Time was, you needed a degree to earn the really big bucks. But now, with something like 40% of 18-year-olds off to university each October, the currency is perhaps a little diluted. That's not to mention the small matter of the personal debts that rival Cuba's, a media qualification of dubious value and a thousand cider-based hangovers.

With some observers suggesting that higher education, with its myriad of new universities, has been 'dumbed-down', the alternatives can seem quite appealing. The good news is that enterprising 18-year-olds can still land gainful employment. Here are a few alternatives:

Fast-food management trainee

Money: Start on around £18,500 (source: McDonald's).

Involves: Commercial management in its fullest sense. Many restaurants have a million pounds-plus turnover and employ 60 or more. Need financial, marketing and operational know-how, as well as a talent for team-building.
Search for fast food management trainee jobs.

Commercial airline pilot

Money: Co-pilots earn from £30,000 to £40,000 as basic pay; captain from £55,000 to £70,000 (source: Learndirect)

Involves: Flying long- and short-haul flights. To get the right qualifications, you'll need to go on a Civil Aviation Authority course lasting anything from nine to 36 months. You'll need a sound knowledge of maths and physics, and be Class 1 medically fit, to standards approved by the CAA.
Search for jobs as an airline pilot.

Air-traffic controller

Money: Supervisors and senior controllers earn up to £80,000 a year (source: Learndirect).

Involves: Tracking the exact position of aircraft, directing them along the most efficient route, and managing their descent. Aerodrome controllers work from a visual control tower and look after planes as they arrive and depart.
Search for jobs as an air-traffic controller.

Army Officer

Money: The more senior ranks can earn £41,329 to £84,008 a year (source: Learndirect).

Involves: Leading and managing a team of trained soldiers. Looking after the effectiveness, training, welfare and career development of the soldiers under their command. Playing an important role in NATO and UN operations all over the world. Some peacekeeping and humanitarian roles.