Increase in graduate employment biggest seen in four years
A new study of the 100 biggest employers has revealed that graduate employment for entry-level positions has reached a four year high.
According to bbc.co.uk, the study from High Fliers Research also found that the average starting salary for a graduate is £29,000 per annum, but that figure rises significantly in some industries. Investment banks pay an average of £45,000 to graduates and law firms spend £39,000 a year on their graduates.
Graduate recruitment is set to rise by about nine per cent, equal to around 1,400 new jobs. However, four in ten positions will be reserved to students with previous experience at the company, such as those who have been on an internship or placement.
Moreover, the study noted that over half of the recruiters who took part in the research said graduates with no experience at all are very unlikely to be successful when applying for a place in their graduate programmes, reports telegraph.co.uk.
David Willetts, the universities minister, said the study showed that working towards a degree is still beneficial to many.
“The substantial rise in the number of graduate vacancies demonstrates that confidence in the UK economy is growing and businesses really value the skills the UK’s first rate graduates can bring to their companies,” he commented. “A degree is still one of the best routes to a good job and a rewarding career.”