1、The Graduate Market in 2024Annual 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 2024.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 2024 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 2023 Graduate Vacancies in 2024 3.Graduate Starting Salaries 15 Starting Salaries for Graduates Graduate Salaries in 2024 4.Gradua

5、te Recruitment in 2023-2024 19 Employers Graduate Recruitment Graduate Recruitment Promotions&Selection Processes in 2023-2024 Universities Targeted by Employers in 2023-2024 Graduate Job Applications in 2023-2024ContentsWhat do finalists from the Class of 2024 expect from todays graduate job market

6、?Join our student research programme to find out.For three decades,High Fliers Research has conducted detailed annual research into graduate recruitment at the UK universities,providing top employers with an unrivalled insight into the attitudes&aspirations of final year university students.The UK G

7、raduate Careers Survey has been tracking students from the Class of 2024,to examine their career plans and expectations,their reactions to this years on-campus and virtual recruitment events&promotions,and their applications for graduate jobs in 2024.Based on two rounds of in-depth research with fin

8、al year students graduating in the summer of 2024 and interviews with over 14,000 finalists conducted in February,the research programme provides graduate recruiters with a unique understanding of graduates leaving university this summer.To find out how your organisation can join over 60 national&in

9、ternational graduate employers and access the very latest research on the Class of 2024,email sally.hymanhighfliers.co.uk or tim.wisehighfliers.co.uk5The Graduate Market in 2024The Graduate Market in 2024 is a study of the latest graduate vacancies and starting salaries at the UKs one hundred best-k

10、nown and most successful employers,conducted by High Fliers Research during January 2024:Graduate recruitment at employers featured in The Times Top 100 Graduate Employers decreased unexpectedly in 2023,following a sharp increase in graduate vacancies in both 2021 and 2022 as employers sought to com

11、pensate for lower-than-usual recruitment during the Coronavirus pandemic.Instead of the predicted rise in graduate vacancies of 6.3%,the number of graduates recruited in 2023 actually fell by 6.4%year-on-year,with over 3,500 planned graduate vacancies cut or left unfilled.Almost half the countrys to

12、p graduate employers reduced their graduate intake in 2023,compared to the previous year,and recruitment fell in ten out of fifteen key industries&business sectors.The biggest reductions in graduate vacancies were at the leading accounting&professional services firms,retailers,investment banks,the A

13、rmed Forces and technology companies.The latest recruitment targets for the UKs best-known graduate employers remain cautious and show that the level of graduate vacancies available in 2024 is expected to increase by a modest 1.5%.Further reductions in the number of trainees recruited by accounting&

14、professional services firms are expected,but graduate vacancies are set to increase significantly at engineering&industrial employers,with extra opportunities for graduates available in the public sector too.For the third year running graduate starting salaries at the UKs leading graduate employers

15、are set to increase in 2024,to a new median starting salary of 34,000.This is an annual increase of 500,compared to the starting salaries paid to graduates in 2023 and represents a rise of 13.3%since 2020 when the median starting salary at the countrys best-known graduate employers was 30,000.The mo

16、st generous salaries in 2024 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 2024 include international law firms White&Case(52,000)and Allen&Overy,Baker McKenzie,Cli

17、fford Chance,Freshfields,Herbert Smith Freehills,Latham Watkins,Linklaters and Slaughter and May(each 50,000),and retailer Aldi(50,000).ForewordExecutive SummaryThe Graduate Market in 20246 The UKs top graduate employers have used a wide range of different promotions to publicise their graduate vaca

18、ncies during the 2023-2024.More than four-fifths of employers have taken part in on-campus careers fairs and three-quarters have hosted their own recruitment presentations&skills training events at local universities during the year.Over half of employers have made use of campus brand ambassadors to

19、 promote their graduate recruitment and two-fifths have sponsored student societies,clubs or sporting teams.The countrys top graduate employers have targeted an average of 27 universities during the 2023-2024 recruitment season.The ten universities targeted by the largest number of leading graduate

20、employers in 2023-2024 are Birmingham,Manchester,Nottingham,Leeds,Bristol,Warwick,University College London,Southampton,Durham and Exeter.There has been a surge in the number of applications to employers this year,with three-fifths of recruiters reporting a rise in applicants and some seeing more th

21、an double the number of applications received in 2023.On average,applications for graduate vacancies have increased by 27%year-on-year,with more applicants in twelve out of fourteen key industries and business sectors.7The Graduate Market in 2024Researching the Graduate MarketWelcome to The Graduate

