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Which degrees pay the most long-term (and where to get them)

29.04.2025

Choosing the right degree isn't just about following your passion—it's also a strategic decision that can significantly impact your financial well-being.

In today's competitive job market, understanding which degrees offer the highest long-term earning potential is crucial. 

For instance, graduates in fields like economics, medicine, and law often secure top salaries. However, it's not just about the degree; the university you choose also plays a pivotal role in your earning potential. 

In this blog, we'll explore which degrees pay the most over time and guide you on where to pursue them for maximum return on investment.​

The degrees that pay the most over time

While passion and interest should guide your degree choice, it’s also worth considering the financial rewards that come with different career paths

Some fields not only offer high starting salaries but also see significant pay growth as professionals gain experience and move into senior roles.

Medicine and Healthcare

Medical careers require years of study and training, but they offer some of the most secure and well-paid jobs in the UK.

To help prepare you for applications to study medicine, or vetenirary studies at university, we offer a comprehensive UCAT preparation course and materials. 

  • Doctors

    • Starting salary: £29,000–£36,616 (during foundation training)

    • Mid-career salary: £59,175–£95,400 (as a specialty doctor)

    • Late-career salary: £96,990–£107,155+ (as a consultant, with private doctors earning significantly more)

  • Pharmacists

    • Starting salary: £32,000

    • Mid-career salary: £50,000–£60,000

    • Late-career salary: £70,000+ (senior/management roles)

  • Dentists

    • Starting salary: £39,467–£45,000

    • Mid-career salary: £49,909–£61,825

    • Late-career salary: £131,946+ (as an NHS consultant or private practitioner)

Why medical and healthcare degrees pay well

  • High demand for healthcare professionals ensures job security

  • Opportunities to specialise and increase earnings over time

  • Private practice and consultancy roles offer even higher salaries

Engineering and Technology

Engineering and technology fields are among the fastest-growing, with salaries reflecting the increasing demand for expertise.

  • Software Engineers

    • Starting salary: £30,000–£40,000

    • Mid-career salary: £60,000–£80,000

    • Late-career salary: £100,000+ (senior/lead roles)

  • Petroleum Engineers

    • Starting salary: £30,000+

    • Mid-career salary: £80,000–£100,000

    • Late-career salary: £120,000+

  • AI Specialists

    • Starting salary: £32,000

    • Mid-career salary: £60,000–£80,000

    • Late-career salary: £100,000+

Why engineering and technology degrees pay well

  • Constant innovation and demand for technological advancements

  • High global demand for AI, software, and energy-related engineers

  • Specialised skills often lead to rapid salary growth

Law and Business

A law or business degree can open doors to some of the highest-paying careers, particularly in corporate law and finance.

  • Corporate Lawyers

    • Starting salary: £27,000–£40,000

    • Mid-career salary: £80,000–£150,000

    • Late-career salary: £200,000+ (partner-level lawyers)

  • Investment Bankers

    • Starting salary: £45,200

    • Mid-career salary: £100,000–£200,000 (including bonuses)

    • Late-career salary: £500,000+

  • MBAs (Master of Business Administration)

    • Starting salary: £30,000–£50,000

    • Mid-career salary: £60,000–£100,000

    • Late-career salary: £150,000+ (executive-level roles)

Why law and business degrees pay well

  • Corporate and financial sectors offer lucrative performance-based bonuses

  • There is a high demand for legal and financial expertise in global markets

  • Career progression can lead to six-figure salaries and beyond

STEM fields (Science, Technology, Engineering, and Mathematics)

STEM careers are essential to many industries, from finance to research and development.

  • Data Science

    • Starting salary: £30,000–£40,000

    • Mid-career salary: £60,000–£80,000

    • Late-career salary: £100,000+

  • Actuarial Science

    • Starting salary: £25,000–£35,000

    • Mid-career salary: £50,000–£70,000

    • Late-career salary: £100,000+

  • Mathematics

    • Starting salary: £20,000–£30,000

    • Mid-career salary: £40,000–£60,000

    • Late-career salary: £80,000+ (for applied mathematics roles)

Why STEM degrees pay well

  • STEM skills are highly transferable across industries

  • High demand in the finance, technology, and research sectors

  • Employers value analytical and problem-solving expertise

The best universities for high-salary degrees

 

Choosing the right university can have a significant impact on future earning potential. While some institutions are known for their academic prestige, others stand out for producing graduates who go on to secure high salaries in fields such as tech, finance, and engineering.

Below, we look at the top universities in the US and globally, along with an analysis of whether attending a private or public institution makes a difference to long-term earnings.

Top U.S. Universities

Some of the highest-earning graduates come from prestigious US universities, particularly those with strong STEM (Science, Technology, Engineering, and Mathematics) and business programmes.

  • Massachusetts Institute of Technology (MIT) – Known for its dominance in technology and engineering, MIT graduates achieve an average mid-career salary of around £154,000 ($196,900), with STEM degrees leading the way in high earnings

  • Princeton University – A top performer in salary rankings, Princeton alumni earn an average mid-career salary of £152,000 ($194,100), making it one of the best choices for long-term financial success

  • Harvard University – Famous for its law, business, and medical programmes, Harvard graduates often enter high-paying fields such as consulting, investment banking, and healthcare

  • Stanford University – With a strong reputation in business and technology, Stanford produces some of the highest-paid professionals, particularly in Silicon Valley

  • United States Naval Academy – Offering a combination of technical and leadership training, graduates secure mid-career salaries of around £147,000 ($187,800), reflecting the value of military and engineering expertise

Other notable mentions include Caltech, which excels in producing high-earning STEM graduates, and Ivy League institutions such as Yale and Columbia, which have strong links to high-paying industries like finance and law.

