The UK Graduate Careers Survey 06 Survey Summary Produced by High Fliers Research
Produced by High Fliers Research Limited 10a Belmont Street Camden Town NW1 8HH Telephone: 0 7428 9000 Email: surveys@highfliers.co.uk Employers who participated in the 06 research programme: ACCA Accenture Addleshaw Goddard Allen & Overy Army AstraZeneca BAE Systems BDO Stoy Hayward Bloomberg BT Citigroup Corus Data Connection Deloitte Deutsche Bank Dstl Ernst & Young Exxonmobil Financial Services Authority Freshfields Bruckhaus Deringer Fujitsu GlaxoSmithKline Goldman Sachs HM Revenue & Customs HSBC Institute of Chartered Accountants in England & Wales JP Morgan KPMG Linklaters Lloyds TSB L'Oreal Lovells Marks & Spencer Mars Morgan Stanley National Grid Procter & Gamble Police HPDS PricewaterhouseCoopers Royal Air Force Royal Bank of Scotland Group Rolls-Royce Sainsbury's Shell Smiths Aerospace Teach First UBS Unilever All information contained in this report is believed to be correct and unbiased, but the publisher does not accept responsibility for any loss arising from decisions made upon this information. High Fliers Research Limited 06. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system, or transmitted in any form or by any means, electronic, mechanical, photocopying or otherwise, without the prior permission of the publisher, High Fliers Research Limited.
Contents Page Executive Summary 5 1. Introduction 7 Background 7 Survey Organisers 7 Organising the Fieldwork 8 2. The Class of 06 9 Finalists Plans for After University 10 Applications for Graduate Jobs 12 Views on Employment 14 Expectations for First Job 16 Aspirations for the Future 18 3. Finalists Views on University 19 Views on Time at University and Life after Graduation Graduation Debts 22 4. Job Hunting in 05-06 23 University Careers Services 24 Readership of National Newspapers 26 3
Foreword Executive Summary The UK Graduate Careers Survey 06 is based on face-to-face interviews with 16,452 final year students from the Class of 06 studying at 30 leading universities in the UK and Ireland, carried out in February 06. The survey is the largest of its kind ever conducted and the sample includes one in five students graduating from these universities in the summer of 06: The proportion of final year students expecting to enter the graduate job market this year has increased noticeably from last year. % of finalists believed they would either start a graduate job or be looking for a graduate job after leaving university, compared with 36% in 05 and 35% in 04. High numbers hoped to stay on at university 24% of finalists were planning postgraduate study as an alternative to graduate employment. Students confidence in the job market continues to improve, but two-thirds of finalists still believe that there are not enough graduate jobs available for those leaving university this summer. Around a fifth thought that there are only very limited graduate vacancies this year. More finalists made early job applications to employers during the 05-06 recruitment season. 47% of students had applied by the end of February, compared to 46% a year ago and the average number of applications made by finalists also increased. Together these results accounted for a 5% rise in the overall volume of graduate job applications made in 05-06. Investment banking and accountancy attracted more early applications from finalists than any other career area, but overall the most popular destinations for the Class of 06 were careers in the media and teaching. The accounting sector recorded the largest increase in total applications. Graduate salary expectations continued to rise this year. Final year job hunters expected to earn an average of,300 for their first job, 2.5% more than in 05. remains the preferred employment destination for per of graduates and is the first choice for students at 23 out of the 30 universities included in the survey. The vast majority of students enjoyed their time at university and over three-quarters were pleased with their choice of degree course and institution. Graduates from the Class of 06 expect to owe an average of 10,0 at the end of their degrees, the same as in 05 but up from 10,100 in 03, 5,900 in 01 and 3,0 in 1999. More than a third of final year students said they wouldn t have come to university at all if they had been faced with the new tuition fees of 3,000 that are to be introduced in autumn 06. Local university careers services continued to be excellent focal points for job hunting and careers activities on campus, and their facilities were used by a total 83% of final year students in 05-06 either in person, online or via a careers module as part of their degree course. Over half of those who used careers services had a formal consultation with a careers adviser; three-quarters of finalists rated their careers services as either excellent or good. 5
Universities included in the survey. St Andrews Edinburgh Glasgow Strathclyde Newcastle Belfast Durham Lancaster York Dublin Liverpool Leeds Sheffield Manchester Nottingham Loughborough Birmingham Aston Warwick Cambridge Cardiff Bristol Exeter Bath Oxford Reading Imperial College School of Economics University College Southampton
Chapter 1 Introduction About the Survey Now in its twelfth year, The UK Graduate Careers Survey is an innovative annual study of how the UK s top students prepare for life after university, conducted by High Fliers Research, on behalf of up to fifty leading graduate employers. It gives employers a unique insight into the career expectations and aspirations of final year students, just weeks before they graduate, and provides a definitive record of how they have conducted their job search. Devised originally in 1995, the research has now been conducted for over a decade and is the UK s largest and most detailed annual graduate recruitment survey. It has become key source of information for major employers reviewing the success of the their graduate recruitment marketing and planning future recruitment campaigns. Headlines from recent surveys have been widely reported in the national and local press, including coverage on Channel Four News, the BBC One o