22、 Market in 2024,the annual review of graduate vacancies and starting salaries at the UKs top employers,produced by High Fliers Research.This research,conducted during January 2024,provides a full assessment of graduate recruitment in 2023 and looks ahead to how many vacancies are available for new g

23、raduates in 2024.It also analyses the latest starting salaries on offer to new graduates,reviews the promotions employers have been using to publicise their vacancies during the 2023-2024 recruitment season,and the number of job applications employers have received so far.This is the nineteenth year

24、 that High Fliers Research has produced its independent annual 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 2023 in a nationwide poll of 13,309 final year students to find“Which e

25、mployer offers the best opportunities for graduates”.About High Fliers ResearchEstablished in 1994,High Fliers Research is an independent market research company which specialises in student and graduate research.Over the past three decades,it has worked with more than 200 leading employers to measu

26、re the impact of their graduate recruitment campaigns on campus and help them understand 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 leading universities,whic

27、h is commissioned and funded by up to sixty national and international employers each year.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 j

28、ob.High Fliers Research has also hosted Graduate Careers Live!,a twice-yearly TV broadcast on the 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 th

29、e Top 100 Apprenticeship Employers and Top 50 SME Apprenticeship Employers for the Department for Education,to celebrate and recognise Englands leading apprenticeship employers large and small.These prestigious new apprenticeship employer rankings are now produced annually by High Fliers Research.Ch

30、apter 1IntroductionThe Graduate Market in 2022Annual 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 In association withThe UK Graduate Careers Survey 2023Volume One Graduate

31、 Recruitment ResearchThe Graduate Market in 20248AccentureAECOMAirbusAldiAllen&OveryAmazonAonAppleArcadisArupAstraZenecaAtkins RalisAvivaBAE SystemsBain&CompanyBaker MckenzieBank of AmericaBank of EnglandBarclaysBBCBCGBDOBlackRockBloombergBPBritish AirwaysBritish ArmyBTCancer Research UKCapgeminiCha

32、nnel 4CitiCivil ServiceClifford ChanceClyde&CoCMSDeloitteDeutsche BankDLA PiperDysonEnterprise MobilityEYFreshfields Bruckhaus DeringerFrontlineGoldman SachsGoogleGrant ThorntonGSKHerbert Smith FreehillsHogan LovellsHSBCIBMJacobsJane StreetJLRJohnson&JohnsonJ.P.MorganKPMGKubrickLOralLatham&WatkinsLi

33、dlLinklatersLloyds Banking GroupLocal GovernmentMarks&SpencerMarsMazarsMcDonaldsMcKinsey&CompanyMercedes BenzMI5-The Security ServiceMicrosoftMorgan StanleyMott MacdonaldNatwest GroupNewtonNHSPenguin Random HousePfizerPolice NowProcter&GamblePwCRolls-RoyceRoyal NavySantanderSavillsSecret Intelligenc

34、e Service(MI6)ShellSiemensSkySlaughter and MayTeach FirstTescoUBSUnilever Unlocked Vodafone White&CaseWSPThe Times Top 100 Graduate EmployersAs part of the research for The UK Graduate Careers Survey 2023,a total of 13,309 final year students from thirty leading universities were asked the unprompte

35、d question“Which employer do you think offers the best opportunities for graduates?”.Between them,finalists named more than 1,500 different organisations during the survey the one hundred employers with the most student votes formed The Times Top 100 Graduate Employers for 2023.It is these employers

36、 that are included in the research for The Graduate Market in 2024 report:9The Graduate Market in 2024Job Vacancies for GraduatesThe first part of the research examines the number of graduates that were recruited by the UKs leading employers in 2023 and looks ahead to the number of graduate jobs on

37、offer from these organisations in 2024.These vacancies are typically positions with an autumn 2024 start date,promoted to final year university students during the current 2023-2024 academic year.The number of graduates recruited by the UKs best-known and most successful employers dropped by almost

38、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 and 2019(see Chart 2.1).The

39、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.Graduate employment re-bounded strongly the following year with an increase in vacancies of over 9 per cent and again in 2022

