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Graduate Tax – Friend or Foe?

July 19th, 2010

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As a graduate or current student, the words ‘tuition fees’ and ‘student debt’ may make you shudder at the mere thought of them.  You might want to add ‘graduate tax’ to this list, as the Government has revealed plans to totally scrap the tuition fee system.

Vince Cable, the new Business Secretary under the Coalition Government, gave his first speech on Thursday outlining the proposal to introduce a graduate tax to replace tuition fees.  According to Cable it would be a fairer system, whereby graduates are taxed according to their earnings, higher earners taxed considerable more than those with lower salaries.  “The problem”, he said, with the current tuition-fee system, is that “it is a fixed sum – a poll tax – regardless of the income of the graduate. It surely can’t be right that a teacher or care worker or research scientist is expected to pay the same graduate contribution as a top commercial lawyer or surgeon or City analyst whose graduate premium is so much bigger.”

The proposal comes as part of an independent review, led by Lord Browne, which is assessing how universities are to be funded in the future, with the report being published in the Autumn.  There are a number of keys issues that are going to be reviewed alongside the new proposal, including the impact it will have on student debt and how to encourage more students from disadvantaged backgrounds to get into higher education.

NUS (National Union of Students) President, Aaron Porter, commented after Cable’s proposal, stating his opinion that “the fair solution is to abolish tuition fees and ensure that graduate contributions are based on actual earnings in the real world, rather than sticker prices in prospectuses, which are based on guesswork”.

So does this mean that tuition fees, as well as a hefty student debt, will soon be a distant memory?  Cable recognised this as a major problem with our current university system – that students now expect to come out of university with huge amounts of money owed to the Government.  “Most of us”, he said, “don’t think of our future tax obligations as ‘debt’”.  However, the new tax could mean the top 20 per cent of earners will be paying the equivalent of £16,000-a-year tuition fees, according to The Russel Group which represents twenty elite universities.  Perhaps a graduate tax is the way forward – what do you think?  Is it a fairer system or an excuse to wring out more money from graduates?  Tell us your thoughts.

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Does University equip graduates for the real world?

June 4th, 2010

graduate image

The last few days have seen a buzz of opinions and debate in the pages of the Metro about the expectations of graduates when it comes to life and jobs after University. Some have argued that the expectations of graduates are far too high upon obtaining a degree, ‘arrogantly’ believing that this qualification will issue them a fast track ticket into a high flying and well paying job. There has been a backlash against this opinion from a number of recent graduates, some of who bemoan the fact that they have studied hard for a number of years, only to find themselves working in a theme park, in a bar or stacking shelves. Others argue that not all graduates leave University expecting their degree to carry them into a fantastic job. Many work hard, completing work placements and gaining experience in their field of interest and eventually landing that dream job.

Highly academic subjects, whilst offering research, analysis and writing skills, do not equip a graduate with many specific skills needed for a career in marketing, sales or HR. This is where the deficit lies. With 300,000 due to graduate from University this summer, competition for graduate jobs will be extremely fierce and a good degree from a top notch University may not be enough to distinguish one graduate from the thousands of others. Work experience is therefore becoming an increasingly vital addition to any graduate CV. James Caan has recently written about the importance of internships for graduates in the Telegraph. He argues that securing work experience is crucial and encourages graduates to use their summer wisely, by completing an internship.

With the recession still looming large, companies are reluctant to risk hiring a graduate full time who, although may have an impeccable academic record, has no real work experience. An internship is the ideal way for a graduate to prove to an employer that they can do the job well and fit in with the company and in our experience, often results in a higher starting salary, since the element of risk has been removed. University is therefore increasingly viewed as the first step to graduate employment and an internship as the second. The first proves your academic worth and the second proves your ability to do a particular job. Combined, they are the key to career success.

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Harry the Homeless Graduate

May 28th, 2010

Harry graduated from Cambridge University with a 1st class honours degree in English Literature.

He has been living on the streets of London for the past 6 months. If only he had known about Inspiring Interns.

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What’s the best way for you to secure a graduate job?

