It has come to light that the jobs market for graduates is a lot more hopeful than it was originally thought, with Warwick’s figures also above average for the UK.
The Higher Education Careers Service Unit (Hecsu) and Association of Graduate Careers Advisory Services estimates that 76 percent of university leavers are in employment or further education six months after graduation, according to a recent survey.
This figure is in contrast to Warwick’s 89.7 percent, which is over 13 percent above the national average.
Although there is currently a difficult economic climate, affecting the recruitment sector particularly, only 9 percent of recent graduates countrywide are unemployed. The University of Warwick ranks seventh overall out of all the universities in the UK targeted by the top 100 graduate recruiters.
The survey reflects previous studies that those with a degree are less likely to be unemployed, and usually will earn higher incomes than non-graduates.
Warwick is seventh out of 24 Russell Group Universities for salaries, according to the Sunday Times league table. On average, university leavers are on a salary between £18,000 and £24,000 six months after graduation. The average salary for a Warwick graduate is slightly higher than this at £24,490.
The graduate jobs market appears to have remained stable, with figures very similar to those of the previous year.
However, its demographic is changing; there appears to be a higher demand for graduates on the job market, and 5 percent of young people are self-employed. This may suggest that the weak economy has inspired graduates to set up their own businesses.
It has also been discovered that 15 percent of recent graduates work in the retail, catering and bar staff sector, with 13 percent in health sector jobs, 8 percent in business and finance and 7 percent in media and design.
Many university leavers are still in non-graduate jobs, and few are employed in jobs which normally require post-graduate study, for example law.
Students also seem to migrate towards London and the South East to find work. One in five employed young graduates work in London.
It is believed that government spending cuts could be affecting the graduate jobs market, as fewer university leavers seem to be working in the health, education and social services sectors.
The deputy research director at Hecsu, Charlie Ball said: “Over 166,000 of last year’s graduates were known to be working in the UK six months after leaving university – nearly 8,000 more than the previous year.
“The figures show that even in difficult times, graduates can and do get jobs.”