Grovelands Graduate Insights - Spring Summer 2016
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<strong>Spring</strong>/<strong>Summer</strong> <strong>2016</strong><br />
<strong>Grovelands</strong><br />
<strong>Graduate</strong> <strong>Insights</strong>
Foreword<br />
Contents<br />
Welcome to the latest edition of<br />
our <strong>Grovelands</strong> <strong>Insights</strong> series.<br />
This time we have focussed our attention on<br />
the graduate market, specifically examining<br />
the experience of graduate workers, how they<br />
approach job-hunting, and what employers<br />
should be doing to attract top talent.<br />
Every summer and autumn a large number of<br />
graduates enter the job market for the first time.<br />
It is a highly competitive market, both for the<br />
graduates seeking their first roles, and for the<br />
businesses trying to attract them.<br />
We examine the realities of seeking work for the<br />
first time; how prepared are graduates? How do<br />
universities support their students and alumni?<br />
What types of roles and what level of pay<br />
attracts graduate interest? How do these realities<br />
match up against the expectations of students<br />
still at university?<br />
With the high cost of attending university, we try<br />
to understand and explain how this has impacted<br />
current students’ attitudes, expectations and<br />
career aspirations.<br />
This survey reports on current students,<br />
employed graduates, and graduates who have<br />
so far been unsuccessful in securing a role.<br />
This report will help students in forming their<br />
employment expectations, graduates in assessing<br />
their position in the market, and employers in<br />
understanding how they can attract the top<br />
talent for their business.<br />
I hope you enjoy the report.<br />
For more information on our findings please<br />
get in touch at gi@grovelands.co.uk<br />
Executive summary 04<br />
Meet our respondents 06<br />
Expectations vs realities 09<br />
Looking to the future 16<br />
Our conclusion 18<br />
This survey reports on current<br />
students, employed graduates,<br />
and graduates who have so<br />
far been unsuccessful in<br />
securing a role.<br />
Best Wishes,<br />
Ben Wilson<br />
CEO, <strong>Grovelands</strong>
Executive summary<br />
Executive<br />
summary<br />
This edition of <strong>Grovelands</strong><br />
<strong>Insights</strong> report deals with<br />
the graduate market and<br />
its views on work, starting<br />
a career and finding jobs.<br />
Here, we outline our key<br />
findings from each section:<br />
Meet our respondents<br />
Of 221 respondents 69% have graduated and<br />
31% are still at university. The most common age<br />
of our respondents is 22-25 years. Most are<br />
single and without children.<br />
Our graduates and students have attended<br />
universities across the UK and covered a wide<br />
range of degree subjects including humanities,<br />
arts and sciences.<br />
51% of current students say they are aiming<br />
to achieve a 2.1 degree classification with 39%<br />
aiming for a 1st Class; however our data suggests<br />
far fewer will actually manage to achieve these<br />
grades with almost as many graduate respondents<br />
leaving university with a 2.2 as with a 1st.<br />
Students were evenly split when asked whether<br />
they were concerned about student debt; a<br />
small percentage say they do consider debt<br />
when thinking about future employment. 42% of<br />
students aim to enter employment immediately<br />
after leaving university with the remainder aiming<br />
to travel or complete further study.<br />
4 | <strong>Grovelands</strong> <strong>Graduate</strong> <strong>Insights</strong> | <strong>Spring</strong>/<strong>Summer</strong> <strong>2016</strong>
Executive summary<br />
Expectations vs realities<br />
Students and graduates are open to a wide<br />
range of career options, 20% of students say they<br />
have no specific career path in mind and 59% of<br />
graduates say they are working in a role unrelated<br />
to their degree subject.<br />
Respondents who began to consider and apply<br />
for roles earlier at university seem to have better<br />
success in finding work after university. However<br />
the majority (53%) plan to wait until after graduation<br />
before completing a single job application.<br />
47% of graduates say it takes at least 6 months<br />
to find a graduate role with 18% saying it takes<br />
more than a year. The competition for roles is our<br />
respondents’ main concern and reason why they<br />
feel they are unsuccessful in applications.<br />
57% of respondents say they did not use their<br />
