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The Graduate Market in 2011

G r a d u a t e S a l a r i e s i n 2 0 1 1 A l t h o u g h t h e U K s l e a d i n g e m p l o y e r s a r e a g a i n o f f e r i n g a m e d i a n s t a r t i n g s a l a r y o f £ 2 9 , 0 0 0 f o r g r a d u a t e s s t a r t i n g w o r k i n 2 0 1 1 , t h e r e s e a r c h s h o w s t h a t t h e s a l a r i e s o n o f f e r d o v a r y c o n s i d e r a b l y f r o m o r g a n i s a t i o n t o o r g a n i s a t i o n . O n l y t w o m a j o r e m p l o y e r s a r e p a y i n g £ 2 0 , 0 0 0 o r l e s s t o t h e i r n e w g r a d u a t e r e c r u i t s t h i s y e a r . T h e m a j o r i t y o f o r g a n i s a t i o n s s o m e t h r e e - f i f t h s o f t h o s e f e a t u r e d i n t h e r e s e a r c h a r e o f f e r i n g g r a d u a t e s b e t w e e n £ 2 0 , 0 0 0 a n d £ 3 0 , 0 0 0 w h e n t h e y s t a r t w o r k ( s e e C h a r t 3 . 2 ) . A t t h e t o p o f t h e m a r k e t , a q u a r t e r o f g r a d u a t e p r o g r a m m e s n o w p a y m o r e t h a n £ 3 0 , 0 0 0 a n d o n e i n s i x e m p l o y e r s c h i e f l y f r o m t h e l e g a l a n d i n v e s t m e n t b a n k i n g s e c t o r s a r e i n t e n d i n g t o p a y s a l a r i e s i n e x c e s s o f £ 3 5 , 0 0 0 t h i s y e a r . S e v e n o r g a n i s a t i o n s i n t e n d t o p a y u p w a r d s o f £ 4 0 , 0 0 0 , i n c l u d i n g t w o o f t h e t o p i n v e s t m e n t b a n k s t h a t a r e o f f e r i n g p a c k a g e s w o r t h a t l e a s t £ 5 0 , 0 0 0 o r m o r e t o n e w j o i n e r s . O u t s i d e o f t h e C i t y , t h e h i g h e s t s a l a r y i s a g a i n a t A l d i , w h i c h p a y s g r a d u a t e s t r a i n i n g t o b e c o m e a r e a m a n a g e r s a f i r s t - y e a r s a l a r y o f £ 4 0 , 0 0 0 . B y s e c t o r , t h e h i g h e s t - p a y i n g U K e m p l o y e r s i n 2 0 1 0 a r e t h e i n v e s t m e n t b a n k s a n d l a w f i r m s ( s e e C h a r t 3 . 3 ) . W h i l s t i t s h o u l d b e n o t e d t h a t s e v e r a l o f t h e i n v e s t m e n t b a n k s f e a t u r e d w i t h i n t h e r e s e a r c h d e c l i n e d t o r e v e a l t h e i r g r a d u a t e s t a r t i n g s a l a r i e s , m o s t a r e b e l i e v e d t o b e o f f e r i n g b a s i c p a y o f b e t w e e n £ 3 5 , 0 0 0 a n d £ 4 5 , 0 0 0 t o g r a d u a t e s t h i s y e a r . T h e r e s u r g e n c e o f r e c r u i t m e n t w i t h i n t h e b a n k i n g s e c t o r d u r i n g 2 0 1 0 , c o m b i n e d w i t h a r e o r g a n i s a t i o n o f h o w r e m u n e r a t i o n p a c k a g e s a r e s t r u c t u r e d a t a n u m b e r o f b a n k s h a s m e a n t t h a t a v e r a g e s a l a r i e s a t i n v e s t m e n t b a n k s h a v e j u m p e d a r o u n d 1 0 % o v e r t h e l a s t t w e l v e m o n t h s . T h e m e d i a n s a l a r y f o r g r a d u a t e s j o i n i n g t h e l e g a l s e c t o r r e m a i n s £ 3 8 , 0 0 0 . T h r e e o t h e r s e c t o r s o i l & e n e r g y , t h e m e d i a a n d c o n s u l t i n g a r e e a c h o f f e r i n g s a l a r i e s i n e x c e s s o f £ 3 0 , 0 0 0 , a l t h o u g h i t s h o u l d b e n o t e d t h e m a j o r i t y o f g r a d u a t e r o l e s a t t h e m e d i a o r g a n i s a t i o n s i n c l u d e d i n t h e r e s e a r c h a r e c o m m e r c i a l p o s t s r a t h e r t h a n e d i t o r i a l p o s i t i o n s , w h i c h t r a d i t i o n a l l y a t t r a c t m u c h l o w e r s t a r t i n g s a l a r i e s . B a n k i n g & f i n a n c e e m p l o y e r s a n d

Chart 3.2 Graduate Starting Salaries at leading UK Employers in 2011

More than £40,000

7%

£35,001-£40,000

11%

£30,001-£35,000

7%

£25,001-£30,000

28%

£20,001-£25,000

32%

£20,000 or less

2%

Unknown

13%

0

10

20 30 Percentage of top graduate employers

40

50

Source - The Graduate Market in 2011

20

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