May 12th, 2010

A survey by the Chartered Institute of Personnel and Development (CIPD) found that 61% of employers saw a lack of skills as the biggest obstacle to recruitment. A quarter of graduates have said their degree did not equip them with the skills needed for the workplace. Tom Richmond, policy advisor to the CIPD, recently told the Independent that work experience will make a big difference when applying for graduate jobs this year.  “There may be long waiting lists and rejection, but you’ve just got to keep plugging away, because experience is often the decisive factor that gets you the job.  The skills you can get in an internship – things like teamwork and communication – you can’t always get through a degree.”

As a senior recruitment officer at Shell, Nimai Swaroop deals with thousands of internship applicants each year. A former intern himself, he’s emphatic about the benefits. “It’s a great platform, giving practical opportunities and confidence,” he says. “Of the 14,000 applications we had last year, 130 successes came from our internship programme.”

Even without a job offer, internships are advantageous. Yosuke Homma, 24, interned at legal firm Simmons and Simmons  and found it a hugely positive experience, despite not receiving a job offer. “I came away knowing that I wanted to work for a large international firm,” says Homma. “I’ve now got a contract with another top firm and my internship helped – it showed I had experience.” As well as bolstering your CV, an internship provides valuable specialist training, particularly for those studying non-vocational subjects, says Homma. “Having studied biology, interning gave me the opportunity to understand what solicitors did on a day-to-day basis. There was a decent effort at training us, with lectures on professional skills and resources available for research.”

Internships can also help forge your eventual career path. According to High Flyers Research, a quarter of final year students surveyed had applied to jobs they had little or no interest in. Benedict Hazan, a graduate mentor at Inspiring Interns, has advised hundreds of graduates on roles suited to them. His advice is: “Don’t feel rushed to join the rat race and get stuck in a job you hate. Try a job out through an internship to see if an industry is really suited to you.”  Benedict said the best way to get where you want to be is to know what your goal is and to work towards it. “Read newspaper articles and trade magazines. Speak to friends and family to get a bigger picture of what you really want.”

If you are one of the 1.3 million graduates who might be unsure of what to do post-university, give yourself the very best chance of securing a graduate job. Not only do internships help you clarify your chosen career path, they also give you an invaluable opportunity to network, the chance to build your communication and teamwork skills and confidence in the workplace. Inspiring Interns are the UK’s leading internship agency. Our internships are in a wide variety of sectors, including roles in up-and-coming mobile advertising and social networking marketing agencies. With an internship you have the very best chance to fulfill your potential.

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Student Room’s ‘Student Question Time’ – Internships

April 29th, 2010


via: online-betting-guide.co.uk

With only a week to go until Britain goes to the polls, election fever has well and truly gripped the Inspiring Interns office. Foreign affairs and apparent bigotry have stolen the headlines and yet, since our last blog post on the manifestos, graduate unemployment still resides in the shadows. In a brilliant feature on The Student Room, students and graduates were invited to put their questions and qualms directly to the heads of Britain’s leading political parties. Along with some fairly trivial questions – “What would you do if you went on a Gap year today?” (If you were wondering, Gordon Brown replied that he was going to watch more films, In the Loop perhaps?) – The issue of internships was directly raised. Here are the answers that each candidate gave.

Gordon Brown

“We’ve got to support the aspirations of people from all backgrounds so that everyone can benefit from internships. And employers must respect the legal obligations they have to all people performing work experience.

Our Manifesto sets out our commitment to open up opportunity for people from families on low incomes to enter professions like the media and law, expanding paid internships for students. To increase social mobility, careers advice for young people, including for younger children, will be overhauled, ensuring much better information and guidance.

We are creating a National Internship Service to improve access to professions which will deliver undergraduate internships, with the aim of widening access to professions.

We are also providing funding for 20,000 additional postgraduate places as well as 29,000 graduate-level volunteering places and 3,000 extra places for graduate entrepreneurship and help with business start-ups.”

David Cameron

“On the specific point about politics and Parliament, we need to remember that political parties are primarily voluntary organisations, so they do depend very much on volunteers. Of course, it’s crucial that people who are keen to get involved are not taken advantage of and have the right chances to move into paid employment. But I’d warn against doing anything heavy-handed which stops volunteers offering their help.

