GeraLearn / Degree salary comparison
Economics vs Law: Graduate Salary Compared
Five years after graduating, UK Economics graduates earn more — a median £50,400 vs £32,100 for Law. That is £18,300 more (57%). Real DfE LEO figures, 2022-23 tax year.
Quick answer
Economics pays more than Law: a 5-year median of £50,400 versus £32,100 — a £18,300 (57%) gap. Source: DfE LEO, 2022-23 UK tax year (DfE LEO graduate outcomes).
Earnings compared, side by side
Median gross annual earnings of UK-domiciled first-degree graduates, 2022-23 tax year.
| Measure | Economics | Law |
|---|---|---|
| 1 year after graduation | £29,600 | £23,000 |
| Lower quartile (5yr) | £36,100 | £24,500 |
| Median (5yr) | £50,400 | £32,100 |
| Upper quartile (5yr) | £67,500 | £46,000 |
| Rank (of 34 subjects) | #2 | #18 |
| Graduates in cohort | 5,480 | 11,270 |
Ranks are by 5-year median earnings across all 34 DfE CAH level-1 subject groups.
Frequently asked questions
- Does Economics or Law pay more after graduation?
- Economics pays more. Five years after graduation, UK graduates of Economics earn a median £50,400 versus £32,100 for Law — a difference of £18,300 (57% more). Source: DfE LEO, 2022-23 tax year.
- What do Economics graduates earn one and five years after graduating?
- Economics graduates earn a median £29,600 one year after graduation and a median £50,400 five years after — with most earning between £36,100 and £67,500 (lower–upper quartile). That is £19,000 (61%) above the all-subject median of £31,400.
- What do Law graduates earn one and five years after graduating?
- Law graduates earn a median £23,000 one year after graduation and a median £32,100 five years after — with most earning between £24,500 and £46,000 (lower–upper quartile). That is £700 (2%) above the all-subject median of £31,400.
- Where do these graduate-salary figures come from?
- From the Department for Education's LEO (Longitudinal Education Outcomes) release, 2022-23 UK tax year (DfE LEO graduate outcomes). They are median gross annual earnings of UK-domiciled first-degree graduates in sustained employment, measured in the 2022-23 tax year, published under the Open Government Licence. These are medians — half of graduates earned less and half more; subject choice does not guarantee any individual salary.
Related comparisons
Data: DfE LEO Graduate Outcomes, 2022-23 UK tax year (DfE LEO graduate outcomes). Open Government Licence v3.0. Figures are medians for graduates in sustained employment and do not guarantee individual earnings. A Gera Systems product.