Clock News and BBC News 24, and articles in The Times, The Independent, The Guardian and Financial Times. The 06 survey has been the largest study conducted by High Fliers Research and indeed is the largest student survey ever carried out in the UK and Ireland. It is based on direct interviews with 16,452 final year students from thirty leading universities, supported by in-depth research with 2,488 student job hunters. Survey Organisers High Fliers Research Limited is an independent market research company which specialises in student and graduate research. Established in 1994, the company has now worked with over 100 leading employers to measure the impact of their recruitment activities on campus and help them understand their position in the graduate market. Since 02, High Fliers Research has also conducted regular surveys of employers to research current graduate vacancy levels, starting salaries and benchmark graduate recruitment practices. Its latest study, The Graduate Market in 06 reported a 10.8% increase in graduate vacancies for 06 at Britain s top employers and revealed that the largest recruiters during the 05-06 recruitment season were the accounting & professional services firms and City investment banks. A new venture for High Fliers Research has been the launch in of its first overseas student survey, The Australia & New Zealand Graduate Careers Survey. Following a successful pilot study in 04, the survey is now being conducted annually at sixteen leading universities down under and features face-to-face interviews with over 7,000 final year students each year. High Fliers Research is also working closely with the Australian Association of Graduate Employers to carry out its annual survey of graduate employers. 7
Organising the Fieldwork Fieldwork for The UK Graduate Careers Survey is divided into two distinct phases during the year the Employer Research and Graduate Recruitment Research. The Employer Research is based on focus groups and online exercises conducted with final year students who are actively looking for a graduate job. This research is conducted in the late autumn to assess employers recruitment materials such as brochures, websites and advertising, as well as research a number of specially commissioned questions for each employer. In all over 1,000 final year students participate in the group work, with a further 250 or so finalists answering questions for each of the key career areas for which employers are recruiting graduates. Much of the Graduate Recruitment Research is conducted through face-to-face interviews. This is clearly very labour-intensive but this approach is considered essential to guarantee that a large proportion of final year students participate in the research. Interviewers for the fieldwork are drawn from the student community and over 700 were recruited by local university managers for 06. Interviews for the survey were timed to take place during the final week of February and the first week of March. This was as late in the academic year as possible, to ensure that the survey recorded as much of students job hunting activities as possible. At each university, a team of up to 35 interviewers conducted 25 interviews each during a six-day period. Every interviewer was provided with several university departments from which to select students at random to take part in interviews. This helped ensure that the proportion of students from different subjects at each universities interviewed for the survey mirrored closely the proportion of students present at the university. Finalists studying medicine, veterinary science, pharmacy or dentistry were omitted from the survey as their career paths are quite separate from mainstream graduate recruitment. After the interviews had been completed, approximately 5 per cent of the original sample were re-interviewed by the survey s full-time research team to confirm the validity of the data and make sure the fieldwork had been completed correctly. The overall target for the survey was to interview between 15 and per cent of the final year population at each of the universities in the study. In total, the 05 survey included face-to-face interviews with 16,452 finalists, a sample of 19.8 per cent (see Table 1.1). A further 2,488 final year job hunters participated in additional in-depth research about their career search in 05-06. Table 1.1 Final Year Students Interviewed for the UK Graduate Careers Survey 06 Aston Bath Belfast Queens University Birmingham Bristol Cambridge Cardiff Dublin Trinity College Durham Edinburgh Exeter Glasgow Lancaster Leeds Liverpool Imperial College Number of finalists interviewed for the survey 326 339 435 864 453 657 616 337 691 648 589 508 518 848 465 352 Estimated number of finalists at university 1,180 1,700 2,830 4,830 2,600 3,560 3,160 1,510 3,000 3,330 2,460 2,670 2,870 5,600 2,800 1,3 % of finalists interviewed for survey 27.6 19.9 15.4 17.9 17.4 18.5 19.5 22.3 23.0 19.5 23.9 19.0 18.0 15.1 16.6 26.7 School of Economics University College Loughborough Manchester Newcastle Nottingham Oxford Reading Sheffield Southampton St Andrews Strathclyde Warwick York SURVEY TOTAL Number of finalists interviewed for the survey 300 451 628 817 587 737 609 448 736 568 391 510 697 327 16,452 Estimated number of finalists at university 1,070 2,710 2,760 5,060 3,1 3,410 3,060 2,270 3,350 2,710 1,0 2,680 2,850 1,7 83,250 % of finalists interviewed for survey 28.0 16.6 22.8 16.1 18.8 21.6 19.9 19.7 22.0 21.0 37.6 19.0 24.5 18.8 19.8 8
