Record competition, lower salaries in ¡®tough¡¯ graduate job market

Graduates of UK universities are facing an increasingly tricky job market, with falling starting salaries and artificial intelligence contributing to record competition, according to an annual survey.

The Institute of Student Employers¡¯ (ISE)?survey also found that many employers?have been reporting problems hiring international students as a result of changes to visa rules.

Respondents to 바카라사이트 annual Student Recruitment Survey received?more than?1.2 million applications to just under 17,000 graduate vacancies in 바카라사이트 last year ¨C around 140 applications per job.

This is a 59 per cent increase on 바카라사이트 year before and 바카라사이트 highest number of applications per job recorded since 바카라사이트 ISE first started collecting 바카라사이트 data in 1991.

And 바카라사이트 ISE says that,?although graduate vacancies have grown by 4 per cent in 바카라사이트 last year, employers are estimating a growth of just 1 per cent next year as a result of economic pressures.

¡°The current jobs market is tough for graduates, with a considerable jump in applications per vacancy,¡± said Stephen Isherwood, joint chief executive of ISE.

¡°While this marks a positive move from employers encouraging applications from a broader pool of candidates, 바카라사이트 downside is that this amounts to millions of rejection messages to students in 바카라사이트 last year.¡±

The digital and IT sector was found to be 바카라사이트 most competitive of all, with 205 applications per vacancy, followed by 바카라사이트 financial and professional services, which had 188 applications for every position.

Fewer than half of companies require graduates to have a 2:1 degree,?which 바카라사이트 ISE said was contributing to 바카라사이트 increased competition.

It also warned that 바카라사이트?use of artificial intelligence?(AI) in job applications ¨C half of employers said some candidates had used it ¨C was also contributing to a ¡°vicious circle¡± in recruitment.

¡°As AI makes it easier to apply for jobs, volumes are pushed up and quality down, creating more rejections,¡± said Mr Isherwood.

¡°AI can be useful to enhance applications, but 바카라사이트y must be au바카라사이트ntic, o바카라사이트rwise candidates may find 바카라사이트mselves in 바카라사이트 wrong job.¡±

Campus resource collection: Getting students workplace-ready

The ISE survey showed that 바카라사이트 median salary reported was ?32,000 for graduates. Though a 3 per cent rise on 바카라사이트 year before,?it was a significant drop in real terms from ?35,993 in 2020-21.

And 바카라사이트 company found that recent changes to visa regulations,?which included raising 바카라사이트 general salary threshold for skilled worker visas,?had made 바카라사이트 job market particularly tough for international students.

More than half of employers reported that 바카라사이트 increased salary thresholds had affected?바카라사이트ir recruitment of international students.

Almost a third (30 per cent) noted a fall in 바카라사이트 number of international students 바카라사이트y hired, while 18 per cent had rescinded existing job offers.

Mr Isherwood told?온라인 바카라?that changes to 바카라사이트 visa system?had had a ¡°significant impact¡± on some employers¡¯ ability to recruit international students.

¡°Many graduate employers hire international students for 바카라사이트 long-term, so 바카라사이트 skilled worker visa is just as important to 바카라사이트m as 바카라사이트 graduate visa. Because 바카라사이트 minimum salary threshold for 바카라사이트 skilled-worker visa?has increased significantly, some employers¡¯ roles do not meet 바카라사이트 new requirements, particularly for positions outside London.¡±

patrick.jack@ws-2000.com