40、,when recruitment jumped by a further 14 per cent.Chapter 2Graduate VacanciesChart 2.1 Changes to Graduate Vacancies at the UKs Top Employers 2009 to 202420122013 2014 2015 2016 2017 2018 20192022 Source-The Graduate Market in 202420202009202120102011p 12.6%p 2.8%p 2.5%p 7.9%p 3.3%p 1.6%p 6.2%p 9.4%

41、p 4.3%q 17.8%q 0.8%q 4.9%q 12.3%2023 2024p 14.5%q 6.4%p 1.5%The Graduate Market in 20241010Graduates Recruited in 2023After two years of very rapid growth in graduate recruitment as the job market recovered from the pandemic,the 2022-2023 recruitment season began with many of the UKs top employers e

42、xpecting to match their bumper intake from 2022 in the year ahead.Employers in thirteen out of fifteen key industries and business sectors predicted they would maintain or increase the number of graduate vacancies at their organisation in 2023.The two exceptions were the accounting&professional serv

43、ices firms who had reported an increase of 25 per cent in their graduate recruitment in 2022 and the public sector,where the decision to pause recruitment for the Civil Service Fast Stream meant a reduction of around 1,000 graduate roles,compared with the opportunities available in 2022.By the mid-p

44、oint in the recruitment season in January 2023,the demand for graduates had apparently increased considerably,with employers in seven industries&business sectors opting to step-up their graduate recruitment targets for the year,including engineering&industrial companies,investment banks,and oil&ener

45、gy companies.The Civil Service Fast Stream was given the go-ahead to resume hiring and the countrys leading accounting&professional services expanded their recruitment further,in part to make up for the reduced number of graduates recruited during the pandemic.Together,the countrys leading graduate

46、employers anticipated taking on more than 3,000 additional graduates beyond their original recruitment targets for 2023.These revised targets Chart 2.2 Changes to Graduate Recruitment at the UKs Leading Employers in 2023Percentage of top graduate employers504020100Source-The Graduate Market in 2024R

47、ecruited the same number of graduates as in 202220%30Recruited 100+graduates more than in 20225%Recruited 1-50 graduates more than in 202220%Recruited 1-50 graduates fewer than in 202232%Recruited 100+graduates fewer than in 20229%Recruited 51-100 graduates more than in 20228%Recruited 51-100 gradua

48、tes fewer than in 20225%Didnt recruit any graduates in 20231%11The Graduate Market in 2024Table 2.3 Analysis of Graduates Recruited in 2023,by Industry or Business Sector Industry or Business SectorAccounting&professional servicesArmed ForcesBanking&financeChemicals&pharmaceuticalsConsultingConsumer

49、 goodsEngineering&industrialInvestment bankingLawMediaOil&energyPropertyPublic sectorRetailingTechnologyALL SECTORSRecruitment target for 2023,as published in Sept 20226,0751,1001,7901454851902,5102,3201,0379201701503,7201,9163,10026,428%change from recruitment in 2022q 13.4%q 25.0%q 3.3%p 4.0%q 0.4

50、%p 45.5%p 8.2%q 12.1%q 2.7%q 13.3%p 39.6%q 18.1%p 0.3%q 27.8%q 7.3%q 6.4%Vacancies added(cut),compared with 2022(964)(275)(60)4(2)76218(285)(29)(95)61(29)13(405)(219)(1,786)Actual graduates recruited by Dec 20236,2188251,7831044802432,8762,0671,0486212151314,3441,0532,78626,269Recruitment target for

51、 2023,as revised in Jan 20237,6101,1001,6661055001683,5552,4121,0206812411604,8221,4063,00429,800 Source-The Graduate Market in 2024suggested that graduate recruitment was set to rise by more than 6 per cent year-on-year,the third consecutive year of significant growth in the post-university employm

52、ent market.However,this latest research confirms that by the end of the 2023 recruitment round,the UKs top graduate employers did not achieve these ambitious targets.As the year progressed,fears of an imminent recession grew and employers in eight industries&business sectors cut back their recruitme

53、nt targets or chose to leave some of their vacancies unfilled(see Table 2.3).The biggest change of heart came at the accounting&professional services firms,several of whom reduced their consulting graduate intake for 2023,and there was one major public sector employer who had a significant recruitme

54、nt shortfall and was unable to fill a fifth of its planned graduate vacancies.This means graduate recruitment at the countrys leading graduate employers was actually 6.4 per cent lower in 2023 than it had been the previous year,rather than the 6.3 per cent increase in recruitment that had been predi

