Higher education has been a key factor behind economic expansion and rising living standards over recent decades. But there has been mounting concern recently over the quality of opportunities open to young graduates. Poor job prospects and low wages have resulted in emigration for many of our brightest.
Against this backdrop, the results of a new survey of graduates by the Higher Education Authority make for encouraging reading. The What Do Graduates Do? report shows employment opportunities have improved significantly in recent years, the number of people emigrating has fallen and starting salaries have crept upwards. As the education level of graduates' increased, so too did their salaries. Just over half of honours bachelor degree-holders who graduated in 2014 earned €25,000 or more. This rose to 91 per cent among those with doctorates; almost a third of them earning in excess of €45,000. Computer science/information and communications technology honours bachelor degree graduates were the highest earners.
However, there were some worrying signs. Arts and humanities graduates were significantly more likely than others to say their education was of little relevance to their employment. They were also more likely to earn significantly less. Emigration rates remained high in some sectors, such as teaching and education.
While the overall findings are positive, they do not hide the pressure facing the higher education system. Funding shortages mean that class sizes, the quality of programmes and learning outcomes are under threat.
The quality of our higher education system remains paramount. As the volume of graduates increases globally, we need to build world-class universities and colleges which can compete with the best. This requires high-quality teaching, active scholarship of academic staff and a high level of engagement with students. More urgently, it requires a fit-for-purpose funding model which can help us realise the scale of our ambition. Our young graduates and wider society demand it.