I wanted to do fashion, but I was aware of the small amount of jobs compared to the amount of graduates. So I did a degree at Leicester Poly (now De Montfort Uni) - they offer a fashion degree with specialisation in one of four areas, two of these are really specialist - the footwear degree is one of only two in the world, the contour fashion degree (lingerie, underwear and corsetry design) is the only one of it's kind. The first eight weeks of the degree you spent two weeks on each area, then you chose. This appealed too - I didn't have to make my mind up 'til I'd had a go at all of them. I chose footwear. The degree was great - it was a proper shoe makers apprenticeship (with a dissertation), we learned proper shoemaking skills, pattern cutting, the whole lot. They used to pin jobs up on the back of the door of the studio. When I graduated there were 12 of us and 14 jobs pinned up on the back of the door.
I don't think it's so easy now, from the amount of emails I get from graduates, saying they can't find work.
As for money - yes you can earn pots of it if you make it and I did for a while. A senior designer gets £40k-£60k, now. But I've now chosen the route of freelance so I can have a life, meaning I'm a bit skint sometimes. I'm using my degree though, I' so pleased I did it.