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How much would you say a degree is worth in terms of money and time?

Hi.
I'm not sure which forum exactly my question belongs to, so I'm just posting a general question here.
How much is a degree generally worth? And how much would you be willing to spend on a degree?
Now, you can also go through my personal situation here and answer my query related to that if possible, which will be of great help.
I'm an international student hoping to study law. I've gotten into the University of Kent, Leicester and Lancaster in the UK. This is solely for a single degree (LLB) in law. My tuition fees would come up to about 40,000 pounds and my living costs would come to about 25,000 pounds for 3 years (I'm assuming), which would total about 65,000 pounds. My 1st choice is Leicester, since I've heard that it is a great university which compares to some of the Russell Group unis and a First from there would land me in a great position to secure a TC even if I'm an international student.

Now, I've also received an unconditional offer from the University of Sydney for a Bachelor of Commerce and Bachelor of Laws. This is a very well reputed uni on the global stage (it's 11th in the world for law and its faculty is 14th for commerce) and in Australia (it's the second best uni in Australia). This degree would be for 5 years. Now, the thing is that there is a pathway for exceptional students, which allows them to also apply for and complete a BCL in Oxford or LLM in Cambridge in the same amount of time. So if I am in the top 3-5% of my class, I'd complete an LLB, a BComm from the University of Sydney and a BCL/LLM in 5 years. Obviously, this does appeal to me.
However, the tuition costs themselves are extravagant. 20,000 pounds per year. Sydney is a very expensive place to live and the minimum living costs would be about 11-12,000 pounds per year. So totally, I would be spending about 150,000 pounds for my higher education for 3 degrees (assuming of course I get into Oxford/Cambridge).

This means a difference of 85,000 pounds between the UK and Australia. Obviously, this is a massive amount of money, but my parents would be sponsoring for my education. So I would not have to repay student loans or anything of that sort.
The interesting thing is that both degrees would only allow me to secure a TC or graduate program in Australia for approximately the same starting salary. About 35-40000 pounds.

I appreciate the fact that you read my whole post.
Now, how much would you say a postgraduate law degree from Oxford/Cambridge and a BComm from a very good university is worth?
Is it worth spending 2 years? (I think it is). I don't want to consider the opportunity costs of spending 2 years studying rather than working.
Is it worth spending an extra 85,000 pounds? Not just in terms of career progression, but also in terms of knowledge, experience gained etc. (I am not quite sure).
If it's not worth spending that much, how much would you say it is worth? An approximate valuation.

I would really appreciate your honest opinions on this.
Thank you so much for reading and replying!
Hi, I'm considering the exact same course as an international IB student and I have some questions and answers for you. U Sydney really appealed to me because it's unique from the UK and US - the only place you can really get two degrees with one being a law degree (as far as I know).

If your parents are paying for it and they are fine with the extra financial cost, I would say to do it. It's still far less expensive than the US. I didn't even know about the Oxford BCL—it's just another plus! Sydney is phenomenal. I don't know if you've spent much time there, but university life there compared to the UK would be valued at far more than the extra cost, so you would more than break even. You can't pay for good weather, amazing beaches for surfing, and a stunning outdoor environment for hiking, biking, or anything really especially valuable if you're an outdoorsy person; I guarantee that your quality of life will be higher there if you are.

Would you mind sharing what grades you had, which prompted them to give you an unconditional offer? That would be immensely helpful for me in trying to balancing my uni application. Thank you in advance! :smile:
It's a hard one, here's my two cents (NB, I'm I science student, not law):

UK:
- your universities are middle-ranked IMO, definitely looking into the statistics of how many of their graduates actually get into law careers, bear in mind that getting a TC is generally considered more challenging than getting into the LLB course.
- the cost is cheaper and the time spent less, so if your research into employability shows that both programs give you similar opportunities then it would make more sense on paper

Australia:
- program sounds great with much more opportunities to get more qualifications and letters next to your name...
- is a lot more money, look into the average graduate starting salaries and progression statistics calculate if financially you will be 85,000 pounds better off in the long run...
- personally, I think time isn't that much of an issue when studying, if anything a longer degree gives you more summers to get internships or travel...
- it's very competitive to get into the Oxbridge side of the program, everyone goes into uni with all the best intentions but it's really not going be easy when everyone is so aware of the prize... Of there wasn't that part to the program would you still pick it over the UK?

You've also got to bear in mind that uni isn't just about your studies and career, if you're going to live there for 3-5 years you'll also need to consider whether you like the:
- city
- campus
- accommodation
- extracurricular activities
- climate
- country in general/ travel opportunities
- teaching style
- module options
- opportunities for year abroad/ placement year (and how competitive they are to get)
- etc.