Chapter 2 The Class of 06 Key Points A total of % of finalists thought they would be joining the graduate job market after university A quarter of this year s finalists are planning to do postgraduate courses Careers in accountancy & investment banking were more popular than in05 remains the first choice work destination Finalists average expected starting salary is,300 Background The UK Graduate Careers Survey 06 aims to give graduate employers an accurate and realistic picture of what final year students expect to do after university and what they really want from their first graduate employment. It can be hard for employers to do this themselves as students who have applied for graduate positions often tell recruiters what they think their interviewers and assessors want to hear, in order to increase their chances of success during the application and selection process. One key indicator is the number of finalists who expect to enter the graduate job market in 05, as compared to those who have other plans such as postgraduate study or travel, and the number who are undecided about their plans. Final year students were asked in detail about the business areas or job functions that they had been applying to or expected to make applications to later in the recruitment round. These results provide important data on the supply of new graduates in 06 and the kind of employment which they are most interested in. Student job hunters were also questioned about their aspirations for their first employment after university the elements of their first job and employer that were most important, their preferred location of work, anticipated starting salaries for a first graduate job, and their hopes and aspirations for the future. The final part of the analysis deals with students confidence about the current job market and their views on whether there are sufficient graduate positions available for those leaving university this year, an important indication of the confidence levels of the Class of 06. 9
Finalists Plans for After University This year s survey shows that there has been a substantial increase in the number of finalists expecting to join the graduate job market in 06 (see Chart 2.1). The survey results show that 24 per cent of those leaving university this summer were expecting to start a full-time graduate position at the end of their degree, and a further 16 per cent thought they would be looking for a job after graduation (see Chart 2.2). This means that per cent of the final year population are planning to join the graduate job market this year, up from 36 per cent in 05. For seven consecutive recruitment seasons until 04, the percentage of finalists heading for graduate employment after university fell steadily. Although this trend has now been reversed and The UK Graduate Careers Survey has recorded two consecutive years of increasing numbers of finalists expecting graduate jobs, there are still significantly fewer finalists aiming for graduate-level jobs today than there were in the late 1990s. The 60 per cent of final year students from the Class of 06 who are not preparing for graduate employment after university are divided between further study, taking time off for travel, temporary work, or had yet to confirm their plans. Nearly a quarter of all finalists hoped to continue their academic endeavours with a postgraduate course the third highest level seen since the survey was first conducted in 1995. Fewer final year students planned to take time-off or go travelling, 16 per cent compared with 17 per cent in 05 and 19 per cent in 04. There were 8 per cent of finalists who believed they would be doing other work after graduation, typically a temporary job or a voluntary position. The remaining 12 per cent of students had no definite plans, a small reduction on the 14 per cent reported in 05. The School of Economics, Aston, Strathclyde, s Imperial College, Bath and Queen s University Belfast had the highest proportion of finalists planning to start work or look for a graduate job after university at least half of finalists at these universities thought they d enter the job market in 06 (see Table 2.3). The lowest numbers were at Dublin s Trinity College, St Andrews, Leeds and Cambridge. Conversely, postgraduate courses were particuarly popular with students at these universities and plus those at Glasgow, Warwick, s Imperial College and Oxford. Chart 2.1 Finalists who are Expecting to Join the Graduate Job Market 100 80 Percentage of finalists 60 44% 42% 49% 43% 42% % 39% 37% 35% 36% % 0 1996 1997 1998 1999 00 01 02 03 04 05 06 Base - The UK Graduate Careers Survey 1996-06 10
Chart 2.2 Finalists Plans for After University in 06 Expecting to start a graduate job 24% Expecting to be looking for a graduate job 16% Expecting to take other work 8% Intending to do a postgraduate course 24% Taking time off or going travelling 16% No definite plans 12% 0 60 80 100 Base - Face-to-face interviews with 16,452 final year students Percentage of finalists Table 2.3 Finalists who expect Graduate Jobs Table 2.4 Finalists who plan Further Study School of Economics Aston Strathclyde Imperial College Bath Belfast Queen s University Loughborough University College Newcastle Oxford Warwick Bristol Edinburgh Reading Cardiff Manchester Southampton York Glasgow Nottingham Sheffield Lancaster Liverpool Durham Exeter Birmingham Cambridge Leeds St Andrews Dublin Trinity College SURVEY AVERAGE % of finalists 68 61 55 53 52 50 44 42 42 42 39 38 38 37 37 37 37 36 36 36 35 35 34 34 33 32 32 32 28 Dublin Trinity College St Andrews Cambridge Glasgow Warwick Imperial College Oxford Birmingham University College Durham Manchester Bristol Sheffield Lancaster York Edinburgh Exeter Reading Southampton Belfast Queen s University Cardiff School of Economics Loughborough Leeds Nottingham Liverpool Newcastle Bath Aston Strathclyde SURVEY AVERAGE % of finalists 34 33 31 30 29 29 28 28 26 26 25 25 24 24 23 23 23 23 22 22 21 21 19 19 17 13 11 24 11
