Saga of Amour and Financial Gain
The report titled "For love or money? Graduate motivations and the economic returns of creative higher education inside and outside the creative industries," published by the Creative Industries Policy and Evidence Centre and the University of Sussex in August 2020, sheds light on the complex nature of evaluating the economic value of creative higher education.
While earnings data is often used to assess the financial return or value for money of degrees, this report stresses that the value of creative education includes intrinsic motivations such as passion and vocational satisfaction, as well as economic returns both within and beyond the creative industries.
Researcher Martha Bloom, from the Science Policy Research Unit (SPRU) at the University of Sussex, conducted the study, which was commissioned by the Creative Industries Council. The report was peer-reviewed prior to publication.
The report finds that creative higher education provides graduates with high-level creative skills necessary for their chosen careers. However, it suggests that relying solely on salary data as an indicator of higher education's value for money may be problematic.
This is because many graduates of creative programs may pursue varied career paths where earnings might be lower or less directly linked to their field of study. Yet, the education still provides substantial personal and societal value through creativity, innovation, and cultural contributions.
Therefore, using earnings data alone risks undervaluing creative education's broader benefits and graduate motivations that are not purely financial. The report argues for a balanced evaluation of creative higher education’s worth—one that weighs both economic returns (often captured by earnings data) and non-economic factors (like passion, creativity, and diverse career outcomes)—to properly understand its value for money.
The study also discusses post-Brexit migration and accessing foreign talent in the Creative Industries, detailing the migrant and skills needs of creative businesses in the UK. However, it does not provide specific details about the potential market failures in the Creative Industries or discuss solutions or recommendations for addressing these issues.
The report also touches upon the economic consequences and potential market failures related to The BFI’s Research. It highlights potential issues with disruptions to the creative talent pipeline, which could harm the sustainability of the UK's fast-growing creative industries and other sectors that rely on creative work.
The study falls under the category of International, Trade, and Immigration. The report, photographed by Retha Ferguson, is available for reading at the provided link. However, it does not mention any specific findings or conclusions, nor does it provide any data or statistics about the impact of Brexit on the Creative Industries.
- The report argues for an analysis that considers both economic returns and non-economic factors when evaluating the value of creative higher education.
- Creative higher education equips graduates with high-level creative skills for their chosen careers, according to the report titled "For love or money?"
- The study by Martha Bloom, from the Science Policy Research Unit (SPRU) at the University of Sussex, discusses post-Brexit migration and the skills needs of creative businesses in the UK.
- The report, published by the Creative Industries Policy and Evidence Centre and the University of Sussex, highlights potential economic consequences and potential market failures related to The BFI’s Research.
- This report stresses that the economic value of creative education includes not only profits but also intrinsic motivations such as passion and vocational satisfaction.
- The report has been peer-reviewed prior to publication and is related to the International, Trade, and Immigration category.
- The education and self-development, including online education and learning, foster creativity, innovation, and cultural contributions beyond the creative industries.
