The Association of Graduate Recruiters (AGR) published their Annual Survey yesterday, revealing some very interesting insights into today’s graduate market.
Here are the top-line statistics:
- 2015 has seen a 2% rise in graduate vacancies
- £1000 increase in average starting salaries
- Despite making up nearly 60% of all graduates, only 41.6% of graduate hires are women
- Average Intern salaries have reached £317 per week
- Only 11% of graduates leave in their first two years
The survey reveals more graduates are being hired than ever before, with a 13.2% rise in graduate vacancies for 2014-15.
Diversity
Despite what is clearly a buoyant graduate marketplace, diversity remains a challenge. The AGR Annual Survey has found that the number of female graduates recruited onto AGR employer programmes averages at just 41.6%. This is especially surprising given that research by the Higher Education Statistics Agency (HESA), states that 58.7% of university leavers are women.
The overall share of females entering the graduate workforce has not improved in the last five years, despite 62.8% of firms having implemented a strategy to improve their gender balance.
Stephen Isherwood, Chief Executive of the AGR, said: “Gender diversity is an issue which requires more of our attention. Although our data cannot explain why women aren’t securing more graduate placements, it indicates there is more to be done to attract female graduates who in turn need to make the most of the opportunities available.”
Salaries
Average graduate salaries have seen an increase of 3.7% on last year: rising from £27,000 to £28,000.
After three years with the same company, graduates are receiving a median salary of £35,000, an increase of 4.5% compared with 2014.
Following much controversy in the press of interns being overworked and underpaid, salaries for internships have increased by 3.3% to £317 per week.
Retention
Whether it’s the salary increases or better opportunities, graduates are now sticking with companies for longer according to this research. In 2014, the CEB stated that 25% of graduates leave their graduate role within the first year. The AGR Survey reveals that graduates are staying with AGR employer members for an average of five years. What’s more, only 11% leave before the end of two years.
Keep a look out in your inbox for more detailed insight from the survey and what it means for you as an employer.
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