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UK Graduate Employment: 2011 Update

UK Graduate Employment: 2011 Update. Andrew Whitmore Assistant Director MLP, Careers and Employability Division The University of Manchester. Roller Coaster Market. October 2008 “Graduate jobs to increase by 32.5%” (various media)

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UK Graduate Employment: 2011 Update

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  1. UK Graduate Employment: 2011 Update Andrew Whitmore Assistant Director MLP, Careers and Employability Division The University of Manchester

  2. Roller Coaster Market October 2008 “Graduate jobs to increase by 32.5%” (various media) Feb 2009 “ 24.9% less graduate jobs this year” (Assoc of Graduate Recruiters) July 2009 “higher levels of graduate unemployment” (HESA) Feb 2010 “graduate level jobs dropped 8.9% in 2009” (AGR) May 2010 “49% of graduate recruiters plan to increase number of jobs in 2010” (AGR) May 2010. 51% of firms worried about recruiting graduate calibre (CBI) Spring 2011 “record high levels of unemployed graduates” (AAT Survey) Spring 2011 “significant increase in graduate opportunities for summer 2011” (AGR)

  3. Quick Quiz (1) What % of the current membership of The House of Commons have degrees? How many HE student were there in 1968? How many HE students were there in 2009? What % increase or decrease is forecast in 2011 for graduate banking positions? According to the Leitch Report what % of jobs will be graduate level by 2020?

  4. Quick Quiz (2) What was the average starting salary according to the Assoc of Graduate Recruiters in 2011? How long do new graduates expect to be with their first employer (in years and months)? How many finalists used their university careers service in 2010/2011? PWC were voted top employer in Times 2011 survey, how many graduates will they recruit this year? What % of final years thought that there wouldn’t be enough jobs in 2011 What % of university final years said that they wouldn’t go to university if the fees were £9k p.a?

  5. SESSION OUTLINE • The Changing Graduate marketplace • What do Graduates do? • The Graduate Market – trends • Does it matter what you study? • What are Employers looking for? • How can students develop these skills? • HE Careers Services • Useful resources and information

  6. THE CHANGING GRADUATE MARKETPLACE • Degree holders now account for more than 80% in “professional occupations” • The Leitch Report (2006) predicts that by 2020, 42% of jobs will be filled by people with degrees • A degree is a necessity for many professions - e.g. Pharmacy, civil engineering, law etc • Other areas recruiting graduates in larger numbers - e.g. retailing, banking, police, journalism

  7. FACTS AND FIGURES The Association of Graduate Recruiters (AGR) has 750 members – most blue chip companies, much of the public sector and all of the UK’s major industry sectors AGR members collectively employ around 21,000 graduates each year There will be 400,000 new graduates in 2011

  8. FACTS AND FIGURES A degree is now a pre-requisite for around 1 in 3 entry level jobs Average graduate starting salary in 2008* was £19,677 (DLHE), £24,048 (Prospects), £25,000(AGR) A “job for life” is an outdated concept – people graduating this year will have many jobs, and possibly even several careers, before they end their working life aged about 70. ONS 2011 reported from Labour Force survey that on average a degree worth £12k per working year

  9. THE CHANGING GRADUATE MARKETPLACE Large organisations downsizing Flatter management structures Greater need for higher level skills Global economy / Technology More people working for smaller companies (99.2% of businesses in UK are Small/Medium Enterprises) More temporary contracts 12.9% of workforce self-employed Uncertainty in labour market

  10. THE CHANGING GRADUATE MARKETPLACE • Traditional “Graduate” vacancies advertised by the big blue chip companies represent a small percentage of the opportunities on offer • The graduate job market has become even more competitive • Recruiters can still struggle to fill vacancies • A degree can offer more job stability • A degree opens up opportunities to work abroad (many companies have global recruitment strategies)

  11. WHAT DO GRADUATES DO? 2009* • Entering Employment 61.3% • Work and further study 8.2% • Further Study 16% • Unemployed 9.3% • Not available for work 4.0% • Other 1.2% *Figures vary from course to course • Average graduate starting salary in 2009* was £19,695 (DLHE) www.prospects.ac.uk/links/wdgd

  12. GRADUATE JOB MARKET: UP OR DOWN?

  13. WHAT’S THE CURRENT PICTURE? Expansion or contraction, summer 2010: Investment Banks +33% Accountancy & Professional Services +13.9% High Street Banks +30.2% Retail +21.3% Consumer Goods - 3.9% Engineering & Industrial -2.1% Public Sector -4.3%

  14. WHAT’S THE CURRENT PICTURE? Winter 2011: Law + 15.3% Engineering +11.3% Banking +9% Retail +6.8% Public sector +6.8 Investment Banking +5.4% Source AGR

  15. CURRENT PICTURE SNAPSHOTS • Credit crunch…a reduction in opportunities in 2009 but still more vacancies advertised than in 2004 at Manchester • 2011 Careers Fairs – numbers are up compared to last year • Many retailers are increasing graduate recruits this year • Banks are back! • Consulting up • Most accountants at regular levels • Vacancy stats are bouncing back – 2010 showing increases compared to 2009, up 17% at Manchester.

