Graduate recruitment in the UK has almost recovered from the 2007 recession, with vacancies set to hit a seven-year high, according to High Fliers market research.
The report on the UK’s graduate market looks at the recruitment plans of 100 of the UK’s biggest employers, including BP and Shell.
It finds that the companies plan to recruit around 18,000 graduates this year – an increase of 8.7% over 2013. However, Big Oil’s intake is set to fall sharply.
“This very significant increase in graduate vacancies at Britain’s top employers means the job prospects for graduates leaving university this year are the best they’ve been since the start of the recession seven years ago,” says High Fliers managing director Martin Birchall.
According to the report, those companies working in the engineering and industrial sectors say they plan to recruit 1,600 recent graduates in 2014, an annual increase of 11.3%.
This very nearly takes their recruitment back to levels not seen since the recession, falling short of the figures set in 2007 by just 1.3%.
The oil and energy sector, however, looks set to actually cut its intake of graduates by 4.7%, down to 526, and is still down by more than a quarter compared to its pre-recession recruitment levels. This is despite the industry claiming a massive skills shortage.
Last year, the High Fliers forecast was for 640 grads to go into oil and gas. The final tally for 2013 came in at 585,which was 5% up on the 2012 figure.
Despite levels of recruitment still being down in the oil sector, the report says that oil and energy companies are offering among the best starter salaries – an average of some £32,500 ($53,000).
The only companies to offer more than this are investment banks, law firms and banks.
The report also uncovers the increasing value of work experience and internship programmes to those looking to win a graduate position.
High Fliers notes that in both the oil and wider engineering sectors, a significant proportion of companies’ graduate intake will be drawn from those who have already worked for them in one form or another – such as summer placements and internships.
Around a quarter of graduates joining engineering firms are set to have already had contact with their employer, rising to over a third in the oil and energy sector.
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