Applications to Employers The survey measured applications to employers in 05-06 in three ways finalists who had already applied to different career sectors by the time the survey took place in late February, students who stated that they intended to make applications later in the year, and a combination of all these applications. The results for applications already made show that investment banking was the most popular destination for the third year running, ahead of accountancy, consulting and marketing. It is worth noting that although accountancy remains in second place, the volume of students who applied to the sector is at its highest level since 1999. Several other career destinations attracted significantly more early applicants in 05-06 compared with the last recruitment season, including consulting, marketing, finance, the media and actuarial work. Early applications were down, though, for engineering, law, the Civil Service and retailing. In many career sectors, the number of finalists planning to make applications later in the academic year is a little lower than was recorded a year ago. Fewer finalists intended making late applications for the five most popular sectors the media, teaching, marketing, research & development, and charity or voluntary work. However, more students anticipated applying for last-minute jobs in accountancy and at investment banks than did so at this point in 05. By combining these early and late applications together, the resulting table shows the top five destinations for 06 are media, teaching, investment banking, marketing and accountancy (see Table 2.5). This is the highest ranking for investment banking since the survey began in 1995 and the first time that the accountancy sector has appeared in the top five destinations. Comparing the full list of applications with the similar table from 04-05 (see Chart 2.7), it is clear that the level of interest in eight individual sectors has increased, it remains unchanged for two but has decreased in thirteen. Table 2.5 Career Sectors that FInalists Applied to during 05-06 Table 2.6 Career Sectors that FInalists Applied to during 04-05 Media Teaching Investment banking Marketing Accountancy Consulting Science, research & development Charity or voluntary work Civil Service Engineering Law Human resources General management IT Finance Sales Retailing Armed Forces Buying or purchasing Property Police Actuarial work Transport or logistics % of finalists 12.4 11.9 11.1 11.0 10.8 10.3 9.8 8.6 8.5 7.5 6.6 6.2 5.3 5.2 5.0 4.9 3.9 3.1 2.6 2.4 2.1 1.9 1.7 Teaching Media Marketing Investment banking Science, research & development Civil Service Consulting Accountancy Charity or voluntary work Engineering Solicitor or barrister Human resources General management Sales IT Finance Retailing Police Armed Forces Buying or purchasing Property Actuarial work Transport or logistics % of finalists 12.7 12.7 11.7 10.8 9.9 9.9 9.9 9.3 8.6 8.1 7.6 6.5 5.9 5.6 5.2 4.9 4.1 3.6 2.9 2.5 2.5 1.7 1.6 12
Chart 2.7 How Applications Levels have Changed in 06, compared with 05 Accountancy Up 16% Actuarial work Up 12% Armed Forces Up 7% Transport or logistics Up 6% Consulting Up 4% Buying or purchasing Up 4% Investment banking Up 3% Finance Up 2% IT Charity or voluntary work Down 1% Down 2% Down 4% Down 5% Down 5% Down 6% Down 6% Down 7% Down 10% Down 13% Down 13% Down 14% No change No change Science research & development Media Property Human resources Retailing Marketing Teaching Engineering General management Sales Law Civil Service Down 42% Police - -30 - -10 0 10 30 Percentage change in applications made or planned in 06, compared with 05 Source - The UK Graduate Careers Survey 05 & 06 13
Views on Employment When asked about their perceptions of the graduate job market in 06, per cent thought there were plenty of jobs for finalists leaving university this summer (see Chart 2.8), up from 17 per cent last year and double the number from 03. A total of 61 per cent were more cautious and believed there are some graduate jobs, but not enough for everyone leaving university this summer and 19 per cent thought there are only limited graduate jobs available for those leaving university this summer. Together these results suggest that students in 06 are the most confident about the graduate job market of any of their predecessors from the previous five years. The view that there aren t enough graduate jobs to go round is certainly realistic though whilst the number of graduates leaving university has increased by almost two-thirds during the past decade of expansion in higher education, graduate level vacancies have grown by little more than 10 per cent over the same period. Research into finalists expectations in The UK Graduate Careers Survey shows that students who are planning to join the job market after university have a number of different aspects to consider when weighing up which employers to shortlist for job applications. To help identify how influential individual issues such as work-life balance, training & development, and initial remuneration are, this year s survey asked students who had already applied to employers the direct question When you were deciding which employers to apply to, which three factors were most important to you?. The results show a clear profile in terms of finalists priorities starting salary, content of work, quality of training & development location of jobs and using degree subject studied were the five factors mentioned most often, by a third or more job hunters (see Chart 2.9). Interestingly, issues such as employers corporate social responsibility record and the chance for further study both of which were highlighted as being important to student job hunters in other parts of the survey, were actually much lower down finalists concerns when deciding which organisations to apply to. The results differed considerably by institution content of work was the main preoccupation at thirteen universities including Oxford, Cambridge, Durham, Edinburgh, Nottingham, St Andrews and York; starting salary was the dominant influence at fourteen universities including Bristol, Lougborough, Warwick and the colleges; whereas using degree subject studied was the priority at the Queen s University Belfast, Lancaster and Strathclyde. Students who had not made applications by the time the survey took place (approximately half the final year population) were asked why not. Aside from those who weren t planning to join the job market at all, most replied that they had been concentrating on their academic studies at the expense of looking for employment (see Chart 2.10). Chart 2.8 Finalists Perceptions of the 06 Graduate Job Market There are plenty of graduate jobs for finalists leaving university this summer % There are some graduate jobs, but not enough for everyone leaving university this summer 61% There are only limited graduate jobs available for those leaving university this summer 19% 0 60 80 100 Base - Face-to-face interviews with 16,452 final year students Percentage of finalists 14
