The report, commissioned by the Department for Business, Innovation and Skills (BIS), provided evidence on the impact of higher education on lifetime net earnings and found that female graduates see an increase of 53%.

Male students can expect to increase their lifetime earnings by £165,000.

The Relationship Between Graduates and Economic Growth Across Countries report also showed that university study contributes significantly to the UK economy.

An increase in the number of graduates accounted for:

 around 20% of the UK’s economic growth between 1982 and 2005

 at least a third of the increase in labour productivity from 1994 to 2005

Universities and Science Minister David Willetts said: “As students discover their A Level results this new data highlights just what a great long-term investment university is.

“A degree remains one of the best pathways to achieving a good job and a rewarding career – as well as a hugely enjoyable experience for most students.”