Tougher Times For Graduates

A report from the Association of Graduate Recruiters (AGR) has highlighted that graduates face an increasingly competitive jobs market as employers ramp up pre-employment psychometric testing.

While vacancies have risen by 12.5%, starting pay has not kept pace and is a below inflation 2.4% up, reaching an average earning figure of £23,500.

However, according to the AGR, recruiters are confident that they can fill posts without offering inflation beating pay rises.

Around two-thirds of recruiters are seeking a minimum qualification of a 2.1 degree, and almost two-thirds of recruiters reported that the standard of applicants this year was higher or the same as last year.

Despite the rising number of vacancies, employers remain confident that they can fill positions this year.

However, the report noted that salaries paid to graduates vary widely. Banking and financial services posts pay top wages with starting salaries averaging around £37,000, though law firms are now paying more with starting salaries of £35,700.

In London, where two-fifths or graduates are recruited, average starting salaries were noted to have fallen by around 5%, but in other regions, Scotland, Wales and some areas of England, starting salaries had increased by up to 5.6%.

More employers are now utilising additional tests to select candidates. The AGR report noted that four out of five were testing numeric abilities, almost three-quarters were examining verbal reasoning, and one third were testing personality traits.

(SP/JM)