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Accountancy skills are more likely to be in demand during the current economic climate as opposed to skills in investment banking, according to the Higher Education Careers Service Unit (HECSU).

Charlie Ball, deputy director of HECSU said that aspiring investment bankers might find their career path less straightforward than it was three or four months ago.

"For accountants it might not be quite as gloomy as that," he added.

According to Mr Ball, graduates looking to get into accountancy will not have the same options available to them as in Easter, but they do still have opportunities available to them.

New research released by KPMG, a leading financial services firm in the UK, found that the number of permanent places offered to graduates during August declined to its lowest point since 2001.

However, research by the Association of Graduate Recruiters found that the graduate recruitment market was surviving the economic slowdown.

The number of graduate vacancies increased by 11.7 per cent, but competition for graduate jobs was hotting-up with an average of 30 applicants per vacancy, the association claimed.

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