Study shows students are cashing in with term-time jobs

15 August 2007
Half the students who work during term time earn more than £100 a week - and some earn up to £6,000 a year, a new survey has revealed.

According to the first annual study of student finances by Halifax, over half of students (52%) work to fund their studies and living costs while at university.

In addition to help from parents, savings and government grants, students rely on part-time and holiday jobs to see them through their studies with the average weekly wage across the UK amounting to £112.20 a week with the top earning students (15%) managing to rake in over £200 per week.

The study also revealed that students in the east of England were bringing back the biggest wage packets with £131.70 per week on average while those in the East Midlands recorded the lowest weekly earnings at £95.50.

Students in Scotland are the most likely to work (67%) and are managing to clock up an impressive 20 hours a week, compared to the national average of 17.8 and again students in the east of England appear least likely to get jobs with only 44% claiming to subsidise their students loans and overdrafts with other work.

And it appears that girls are harder workers with 60% taking on a part-time job compared to only 44% of boys.

Commenting on the data Sue Harper, head of student banking at Halifax said: "With the end of the student grant and the start of tuition fees, student finance has become a much more complicated picture. Working during term or through holidays is a financial necessity for many students.

"It's important for any student to make every penny they earn work its hardest; from making sure they have the best bank account to ensuring they're not paying any tax they needn't."

Worryingly, a quarter of those working students surveyed did not know that they could earn money without paying tax. Students who only work during their holidays and will not earn more than the tax threshold, £5,225, can complete form P38(S), which will ensure their wages are paid without tax deductions, however those with part-time jobs around the year are taxed in the same way as any other worker.

Learn more about student money and student savings accounts