[UK] Soaring salaries and strongest job market in years for graduates

Graduates are poised to enter the strongest job market Britain has seen in years in the wake of steep graduate salary rises and a significant increase in the number of graduate jobs, City A.M. reports.

New data from Adzuna shows graduate salaries up seven per cent compared to a year ago and the number of graduate job vacancies is up 59 per cent compared to May last year.

Despite global economic crises, soaring inflation and the UK’s cost of living squeeze, graduate employers posted 14,690 job adverts in May this year compared to 9,265 in May 2021, while average graduate salaries reportedly jumped to six-year highs from rates of £24,389 in 2021 to £26,076 today.

The figures come as employers face fierce competition to recruit and retain talent, in an ongoing fight between Britain’s biggest firms.

Adzuna executive Paul Lewis said, “Despite the negative headlines, plenty of sectors remain desperate for talent and looking to grads to fill those gaps. It’s a welcome piece of good news for the Class of 2022, who battled remote learning and pandemic pressures over the last two years.”

The battle for talent has seen the City’s major firms offer huge salaries to new staff as part of efforts to get grads on board. This upwards shift has seen JP Morgan offer fresh graduate salaries of £70,000 a year and Barclays offer £50,000.

Competition from the US has also led to the City’s major law firms offering increasingly high salaries. Graduate trainees in Davis Polk’s London office earn £60,000 and grads in Freshfields earn £50,000 a year.

Those starting on Aldi’s grad scheme are set to earn £44,000 and graduates working at Lidl will receive £37,000.

Adzuna’s research also found that graduates from London’s Bayes Business School - formerly known as Cass, the school changed its name in 2021 due to John Cass’ links to slavery - earned more than graduates from any other university in the UK. Bayes’ grads made average salaries of £52,167 five years after graduation.

Graduates from London’s other top-ranking universities including Imperial (£47,618), UCL (£40,886) and King’s (37,324) also received higher than average salaries after five years.

Mr Lewis said, “For those wanting to earn big, London universities are good bets with grads from Imperial College, UCL, and King’s all top earners five years into their careers.” 

Source: City A.M.

(Quote via original reporting)

Graduates are poised to enter the strongest job market Britain has seen in years in the wake of steep graduate salary rises and a significant increase in the number of graduate jobs, City A.M. reports.

New data from Adzuna shows graduate salaries up seven per cent compared to a year ago and the number of graduate job vacancies is up 59 per cent compared to May last year.

Despite global economic crises, soaring inflation and the UK’s cost of living squeeze, graduate employers posted 14,690 job adverts in May this year compared to 9,265 in May 2021, while average graduate salaries reportedly jumped to six-year highs from rates of £24,389 in 2021 to £26,076 today.

The figures come as employers face fierce competition to recruit and retain talent, in an ongoing fight between Britain’s biggest firms.

Adzuna executive Paul Lewis said, “Despite the negative headlines, plenty of sectors remain desperate for talent and looking to grads to fill those gaps. It’s a welcome piece of good news for the Class of 2022, who battled remote learning and pandemic pressures over the last two years.”

The battle for talent has seen the City’s major firms offer huge salaries to new staff as part of efforts to get grads on board. This upwards shift has seen JP Morgan offer fresh graduate salaries of £70,000 a year and Barclays offer £50,000.

Competition from the US has also led to the City’s major law firms offering increasingly high salaries. Graduate trainees in Davis Polk’s London office earn £60,000 and grads in Freshfields earn £50,000 a year.

Those starting on Aldi’s grad scheme are set to earn £44,000 and graduates working at Lidl will receive £37,000.

Adzuna’s research also found that graduates from London’s Bayes Business School - formerly known as Cass, the school changed its name in 2021 due to John Cass’ links to slavery - earned more than graduates from any other university in the UK. Bayes’ grads made average salaries of £52,167 five years after graduation.

Graduates from London’s other top-ranking universities including Imperial (£47,618), UCL (£40,886) and King’s (37,324) also received higher than average salaries after five years.

Mr Lewis said, “For those wanting to earn big, London universities are good bets with grads from Imperial College, UCL, and King’s all top earners five years into their careers.” 

Source: City A.M.

(Quote via original reporting)