Text IB. THE VALUE OF POSTGRADUATE EDUCATION
Over the last twelve years, the number of people undertaking postgraduate education in the UK has grown 36% — faster than the growth in the undergraduate sector over the same period. Now, almost a quarter of students in UK Higher Education Institutions (HEls) are studying at postgraduate level and half of international students studying in the UK are taking a postgraduate qualification.
Compared to the undergraduate sector, postgraduate provision has had relatively little attention paid to it by policy makers, despite the fact that postgraduate education is of enormous value to the UK and will play a crucial role in driving innovation and growth — particularly in the areas the UK Government has identified in New Industry, New Jobs. Recognising this, Lord Mandelson asked for a review into whether the postgraduate system in the UK works as well as it could, and whether there is value in government adopting a more strategic role in shaping the direction of this sector.
The review has found that postgraduate education in the UK is a great asset — it is world leading in many areas. But there is scope to build on this success. Making postgraduate provision more responsive to employers’ needs and encouraging more people to train to postgraduate level will ensure that the UK has the higher level skills needed to succeed in a global knowledge economy. This will be critical to securing the location of high-value business in the UK and to the creation of new employment opportunities in growth sectors.
As other countries invest heavily in their own postgraduate provision, the UK will need to work hard to maintain its competitive advantage. This will mean doing more to strengthen and promote UK postgraduate education on an international stage and to attract the very best students from around the world. It will be even more important to ensure that we get the best possible value from the money that taxpayers, employers and individuals invest in postgraduate education.
The UK benefits from a diverse postgraduate system, in which a wide range of postgraduate qualifications and modes of study have evolved to meet the needs of different stakeholders.
Cutting-edge research conducted by postgraduates in our worldleading research centres contributes significantly to the health of the UK research base. The UK delivers 8% of world research output, is second only to the US in a number of research disciplines and first amongst the G8 for research productivity. The talent developed in our postgraduate education system is critical to maintaining this success.
The advanced knowledge and capability of postgraduates are highly prized by business and the public sector. The skills of postgraduates, especially researchers, are critical for tackling major business challenges and driving innovation and growth. The UK’s ability to provide people skilled to this level is an important factor in attracting global businesses to locate high-value operations here.
Many employers benefit from postgraduate skills, and not just those in knowledge-intensive industries. Taught postgraduate courses provide people with the skills they need to work in a range of careers and play an important role in translating postgraduate research into practice. Increasingly, postgraduate level continuing professional development is being developed with and for employers and delivered in flexible ways. This model of responsive and tailored postgraduate provision will play an important role in upskilling and re-training the UK workforce.
Financially, the growth in postgraduate numbers has benefited universities enormously. Taught postgraduate provision alone brought in income of over £1.5bn for universities in 2008-2009. Attracting and retaining high-calibre, taught postgraduate students is a valuable way for universities to recruit postgraduate researchers, who are an integral part of HEIs’ research capability.
Although less easy to quantify, there are social and cultural benefits attached to a strong postgraduate sector. By encouraging people to question established knowledge, postgraduate education promotes a culture of open and intelligent debate which stimulates innovation and new approaches to tackling difficult challenges. The international diversity of postgraduate education in the UK generates a vibrant and stimulating environment that brings together a variety of cultural knowledge, experience and insights.
In general, the value that postgraduate education brings to the UK is under-researched and under-appreciated. Universities and the Research Councils should do more to identify and promote the economic and social value of postgraduate study.
Postgraduates are highly employable and, on average, earn more than individuals whose highest qualification is an undergraduate degree. They are also more likely to enter professional and managerial occupations and to earn more over their lifetime — although thisvaries considerably by subject and mode of study. Wider promotion of the different reasons for, and value of, undertaking postgraduate study would help to encourage a wider range of people to consider how it could benefit them. The UK Government should consider how to promote postgraduate study to individuals by building on existing campaigns to promote the potential benefits of higher education and skills [Bradshaw, Burnett, Docherty, Purcell, Smith, Worthington, 2010: 4-5].