Chart 2.9 Most Important Factors when deciding which Graduate Employers to Apply to Starting salary 44% Content of work 44% Quality of training & development programme 37% Location of jobs 36% Using degree subject studied 35% Work-life balance 29% Opportunity for overseas experiences 21% Achieving a professional qualification % Additional benefits package 16% Chance for further study 14% Employer s corporate social responsibility record 10% 0 10 30 50 Base - Face-to-face interviews with 16,452 final year students Percentage of job hunters Chart 2.10 Finalists Main Reason for not making Graduate Job Applications I ve other plans for after university 49% I ve been concentrating on my studies instead 35% I haven t decided yet which employers to apply to 11% The sort of jobs I m looking for haven t been advertised yet 4% 0 60 80 100 Base - Face-to-face interviews with 16,452 final year students Percentage of finalists who had not made graduate job applications 15
Expectations for First Job Student job hunters were asked about the starting salaries and other elements of remuneration they were expecting after university. The average anticipated starting salary was,300, a rise of 2.5 per cent on the expected salary in 05. One in six job hunters believed they would earn a modest 15,000 or less but at the upper end of expectations, 17 per cent of job hunters thought they would be earning at least 25,000 for their first job. The most demanding students were those at the School of Economics and Oxford where average expected salaries topped 25,000 for the first time (see Table 2.11). Finalists at another eleven universities were not far behind with average expectations of at least,000. It is interesting to compare these financial expectations with the graduate salaries actually being offered by employers this year. A study of the organisations featured in Top 100 Graduate Employers reported that average starting salaries for 06 would be 23,800, well above many students apparent expectations. For the twelfth consecutive year, was the leading destination for job hunters in 06 and per cent hoped to start work in the capital after graduation. There are a further 5 per cent of the Class of 06 who wanted to work in the south east of England, (see Chart 2.13) which means that nearly half of graduate job hunters expected to be employed in or around the M25 this year. This means the number of graduates aiming to work in other parts of the UK or beyond remains small the next most-popular destinations were the north west of England, the Midlands and Scotland (each with 6 per cent). Indeed, was the top destination for students at twenty-three of the thirty institutions in the survey (see Table 2.12). Table 2.11 Average Expected Starting Salary Table 2.12 Preferred Location of First Job School of Economics Oxford Imperial College Cambridge Warwick University College Bath Bristol Durham Nottingham St Andrews Manchester Dublin Trinity College Aston Edinburgh Birmingham Loughborough Exeter York Reading Leeds Southampton Belfast Queen s University Newcastle Sheffield Glasgow Lancaster Liverpool Strathclyde Cardiff SURVEY AVERAGE Average Expected Starting Salary 26,700 25,000 24,500 23,900 22,600 22,0 21,0 21,0 21,100 21,000,800,300,100 19,900 19,900 19,600 19,600 19,300 19,300 19,0 19,100 19,100 18,700 18,700 18,600 18,0 18,0 18,0 17,800 17,700,300 Aston Bath Belfast Queen s University Birmingham Bristol Cambridge Cardiff Dublin Trinity College Durham Edinburgh Exeter Glasgow Lancaster Leeds Liverpool Imperial College School of Economics University College Loughborough Manchester Newcastle Nottingham Oxford Reading Sheffield Southampton St Andrews Strathclyde Warwick York Preferred Region Northern Ireland Wales Ireland Scotland North West North West Scotland 16
Chart 2.13 Job Hunters Preferred Location for their First Graduate Job after University Scotland 6% of finalists Overseas 18% of finalists Yorkshire & Humberside 4% of finalists North West England 6% of finalists North East of England 2% of finalists Northern Ireland 2% of finalists East Anglia 1% of finalists Ireland 2% of finalists Wales 2% of finalists South West 4% of finalists The Midlands 6% of finalists South East 5% of finalists % of finalists Base - Face-to-face interviews with 16,452 final year students 17
Aspirations for the Future Student job hunters were asked about what they thought they might have done in their working and personal lives by the age of 30 a point that must seem far-off in the future for the majority of undergraduates. The results show that most finalists anticipated that they would own a house or flat and a fifth expected to have acquired at least two cars. More than half expected to be married although only a third believed they would have started a family. In employment, almost half thought they would have achieved a professional qualification and 39 per cent expected to have completed a postgraduate course. A quarter were confident they would have reached a senior management position and more than half would like to have lived and worked overseas for a period. A sixth of finalists expected to have worked for three or more organisations. Fewer than one in seven had aspirations to start their own business but 12 per cent of job hunters hoped to be earning 100,000 by the age of thirty, An optimistic 4 per cent imagined they would have earned enough to retire not an inconsiderable challenge for less than ten years of employment. Chart 2.14 Things Final Year Students Expected to have done by the Age of 30 Own your own house or flat 77% Be married 57% Lived and worked in a different country 52% Have achieved a professional qualification 48% Have completed a postgraduate course 39% Have children 35% Have reached a senior management position 28% Own two cars 21% Have worked for three or more organisations 17% Have taken a career break 17% Set up own business 14% Be earning at least 100,000 per year 12% Have earned enough to retire 4% 0 60 80 100 Base - Face-to-face interviews with 16,452 final year students Percentage of final year students 18
