Following up on previous post where we analysed the career pathways into Nursing the team at Geek Talent have been analysing the latest LEO data from the Department for Education. We have also read of the further reduction in nursing applications to higher education.
The unique thing about this experimental data set is that is bring together for the first time high quality actual graduate salary data 1,3,5 and potentially 10 years after graduations with data going back to 2007/8 academic year and providing two tax years 2014/15 and 2015/16 to view.
As my daughter is going in to study Nursing we thought this would be a great first question to ask what do nurses earn after graduation? Well it appears more than most other subjects which your could group together into similar subject areas such as Psychology, Biological Sciences and even Business Administration subject areas.
As you can see from the data – Nursing graduates consistently outperform other subjects – this is even when you control for the London and South East factor where Nursing still ranks highest although the other subject areas close the gap slightly.
Salary Growth – As you can see the salary growth is around £3,500 over a 4 year period but this would fit with the grading structure of the nursing pathway and still outstrips most other pathways. If we also want to look past 5 years of experience we can view the entire UK job market for nurses and see the vast majority would be in the £30,000 to £40,000 bracket with few extending past to £50 to £70k+ after browsing some of these careers they are in the agency field and specialist nurses.
Viewing the latest salary data for Nurses across the UK we can see the following graph – this data if from @adzuna via http://gocareer.io/
So is it worth it? We think so for those who want to focus on Nursing careers – including my daughter 🙂
Drop out rates – As you can see a real concern has been the much publicised reduction in new student nurses and the drop out rate of 1 in 4 nurses leaving prior to graduation – Metro Article 2nd September 2018. There is an average drop out rate of 24% which is really high although its as high in some other subject areas also and different across the university landscape. (Data supplied from 55 of 74 universities which offer Nursing careers.
We do hope that we can collectively find a way to decrease the obvious skills gap in this valuable career but this will take a concerted effort from all concerned in the talent pipeline including investigating how, once we have convinced students that a nursing career is for them – how we can encourage them to stay on and reap the obvious (or not so obvious) salary benefits in addition to the other career benefits which Nursing brings.
Dom – Founder Geek Talent.
Leo data available from the gov.uk website – LEO data