Graduate salaries down by 6%
It is something that we know will come as no surprise: graduate salaries are on the decline.
XpertHRs annual graduate recruitment survey showed that starting salaries offered to graduate recruits are 6% lower than in 2009; indicating that they are not keeping up with pay rises across the economy.
Following the student riots over university tuition fee increases last week; this news – though not good – could act as some justification for the protesters. Part of the rationalisation for the substantial tuition fee increases was because it was alleged that graduate salaries were becoming more generous, something the XpertHRs survey disputes.
Half of the 190 employers surveyed offered graduates starting salaries of between £20,000 and £26,000. Overall however, the starting salaries varied greatly: with the lowest graduate earning £12,000, and the highest receiving £42,500.
As the cost of living continues to rise, it is feared that graduates will face further financial pressure in the future, particularly in the context of increased student fees to initially contend with.