Debates about the “graduate premium” must extend beyond earnings alone, according to a leading charity, after its research found that degree holders tend to have better well-being than people who did not go to university.

Analysis published on 13 May by the Sutton Trust found that 27.5 per cent of UK graduates who participated in a major survey reported high well-being, compared to 24.7 per cent of non-graduates. Some 16.1 per cent of people who did not go to university reported having low well-being, compared to 12.8 per cent of degree-holders, according to data from more than 15,000 respondents to the 2021-22 round of the UK Household Longitudinal Study.

The Sutton Trust acknowledges that education is closely linked to socioeconomic background and status, but adds that the positive impact of completing a degree holds true across the four main social mobility “trajectories” it examines in its report.

“Our results show a clear association between higher well-being and having a degree, regardless of the socio-economic returns. Even for those graduates who may not have got a professional job…a degree still translates to a boost in well-being,” says the report.

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The report’s broader findings were that, although people from professional households who maintain this status throughout their lives are 33 per cent more likely to experience high well-being compared to those who remain in routine occupations, upward social mobility could close most of this gap. Downward mobility has a negative impact on well-being, but these individuals appear to be protected from some of the negative aspects of lower socioeconomic status on well-being.

In separate polling conducted by the trust, respondents said that higher education was the most important factor contributing to upward social mobility, picked by 30 per cent of individuals, ahead of job opportunities in your area (28 per cent) and personal values and attitudes (26 per cent).

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The report, The Good Life? The relationship between social mobility and happiness cautions that it is not possible to establish a causal relationship between higher education and well-being. The findings may reflect differences in the type of people who are able to complete a degree – for example, whether they have caring responsibilities.

But it argues that its research should be used to “broaden conceptualisations” of the graduate premium.

“It is widely recognised that the university premium – that is the higher salaries that graduates can on average expect compared to non-graduates – is reducing. However, this research finds that graduates have greater happiness and well-being than non-graduates,” the paper says.

“This suggests that the university premium should not only be measured in terms of financial returns and that this should inform debates about university attendance among young people. Young people should continue to be encouraged to go to university if appropriate for them.

“Reform of the student finance system is also required to make it more equitable for students from low-income backgrounds.”

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This is not the first study to find a positive association between higher education and well-being; analysis published by the Higher Education Funding Council for England in 2017 found that graduates tended to be more satisfied with their life, more resilient and less anxious than those without university qualifications.

But it comes amid growing debate about the value of studying for a degree and this conversation increasingly focusing only on the financial returns of higher education.

“It’s clear that higher education is still a route to social mobility, and it continues to benefit people’s confidence, civic participation, social networks and intergenerational effects on children’s life chances,” said Nick Harrison, the trust’s chief executive.

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“We mustn’t forget that higher education can be a positive life-changing experience, and its benefits shouldn’t be reduced simply to how much you earn afterwards.”

Universities UK has long called for the development of a broader conception of the value of higher education.

“We know that higher education transforms lives and it is brilliant to see this research from the Sutton Trust further illustrate that going to university is linked to greater well-being,” said Malcolm Press, the group’s president.

“Higher education remains instrumental to the social mobility our country needs. We look forward to continuing to work in partnership with the government to ensure that all those who have the potential to benefit from a university education are able to do so.”

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chris.havergal@timeshighereducation.com