28.12.2016 Views

Grovelands Graduate Insights - Spring Summer 2016

Create successful ePaper yourself

Turn your PDF publications into a flip-book with our unique Google optimized e-Paper software.

<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


Brighton<br />

Tower Point<br />

5th Floor<br />

44 North Road<br />

Brighton<br />

BN1 1YR<br />

London<br />

2 London Wall Buildings<br />

London<br />

EC2M 5PP<br />

T +44 (0)1273 651 500<br />

F +44 (0)1273 371 067<br />

E gi@grovelands.co.uk<br />

Design by www.pws-design.com

Hooray! Your file is uploaded and ready to be published.

Saved successfully!

Ooh no, something went wrong!