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Original poster

To ask the best degree to do in order to earn the most

226 replies

Vitalic · 19/08/2017 08:51

I've never been money-oriented and did a degree in my twenties in a very specific subject that interested me but which is never going to earn me much money. I only got a 2:2 plus it's such a specific subject I'd be surprised if it would get me into an MSc in anything useful.

I currently work to support myself and young dd in a field unrelated to my degree and in which there is no potential for progression or promotion.

I'm now completely sick of being poor and want to retrain in something that will earn enough for us to be comfortably off.

I have enough saved plus can get a career development loan to fund another undergraduate degree.

Please could anyone advise me what I should be looking at in order to get the most well-paid job possible following this? I have a BSc, am pretty good at maths, have good communication skills and lots of experience in various fields.

I was considering med school and scored well in practice GAMSAT exams - these aim to assess your capability in a variety of areas so I guess that's a good indication that I could potentially do well in various types of studies/jobs.

Would be very grateful for any advice

OP posts:
Whatthequack · 19/08/2017 18:40

Seriously, computer programming is not a risk. AI can't replace programmers, as programmers are the ones who build it.

Dashper · 19/08/2017 18:41

DH has a third from a very good university. He did have to worm his way in to an actuarial training scheme though.

WomanWithAltitude · 19/08/2017 18:41

Anyway, whatever you choose, my advice would be to find something where you can train on the job, or while you work part time. Don't get into debt doing a 3 year degree - there are plenty of opportunities without doing that.

I was a career changer with a 2:2 and I'm now a trainee in a field I really enjoy, and on track to get back to where I was in earnings terms (I didn't change for money reasons - my previous job was well paid). Take a positive approach, research your chosen field, and find a job you can learn in (even if it's not well paid to start off) - you may well find that your life experience makes you stand out compared to younger grads.

FiveStarService · 19/08/2017 18:43

Whatever you choose to do you have to put in the long hours to make money from it. With a young child at home, you will need a lot of support. Most degrees ie law or medicine are only the tip of the iceberg, once you have finished those, you work long hours for mediocre money and do exams to get to the next level and specialise. Anyone I know in either profession aren't in it for the money because as others have already said, it's only the top tier make the most. Have you considered Nursing and doing a masters to lecture/management? Hours would be good and more suitable with having a family if you are a lone parent.

WomanWithAltitude · 19/08/2017 18:45

Nursing - big bucks? Very few become nurse managers, and then only after quite a few years as a staffer, it's not exactly a reliable career path to earn good money.

DorisDangleberry · 19/08/2017 18:47

Footballers earn a lot of money. And you don't need a degree. Why not try that?

macaronip1e · 19/08/2017 18:50

How about health economics? It needs a good mix of logic, maths, stats as well as biomedical understanding. Flexible working options too either in pharma/med device companies or consulting (inc freelance work)

5rivers7hills · 19/08/2017 18:52

@Borttagen

accountancy training wages aren't liveable with kids (speaking as a former trainee actuary at Big 4 with a sister who was a trainee accountant at a a Big 4 firm)

I'm not saying they are great, but a lot of people never earn more than £20k in their whole life so it is a bit rude to say you can take live on that in Birmingham/LeedsManchester etc if you have children

Doublechocolatetiffin · 19/08/2017 18:52

To add to what a lot of others have said, accountancy or tax might be good. Tax tends to have a slightly higher salary and fewer hours than audit based accountancy. I can't see the need for tax accountants going anywhere either given that the UK has the most complex tax legislation in the world and you can't really computerise the complexities involve in optimising someone's tax position.

Accounting firms don't tend to be fussy about what degree you did, although I suspect a 2:1 minimum would be required. It might be worth looking at some of the smaller firms though, you could maybe do on the job training for the ACA or ACCA without the need to do another degree.

HundredMilesAnHour · 19/08/2017 20:48

Have you considered doing a MBA? You don't say enough about your previous experience to know if this is a serious option but it's something to consider. It would also help you with networking as that often plays an important role in getting higher end jobs.

Everyone is piling on recommending accountancy but I found it beyond boring (I did chartered accountancy with one of the Big Four). Not without value but it was a long hard slog. Studying while working long hours isn't easy and I certainly wouldn't fancy doing it with a young DD. I got out of accountancy as soon as I could!

Freakishlycommon · 19/08/2017 21:03

I know a lot of very rich people. None have degrees.

Freakishlycommon · 19/08/2017 21:03

And it's not family money either.

Freakishlycommon · 19/08/2017 21:04

Sadly I'm not rich though!

