1、The Graduate Market in 2023Annual review of graduate vacancies&starting salaries at the UKs leading employersProduced by High Fliers Research Produced by High Fliers Research Produced by:High Fliers Research LimitedThe Gridiron Building1 Pancras SquareLondon N1C 4AGTelephone 020 7428 9000Email surve

2、yshighfliers.co.ukWeb www.highfliers.co.uk All information contained in this report is believed to be correct and unbiased,but the publisher does not accept responsibility for any loss arising from decisions made upon this information.High Fliers Research Limited 2023.All rights reserved.No part of

3、this publication may be reproduced,stored in a retrieval system,or transmitted in any form or by any means,electronic,mechanical,photocopying or otherwise,without the prior permission of the publisher,High Fliers Research Limited.3The Graduate Market in 2023 Page Executive Summary 51.Introduction 7

4、Researching the Graduate Market About High Fliers Research The Times Top 100 Graduate Employers 2.Graduate Vacancies 9 Job Vacancies for Graduates Graduates Recruited in 2022 Applications to Employers&Diversity of Graduates Recruited in 2022 Graduate Vacancies in 2023 3.Graduate Starting Salaries 17

5、 Starting Salaries for Graduates Graduate Salaries in 2023 4.Graduate Recruitment in 2022-2023 21 Employers Graduate Recruitment Campaigns in 2022-2023 Graduate Recruitment Promotions in 2022-2023 Universities Targeted by Employers in 2022-2023 Graduate Applications Received in 2022-2023 ContentsHow

6、 are finalists from the Class of 2023 faring in the post-pandemic graduate job maket?Join our student research programme to find out.For nearly three decades,High Fliers Research has conducted detailed annual research into graduate recruitment at the UK universities,providing top employers with an u

7、nrivalled insight into the attitudes&aspirations of final year university students.The UK Graduate Careers Survey has been tracking students from the Class of 2023,to examine their career plans and expectations,their reactions to this years on-campus and virtual recruitment events&promotions,and the

8、ir applications for graduate jobs in 2023.Based on two rounds of in-depth research with final year students graduating in the summer of 2023 and interviews with up to 15,000 finalists conducted in February,the research programme provides graduate recruiters with a unique understanding of graduates l

9、eaving university this summer.To find out how your organisation can join over 70 national&international graduate employers and access the very latest research on the Class of 2023,email sally.hymanhighfliers.co.uk or tim.wisehighfliers.co.uk5The Graduate Market in 2023The Graduate Market in 2023 is

10、a study of the latest graduate vacancies and starting salaries at the UKs one hundred best-known and most successful employers,conducted by High Fliers Research during January 2023:Graduate recruitment at employers featured in The Times Top 100 Graduate Employers increased substantially in 2022,foll

11、owing a dramatic cut in graduate vacancies in 2020 at the start of the Coronavirus pandemic and a limited recovery in 2021.The number of graduates recruited in 2022 jumped by 14.5%,compared with graduate recruitment in 2021,the biggest-ever annual increase in graduate vacancies,taking graduate recru

12、itment to its highest level yet.The countrys top employers recruited 3,500 more graduates in 2022 than had been expected at the beginning of the 2021-2022 academic year and year-on-year graduate recruitment increased in eleven out of fifteen of the most sought-after industries&business sectors.In a

13、remarkable achievement,one of the Big Four accounting&professional services firms hired more than 2,300 new graduates in 2022 the most ever recruited by a single employer in the UK after recruiting fewer trainees than usual during the pandemic.On average,employers received 39 applications per gradua

14、te vacancy in 2022.The latest recruitment targets for the countrys leading employers show that the number of graduate jobs available in 2023 is expected to increase by a further 6.3%.This takes the number of graduate vacancies on offer to 16%above than the pre-pandemic peak in graduate recruitment r

15、ecorded in 2019.Accounting&professional services firms are expected to be the largest recruiters of new graduates in 2023,with a record 7,610 entry-level vacancies available for university-leavers.For the second year running graduate starting salaries at the UKs leading graduate employers are set to

16、 increase in 2023,to a new median starting salary of 33,500.This is an annual increase of 1,500,compared to the starting salaries paid to graduates in 2022 and a rise of 11.7%since 2020 when the median starting salaries at the countrys best-known graduate employers was 30,000.The most generous salar

17、ies in 2023 are those on offer from the investment banks(median of 55,000),law firms(median of 50,000)and consulting firms(median of 47,500).ForewordExecutive SummaryThe Graduate Market in 20236 The highest published graduate starting salaries for 2023 include law firms White&Case(52,000)and Allen&O

18、very,Baker McKenzie,Clifford Chance,Freshfields,Herbert Smith Freehills,Latham Watkins,Linklaters and Slaughter and May(each 50,000),technology company TPP and retailer Aldi(each 50,000).With graduate recruitment returning to a new normal at the start of the 2022-2023 academic year and the number of

19、 graduate vacancies continuing to rise,the majority of the UKs best-known employers opted to return to in-person events and university promotions for their graduate recruitment marketing.Feedback about on-campus presentations&skills events and in-person careers fairs was particularly positive,with u

