A study has found that those students who were among the first to pay higher tuition fees will graduate into the most attractive job market for a decade.
A study by the company,High Fliers into the graduate job market in 2015 expect that recruitment will be at its highest for ten years. The study encourages that the key to securing a role in a firm is to take work placements there, and suggests that a third of jobs will be offered to graduates who have been able to do this.
Paid work-experience programmes for students and recent graduates are now being offered by more than four-fifths of the UK’s leading graduate recruiters, with 13,049 available this year. Two-thirds reserve paid internships during the holidays for final-year students, and half make placements available as part of degree courses; first-year undergraduates are now beginning to be offered placements at a number of firms.
Recruiters have said that graduates with no work experience have “little or no chance” of receiving a job offer through graduate programmes.
It is predicted that 8% more vacancies will be available this year, due to the UK’s leading employers planning to expand graduate recruitment further in 2015. Promisingly, this is the third consecutive annual increase.
Martin Birchall, managing director of High Fliers Research, said graduates will go into a strong job market.
Universities minister Greg Clark said: “This report will be warmly welcomed by the record number of students who started university this year and highlights how a degree remains one of the best routes into a rewarding career.”
Analysis – Amy Rust digs deeper into the figures
The increase in graduate employment is great news for students who are often worried by their future projects and paying off the debt they have accumulated whilst at university.
More of the UK’s top employers offering paid internships and expanding their graduate schemes resulting in positive prospects for graduating students. This provides evidence for the claim that university is the best route for entering the job market.
However, Concrete has recently reported that up to one in seven graduates still face unemployment after graduation. Moreover the findings are grim reading for students with little or no work experience, as graduate employers stating they are unlikely to receive a place on their graduate schemes.
It is also important to look at which job sectors are expanding. Whereas traditional sectors such as finance and civil service are growing, jobs in the creative industries have remained stagnant.
This news can be considered a light at the end of the tunnel for those students who already have a couple of lines on their CV. However as more employers are seeking students solely from their internship programmes, it further isolates students who are still struggling to get on to the employment ladder.