55、cted in January 2023.In all,forty-seven employers reported a reduced graduate intake in 2023(see Chart 2.2)and recruitment fell in ten out of fifteen of the most sought-after industries&business sectors with the biggest losses at accounting&professional services firms,retailers,investment banks and

56、technology companies,who together took on 2,100 fewer trainees than in 2022.The Graduate Market in 202412Expected Graduate Vacancies in 2024At the beginning of the new 2023-2024 graduate recruitment cycle in September 2023,many employers set aspirational recruitment targets for the year ahead that w

57、ere close to the levels they had been aiming for during the second half of the 2023 recruitment season.This would have amounted to a 9 per cent increase in vacancies for graduates leaving university in the summer of 2024.The latest assessment of graduate recruitment at the UKs top graduate employers

58、 shows that sentiment has worsened considerably since then,with official confirmation that the country slipped into recession in the second half of 2023 and a much less optimistic recruitment outlook in a number of key industries&business sectors.After announcing redundancies for existing employees,

59、several well-known accounting&professional services firms have scaled back their recruitment plans for 2024(see Table 2.8).And the countrys leading technology companies have reduced their hiring too and now expect to cut more than 300 graduate jobs,compared to recruitment in 2023.Employers in a furt

60、her seven sectors have reduced their graduate recruitment targets since the start of the recruitment season including banking&finance,investment banking and consulting.Together,the UKs leading graduate employers are offering 1.5%more graduate vacancies in 2024 than they recruited last year.More than

61、 two-fifths of employers are expecting to increase their recruitment this year,a quarter anticipate a similar level of recruitment to 2023,but a third will recruit fewer new graduates(see Chart 2.6).Chart 2.6 Changes to Graduate Vacancies at the UKs Leading Employers in 2024Percentage of top graduat

62、e employers504020100Source-The Graduate Market in 2024Recruiting the same number of graduates as in 202326%30Recruiting 100+graduates more than in 2023Recruiting 1-50 graduates more than in 202332%Recruiting 1-50 graduates fewer than in 202319%Not recruiting any graduates in 2024Recruiting 100+gradu

63、ates fewer than in 20236%Recruiting 51-100 graduates more than in 20239%Recruiting 51-100 graduates fewer than in 20234%1%3%13The Graduate Market in 2024Table 2.8 Analysis of Graduate Vacancies in 2024,by Industry or Business Sector Industry or Business SectorAccounting&professional servicesArmed Fo

64、rcesBanking&financeChemicals&pharmaceuticalsConsultingConsumer goodsEngineering&industrialInvestment bankingLawMediaOil&energyPropertyPublic sectorRetailingTechnologyALL SECTORS%change from recruitment in 2023q 8.2%p 3.0%p 3.9%q 3.1%q 24.2%p 7.3%p 20.8%p 4.1%p 7.8%q 22.2%p 18.1%q 14.5%p 9.4%p 9.1%q

65、10.6%p 1.5%Recruitment target for 2024,as revised in Jan 20245,9018501,8781262502504,4101,9449785222541124,4684302,74026,695Vacancies added(cut),compared with 2023(525)2571(4)(80)177587771(149)39(19)38436(325)405Recruitment target for 2024,as published in Sept 20236,8201,1002,04,0901,9809

66、4,5934062,97028,698 Source-The Graduate Market in 2024Chart 2.7 Graduate Vacancies at the UKs Top Employers in 2024Recruiting 101-250 graduates25%Recruiting 500+graduates 13%Recruiting 251-500 graduates17%Recruiting 51-100 graduates24%Percentage of top graduate employers50402010030Recruit

67、ing 1-50 graduates20%Median-130 vacancies Source-The Graduate Market in 2024No graduate vacancies in 20241%The Graduate Market in 202414Summary&Conclusions Graduate recruitment at employers featured in The Times Top 100 Graduate Employers decreased unexpectedly in 2023,following a sharp increase in

68、graduate vacancies in both 2021 and 2022 as employers sought to compensate for lower-than-usual recruitment during the Coronavirus pandemic.Instead of the predicted rise in graduate vacancies of 6.3%,the number of graduates recruited in 2023 actually fell by 6.4%year-on-year,with over 3,500 planned

69、graduate vacancies cut or left unfilled.Almost half the countrys top graduate employers reduced their graduate intake in 2023,compared to the previous year,and recruitment fell in ten out of fifteen key industries&business sectors.The biggest reductions in graduate vacancies were at the leading acco

