I received a magazine this week from ‘High Fliers Research.’ It’s basically an annual review of graduate vacancies at Britain’s leading employers.
It’s seriously interesting reading! I thought it might be useful to share some of the key findings.
The report is based on a study of graduate recruitment at the organisations named as The Times Top 100 Graduate Employers 2010. The research was conducted in December 2010 and examines the recruitment period for 2010-2011.
• Leading employers are planning to increase their graduate recruitment by 9.4% in 2011.
• Three fifths of employers expect to recruit more graduates in 2011.
• The largest recruiters of graduates in 2011 will be PwC (1200 vacancies) Deloitte (1000 vacancies) KPMG (900 vacancies) Teach First (780 vacancies) and Ernst & Young (740 vacancies)
• However a third of entry level vacancies ACROSS the board are expected to be filled by graduates that have already worked for that organisation.
• The top 3 places to find graduate vacancies for 2011 are (in order) London, the North West and the Midlands.
• The worst hit sector of the recession remains the chemical & pharmaceutical industries. They are now down to nearly half the graduate vacancies they had pre 2007.
• The average starting salary for a graduate position remains unchanged from 2010, at £29,000.
• The most generous starting salaries are with investment banks (average £42,000) law firms (average £38,000) and energy companies (average £32,000.)
• Outside of the city, the highest starting salary is Aldi, which pays graduate trainee area managers £40,000.
• Only 2 ‘major’ employers are paying less than £20,000.
• 52% of graduate employers have a similar recruitment budget to that of 2010. 32% have a budget that has ‘increased a little’ or ‘increased significantly.’
• The top 5 universities targeted by the largest number of leading employers for the 2010-11 period are, (in order), Cambridge, Warwick, Manchester, London (refers to Imperial, LSE and the University of London) and Oxford. This is the same top 5 as the year before, just in a different order. (Previously Manchester, London, Warwick, Cambridge then Oxford.)
• Half of employers said they had received more completed graduate job applications during the early part of this recruitment season than in the previous year. 17% said they had received slightly fewer or ‘many fewer’ application, but there isn’t an industry pattern here.
• More than three fifths of employers are offering industrial placements or vacation work during academic year of 2010-2011.
• Just 6 employers are not offering any work experience at all.
• Together there are over 10,000 work experience placements available to recent graduates or students; 10% more than 2010.
• Three fifths of employers said it was:
“not very likely’ or ‘not likely at all’ that a graduate who had ‘no work experience at all – either with their organisation or at another employer – would be successful during their selection process.”
• Across all employers, around 32% of this year’s graduate vacancies will be filled by applicants that have already worked for the employer.
• The sectors where this number increases are: Investment Banking (52% of vacancies are filled by people with experience there), law (50%) and oil and energy companies (39%).
“Despite some encouraging figures, graduate recruitment remains below pre-recession levels. Across all sectors, recruitment in 2011 is still 6% below 2007 figures.”
And there it is. I didn’t mean to end of a downer and over all I think the figures are really encouraging! I intend to make some proper comment on these figures at some point, but I’m sure some of you will get in before me!
Oh and sorry for the crappy graphs, I didn’t have much time!