Chapter 3 Finalists Views on University Key Findings The vast majority of final year students enjoyed their time at university Over three-quarters were pleased with their choice of course and institution Fewer finalists felt their time at university had prepared them for work xxx Background Over the last six years since tuition fees of approximately 1,000 per year were introduced for students at universities in England, the debts for new graduates have risen from an average of 5,900 in 01 to 10,0 in 05. During this period there has been much discussion about whether this has turned the university experience into an investment and whether or not it is a worthwhile one for students to make. The debate has been fuelled further by the announcement that from the autumn of 06, new entrants to university will be expected to pay much higher tuition fees typically 3,000 per annum at many universitities in England although the fees will not be collected until a graduate leaves university and enters employment. This means that in addition to the debts built up from living costs at university currently estimated to average around 2,250 per year those studying on four-year degree courses can expect to owe a further 12,000 for their tuition fees. This implies a total graduation debt upwards of 21,000 for those finishing university in 10 or beyond. In anticipation of these significant changes, the 06 survey asked this year s finalists about their opinions on their time at university their views on their degree course, how they feel university has prepared them for life after graduation, whether they ve developed the skills and qualifications that will help them find a good graduate job, and their motivations for attending university in the first place. It also explored their attitudes to the new tutition fees, in light of their own experiences at university. The survey also records the level of debt that the Class of 06 graduates expected to have when they finish their degrees this summer. 19
Finalists Views on University and Preparing for Life after Graduation The results of this part of the survey shows that the vast majority of finalists were very positive about the university experience an impressive 91 per cent agreed with the statement I ve enjoyed being at university and would recommend it to others. The majority of these were pleased with their choice of degree course and were happy with the content of their course and the standard of teaching they d received (see Table 3.3). Over 80 per cent believed that the university they had attended and the course they d studied would help them secure a good job after university. However, noticably fewer felt that their time at university had equipped them with the skills that employers wanted and just 10 per cent strongly agreed that being at university has prepared me well for the working world. Just under half of finalists thought they d had enough support from their university in planning what to do after graduation (see Table 3.4). It is striking that although across the full survey more than two-thirds of finalists said that their main reason for coming to university was to improve their career prospects, there were very considerable differences at local level (see Table 3.1). For three-quarters of students at Liverpool, Southampton, Bath, Loughborough, Strathclyde, Aston and Queen s University Belfast, improving their career chances was the primary motivation for starting a degree. By comparison, just 42 per cent of finalists at Cambridge and 54 per cent of those at Oxford said getting a better job was the main reason they went to their universities. Table 3.1 Finalists whose main reason for going to university was to improve career prospects Table 3.2 Finalists who would not have come to university if faced with new 3k tuition fees Belfast Queen s University Aston Strathclyde Loughborough Bath Southampton Liverpool Exeter Glasgow School of Economics Birmingham Sheffield Cardiff Imperial College Newcastle University College Manchester Reading Bristol Leeds Lancaster Nottingham Warwick Dublin Trinity College Durham Edinburgh St Andrews York Oxford Cambridge SURVEY AVERAGE % of finalists 88 83 83 79 77 77 76 73 73 73 72 72 71 71 71 70 69 69 68 66 65 64 63 62 61 61 61 61 54 42 68 Belfast Queen s University Aston Glasgow Reading Sheffield Southampton Liverpool Loughborough Newcastle Lancaster Strathclyde Manchester Cardiff Leeds Edinburgh University College Bristol Birmingham Exeter Imperial College St Andrews Dublin Trinity College School of Economics York Bath Nottingham Durham Oxford Warwick Cambridge SURVEY AVERAGE % of finalists 64 58 49 49 48 48 47 46 46 43 42 39 38 38 37 37 36 35 33 32 32 31 29 29 26 25 24 23 23 13 38
With regard to future tuition fees, more than a third of today s finalists said that the imposition of higher fees would have discouraged them from doing a degree. A total of 38 per cent said they wouldn t have come to university if they d been expected to pay 3,000 or more per year for tuition. At two universities Queen s University Belfast and Aston over half of finalists said they would have been put off attending university altogether but fewer than a quarter of those at Nottingham, Durham, Oxford, Warwick and Cambridge would have been discouraged (see Table 3.2). It is particularly concerning that 41% of finalists originally from state schools would have been deterred by the new fees and that 42% of those training to be teachers and 43% of those planning to work as engineers both key skills shortages say they would not have begun their degrees at all Table 3.3 Final Year Students Views on their Time at University Strongly Strongly Don t Total Agree Agree Disagree Disagree Know Agree % % % % I ve enjoyed being at university and would recommend it to others. 52 39 1 1 7 91 The content of my course and standard of teaching & tuition was good. 23 61 10 3 3 84 I m glad that I chose the degree course that I ve been studying. 31 48 12 4 5 79 I wouldn t have come to university if I d had to pay tuition fees of 3,000+ per year. 15 23 36 17 9 38 Base - Face-to-face interviews with 16,452 final year students Table 3.4 Final Year Students Views on Preparing for Life after Graduation Strongly Strongly Don t Total Agree Agree Disagree Disagree Know Agree % % % % The university I ve attended will help me get a good job after graduation. 31 58 6 1 4 89 The subject I ve studied at university will help me get a good job after university. 29 53 10 3 5 82 My time at university has given me the skills that graduate employers are looking for. 15 58 15 3 9 73 My main reason for coming to university was to improve my career prospects 27 41 21 6 5 68 Being at university has prepared me well for the working world. 10 50 28 6 6 60 I ve had plenty of support from the university in planning what to do after graduation. 7 42 35 10 6 49 Base - Face-to-face interviews with 16,452 final year students 21