20、p to two-fifths of employers who participated in them describing the events as very successful.Employers have increased the number of universities that they have actively marketed their graduate vacancies at during the 2022-2023 recruitment season,to an average of 27 universities.The ten universitie

21、s targeted by the largest number of top graduate employers in 2022-2023 are Manchester,Nottingham,Birmingham,Bristol,Warwick,Leeds,University College London,Cambridge,Durham and Southampton.Almost half of the UKs leading employers said they had received more graduate job applications during this rec

22、ruitment season,compared to last year.On average,applications for graduate vacancies have increased by 8%year-on-year,with more applicants in ten key industries and business sectors.7The Graduate Market in 2023Researching the Graduate MarketWelcome to The Graduate Market in 2023,the annual review of

23、 graduate vacancies and starting salaries at the UKs top employers,produced by High Fliers Research.This research,conducted during January 2023,provides a full assessment of graduate recruitment in 2022 and looks ahead to how many vacancies are available for new graduates in 2023.It also analyses th

24、e latest starting salaries on offer to new graduates,reviews the promotions employers have been using to publicise their vacancies during the 2022-2023 recruitment season,and the number of job applications employers have received so far.This is the 18th year that High Fliers Research has produced it

25、s independent assessment of the graduate job market.The research is based on a study of graduate recruitment at the organisations named as The Times Top 100 Graduate Employers for 2022 in a poll of 12,432 final year students to find“Which employer offers the best opportunities for graduates”.About H

26、igh Fliers ResearchEstablished in 1994,High Fliers Research is an independent market research company which specialises in student and graduate research.It has worked with more than 200 leading employers to measure the impact of their graduate recruitment campaigns on campus and help them understand

27、 their position in the graduate job market.The company is best-known for The UK Graduate Careers Survey,its comprehensive annual study of up to 15,000 final year undergraduates at thirty-two leading universities,which is supported and funded by up to 70 national and international employers each year

28、.The survey gives employers a unique insight into the career expectations and aspirations of final year students just weeks before they graduate and provides a definitive record of their search for a graduate job.High Fliers Research also hosts Graduate Careers Live!,a twice-yearly TV broadcast on t

29、he graduate job market and degree apprenticeships for Sixth Form students,their parents and careers staff,at schools&sixth form colleges across the UK.In 2020,High Fliers Research developed and launched the Top 100 Apprenticeship Employers for the National Apprenticeship Service,to celebrate and rec

30、ognise Englands leading apprenticeship employers.These prestigious new apprenticeship employer rankings are now produced annually by High Fliers Research for the Department for Education.Chapter 1IntroductionThe Graduate Market in 2020Annual review of graduate vacancies&starting salaries at the UKs

31、leading employersThe Graduate Market in 2021Annual review of graduate vacancies&starting salaries at the UKs leading employersProduced by High Fliers Research Produced by High Fliers Research The Graduate Market in 2022Annual review of graduate vacancies&starting salaries at the UKs leading employer

32、sProduced by High Fliers Research Produced by High Fliers Research The Graduate Market in 20238AccentureAirbusAldiAllen&OveryAmazonAmerican ExpressAonAppleArcadisArmyArupAstraZenecaAtkinsBAE SystemsBain&CompanyBaker MckenzieBank of AmericaBank of EnglandBarclaysBBCBDOBlackrockBloombergBMW GroupBosto

33、n Consulting GroupBPBTCitiCivil ServiceClifford ChanceClyde&CoCMSCredit SuisseDeloitteDeutsche BankDysonEnterprise Rent-a-carEversheds SutherlandEYFreshfields Bruckhaus DeringerFrontlineGCHQGoldman SachsGoogleGrant ThorntonGSKHerbert Smith FreehillsHogan LovellsHSBCHugh JamesIBMIrwin MitchellJaguar

34、Land RoverJane StreetJP MorganKPMGKubrickLOrealLatham&WatkinsLidlLinklatersLloyds Banking GroupLocal GovernmentMarsMcDonaldsMcKinsey&CoMi5-The Security ServiceMicrosoftMorgan StanleyMott MacdonaldNatwest GroupNewtonNHSPA ConsultingPenguin Random HousePepsicoPfizerPolice NowProcter&GamblePwCReed Smit

35、hRolls-RoyceRoyal NavySantanderSavillsShellSkySlaughter and MaySpecsaversTeach FirstTescoTHGThink AheadTiktokTPPUBSUnileverUnlockedVodafoneWhite&CaseThe Times Top 100 Graduate EmployersAs part of the research for The UK Graduate Careers Survey 2022,a total of 12,432 final year students from thirty l

36、eading universities were asked the unprompted question“Which employer do you think offers the best opportunities for graduates?”.Between them,finalists named over 900 different organisations during the survey the one hundred employers with the most student votes formed The Times Top 100 Graduate Emp

37、loyers for 2022.It is these employers that are included in the research for The Graduate Market in 2023 report:9The Graduate Market in 2023Job Vacancies for GraduatesThe first part of the research examines the number of graduates recruited by the UKs leading employers in 2022 and looks ahead to the

38、number of graduate jobs on offer from these organisations in 2023.These vacancies are typically positions with an autumn 2023 start date,promoted to final year university students during the current 2022-2023 academic year.The number of graduates recruited by the UKs best-known and most successful e

