Graduate recruitment in the UK is an employer's market with an average 48 applications per vacancy, new research reveals.
The International Network of Graduate Recruitment and Development Associations (INGRADA) Global Graduate Survey 2010 shows the UK currently has more graduate applications per vacancy than Australia, Canada, the USA, Hong Kong and South Africa. This in turn means that marketing and attraction costs for UK companies are lower than in other countries.
Graduate employment in the UK also represents good value for money for employers; the average UK graduate salary stands at £25,000, more than £3,000 less than in Australia and Canada and £4,000 less than in America. Graduate salaries in Hong Kong are by far the highest at £30,000 - £42,000 while in South Africa they currently stand at just over £9,000.
The report, which is being spearheaded by the Association of Graduate Recruiters (AGR) is based on the aggregated results of surveys and market knowledge from six countries covering graduate starting salaries, offer acceptance rates, vacancy and application figures, retention rates and the costs associated with hiring graduates.
Carl Gilleard, Chief Executive of the AGR, said: "We are very proud of our role in founding INGRADA and the launch of the INGRADA Global Graduate Survey today is a landmark in AGR's history. The political, economic and cultural environment in which organisations recruit and develop graduates is becoming increasingly global. We believe that the international partnerships we have forged through INGRADA will benefit our growing membership which now stands at close to 800 organisations -many of which are multi-nationals."
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