Challenging Graduate Career Opportunities

28 01 2009

Graduates are facing a very tough jobs market. The ‘Class of 2009’ has already had to contend with gloomy predictions of a serious shortfall in the number of graduate jobs available when they finish their degrees this year. But it’s not all gloom and doom if you’re creative and entrepreneurial.

Some of the more entrepreneurial graduates in sectors where competition for jobs is fiercest are already taking defensive action to create their own start-ups. The NCGE’s Flying Start Programme for the Creative Industries, held in Bournemouth earlier this month, received over 100 applications for 33 places from as far north as Yorkshire.

Graduates chasing vacancies at the UK’s largest recruiters will find fewer opportunities on average. High Fliers Research, whose 14th January report – The Graduate Market in 2009 – surveyed 100 firms, found that recruitment targets have been cut by 17% for this year since the latest graduate recruitment round began in September 2008.

Last year graduate recruitment fell by 6.7% rather than rising by the 11.8% predicted by the recruiters themselves. Banking and finance were particularly badly hit. Skilled staff taken on by leading firms will drop by 7,000 to around 33,000 this year.

Mike Hill, Chief Executive of the Higher Education Careers Services Unit (HESCU) and Graduate Prospects, said recently: “Graduates should not panic. There are lots of jobs out there, but they will be harder to get because more people will be going for them.

“There are more jobs for graduates now than there were 10 years ago,” he added. It is also important, Mike recommends, for HR managers to take a long-term view when faced with current financial pressures. “When we emerge from this recession we will need all the talent we can muster.”

Some areas are bucking the trend, according to the High Fliers research report. There are now 51% more entry-level positions for graduates in the public sector and 17% more roles in the Armed Forces. Accountancy remains a strong prospect, preparing to offer 20.9% of all graduate jobs in 2009.

A BBC Briefing for concerned graduates listed seven top tips from HESCU and Graduate Prospects include:

  • Take advice
  • Broaden your horizons to related professions
  • Consider paid or unpaid work experience
  • Do not be too proud to use contacts to get a first break
  • Do not be too proud to take a job you think may be beneath you
  • Be imaginative

and

  • Consider setting up your own business.

Seasoned entrepreneur Sir David Tang has criticised global pessimism in the face of recession. In a recent opinion piece he recommended we shed negativity and think about finding solutions. He called on governments to force banks to lend to small businesses.

The Government is taking action on a number of fronts. In addition to its recent support package for small businesses, a new campaign – Science: So What? (So Everything) – launched today at 10 Downing Street underlines the continuing need for science, technology, engineering and maths subject areas among many graduate employers. Technology and innovation are seen as key drivers for economic recovery.

Meanwhile, Professor Dame Wendy Hall is spearheading another campaign by the Royal Academy of Engineering to attract more engineers from diverse backgrounds. She said: “The financial turmoil and the recession actually give us a huge opportunity to entice people who have studied engineering and science away from the City and back into innovating for the future, which is where they are badly needed.”

For those graduates among the 400,000 due to graduate this year who remain unemployed for more than six months, it has been reported that DIUS Minister John Denham is proposing paid three-month internships with leading firms and is inviting more of all sizes, and from the public and voluntary sectors, to take part. But details are still being worked out.

In the Government’s New Opportunities White Paper, it was also announced last week that a more streamlined package of support for those unemployed for six months or more pursuing self-employment is to be introduced.

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