Research has found that a record number of jobs at Britain’s top graduate employers are being reserved for graduates who have previously taken part in some form of internship or placement with the company.
The research, conducted by High Flyers Research on 100 companies, also predicts that graduate vacancies are set to rise to a 7 year high. Most companies have stated that four out of every ten new positions to be advertised for 2014 graduates will be reserved for those with previous experience through placements, resulting in any other leavers being unable to apply. This number rose to as much as 50 per cent of jobs at law firms and 75 per cent at City investment banks.
The survey stated: “Although the total number of graduate vacancies is set to increase sharply in 2014, recruiters have confirmed that 37 per cent of this year’s entry-level positions will be filled by graduates who have already worked for their organisations – either through paid internships, vacation work or industrial placements – and therefore are not open to other students from the ‘Class of 2014’.”
These revelations coincide with news that the average graduate starting salary will remain stagnant at £29,000 for the fifth consecutive year. Members of government such as Nick Clegg have again warned that children of wealthy well-connected families such as chief executives should not be allowed to monopolise internship positions.
A University spokesperson refuted the research findings, saying: “The statistics quoted are based on evidence from only 100 graduate recruiters – the majority of which have well developed graduate programmes and extensive internship programmes.
“The conclusions will not necessarily apply across the graduate labour market as a whole.”
They also emphasised the University’s support of internships and the investment of £2k in their internship service over the past two years.
Kallum Taylor, YUSU President, commented: “More vacancies available to young, talented graduates can only be a good thing.
“The accessibility of internships for those who can’t afford to essentially work far away from home for (at best) very little needs addressing though. This really does affect the playing field when it comes to applying for the proper jobs.”