Sydney Graduates earn 10 per cent more than Melbourne Graduates
Based on responses from 40,000 graduates, the government-funded Graduate Outcomes Survey measures the medium-term success of university leavers tracking the class of 2014. The survey reveals that graduates from Sydney had a median full-time income of AUD 73,460 compared with AUD 67,400 for the counterparts in Melbourne, a difference of close to 10 per cent.
The survey found that graduates of the six largest universities in Sydney earned a median salary of at least AUD 70,000 - except for Western Sydney University, where the median was AUD 67,000. The northern advantage was assisted by the UNSW, with its large contingent of business and engineering students, who enjoyed higher starting salaries of AUD 77,500. The results show Sydney graduates enjoy a wage advantage from their first days in the workforce. Census data shows overall median household income remains higher in Sydney (AUD 1750 a week) than Melbourne (AUD 1542).
By contrast, of Victoria's six largest universities, the only institution to reach the AUD 70,000 annual income threshold was Monash University. There was a significant gap in the median earnings for graduates of the two cities' leading universities, with the University of Sydney’s graduates now pulling in a median salary of AUD 73,000, compared with AUD 65,000 for the University of Melbourne.
According to Federal Education Minister of Australia, Dan Tehan, this result was strong and reflected the government's efforts to create jobs and keep unemployment low.
The disciplines with the highest overall salaries were dentistry (AUD 110,000) and medicine (AUD 98,400) - which were significantly ahead of engineering (AUD 77,000), law (AUD 76,000) and business (AUD 77,500). The areas of study with the lowest rates of full-time employment were humanities, creative arts, psychology and communications, with less than 85 per cent in full-time employment.
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Michelle is a freelance content writer graduated from Curtin University with a degree in Communication (Commercial writing). Michelle loves to travel and enjoys walking on the beach. Michelle also feeds on psychology quote and will give away just about anything to cuddle with furry felines.