A new report from Incomes Data Services (IDS) shows that starting wages for a graduate job this year could be at their lowest real term level for 9 years.
According to the research, graduate starting salaries peaked at just over £20,600 three years ago and could remain at around the £25,000 mark this year. With the cost of living rising, it could leave the average graduate with even less in their pocket than last year’s crop once they start their new graduate job.
The survey took into account figures from over a hundred graduate employers and revealed that, after adjusting for inflation, a graduate of 2012 will be over £300 worse off than a graduate of 2011.
Head researcher at IDS, Nasreen Rahman, said that the demand for graduate jobs was in fact returning but that there is still strong competition having a dampening effect on starting salaries for graduates.
“It remains a buyer's market for graduate recruiters this year, with starting salaries set to stagnate for a further year. High rates of price inflation over the last few years have been eating away at the purchasing power of starting salaries for new graduates,” said Ms Rahman.
If you are wondering where the big money lies, then graduates who find jobs as lawyers are set to receive the highest starting salaries, with an average of £36,000.
Source: E4s.co.uk, Monday 16th April 2012
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