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Annual review of graduate vacancies & starting salaries at Britain’s leading employers - page 21 / 38

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The Graduate Market in 2011

t h e A r m e d F o r c e s a r e a l s o s e t t o p a y s a l a r i e s a b o v e t h e n a t i o n a l m e d i a n o f £ 2 9 , 0 0 0 . T h e l o w e s t s a l a r i e s a r e f o r t h o s e s t a r t i n g w o r k w i t h r e t a i l e r s , e n g i n e e r i n g & i n d u s t r i a l c o m p a n i e s a n d p u b l i c s e c t o r e m p l o y e r s , w h i c h e a c h o f f e r a v e r a g e s t a r t i n g s a l a r i e s o f l e s s t h a n £ 2 5 , 0 0 0 . S t a r t i n g s a l a r i e s i n s o m e e m p l o y m e n t a r e a s m a y y e t i n c r e a s e b e f o r e g r a d u a t e s b e g i n w o r k i n a u t u m n 2 0 1 1 . F o r e x a m p l e , t h e B i g F o u r a c c o u n t a n c y & 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 o f t e n d o n t f i n a l i s e t h e i r s t a r t i n g s a l a r i e s u n t i l t h e s u m m e r m o n t h s , s o p a y f o r n e w g r a d u a t e s m a y b e r e v i s e d u p w a r d s t h e n . I t i s i n t e r e s t i n g t o n o t e t h a t w h i l s t n o n e o f t h e d a t a f o r g r a d u a t e r e m u n e r a t i o n i n 2 0 1 1 i n c l u d e s a d d i t i o n a l i n c e n t i v e s s u c h a s r e l o c a t i o n a l l o w a n c e s , a q u a r t e r o f o r g a n i s a t i o n s d i d s t a t e t h a t t h e y w i l l b e o f f e r i n g s o m e f o r m o f s t a r t i n g w o r k b o n u s t o g r a d u a t e s t h i s y e a r .

Chart 3.3 Graduate Salaries at UK Employers in 2011, by Sector or Industry

Consumer goods

£27,000

IT & telecommunications

£27,000

Chemical & pharmaceutical

£26,500

Investment banking

Law

Oil & energy

Media

Consulting

Banking & finance

Armed Forces

£42,000

Accounting & professional services

Engineering & industrial

£26,000

£24,500

Retail

Public sector

£24,000

£22,200

£32,000

£32,000

£31,000

£30,000

£29,500

£38,000

£15,000

£20,000

£25,000 £30,000 £35,000 Median starting salaries

£40,000

£45,000

Source - The Graduate Market in 2011

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