university careers services until their final year of<br />
study and 15% did not use it at all, this suggests<br />
that universities could be doing more to engage<br />
with students earlier.<br />
A good work/life balance is considered crucial<br />
to graduate workers with 75% feeling this is more<br />
important than salary.<br />
Students feel a starting salary of between<br />
£20,000 - £30,000 is realistic however most<br />
graduates are earning between £15,000 - £25,000.<br />
Looking to the future<br />
63% of respondents feel further study will be<br />
necessary in order to achieve the graduate role<br />
that they want, suggesting an undergraduate<br />
degree is of most value in conjunction with<br />
other qualifications.<br />
On average, graduates expect to achieve<br />
lifestyle milestones (such as owning a home) by<br />
age 30-35. However students expect to earn<br />
higher salaries by age 35 than graduates.<br />
<strong>Grovelands</strong> <strong>Graduate</strong> <strong>Insights</strong> | <strong>Spring</strong>/<strong>Summer</strong> <strong>2016</strong> | 5
Meet our<br />
respondents<br />
Our pool is made up of 221 respondents, of<br />
these 69% have graduated and 31% are still<br />
at university. We surveyed people on both sides<br />
of graduation in order to examine how the<br />
expectations of students match up against the<br />
realities of life after graduation.<br />
Are you currently studying<br />
or have you graduated?<br />
Studying (31.2%)<br />
<strong>Graduate</strong>d (68.8%)<br />
Over 2/3rds of<br />
respondents have<br />
already graduated<br />
from university.<br />
77% of current students surveyed are in their<br />
penultimate or final year of study, and 28% are<br />
in the early stages of their university education.<br />
Part of our interest has been in examining at<br />
what point in their university life students begin to<br />
consider career options. We want to understand<br />
the correlation between those who consider their<br />
options sooner and success in finding work.<br />
We have seen a fairly even gender split with<br />
54% female respondents and 46% male. 49% of<br />
respondents are 22-25 years of age, with 18-21<br />
and 26-30 both at 23%. The majority (64%) are<br />
single without any children.<br />
51% of undergraduates are expecting to achieve<br />
a 2.1 grade and 39% expect to achieve a 1st Class<br />
degree. However, 68% of graduates achieved a<br />
2.1, 14% achieved a 1st and 13% achieved a 2.2.<br />
Clearly students aim to achieve the highest<br />
grade possible, but these figures suggest fewer<br />
graduates manage to achieve a 1st Class grade<br />
than those who hope to. With most graduate<br />
schemes asking for a minimum of a 2.1 degree,<br />
gaining a lower classification can cause difficulties<br />
in finding work.<br />
6 | <strong>Grovelands</strong> <strong>Graduate</strong> <strong>Insights</strong> | <strong>Spring</strong>/<strong>Summer</strong> <strong>2016</strong>
Meet the respondents<br />
Respondents are studying<br />
for a variety of qualifications:<br />
BSc<br />
Bachelor of Science<br />
82 respondents<br />
BA<br />
Bachelor of Arts<br />
70 respondents<br />
MSc<br />
Master of Science<br />
23 respondents<br />
10% of our respondents changed their degree<br />
subject part way through their course. In most<br />
cases this was due to a personal dislike of the<br />
original course. Better career prospects was<br />
the second most common reason for changing.<br />
Undergraduate students appear to recognise<br />
that they need to get their course choice right<br />
and that a university education is an important<br />
platform to better employment prospects.<br />
Only 49% of students say they are concerned<br />
about student debt while 51% say they are not.<br />
This even divide of attitudes to student debt<br />
suggests that while debt is a concern, students<br />
are not being put off university by the cost.<br />
However, with increases to tuition and cuts<br />
made to grants, students may well ask what<br />
their universities are doing to offer them value<br />
for money.<br />
Only 3.4% of students said they expect starting<br />
salaries to be in proportion to increased costs of<br />
study. This suggests students do not expect to<br />
see an immediate financial reward after studying.<br />
MA<br />
ME<br />
BL<br />
Fd<br />
PhD<br />
AAT<br />
Master of Arts<br />
9 respondents<br />
Master of Engineering<br />
6 respondents<br />
Bachelor of Laws<br />
3 respondents<br />
Foundation Degree<br />
2 respondents<br />
PhD<br />
2 respondents<br />
AAT<br />
1 respondent<br />
PhD<br />
Professional Doctorate<br />
1 respondent<br />