Personally, is probably go for the UK based on the price, but if price isn't that much of an issue for you then I'd pick Australia...
Original post by pinkisthefloyd
Hi.
I'm not sure which forum exactly my question belongs to, so I'm just posting a general question here.
How much is a degree generally worth? And how much would you be willing to spend on a degree?
Now, you can also go through my personal situation here and answer my query related to that if possible, which will be of great help.
I'm an international student hoping to study law. I've gotten into the University of Kent, Leicester and Lancaster in the UK. This is solely for a single degree (LLB) in law. My tuition fees would come up to about 40,000 pounds and my living costs would come to about 25,000 pounds for 3 years (I'm assuming), which would total about 65,000 pounds. My 1st choice is Leicester, since I've heard that it is a great university which compares to some of the Russell Group unis and a First from there would land me in a great position to secure a TC even if I'm an international student.

Now, I've also received an unconditional offer from the University of Sydney for a Bachelor of Commerce and Bachelor of Laws. This is a very well reputed uni on the global stage (it's 11th in the world for law and its faculty is 14th for commerce) and in Australia (it's the second best uni in Australia). This degree would be for 5 years. Now, the thing is that there is a pathway for exceptional students, which allows them to also apply for and complete a BCL in Oxford or LLM in Cambridge in the same amount of time. So if I am in the top 3-5% of my class, I'd complete an LLB, a BComm from the University of Sydney and a BCL/LLM in 5 years. Obviously, this does appeal to me.
However, the tuition costs themselves are extravagant. 20,000 pounds per year. Sydney is a very expensive place to live and the minimum living costs would be about 11-12,000 pounds per year. So totally, I would be spending about 150,000 pounds for my higher education for 3 degrees (assuming of course I get into Oxford/Cambridge).

This means a difference of 85,000 pounds between the UK and Australia. Obviously, this is a massive amount of money, but my parents would be sponsoring for my education. So I would not have to repay student loans or anything of that sort.
The interesting thing is that both degrees would only allow me to secure a TC or graduate program in Australia for approximately the same starting salary. About 35-40000 pounds.

I appreciate the fact that you read my whole post.
Now, how much would you say a postgraduate law degree from Oxford/Cambridge and a BComm from a very good university is worth?
Is it worth spending 2 years? (I think it is). I don't want to consider the opportunity costs of spending 2 years studying rather than working.
Is it worth spending an extra 85,000 pounds? Not just in terms of career progression, but also in terms of knowledge, experience gained etc. (I am not quite sure).
If it's not worth spending that much, how much would you say it is worth? An approximate valuation.

I would really appreciate your honest opinions on this.
Thank you so much for reading and replying!


You haven't studied at university level, assuming you'll be in top 3 to 5% is huge assumption, unsurprisingly is pretty rare and hard. Your probability is pretty much 3-5%, and law is sort of subjective where there is a significant luck element as to who the best students are. You aren't being assessed objectively like in maths. Sydney is a much better university than Leicester and comparing the cities is a joke, Sydney is one of the best places to live in the world.

Anyway you can't put a monetary figure on these sorts of things. There's opportunity cost of time, some courses will offer you more opportunities, etc.

In law in Australia, the master's in law means very little. Just bear it in mind. In Europe, those degrees would mean much more.

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(edited 7 years ago)
Original post by dragonkeeper999
It's a hard one, here's my two cents (NB, I'm I science student, not law):

UK:
- your universities are middle-ranked IMO, definitely looking into the statistics of how many of their graduates actually get into law careers, bear in mind that getting a TC is generally considered more challenging than getting into the LLB course.
- the cost is cheaper and the time spent less, so if your research into employability shows that both programs give you similar opportunities then it would make more sense on paper

Australia:
- program sounds great with much more opportunities to get more qualifications and letters next to your name...
- is a lot more money, look into the average graduate starting salaries and progression statistics calculate if financially you will be 85,000 pounds better off in the long run...
- personally, I think time isn't that much of an issue when studying, if anything a longer degree gives you more summers to get internships or travel...
- it's very competitive to get into the Oxbridge side of the program, everyone goes into uni with all the best intentions but it's really not going be easy when everyone is so aware of the prize... Of there wasn't that part to the program would you still pick it over the UK?

Personally, is probably go for the UK based on the price, but if price isn't that much of an issue for you then I'd pick Australia...


Thank you very much for the reply! Though it is a bit late, considering that I actually already started uni haha. But it's still very much appreciated.

In the end, it was a very hard choice to make, but I went with Australia. There was a huge difference in price, but I just felt that everything put together, it was a better option.
Original post by Newcastle456
You haven't studied at university level, assuming you'll be in top 3 to 5% is huge assumption, unsurprisingly is pretty rare and hard. Your probability is pretty much 3-5%, and law is sort of subjective where there is a significant luck element as to who the best students are. You aren't being assessed objectively like in maths. Sydney is a much better university than Leicester and comparing the cities is a joke, Sydney is one of the best places to live in the world.

