What is the average graduate salary in the UK?
The average salary for a UK graduate can range anywhere from £25,000 pounds up to £35,000 pounds depending on the industry. For countries in the developed world this salary isn’t anything to boast about when you compare the average graduate salary in the US, since grads are very well paid their comparatively. However, this is partly due to the fact that in the UK on average a large percentage of the population go on to study at university hence creating an increase in supply of graduates compared to the number of jobs. Suffice to say not all graduate or go on to secure a graduate job. If you are interested in improving your chances to secure a graduate scheme job I would recommend that you look into our graduate interview coaching programme.
However, it’s important to recognise that there is a salary differential between London and other parts of the UK. Typically the average graduate salary in London is closer to £35,000, at least £5000 more than the rest of the country.
Below or a list of average graduate salaries for countries in the developed world:
| Country | Average Graduate Salary |
| United Kingdom | £30,000 to £35,000 per year |
| Germany | €40,000 to €45,000 per year |
| France | €30,000 to €35,000 per year |
| Spain | €25,000 to €30,000 per year |
| Netherlands | €30,000 to €35,000 per year |
| Sweden | SEK 300,000 to SEK 350,000 per year |
| United States | $50,000 to $70,000 per year |
| Canada | CAD 40,000 to CAD 60,000 per year |
| United Arab Emirates (UAE) | AED 90,000 to AED 120,000 per year |
| Singapore | SGD 3,000 to SGD 4,500 per month |
| Australia | AUD 50,000 to AUD 65,000 per year |
Average Graduate Pay of Last 3 Years
The average salary for UK graduate over the last three years has mostly been on an upward trajectory back in 2021 the average salary of £28k and then in 2022 we saw it increase to £30k and then in 2023 that increase to £32.5k.
A £500 increase on the annual moving average in 2023. This can likely be put down to inflation and the cost of living increases, that have particularly impact expensive cities like London. where the average London graduate salary is also higher in 2023.
What affects a graduate’s starting salary?
The biggest factor that affects graduate salary is the difficulty of obtaining the skill and the scarcity of that skill within the job market. Secondly is the cognitive function of the individual required to do the job and the breadth of skills required. In other words there’s an element of technical requirements and emotional intelligence to deal with people. The highest graduate salaries in the UK will be in finance, particularly investment banking and this is due to London being one of the world’s largest financial hubs and are keen to attract the most talented graduates from around the world.
The graduate salary in the US is slightly differently leaning more towards engineering in particular computer science With an average salary being between $60,000- $90,000. This is due to the US particularly the West Coast of America (California, Oregon and Washington) being the Tech hub of the world with companies such as Google, Amazon, Apple and Meta all having head offices based in the US.
Also your ability to write a supporting statement will influence the effectiveness of your application submission. The more interviews you receive the greater the chance you’ll land a better offer, above the average salary for a UK graduate, US grad and beyond.
A common interview questions that you will always need to overcome at the interview stage will be the weaknesses question, learning the best approach how to answer your weakness is vital for any graduate to learn.
United Kingdom:
| Industry | Average Graduate Salary |
| Finance and Banking | £30,000 to £40,000 per year |
| Engineering | £26,000 to £32,000 per year |
| Information Technology | £25,000 to £35,000 per year |
| Marketing and Advertising | £22,000 to £30,000 per year |
| Healthcare | £23,000 to £30,000 per year |
| Media and Communications | £20,000 to £30,000 per year |
United States:
| Industry | Average Graduate Salary |
| Engineering | $60,000 to $80,000 per year |
| Computer Science | $60,000 to $90,000 per year |
| Business/Finance because | $50,000 to $70,000 per year |
| Healthcare | $50,000 to $70,000 per year |
| Marketing | $40,000 to $60,000 per year |
| Education | $35,000 to $50,000 per year |
Australia:
| Industry | Average Graduate Salary |
| Engineering | AUD 55,000 to AUD 70,000 per year |
| Information Technology | AUD 50,000 to AUD 65,000 per year |
| Finance and Banking | AUD 50,000 to AUD 65,000 per year |
| Marketing and Communications | AUD 45,000 to AUD 60,000 per year |
| Healthcare | AUD 45,000 to AUD 60,000 per year |
| Education | AUD 45,000 to AUD 55,000 per year |
What is the highest graduate salary in the UK?
The highest graduate salaries in the UK are within finance this includes Goldman Sachs, JP Morgan and the Rothchild’s Private Finance, all paying above £55,000. Also a special shout out to the UK Civil Service. Historically they’ve struggled to attract the best graduates, but by offering salaries upwards of £40,000 on their graduate fast track scheme, they’re hoping to change that. With most of these graduates’ salaries there will be a salary range, therefore learning how to negotiate salary offer is a vital career skill that every graduate should learn.
What is the average master’s graduate salary?
The average Masters graduate salary can vary quite a lot depending on your industry and your area of specialisation. It can range from anywhere from between £30k to £45k. Having a specialism is important because if you’re going into a consulting role or technical role. As there is an expectation that with your additional knowledge and skill developed through your post graduate Master’s programme translates to being able to provide additional insight, expertise and value for the organisation. Which would require you to receive less training and take on complex work, quicker!
If you don’t have a master’s degree with any particular type of market specialism the master’s degree will not give you that additional graduate income compared to someone having a bachelor’s in many instances you might be put on the same graduate scheme.
Some organisations do have specialist graduate programmes for postgraduates with PhDs and in many cases they would pay £5k to £10k more than the grad salary. Again in many instances the same applies as for MS post grads, where you have to have an area of knowledge or expertise that is valuable in the job market and in-demand. For example if you have a PhD in mathematical modelling you can actually go into the investment banking finance sector and your entry level salary will be above £40k
What is the average graduate salary after 5 years?
The average graduate salary after 5 years Is dependent on a number of key factors. The first is the industry that you’re in and secondly how skilled you are in your role and job interviewing.
The Industries that you will normally see the fastest increase in average salary are naturally those industries that initially paid the most as well. Such as finance, specifically, investment banking. Also, working in big tech particularly as a software engineer. In some cases if you’re talented enough you can find yourself within a 10 years period reaching a senior role and then you can begin learning about the average executive salary.
Farhan Raja
I'm Farhan, the Founder and Coach at JobInterviewology.com, one of the world’s leading Career and interview Coaching specialists. Bringing over a decade of industry experience and a passion for guiding individuals in their career journeys. As an Interview and Career Coach, I've authored the eBook '10 Simple Steps to CV & Resume Success,' directed a leading UK CV writing specialist, and pioneered the iPREP interview coaching methodology.
My career and interview coaching has spanned over 10 years across diverse industries, from IT giants like Google and Microsoft to vital sectors like Civil Service & NHS, Pharma, Finance, Engineering, Automotive, Construction, Logistics, Banking, and Management Consulting. I've had the privilege of assisting professionals in presenting their best selves, and targeting roles at renowned companies like Amazon, GSK, EY, Shell, Rolls Royce and more.