MB<br />
Bachelor of Medicine<br />
1 respondent<br />
HND<br />
HND<br />
1 respondent
Home location<br />
66% of our group are White British with a<br />
wider ethnic diversity amongst our student<br />
respondents. Students and graduates were from<br />
universities from all over the UK including Bath,<br />
Bristol, Exeter, Sussex and Glasgow amongst<br />
others. We also gained a cross section of degree<br />
subjects covering Sciences, Economics, English<br />
and Humanities, Management and Marketing.<br />
SCOTLAND (5%)<br />
Respondents come<br />
from a wide variety<br />
of locations across the<br />
UK with some from<br />
much further afield.<br />
NORTH WEST<br />
ENGLAND (6%)<br />
NORTH EAST<br />
ENGLAND (2%)<br />
MIDLANDS (14%)<br />
EAST ANGLIA (5%)<br />
WALES (1%)<br />
EUROPEAN (6%)<br />
NON-EUROPEAN (5%)<br />
SOUTH WEST<br />
ENGLAND (32%)<br />
LONDON (4%)<br />
SOUTH EAST<br />
ENGLAND (20%)<br />
North East England<br />
Durham University<br />
Leeds Beckett University<br />
Newcastle University<br />
Northumbria University<br />
Teesside University<br />
University of Huddersfield<br />
University of Hull<br />
University of Sheffield<br />
University of Sunderland<br />
University of York<br />
North West England<br />
Blackpool and the<br />
Fylde College<br />
Lancaster University<br />
Liverpool John Moores<br />
University<br />
University of<br />
Central Lancashire<br />
University of Liverpool<br />
Midlands<br />
Aston University<br />
Birmingham City University<br />
Coventry University<br />
Keele University<br />
Oxford Brookes University<br />
University of Bedfordshire<br />
University of Birmingham<br />
University of Derby<br />
University of Leicester<br />
University of Lincoln<br />
University of Northampton<br />
University of Nottingham<br />
University of Wolverhampton<br />
East Anglia<br />
Anglia Ruskin University<br />
South East England<br />
Canterbury Christ<br />
Church University<br />
Northbrook College<br />
University of Brighton<br />
University of Chichester<br />
University of Essex<br />
University of Kent<br />
University of Portsmouth<br />
University of Surrey<br />
University of Sussex<br />
South West England<br />
Plymouth University<br />
University of Bath<br />
University of Bristol<br />
University of Exeter<br />
University of Gloucestershire<br />
University of the West<br />
of England<br />
London<br />
City College, London<br />
Drama Centre London<br />
London Metropolitan<br />
University<br />
London South Bank<br />
University<br />
Queen Mary University<br />
of London<br />
University College London<br />
University of East London<br />
University of Greenwich<br />
University of Hertfordshire<br />
University of Westminster<br />
Wales<br />
Bangor University<br />
Cardiff University<br />
University of Glamorgan<br />
Scotland<br />
Edinburgh Napier University<br />
Glasgow Caledonian<br />
University<br />
Heriot-Watt University<br />
University of Dundee<br />
University of Edinburgh<br />
University of Glasgow<br />
University of Strathclyde<br />
University of West Scotland<br />
European<br />
Politehnica University<br />
of Bucharest (Romania)<br />
Non-European<br />
San Ignacio de Loyola<br />
University (Peru)<br />
Acadia University (USA)<br />
Goa University (India)
Expectations<br />
vs realities<br />
This section examines student expectation of<br />
employment and how this matches up against<br />
the experiences of graduates.<br />
20% of students said that they had no specific<br />
career plans after graduation. Of those who were<br />
decided, a broad range of careers were planned<br />
including Medicine, Teaching, Acting, Finance and<br />
Law. In April 2015, the Telegraph newspaper<br />
revealed the top 10 most popular subjects to<br />
study at university. Of these the majority were<br />
career specific – with Medicine the top result,<br />
Business Studies second, and Creative<br />
Art/Design came in third.<br />
In order to attract talent from the entire<br />
graduate pool, employers need to be accessible<br />
to students from a range of disciplines. 59%<br />
of employed graduates say their role is not<br />
specifically related to their degree. This suggests<br />
graduates are open to, and able to find, different<br />
career paths and so can be attracted to a range<br />
of businesses. 73% of graduates who are currently<br />
seeking work are looking for roles directly related<br />
to their degree specialism, which is in stark<br />
contrast to those who have found employment.<br />
One possible conclusion is that graduates who<br />
are open to differing employment routes and<br />
more adaptive to the opportunities open to<br />