Best global institutions

Beyond the US, several universities worldwide are recognised for producing high-earning graduates across various industries.

  • University of Oxford (UK) – Renowned for its law and business programmes, Oxford graduates often secure top-tier positions in banking, law firms, and multinational corporations

  • University of Cambridge (UK) – A leader in STEM and economics, Cambridge alumni frequently work in lucrative sectors such as finance and technology

  • ETH Zurich (Switzerland) – A powerhouse in engineering and technology, ETH Zurich graduates are in high demand for roles in artificial intelligence, robotics, and software engineering

  • Imperial College London (UK) – Known for its strong focus on science and engineering, Imperial graduates often enter high-paying, research-intensive industries

  • National University of Singapore (NUS) – A top-ranked university in Asia, NUS has a strong reputation for STEM and business degrees, with graduates highly competitive in the global job market

Public vs. private universities: Does it matter?

One common debate is whether attending a private university leads to higher earnings compared to a public institution. While private universities often dominate rankings, many public universities also produce high-earning graduates.

  • Private universities

    • Typically offer stronger alumni networks and recruitment pipelines into high-paying industries like finance, consulting, and technology

    • Examples include Ivy League institutions (Harvard, Princeton) and elite private universities such as MIT and Stanford

  • Public universities

    • University of California, Berkeley – Highly ranked for engineering and computer science.

    • University of Michigan – Well-regarded for its business school (Ross School of Business) and engineering programmes

    • Provide excellent value for money with lower tuition fees while still delivering strong graduate earnings

    • Examples include:

    • Graduates from top public universities may earn slightly less initially than graduates from private institutions but can still achieve substantial mid-career salaries

While private universities generally lead in graduate salaries due to stronger industry connections, top public universities offer a cost-effective alternative, providing competitive career opportunities and strong long-term earnings.

Factors that influence long-term earning potential

Several factors play a crucial role in determining long-term earnings. Professional networks and broader economic trends can influence these:

1. Networking and alumni connections

Networking is one of the most significant factors in long-term salary growth. Alumni networks from top universities, such as Harvard and Oxford, provide valuable connections that can unlock opportunities in high-paying industries like finance, law, and technology.

Networking can lead to valuable opportunities such as internships, mentorship, and referrals for high-paying roles. Professionals who build strong networks often experience faster career progression and higher salary growth, with studies showing that maintaining these relationships results in quicker salary increases over time.

2. Location and cost of living adjustments

The location of your job can significantly impact your earnings.

While cities like London or New York tend to offer higher salaries, the cost of living in these areas can offset some of those gains. On the other hand, professionals who are willing to relocate to areas with skill shortages can command higher salaries.

3. Job market demand and future growth trends

The demand for skilled professionals in specific industries is crucial for long-term earnings. Fields experiencing significant growth will likely offer high salaries in the future.

  • Industry growth: High-demand industries like artificial intelligence, renewable energy, and biotechnology are expected to see substantial salary increases as the demand for skilled professionals rises

  • Skill relevance: Jobs requiring advanced technical skills, such as data or actuarial science, are expected to remain lucrative. Meanwhile, jobs susceptible to automation may experience stagnating wages

  • Economic conditions: Broader economic factors, including inflation and labour market conditions, influence salary trends. For example, healthcare careers remain stable and well-paid, even during economic downturns

How to maximise your Return on Investment (ROI) for a degree

As you think about your future, making smart decisions early on can really help maximise your return on investment (ROI).

Whether it’s through scholarships, exploring alternative educational paths, or gaining early experience through internships, there are plenty of ways to set yourself up for success without taking on huge amounts of debt.

Scholarships and Grants

Scholarships and grants are a fantastic way to reduce the financial burden of higher education. Many universities in the UK offer scholarships based on merit, financial need, or specific talents. Some examples you can look out for include:

Make sure you start looking for these scholarships early and apply to as many as you can. Also, don’t forget about university-specific funding — many universities have their own scholarships and bursaries to offer.

Government and Private Grants

There are also government and private grants that can help reduce your education costs. Some of the most helpful grants include:

Strategies for minimising student debt

To keep your student debt under control, here are some tips:

  • Before university: Apply for as many scholarships and grants as possible, and if you can, take advanced courses in high school to earn college credits early

  • During university: Budget wisely, track your spending, and consider working part-time to cover living costs

  • After graduation: Once you're out of school, try to make extra payments on your loans to reduce interest, and look into refinancing options if you can

How MyEdSpace can be the first step to a lucrative career

Choosing the right degree is one of the most important decisions you’ll make, because it can directly impacts your long-term financial success and career opportunities.

To set yourself up for the best possible future, start preparing early by excelling in key subjects like Maths (or Further Maths), Science, and English. The stronger your foundation, the easier it will be to succeed in your exams and pursue the career of your dreams.

Join MyEdSpace today, to give yourself the best shot at a high-paying career, by first earning the grades to get you through your GCSEs and A-levels and into the university of your choice.

Author: MyEdSpace
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