Home > Job News > Graduates > Marketing recruitment freeze 'inevitable' < Job News and Info

Graduate recruitment schemes for marketing will come under threat as the economic downturn continues, it has been claimed.

According to Hugh Burkitt, chief executive of the Marketing Society, a moratorium on graduate recruitment in the sector was inevitable, reports Marketing Week.

Mr Burkitt told the industry news provider: "There are bound to be recruitment freezes and the big companies will suddenly stop their graduate programmes."

"It will be bad luck to be leaving university in the next two to three years," he added.

He claimed that companies will feel loyalty first and foremost to their existing staff.

Marketing Week claims that the financial sector will be worst affected and claims an insider close to Lloyds TSB said the financial institution will be looking to make cutbacks among its 900 marketing staff.

However, graduate resourcing manager for Lloyds TSB Ross Hovey told the Independent that the credit crunch had not had an impact on bank's graduate recruitment schemes.

He told the paper that new recruits start on a salary of £25,000 per year and London graduates receive an additional allowance for being based in the capital.

To find and apply for the latest graduate jobs in London see our dedicated London graduate jobs section.