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Untalented rich still earn more, says Greening

The BBC reports. Low-ability youngsters from wealthy families go on to earn more money than their more gifted, poorer counterparts, Education Secretary Justine Greening has said to a Social Mobility Commission event. Children from high-income backgrounds who show low academic ability at age five are 35% more likely to become high earners than poorer peers Read More

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Social mobility: Class pay gap found in UK professions

BBC’s Katherine Sellgren reports on recent findings from the Social Mobility Commission. Research carried out by academics from the London School of Economics and University College London found that UK professionals from working-class backgrounds are paid £6,800 less on average each year than those from more affluent families. The 17% average pay gap highlighted how Read More

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Universities told to help poor find jobs

Greg Hurst of the Times reports. Social mobility champion and commission chairman, Alan Milburn, informed the Bridge Group that advances in broadening university intakes had been too incremental. Milburn suggested that current projections estimate it would take 50 years to close the gap in participation rates between rich and poor students. He further advocated for Read More

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Investment banks must do more to remove social mobility ‘roadblocks’, says watchdog

CIPD’s Greg Pitcher comments on the Social Mobility Commission’s findings. A report from the Social Mobility Commission reveals that recruiters from investment banks often overlook aptitude in favour of ‘fit’ and ‘polish’. This is reflected in the underrepresentation of people with a disadvantaged socio-economic background in front-office investment banking jobs. The commission suggests this may Read More

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Top graduates missing out on banking jobs for lacking ‘polish’

The Guardian’s Amelia Hill reports on the Social Mobility Commission’s research entitled “Socio-Economic Diversity in Life Sciences and Investment Banking”. Graduates hoping to secure a job in investment banking should avoid brown shoes, flamboyant ties and ill-fitting suits the Social Mobility Commission’s most recent report suggests. The social exclusion found in the sector is caused Read More

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Less affluent kids are locked out of investment banking jobs

A new report by the Social Mobility Commission highlights a culture of conformity in investment banking. Because investment banks focus their recruitment efforts on a small pool of elite universities, they are failing to hire talented undergraduates from less advantaged backgrounds. This is also due to the tendency to hire those that fit in with Read More

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UK study shines light on value of university degree

The Financial Times’s Public Policy Reporter, Gonzalo Viña, discusses the new IFS study. This first ‘big data’ approach to graduate earnings highlights significant variations in earnings depending on student background, degree subject and university attended. According to the IFS’s research, graduates from richer family backgrounds earn significantly more after graduation compared to their poorer counterparts Read More

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Top jobs still dominated by privately educated, study finds

Sebastian Mann from the Evening Standard discusses new research published by the Sutton Trust. According to a recent report published by the Sutton Trust, privately educated students continue to dominate Oxbridge intakes, government, the media and other elite professions. This means that young people from disadvantaged backgrounds are less likely to land influential and financially Read More