39、mployers dropped by almost a quarter during the global financial crisis and recession of 2008-2009.But in the decade that followed,there were eight annual rises in graduate recruitment,increasing the number of graduate vacancies available to university-leavers by more than 40 per cent between 2009 a

40、nd 2019(see Chart 2.1).The Graduate Market in 2021 report,published by High Fliers Research,confirmed that the Coronavirus pandemic brought this extended period of sustained growth in recruitment to an abrupt end and employers cut their graduate intake by more than 12 per cent in 2020,but graduate r

41、ecruitment re-bounded by over 9 per cent the following year.Chapter 2Graduate VacanciesChart 2.1 Changes to Graduate Vacancies at the UKs Top Employers 2008 to 2023201120122013 2014 2015 20162017 20182021 Source-The Graduate Market in 202320009 2010p 12.6%p 2.8%p 2.5%p 7.9%p 3.3%p 1.6%p 6

42、.2%p 9.4%p 4.3%q 17.8%q 6.7%q 0.8%q 4.9%q 12.3%2022p 14.5%2023p 6.3%The Graduate Market in 20231010Graduates Recruited in 2022The overall effect of the Coronavirus pandemic on graduate recruitment in 2019-2020 was that the UKs leading employers recruited 3,700 fewer graduates than originally planned

43、 in 2020 a drop of more than 12 per cent year-on-year,instead of the expected annual increase of 3 per cent.This was the largest annual drop in graduate recruitment for eleven years and the biggest shift in recruitment targets during a single academic year since 2008,the beginning of the global fina

44、ncial crisis and recession.Although the continuing pandemic meant considerable uncertainty for graduate employers at the beginning of the 2020-2021 recruitment round,the outlook gradually improved during the year and the final number of graduates recruited by the countrys top employers in 2021 was 9

45、.4 per cent higher than in 2020.As the 2021-2022 academic year began,employers published graduate recruitment targets were cautious and initially suggested that graduate vacancies were likely to be similar in 2022 to the numbers recruited in 2021.But by the mid-point in the recruitment season in Jan

46、uary 2022,considerable optimism had returned and employers expected that their graduate recruitment was likely to grow by an impressive 15 per cent in 2022.Recruitment targets in ten key industries&business sectors had increased since the start of the recruitment cycle,most notably at the top accoun

47、ting&professional services firms,technology companies,and engineering&industrial companies.Chart 2.2 Changes to Graduate Recruitment at the UKs Leading Employers in 2022Percentage of top graduate employers504020100Source-The Graduate Market in 2023Recruited the same number of graduates as in 202114%

48、30Recruited 100+graduates more than in 202112%Recruited 1-50 graduates more than in 202134%Recruited 1-50 graduates fewer than in 202117%Didnt recruit any graduates in 2022Recruited 100+graduates fewer than in 20214%Recruited 51-100 graduates more than in 202111%Recruited 51-100 graduates fewer than

49、 in 20216%2%11The Graduate Market in 2023Table 2.3 Analysis of Graduates Recruited in 2022,by Industry or Business Sector Industry or Business SectorAccounting&professional servicesArmed ForcesBanking&financeCharity&voluntary sectorChemicals&pharmaceuticalsConsultingConsumer goodsEngineering&industr

50、ialInvestment bankingLawMediaOil&energyPublic sectorRetailingTechnologyALL SECTORSRecruitment target for 2022,as published in Sept 20215,8001,1001,52501,9251,9808668551404,6901,3102,35524,378%change from recruitment in 2021p 31.5%p 1.9%p 21.7%p 3.0%q 23.8%p 36.1%p 9.8%p 30.5%p 7.9%p 14.8%

51、q 5.9%p 54.0%q 6.5%q 5.0%p 40.4%p 14.5%Vacancies added(cut),compared with 20211,856203023(30)8824617154130(47)54(299)(72)8563,865Actual graduates recruited by Dec 20227,7521,1001,6932,6422,1021,0107511544,3311,3682,97528,107Recruitment target for 2022,as revised in Jan 20227,4241,1001,654

52、951443102732,4102,0058929201384,7481,6172,94428,411 Source-The Graduate Market in 2023By the summer of 2022,graduate recruitment targets at many well-known employers had been increased further,as employers sought to make up for the reduced number of graduates hired over the previous two years.This l

53、atest research confirms that by the end of the graduate recruitment round for 2022,the UKs top employers had recruited 3,500 more graduates than had been expected at the start of the 2021-2022 academic year.The number of graduates recruited was 14.5 per cent higher than in 2021,taking graduate recru

54、itment to its best-ever level,almost 10 per cent above the pre-pandemic peak in recruitment recorded in 2019(see Chart 4.1 on page 9).A total of fifty-seven of the countrys top employers increased the number of graduates recruited in 2022,compared with the previous years recruitment(see Chart 2.2).G

55、raduate recruitment was higher in eleven out of fifteen industries and business sectors featured in the research in 2022(see Table 2.3).The largest rises were at accounting&professional services firms,technology companies,and engineering&industrial companies,which together recruited over 3,000 more

56、graduates than in 2021.One of the Big Four accounting&professional services firms hired more than 2,300 new graduates in 2022 the highest-ever number of graduates recruited by an individual employer in the UK as it made up for the under-recruitment of trainees during the pandemic.The Graduate Market

