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Annual review of graduate vacancies & starting salaries at Britain’s leading employers - page 23 / 38

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The Graduate Market in 2011

Engineering & industrial

Up 2.0%

Banking & finance

Up 1.7%

B y c o m p a r i s o n , g r a d u a t e s t a r t i n g s a l a r i e s a t 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 , t h e m a j o r r e t a i l e r s a n d 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 h a v e r i s e n b y l i t t l e m o r e t h a n 5 % o v e r t h e l a s t f i v e y e a r s w e l l b e l o w t h e i n c r e a s e i n t h e c o s t - o f - l i v i n g d u r i n g t h i s p e r i o d . T h e i m p a c t o f t h e s e c h a n g e s i s t h a t o v e r t i m e t h e d i s t r i b u t i o n o f g r a d u a t e s t a r t i n g s a l a r i e s h a s b e c o m e a l i t t l e m o r e e v e n . S i x d i f f e r e n t s e c t o r s n o w p a y m e d i a n s a l a r i e s o f a t l e a s t £ 3 0 , 0 0 0 a n d w i t h p a c k a g e s o f b e t w e e n £ 3 2 , 0 0 0 a n d £ 4 0 , 0 0 0 a v a i l a b l e i n t h e o i l & e n e r g y i n d u s t r y , a t t w o l e a d i n g r e t a i l e r s a n d o n e w e l l - k n o w n m e d i a o r g a n i s a t i o n , i t i s c l e a r t h a t i n c r e a s i n g l y g e n e r o u s r e m u n e r a t i o n i s a v a i l a b l e b e y o n d t h e C i t y b a n k s a n d l e g a l f i r m s . D e s p i t e t h i s , t h e r e r e m a i n s a w i d e d i s p a r i t y b e t w e e n i n d i v i d u a l e m p l o y e r 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 t h e v e r y t o p s t a r t i n g s a l a r i e s o n o f f e r t o g r a d u a t e s i n 2 0 1 1 a r e s t i l l m o r e t h a n d o u b l e t h e l o w e s t p a y i n g p a c k a g e s .

Chart 3.5 Changes to Graduate Salaries since 2010, by Sector or Industry

Oil & energy

Up 2.6%

Chemical & pharmaceuticals

Up 0.7%

Accounting & professional services

No change

Armed Forces

No change

Consulting

No change

Consumer goods

No change

Investment banking

No change

IT & telecommunications

No change

Media

Up 1.6%

Down 7.9%

Law

No change

Retail

No change

Public sector

  • -

    10.0

  • -

    7.5

  • -

    5.0

  • -

    2.5 0 2.5

Percentage change from 2010 salaries

5.0

7.5

10.0

Source - The Graduate Market in 2011

23

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