Graduates' starting salaries rise

Citation

(2001), "Graduates' starting salaries rise", Education + Training, Vol. 43 No. 8/9. https://doi.org/10.1108/et.2001.00443hab.007

Graduates' starting salaries rise

Graduates' starting salaries riseKeywords: Graduates, Salaries, United Kingdom

The average starting salary for graduates is expected to rise by 4.1 percent, from £19,000 to £19,800, in 2001-02, according to the Association of Graduate Recruiters.

One in ten organizations plan to offer graduates more than £26,000. In the public sector, graduate trainees can expect to earn an average £19,500. Starting salaries are predicted to range from £14,500 to £38,000. The legal sector expects to pay the most, with an average starting salary of £26,000, followed by banking and finance, at £23,000. The lowest salaries are expected to be in the retail, hotel and catering industries (£18,000) and insurance (£18,375).

"Golden hellos" continue to prove popular among employers, particularly in the financial and legal sectors. Some 28 percent offer payments ranging from £500 to £10,000. Vacancies are predicted to rise by 14.6 percent overall. Only 18 percent of organizations do not expect to fill their vacancies, compared with over half in the previous two years. Carl Gilleard, association chief executive, said: "Considering the uncertainty about the state of the economy, this is extremely good news for graduates and also employers…But it is important to note that the graduate market is not buoyant in all sectors. This means that, depending on their aspirations, some graduates will find it easier to get the job they want than others."