By Graeme Paton, Education Editor
More than 45 students are expected to compete for each graduate job this year amid record demand for the most sought-after positions, according to research. At least half of Britain’s biggest employers are reporting a surge in the number of applications being submitted for skilled jobs, it was disclosed. The study warned that competition is now so fierce that many companies are refusing to consider graduates – even the very brightest – unless they have completed relevant work experience. An estimated third of this year’s vacancies will be filled by applicants who have already worked for the employer as an undergraduate.
The disclosure will fuel fears that degree results and A-level grades alone are no longer enough to satisfy prospective employers. Martin Birchall, managing director of High Fliers Research, which carried out the study, said: "The class of 2011 will be disappointed to hear that graduate recruitment has yet to return to the pre-recession levels seen in 2007, especially as there are an estimated 50,000 extra graduates leaving university in 2011 compared with four years ago.
"Today’s report includes the stark warning that in this highly competitive graduate job market, new graduates who’ve not had any work experience during their time at university have little or no chance of landing a well-paid job with a leading employer, irrespective of the university they’ve attended or the academic results they achieve."
Researchers surveyed 100 leading graduate employers, including the Civil Service, KPMG, Marks & Spencer, PricewaterhouseCoopers, Tesco and Vodafone.
It found that the number of graduate jobs will increase by 9.4 per cent in 2011 compared with 2010, when 15,563 students took up positions.
But the survey warned that recruitment levels were still far short of job numbers offered in 2007 – before the recession hit.
As record numbers of students prepare to graduate from university this year, most organisations reported a rise in applications for skilled jobs.
More than half of employers said demand was up in 2011, with a quarter saying they had received "many more" applications. Only one-in-six organisations said numbers were down this year.
The report said that companies received an average of 45 applications for every job last year "and this latest research suggests that the application rate for 2011 vacancies could be even higher".
One leading accounting firm said it had received more than twice as many applications this year compared with 2010.
Despite the recession, the average graduate salary will be set at £29,000 this year.
Average pay at investment banks will rocket by 10 per cent in 2011, with new employees being offered basic packages of up to £50,000.
Outside the City, the biggest salaries are being offered by the supermarket chain Aldi which pays trainee area managers a first year salary of £40,000.
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London 2011
London 2011
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