There’s another option if you worry about the debt from a university degree. Don’t do one. Global jobs site, Indeed, has just completed Australian research into the highest paying jobs that don’t require a degree.
Indeed analysed the salaries offered by tens of thousands of job adverts to identify ten roles open to non-graduates that pay substantially more than the average Australian annual salary of $82,000.
Top of the list are construction managers, who on average can expect to earn a $155,463 a year, about 90% above the national average salary.
While some constructions managers may well have degrees or qualifications, many learn the skills through experience.
“This data proves that choosing not to study at university after school does not automatically mean settling for a lower salary later in your career. Although most of the roles on our list do require some form of training, they don’t require a university degree,” says Ricky Fritsch, Australia Managing Director at Indeed.
“While having a degree typically increases your earning potential over time, the cost of gaining one is substantial.
“And when you factor in that a significant number of graduates enter the workplace in non-graduate roles outside their field of study, having to work up the ladder and earn their spurs before they can get into higher-paid traditional graduate jobs, many school-leavers will be asking themselves whether the cost of doing a degree adds up.
“Our research should reassure parents and teenagers as they head into exam season at the end of the year that there are numerous routes into study and employment, and that high salaries are by no means exclusively the domain of those heading off to university next year.”
A bachelor degree will cost from $20,000 upwards. Debt repayments for HECS, a federal government loan scheme to help students to pay for their degrees, will from 2019 kick in at an income level of $42,000 rather than the current $55,874.