An insight into the graduate job market in 2017
Another year has flown by – can you believe that 2016 is already over? That being said, it’s not exactly been plain sailing.
Last year saw Britain vote to leave the EU and the US vote for Donald Trump to be their next President.
However, it’s also been an interesting year when it comes to the job market. So, what happened last year and what can we expect from the graduate job market in 2017?
Analysis has shown that graduate jobs in particular sectors are proving much more popular than others.
Some of the most sought after graduate roles in the past year included those within management, sales, finance, marketing/PR and retail.
This is likely to continue into 2017, therefore graduates seeking employment within these industries next year need to be prepared to tackle fierce competition in the graduate job market in 2017.
In the meantime, other industries such as engineering, construction and manufacturing are desperate for applicants!
2016 saw a concerning 8% drop in graduate job vacancies. It is thought that this is mainly attributed to the uncertainty surrounding Brexit.
Most graduate roles have over 100 applicants.
2017’s graduate job hunters will need to do all they can to stand out from the pack.
Don’t be deterred, however, statistics suggest that more than 90% of UK graduates find themselves in employment or further study within 6 months of graduation.
It’s all about boosting your employability and perfecting your applications to make sure that you stay ahead of your competition.
Again, thanks to the EU referendum and inflation, graduate salaries in 2016 took a hit. Companies have had to cut back on what they pay graduates to accommodate rising costs.
This means that graduate career seekers will need to be realistic and open minded with their salary expectations in 2017.
With the current state of the market, 2017’s graduates may need to lower their starting salary expectations. Don’t pass up a great opportunity simply because of a slightly lower salary, you may live to regret it. Remember, your starting salary is just that, the salary you start on.
If you work hard and impress, you’ll be rewarded with a pay rise before you know it!
Some clear trends came to light in 2015/2016 regarding where graduates are choosing to work. London is still proving to be a popular choice for grads.
So much so that companies are struggling to fill their vacancies in regional cities.
Therefore, those looking for grad jobs next year may benefit from bearing this in mind. Yes, London is an impressive city, but you may find better career prospects elsewhere.
Certain cities have proven to be better places to secure employment, too. For example, according to Adzuna, some of the best cities to find jobs in 2016 included:
Whereas, some of the worst cities were:
This is all down to the ratio of job seekers to vacancies, and if you are debating which city you should start your career in, this is well worth researching carefully.
All in all, going forward, the graduate market in 2017 is going through some significant changes. The key things that grads should bear in mind are:
- The jobs are out there but it’s essential to stand out
- You will need to be realistic with your salary expectations
- Where you choose to job hunt will affect the likelihood of you securing employment
- Be prepared to compete for jobs in popular industries
Good luck and all the best for 2017!
If you want to know how to compete with British students then book a free consultation with one of our coaching team today.