them, succeed sooner in finding employment.<br />
63% of existing students said they will not be<br />
completing a placement year as part of their<br />
degree; however 56% have completed some<br />
form of relevant work experience throughout their<br />
study – mainly in the form of summer internships.<br />
The most common total length of experience<br />
gained was 0-6months (39%); however 19%<br />
have gained up to a year of work experience<br />
alongside study.<br />
Of the graduates surveyed who have not found<br />
work, 63% have completed work experience of<br />
some kind; most commonly 0-6 months in length<br />
(43%). 57% of our graduate workers had not<br />
completed any work experience during their<br />
study. This suggests that a lack of work experience<br />
has not stood in the way of these graduates<br />
finding work. However, this contradicts graduate<br />
advice, which promotes the need for work<br />
experience. There are also varying requirements<br />
for work experience across different industries.<br />
<strong>Grovelands</strong> <strong>Graduate</strong> <strong>Insights</strong> | <strong>Spring</strong>/<strong>Summer</strong> <strong>2016</strong> | 9
Expectations vs realities<br />
Finding employment<br />
Few of our employed respondents found work<br />
through traditional graduate schemes. While<br />
these are a common way to capture graduate<br />
talent, with most major businesses running a<br />
graduate programme, they are not a route taken<br />
by the majority of graduates each year. There<br />
are limited places on these schemes and a lot of<br />
competition. 36% of graduates had received job<br />
offers prior to graduation day, with 8% having<br />
competing offers for work. Comparatively, 53%<br />
of graduates wait until after university before<br />
starting to apply for work, 34% began applying<br />
during their final year, with 17% beginning to apply<br />
in their first 2 years at university. <strong>Graduate</strong>s who<br />
began applying prior to graduation seem to have<br />
more success in gaining employment, whereas all<br />
of the unemployed graduates waited to apply for<br />
roles after their final year. There appears to be<br />
a positive correlation between early job<br />
applications and finding paid employment.<br />
70% of current students have not yet begun<br />
applying for work, 58% say they plan to start<br />
applying during their final year of study, and 18%<br />
are not planning to apply until after they graduate.<br />
This could be an opportunity for employers.<br />
Typically graduate schemes have only one intake<br />
per year, usually in the autumn to coincide with<br />
the availability of fresh graduates. However,<br />
if employers were to offer a second intake at<br />
another point in the year, then arguably they<br />
would gain access to a greater pool of top talent.<br />
Employers could open themselves up to those<br />
graduates who chose to focus on their studies<br />
until the end of university rather than start<br />
applying for roles early. This second round of<br />
on boarding could be crucial in gaining more<br />
graduate talent out of university.<br />
Where do students find the jobs they have applied for?<br />
72% 68% 37% 28%<br />
find jobs advertised by<br />
social media/email<br />
find jobs via<br />
web search<br />
find work via<br />
friends and family<br />
use the website<br />
‘Milkround’<br />
10 | <strong>Grovelands</strong> <strong>Graduate</strong> <strong>Insights</strong> | <strong>Spring</strong>/<strong>Summer</strong> <strong>2016</strong>
Expectations vs realities<br />
72% of students apply for jobs that have been<br />
advertised via social media and email marketing<br />
campaigns from their university career service.<br />
68% complete simple web searches for relevant<br />
roles, and 28% use Milkround. Interestingly, 37%<br />
stated that friends or family contacts play a key<br />
part in their search for work, suggesting that the<br />
power of who you know is still very prevalent.<br />
Only 3% of graduate respondents gained their<br />
role through university careers services. 24%<br />
found roles using online sites such as Reed and<br />
TotalJobs, and an equal number were placed in<br />
roles by recruitment agencies. 23% found work<br />
through family or friends, which supports the<br />
reliance on personal network building. 11% were<br />
contacted directly by firms and invited to attend<br />
interviews. This demonstrates the importance of<br />
students self-promoting on sites such as LinkedIn,<br />
and having searchable CVs on job boards.<br />
47% of graduate respondents believe it takes<br />
6 months to 1 year to find a graduate role, and<br />
