Growth in university education is affecting graduate earning power

Bank of England says graduates can still expect to earn more than those without degrees but supply has exceeded demand

The rapid expansion of university education is affecting the earning power of graduates, according to a Bank of England study showing the value of a degree has declined sharply over 20 years.

Threadneedle Street said those leaving university could expect to earn more over their working lives than people without academic qualifications, but that the wage premium had been cut from 45% to 34% between 1995 and 2015.