Student debt and low salaries are deterring graduates from entering the teaching profession, according to the National Union of Teachers (NUT).
Barry Fawcett, head of teachers' pay at the organisation, noted that the potential for career advancement and higher salaries is lower in teaching than in other sectors.
He also suggested that the slowing UK economy will add to student's debt concerns and prompt them to look for better paid jobs.
"Pay is falling in relative terms," he said, adding: "The salary expectations in teaching are worse than other areas of employment which they could go to with their degree."
Applications to teacher training places declined by nine per cent in February compared to the same time last year, according to figures from the Education Data Survey.