GRADUATE SALARIES
Employer demand for graduates forecast to increase - IRS
The 22nd annual survey of graduate recruitment by XpertHR strikes a small note of optimism for the 2011/12 hiring round, despite the fact that employers are still finding it hard to attract high-quality recruits.
Based on a sample of 182 employers, the research shows that “employers are positive about their future graduate recruitment intentions”. Three-quarters of organisations are currently trying to recruit graduates. An even higher proportion – almost nine in ten - forecast that they will do so in the future.
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Graduate starting salaries
Starting salary increases for graduates in the manufacturing and production part of the economy are more buoyant than in the other two broad sectors.
The 1% median increase for manufacturing and production in 2011/12 compares with a 0% increase in both private sector services and the public sector.
Starting salaries for graduate recruits will be based on a median (mid-point figure) of £24,500 in 2011/12. The average amount will be marginally higher at £24,583.
These starting salary levels are higher than those recorded in the 2010 survey, which showed a median starting salary of £22,550 and an average starting salary of £23,174.
Starting salaries are pitched at a lower rate in the public sector, a median of £20,000, compared with £24,000 in manufacturing and production and £25,000 in private sector services.
XpertHR says: “This is not surprising given the challenging financial climate that the public sector is currently experiencing. Starting salaries for graduates have traditionally been lower in the public sector, but the gap with the other two broad sectors has definitely widened since the onset of recession and a tightening of the public sector purse strings.”
Want to know more?
Title: “Graduate recruitment survey 2011”, IRS Employment Review, 1 February 2012.
Availability: The report is available on a subscription basis. To subscribe to XpertHR visit www.xperthr.co.uk/article/111688/xperthr-graduate-recruitment-survey-2011--starting-salaries.aspx?mid=43.
XpertHR is the “UK's most comprehensive online source of legal compliance, good practice and benchmarking information made available to HR professionals as a single subscription service”. For more information visit www.xperthr.co.uk.