57、 in 202312Applications to Employers&Diversity of Graduates Recruited in 2022The considerable disruption that the Coronavirus pandemic brought to both the 2020 and 2021 graduate recruitment rounds inevitably resulted in very dramatic fluctuations in application levels for graduate vacancies at the UK

58、s leading employers.Graduate recruitment returned to a more normal basis during 2021-2022 and employers received an average of 39 applications per graduate vacancy(see Table 2.4)a very similar level to 2018 and 2019,before the onset of the pandemic.The most oversubscribed graduate programmes were th

59、ose offered by consumer goods and oil&energy companies,where more than a hundred graduates competed for each available position.Graduate employers with lower application rates include engineering&industrial companies,accountancy&professional services firms and public sector organisations.Employers r

60、eceived an average of 12,300 applications for their programmes in 2021-2022.In addition to recording application numbers,employers were also asked about the profile of the graduates recruited in 2022.It should be noted that whilst almost every employer taking part in the research stressed that diver

61、sity&inclusion was one of their highest priorities,they were only able to provide limited data about their 2022 cohort for this analysis.So although most employers gave details of graduates gender,only half supplied data on the ethnic background of their graduates,just a third had information on gra

62、duates with disabilities or learning difficulties,and fewer than a quarter had recorded graduates sexual orientation or identity,or knew whether they were from a low income background.From the information that was supplied by employers,52 per cent of graduates recruited in 2022 by the countrys top e

63、mployers are male,48 per cent are female and fewer than one per cent are non-binary(see Chart 2.5).Two fifths of graduates are black,Asian or minority ethnic,one in ten have learning difficulties or disabilities,13 per cent are LGBTQ+,and one in five graduates are from low-income families.The resear

64、ch also confirmed that a quarter of graduates had been recruited through employers work experience programmes and that more than half had studied at Oxford,Cambridge or another Russell Group university.Industry or Business SectorAccounting&professional servicesBanking&financeChemical&pharmaceuticals

65、ConsultingConsumer goodsEngineering&industrialInvestment bankingTable 2.4 Graduate Job Applications to the UKs Top Employers in 2021-2022Average applications per employer in 2021-2022 30,20013,2001,7008,2006,80010,80026,400Averageapplications per graduate vacancy in 2021-2022 29.559.160.576.0357.133

66、.390.0 Industry or Business SectorLawMediaOil&energyPublic sectorRetailingTechnologyALL SECTORSAverage applications per employer in 2021-20222,9009,3009,60010,4007,00013,50012,300Averageapplications per graduate vacancy in .149.1124.821.167.341.539.3 Source-The Graduate Market in 202313Th

67、e Graduate Market in 2023Chart 2.5 Diversity of Graduates Recruited by the UKs Top Employers in 2022 Source-The Graduate Market in 2023Percentage of graduates recruited by top employers0Black12%OtherMixedAsian23%Ethnic Background56%WhiteLearning difficulty or disability9%DisabilitesLGBTQ+

68、13%Sexual Orientation&IdentityLow-income family20%Social MobilityOther Russell Group university46%Non-Russell Group university49%Oxford or CambridgeUniversityRecruited via internship or other work placement24%Work Experience5%3%Female48%Male52%GenderNon-binary1%5%The Graduate Market in 202314Expecte

69、d Graduate Vacancies in 2023At the start of the new 2022-2023 graduate recruitment cycle in September 2022,the post-pandemic economic outlook had worsened considerably,with the Bank of England predicting that the UK economy could face a prolonged recession during 2023.As a result,employers initial r

70、ecruitment targets for the year ahead were pessimistic,compared with graduate recruitment during 2021-2022.This,combined with the proposed pausing of the Civil Service Fast Streams 2023 intake,suggested that there would be 6 per cent fewer vacancies for graduates leaving university in the summer of

71、2023.The latest assessment of graduate recruitment at the UKs top graduate employers shows that sentiment has improved over the past six months and there has been a noticeable increase in the number of graduates vacancies on offer in 2023(see Table 2.8).The Civil Service Fast Stream has gone ahead w

72、ith recruitment for its 2023 intake and graduate vacancies in seven key industries&business sectors have been stepped-up since the start of the recruitment cycle,most notably at the top accounting&professional services fir ms and other public sector employers,which have added more than 2,500 extra e

73、ntry-level positions.Three-fifths of employers are now planning to recruit more graduates in 2023(see Chart 2.6)and the median number of graduate vacancies available for university-leavers is 150 per employer(see Chart 2.7).Employers in a total of eleven industries&business sectors featured in the r

74、esearch expect to increase or maintain their graduate recruitment in 2023 and together,they expect to increase their graduate vacancies by 6.3 per cent.Chart 2.6 Changes to Graduate Vacancies at the UKs Leading Employers in 2023Percentage of top graduate employers504020100Source-The Graduate Market

75、in 2023Recruiting the same number of graduates as in 202229%30Recruiting 100+graduates more than in 202212%Recruiting 1-50 graduates more than in 202223%Recruiting 1-50 graduates fewer than in 202217%Not recruiting any graduates in 2023Recruiting 100+graduates fewer than in 20224%Recruiting 51-100 g

