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Graduate employment

This section provides information on a range of graduate employment issues including:

Benefits of gaining a degree

Although gaining a good degree is not the only item on a the interviewers checklist when seeking to recruit for professional level jobs, being in possession of a degree level qualification does still seem to have significant benefits for the employee in the medium and long term.

This is especially good news to those who hesitate over applying to higher education because of the introduction of variable tuition fees from 2006, the need to take out loans for subsistence, and the competition from other graduates as a result of the recent large expansion in higher education.

Apart from evidence that most graduates are in satisfying graduate jobs seven years after graduation and that certain careers involve graduate only entry, there are also several financial benefits. Click here to view.

Gaining a degree – the financial benefits

  • Across all ages (21 to 60 years) graduates earn an average of around 50% more than their A Level (or equivalent) counterparts.
  • Between the ages of 21 to 40 the average wage rise of graduates is greater than A Level entrants. This indicates faster career progression by graduates over this period.
  • This difference does not necessarily exist when comparing career progression and salary level between graduates of a prestigious university against graduates from other establishments. Graduates from prestigious universities may have an initial advantage but, once employed, performance in the job dictates both promotion and pay levels.
  • Graduate average starting salaries (in a survey of 223 larger companies) have reached £21,000 a year (£25,000 in London ) for the first time (a rise of 3.4% over 2003). Those in management and IT tend, on average, to better these figures. The public sector average starting salary was a little lower, averaging £19,700.
  • Graduate vacancies increased by 15.5% - the first time in three years - as a result of growth in business confidence (according to another survey of 600 employers).

Sources:

  • Higher Education Careers Service unit
  • Association of Graduate Recruiters
  • Labour Force Survey (LFS)
  • Graduate Market Trends (GMT)
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    Graduates with “any” degree

    Although for certain careers it is necessary to hold a degree in a specific subject (eg. a medical degree for medicine) possessing a degree level qualification is still a benefit almost regardless of subject taken.

    The number of vacancies specifying no particular degree subject (normally thought to be about 40 – 50%) appeared to be even higher (64.6%) when counting vacancies appearing in Prospects Today (national graduate vacancy bulletin) for the year ending April 2003.

    This means that, for those who are undecided on a particular career at the start of their degree study - or for those who wish to study a particular subject regardless of later career implication - the career possibilities are still wide either by direct entry into employment or by undertaking relevant post graduate study.

    In certain mainland European countries this freedom of degree subject choice for entry to a first job may well be less wide because of a greater expectation by employers there for applicants to present a more relevant subject for the work involved.

    Why do so many UK graduate employers not specify a particular degree subject?

    Employers do not see the graduate entrant as a “finished” product. They are also looking for the applicant to come with those skills which are developed by students as part of the degree study process such as analytical and problem solving skills – regardless of the subject within which these were developed.

    Applicants with “any” degree can separate themselves out from their competitors in a similar situation by ensuring they can show evidence that they have the other skills and characteristics (link to text below) which employers commonly seek.

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    Skills and characteristics sought by most employers

    Most employers, regardless of the business area in which they operate, look for certain skills and characteristics in their graduate applicants.

    Such skills and characteristics may have been developed within or around the student’s studies or separately. Evidence of possession of these on an applicants CV (link to page with information on CV writing tips) will be beneficial and will help graduates to progress once employed:

    • Communication (written, verbal and through IT)
    • Numeracy
    • Analytical skills
    • Problem solving
    • Decision making
    • Relationship building with people of all backgrounds and levels
    • General IT ability
    • Work experience.

    Possession of these and evidence of where they were gained, will be enormously helpful in addition to the degree level qualification.

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    Graduate level careers which can frequently be entered from “any” degree

    Although factors such as “employability skills” (see section “ Skills and characteristics sought by employers” link to this page) will play a large part in gaining entry, the following careers can be entered either directly or following a relevant post graduate course from “any” degree:

    • Business and finance
    • Marketing, advertising and media
    • Government (civil service or local government)
    • Retail and sales
    • Service industries such as tourism
    • Computing and IT (software and use of computers)
    • Management and administration
    • Social services
    • Teaching (after further professional study)
    • Law (following further study in law)

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