A new survey has found that more education equals higher pay.
Leading global advisory company Willis Towers Watson, carried out a study which found people with a bachelors degree usually start with a salary of about €31,000 compared with a school leaver who starts on about €24,600.
Having a masters degree in Ireland leads to an average salary of €34,300, an MBA leads to €35,500, and a doctorate could mean €38,700.
Data lead with Willis Towers Watson, April McDonnell says that while it is costly to go to third level, it is worth the investment.
Ms McDonnell: "Unsurprisingly more education is equal to more pay and the and I think with the job market that we have at the moment and the ready demand for the right skills there is really strong competition for graduates year on year.
"So while we know that taking a degree can be a financial commitment, there is obviously a clear return on investment when we look at the findings from this research and the insights that show us the significant pay differences."