UK Graduate Vacancies Expected to Increase, Survey Shows

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24th July 2014 11:57 - Education

Graduate vacancies in the UK are forecast to increase by an average of 17% this year, with banking or financial services and transport or logistics companies anticipating the steepest growth.

The study, which was conducted by the Association of Graduate Recruiters (AGR), compared this year’s (2014) graduate recruitment levels to 2013’s findings, to gauge graduate vacancy trends.

Of the 13 sectors surveyed, just two – FMCG (-12.5%) and energy, water and utility (-8.5%) – sectors predicted a decrease in the number of graduate-level jobs they will offer.

Banking or financial services (54.1%), transport or logistics companies (29.4%), accountancy or professional service firms (24%) and IT/telecommunications sectors (23.9%) expect to see the greatest increase in graduate vacancies.

The remaining seven sectors covered in the survey expect to see increases too: public sector – 19.3%; engineering or industrial companies – 18.4%; consulting or business service firms – 14.8%; retail – 6.2%; investment bank or fund managers – 4.6%; construction companies or consultancies – 4.2% and law firms – 1.7%.

Graduates will be happy to hear the study discovered an increase in starting salaries too, with this year’s average (£27,000) rising £500 from 2013’s figure. Investment bank or fund manager graduates can expect the largest financial rewards, with median starting salaries estimated at £43,500.

However, around one quarter (23%) of the employers questioned said they still had unfilled vacancies at the end of the 2013 graduate recruitment period, with many predicting this trend will continue into this year’s employment window.

Stephen Isherwood, Chief Executive of the AGR, said: “The rise in vacancies and salaries shown in our summer report is fantastic news for graduates, and it is encouraging to see that employers are able to invest in graduate talent in this way.

“However this doesn’t mean the job market is easy. 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.”

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