Top of the jobs: the top five sectors for graduate jobs
This is a handy guide to the five sectors that recruit the largest number of university leavers onto their graduate schemes, based on information from the Association of Graduate Recruiters (AGR) biannual report.
1. Accountancy currently makes up 26.6 per cent of all graduate jobs within the AGR. Many accountancy roles do not have a specific degree requirement, and not all even require an A level in a numerical subject. The average starting salary is an attractive number in itself, coming in at around £23,000 for the average role. As if this wasn’t enough, the AGR anticipates a further increase of 38.5 per cent on salaries within the financial management area of work – so it might be worth booking that holiday in the Caribbean now! There are a variety of areas of work within the sector but all require a set of core accounting skills that are usually garnered through one of the professional qualifications such as the ACA or CIMA. Most employers will put you through one of the relevant courses and you can usually qualify within three years or so. See targetjobs.co.uk/accounting for more information and links to employers and vacancies.
2. Investment banking and fund management positions are in at number two with 21 per cent of graduate vacancies among AGR members. In these areas of work, which again have no specific degree requirements, you’ll get to see life in the fast lane. The average graduate starting salary is a massive £36,000 – often with perks and bonuses on top. Working in investment banking, you’ll be required to have good analytical and quantitative skills. The environment is fast paced and ever changing. As such, creativity and an entrepreneurial streak are an advantage and fresh ideas are always valued. The work can be stressful and the hours long and unpredictable but the remuneration makes up for this in most cases, with the sector having the highest average starting salary of any graduate job sector within the AGR survey. Check out targetjobs.co.uk/bankingandinvestment for more in-depth advice.
3. Engineering and industrial companies have the next highest level of graduate positions with 8.6 per cent of AGR posts. This is expected to rise further in coming years with 80 per cent of companies expecting a shortfall in the coming year. A looming skills shortage means many areas of engineering anticipate an increase in graduate vacancies over the next few years, with civil engineering expecting the biggest rise of 29.7 per cent in the next twelve months. The positions available in the sector tend to have more specific entry requirements than the financial sector. Most require either a BEng, MEng or engineering science degree. Engineering jobs are diverse and with technology and processes undergoing constant improvement, engineering can be seen as one of the most exciting graduate prospects. Roles are often challenging, requiring creative thinking to find solutions and as projects can be very different from one another, the work is often fresh and interesting. There are also many opportunities for professional development and career progression. The money may not be on par with investment banking but graduates working for AGR member companies can expect to start on a very reasonable £22,500, often in addition to perks such as healthcare and on-site facilities. targetjobs.co.uk/engineering and targetjobs.co.uk/civilengineering have more details and career intelligence on how, when and where to apply.
4. Legal positions come in at number four in the AGR top five, making up 7.6 per cent of graduate vacancies. This is down on previous years and the ever increasing competition for training contracts may well reflect this. With the wide range of practice areas, law can offer an ever changing and, at times, exciting profession. Though of course you’re all seeking nothing more than job satisfaction, it may be of interest that starting salaries come in at around £31,000 for AGR employers, often alongside benefits such as bonuses, private healthcare and gym memberships. More details can be found at targetjobs.co.uk/law
5. Consultancy and business services are in fifth position, with 6.1 per cent of AGR graduate vacancies in this area of work. Consulting is open to graduates of any degree background, recruiters being more interested in the skill set you can bring to the company rather than what subject you studied. As such, it can be handy to have some good and varied work experience behind you. As consultants can be employed by any company, in any area of business, there is the possibility of working on a wide range of projects, from evaluating the business model of a restaurant chain to conducting feasibility studies for a bucket manufacturer. Consultancy could be a good career choice if you like telling people what to do but there are thousands of other reasons to join a consultancy firm – something like twenty eight and a half thousand reasons! At £28,500 the starting salary for consultancy is among the highest for graduates and various companies offer some great perks in addition. Golden hellos, gym memberships and company cars are often part of the package offered to employees, while life assurance and private healthcare are almost standard issue in the industry, making consulting worth considering whatever your degree background. targetjobs.co.uk/consulting has graduate profiles and more to help you in your job search.
A rough guide to the graduate market
The biannual report by the Association of Graduate Recruiters (AGR) provides average salary details, data on vacancy numbers and predicts trends over the coming year. The AGR take recruitment information from its members who comprise 235 large employers (nearly 60 per cent of which are based in the south-east or London). As such, these figures should not be taken as gospel, but rather a rough guide to the graduate market, giving an indication of which sectors are likely to experience an upsurge in vacancies and where the big money is. The salary guides should be viewed with particular caution as these are based on the median starting salary of AGR members and as such cannot be said to be wholly representative. With any job you should check your salary and working hours before you sign a contract.
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