Graduate recruitment falls 3.4%
A survey has revealed that graduates are finding it harder to get a job after leaving university but the average starting salary for graduate posts has increased past the £20,000 barrier.
The latest survey from the Association of Graduate Recruiters found that the number of graduate vacancies has fallen by 3.4% this year. However, the AGR stated that the situation was ‘nowhere near’ the crisis in recruitment experienced in the early part of the 90’s.
The survey revealed that average starting salaries for university leavers has increased by 4.1% to £20,300 in 2003 compared to the same time in 2002.
Competition for jobs has also increased; employers saw an average 42.1 applications for every graduate vacancy in 2003 compared to an average of 37.2 in the previous year.
The chief executive of the AGR, Carl Gilleard, warned students not to worry about the small falls in the number of vacancies because the number of graduate vacancies have increased significantly in previous years.
Mr Gilleard commented, ‘This survey shows that graduate level vacancies are stabilising somewhat – the modest falls in vacancies this year and last need to be balanced against the large rises we saw in previous years. It is important that those graduating this summer do not lose their nerve.’
The survey revealed that 42% of employers have reported a fall in the number of vacancies on offer, but 22% said they were recruiting the same number and over a third claimed that they have recruited more university leavers this year than last.
Construction, logistics and transport sectors have all increased their intake of graduates in the past year whilst investment banking and oil companies have reduced their intake.
Despite the increase in competition for a reduced number of positions the AGR survey highlights that a degree significantly improves a person’s earning potential. University leavers in 2002 earn on average £22,100 while graduates in 2000 earn on average £27,000.
The survey pointed out that the outlook for graduate employment in 2004 is stable. Of the employees surveyed, 42% predicted that the would maintain their levels of vacancies for university leavers in 2004, 17% said they would increase vacancies and 14% reported that they expected to reduce the number of graduate vacancies on offer in 2004.
