You can earn more in your first year of banking than the average graduate earns after 20 years on the job

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The UK Office of National Statistics has issued some statistics (unsurprisingly) on graduate employment and compensation. If you're a student who wants to maximize your lifetime earnings, you may be interested in the chart below showing which degrees results in the highest median annual salaries.

ONS earnings

The ONS study underscores just how well off bankers are compared to the general population. Even the highest paid medical graduates only achieve median annual pay of £45k. By comparison, the starting salary of graduates going into the investment banking and fund management industries is £38k according to the Association of Graduate Recruiters.  In front office jobs like M&A, this is supplemented by a bonus which can take first year compensation up to £67k according to the recent Dartmouth Partners compensation survey.

For average graduates, the ONS says median salaries pan out as follows:

Pay progression ONS