The average starting salary for graduates is set to rise higher than previously predicted, according to the Association of Graduate Recruiters (AGR), which published the summer edition of its bi-annual survey recently.
Previously, AGR members had predicted a 4% increase in graduate salary, to £26,000. New data in the summer edition reveals an even more positive picture, as recruiters exceeded their estimate and indicated an expected increase of 6%, to £26,500.
Meanwhile, the survey suggested further positive news for graduates, as vacancies for graduates are predicted to dip by a marginal 0.6%. This follows a previous predication of 1.2% for the same period, demonstrating a gradual return to stability in the graduate jobs market.
The survey also shows that there are fewer applications per place this year, decreasing to an average of 73 per vacancy following an unprecedented high of 83 applications per vacancy last year. Respondents noted that the quality of applications had increased, suggesting that graduates are taking their time to be more selective and thorough in their applications.
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 recruit. This has increased from 73% last year.
The AGR is the leading voice of graduate recruiters and developers and its bi-annual survey provides the most extensive and detailed insight into the state of the graduate jobs market. Today’s edition is based on the responses of 215 AGR members in the UK across over 20 sectors, which will provide an estimated 21,194 graduate vacancies in 2012. The research was carried out by research specialists CFE during May 2012.