Latest news: Graduate salaries down

The latest report by Incomes Data Services (IDS) states that starting salaries for graduate jobs will fall to the lowest levels since 2003. 16/04/2012

The average starting salary for graduates this year will be £25,000, unchanged from 2011.

According to the Pay and progression for graduates 2012 report, the growth in cost of living means that graduates entering jobs this summer will find themselves worse off than those almost a decade ago.

Principal researcher of IDS Nasreen Rahman says, ‘It remains a buyers’ market for graduate recruiters this year, with starting salaries set to stagnate for a further year. Even though the demand for graduate recruits is showing signs of revival, the competition for places means that employers are under little pressure to increase current rates despite high inflation.’

The good news is that IDS have announced a rise in the number of graduate positions by 9.1%.

Rahman states, ‘Demand for graduates is expected to be relatively buoyant in 2012. With economic sentiment picking up, employers are starting to expand their graduate programmes further, with some employers now re-opening schemes that had been put on ice during the downturn.’