70、unting&professional services firms,retailers,investment banks,the Armed Forces and technology companies.The latest recruitment targets for the UKs best-known graduate employers remain cautious and show that the level of graduate vacancies available in 2024 is expected to increase by a modest 1.5%.Fu

71、rther reductions in the number of trainees recruited by accounting&professional services firms are expected,but graduate vacancies are set to increase significantly at engineering&industrial employers,with extra opportunities for graduates available in the public sector too.15The Graduate Market in

72、2024Chapter 3Graduate Starting SalariesStarting Salaries for GraduatesThe second part of the research examines the starting salaries that the UKs top employers are preparing to pay new graduates who are due to join their organisations in 2024,compared with the salaries paid to graduate recruits who

73、began work in 2023.The starting salaries quoted are generally the average national salaries that have been promoted by employers during the 2023-2024 recruitment round.The figures do not include additional benefits such as starting work bonuses,relocation allowances,regional weighting,subsidised com

74、pany facilities or other bonus schemes.Graduate starting salaries at the countrys leading employers rose each year until 2010 but in the decade that followed the end of the global financial crisis,pay for university-leavers remained largely unchanged(see Chart 3.1).There were only two annual rises i

75、n 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,remaining at 30,000 for seven years running.This extended period of stability for graduate starting salaries coincided with a lengthy perio

76、d 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 to far outstrip the number of graduate vacancies available at the countrys top employers during this period,there was little market pres

77、sure for employers to improve their graduate starting salaries.Chart 3.1 Graduate Starting Salaries at the UKs Top Employers 2009 to 202420122013 2014 2015 201620172018 20192022 Source-The Graduate Market in 20242007,00029,00029,00029,00029,00029,50030,00030,00030,00030,00030,0

78、0030,00030,00032,000202433,50034,000The Graduate Market in 202416Graduate Starting Salaries in 2024For the third consecutive year,the median graduate starting salary on offer from the UKs leading employers has risen,to 34,000 for graduates starting work in 2024.This is an increase of 500 compared to

79、 the median salary paid to new graduates in 2023 and means that graduate pay has risen by 13.3%since 2021.There are ten employers at the very top of the market that are offering graduate starting salaries in excess of 50,000 this year,whereas just three employers have a starting salary of 25,000 or

80、less(see Chart 3.2).Analysis of the starting salaries paid for individual roles shows that more than a quarter graduate jobs at the countrys leading employers now have initial salaries of 40,000 or more.Two-fifths of employers included in the research are increasing their graduate pay this year most

81、 by up to 5.0 per cent compared with 2023(see Chart 3.3)but a quarter are offering more generous increases.Three-fifths of employers are not planning to change their starting salaries in 2024.Among the highest-paying sectors for new graduates,investment banking offers a median starting salary of 55,

82、000(see Chart 3.4),the median salary for trainee solicitors at the countrys top law firms is 50,000,and 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 sala

83、ry for graduates joining its popular trainee area manager programme is currently 50,000.It is interesting to note that if the median graduate starting salary of 29,500 paid by the countrys top employers a decade ago had kept pace with inflation over the past ten years,it would now be worth approxima

84、tely 38,800 almost 5,000 more than this years median pay for new graduates.25,001-30,00021%30,001-35,00033%Chart 3.2 Graduate Starting Salaries at leading UK Employers in 202435,001-40,00010%25,000 or less3%40,001-45,0008%More than 50,00010%Median Salary-34,00045,001-50,00015%Source-The Graduate Mar

85、ket in 2024Percentage of top graduate employers4020100305017The Graduate Market in 2024Chart 3.4 Graduate Salaries at the UKs Top Employers in 2024,by Sector or IndustryMedian starting salaries20,000Investment banking55,00025,00040,00045,00055,000Law50,000Oil&energy42,000Consulting47,500Public secto

86、r25,500Engineering&industrial 31,000Accounting&professional services 37,500Banking&finance35,000Consumer goods 37,000Media27,50035,00050,000Chemical&pharmaceuticals32,000Retailing 38,000Technology33,00030,000Chart 3.3 Changes to Graduate Starting Salaries at leading UK Employers in 2024No change in

87、salaries57%Up to a 5.0%rise in salaries18%Percentage of top graduate employers0More than a 10.0%rise in salaries14%Up to a 10.0%rise in salaries Source-The Graduate Market in 202411%Source-The Graduate Market in 2024Armed Forces27,000The Graduate Market in 202418Summary&Conclusions For th

