43% of recent graduates have found full-time employment in the career of their choice since leaving university, according to Endsleigh, which celebrates its 50th anniversary of insuring students and young professionals this year.
Endsleigh’s 2015 Graduate Survey, which was carried out by the Insight Team at NUS and surveyed 1,448 young professionals who had left university within the last four years, also found that a further 6% of graduates work part time in the career of their choice; while 22% work full time and 12% part time in a profession which was not their chosen career. 15% are still looking for a job while 4% stated they have used to the time to go travelling.
Of those who had found employment within a year of graduation, Endsleigh’s research found that 30% started on £12,000 a year or less, while almost one in ten (9%) were initially unpaid. 27% earned between £12,000 and £19,000 and nearly a third (29%) earned between £19,000 and £30,000. 3% of these graduates earned more than £30,000 a year.
Endsleigh also asked those who had been in employment for longer than a year how much they were currently earning, finding that only 12% were now paid £12,000 or less a year, while only 2% were currently unpaid. 24% of those had been working longer than a year were paid between £12,000 and £19,000, while 43% were paid between £19,000 and £30,000. 10% of these graduates earned more than £30, 000 a year.
When it came to expected pay rises, 26% of all graduates questioned envisage an increase of up to £5,000 over the next five years, over a quarter (27%) think they will get between £5,000 and £10,000, while 27% also believe they will get more than a £10,000 increase in their salary. Only 5% don’t think they’ll get a pay rise at all over the next five years.
In terms of their career development, 31% of graduates felt their career was progressing as expected, while 26% indicated it was progressing better than that had expected. However, 33% claimed that their career was developing more slowly or even worse than expected, with nearly a third (29%) of unpaid graduates believing they would have been in paid employment by now.
Finally, when it comes to how far graduates are willing to go in order to land their dream job, 34% of graduates questioned admitted they would be willing to lie on their CV about the nature of their experience and 29% said they would be willing to lie regarding the extent of their knowledge relevant to the job. 96% of graduates said they would be unwilling to lie about their exam results and personal qualifications – meaning that 4% might not tell the truth!
Sara Newell, Manager Student Markets at Endsleigh, said “Our research has shown us that for some graduates, finding a job that ticks all their boxes – including in terms of salary – is understandably challenging. Having said this, it is clear that many are realistic about the difficulties they’ll face upon leaving university and understand it’s not necessarily going to be an easy ride. It is encouraging, on the other hand, to see nearly half of graduates landing their dream job - while even more have managing to secure full-time paid employment in other industries - showing that with their university skills behind them graduates are still making a positive impact on the job market.”
Sam Griffiths, who graduated from the University of Nottingham in 2014 said: “I knew the job market would be tough when I left university - it was all anyone talked about when I was there. However, I was still taken aback by how few responses I got back from employers initially, despite the large amounts of positions I applied for. I kept myself busy with brief work experience placements, whilst I attended interviews for permanent jobs and luckily about four months after my graduation I got a fantastic job that I really wanted.
“Even though the job was just temporary and I knew it wouldn’t last forever - it was in the industry I wanted to work in and I knew getting that experience was important. Perhaps I would have got a job quicker if I had settled for something less exciting, but in the end I was glad I didn’t. I’m now working in a similar sector doing a paid internship and although I’m still on the hunt for something permanent, I’m feeling good about my future prospects!”