Graduate outlook best since 2008

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Andrew Feinberg

White House Correspondent

This summer’s graduates will have the best job prospects since the economic crisis began, according to research out today.

A survey of the country’s 100 top graduate recruiters by High Fliers Research shows a 4.6 per increase in jobs available, compared with the 2.7 per cent rise expected earlier in the year. However, competition for individual jobs remains fierce, with an average of 46 applications for each vacancy this year, compared with 35 before the recession.

Despite public spending cuts, the biggest growth area for jobs remains the public sector – which has increased recruitment by 18.6 per cent with 450 extra jobs. Many of these are a result of the Teach First scheme, which recruits top graduates into inner-city schools.

The area showing the biggest drop in vacancies is the media – where vacancies have dropped by more than 50 per cent since 2008 and average salaries have gone down by £2,500 since last year. Over the past four years, starting salaries have been pegged at an average of £29,000 – although in investment banks they have ranged from £37,000 to £49,000.