88、e third year running graduate starting salaries at the UKs leading graduate employers are set to increase in 2024,to a new median starting salary of 34,000.This is an annual increase of 500,compared to the starting salaries paid to graduates in 2023 and represents a rise of 13.3%since 2020 when the

89、median starting salary at the countrys best-known graduate employers was 30,000.The most generous salaries in 2024 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 202

90、4 include international law firms White&Case(52,000)and Allen&Overy,Baker McKenzie,Clifford Chance,Freshfields,Herbert Smith Freehills,Latham Watkins,Linklaters and Slaughter and May(each 50,000),and retailer Aldi(50,000).19The Graduate Market in 2024Chapter 4Graduate Recruitment in 2023-2024Employe

91、rs Graduate Recruitment The final part of the research examines how the UKs leading employers are approaching their graduate recruitment in 2023-2024 from the promotions they are using to publicise graduate vacancies and their latest assessment&selection processes,to the universities they are target

92、ing for their recruitment and the volume and quality of graduate applications received so far for 2024 graduate vacancies.Fifteen years ago,the global financial crisis and recession in 2008 and 2009 had a profound impact on the resources available to the UKs leading graduate recruiters and The Gradu

93、ate Market in 2010 report confirmed that recruitment budgets at almost half of the countrys top graduate employers were cut that year.In the years 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 201

94、8 to 2020,the proportion of employers with larger recruitment budgets increased accordingly.With graduate recruitment targets cut significantly as a result of the Coronavirus pandemic in 2021,budgets were dramatically reduced accordingly.But a third of employers increased their spending as graduate

95、recruitment recovered in 2022 and budgets rose at a quarter of the countrys top graduate employers last year too.For the 2023-2024 graduate recruitment round,just one in six employers has stepped-up its recruitment budgets,three-fifths have a similar budget to the year before,but more than one in fi

96、ve employers has reduced spending on graduate recruitment this year(see Chart 4.1).Chart 4.1 Employers Graduate Recruitment Budgets for 2023-2024Budget has increased a little13%Budget is similar to last year63%Budget has decreased a little17%Percentage of top graduate employers0Budget has

97、 increased considerablyBudget has decreased considerably Source-The Graduate Market in 20243%4%The Graduate Market in 202420Graduate Recruitment Promotions&Selection Processes in 2023-2024The UKs leading graduate employers have used a very wide range of different promotions to publicise their gradua

98、te vacancies during the 2023-2024 recruitment season.In addition to their website,more than half of employers have produced a graduate recruitment brochure this year.A fifth have provided printed copies,for use at campus events and other in-person promotions,whereas two-fifths opted for a digital br

99、ochure(see Chart 4.2).For the duration of the pandemic from early 2020 until the summer of 2022,employers were unable to host their usual programme of on-campus recruitment events at universities around the country and moved almost all of their graduate recruitment marketing and promotions online.Al

100、though most employers restarted a programme of on-campus events from autumn 2022 onwards,over four-fifths of employers are still providing online presentations or skills training events and half are participating in virtual careers fairs,in order to reach students and graduate job hunters at univers

101、ities theyre not able to visit in-person.The 2023-2024 recruitment season has been one of the busiest ever at UK universities,with over four-fifths of the countrys top employers taking part in on-campus careers fairs and Chart 4.2 Recruitment Promotions used by the UKs Top Employers in 2023-2024Perc

102、entage of top graduate employers0 Source-The Graduate Market in 2024Digital brochure44%Printed brochure19%Employer PromotionsVirtual careers fairs54%Presentations or skills events86%Online Recruitment EventsIn-person careers fairs83%Presentations or skills events76%Pop-ups,installations o

103、r other splash events on campus34%Academic talks or lectures 36%On-Campus Recruitment EventsBrand ambassadors Recruited&managed in-house23%Brand ambassadors Recruited&managed by supplier39%Sponsorship of student societies,clubs or sporting teams41%Other Campus Recruitment Promotions21The Graduate Ma

104、rket in 2024three-quarters hosting their own local recruitment presentations or skills training sessions.A third have delivered talks or lectures in academic departments and a similar proportion have used pop-ups,installations or other splash event on campus,such as mobile coffee stations,roadshow v

