Graduates 'not afraid of hard work'

Keywords: Job satisfaction, Graduates, Debt, Salaries, Careers,Training

The Puritan work ethic is alive and kicking among UK graduates, who are prepared to work long hours in high-pressure jobs provided the post is interesting and the prospects good. Despite the threat of recession, some 64 per cent of graduates believe their chances of finding a job are good, compared to 51 per cent four years ago. Salary expectations are also on the increase - up 13 per cent in four years. Student debt has escalated by 78 per cent over the same period.

The figures are contained in Grad Facts '98, the fourth in a series of surveys of final-year students, commissioned by The Guardian in conjunction with British Airways, and conducted by NOP. On average, graduates expect their starting salary to be £14,097, rising to £22,157 after five years. Women,however, emerge as less optimistic, expecting to earn £1,500 less than their male counterparts. In reality, the average starting salary for a graduate position in 1998 was £16,500, but this does not take account of students going into non-graduate jobs.

Most graduates begin their careers in debt. The average amount owed is £3,904- an increase of £1,703 from 1994. Three-quarters of graduates owe money to student-loan companies while 67 per cent owe money to the bank. The greatest increase in money owed is on credit and store cards, with 32 per cent of graduates in debt to their credit-card companies compared to 18 per cent four years ago. "Despite record levels of debt and high salary expectations, money is not the driving force among graduates when it comes to looking for a job. Job satisfaction is key with graduates," comments Carolyn McCall, director, Guardian Newspapers. "Graduates prefer jobs which will give them access to senior people in companies and, in general, large companies are favoured over small organizations."

The three most attractive benefits an employer can offer graduates are:

• 1.

  training;

• 2.

  car; and

• 3.

  regular salary reviews.

A favourable number of days holiday, sponsorship for relevant professional qualifications and a development programme also feature highly.

The most popular career choices among recent graduates are trainee management(27 per cent), information technology (23 per cent), management consultancy (21 per cent) and research and development (27 per cent). Nursing, secretarial work and catering emerge as the least-popular professions. On average, women can expect to make five applications for every one interview, compared to men who can expect to make four applications before getting an interview.

Employers tend to select applicants from the "old" universities above those from the former polytechnics. The ratio of job applications to interviews is 3.9 for those from old universities, 5.3 for those from new universities and 6.1 for those from other institutions. There is also clear evidence that the earlier graduates start their job search, the more likely they are to land a graduate post.