But there’s no doubt that we do need make it easier for people from all backgrounds to get involved – especially in Parliament. There are barriers at the moment blocking people from disadvantaged backgrounds and we need to get rid of them. My Shadow Cabinet and I have been working with a charity called the Social Mobility Foundation on a fantastic project to help provide placements for under-privileged students in Parliament and other sectors, and we’ve been able to give work experience and volunteering positions in our private offices to kids who might never have had a chance before.

But there is also a wider point here, connected to the big problem of youth unemployment here in the UK. It’s unbelievable that here we are, the sixth richest country in the world, and one in five young people don’t have a job. We’ve got to get job market moving and help more young people get started in careers.

One really exciting idea we have is to create thousands of new “work-pairings”. These work-pairings would allow young people who are unemployed and stuck on benefits at the moment to go out and get some real business experience – while keeping their benefits and also earning a small income at the same time. It’s a great idea, because it will fix the big problem we’ve got at the moment where thousands of young people don’t have jobs, but also don’t have the experience they need to make themselves attractive to employers. If we win this election, getting this scheme started is a big priority for me and my team.”

Nick Clegg

“You’re right, there are now a lot of interns working very hard and getting paid little or nothing for it. The danger is ending up in a situation where internships are exclusive to those young people whose parents can afford to help them. Internships can be an amazing way of getting a flavour for a possible career when you’re young and that option should be open to as many young people as possible. I know myself how fantastic that experience can be – I got to intern in New York, working on a magazine called ‘The Nation’ for Christopher Hitchens. Opening up the opportunity to intern to more people is important to my party, and we have a plan to create 800,000 internships in our first year in office, helping all the young people now struggling to find work. We’ve made sure that those places will be paid at £55 a week – enough to cover basic costs, and more than you get collecting Job Seekers’ Allowance.”

Although not a huge leap in terms of introducing new ideas and initiatives, it is encouraging to see that it is a matter that is on their agenda. Labour appear to be the most proactive, introducing a National Internship Service which will no doubt be of benefit to graduates in their search for employment. Nick Clegg’s offer of £55 a week is great but Inspiring Interns offer that already to their interns. We pay for lunch and travel expenses (which equate to around £200 a month) and therefore equal what the Liberal Democrats are offering. David Cameron once again makes the mistake of grouping graduate unemployment with youth unemployment as a whole. The assertion that it is one and the same is a little frustrating but hopefully the discernable difference between the two can be made clear in the future. All in all, this is not the radical action that we would like to see but at least it is a step in the right direction.

Read the whole articles at The Student Room.

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What the manifestos mean to graduates

April 15th, 2010

On your marks. Get set. GO.

This week saw the publication of each of the three main political party’s manifestos, in their separate bids to win the nation’s hearts and minds. Doused in a wash of hyperbole, the resounding words that rang out in all policies were ‘fair’, ‘change’ and ‘trust’, all of which carry relatively little weight in terms of tangible differences. Revealed with much pomp and regalia, they respectively staked their claim to raise the UK from the ashes of recession with inevitable public spending cuts stealing the limelight.  However, very few column inches have been dedicated to their stances on graduate unemployment, or education for that matter. Here is a summery of the Conservative, Labour and Liberal Democrat plans for employment, higher education and the youth generation.

Labour

“We will open up opportunity for people from families on low incomes to enter professions like the media and law, expanding paid internships for students.” Disregarding the poor phrasing on show here from Labour, this is the only mention of the word ‘internship’ in any of the three parties’ manifestos. That said, it is phrased in a vague and alluding manner. There are no tangible goals or objectives in this promise to “expand” and could mean a number of things. It is positive progression and could potentially benefit a lot of graduates. Aside from that, the manifesto focuses primarily on getting more people into higher education with little regard for what they should do after. This has been a policy of Labour’s from the offset and there is no surprise that the level of graduate unemployment is so high currently, with the incunbent government having shown such little appetite for expanding the options available when finishing university.

Conservative

“We will reduce youth unemployment.” This pledge appears early on in the manuscript and marks the Tories’ intent in the matter. Very noble, I’m sure, but there is a lack of clarity in how this will be achieved. One major issue that is immediately apparent is their inability to differentiate between graduates and those without a degree. Their proposed system is one in which those claiming Job Seeker’s allowance MUST be prepared to take job offers after two years on unemployment benefits, or must ‘work for the dole’. This includes community work which would surely distract attention from searching for job? Graduates looking for employment in a sector which benefits from and utilises their experience and skills may be forced to take any job irrespectively. Whilst proactive in cutting down unemployment, it perhaps seems brazen in its attempts to meet targets and unfortunate graduates may pay the price.