Coconutspongexo · 19/08/2017 21:28

Medicine is not well paid it's a lot of years of training even post grad and very few unis will take you with a 2.2 (sorry) even with a high GAMSAT

Accountancy and Economics are much better in terms of training time and earnings.

Julia2016 · 19/08/2017 22:08

Just a word of warning as everyone is suggesting accountancy. I trained in a big 4, we had very intelligent trainees, but not everyone could pass the final exams, I think it takes a certain type of brain. They are tough exams and require a lot of study.

5rivers7hills · 19/08/2017 22:08

I'd like to caution a bit against 'accountancy' having amazing pay. It isn't super mega bucks and your salary dois t double on qualification. The pay has always been slightly disappointing to me (so I moved into corporate finance)

If you're in London audit you'll be on £40k tk £45k once qualified after 3 years and you'll be stuck at not much more than that for another 2 or 3 years.

NotTheCoolMum · 19/08/2017 22:22

A degree associated with high earnings is useless if you can't get enough a job. Just saying.

The most important thing is experience doing unpaid internships (or minimum wage) over the summer during your degree.

If you do not do internships you will be at the bottom of the pile for jobs when you graduate and believe me you will kick yourself. Speaking from bitter experience.

OhTheRoses · 20/08/2017 00:36

Who said you can only make a fortune by doing something you love?

You can make a fortune at many things providing you are very good at them and can play the politics game.

Nothing replaces being well educated and that has nothing to do with being well qualified.

SenatorBunghole · 20/08/2017 08:37

Whatever you choose to do you have to put in the long hours to make money from it. With a young child at home, you will need a lot of support. Most degrees ie law or medicine are only the tip of the iceberg, once you have finished those, you work long hours for mediocre money and do exams to get to the next level and specialise. Anyone I know in either profession aren't in it for the money because as others have already said, it's only the top tier make the most.

True, but in law at least it's not even top tier. It's just certain sectors. The very best people in my specialism are still not highly paid, because so much of it is legal aid. I know stars in my field who are paid around the same as a bog standard City trainee.

wirrinboffin · 20/08/2017 08:39

Accountancy or post grad in actuarial science - have worked for a life and pensions company and the actuaries and part qualified actuaries get paid top £££.

Computer science and go freelance (also a nice earner!)

5rivers7hills · 20/08/2017 08:43

If you really want to make money then do your ACA, once qualified move into a non-audit function and do level 1 CFA whilst applying to investments banks.

That is serious money.

You will have to work 100 hours as average though. Leaving between 1 and 3 am as the norm. All day Saturday. Half day on Sunday.

Personally I think that is totally horrific and Not worth the money!

My team is a good rote into investment banking and we have a couple of associates who leave to go to IBs every year.

One guy was saying on Sunday he has time with his kid... he brings her into the office and puts pingu on his computer for her whilst he works.

Id rather live on £20k for ever than have to work those kind of hours.

Equimum · 20/08/2017 08:58

Obviously there are degrees that are more likely to put you on a high earning track, but I think high earnings are down to a lot more that what degree you have. As well as hard work, long hours etc, high earnings also depend on natural aptitude, often natural management potential etc. I have a first class degree and distinction in an MSc, both in academic subjects. I, however, don't have he confidence etc to go very far. DH on the other hand, has a 2:2 in hospitality management; a degree usually associated with lowing wages. Many of the most successful students from his course still earn les than £40k fifteen years after graduating. DH, however, is a natural manager and calculated risk taker. We is also very dry confident and personable, and I believe it is these characteristics that have taken him far beyond the expected earning potential for his degree.

Iggity · 20/08/2017 09:10

Given your background, sounds like you have a biomedical sciences degree, what about the pharmaceutical industry. You could do an MSc in a relevant field and there is good earning potential. Pharmacovigilance, regulatory affairs etc are a couple of areas worth considering. I earn around 90k. Have biomedical degree and MSc. Pharmacy is another useful degree to have as is medicine for entering pharma. There are quite a few of these graduates in my company who have never practised.

Iggity · 20/08/2017 09:15

Pharma is much more family friendly; generally 9-5 although my DH would laugh if he heard me say this. They give us laptops for a reason........but seriously it is better than a lot of these jobs mentioned above.

Nuttynoo · 20/08/2017 09:16

To get onto a banking grad scheme (which is a necessity nowadays for senior positions, alongside a relevant degree) you'll need a 2:1 minimum and even then to compete with the glut of 1:1 grads you'd need experience. And like others have said it's hard work.

Your best bet is to move into a consultancy relevant to your degree if possible. It's likely you'll start at 60k then.

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