Generation Y 2.0

With job cut backs and hiring freezes, graduates may be wondering what’s in store for them this year.
The Graduate Market in 2009 report by High Fliers and the Association of Graduate Recruiters (AGR) own report, there will  be less opportunities for graduates in this years’ hiring round despite reported increases predicted earlier in 2008. Cuts are of course being firmly blamed on the credit crunch/recession.

Last year there were approximately 2.8 graduates for every place in the leading companies and with more graduates coming onto the market this year competing for potentially less jobs this ratio is likely to be at least 3.5 to 1. Competition is likely to increase again in 2010. Yet stories continue that employers are looking to overseas candidates in order to find the skills they are looking for, as found by the AGR. Focus on university league tables showing the employability of their graduates is likely to increase and employers may be thinking of targeting their rounds very carefully.

Most of the vacancies continue to be based in London and the South. According to the AGR, banks are likely to cut graduate vacancies by at least 28%, together with cuts in graduate starting pay. Engineering sectors may see an increase in graduate vacancies but continue to have a shortfall in the right calibre of candidates. So perhaps engineering graduates will be less inclined to head to the City for banking jobs this year, but the shortfall in this field continues. And there appear to be reports of pay freezes for graduates elsewhere.
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