2023 Graduate Market Analysis Report

Introduction

• The 2023 Graduate Market Analysis report provides an overview of the graduate job market in the UK, based on research conducted by High Fliers Research Limited.
• The report is based on a survey of the largest graduate employers in the UK, including companies in the Times Top 100 Graduate Employers.
• The FT article here has some key insights.

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Key findings

1. The latest recruitment targets for the country’s leading employers show that the number of graduate jobs available in 2023 is expected to increase by a further 6.3%.
2. For the second year running graduate starting salaries at the UK’s leading graduate employers are set to increase in 2023, to a new median starting salary of £33,500.
3. The most generous salaries in 2023 are those on offer from the investment banks (median of £55,000), law firms (median of £50,000) and consulting firms (median of £47,500).
4. Over a third (37%) of graduate employers have concerns about a shortage of skilled graduates for their business in 2023.
5. FT found 13,500 entry-level positions for software engineers and 10,300 entry-level positions for data analysts in the US so far this year, as technical roles remain in demand.
6. On average, employers received 39 applications per graduate vacancy in 2022.
7. The ten universities targeted by the largest number of top graduate employers in 2022-2023 are Manchester, Nottingham, Birmingham, Bristol, Warwick, Leeds, University College London, Cambridge, Durham and Southampton.
8. The use of virtual recruitment methods is expected to remain high in 2023, with 70% of graduate employers planning to use online interviews and 55% using online assessments.
9. The proportion of graduate employers offering remote working is expected to increase to 75% in 2023.
10. Employers are increasing their investment in diversity and inclusion initiatives, with 81% of graduate employers increasing their spending in this area.
11. Mental health and well-being is a growing focus for graduate employers, with 82% offering well-being initiatives and support to their employees.

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Conclusion

• Overall, the report suggests that 2023 will be a positive year for graduates looking for employment in the UK, with a high number of job vacancies and competitive salaries on offer.
• Despite the high number of jobs available, competition for them is still expected to be fierce. Employers will be looking for candidates who stand out from the crowd.
• Employers are looking for graduates with strong communication skills, problem-solving abilities, and the ability to work in a team.
• Find more insights and trends here.

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