How private schools make the children of the wealthy wealthier

Children who go to private schools will out-earn their peers by almost £200,000 by the time they are in their early 40s, according to research from the Social Market Foundation.

By the time state-schooled workers reached the age of 42, pupils from private schools will have earned £193,700 more on average, according to the think tank.

Even privately educated pupils with similar social backgrounds and exam results to their comprehensive and grammar school counterparts will have earned a “salary premium” of £57,653 more.

Overall, the survey shows that privately schooled individuals can earn up to 38 per cent more a year than their state school counterparts.

More:Read Richard Garner's full report or the Social Market Foundation's report