105、ehicles and interactive experiences.There has been a renewed emphasis on sponsorship of student societies,clubs and sporting teams,with two-fifths of recruiters providing funding for this in 2023-2024 and more than half of employers investing in their own network of brand ambassadors on campus,eithe

106、r managed directly or through an external supplier.In terms of the assessment&selection processes in use in 2023-2024,almost all of the leading graduate employers have relied on online application forms but over a quarter are also happy to accept a CV with a covering letter(see Chart 4.3).More than

107、four-fifths of employers have made use of online aptitude or psychometric tests,as part of their initial assessment of applications.For first interviews,half of employers are relying on recorded or automated online interviews,fewer than a third conduct live online interviews via Zoom or Teams,and ju

108、st a fifth of organisations interview candidates in-person.At the final selection stage,more than half of employers are continuing to use a fully-virtual recruitment process with their assessment centres taking place online.Half of employers have returned to in-person assessment centres and some org

109、anisations are using a mix of both online and in-person centres,depending on the roles being assessed.Chart 4.3 Selection Processes used by the UKs Top Employers in 2023-2024Percentage of top graduate employers0 Source-The Graduate Market in 2024Online application form95%CV and cover lett

110、er or email29%ApplicationsOnline aptitude or psychometric tests84%Initial TestingRecorded or automated online interviews51%Live online interviews eg.via Zoom,Teams 29%In-person interviews22%First Round InterviewsIn-person assessment centre54%Online assessment centre57%Final Round Assessment CentresT

111、he Graduate Market in 202422Universities Targeted by Employers in 2023-2024 In the years before the pandemic,the number of individual universities targeted by the UKs top graduate employers grew steadily from an average of 19 universities in the 2011-2012 recruiting season to 27 universities in 2019

112、-2020.In the move to fully-online graduate recruitment during the pandemic,a significant minority of the leading employers stopped targeting specific universities,with recruiters taking a national or sector-led approach to their graduate recruitment,rather than focussing their promotions at individu

113、al local universities.As a result,targeting in 2021-2022 dropped to an average of 22 universities per employer.With employers returning to full programmes of on-campus events from autumn 2022 onwards,targeting bounced back to an average of 27 universities and has continued at that level this year(se

114、e Chart 4.4).Accounting&professional services firms,public sector employers,technology companies,investment banks and retailers have actively publicised their graduate vacancies at the largest number of local universities(see Chart 4.5).The five universities currently targeted by the largest number

115、of the UKs leading graduate employers are Birmingham,Manchester,Nottingham,Leeds and Bristol(see Table 4.6).These institutions have attracted the most top graduate employers for university careers fairs,on-campus employer presentations,university-specific virtual events,careers service promotions an

116、d initiatives,and other locally-run publicity during 2023-2024.It is interesting that this list of universities bears little resemblance to The Times&Sunday Times Good University Guide 2024,the latest league table compiled from a range of institutional data.The three universities most-often targeted

117、 by the UKs leading graduate employers Birmingham,Manchester and Nottingham are only ranked in 22nd,23rd and 32nd places respectively in the Good University Guide.And whilst St Andrews is currently in 1st place in the guide,it doesnt appear amongst employers top twenty universities.Chart 4.4 Number

118、of Universities Targeted by Top Employers in or fewer universities7%11-15 universities9%16-20 universities11%Percentage of top graduate employers5040201003026-30 universities14%31-35 universities10%21-25 universities15%More than 35 universities24%Average-27 universities Source-The Gradua

119、te Market in 2024Not targeting universities 10%23The Graduate Market in 2024Table 4.6 Universities Targeted by Largest Number of Top Employers in 2023-2024BirminghamManchesterNottinghamLeedsBristolWarwickLondon University CollegeSouthamptonDurhamExeter1.2.3.4.5.6.7.8.9.10.Ranking in Good University

120、Guide*22233224169617711BathSheffieldCambridgeLondon Kings CollegeOxfordEdinburghGlasgowLondon Imperial CollegeLondon Queen MaryLiverpool 11.12.13.14.15.16.17.18.19.20.Ranking in Good University Guide*8183xx2131254629 Source-The Graduate Market in 2024*The Times&Sunday Times Good University Guide 202

121、4Chart 4.5 Universities Targeted by Top Employers in 2023-2024,by Sector or IndustryAverage number of universities targeted by top graduate employers in sector0Accounting&professional services40 universities2050Media21 universitiesTechnology30 universitiesLaw28 universitiesEngineering&industrial27 u

