The economic downturn has hit the financial sector hardest, with 47 per cent fewer graduate entry-level jobs, but it’s not looking good for other sectors either. Huge cuts across the board make this one of the worst years to graduate for two decades.
The survey, carried out by High Fliers, also noted that most employers had already filled their 2009 vacancies, with some closing off applications early. These figures are particularly worrying given that recruitment was also substantially reduced last year.
“Given the high levels of debt currently being accrued by students because of fees, these figures will be extremely worrying for those who are preparing to graduate in 2009,” says NUS President Wes Streeting.
Down but not out
Not the story that graduates hoped for when they signed up for their degrees then. But it's not all bad news, says Dr Charlie Ball from careers experts Graduate Prospects. There are ways to get your career on track, whether you find your dream job this year or next.
“It’s important to remember that whilst the employment market will be very tough this year, there are still jobs out there, and there will be jobs available this summer. Competition will be tougher, but don’t lose heart,” advises Dr Ball.
Skills audit
One of the first things you should do, says Dr Ball, is to identify what skills you have, so when the time comes you are properly prepared to sell yourself to employers.
“A lot of graduates find it difficult explaining their experiences to employers. Make sure you are not one of them. Go to your careers service and talk to an advisor about how to organise your CV. Tell the advisor everything you have done during your studies, so they can help you translate these into job skills.”
Temporary measures
If you are lacking in key skills, Dr Ball suggests a period of temporary work to help you build up those all important skills that employers are searching for.
“If you can’t get the permanent post you want, try to get a temporary job. Later down the line, you’ll be looking for a permanent role and a period of work on your CV is better than nothing.
“Many graduates start their career temping in quite unlikely places (I started my career working as a temp in a shop selling herbal medicines), and you can often learn useful skills that you can take with you when you move on,” he adds.
Lending a hand
Volunteering is another way to try out different careers. This is dependent on your financial situation, of course, as most voluntary work is unpaid, but volunteering can be a good place to get to grips with an industry, and a very good way to network with people who could help you find paid employment, says Dr Ball.
“Remember – a lot of graduates (statistics suggest as many as a quarter) find jobs through word of mouth. So the more people you meet and deal with, the more chance you have of hearing about an opportunity.
More study
In a recession, more of us are likely to turn our attention to further study to improve our chances in the job market. “If you spend that time learning as much as you can about the industries you are interested in, and make contact with potential employers, you’ll be well-placed when recovery comes around again,” says Dr Ball.
It’s true that further study can help you upgrade existing skills and to change career altogether, but you must do your homework first. Postgraduate courses can cost anything from £2,000 to £28,000, so find out first if an extra qualification is what an employer is looking for.
Further information:
Careers advice from Graduate Prospects