  16. MANCHESTER VACANCIES

  17. LONGER TERM PROSPECTS • Class of ’99 research says university education still a worthwhile investment in job market • The majority of those surveyed at the time were in jobs appropriate for their education: as managers and senior officials, professional occupations, associate professional and technical occupations • In addition, they were also working in a ‘graduate’ job

  18. DOES DEGREE DISCIPLINE MAKE ANY DIFFERENCE? • Two-thirds (66%) of vacancies advertised are open to graduates from any degree discipline. • Graduates from vocational degrees are not tied to a specific job area • Many arts/humanities graduates take longer to discover what they want to do or wish to enter competitive career areas • For many employers academic discipline is irrelevant - personal qualities and transferable skills more important

  19. DOES IT MATTER WHAT YOU STUDY? Any degree discipline accepted- may need further study and/or experience Management TV/Radio Law Building Society Computing Insurance Personnel Journalism Marketing Public Relations Advertising Social Work Banking Accountancy Retail Management Probation Work Police Management Consultancy

  20. Enthusiasm/passion Customer focus 'Can do' attitude Ability to work in teams Ability to adapt Ability to use IT Willingness to learn Higher level problem solving skills Creativity Leadership Communication Skills WHAT DO EMPLOYERS REALLY WANT FROM GRADUATES?

  21. KEY TRENDS IN GRADUATE EMPLOYABILITY • Work experience is increasingly important • Attitude and work ethic are assessed • Employers assess on behavioural competencies • Students need to match their skills and experiences to employers’ requirements • A degree alone is not enough!

  22. HOW CAN STUDENTS DEVELOP THESE SKILLS? • Self-awareness is an important starting point • Knowledge of the Labour Market • An understanding of the target sector • The ability to match one’s own skills and experience to those of employers • The desire to continually develop skills and experience in order to meet the needs of employers

  23. CAREERS SUPPORT AT UNIVERSITIES • Variable, but UK highly regarded globally • Different models • Some linked closely to academic support • Some a student service • Some part of marketing and outreach • Many straddle all above!

  24. SUPPORT AT MANCHESTER We involve employers in a range of support activities offered to students, including: • Manchester Leadership Programme • Volunteering Opportunties • Manchester Gold Mentoring Programme • Career Management Skills modules • Manchester Graduate Internship Programme (MGIP)

  25. SUPPORT AT MANCHESTER, Employer recruitment activities • Autumn 2010 – over 400 different recruiters targeted our students • 6,000 organisations advertise opportunities annually • 129 company presentations took place over a six week period • Around 20 workshops and skills sessions led by recruiters • 400+ recruiters attended one or more of our fairs • 150+ organisations supporting our mentoring programmes • Events programme also includes employer presentations, talks, and Insight courses

  26. SUPPORT AT MANCHESTER One-to-one support: • Student interviews • Job seeking advice • Application form/CV advice and feedback • Mock interviews • Video mock interviews • Assessment centre advice

  27. Finally….. • “I loathe filling in applications so much that I’ll give you details at the interview” • “In my spare time I enjoy hiding my horse” • “I have excellent memory skills, good analytical skills, excellent memory skills” • “I am a conscious individual” • “Here are my qualifications for you to overlook” • “I am someone who knows my own destiny, but I have no definite long term plans”

  28. USEFUL RESOURCES WEBSITES: • http://www.careers.manchester.ac.uk/ • www.prospects.ac.uk - careers services’ desk (labour market information) • http://www.prospects.ac.uk/links/wdgd • http://www.hecsu.ac.uk/hecsu.rd/research_reports_359.htm • http://www.hecsu.ac.uk/hecsu.rd/index.htm

  29. USEFUL RESOURCES WEBSITES: • www.prospects.ac.uk/links/CSDSevenyears • www.prospects.ac.uk/links/CSDGMT • http://www.ri5.co.uk/site/news/article/the-month-in-he-31/ • http://www.heacademy.ac.uk/home • http://www.unistats.com/

  30. THANK YOU!THANK YOUQUESTIONS?

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