Find out which university degrees can earn you the most in your lifetime

Skills Minister Jackie Smith said it was important for prospective students to “choose carefully”.

“Don’t enter a degree by default,” she says.

“One of the biggest changes a young person can make is going to university and getting a degree. But that’s not a universal guarantee of success and not all degrees are created equal.”

“Also, the difference in the subject, too many franchises and poor quality courses do not give a good deal to young people, selling the dream and leaving students in trouble.”

Responding to the IFS report, Nick Harrison, chief executive of the Sutton Trust, a social mobility charity, said that while university was no guarantee of “financial success”, it remained “the most reliable route to upward mobility”.

“Most graduates go on to receive significant financial benefits over the course of their lives, and these benefits are often greater for low-income youth,” he added.

However, he said the report raised “uncomfortable questions” about the job options available to young people.

“If we’re telling young people not to go to university, what exactly are we telling them to do instead? There’s no criticism of low-cost degrees, but a lack of high-quality options.

“Apprenticeships and technical pathways may offer great promise for growth and success, but they are not enough to be viable options for many young people.”

According to Universities UK chief executive Vivian Stern, it is important to emphasize that some degree options, such as the arts, are “not financially motivated”.

“We need to recognize that these topics feed into the creative industries, which are a huge economic driver for the UK.

“In the age of AI, we count on understanding how humans think and act, no less in the future.”