76、raduates more than in 20229%Recruiting 51-100 graduates fewer than in 20225%1%15The Graduate Market in 2023Table 2.8 Analysis of Graduate Vacancies in 2023,by Industry or Business Sector Industry or Business SectorAccounting&professional servicesArmed ForcesBanking&financeChemicals&pharmaceuticalsCo

77、nsultingConsumer goodsEngineering&industrialInvestment bankingLawMediaOil&energyPropertyPublic sectorRetailingTechnologyALL SECTORS%change from recruitment in 2022p 6.0%NO CHANGEq 9.6%p 5.0%p 3.7%NO CHANGEp 33.7%p 2.6%q 5.3%q 4.9%p 56.5%NO CHANGEp 11.3%q 3.6%NO CHANGE p 6.3%Recruitment target for 20

78、23,as revised in Jan 20237,6101,1001,6661055001683,5552,4121,0206812411604,8221,4063,00429,800Vacancies added(cut),compared with 2022428-(177)518-89760(57)(35)870491(52)-1,745Recruitment target for 2023,as published in Sept 20226,0751,1001,7901454851902,5102,3201,0379201701503,7201,9163,10026,428 So

79、urce-The Graduate Market in 2023Chart 2.7 Graduate Vacancies at the UKs Top Employers in 2023Recruiting 101-250 graduates29%Recruiting 500+graduates 16%Recruiting 251-500 graduates14%Recruiting 51-100 graduates15%Percentage of top graduate employers50402010030Recruiting 1-50 graduates25%Median-150 v

80、acancies Source-The Graduate Market in 2023No graduate vacancies in 20231%The Graduate Market in 202316Summary&Conclusions Graduate recruitment at employers featured in The Times Top 100 Graduate Employers increased substantially in 2022,following a dramatic cut in graduate vacancies in 2020 at the

81、start of the Coronavirus pandemic and a limited recovery in 2021.The number of graduates recruited in 2022 jumped by 14.5%,compared with graduate recruitment in 2021,the biggest-ever annual increase in graduate vacancies,taking graduate recruitment to its highest level yet.The countrys top employers

82、 recruited 3,500 more graduates in 2022 than had been expected at the beginning of the 2021-2022 academic year and year-on-year graduate recruitment increased in eleven out of fifteen of the most sought-after industries&business sectors.In a remarkable achievement,one of the Big Four accounting&prof

83、essional services firms hired more than 2,300 new graduates in 2022 the most ever recruited by a single employer in the UK after recruiting fewer trainees than usual during the pandemic.On average,employers received 39 applications per graduate vacancy in 2022.The latest recruitment targets for the

84、countrys leading employers show that the number of graduate jobs available in 2023 is expected to increase by a further 6.3%.This takes the number of graduate vacancies on offer to 16%above than the pre-pandemic peak in graduate recruitment recorded in 2019.Accounting&professional services firms are

85、 expected to be the largest recruiters of new graduates in 2023,with a record 7,610 entry-level vacancies available for university-leavers.17The Graduate Market in 2023Chapter 3Graduate Starting SalariesStarting Salaries for GraduatesThe second part of the research examines the starting salaries tha

86、t the UKs top employers are preparing to pay new graduates who are due to join their organisations in 2023,compared with the salaries paid to graduate recruits who began work in 2022.The starting salaries quoted are generally the average national salaries that have been promoted by employers during

87、the 2022-2023 recruitment round.The figures do not include additional benefits such as relocation allowances,regional weighting,subsidised company facilities or bonus schemes.Graduate starting salaries at the countrys leading employers rose each year until 2010 but in the decade that followed the en

88、d of the global financial crisis,pay for university-leavers remained largely unchanged(see Chart 3.1).There were only two annual rises in graduate starting salaries over this period in 2014 and in 2015 and the median starting salary for new graduates increased by just 1,000 between 2010 and 2021,rem

89、aining at 30,000 for seven years running.This extended period of stability for graduate starting salaries coincided with a lengthy period of low inflation in the UK and austerity in the public sector,following the recession of 2008 and 2009.With the number of graduates leaving university continuing

90、to far outstrip the number of graduate vacancies available at the countrys top employers during this period,there was little market pressure for employers to improve their graduate starting salaries.Chart 3.1 Graduate Starting Salaries at the UKs Top Employers 2008 to 2023201120122013 2014 2015 2016

91、201720182021 Source-The Graduate Market in 202320009 2010202225,50027,00029,00029,00029,00029,00029,50030,00030,00030,00030,00030,00030,00030,00032,000202333,500The Graduate Market in 202318Graduate Starting Salaries in 2023For the second consecutive year,the median graduate starting sala

92、ry on offer from the UKs leading employers is expected to rise to 33,500 in 2023.This is an increase of 1,500 compared to the median salary paid to new graduates in 2022 and means that graduate pay has risen by 11.7%in the past two years.There are nine employers at the very top of the market that ar

93、e offering graduate starting salaries in excess of 50,000 this year,whereas just one employer has a starting salary of 20,000 or less(see Chart 3.2).Analysis of the starting salaries paid for individual roles shows that a sixth of graduate jobs at the countrys leading employers now have initial sala

