Cut Throat Competition
Students graduating this summer are going to face even tougher competition for top jobs thanks to the Credit Crunch. Report by Helen Saunders.
Due to the economic downturn, finding that ideal job will be far harder for this year’s 270,000 graduates than for previous ones. Many graduate recruiters will be cutting back on large-scale ‘milk round’ schemes, meaning that graduate placements will be harder to find, and more competitive too. Similarly, initial starter packages will be reduced, although the average starting salary for 2008 is expected to be around £24,000. Although some industries, like banking and construction, have been particularly badly affected, others have not. In fact, capacity in public sector roles has increased and the stability of a career such as teaching has proved very attractive to many graduates. Other jobs that have high job stability include software testing and computer developing. Some sectors are even experiencing growth, such as pharmaceuticals and insurance firms. Even if your ideal job is not advertised, you should remain flexible over your career decisions. Mike Hill, chief executive of Higher Education Careers Service Unit (HESCU) admits that, ‘we have a record number of graduates successfully pursuing a wide variety of career options, not necessarily related to their degrees, with big gains across many subject areas’. By taking employment, even if it is second best, you will still gain transferable skills that will benefit an application to your perfect job. So, want to get ahead of the crowd? Browse through our job section to find the job of your dreams.