Monday, 14 January 2013

High Fliers

New High Fliers is out.

At this point I ought to do the usual disclaimer about the sample. The survey covers the Times Top 100 employers only, and is heavily weighted towards London (84% of the sample  are hiring there) and the finance industry (over 40% of the jobs covered are in the industry).

To give a bit of perspective, last year, 20% of graduates started work in London and somewhere around 6 or 7% of graduates went to work in the finance industry (it's not easy to be precise with SIC codes).

The Press have covered the basics in their idiosyncratic fashion - the jobs market is getting worse! No! It's getting better!

Actually, if one strove for accuracy, Lord Leveson, an impartial piece on this report would probably read something like 'A survey of a part of the graduate jobs market found that last year was slightly more difficult than 2011, but that the employers surveyed currently expect 2013 to be a little better. All that may change, of course'. But that makes jolly dull headlines.

The report is free, so there's no excuse not to read it because there are a number of very interesting sections. The most significant part is the continuing story of how important work experience is for this group of employers. With the exception of investment banking and oil and gas, all sectors covered upped their numbers of work experience places, and in law and investment banking, the majority of graduates getting jobs last year with surveyed organisations had already worked there.

added at 15:05: even so, 44% of employers in the sample stated that they would be 'quite' or 'very' likely to offer a job to a graduate with no work experience at all

Most of the companies surveyed are offering structured work experience placements as part of a degree course, and it's plain that for some companies, the decision to work for them is best made when you apply for your course and not in your final year.

Overall, don't mistake this for a comprehensive look at the whole graduate jobs market, and so don't draw too many conclusions about the whole market from it (although it does envisage little change), but it works well as an examination of a small but sought-after slice of some of the best-paying employers and particularly the ways they recruit.

piece updated at 15:05 to correct a typo and to add another piece of data.

1 comment:

GRB said...

Spot on article, as always Charlie, and exactly our opinion here at GRB. We have been posting along the same lines online in response to this survey. Whilst this survey is useful to job seeking students and graduates we are only talking about graduate schemes. As you know there are plenty of proper, career enhancing roles with forward thinking firms all over the UK but they go under the radar for most graduates. Our advice to graduates has been to adapt to the jobs market, because it has changed, look at the bigger picture and seek ways to stand out. It can be done but they have to put 100% into their approach.