Every May and June, sixth-form students prepare for what are, up to that point, the most important exams of their lives: A-levels. Their gateway to university. Year 13 is, for many, the first time they will face uncertainty, fear and excitement for their upcoming future. A-levels are just the start of something bigger than university – adulthood, which brings with it a whole new set of decisions and important questions. But what if you choose not to go to university?
To start thinking about whether it is worthwhile going to university, we should probably start discussing the alternative – not attending university, or in economic terms, the opportunity cost of attending university. But if you don’t go to university, you have alternatives. You can enter the UK workforce, starting in what is called an unqualified position, for example as a retail assistant or a warehouse operative. As of April 2024, the national living wage for workers aged 18 and over is £8.60 per hour. In this case, your annual salary would range from £16,000 to around £19,000. A retail assistant earning the minimum wage and working full time would earn approximately £16,770 annually.
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