Businesses plan graduate hiring spree

Figures released today by Incomes Data Services show that employers expect to hire 18 per cent more graduates this year, up from a small increase of 3.4 per cent in 2013.

This is particularly driven by the financial services sector, which plans to take on 42 per cent more grads. Manufacturers and the service sector both plan to up recruitment by 22 per cent.

Nasreen Rahman, assistant editor at IDS, said: “Recruitment prospects for this year’s crop of graduates look brighter than they have for a long while as the number of job opportunities is set to rise sharply.

“Some sectors such as finance appear to be making up for lost time, aiming to recruit several times more graduates in 2014 than they did in 2013.”

However graduate pay looks unlikely to keep up. 

Rahman added: “Graduate starting salaries are effectively frozen so those fortunate enough to be recruited on to a training programme will be paid less in real terms than their predecessors as employers take advantage of the competition for places.  The class of 2014 will be paid less than the class of 2008.”

Related: Top 5 tips for hiring millenials

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