Job prospects brighter for graduates

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EMPLOYERS ARE planning to recruit more graduates this year, although competition for jobs remains fierce, according to a new study.

Firms are set to take on almost a fifth more graduates in 2014, rising to over 40 per cent in financial services, said information company Incomes Data Services (IDS).

The trend is welcome news for the growing number of candidates chasing each job, with 60 graduates per vacancy last year, up from 49 in 2011, said the report.

Nasreen Rahman, of IDS, said: “Recruitment prospects for this year’s crop of graduates look brighter than they have for a long while as the number of job opportunities is set to rise sharply.

“Some sectors such as finance appear to be making up for lost time, aiming to recruit several times more graduates in 2014 than they did in 2013.”

Despite the recruitment upturn, IDS said its research showed it was not translating into higher graduate starting salaries.

Most employers froze their graduate starting salaries again last year, continuing a trend from the start of the recession, and two-thirds have not increased their rates for 2014.

The average salary this year is £26,505, compared to £26,068 in 2013.

Ms Rahman told The Yorkshire Post: “I think that employers find that the economy is picking up slightly and business is picking up slightly but they don’t feel they want to match that with salaries.”