Graduation Debt The survey shows that the Class of 06 have amassed average student debts of 10,0. This is unchanged from 05 and very similar to the 10,300 recorded in 04, and the 10,100 reported in 03, suggesting that the cost of university studies have been stable for the last four years. Almost a fifth of finalists thought they would leave university with no debts, either because of income from part-time work, funding from graduate employers, or generous parental support (see Table 3.6). This included nearly half the students at s Imperial College, a third of those at the School of Economics and s University College, and at least a quarter of those studying at Bath and Warwick. The highest average debts were for students in, Bath, Liverpool, Sheffield, Manchester and Aston all of whom face average debt levels of 11,000 or more (see Table 3.5). The lowest predicted graduation debts were at Dublin s Trinity College (where Irish students do not pay tuition fees), and Strathclyde and Glasgow (where many students opt to live at home for their studies and Scottish students have a different tuition fees regime). Generally, students living in the largest towns and cities seemed to have both the biggest debts and the largest numbers of individuals affected by debt, although there are a sizeable number of finalists at the colleges who claim they will graduate without any student overdrafts or loans. Table 3.5 Average Debts on Graduation Table 3.6 Finalists with No Student Debts Imperial College School of Economics Bath University College Liverpool Sheffield Manchester Aston Loughborough Lancaster Warwick Bristol Durham Exeter Cardiff Leeds Newcastle Reading Nottingham Birmingham Southampton York Oxford Cambridge Edinburgh St Andrews Belfast Queen s University Glasgow Strathclyde Dublin Trinity College SURVEY AVERAGE Average Debt 13,800 12,800 11,900 11,600 11,300 11,300 11,0 11,100 10,900 10,700 10,700 10,600 10,600 10,600 10,500 10,500 10,500 10,500 10,0 10,300 10,300 10,300 10,0 10,000 9,900 9,900 8,800 8,700 8,100 5,000 10,0 Dublin Trinity College Imperial College School of Economics University College Bath Warwick St Andrews Bristol Manchester Sheffield York Strathclyde Aston Birmingham Loughborough Cambridge Edinburgh Glasgow Oxford Nottingham Durham Southampton Lancaster Leeds Belfast Queen s University Cardiff Newcastle Reading Exeter Liverpool SURVEY AVERAGE % of finalists 55 45 35 35 28 27 24 23 23 21 19 17 17 17 16 16 16 16 14 13 13 10 10 9 8 8 8 6 6 18 22
Chapter 4 Job Hunting in 05-06 Key Findings 83% of final year students used local careers services either in person, online or via their degree course during 05-06 Consultations with careers advisers were very popular at manylocal university careers services had the highest readership of the national newspapers More finalists read Career in than any other newspaper job section Background During 05-06, several hundred employers have been actively targeting students at the universities in the survey. With countless different application processes and a confusing array of entry requirements and recruitment timetables to consider, looking for a first graduate job can be an intimidating and bewildering experience. It is no surprise, therefore, that so many students turn to their university careers services as an invaluable local source of expertise and information. Local facilities differ from campus to campus from those based around a single room to entire dedicated buildings or departments but careers services are packed to the rafters with every conceivable job hunting resource. Students have access to up-to-the-minute vacancy information both online and in person, and careers advisors are available for those seeking professional guidance, offering frank one-to-one interviews to help students structure their job search. The survey examined how final year students used their local careers services in 05-06, measuring the overall attendance, the number of visits made by finalists, their usage of different facilities, and students views on the service. Students and graduates have long been considered key markets for national newspapers cultivating the next generation of adult readers and opinion-formers. The survey researched the national newspapers that students read regularly, the job sections they had used and the newspapers that they would be most likely to turn to in search of graduate job adverts. The full survey report also includes details of the student readership of over 100 careers guides and directories, usage figures for all the leading commercial recruitment websites, visitor numbers for over 50 local, regional and national careers fairs, and the impact of employers own graduate brochures, websites and campus presentations during the 05-06 recruitment season. 23