18% believe that it takes more than a year. With<br />
high numbers of graduates leaving university<br />
each year, the graduate market appears to be<br />
more competitive than ever. Of our unemployed<br />
respondents, 50% felt competition for roles was<br />
their main barrier to success. Whilst this is good<br />
news for employers, as it suggests they can<br />
select from a larger pool of talent, it does pose<br />
a possible negative for universities. School<br />
leavers may be put off university education<br />
knowing how competitive the job market can<br />
be. Less conventional routes to employment,<br />
such as apprenticeships and school leaver<br />
schemes, may increase in popularity.<br />
Do you, or did you work part-time<br />
to finance your education?<br />
Yes (59.3%)<br />
No (40.7%)<br />
Would you consider voluntary<br />
or unpaid work in order to gain<br />
experience?<br />
Yes (72.6%)<br />
No (27.4%)<br />
<strong>Grovelands</strong> <strong>Graduate</strong> <strong>Insights</strong> | <strong>Spring</strong>/<strong>Summer</strong> <strong>2016</strong> | 11
Expectations vs realities<br />
Assistance with seeking work<br />
Universities seemingly have a real obligation to<br />
better support students in job applications and<br />
seeking work. Of our current students, 21% have<br />
already applied for 1-5 jobs but 30% of employed<br />
graduates stated that they applied for more<br />
than 30 roles before finding success. Students<br />
may benefit from advice to improve their<br />
application skills.<br />
57% of our respondents did not make use of<br />
their career services until their final year of study.<br />
Additionally, 15% said they had never made use<br />
of their careers service. Whilst universities cannot<br />
force students to make better use of the facilities,<br />
they may need to promote their services better to<br />
undergraduates. The majority of current students<br />
felt their tutors are helpful in preparing them for<br />
work. A surprising 58% of unemployed graduates<br />
say they did not receive enough support from<br />
universities to prepare them for work. 50% of<br />
graduate respondents felt that having a degree<br />
has not benefitted their search for work as much<br />
as they had anticipated. Some respondents<br />
felt personality was of more importance than<br />
qualifications in job interviews. Others felt the<br />
connections and relationships made whilst at<br />
university were more helpful than the degree itself.<br />
<strong>Graduate</strong>s in the workplace<br />
We have gained a real insight into how graduates<br />
find work and what employers do to attract top<br />
talent. 34% have been in their role for 1-2 years,<br />
and 45% are less than 1 year into their current<br />
position. 44% are earning £20,000-£30,000 per<br />
annum, with 24% earning less than £20,000, and<br />
7% earning more than £40K. However, 29% said<br />
they were expecting a higher salary than the one<br />
gained, and 27% stated they had no expectation<br />
of salary after graduation.<br />
We also examined how graduates find working life.<br />
A recent PWC survey of their employees found<br />
key distinctions in how the ‘Millennial generation’<br />
(born between 1980 and 1995) approaches work,<br />
in comparison to older generations of employees.<br />
One key distinction they noted was a greater<br />
expectation from Millennials to have a good<br />
work/life balance. This was reinforced by our<br />
research which found 75% of graduates felt a<br />
work/life balance was more important than a<br />
high salary. 62% of our graduate respondents<br />
felt that their work was not having an adverse<br />
affect on their personal lives, suggesting that<br />
employers are meeting demands for a good<br />
balance between work and life.<br />
12 | <strong>Grovelands</strong> <strong>Graduate</strong> <strong>Insights</strong> | <strong>Spring</strong>/<strong>Summer</strong> <strong>2016</strong>
Expectations vs realities<br />
We also examined the leave entitlement<br />
graduate workers are receiving from employers;<br />
the majority at 44% receive 21-25 days, 25%<br />
receive between 26-30 days, and 7% receive<br />
more than 30 days holiday per annum. Another<br />
indicator of a healthy work/life balance is the<br />
number of hours worked per week. At 49%, 30-40<br />
hours were most common for a graduate’s working<br />
week, 43% work a 40-50 hour week, and only<br />
5% work more than 50 hours a week. This would<br />
support the assertion that graduate workers<br />
expect and maintain a good work/life balance<br />
in their early careers.<br />
If you are still studying, does<br />
