A report by the Institute of Fiscal Studies (IFS) recently highlighted that studying medicine or economics leads to the highest salaries but golf can also be thrown into that equation too.
A survey of graduates from the PGA and University of Birmingham’s Applied Golf Management Studies (AGMS) honours degree shows they would rank third in the IFS table which rated degrees in terms of earnings potential.
According to the IFS, ten years after graduation, male medical students earned a median wage of £55,000 while female medical students also became the highest earners, typically making £45,000 a year.
Economics was the second most lucrative degree, with male students earning a median salary of £42,000, and women earning £38,000.
The AGMS survey, conducted with AGMS graduates in 2015, highlighted the opportunities in golf by revealing that average earnings for those AGMS graduates with PGA membership, and working in the golf industry, were £34,595 – the next highest was engineering and technology with men earning on average £31,200.
AGMS graduates working in golf but who were not PGA Members earned £10,000 less with an average salary of £23,727. The mean salary across all respondents was nearly £30,000.
The survey of nearly 100 AGMS graduates showed 82 per cent were working in the golf industry with 56 per cent full PGA Members.
Findings also showed 19 AGMS graduates were employed overseas in eight different countries and earned an average of £33,968.
Gary Jackson, The PGA’s business skills development manager and AGMS programme manager, commented: “Our research shows that AGMS is an excellent qualification that allied with PGA Membership leads to earning potential that compares favourably with many other degrees and also leads to worldwide employment opportunities.
“With a recent economic impact report from Sheffield University showing that golfers in the UK spend £4.3 billion per year, golf clearly has many career choices for those with the knowledge and expertise in golf and AGMS graduates’ success in this field clearly reflects the strength and standing of the degree.”
Dr Martin Toms, from the University of Birmingham, added: “Our graduates are of the highest calibre and it is testament to them that their salaries reflect that. Also, with golf participation set to be boosted with its inclusion in the Rio Olympics, it is an exciting time to be going into the field with qualifications that are recognised globally.”
AGMS graduates rank in the salary ratings above those who have studied engineering and technology, law, physical sciences, education, architecture, maths and business science.
The IFS report was based on the student loan records of 260,000 individuals. The lowest earning graduates studied in the creative arts.