Tightening Job Market for fresh graduates

    June 29th 2010, 16:43pm - Posted by Administrator

  • Quiet surprising, one out of six students would have reviewed his/her decision to go to university if they had learned the difficulty they would face in finding jobs after the completion of their degrees, a recent study found.

    Around 16,000 students in the final year of their degrees participated in the survey and it was analyzed that around 36 percent of them had a good chance of finding jobs after they graduated. The students revealed that they were greatly influenced by the thought that a degree would bring them job without much search. However, some of them have been applying for jobs for awhile and none has a positive outcome to share with others.

    The survey findings showed that only one third of graduates of this year expect to find jobs based on their graduation and the rest will add up to the growing back log of students who have not been able to find work in the past years. So the competition is fierce among students for jobs and getting harder as new students join them every year.

    Oblivious to students hardships, the Russell Group, the representative body of 20 leading higher education institutes of UK, has been lobbying to remove the current £3,225-a-year cap on fees, allowing universities to charge students whatever they wish. Some vice-chancellors have demanded for a palpable raise in the student fees with the rationale of hike up in salaries of successful professionals.

    Other vice-chancellors have called for the inquiry to recommend a substantial increase in the cap when it reports next year. Part of the rationale behind charging students more is that those who benefit from inflated salaries after going through higher education should pay more towards its cost.

    However, Martin Birchall, the managing director of High Fliers Research, says that the argument for surge in fee could have been true 10-15 years ago. He says that due to the highest inflationary figures and global recession, situation is even tougher for students. "A small percentage can still earn high salaries by going to big firms like JP Morgan, Rolls-Royce et cetera – but unfortunately it's only the top 10 to 15 per cent who can look forward to that," he said. He further said “unfortunately it's only the top 10 to 15 per cent who can look forward to that," he said  “Currently, there are 300,000 graduates leaving university every year – twice as many as in the early 1990s – and even in a good year there are only 150,000 graduate jobs”

    David Willetts, the universities Secretary, backed up Mr. Brichall and said "The jobs market continues to be very tough for young people, who were among the biggest losers during the recession."

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