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The Graduate Market in 2011

A v a i l a b i l i t y & V a l u e o f W o r k E x p e r i e n c e T o g e t h e r t h e g r a d u a t e e m p l o y e r s 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 o v e r 1 0 , 0 0 0 w o r k e x p e r i e n c e p l a c e m e n t s f o r s t u d e n t s a n d r e c e n t g r a d u a t e s i n 2 0 1 0 - 2 0 1 1 ( s e e T a b l e 5 . 2 ) , a n i n c r e a s e o f m o r e t h a n 1 0 % c o m p a r e d w i t h 2 0 0 9 - 2 0 1 0 . T h e l a r g e s t n u m b e r o f p l a c e m e n t s a r e a t t h e i n v e s t m e n t b a n k s w h i c h t h i s y e a r h a v e m o r e t h a n 3 , 2 0 0 i n t e r n s h i p s a n d o t h e r e x p e r i e n c e s a v a i l a b l e . I t i s i n t e r e s t i n g t h a t i n v e s t m e n t b a n k i n g i s o n e o f j u s t t h r e e s e c t o r s w h e r e t h e n u m b e r o f p l a c e m e n t s o n o f f e r f r o m e m p l o y e r s o u t s t r i p s o r m a t c h e s t h e n u m b e r o f p e r m a n e n t j o b s a v a i l a b l e t o g r a d u a t e s . T h e l e a d i n g r e t a i l e r 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 h a v e a p a r t i c u l a r l y l o w r a t i o o f w o r k p l a c e m e n t s t o g r a d u a t e j o b s , m a k i n g i t h a r d f o r s t u d e n t s i n t e r e s t e d i n t h e s e a r e a s t o g e t e x p e r i e n c e b e f o r e t h e y a p p l y f o r g r a d u a t e r o l e s . R e c r u i t e r s w e r e q u e s t i o n e d a b o u t t h e v a l u e o f w o r k e x p e r i e n c e w h e n i t c o m e s t o a s s e s s i n g s t u d e n t s a p p l i c a t i o n s f o r g r a d u a t e r o l e s w i t h t h e i r o r g a n i s a t i o n s . T h r e e - f i f t h s o f e m p l o y e r s s t a t e d t h a t i t w a s e i t h e r n o t v e r y l i k e l y o r n o t a t a l l l i k e l y t h a t a g r a d u a t e w h o d h a d n o p r e v i o u s w o r k e x p e r i e n c e e i t h e r w i t h t h e i r o r g a n i s a t i o n o r a t a n o t h e r e m p l o y e r w o u l d b e s u c c e s s f u l d u r i n g t h e i r s e l e c t i o n p r o c e s s a n d b e m a d e a j o b o f f e r ( s e e C h a r t 5 . 3 ) . M a n y r e c r u i t e r s c o m m e n t e d t h a t i r r e s p e c t i v e o f t h e a c a d e m i c r e s u l t s t h a t a g r a d u a t e h a d a c h i e v e d , i t w o u l d b e v e r y h a r d f o r a n a p p l i c a n t t o d e m o n s t r a t e t h e s k i l l s a n d c o m p e t a n c i e s t h a t t h e y w e r e l o o k i n g f o r i f t h e y d n o t h a d a n y p r i o r w o r k e x p e r i e n c e . A c r o s s a l l t h e e m p l o y e r s f e a t u r e d i n t h e r e s e a r c h , a n e s t i m a t e d 3 2 % o f t h i s y e a r s g r a d u a t e v a c a n c i e s w i l l b e f i l l e d b y a p p l i c a n t s w h o h a v e a l r e a d y w o r k e d f o r t h e e m p l o y e r a s a n u n d e r g r a d u a t e a n d i n s o m e s e c t o r s t h e p r o p o r t i o n i n c r e a s e s t o 5 0 % o r m o r e ( s e e C h a r t 5 . 4 ) .

Total work

Total work

% change

Ratio of work

experience

experience

in places

experience places to

Industry or

places available

places available

between

graduate vacancies

Business Sector

in 2009-2010

in 2010-2011

2010 & 2011

in 2011

Accounting & professional services

1,107

1,278

15.4

31:100

Banking & finance

693

850

22.7

60:100

Consulting

110

180

63.6

30:100

Consumer goods

146

201

37.7

64:100

Engineering & industrial

525

549

4.6

53:100

Investment banking

2,864

3,220

12.4

121:100

IT & telecommunications

462

515

11.5

100:100

Law

775

825

6.5

102:100

Media

141

141

0.0

28:100

Oil & energy

391

389

-0.5

57:100

Public sector

331

333

0.6

18:100

Retailing

185

254

37.3

21:100

ALL SECTORS

9,640

10,665

10.6

61:100

Table 5.2 Analysis of Work Experience Places in 2010-11, by Industry or Business Sector

Source - The Graduate Market in 2011

30

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