The following report provides an analysis of the weekly earnings of full-time graduate employees by age and type of degree in 2002.
Overall, the graph illustrates that individuals with a higher degree generally earn the highest salaries across all age groups, followed by those with a first degree, while individuals with other qualifications consistently earn the lowest wages. There is a trend of increasing earnings with age for all three groups, peaking around the ages of 41-45, followed by a gradual decrease in earnings for the older age groups.
Looking at the specific data, it is evident that individuals with a higher degree had the highest earnings, reaching a peak of approximately 800 pounds per week for the age group 41-45. This was followed closely by those with a first degree, who reached a peak of approximately 700 pounds per week during the same age range. Conversely, individuals with other qualifications consistently earned around 500 pounds per week throughout all age groups. It is worth noting that the earnings of individuals with a higher degree and a first degree both decreased as they entered the older age groups, settling at approximately 700 pounds and 600 pounds per week, respectively, for the age group 56-60.
Furthermore, the graph indicates a clear upward trend in earnings as age increases, regardless of the type of degree. This trend peaks at age 41-45 for both individuals with a higher degree and first degree, after which earnings begin to gradually decline for the older age groups. In contrast, individuals with other qualifications do not experience the same increase in earnings with age; their earnings remained relatively flat at around 500 pounds per week across all age categories. Therefore, it can be concluded that individuals with a higher degree or a first degree generally have the potential to earn higher salaries as they age compared to those with other qualifications.