06 March 2023
Who gets paid more? Tech or finance graduates
In today's job market, two of the most lucrative industries are technology and finance. Both of these fields attract top talent, with graduates from both fields earning high salaries right out of college. However, the question remains: who gets paid more, tech or finance graduates? The answer to this question depends on a variety of factors, including location, specific job title, level of education, and experience. However, overall, the data shows that technology graduates tend to earn higher salaries than finance graduates.
According to the Higher Education Statistics Agency (HESA), the median annual salary for computer science graduates in the UK is £26,000-£29,000 within six months of graduating. On the other hand, the median salary for finance graduates is around £25,000-£28,000 within the same time frame. This indicates that tech graduates have a slightly higher earning potential compared to finance graduates.
Furthermore, the demand for skilled tech professionals is on the rise in the UK. The technology industry is growing rapidly and is expected to create over 2 million jobs by 2025. As a result, there is a shortage of skilled tech workers, which means that employers are willing to pay a premium for the right talent. In contrast, while finance remains an important sector in the UK, it has faced some challenges in recent years, particularly with Brexit and the pandemic. This has led to a decrease in demand for finance graduates, which could impact their earning potential in the short term.
However, it's important to note that there are still many high-paying roles available in the finance sector. For example, investment banking and private equity are known to offer lucrative salaries for graduates. Additionally, finance graduates may have more stability in their careers as the industry is less prone to rapid technological change.
When it comes to location, London is the hub for both the tech and finance industries in the UK. According to HESA, the median salary for computer science graduates in London is around £33,000-£35,000, while the median salary for finance graduates is around £32,000-£35,000. While the difference is not significant, it's worth noting that tech graduates still have a slightly higher earning potential in the capital city.
In conclusion, while finance graduates in the UK can still earn high salaries, tech graduates tend to have a higher earning potential overall. The demand for skilled tech professionals is on the rise, and the industry is expected to continue growing. However, both tech and finance offer lucrative career paths, and graduates should consider their interests and strengths when choosing a career.
