Daily NewsView All News
New research carried out by the Association of Graduate Recruiters (AGR), shows that graduates without a top level degree from one of the country's select band of universities (Russell Group) do not stand much of a chance of getting a job this Summer.
The research shows that employers have received 686,660 applications from graduates with more than 40,000 who failed to get a job last year. The report estimates that there will be 69 candidates for each job offer, up from 31 candidates for each job offer two years ago.
78% of employers interviewed will not consider candidates below a 2:1 degree level, up from 66% last year.
In addition, job vacancies have fallen by -6.9% compared to last year when the number of job vacancies fell by -8.9%.
The average graduate starting salary has been frozen for the second year in succession at 25,000 Pounds.
The sectors facing the biggest job in vacancies include supermarket and consumer electronic goods (down -45.4%) as well as IT and retail (both down -31.4%). Sectors with rising vacancies include banking and financial services (up +72%) and insurance (up +53.3%).
Carl Gilleard, CEO of the AGR, said "recruiters are under intense pressure this year dealing with a huge number of applications from graduates for a diminishing pool of jobs. We are encouraging our members to look beyond the degree classification when narrowing down the field of candidates to manageable proportions."