Australian graduates have received record high levels of employment and incomes, according to the QILT Graduate Outcomes Survey released yesterday.
The median salary for people graduating with an undergraduate degree in 2023 was $71,000, up $3,000 from 2022 – with those graduating with a postgraduate research degree topping out at a median of $100,000.
The survey of 116,250, representing more than one third of graduates for the year, found that 79% of undergraduates had found full time employment, with pharmacy, medicine and rehabilitation offering the highest strike rate. Creative arts, communications and science and maths had the lowest employment rates.
The proportion of graduates employed part-time but seeking more hours grew slightly to 15% of undergraduates and just 6.7% of postgraduate coursework completers – but remains low overall.
Interestingly, just over 27.8% of undergraduates did not feel they were fully using their skills and education in their current job – although most said it was because they were in an entry level role which was a career stepping stone. Around three quarters of undergraduate students felt their degree prepared them well or very well for their role.
Around 18% of undergraduates were engaged in full-time study in another degree after completing their course – the lowest level since the survey began in 2016.
Just 60% of undergraduate dentistry students were satisfied with their course, well below other course areas.
Jason Clare trumpeted the figures, with social media post noting higher salaries and record jobs for university graduates, following the QILT report. Whether this can still be measured as effectively in coming years following the Government’s decision to cut $8 million from the QILT budget remains to be seen.