your current course have specific<br />
modules that focus on finding work<br />
and work skills?<br />
Yes (40.7%)<br />
No (59.3%)<br />
Is a work/life balance more<br />
important than a high salary?<br />
Yes (74.9%)<br />
No (25.1%)<br />
24% of graduates are earning less<br />
than £20,000, with 44% earning<br />
between £20,000 - £30,000.<br />
<strong>Grovelands</strong> <strong>Graduate</strong> <strong>Insights</strong> | <strong>Spring</strong>/<strong>Summer</strong> <strong>2016</strong> | 13
Expectations vs realities<br />
Measuring productivity<br />
We also examined how recent graduate workers<br />
measure their productivity at work. Traditionally<br />
work is measured by hours and time spent<br />
working on projects. However, the latest<br />
generation prefer to be measured against<br />
a different set of criteria. 49% say they should<br />
be measured against targets achieved and<br />
40% saying that work completed is the best<br />
measure, regardless of time spent.<br />
Setting regular, quantifiable targets seems to be<br />
the best way to clearly demonstrate to graduate<br />
workers what they need to do to succeed in the<br />
work place. This relates to the importance placed<br />
on a healthy work/life balance expressed by our<br />
respondents. Modern firms are already adapting<br />
to this way of working, by offering flexible working<br />
hours rather than following a fixed 9-5 structure.<br />
This also indicates a strong level of trust from<br />
employer to employee, as they can be left to<br />
work independently and complete their<br />
workload in their own time.<br />
We asked how much salary mattered to graduates,<br />
or if other benefits carried equal or greater<br />
weight. Overall, students ranked salary highest,<br />
followed by holiday and flexible working. Of the<br />
employed graduates, 46% wished for flexible<br />
working, and 39% wanted the ability to work from<br />
home (respondents could select more than one<br />
option). This is in keeping with Millennial’s desire<br />
to maintain a good work/life balance. Work,<br />
salary and bonus came in highly at 66%,<br />
followed by healthcare at 50%. This suggests that<br />
considerations for work/life balance come into<br />
prevalence for graduates after they have started<br />
employment. We also examined the benefits<br />
graduates are currently receiving; additional<br />
bonus or commission was a common benefit<br />
with 63% saying this was offered, however less<br />
common benefits included additional days off<br />
of work to volunteer with charities, team break<br />
out spaces, team events, and discounts for high<br />
street shopping.<br />
The working environment on offer is a key<br />
way in which employers can attract talented<br />
graduates without increasing salary expenditure.<br />
46% of graduates stated that they enjoy their<br />
current position, and are committed to staying<br />
and developing with the same firm. 36% said<br />
that, while they enjoy their job, they would soon<br />
be looking for something new.<br />
14 | <strong>Grovelands</strong> <strong>Graduate</strong> <strong>Insights</strong> | <strong>Spring</strong>/<strong>Summer</strong> <strong>2016</strong>
Expectations vs realities<br />
What employee benefits do you<br />
receive?<br />
Bonus/commission<br />
63%<br />
Health care<br />
46.7%<br />
Gym membership<br />
27.2%<br />
Expectations of first role<br />
We asked current students what salary they<br />
expect to be earning in their first role. This<br />
showed a discrepancy between expectation<br />
and realities for graduates. 37% expect to earn<br />
£20,000-£30,000 straight out of university,<br />
with 9% expecting to earn more than £30,000.<br />
Sources differ on average salary figures as we<br />
see statistics from reports such as the High Flyers<br />
detailing high salaries via graduate schemes.<br />
However we know that only a small percentage<br />
of graduates are successful in achieving these<br />
positions. It seems more common that graduates<br />
earn a lower salary (graduate information site<br />
<strong>Graduate</strong> Fog suggest £22,000 as an average<br />
starting figure) hence we see continual reports<br />
of the ‘boomerang’ generation who return to the<br />
family home after graduation as they cannot<br />
afford a place of their own.<br />
Flexible working<br />
42.4%<br />
Ability to work at home<br />
22.8%<br />
The most popular of benefits<br />
are those related to a good<br />
work/life balance.<br />
Other<br />
15.2%<br />
<strong>Grovelands</strong> <strong>Graduate</strong> <strong>Insights</strong> | <strong>Spring</strong>/<strong>Summer</strong> <strong>2016</strong> | 15
