Graduate salaries continue to rise

Salaries for graduate positions will be higher than ever this summer, with graduates able to command an average salary of £21,997.

According to the latest Graduate Market Trends report by Graduate Prospects, salaries range from £13,242 to £36,000.

Positions in the management consultancy sector command the highest mean salary at £34,724, followed by the oil, mining and extractive industries at £26,474.

Management consultancy had the highest number of vacancies (9.9 per cent), followed by banks and building societies (9.1 per cent) and civil service and local government (7.7 per cent).

The three positions offering the highest salaries were in banking and retail management positions, while the lowest were offered in the voluntary and hospitality sectors.

Finance, insurance, pensions and actuarial work make up the majority of positions advertised in London and the South East (26.7 per cent and 16.3 per cent respectively).

Engineering is the second most buoyant in the South East, contributing to 15.8 per cent of the region’s vacancies.

Vacancies in IT have increased by more than one third from a year ago and the mean salary, £24,711, is one of the highest.

The high salaries offered to IT professionals are mainly attributed to companies in the chemical, oil, food manufacturing and banking sectors.

The full report will be published on 11 January.

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