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Number Of Graduate Vacancies Up 10 Per Cent On Last Year

10 Sep 2019

Number Of Graduate Vacancies Up 10 Per Cent On Last Year

New figures from the Institute of Student Employers’ (ISE) reveal that the number of graduate vacancies on offer this year is up by 10 per cent on last year.

Over the last year, 22,000 graduate jobs have been created, compared with just 20,000 over the previous twelve months.

It is only the third time that the number of graduate jobs has risen by ten per cent or more in the last decade, with the same thing happening in consecutive years throughout 2013 and 2014.

The public sector would appear to be driving much of the growth within the graduate jobs market, with 35 per cent more vacancies on offer compared to the 2017/18 recruitment season.

From the private sector, finance and professional services both posted strong growth in new graduate recruitment according to the ISE data.

The ISE’s annual student recruitment survey also showed that graduate starting salaries are also up, with pay rising £750 to reach an average of £29,000 this year.

Law graduates could look forward to the highest pay, with an average starting salary of £40,000. Finance and IT graduates could also look forward to a rosy future, with an average of around £30,000 on offer for those sectors.

Wage growth in the IT sector seems to be driven by stiff competition for roles, with 2 in 5 recruiters saying they were struggling to find suitable recruits for their vacancies.

The chief executive of the ISE, Stephen Isherwood, commented on the latest figures, saying: “Hiring is up, employers are receiving a healthy volume of applications, and they are paying more. We hope that this continues as they manage the uncertainty that lies ahead.”

And it isn’t just university leavers whose job prospects seem to be on the up, with the survey also finding that recruiters are also providing more opportunities for school leavers. The ISE found that the number of school-leaver programmes on offer amongst the recruiters surveyed was up by 7 per cent to more than 6,000 placements this year.

Commenting on the ISE results, the head of recruitment and graduate development at Pinsent Masons, Deborah McCormack, said: “I am pleasantly surprised that organisations continue to invest in their early talent pipelines, and to think about the future succession plan. This is notwithstanding the uncertainty Brexit contributes to the financial and hiring landscape for businesses though.”

“The early talent pool is being diversified via the blend of school-leaver programmes, ‘conventional’ graduates and career changers. Diversity of background and thought are high on board agendas.”

“One of the areas affecting legal grad numbers is likely to be the blend of routes into the legal profession. This includes an increase in new legal apprenticeship pathways, which some employers and candidates are embracing, as well as interim and project opportunities that can be filled by freelance lawyers,” added Ms McCormack.

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