Getting a university degree may be worth far less over an individual’s lifetime than previously thought, according to Lord Browne, the man tasked with leading the government’s review of higher education fees.

He estimated that over a graduate’s lifetime, having a degree would lead to them earning £100,000 more than they would have done otherwise.

This figure is far lower than previous predictions, with the government stating in 2003 that graduates stood to earn £400,000 more than if they had not completed a degree.

Additionally, a 2007 study by PricewaterhouseCoopers estimating that a degree was worth on average £160,000, rising to £340,000 for those who study medicine.

The Department for Business, Innovation and Skills responded by saying that there were a number of different ways of calculating the value of a degree, while others have emphasised the non-monetary benefits of a university education.

For some people leaving university, particularly those who are looking for finance graduate jobs, gaining professional qualifications and having access to the best careers advice could prove more important than having the right degree.

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