Graduate jobs and starting salaries increase as banking vacancies soar
UK employers are predicting growth of 17% in the number of graduate vacancies available in 2014 compared to last year, according to a membership survey carried out by the Association of Graduate Recruiters (AGR).
The AGR, which represents many large graduate recruiters, surveys its members twice a year to put together a snapshot of the state of graduate recruitment. The most recent edition of the survey, published today, reflects growing business confidence, particularly in the banking and financial services industries where graduate hiring is expected to increase by 54% in 2014.
Employers from 11 of the 13 career sectors covered by the survey expected to take on more graduates in 2014 than in 2013. The only areas where recruiters anticipated a decrease in hiring were consumer goods and the energy, water and utility sector.
Pay rise predicted for graduate jobs
The AGR survey predicts an increase in graduate starting pay to a median £27,000, £500 more than last year. Graduate investment bank or fund managers can expect to lead the starting salary league table with a median wage packet of £43,500. It’s important to bear in mind, however, that the salaries on offer from AGR members, which are typically large graduate recruiters, tend to be higher than the starting pay offered to fresh graduates on average across the board.
The report also revealed that 23% of employers still had unfilled vacancies at the end of the 2013 recruitment cycle. AGR chief executive Stephen Isherwood commented, ‘There are still unfilled graduate vacancies as employers are not always able to find the right people, with the right knowledge, skills and attitudes, for the job. Graduates must ensure they really do their research, target their applications and ensure their CVs do them justice if they want to be in with a good chance of securing a place on a graduate scheme following university.’