Looking to<br />
the future<br />
<strong>Graduate</strong>s in the early stages of their career tend<br />
to see the quickest progression and increase in<br />
their earnings. 45% stated that they have been<br />
promoted since starting work, and 19% have<br />
progressed though additional training or study.<br />
Finding a career where they feel able to grow<br />
professionally is a key consideration for graduates.<br />
Of those who have not yet progressed, 22% felt<br />
that this was likely to happen in the near future.<br />
Our graduates were also asked what would most<br />
encourage them to remain in a role; after salary<br />
(77%) the ability to progress and develop was the<br />
second highest factor (66%) (respondents could<br />
select more than one answer).<br />
We also examined education and whether further<br />
study would be beneficial to our respondents. 63%<br />
of students felt further study and qualifications<br />
would increase their ability to find work. However,<br />
these can be through vocational and professional<br />
qualifications as well as traditional university<br />
pathways. 42% of students plan to go on to<br />
complete further education in the near future, 38%<br />
of graduates plan to complete another qualification<br />
and 39% are still open to the option of additional<br />
study. Of our unemployed graduates, 57% feel<br />
further study would be helpful in finding work.<br />
This may suggest that with a saturated graduate<br />
market, employers look for further qualifications on<br />
top of an undergraduate degree. If this is the case,<br />
then it does call into question the value of a degree<br />
unless topped up with other qualifications.<br />
How would you rate your future outlook?<br />
Very positive<br />
29.9%<br />
Positive<br />
49.7%<br />
Undecided<br />
15.3%<br />
Negative<br />
4.5%<br />
Very negative<br />
0.6%<br />
16 | <strong>Grovelands</strong> <strong>Graduate</strong> <strong>Insights</strong> | <strong>Spring</strong>/<strong>Summer</strong> <strong>2016</strong>
Looking to the future<br />
Respondents are feeling positive about their<br />
futures with 50% saying they have a positive<br />
future ahead and with a further 30% saying they<br />
feel very positive. Only 6% feel negative about<br />
their future. Interestingly this 6% consists of<br />
current students and employed graduates.<br />
Whilst this is only a very small portion of respondents,<br />
it indicates a level of doubt and concern amongst<br />
graduates regarding the value of their education<br />
and qualifications. From our feedback the reasons<br />
for this are concern over the competitiveness of<br />
the graduate market and whether having a good<br />
degree will be meaningful in seeking work.<br />
A series of questions about milestones in life<br />
allowed us to gauge the level of future success<br />
expected by our graduates. 40% of respondents<br />
hope to own a home by the age of 30, but 9%<br />
anticipate that this will not happen until they<br />
are nearer to 40. Across all respondents, 28%<br />
expect to be earning £35,000-£45,000 per year<br />
by 35. However, 20% of students felt £75,000<br />
was an achievable salary by that age, but hardly<br />
any graduate respondents agreed with this.<br />
This appears to be an example of student<br />
expectation far outweighing the realities of working.<br />
It perhaps suggests that until they join the world<br />
of work, students are less realistic or do not<br />
properly consider what salaries and working<br />
life will be like.<br />
Are you happy with the<br />
feedback that you receive<br />
on your performance?<br />
Yes (69.7%)<br />
No (30.3%)<br />
Another major cost occurred in life comes from<br />
raising a family; our respondents felt this would<br />
be financially viable for them aged 25-30 (36%),<br />
or aged 31-35 (48%). Only 8% of respondents<br />
said that starting a family was not an important<br />
consideration as part of their future. Despite<br />
different and new approaches in work, Millennials<br />
do appear to plan to lead a fairly traditional life in<br />
the same footsteps as previous generations.<br />
<strong>Grovelands</strong> <strong>Graduate</strong> <strong>Insights</strong> | <strong>Spring</strong>/<strong>Summer</strong> <strong>2016</strong> | 17
Our<br />
conclusion<br />
What have we discovered?<br />
After examining how both students and graduates approach their job search and envisage<br />
their working life, some key differences between expectations and reality have been revealed.<br />
We have picked out 4 key trends from our analysis; some of which we expected to see, and other<br />
