Work Experience Vital for Job Market Success
A comprehensive assessment of the graduate job market released yesterday urges that graduates without experience of employment are likely to struggle in the job market of 2011. The report, published by High Fliers Research, suggested that whilst job-hunters can look forward to increases in recruitment levels during the year, those who lack any previous work experience are unlikely to be successful.
Assessing the attitudes of 100 of the top graduate employers, the survey confirms that a third of all entry-level positions will be awarded to candidates who have already worked for their organisations. Particularly competitive are the fields of banking and law, where at least half of all entry-level positions are expected to be filled by graduates with previous experience at the same firm. Two thirds of recruiters are warning that applicants without any previous work experience have “little or no chance” of receiving a job offer on their graduate training schemes.
Following publication of the report, Universities Minister David Willetts commented: “Whilst we welcome signs of an improvement, the job market remains competitive for new graduates, as it does for everyone, and graduates need to work hard to maximise their chances of success. However, a degree remains a good investment in the long term."
The report also suggested that average starting salaries are expected to remain at approximately £29,000 and that the largest graduate recruiters of 2011 will be PricewaterhouseCoopers, Deloitte and KPMG.
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