There is also a mention of rewarding SME’s with £2000 for taking on apprentices. The issue here is with the definition of ‘apprentice’. Its connotation is one of a vocational position such as skilled labourer, but if it further encompasses internships, or fields such as media or marketing for example, it may provide encouragement for smaller companies to take on graduates. Let’s hope that the definition is up for discussion as this could prove to be a positive step.

Lastly they propose to offer graduates incentives to pay off their student loans early, on a voluntary basis. This will no doubt only be achievable by postgraduates from a privileged background as they can rely on parental help to ultimately save them money. Students from underprivileged backgrounds struggle to afford payments already, hence the current system (no payments until earning over £15k), and this new plan completely undermines that.

Liberal Democrats

“We will create hundreds of thousands of opportunities for young people affected by the recession.” One of the key policies of the Lib Dems, and has been for eons, is to scrap tuition fees for students. A huge pledge that could save students in excess of £10,000 over the course of three years, which would also see funding for universities become the second highest public expenditure. Although they claim they will scrap the proposed 50% target for young people following on to higher education, I would imagine that even more will take up this new opportunity. Herein lies the problem again. Graduates with nowhere to go.

They do mention a work placement scheme which will last three months and where the participant will be paid £55 a week. Averaging at slightly more than Job Seeker’s Allowance, it still falls vastly under the minimum wage. As with the Conservatives, the definition of work placement is a broad one, in which I fear will focus on vocational sectors.

In all, none of the parties in question are tackling the issue of widespread graduate unemployment head on. The misconception that bundling unwitting A Level alumni into higher education will improve the state of the country is frankly farcical. Plenty of steps are being taken to lower youth unemployment on a wider scale but Job Centre Plus is ill-equipped to help with graduate job searching, especially in relatively new fields such as new media. More must be done to help this disillusioned generation and stop them from falling through the cracks.

We at Inspiring Interns are in the process of compiling a manifesto of our own. One in which we lay down the provisions that the government should be taking to help graduates on to internships and placements, and therefore onto the career ladder. We mark the steps that must be implemented to help fund unpaid positions and nurture graduate talent. Watch this space.

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Inspiring Interns’ Graduate Mission Statement

April 13th, 2010

Inspiring Interns Mission Statement

An inspiring mission statement from our inspiring boss! Rise to the challenge. Let’s get graduates back into internships and onto the career ladder.

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Why Degree Subjects are Irrelevant upon Leaving University

April 6th, 2010

The Telegraph recently reported that the majority of recent university graduates are turning to employment outside of their field of study. Is this a sign that the government drive for higher education for the masses is “counter-productive”? Can an internship help you in your career in as many ways as your degree?

In 2009, almost 13,000 students graduated from university with a degree in History. Yet there is only one David Starkey and history, as a profession, is waning in popularity. So do all of these students begin their courses with a career in History in their sights? The answer is probably ‘no’, and I imagine much the same can be said for many humanities and language students.

I graduated last summer with a 1st in English and I am currently working in the marketing department of Inspiring Interns. Does that make me part of the “disillusioned generation” that the article refers to? Technically, my current position is not directly linked to my degree but many of the skills I have developed in Higher Education are imperative to my current role.

Before I first submitted my application to UCAS to carry on drinking at the Fountain of Knowledge (or just drinking), I pondered heading straight into work. Many people spoke of the importance of work experience over education and I was sorely tempted. I eventually decided to continue studying and whilst at university I learnt many useful skills: researching, the ability to reason, discuss, rationalise. University for me was about learning transferable expertise that I could apply in the professional domain.

To make the assumption that all college leavers know exactly what career path they want to follow is ignorant. Therefore it should not come as a surprise that graduates choose to follow different paths in later life. Where internships can prove important is bridging that gap between university and employment, especially if you want to move away from your degree subject.

All it takes is dedication, enthusiasm and persistence. With this, and the skills that you have developed whilst at university, you have the opportunity to pursue virtually any career path (that dream of becoming an astronaut, however, may be a little out of reach).