94、ries of 40,000 or more.Over half of employers included in the research are increasing their graduate pay this year most by up to 10.0 per cent compared with 2022(see Chart 3.3)but a fifth are offering more generous increases.Two-fifths of employers are not planning to change their starting salaries

95、and four organisations have reduced the starting salaries for this years new recruits.Among the highest-paying sectors for new graduates,investment banking now offers a median starting salary of 55,000(see Chart 3.4),the median salary for trainee solicitors at the countrys top law firms is 50,000,an

96、d the graduate pay at the leading strategy consulting firms is 47,500.Beyond the City and the legal sector,this years highest published starting salaries are at retailer Aldi where the starting salary for graduates joining its popular trainee area manager programme has jumped to 50,000 in 2023 and t

97、echnology company TPP which also offers new graduates salaries of up to 50,000.It is interesting to note that if the median starting salary of 29,000 paid by employers a decade ago had kept pace with inflation over the past ten years,it would now be worth approximately 39,000 some 5,500 more than th

98、is years median pay for new graduates.20,001-25,0006%25,001-30,00022%Chart 3.2 Graduate Starting Salaries at leading UK Employers in 202330,001-35,00023%20,000 or less1%35,001-40,00016%More than 50,0009%Median Salary-33,50040,001-50,00023%Source-The Graduate Market in 2023Percentage of top graduate

99、employers4020100305019The Graduate Market in 2023Chart 3.4 Graduate Salaries at the UKs Top Employers in 2023,by Sector or IndustryMedian starting salaries20,000Investment banking55,00025,00040,00045,00055,000Law50,000Banking&finance40,000Consulting47,500Public sector26,400Armed Forces28,300Oil&ener

100、gy 35,000Chemical&pharmaceuticals32,000Accounting&professional services35,000Media27,50035,00050,000Engineering&industrial29,000Retailing 37,000Consumer goods32,00030,000Chart 3.3 Changes to Graduate Starting Salaries at leading UK Employers in 2023Reduction in salaries4%No change in salaries39%Perc

101、entage of top graduate employers50402010030More than a 10.0%rise in salaries21%Up to a 10.0%rise in salaries Source-The Graduate Market in 202315%36%Source-The Graduate Market in 2023Media27,500The Graduate Market in 202320Summary&Conclusions For the second year running graduate starting salaries at

102、 the UKs leading graduate employers are set to increase in 2023,to a new median starting salary of 33,500.This is an annual increase of 1,500,compared to the starting salaries paid to graduates in 2022 and a rise of 11.7%since 2020 when the median starting salaries at the countrys best-known graduat

103、e employers was 30,000.The most generous salaries in 2023 are those on offer from the investment banks(median of 55,000),law firms(median of 50,000)and consulting firms(median of 47,500).The highest published graduate starting salaries for 2023 include law firms White&Case(52,000)and Allen&Overy,Bak

104、er McKenzie,Clifford Chance,Freshfields,Herbert Smith Freehills,Latham Watkins,Linklaters and Slaughter and May(each 50,000),technology company TPP and retailer Aldi(each 50,000).21The Graduate Market in 2023Chapter 4Graduate Recruitment in 2022-2023Employers Graduate Recruitment Campaigns in 2022-2

105、023 The final part of the research examines how the UKs leading employers are approaching their graduate recruitment campaigns in 2022-2023 from the promotions they are using to publicise their graduate programmes and their recruitment priorities,to the universities they are targeting for their recr

106、uitment and the volume and quality of graduate applications received so far.Twelve years ago,the global financial crisis and recession in 2008 and 2009 had a very substantial impact on the resources available to the UKs leading graduate recruiters and The Graduate Market in 2010 report confirmed tha

107、t recruitment budgets at almost half of the countrys top graduate employers were cut that year.In the decade since,spending on recruiting new graduates has varied considerably but as recruitment targets rose in 2011,again from 2014 to 2016,and once more from 2018 to 2020,the proportion of employers

108、with larger recruitment budgets increased accordingly(see Chart 4.1).With graduate recruitment targets cut significantly as a result of the pandemic in 2021,budgets were dramatically reduced accordingly.But a third of employers increased their spending as graduate recruitment recovered in 2022 and b

109、udgets have risen at more than a quarter of the countrys top graduate employers in 2023(see Chart 4.2 overleaf).Chart 4.1 Employers with increased annual Graduate Recruitment Budgets 2008-2023 Source-The Graduate Market in 2023200825%200922%201013%201133%201221%201314%201427%201524%201628%201717%201

110、823%201923%202018%20218%202232%202326%The Graduate Market in 202322Graduate Recruitment Promotions in 2022-2023The onset of the Coronavirus crisis in March 2020 meant that the UKs leading graduate employers were unable to host their usual programme of on-campus recruitment events at universities aro

111、und the country and moved almost all of their graduate recruitment marketing and promotions online for the 2020-2021 academic year.With uncertainty about the pandemic remaining at the beginning of the 2021-2022 graduate recruitment season,most employers took the decision to continue to use virtual e

112、vents and online publicity,rather than return to on-campus recruitment events and promotions.The 2022-2023 academic year has seen many well-known graduate employers return to UK universities to take part in a range of on-campus events and recruitment promotions,often for the first time in three year

