Graduate salaries increasing – but not necessarily for Warwick students

Recent research from AGR (Association of Graduate Recruiters) has revealed that graduate starting salaries are expected to rise for the first time since 2009.

The findings, based on a poll put to more than 200 national employers such as M&S and UBS, estimate that the average starting salary for a graduate will increase by 4 per cent to £26,000 this year.

At first glance this appears good news for Warwick graduates. However, whilst the ‘average’ salary may be increasing, not only does a massive gap between the highest and the lowest starting salaries still remain, but it appears that certain subjects have a surprising appeal to employers.

It may come as no shock that a Warwick student studying Economics or Engineering is set to achieve a starting salary surpassing that of a Humanities student.

However, certain degrees – Middle Eastern and African Studies or Iberian Languages for example, neither of which are offered by Warwick – promise far higher starting salaries than students of Law, History and English (a difference of £7,000 in some cases).

Law and Sociology student Rosa Coleman said: “One of the reasons I chose to study Law was because I assumed I would have excellent earning potential by the end of my degree. I would have thought something as specific as East and South Asian Studies would put employers off.”

Undergraduate Mathematics Student Charlie Wakeling seems to be of a similar sentiment. He said he felt “angry” that the difference in the starting salary between a Mathematics graduate and a Business Studies graduate was less than £2,000.

Education Officer Sean Ruston said: “Earnings aren’t everything, but if you’re motivated by financial gain you need to think about what you can do to maximise your earning potential from the onset – it’s no good leaving things like work experience to the last minute.”

The AGR’s research contradicts recent research published by High Fliers, who also suggested that 2012 would see the UK’s top employers employ more graduates than ever before – an estimated increase of 6.4 per cent.

AGR pull apart this claim in their report. They expose the dramatic variations between industries, revealing that employment opportunities in some of the industries most popular to Warwick graduates are actually in decline.

Whilst those seeking employment in the public sector, construction or IT can enjoy a dramatic increase in vacancies (upshot of 28 per cent), those wishing to secure roles at investment banks should prepare for a shocking decline in vacancies (41.7 per cent).

This news does not bode well for students at Warwick, as the Financial and Insurance Industry rank as one of the University’s top four types of employer according to statistics published by Careers and Skills.

In addition, Warwick fares poorly in data collected by the DLHE (Destinations of Leavers from Higher Education), but Ruston argued that the data isn’t necessarily a fair reflection of the truth.

“The data is based on graduates who have secured jobs after only six months – for some reason Warwick graduates tend to take a little longer to enter employment. Besides, it’s no wonder institutions such as LSE or UCL emerge on top – their graduates have the advantage of already being in London.”