Latest news: Graduate salaries on the rise

New data has revealed graduate starting salaries have increased this year, for the first time since 2009. 10/07/2012

The winter edition of the Association of Graduate Recruiters (AGR) bi-annual survey, which was published in January, predicted a 4% rise - up to £26,000 - in starting salaries for 2012.

However, the latest edition of the report has found that this year starting salaries have exceeded expectations, actually growing by 6% to £26,500.

In further positive news, the study revealed there are more graduate jobs available than previously predicted. The number of roles dropped by 0.6%, compared to the forecasted 1.2, pointing to a gradual return to stability in the graduate jobs market.

A 2:1 degree classification remains the most common selection criteria used by graduate recruiters, with 76% using it as minimum entry standard for the graduates they take on.

Carl Gilleard, chief executive of the AGR, said, ‘The rise in starting salaries will be good news to students, who are bracing themselves to take on higher levels of debt as tuition fees rise to £9,000 from September.’

The latest survey is based on the responses of 215 AGR members in the UK across over 20 sectors. It is estimated these members will produce more than 21,000 graduate vacancies in 2012.

‘It’s encouraging to see that employers are still talent-planning for the future and that the number of graduate vacancies is remaining constant,’ Mr Gilleard added. 

The survey also showed there are fewer applications per graduate vacancy this year, decreasing to an average of 73 per vacancy, following an unprecedented high of 83 applications per vacancy last year.

AGR respondents noted that the quality of applications had increased, suggesting that graduates are taking their time to be more selective and thorough when applying.