The bright lights and big opportunities on offer in the capital are proving to be an irresistible lure for today’s graduates, according to the latest research.
Figures from the Office for National Statistics (ONS) have revealed that London is a veritable jobs mecca for degree holders with the proportion of working-age graduates standing at 60% in Inner London and 45% in Outer London.
Previous research may be able to shed light on why London takes the lead in terms of graduate numbers. A report from the Higher Education Funding Council for England showed that youngsters in the capital are 43% more likely to head to university compared to their counterparts in the north-east of England. In addition, research conducted by the Higher Education Careers Service Unit (HECSU) highlighted that London took the lead in a regional overview of graduate employment, accounting for 21% of graduate jobs across the country.
So it seems that a combination of plentiful job opportunities and Londoners’ increased propensity for attending university could hold the key to the capital’s burgeoning graduate talent pool.
However, further figures from the ONS show that London doesn’t have the monopoly on working-age graduates, with other regions across the UK also home to a fair share of the UK’s graduate population. Following London was Scotland (41%), South east England (40%), South west England (37%), East of England (36%) and Wales (33%).
But while graduates continue to take up an increasing share of the population, rising from 17% in 1992 to a current figure of 38%, the bad news is that half are working in non-graduate jobs.
Commenting on the figures, TUC general secretary Frances O’Grady said: “While university leavers are still better paid and more likely to have a job than non-graduates of the same age, their prospects are worsening, just as their debts are soaring.”
However, on a brighter note figures from the ONS show that those graduates who are able to secure jobs in sectors ranging from social sciences and law (£30,004) to engineering (£42,016) can expect salaries that fall above the £30,000 mark.
Are you a UK graduate? Do you feel that your chances of securing a graduate-level job are higher in cities such as London?