Ranked: Uni courses by financial return – performing arts leaves you £43k poorer than non-grads

Studying medicine at university will deliver an average £408,000 lifetime financial return, while a performing arts degree will leave you £43,000 worse off than if you hadn’t gone to university at all, according to research by the Institute for Fiscal Studies (IFS).

While medicine and economics deliver returns of over £300,000, creative subjects are less likely to be financially beneficial.

A languages degree delivers an average £6,000 lifetime loss, while philosophy leaves you £9,000 worse off and acreative arts degree loses you £40,000, taking into account student loan repayments.

In response to the IFS findings, the Department for Education confirmed it plans to consult on minimum entry standards for universities, saying it would take “drastic action to tackle poor-quality degrees.”

Jacqui Smith, Minister for Skills, said: “Going to university and getting a degree is one of the most transformational things a young person can do. But it is not a universal guarantee of success and not all degrees are equal.”

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Here are 31 university subjects ranked by average lifetime financial return, from highest to lowest, according to IFS research.

Figures represent average lifetime earnings after tax and student loan repayments, compared to similar people who did not attend university. The analysis follows people who took their GCSEs in 2001-02, with earnings observed to age 37 and projected beyond that.

1. Medicine – £408,000
2. Economics – £394,000
3. Medical sciences – £182,000
4. Law – £177,000
5. Business – £174,000
6. Nursing – £142,000
7. Maths – £133,000
8. Computing – £128,000
9. Pharmacology – £126,000
10. Engineering – £103,000
11. Politics – £87,000
12. Allied health – £77,000
13. Architecture – £74,000
14. Chemistry – £67,000
15. Social care – £62,000
16. Education – £61,000
17. History – £56,000
18. Physics – £56,000
19. Technology – £51,000
20. Sociology – £47,000
21. Psychology – £39,000
22. General sciences – £36,000
23. Biosciences – £32,000
24. Media – £29,000
25. Geography – £26,000
26. Agriculture – £24,000
27. English – £9,000
28. Languages – -£6,000
29. Philosophy – -£9,000
30. Creative arts – -£40,000
31. Performing arts – -£43,000

Featured image via Unsplash