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Getting A Higher Degree Is The Best Way To Beat Australia's Weak Pay Rises

Dan Kitwood/Getty Images

Employers are increasingly paying more for staff with a higher degree, according to the annual survey of Graduate Careers Australia.

Having a higher degree gets you on average 5.3% more than it did last year, compared to a 2.6% rise across the board for Australians.

The overall median salary for all postgraduates in 2013 was $79,000, a rise of $4,000 from 2012.

A postgraduate diploma/certificate was worth $72,000 a year, up $2,000 from 2012, a coursework masters $80,000 (up $1,000) and a research masters/PhD was $80,000 (up $4,000).

The highest paying masters degrees are for those associated with mining engineering at $150,000, dentistry $150,000, aeronautical engineering $100,000 and ­business $100,000.

Most (82.7%) postgraduates have a job four months after finishing their degree.

However, 7.5% of postgraduates available for full-time employment were still seeking a job compared to 6.3% the year before.

Here’s the pay for having a postgraduate degree:

The Postgraduate Destinations 2013 report is based on survey responses from almost 139,000 higher education graduates.

The Australian Financial Review has an interactive chart HERE.

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