We want to hear your stories. Have you deviated from your degree subject? Has it been easy? Is there too much pressure put on young people to establish a career path at an increasingly early age?

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Inspiring Interns welcomes push for fair internships

March 9th, 2010
Graduate Talent Pool - help or hindrance?

Graduate Talent Pool - help or hindrance?

On Sunday evening Donal MacIntyre presented an investigation into unpaid internships in the UK on his Radio 5 Live show. The report highlighted the fact that some companies are using the government website Graduate Talent Pool to advertise unpaid internships that potentially break National Minimum Wage laws.

Inspiring Interns shares the concerns raised on the programme and, further, welcomes any move to draw attention to the exploitation of graduates by businesses using unemployed young people as free labour. As a company we go to great lengths to ensure that our placements offer the kind of professional experience that graduates require in today’s oversaturated job market; moreover we only work with clients interested in developing young talent, not taking advantage of it.

The other main issue that the programme raised was how expenses-only internships are deepening the class divide, with only the wealthy able to undertake longer periods of work experience on low remuneration.

Inspiring Interns agree entirely that internships should be open for all, and back the government’s current schemes to support those who might not otherwise be able to afford internships. We were also delighted to hear David Lammy MP announce on Donal MacIntyre’s show that a new initiative will launch in the summer to offer means-tested support for graduates who undertake placements. Inspiring Interns believe that by offering government financial incentives, graduates will be inspired to test the water by gaining valuable experience in their chosen fields. They also have the opportunity to work in areas which they may not have previously considered. By participating in short term internships in a variety of industries or sectors graduates can make a more informed choice when planning their career path.

Inspiring Interns would also like to express support for businesses offering genuine internships, and urge the government to avoid over-the-top intervention that could damage a very beneficial system. There must be official recognition that in the current economic climate some companies simply cannot afford to pay interns and do not have long term openings. However, by offering a placement they do provide essential experience for graduates and potentially create permanent jobs; either when the market picks up or, more exceptionally, where the intern performs so well that the company perceives there to be a business case with low risk to take the intern on full time.

Banning unpaid internships would do more damage than good, both to young people and to the economy. Therefore the government needs to clarify legislation on internships, and follow the recommendations outlined in Alan Milburn’s report on social mobility. For as Mr. Milburn argues, “Internships are an essential part of the career ladder [and] part and parcel of a modern, flexible economy.”  At Inspiring Interns we aim to provide a valuable service both to graduates entering the job market for the first time and to industry. We provide choice, experience and hopefully long term career paths for our interns, whilst at the same time offering a commercial, low cost low risk business solution for.

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Slave labour graduates? Try ambitious young professionals

March 5th, 2010

On the 04/02/2010 the Daily Mail ran an article entitled ‘The slave labour graduates: Cynical firms are forcing thousands of high flyers to work for nothing – or even making them pay for the privilege’. In his report Tom Rawstorne suggested that the ‘cream of a generation’ were being taken for a ride by the system of internships that is becoming increasingly prevalent in our job market.

Inspiring Interns were left rather bemused by the entirely negative picture the Mail painted. Sadly there are companies willing to take advantage of unemployed graduates – with the media sector particularly guilty – but by and large the rise in internships has been a very positive development for both businesses and job seekers.

At Inspiring Interns we rigorously check our clients before we send them candidates to ensure the placement will benefit the graduate and that the company is not using interns as a rolling staff solution.

This means that, having been trading for just over a year, we now have a plethora of grateful graduates who are now in paid employment as a result of having done an Inspiring Interns internship.

Ben Tatton-Brown, CEO of Ring Ring Mobile, has hired eight interns from Inspiring, all of whom have secured permanent positions as a direct result of doing a placement. Tatton-Brown commented: “Inspiring Interns’ service has been invaluable to our company. We have found eight superb staff members that have developed and grown within their roles, and who would not have become part of this company had they not initially completed internships.”

Inspiring Interns are always thrilled to hear when our work has helped candidates gain invaluable experience, particularly when they have gone on to secure full-time positions. We believe it is this mix of developing skills and creating careers that make our company such an attractive proposition to graduates.

Inspiring Interns – specialising in finding meaningful internships for students and graduates –http://www.inspiringinterns.com

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