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Latest NewsGraduatesPay & benefitsRecruitment & retentionHealth insurance

Graduates want total reward package, not just cash for holidays and expensive clothes

by Georgina Fuller 21 Mar 2007
by Georgina Fuller 21 Mar 2007

Today’s graduates are more concerned about buying a house and joining a decent pension scheme than exotic holidays and designer wardrobes, according to a survey.

The study by performance 
improvement firm P&MM
found that graduates were more interested in practical company benefits, such as private healthcare and tax-free childcare, than regular holidays.

Almost two-thirds of the 600 respondents cited owning their own home as their number one lifestyle ambition, but only 7% cited regular holidays and just 2% said a designer wardrobe.

Half of new graduates also said they wanted and expected to retire before the age of 60, and one-third expected to earn more than £50,000 per year after 10 years: 19% believe that they will be earning between £40,000-£50,000 a year.

Almost six out of 10 said that they would rather be in a job they loved that paid poorly than in a job they hated that paid well.

David Lebond, executive director at P&MM, said: “These results have shown us that graduates are thinking about their long-term goals and future ambitions from the start of their working careers.

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“What has also been highlighted is that additional added benefits that a company will supply its workforce will outweigh any monetary rewards.

“Graduates are looking for a total reward and remuneration package and not just a high salary. If an employer is going to compete in the job market and attract the right calibre of staff, then employee benefits are regarded as a must-have.”

Georgina Fuller

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