122、niversitiesInvestment banking 29 universitiesRetail29 universitiesPublic sector36 universitiesBanking&finance18 universitiesChemicals&pharmaceuticals21 universitiesOil&energy 20 universitiesConsumer goods 23 universities103040 Source-The Graduate Market in 2024Consulting18 universitiesThe Graduate M

123、arket in 202424Graduate Job Applications in 2023-2024 Over the past four years,the graduate job market has experienced dramatic swings because of the pandemic significant under-recruitment in 2020 was followed by dramatic increases in graduate vacancies to compensate over the next two years.Inevitab

124、ly,this led to significant fluctuations in the level of applications received by the countrys top graduate employers.The number of applicants jumped by an unprecedented 41 per cent during the 2020-2021 recruitment season,as many of the previous years applicants who were unable to start their graduat

125、e jobs as planned in 2020 competed for places on employers 2021 graduate programmes.A year later applications dipped by an average of 7 per cent in the first half of the 2021-2022 recruitment round,but grew again by 8 per cent a year later.This year there has been another surge in applicants,with th

126、e UKs leading employers seeing an average increase of 27%in applications since the beginning of the graduate recruitment season(see Chart 4.7).A third of employers have maintained their application numbers so Chart 4.7 Graduate Job Applications made to the UKs Top Employers in 2023-2024Increased by

127、51%to 100%12%Increased by 26%to 50%28%Increased by up to 25%13%Average-27%increaseIncreased by over 100%10%Decreased a littleApplications are similar to last year63%Source-The Graduate Market in 2024Decreased by up to 10%Percentage of top graduate employers0Number of ApplicationsQuality o

128、f ApplicationsApplications are similar to last year31%Increased a little24%Increased considerably2%Decreased by over 25%2%Decreased by 11%to 25%3%Decreased considerably2%6%4%25The Graduate Market in 2024Up 18%far this year,but three-fifths are reporting a rise in applications,with some seeing double

129、 the number of applications they received in 2023.Graduate applications have risen in a total of twelve individual industries and business sectors with the biggest increases at consumer goods companies,media firms,property companies and public sector employers(see Chart 4.8).Applications to employer

130、s in the oil&energy and chemical&pharmaceuticals sectors were unchanged year-on-year.More than 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 quarter thought the quality of applications had

131、increased,either a little or considerably(see Chart 4.7),but twelve organisations were worried that the quality of their graduate applicants had decreased,compared to the 2022-2023 recruitment season.Chart 4.8 Change in Applications to Employers in 2023-2024,by Sector or IndustryAverage change in gr

132、aduate applications in 2023-2024,compared with ConsultingUp 29%10200 Source-The Graduate Market in 2024Chemical&PharmaceuticalsNO CHANGEOil&EnergyNO CHANGEConsumer GoodsUp 38%MediaUp 38%PropertyUp 37%Public sectorUp 37%Accountancy&professional servicesUp 34%Banking&FinanceUp 30%Technolo

133、gyUp 30%LawUp 26%1020Engineering&IndustrialUp x%RetailInvestment BankingUp 22%Up 13%The Graduate Market in 202426Summary&Conclusions The UKs top graduate employers have used a wide range of different promotions to publicise their graduate vacancies during the 2023-2024.More than four-fifths of emplo

134、yers have taken part in on-campus careers fairs and three-quarters have hosted their own recruitment presentations&skills training events at local universities during the year.Over half of employers have made use of campus brand ambassadors to promote their graduate recruitment and two-fifths have s

135、ponsored student societies,clubs or sporting teams.The countrys top graduate employers have targeted an average of 27 universities during the 2023-2024 recruitment season.The ten universities targeted by the largest number of leading graduate employers in 2023-2024 are Birmingham,Manchester,Nottingh

136、am,Leeds,Bristol,Warwick,University College London,Southampton,Durham and Exeter.There has been a surge in the number of applications to employers this year,with three-fifths of recruiters reporting a rise in applicants and some seeing more than double the number of applications received in 2023.On average,applications for graduate vacancies have increased by 27%year-on-year,with more applicants in twelve out of fourteen key industries and business sectors.High Fliers Research Limited The Gridiron Building,1 Pancras Square,London N1C 4AG Telephone 020 7428 9000 Web www.highfliers.co.uk