CAMBRIDGE LAW GRADUATES EARN MORE
CAMBRIDGE LAW GRADUATES EARN MORE
WITH AN AVERAGE INCOME OF £69,400, CAMBRIDGE LAW GRADUATES OUTPERFORM THEIR COUNTERPARTS FROM THE LSE, UCL, AND OXFORD.
Cambridge University came out on top in the law school earnings league table, surpassing the London School of Economics, where law graduates earn a median income of £65,500, University College London (£65,000), and Oxford University (£64,600). According to recent Department for Education numbers focusing on students who graduated between 2012 and 2013, this implies that Oxford graduates earn around £4,800 less than their Cambridge counterparts five years after graduation.
Despite this, law graduates from all of these universities earn, on average, more than double the average pay in the United Kingdom within five years after graduation. Statistics published by the Office for National Statistics show that the national average pay is £31,461, with the highest earners earning more than £400,000. The earnings of those at the bottom of the list decline significantly. With an average income of £48,700 for LLB graduates at the same stage of their careers, King's College London is the sixth most lucrative institution in the country.
The remaining top ten universities are all members of the Russell Group, including Durham, Bristol, Warwick, Nottingham, and Exeter, where law graduates earn more than £40,000 on average five years after graduating, with the exception of Exeter, where they earn £39,400 on average five years after completing their course.
AVERAGE SALARY FIVE YEARS AFTER GRADUATION (LAW) — THE TOP TEN HIGHEST PAYING
Blackburn University and Croydon College are at the bottom of the league. According to the statistics, its graduates earn a median wage of only £17,500 after five years, which is about £52,000 less than their Cambridge counterparts, highlighting the significant earnings disparity between the two institutions.
According to the research, students who studied business and management at Oxford University had the best earning potential (£70,800) in the five years after graduation. Complementing this are the computer and law degrees from Cambridge, which both earned a median salary of £69,400 for the tax year that ended in 2019.
Despite the fact that the most lucrative law degree earns an average salary of £69,400, numbers reveal that this is less than half of the average salary earned by newly qualified (NQ) lawyers at the top-paying City law firms. Vinson & Elkins, a US legal firm with a presence in London, pays junior associates a recently increased remuneration of £153,400 – despite the fact that they only take on six trainees each year.
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