October 2014
Featured in this insight: Education, Financial services
To fund their studies, 61% of students are working during term time: A proportion of students are earning £30,000 a year, as around two thirds of students are working to fund their studies. This figure is above average for salaries in the UK.
Whilst studying a university degree, 61% of students are opting to have a job alongside their course.
Santander reported that on average, a student earns £4,478 per year and works part-time for 8 hours per week during term-time and 18 hours per week during holidays and half terms.
However, approximately one third of students work for a minimum of 30 hours per week, whilst working towards their degree. Combined, this is equivalent to full-time work.
With the UK average salary at £26,500 per annum, 6% of students earn between £12,000 and £30,000.
Which degree the student is studying also contributes to the amount of hours a student works, the study found.
The report showed that students studying accounting and finance earn the largest wage at £7,037 per annum.
It was also found that 69% of students on a law or business and admin course were those most likely to be in employment.
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