Usage of Careers Services The survey results show that a total of 83 per cent of final year students used their local university careers service in 05-06 (see Chart 4.1), well over twice the number who expect to join the job market after finishing their degree courses. From these, 65 per cent of finalists visited their careers service in person. This is a similar number to that reported last year but is well below the visitor levels that careers services attracted in the mid to late 1990s. The trend of declining careers service visitor levels since 1999 is largely due to the alternative ways in which students can now access careers service resources. The majority of careers services included in the survey offer a considerable amount of information and guidance through their websites, which allows many students to make use of their careers service without ever visiting the premises. Indeed, during 05-06, in addition to the 64 per cent of finalists who attended their careers services in person, there were a further 13 per cent of final year students who were regular users of their careers service s website without ever setting foot in the building itself. Over the last few years, many careers services have also sought to bring their resources directly to students by running careers modules or training sessions as part of the course curricula. This year 42 per cent of finalists participated in these in-course sessions, of whom 6 per cent did not visit the careers service nor use their website. Altogether, this means that 83 per cent of finalists had either visited their service in person, participated in a careers session during their studies or used their resources online a level of usage similar to the highest visitor numbers recorded in 1998 and 1999. In 05-06, the most popular resource was one-to-one consultations with careers advisers (see Chart 4.2). This is only the second time that these consultations have headed the list of activities that students used. An estimated 30,000 finalists across the thirty universities in the survey had a formal meeting with a careers adviser this year, underlining for employers just how influential individual careers advisers can be at their universities. Feedback from students suggests that most were impressed with their local careers service and on average, 74 per cent of visitors described their facilities as either excellent or good (see Chart 4.3). Chart 4.1 Finalists who used their University Careers Service during their Job Search 100 Percentage of finalists 80 60 80% 75% 85% 84% 75% 74% 68% 77% 86% 83% 83% 0 1996 1997 1998 1999 00 01 02 03 04 05 06 Base - The UK Graduate Careers Survey 1996-06 24
Chart 4.2 Facilities Used by Finalists who visited University Careers Services Met with Careers Adviser 54% Looked up information in employer files 44% Obtained directories or other careers publications 36% Collected brochures & employer literature 32% Had assistance preparing employer applications or CV 25% Found out about individual job vacancies for graduates 24% Attended interview practice or coaching for selection events 9% Practiced aptitude or ability tests 8% 0 60 80 100 Base - Face-to-face interviews with 16452 final year students Percentage of finalists who used university careers services Chart 4.3 How Finalists rated their local University Careers Services Excellent % Good 52% Average 22% Poor 4% Bad 2% 0 60 80 100 Percentage of finalists who used university careers services Base - Face-to-face interviews with 16,452 final year students 25
Readership of National Newspapers Once again, newspaper had the highest readership amongst final year students. Nearly a third of finalists were regular readers in 05-06 (see Chart 4.6), readership of The Guardian was unchanged at 22 per cent, The Independent increased slightly to 13 per cent,and the Daily Telegraph decreased to 11 per cent. This means that was the best-read newspaper at twenty-five of the thirty universities included in this year s survey (see Table 4.4). The Guardian was the leading title at the universities of Cardiff, Glasgow and Manchester. Strathclyde students were most-likely to be regular readers of The Herald and those at the School of Economics turned to the Financial Times. Finalists were asked specifically about whether they read the jobs sections published in each of the main daily national newspapers. was the most popular section and had been used by 34 per cent of finalists during 05-06. Almost a quarter of students had read Rise in The Guardian, but Jobs in the Daily Telegraph and Graduate in The Independent had only been seen by 13 per cent of students or less (see Chart 4.7). Locally, was the leading jobs section at twenty-nine universities but Rise in The Guardian was the preferred read at Glasgow (see Table 4.5). Finally, the survey asked students the direct question Which daily newspaper would you be most likely to look in for graduate jobs?. Two-fifths of students confirmed that they would turn to, ahead of a third who would use The Guardian (see Chart 4.8). Just a quarter said they would look in either the Daily Telegraph, The Independent or the Financial Times for job adverts. Table 4.4 Best-Read Daily Newspapers Table 4.5 Best-Read Graduate Job Sections Aston Bath Belfast Queens University Birmingham Bristol Cambridge Cardiff Dublin Trinity College Durham Edinburgh Exeter Glasgow Lancaster Leeds Liverpool Imperial College School of Economics University College Loughborough Manchester Newcastle Nottingham Oxford Reading Sheffield Southampton St Andrews Strathclyde Warwick York Newspaper with Highest Readership The Guardian The Guardian Financial Times The Guardian The Herald Aston Bath Belfast Queens University Birmingham Bristol Cambridge Cardiff Dublin Trinity College Durham Edinburgh Exeter Glasgow Lancaster Leeds Liverpool Imperial College School of Economics University College Loughborough Manchester Newcastle Nottingham Oxford Reading Sheffield Southampton St Andrews Strathclyde Warwick York Graduate Job Section with Highest Readership Rise in The Guardian 26
Chart 4.6 Readership of National Daily Newspapers 31% The Guardian 22% The Independent 14% Daily Telegraph 11% Daily Mail 9% Financial Times 9% 0 60 80 100 Base - Face-to-face interviews with 16,452 final year students Percentage of all finalists Chart 4.7 Graduate Job Sections that Finalists had Read in National Daily Newspapers 34% Rise in The Guardian 23% Jobs in Daily Telegraph 13% Graduate in The Independent 12% 0 60 80 100 Base - Face-to-face interviews with 16,452 final year students Percentage of all finalists Chart 4.8 Newspapers that Students were Most Likely to Look in for Graduate Job Adverts % The Guardian 32% Daily Telegraph 10% The Independent 9% Financial Times 8% 0 60 80 100 Base - Face-to-face interviews with 16,452 final year students Percentage of all finalists 27
Notes