Posted from TSR Mobile


Very true, I am in no way assuming that I'll actually be in the top 3-5%. My assumptions were purely for best case scenario vs worst case scenario. Best case scenario, I was assuming I'd be in the top 3-5%. Putting best case scenarios and worst case scenarios for both unis, I saw that USyd edged Leicester in both accounts.

Thank you very much for the reply!
Original post by pinkisthefloyd
Thank you very much for the reply! Though it is a bit late, considering that I actually already started uni haha. But it's still very much appreciated.

In the end, it was a very hard choice to make, but I went with Australia. There was a huge difference in price, but I just felt that everything put together, it was a better option.


Haha, oops I should look at the dates people post lol!

Awesome, great decision! Good luck!
Original post by hannah.h.hk
Hi, I'm considering the exact same course as an international IB student and I have some questions and answers for you. U Sydney really appealed to me because it's unique from the UK and US - the only place you can really get two degrees with one being a law degree (as far as I know).

If your parents are paying for it and they are fine with the extra financial cost, I would say to do it. It's still far less expensive than the US. I didn't even know about the Oxford BCL—it's just another plus! Sydney is phenomenal. I don't know if you've spent much time there, but university life there compared to the UK would be valued at far more than the extra cost, so you would more than break even. You can't pay for good weather, amazing beaches for surfing, and a stunning outdoor environment for hiking, biking, or anything really especially valuable if you're an outdoorsy person; I guarantee that your quality of life will be higher there if you are.

Would you mind sharing what grades you had, which prompted them to give you an unconditional offer? That would be immensely helpful for me in trying to balancing my uni application. Thank you in advance! :smile:


Hi I'm so sorry I didn't see this the last time I posted.
Well, I actually had only 3 Bs and 1 C at A levels. When I was applying, I had finished my A levels and was taking a gap year. Their domestic cutoff is incredibly high, 99.50. But their international cutoff academically is much lower, 94.50 (presumably since they charge three times the fees). This might still seem daunting, but it really isn't actually. The ATAR to A levels or IB cutoff is incredibly one-sided. I'm not sure what IB result you would need to meet the entry requirement, but I'm sure that it'll not be a problem at all.
What might have helped my application is the fact that I'd already done 4 internships, plus I'd won a bunch of other awards. Also, the reason I did so badly in my A levels is that I was sick during most of 11th and 12th grade, so I did attach a medical certificate to my application.

All this is just extra information though. I'm not quite sure about this, but I've heard this from many of the local students (and international students) studying my course. Most of the international applicants get accepted. Especially if you're doing a degree like law, which doesn't have too many other international applicants. USyd has a domestic:international student ratio for each course, so I don't think it'll be too much of a problem if you work on your app for a few days and get decent grades.

Of course, the level here is pretty high; the domestic students you're competing with are the best in Sydney and some of the best in Australia. I haven't started law yet (can only start law in Feb, so if you join in july, you can only do subjects of your other degree), but I've met a lot of law students; they all tell me that it's tough work.

The fact that you can't pay for good weather etc. is completely true. I've been having a great time here. I didn't take the city life too much into account when I was making my decision, but looking back, it's very, very important. The uni's atmosphere is just absolutely brilliant. The city is beautiful as well.

I'm sorry my answer is all over the place I had a few drinks an hour ago, so my concentration is not entirely on this. I still think I answered all of your questions; any other questions about the uni, feel free to ask!
Original post by dragonkeeper999
Haha, oops I should look at the dates people post lol!

Awesome, great decision! Good luck!


Haha that's all right, your insights were still very valuable!
Thank you so much!
Micky mouse degrees - maximum £500 per year
Humanities- £3000 per year
Vocational/ STEM degrees-£9000 per year
Micky mouse degrees - maximum £500 per year
Humanities- £3000 per year
Vocational/ STEM degrees-£9000 per year
Reply 11
Let me put it this way, law degrees and lawyers are as common as dirt so you generally needto be lucky/connected and very skilled. Otherwise it's not very useful [The university also factors in] easier to do something else and do a conversion course after.
Hello,do you mind if I ask you how did you get an unconditional from Sydney, because I want to apply to Sydney for law at 2019 Semester 1.
Original post by 28581919
Hello,do you mind if I ask you how did you get an unconditional from Sydney, because I want to apply to Sydney for law at 2019 Semester 1.


Hey, yes I did.

That certainly sounds like a great option; ask me any questions that you have and I'll try my best to answer.

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