Graduates want responsibility, but don’t expect high pay

The current crop of graduates – sometimes referred to as Generation Y or the Millennials – might just be the hardest-working ever, eager to take on responsibility while expecting relatively modest pay in return.

A recent survey carried out by recruitment specialists Work Group revealed the strength of graduates’ work ethic, finding that salary expectations have been lowered by competition in the job market. However, graduates still crave early responsibility and opportunities to lead.

According to the Work Group survey, which was presented at a TARGETjobs Breakfast News event in London this week, half of graduates expect to earn under £25,000 a year, even though half of the top graduate schemes pay £30,000 or more.

The survey also found that graduates are still highly ambitious about their career development and progression. If anything, while their expectations in terms of pay have fallen, their desire to take on responsibility has grown. More than three-quarters expect to manage people within two years of graduating, and 84% expect to manage projects and work autonomously.

Steve James, head of editorial at targetjobs.co.uk, pointed out that this provided an opportunity for graduate recruiters, as they could potentially attract talent by offering early responsibility. He said, ‘Students’ ambitions for their personal development are undiminished by economic circumstances – although not so their salary expectations.’

Generation Y has not always been kindly treated by the media, with some commentators sniping about diva-like behaviour, and implying that graduates are not prepared to put the work in to achieve career success. Perhaps, in the light of these findings, it’s time for a general recognition of how driven and motivated graduates really are.

They are certainly faced with an infinitely more competitive graduate job market than their recruiters ever experienced. Delegates at the TARGETjobs Breakfast News event also heard that when many senior recruiters were students, only 35% of graduates got a first class degree or 2.1. That has now risen to more than 65%, and the number of graduates each year is six times greater.

Source: Targetjobs.co.uk, Thursday 23rd June 2011