Employers looking for graduate talent are facing extraordinary competition. Yet, at the same time, grads fear reduced job prospects…
As competition increases:
Candidates are now making an average of 29 graduate scheme applications at once. This has created an application boom. The ‘finance and professional services’ industries have gone from receiving 50,000 applications to more than 250,000.
Not only is this keeping the employers rather busy (and forcing them to compete against each other), it’s also spiking competition levels among the applicants.
While 3/4 of candidates have expressed an interest in graduate programmes, only 1% of applicants were recruited last year.
There are some positive findings though, including those relating to the reduced gender gap and increased ‘race equality’.
Why candidates are worried:
78% of graduates surveyed by Milkround fear that Brexit will ‘negatively affect their career’.
More than 1/2 foresee a struggle to find a graduate job – believing the economy could reflect the patterns observed during the 2008 financial crisis. During this period graduates spent an average of 8 months trying to secure their first role. Many applicants also changed their career plans or entered different sectors due to job scarcity.
Despite these concerns, there are some promising stats. The Office for National Statistics reports continued record employment, while Milkround has observed a 104% increase in graduate openings ‘year on year’.
Soon to graduate or already done so?
Don’t forget that there are multiple routes into your first career role. Alongside the traditional big-firm schemes, there are many SME employers looking to recruit and develop graduates.
The Bath area has a wealth of high calibre employers looking to do just this, especially among the finance, financial services and professional services sectors. You’ll often find great examples on our jobs feed. As well as looking at the general listings, you can search by ‘graduate’ to see some of the latest opportunities.
Remember to also keep in touch with your Recruitment Consultant so that you are aware of the latest vacancies that match your career skills and goals.