113、s.But a significant proportion of the countrys top employers have opted to carry on using the virtual recruitment events and online publicity that proved effective during the pandemic.Almost all employers arranged promotions through local university careers services for their graduate recruitment ca

114、mpaign in 2022-2023.During the year,three quarters of employers hosted on-campus presentations or skills events and a similar proportion attended in-person local careers fairs at universities,but more than four-fifths provided online presentations and skills sessions and three-fifths took part in vi

115、rtual careers fairs(see Table 4.3).It is noticeable that a much higher proportion of employers described the on-campus events they had held as very successful,compared to their online or virtual events.One graduate recruiter from a well-known retailer commented:“Students have been very engaged with

116、in-person careers fairs this season and seem to be pleased that employers are back onsite rather than just relying on virtual experiences.”And a recruiter at an investment bank was impressed by the impact of on-campus careers fairs:“We took a new approach this year to attend fairs at our target univ

117、ersities,where wed usually just host presentations and dinners etc,but we found that being at fairs meant many students who wouldnt normally be interested in banking came and asked questions.”Chart 4.2 Employers Graduate Recruitment Budgets for 2022-2023Budget has increased a little22%Budget is simi

118、lar to last year59%Budget has decreased a little8%Percentage of top graduate employers0Budget has increased considerablyBudget has decreased considerably Source-The Graduate Market in 20234%7%23The Graduate Market in 2023Feedback from employers suggests the return to on-campus events wasn

119、t always straightforward.A graduate recruiter from a banking&finance employer commented:“We faced challenges this recruitment season that are new,such as increased costs on almost all aspects of recruiting and unfamiliarity of how events on campus work,for both suppliers and students.”And one of the

120、 leading law firms felt that universities could have done more to encourage students to make the most of on-campus events:“Careers services and universities are not the strong supporters in terms of rallying activities and thinking creatively that they used to be.Its been very challenging in terms o

121、f event attendance and harder than anticipated to reach students en-mass.”Nearly all the UKs top graduate employers have made good use of social media this year,with over a quarter of recruiters describing these promotions as very successful.Almost nine out of ten employers have used promotions on c

122、ommercial graduate recruitment websites(such as TARGETJobs,Bright Network and Gradcracker)to publicise their recruitment programmes and four-fifths advertised in graduate directories(such as The Times Top 100 Graduate Employers and UK 300).Employers have been similarly-reliant on the email services

123、provided by recruitment websites and publishers.With the increased emphasis on in-person,on-campus events during the 2022-2023 academic year,three-fifths of the UKs top graduate employers sponsored student societies and clubs during and half recruited their own network of student brand managers to p

124、ublicise their graduate and work experience programmes to fellow students.The majority of employers who used these communication channels found them effective this year.Table 4.3 Analysis of Employers Graduate Recruitment Promotions in 2022-2023 Graduate Recruitment PromotionPromotions on social med

125、ia Promotions through university careers servicesPromotions on graduate recruitment websites Email services Online presentations or skills events Advertising in graduate careers directories On-campus presentations or skills events In-person careers fairs held on-campus Virtual careers fairs run by c

126、ommercial providers Virtual careers fairs run by universities Sponsorship of societies,clubs&sports teamsCampus brand managers or ambassadorsPromotion was Very Successful%2763824152435Promotion wasNot Very Successful%8717381312Promotion was Quite Successful%656766737

127、6353%of employers that used promotion during 858480757062605851 Source-The Graduate Market in 2023The Graduate Market in 202324Universities Targeted by Employers in 2022-2023 A key impact of the Coronavirus pandemic and the switch to fully-online graduate recruitment marketing in the

128、2020-2021 recruitment season was that a significant minority of the UKs graduate employers stopped targeting specific universities.This continued into the 2021-2022 academic year,with one in six recruiters taking a national or sector-led approach to their graduate recruitment,rather than focusing th

129、eir promotions at individual local universities.During the 2022-2023 recruitment season,with many top employers back on-campus for in-person recruitment events and promotions,targeting of specific universities has increased and the number of institutions included in employers targeting has risen too

130、 from an average of 21 universities in 2020-2021 to 27 universities in 2022-2023(see Chart 4.4).Accounting&professional services firms,public sector employers and retailers have actively publicised their graduate vacancies at the largest number of local universities(see Chart 4.5).The five universit

131、ies currently targeted by the largest number of the UKs leading graduate employers are Manchester,Nottingham,Birmingham,Bristol and Warwick(see Table 4.6).These institutions have attracted the most top graduate employers for university careers fairs,on-campus employer presentations,university-specif

132、ic virtual events,careers service promotions and initiatives,and other locally-run publicity during 2022-2023.It is interesting that this list of universities bears little resemblance to The Times&Sunday Times Good University Guide 2023,the latest league table compiled from a range of institutional

133、data.The three universities most-often targeted by the UKs leading graduate employers Manchester,Nottingham and Birmingham are only ranked in 24th,30th and 20th place respectively in the Good University Guide.And whilst St Andrews is currently in 2nd place in the guide,it doesnt appear amongst emplo

134、yers top twenty universities.Chart 4.4 Number of Universities Targeted by Top Employers in or fewer universities9%11-15 universities8%16-20 universities15%Not targeting universities Percentage of top graduate employers5040201003026-30 universities9%31-35 universities16%21-25 universities

