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The Graduate Market in 2011

E x p e c t e d G r a d u a t e V a c a n c i e s i n 2 0 1 1 I t i s e n c o u r a g i n g t o s e e t h a t f o l l o w i n g t h e i n c r e a s e d n u m b e r o f o p p o r t u n i t i e s f o r u n i v e r s i t y - l e a v e r s i n 2 0 1 0 , m o r e t h a n h a l f t h e e m p l o y e r s f r o m T h e T i m e s T o p 1 0 0 G r a d u a t e E m p l o y e r s a r e e x p e c t i n g t o e x p a n d t h e i r g r a d u a t e r e c r u i t m e n t p r o g r a m m e s i n 2 0 1 1 ( s e e C h a r t 2 . 6 ) . T e n o r g a n i s a t i o n s a r e c o n f i d e n t t h a t t h e y l l b e h i r i n g a t l e a s t f i f t y a d d i t i o n a l g r a d u a t e s t h i s y e a r , a q u a r t e r o f e m p l o y e r s p l a n t o r e c r u i t s i m i l a r n u m b e r s o f g r a d u a t e s t o t h e i r 2 0 1 0 i n t a k e , b u t o n e i n s i x w a r n t h a t t h e y w i l l b e r e d u c i n g t h e i r e n t r y - l e v e l v a c a n c i e s . T h i s p o s i t i v e o u t l o o k m e a n s t h a t v a c a n c i e s f o r g r a d u a t e s a r e s e t t o i n c r e a s e i n t h i r t e e n o u t o f t h e f o u r t e e n m a i n e m p l o y m e n t a r e a s ( s e e T a b l e 2 . 7 ) . T h e b i g g e s t g r o w t h r e c o r d e d s o f a r i s a t t h e a c c o u n t i n g & p r o f e s s i o n a l s e r v i c e s f i r m s w h i c h , h a v i n g e x p a n d e d t h e i r r e c r u i t m e n t b y 7 0 0 e x t r a g r a d u a t e p o s i t i o n s i n 2 0 1 0 , a r e n o w p l a n n i n g t o h i r e m o r e t h a n 3 5 0 a d d i t i o n a l g r a d u a t e s d u r i n g t h e 2 0 1 1 r e c r u i t m e n t s e a s o n . T h e i n v e s t m e n t b a n k s a n d o t h e r b a n k i n g & f i n a n c e i n s t i t u t i o n s a r e s e t t o i n c r e a s e t h e i r r e c r u i t m e n t t o o , b y a t l e a s t 5 0 0 n e w r o l e s t h i s y e a r a n d t h e r e a r e a s i g n i f i c a n t n u m b e r o f e x t r a v a c a n c i e s p l a n n e d a t c o n s u l t i n g f i r m s a n d I T & t e l e c o m s c o m p a n i e s . T h e p r o s p e c t s f o r g r a d u a t e s i n t h e p u b l i c s e c t o r , h o w e v e r , a r e n o t q u i t e s o o p t i m i s t i c . T h e r a p i d e x p a n s i o n o f t h e T e a c h F i r s t s c h e m e w h i c h t h i s y e a r i s s e t t o r e c r u i t a n e x t r a 2 3 0 g r a d u a t e s , o n t o p o f i t s r e c o r d r e c r u i t m e n t i n 2 0 1 0 h e l p s d i s g u i s e t h e f a c t t h a t s e v e r a l o f t h e l a r g e s t e m p l o y e r s i n t h e p u b l i c s e c t o r h a v e a l r e a d y r e d u c e d t h e i r g r a d u a t e v a c a n c i e s f o r 2 0 1 1 a n d t h a t m o r e c u t s a r e l i k e l y b e f o r e t h e e n d o f t h e r e c r u i t m e n t s e a s o n . A l t h o u g h i t i s c l e a r f r o m t h i s d a t a t h a t t h e g r a d u a t e j o b m a r k e t i s m a k i n g a g o o d r e c o v e r y , e m p l o y e r s h a v e c o n f i r m e d t h a t a t h i r d o f t h e v a c a n c i e s t h a t t h e y a r e p r o m o t i n g f o r 2 0 1 1 a r e e x p e c t e d t o b e f i l l e d b y u n d e r g r a d u a t e s w h o h a v e h a d p r e v i o u s w o r k e x p e r i e n c e w i t h t h e i r o r g a n i s a t i o n s , s u c h a s i n t e r n s h i p s , i n d u s t r i a l p l a c e m e n t s , v a c a t i o n s c h e m e s o r s p o n s o r s h i p s ( s e e C h a r t 2 . 5 ) . T h i s m e a n s t h a t a n e s t i m a t e d 5 , 6 0 0 p o s i t i o n s f r o m t h i s y e a r s e n t r y - l e v e l v a c a n c i e s w i l l n o t b e a v a i l a b l e t o o t h e r f i n a l y e a r s t u d e n t s f r o m t h e C l a s s o f 2 0 1 1 c u r r e n t l y a p p l y i n g f o r g r a d u a t e j o b s .

Chart 2.5 Graduate Vacancies at the UK’s Top Employers in 2011

Vacancies for 2011 expected to be filled by graduates who had already worked for the employer

32%

68%

Vacancies for 2011 available to final year undergraduates and recent graduates

Source - The Graduate Market in 2011

12

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