This chapter examines the weekly earnings of graduates in the years after graduation and how earnings differ across various parameters. Only income through the PAYE system is included in this analysis. Income from self-employment activities registered through the self-assessment system is excluded here. Median values for earnings are presented in each case and all values are rounded to the nearest €5. All earnings relate to gross pay (liable to the Universal Social Charge) and are adjusted for inflation using the 'Consumer Price Index' (base = December 2016).
Two different styles of longitudinal study are presented. Graduates’ earnings are analysed at one year after graduation for each graduation year in a longitudinal cohort study. Graduates’ earnings are also described one to ten years after graduation in a longitudinal panel study of 2010 graduates. Only graduates who are classified as being in 'substantial employment' are included here (including those who are both in 'substantial employment’ and enrolled in education).
Median weekly earnings for all graduates increased from €425 per week for 2010 graduates to €555 per week for 2019 graduates, an increase of €130 per week over the nine-year period. Male and female graduates in 2010 had the same median weekly earnings. In the following years, a gap between male and female earnings emerged, with men earning €20 to €25 per week more than women in the graduation years from 2013 to 2015. In the most recent year, this gap has reduced to €15 per week, with median weekly earnings of €565 per week for men compared to €550 per week for women.
Figure 4.2 shows median weekly earnings for 2010 graduates one to ten years after graduation for male and female graduates. Median earnings among all graduates increased from €425 per week in the first year after graduation, to €660 per week after five years and to €960 after ten years.
In the first five years after graduation, median weekly earnings for 2010 graduates remained broadly similar between male and female graduates. Five years after graduation, male graduates earned €15 per week more than female graduates. However, after ten years this difference increases to €125, with male graduates earning €1,040 per week compared to €915 for female graduates.
'Education' graduates in 2019 had the highest earnings in the first year after graduation with median earnings of €735 per week. This was followed by 'Health & Welfare' graduates who had median earnings of €695 per week. 'Information & Communication Technologies' had the next highest earnings, at €640 per week.
Graduates in their first year after graduation experienced an increase in earnings between 2010 and 2019 from all fields of study, except for graduates from 'Education'. Graduates from 'Education' in 2010 earned €780 per week compared to €735 per week for graduates in 2019.
The field with the lowest median earnings was 'Arts & Humanities', with weekly earnings for 2019 graduates of €435. The second lowest earnings was among 'Services' graduates, who received €460 per week in the first year after graduation. It should be noted that this analysis includes graduates who were classified as being in 'substantial employment' and education. This proportion, taken relative to the total number in substantial employment, is high for fields including 'Arts & Humanities' and 'Services'. Therefore, the lower earnings in certain fields may be partially explained by graduates engaging in part-time work while they continue their studies.
In 2010, graduates from 'Education' had the highest median earnings in the first year after graduation, at €780 per week. This was followed by 'Health & Welfare' graduates who earned €585 per week. Graduates from 'Information & Communication Technologies' had the third highest earnings of €475 per week in the first year after graduation.
However, ten years after graduation, graduates from 'Information & Communication Technologies' had the highest earnings at €1,165 per week. This was followed by graduates from 'Engineering, Manufacturing & Construction', at €1,065 per week. 'Education' graduates in 2010 had the fourth highest earnings after ten years, at €1,015 per week.
Graduates' earnings across all graduation years rose with increasing NFQ level. Graduates with NFQ level 6 awards (advanced or higher certificates) in 2019 received the lowest median earnings of €285 per week. Next was NFQ level 7 award holders (ordinary bachelor's degrees) who earned €470 per week, followed by NFQ level 8 graduates (honours bachelor's degrees) who had median earnings of €555 per week. Graduates with level 9 awards (master's degrees and postgraduate diplomas) earned €655 per week while those graduating with an NFQ level 10 qualification (doctoral degrees) had the highest weekly earnings of €815 per week.
The greatest increase in weekly earnings between 2010 and 2019 graduation cohorts was among NFQ level 7 graduates, with earnings increasing from €295 per week for 2010 graduates to €470 for those graduating in 2019.
Median weekly earnings for graduates in their first year after graduation are shown in Figure 4.6 for each university. Graduates from Trinity College Dublin had the highest median earnings in the first year after graduation for all graduation cohorts except 2019, when graduates from Dublin City University earned slightly more. In 2019, graduates from Dublin City University earned €630 per week while graduates from Trinity College Dublin earned €625 per week.
Graduates’ earnings from Dublin City University increased notably since the 2017 graduation cohort, which coincides with Dublin City University merging with St Patrick’s College and Mater Dei Institute. These institutions mainly offered education courses and Figure 4.3 above shows that ‘Education’ graduates had the highest earnings in the first year after graduation for all graduation cohorts.
Figure 4.7 shows median weekly earnings of 2010 graduates one to ten years after graduation for each university. Other combinations of graduation year and years since graduation are available within PxStat Table HEO16 which accompanies this publication.
In 2010, graduates from Trinity College Dublin had the highest median earnings in the first year after graduation, at €565 per week. This was followed by graduates from University College Dublin who earned €500 per week.
However, ten years after graduation, graduates in 2010 from Dublin City University and University College Dublin had the highest earnings at €1,140 and €1,115 per week, respectively. Graduates in 2010 from Trinity College Dublin have the third highest median earnings of €1,065 per week ten years after graduating.
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