Clanger - you're right (sort of) and I apologise as something had also been niggling me about the calculation too. However - it still isn't the value of the final year. What it is, is the difference between each and every year we're employed. If you use Thomas Cooks figures, in general each year you would be ~£1000-1500 better off. Over a 25 year career that's ~£31k (not the £109k). Integrated still doesn't work out financially, even in this hypothetical situation of employment, though weighted with the fact that integrated probably does give you a head start, I'll accept that there is a little more balance than I demonstrated. However, I'd temper that with the view that predicting employment any further on than about 4yrs is lacking any substance - once in then it's every man for himself and you're at the mercy of the economy.