There are many good reasons to go to university (and also many not to). The option, if available, deserves considerable thought. Much of this should not consider the financial aspect, but it is unavoidable.
As the number of graduates available for work increase it is to be expected that the differential between graduate and non-graduate earnings will narrow. This does appear to be occurring but at a slower rate than many expected. This is likely to be due to changes in the overall labour market which are increasingly rewarding high-skilled versus low-skilled jobs.
Recent figures suggest that over a career lifetime a female graduate will earn on average £250,000 more than a non-graduate and the figure for a male graduate is £170,000. Given that the average student debt is around £50,000, there does still appear to be a considerable financial advantage.
However, the analysis deals in averages and therefore treats all non-graduates the same in terms of average earnings. Those who take up higher apprenticeships will possess much higher skills than the average non-graduate and these will have been moulded to a specific group of employers' requirements. This is likely to mean that these individuals will command a commensurate premium in the market and will not have the either the burden of student debt or the job insecurity which can surround many new graduates.
It is not therefor surprisingly that many of these high quality apprenticeships are highly sought and competitive not just in terms of academic qualifications but also people skills.
