Monday 27 June 2022 00:01
With graduate pay rises and graduate jobs soaring, graduates are poised to enter the toughest job market the UK has seen in years.
New data from Adjuna shows that graduate salaries are up seven percent year-on-year, while graduate job openings are up 59 percent compared to May last year.
Graduate employers posted 14,690 job vacancies in May this year, compared with 9,265 in May 2021, as average graduate salaries hit a six-year high despite global economic crises, rising inflation and the UK’s lower cost of living. From £24,389 in 2021 to £26,076 today.
The figures are part of an ongoing battle between leading UK companies as employers face stiff competition to recruit and retain talent.
Adzuna manager Paul Lewis said: “Despite the negative headlines, many areas are desperate for talent and are looking for grades to fill those gaps. This is great news for the Class of 2022 who have hit the last two years.” have been battling distance learning and the pressures of the pandemic for years.
The battle for talent has seen the city’s leading companies offer new hires hefty pay to get grades on board, as part of an upward trend that has seen JPMorgan raise £70,000 a year. offers fresh graduate salaries of £50,000 and its rival Barclays offers £50,000.
Competition from the US has seen the city’s major law firms offer increasingly higher salaries, with trainees earning £60,000 a year at Davis Polk’s London office and £50,000 a year for graduates at Freshfield.
At the same time, those starting Aldi’s Gradle scheme are set to earn £44,000, while those working at Lidl will receive £37,000.
The research also found that graduates from London’s Bayes Business School – which changed its name in 2021 because of John Cass’ links to Cass’ slavery – earned on average more than graduates from any other university in the UK. Salary £52,167 five years after graduation.
Graduates from other top-ranking London universities, including Imperial (£47,618), UCL (£40,886) and Kings (37,324), also earned above-average salaries after five years.
“For those looking to make the big bucks, the Universities of London, Imperial College, UCL and King’s are all good career tips for top earners’ careers,” said Lewis.
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