Crazy PhD graduates from the UK are having even harder time finding a job in Britain.
The Economist reports that the average salary of a British academic is just £18,500, but many have been forced to accept low pay, poor benefits and the fear of leaving their homes after completing their studies.
A study published in The British Journal of Management this week found that in 2016, one in 10 PhDs in Britain earned less than £20,000.
This figure rose to one in four in 2020, and one in five in 2025.
It comes after a series of reports revealed that the UK has the highest proportion of PhD graduates in the EU, and is one of the least likely countries to recruit qualified graduates.
According to the UK statistics agency, ONS, only 11.9% of the UK’s PhDs entered the workforce in 2020.
In 2017, the OECD said that the number of PhDs entering the UK workforce had fallen by 7.9%.
In 2020, the number was 13.6%The OECD has been investigating the recruitment of graduates in Britain, and has suggested that many PhDs who want to return to their home countries may not be eligible for training.
“This is a significant departure from the trend seen in the past decade,” the OECD’s Director of Research, Olivier Blanchard, said in a statement.
“It is also the first time that the proportion of UK PhD graduates who are in the workforce has fallen in three decades.”
The UK is home to some of the most highly skilled workers in the world, and many of them work in the fields of medicine, law and engineering.