For decades, the message to graduates has been clear. If you want to earn well, the best place is London. Yet as this year’s graduates settle into life after university, the figures suggest the picture may be slowly shifting.
Leading early careers platform Higherin has taken a detailed look at graduate options across the UK, analysing salaries, subject choices, and regional living costs. The aim was to identify the sectors, locations, and degrees offering the best prospects for graduates starting their careers.
The Cost of Ambition in London
The average graduate salary in London now sits at £28,634. On paper, that’s appealing. Yet when rent and other living costs are factored in, the numbers tell a different story. Housing affordability in the capital is now twelve times the average graduate income, according to Luminate. In the North East, that figure drops below five.
Careers expert and Co-Founder of Higherin, Oliver Sidwell, believes this is where graduates must take a closer look at what their salary really offers.
“There is a romance to London, and for some careers it will always make sense,” he says. “But graduates often overlook what their wage can realistically cover. A salary in London may sound higher, yet once rent, commuting and everyday costs are paid, many find they are no better off than friends who stayed closer to home.”
Opportunities Outside of London
Cities that once sat quietly behind the capital are increasingly asserting their presence. In Dundee, life sciences and technology firms are hiring at pace, with starting salaries around £28,000. Aberdeen’s established energy industry, now diversifying into green technology, offers similar starting pay alongside lower living costs. Belfast, too, is emerging as a hub for financial services and technology start-ups vying for new talent.
“Employers are shifting their thinking,” Sidwell explains. “Many could be realising that not every graduate wants to move to London. By investing in cheaper regional offices and paying competitive starting salaries, they are not only broadening access but also retaining talent in places that were previously overlooked.”
Degrees Linked to Higher Salaries
Location isn’t the only factor. Subject choice continues to shape earning potential long after graduation. Data from the Department for Education shows that a decade after graduation, economics leads the way with an average salary of £68,600. Medicine and dentistry follow closely at £61,000, with mathematics graduates averaging £51,500.
However, Sidwell notes that impressive salaries aren’t limited to traditional high earners.
“Retail graduate schemes often surprise people,” he says. “The Aldi area manager programme, which recruits nationally, begins at £50,000 and provides structured progression.”
“These opportunities are open to graduates from a range of disciplines,” he adds. “They may not appear on the radar of someone studying history or English, but they can provide financial stability and genuine leadership experience for those who might be interested.”
Technology also continues to offer strong opportunities for quick progression. Software development roles typically start around £31,500, but salaries rise rapidly – especially in flourishing fintech hubs such as Manchester and Edinburgh.
The Value of Graduate Schemes
Sidwell also highlights the potential of structured graduate programmes outside the capital.
“A graduate who joins a well-designed scheme at a major retailer or logistics firm may rotate across departments, gain leadership skills, and be promoted at a quicker rate,” he explains. “Within three years, they may be earning more than someone who chose a more prestigious title but a slower route, and it can also open the door to a sideways move into another company at a higher level than they would likely have reached otherwise.”
Yet, he stresses, salary should never be the sole consideration. “A higher salary only matters if the role feels right for you and your plans,” he says. “Fulfilment, job satisfaction, and genuine career development remain just as important as the pay on offer.”
