Undergraduate degree
In the United Kingdom, a bachelor's degree is the most common type of "undergraduate degree". Some master's degrees can be undertaken immediately after finishing secondary education; however, these courses are usually extended versions of bachelor's degree programs, taking an additional year to complete. Most bachelor's degrees take three years to complete, with some notable exceptions, such as Medicine taking five years. Often students can initially enroll in a 4-year program then leave after three years and be awarded a bachelor's degree.
Academic capital
Whereas the biggest stepping stone to attain a higher paying career used to be an undergraduate degree, the common discussion in today’s market is the devalued status of a Bachelor’s degree. A Bachelor’s degree no longer holds the same academic capital it used to, and holding such a degree no longer entitles one to the same job opportunities and income possibilities it used to. Government statistics reveal that over the past 8 years, the average weekly earnings of individuals with bachelor's degrees have actually decreased, in relation to inflation, by nearly 2%. Therefore, many individuals are studying beyond four-year institutions in order to increase their capital and ultimately their income. When compared to an individual with a bachelor's degree, an individual with a graduate degree makes, on average, nearly $75,000 more annually.