135、18%More than 35 universities17%Average-27 universities Source-The Graduate Market in 20238%25The Graduate Market in 2023Table 4.6 Universities Targeted by Largest Number of Top Employers in 2022-2023ManchesterNottinghamBirminghamBristolWarwickLeedsLondon University CollegeCambridgeDurhamSouthampton1

136、.2.3.4.5.6.7.8.9.10.Ranking in Good University Guide*2430201592373616OxfordLondon Kings CollegeExeterLondon School of EconomicsEdinburghBathLondon Imperial CollegeLondon Queen MarySheffieldGlasgow 11.12.13.14.15.16.17.18.19.20.Ranking in Good University Guide*62114 Source-The Graduate Mar

137、ket in 2023*The Times&Sunday Times Good University Guide 2023Chart 4.5 Universities Targeted by Top Employers in 2022-2023,by Sector or IndustryAverage number of universities targeted by top graduate employers in sector0Accounting&professional services35 universities2050Chemicals&pharmaceuticals21 u

138、niversitiesRetail30 universitiesInvestment banking 27 universitiesTechnology25 universitiesMedia29 universitiesLaw28 universitiesPublic sector34 universitiesBanking&finance18 universitiesEngineering&industrial22 universitiesOil&energy 20 universitiesConsumer goods 24 universities103040 Source-The Gr

139、aduate Market in 2023Consulting17 universitiesThe Graduate Market in 202326Graduate Job Applications in 2022-2023 At the start of Coronavirus pandemic,a sharp reduction in graduate recruitment meant that many graduates from the Class of 2020 were unable to start their first graduate job after univer

140、sity and instead applied for places on employers 2021 graduate programmes.As a result,graduate applications to the UKs top employers jumped by an unprecedented 41 per cent during the 2020-2021 recruitment season.But a year later,many employers reported a drop in applicants,with graduate applications

141、 decreasing by an average of 7 per cent in the first half of the 2021-2022 recruitment round.So far in the current recruitment season,almost half of the countrys top graduate employers have seen their applications increase,some by as much as 50 per cent year-on-year(see Chart 4.7).A third of employe

142、rs have maintained their application numbers so far this year,but up to fifth are reporting a decrease in applications.On average,employers have seen applications rise by 8 per cent in 2022-2023.Chart 4.7 Graduate Job Applications made to the UKs Top Employers in 2022-2023Increased by 26%to 50%10%In

143、creased by 11%to 25%19%Increased by up to 10%11%Average-8%increaseIncreased by over 50%16%Decreased a littleApplications are similar to last year61%Source-The Graduate Market in 2023Decreased by up to 10%8%Percentage of top graduate employers0Number of ApplicationsQuality of ApplicationsA

144、pplications are similar to last year36%Increased a little18%Increased considerably4%Decreased by over 25%4%Decreased by 11%to 25%6%Decreased considerably1%6%27The Graduate Market in 2023Graduate applications have risen in a total of ten individual industries and business sectors with the biggest inc

145、reases at consulting firms,graduate employers in the banking&finance sector and technology companies(see Chart 4.8).Just two sectors reported an decrease in graduate applications this year retailing and the public sector whilst application levels are unchanged at consumer goods companies and the Arm

146、ed Forces.Over four-fifths of employers felt that the quality of the applications theyve received so far for their graduate programmes was similar to last year or better.A fifth said that the quality of applications had increased,either a little or considerably(see Chart 4.7).Seventeen organisations

147、 were worried that the quality of their graduate applicants had decreased,compared to the 2021-2022 recruitment season.Chart 4.8 Change in Applications to Employers in 2022-2023,by Sector or IndustryAverage change in graduate applications in 2022-2023,compared with Investment BankingUp

148、7%10200 Source-The Graduate Market in 2023Public SectorDown 7%Armed ForcesNO CHANGEConsumer GoodsNO CHANGEConsultingUp 27%Banking&FinanceUp 25%TechnologyUp 13%LawUp 9%Engineering&IndustrialUp 9%Oil&EnergyUp 9%Chemical&PharmaceuticalsUp 9%Accounting&Professional ServicesUp 7%1020RetailDown 5%MediaUp

149、4%The Graduate Market in 202328Summary&Conclusions With graduate recruitment returning to a new normal at the start of the 2022-2023 academic year and the number of graduate vacancies continuing to rise,the majority of the UKs best-known employers opted to return to in-person events and university p

150、romotions for their graduate recruitment marketing.Feedback about on-campus presentations&skills events and in-person careers fairs was particularly positive,with up to two-fifths of employers who participated in them describing the events as very successful.Employers have increased the number of un

151、iversities that they have actively marketed their graduate vacancies at during the 2022-2023 recruitment season,to an average of 27 universities.The ten universities targeted by the largest number of top graduate employers in 2022-2023 are Manchester,Nottingham,Birmingham,Bristol,Warwick,Leeds,Unive

152、rsity College London,Cambridge,Durham and Southampton.Almost half of the UKs leading employers said they had received more graduate job applications during this recruitment season,compared to last year.On average,applications for graduate vacancies have increased by 8%year-on-year,with more applicants in ten key industries and business sectors.