elements which came as a surprise.<br />
1. Increase the number of graduate intakes<br />
to get the best talent. The majority of<br />
students and graduates do not start to seek<br />
roles until after they have left university. With<br />
employers running only one major graduate<br />
intake a year, they run the risk of missing out<br />
on this large pool of talent. By running more<br />
than one intake throughout the year, businesses<br />
can better attract and capture graduate talent<br />
that otherwise would be missed.<br />
2. A healthy work/life balance is a must.<br />
Our respondents want a decent work/life<br />
balance. For many, it is a consideration that<br />
ranks higher than salary. In addition to this,<br />
rather than being measured by hours worked,<br />
graduates respond to having the freedom<br />
to choose how and when they go about<br />
completing work and wish to be measured<br />
against the quality of work delivered rather<br />
than time spent at work.<br />
3. <strong>Graduate</strong>s are not concerned about<br />
university costs. To our surprise the rising<br />
cost of attending university does not appear<br />
to be overly worrying or concerning to the<br />
graduate workforce. However, with a more<br />
competitive graduate market than ever,<br />
there is a greater expectation and pressure<br />
on universities to properly prepare and equip<br />
their students for job applications and<br />
working life.<br />
4. <strong>Graduate</strong>s are open minded about careers.<br />
We have also found that few graduates leave<br />
university with a specific career pathway in<br />
mind, and even fewer graduates find<br />
themselves working in roles directly related<br />
to their degrees. Employers who are open<br />
and available to a cross section of degree<br />
disciplines will profit more than those who<br />
are selective in their intake requirements.<br />
We hope you find the results of this survey<br />
as interesting and insightful as we do. We look<br />
forward to publishing the next edition of<br />
<strong>Grovelands</strong> <strong>Insights</strong>.<br />
To find out more about this survey and the <strong>Grovelands</strong> <strong>Insights</strong> series please email us at gi@grovelands.co.uk<br />
<strong>Grovelands</strong> would like to thank all those who took part in the survey and have helped us to produce this report.
Bibliography<br />
Cumming, Ed. “Boomerang Generation: the young adults<br />
living back with parents.” The Daily Telegraph 15 July 2014.<br />
www.telegraph.co.uk/finance/property Web. 29 Oct<br />
2015.<br />
Dar, Aliyah. “Youth Unemployment Statistics.” House<br />
of Commons Library 11 Nov 2015. www.parliament.uk/<br />
commons-library 11 Nov 2015.<br />
Davidson, Lauren. “Growing- Ups: Why people in their 20s<br />
won’t move out of home.” The Daily Telegraph 2 Dec 2014.<br />
www.telegraph.co.uk/finance/economics<br />
Web. 29 Oct 2015.<br />
<strong>Graduate</strong> Fog, “Average <strong>Graduate</strong> Salary £29,000<br />
(as long as you’re on a prestigious grad scheme.”<br />
http://graduatefog.co.uk. 1 July 2013. Web. 29 Oct 2015.<br />
Higher Education Careers Services Unit. “What do<br />
graduates do?” October 2015. www.hecsu.ac.uk<br />
Web 20 Oct 2015.<br />
High Fliers Research Limited. “The <strong>Graduate</strong> Market in<br />
2015. Annual review of graduate vacancies and starting<br />
salaries at Britain’s Leading employers.” 12th Jan 2015.<br />
www.highfliers.co.uk Web. 9 Sept 2015.<br />
PwC. “PwC’s NextGen: A Global Generational Study.”<br />
2013. www.pwc.com Web. 9 Sept 2015<br />
“Student Life: Top Ten Most Popular Subjects.” The Daily<br />
Telegraph 15 Jan 2014. www.telegraph.co.uk/education<br />
Web. 29 Oct 2015.<br />
About this survey<br />
The statistics and data used in this report were compiled from research carried out by <strong>Grovelands</strong> using an online<br />
questionnaire in Autumn 2015 which surveyed students and graduates drawn from our in-house database.<br />
This report summarises key findings along with our own interpretations of the research, it has bee carefully prepared<br />
but it has been written using the most common terminology and general terms. The results are provided as generic<br />
market information only, rather than any guarantee of personal viewpoints regarding salary, position, benefit or any<br />
other market condition. <strong>Grovelands</strong> does not make any warranties regarding the use, validity, accuracy or reliability<br />
of the results and information obtained.<br />
©March <strong>2016</strong> <strong>Grovelands</strong>. All rights reserved
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