A survey commissioned by reed.co.uk has discovered over half of the recent class of graduates are ‘concerned’ with finding a job in the current economic climate.
The results come as reed.co.uk, one of the UK’s leading job boards and part of Reed group of companies, asked new graduates what factors affected their decisions when choosing a job in the economic downturn.
Staggeringly, it found that 1 in 4 graduates would consider sacrificing up to 2.5-5% of their salary in exchange for job security for three years.
Almost two thirds of graduates believed the private sector was more affected than the public sector, and a significant number of graduates are shunning careers in the financial sector and are moving towards marketing, media and creative sectors (20%).
This is compared to 4% in finance, 2% in banking and 3% in accounting. The impact of these career decisions could have a longer term impact on the pace of economic ‘recovery’ in the UK, as graduates shun traditional city jobs.
The proportion of young people entering full degree courses at universities in the UK has continued to rise.
Yet, more than 1 in 4 graduates cited their biggest fear for the coming years in terms of employment was that there wouldn’t be enough jobs and, over half of respondents have applied for more than 5 jobs since graduating and still haven’t found one.
Mark Rhodes, Head of Marketing at reed.co.uk commented:
“Fresher’s week has kicked off for many universities, and alongside the inevitable drinking and fun of these first few weeks, we want to make sure undergraduates remember there is a serious side to university as recent graduates who are still looking for jobs in a difficult economic climate have shown.
"We are seeing that graduates are shunning the traditional ‘jobs’ and looking for opportunities in different sectors. It’s important that incoming university students have an eye on their future and not just their fellow students. “
Nick Watson-Jones, newly graduated in engineering from Sheffield University commented:
“The next few months looks like being very tough for me and my fellow graduates. My advice to university students is to get some relevant work experience. I haven’t been able to get past the CV stage and I think that’s because I can’t demonstrate that I have worked in the field or a similar