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TheGraduateMarketin2023

Annualreviewofgraduatevacancies&startingsalariesattheUK’sleadingemployers

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TheGraduateMarketin2023

3

Contents

Page

ExecutiveSummary

5

1.Introduction

7

ResearchingtheGraduateMarket

AboutHighFliersResearch

TheTimesTop100GraduateEmployers

2.GraduateVacancies9

JobVacanciesforGraduates

GraduatesRecruitedin2022

ApplicationstoEmployers&DiversityofGraduatesRecruitedin2022GraduateVacanciesin2023

3.GraduateStartingSalaries17

StartingSalariesforGraduates

GraduateSalariesin2023

4.GraduateRecruitmentin2022-202321

Employers’GraduateRecruitmentCampaignsin2022-2023

GraduateRecruitmentPromotionsin2022-2023

UniversitiesTargetedbyEmployersin2022-2023

GraduateApplicationsReceivedin2022-2023

Howarefinalistsfromthe‘Classof2023’faringinthepost-pandemic

graduatejobmaket?

Joinourstudentresearchprogrammetofindout.

Fornearlythreedecades,HighFliersResearchhas

conducteddetailedannualresearchintograduate

recruitmentattheUKuniversities,providingtop

employerswithanunrivalledinsightintotheattitudes

&aspirationsoffinalyearuniversitystudents.

TheUKGraduateCareersSurveyhasbeentracking

studentsfromthe‘Classof2023’,toexaminetheir

careerplansandexpectations,theirreactionstothis

year’son-campusandvirtualrecruitmentevents&promotions,andtheirapplicationsforgraduatejobsin2023.

Basedontworoundsofin-depthresearchwithfinalyearstudents

graduatinginthesummerof2023andinterviewswithupto15,000finalistsconductedinFebruary,theresearchprogrammeprovides

graduaterecruiterswithauniqueunderstandingofgraduatesleavinguniversitythissummer.

Tofindouthowyourorganisationcanjoinover70national&international

graduateemployersandaccesstheverylatestresearchonthe‘Classof2023’,emailsally.hyman@highfliers.co.ukortim.wise@highfliers.co.uk

5

TheGraduateMarketin2023

Foreword

ExecutiveSummary

TheGraduateMarketin2023isastudyofthelatestgraduatevacanciesandstartingsalariesattheUK’sonehundredbest-knownandmostsuccessfulemployers,conductedbyHighFliersResearchduringJanuary2023:

•GraduaterecruitmentatemployersfeaturedinTheTimesTop100GraduateEmployersincreasedsubstantiallyin2022,followingadramaticcutingraduatevacanciesin

2020atthestartoftheCoronaviruspandemicandalimitedrecoveryin2021.

•Thenumberofgraduatesrecruitedin2022jumpedby14.5%,comparedwithgraduaterecruitmentin2021,thebiggest-everannualincreaseingraduatevacancies,taking

graduaterecruitmenttoitshighestlevelyet.

•Thecountry’stopemployersrecruited3,500moregraduatesin2022thanhadbeen

expectedatthebeginningofthe2021-2022academicyear–andyear-on-yeargraduaterecruitmentincreasedinelevenoutoffifteenofthemostsought-afterindustries&

businesssectors.

•Inaremarkableachievement,oneofthe‘BigFour’accounting&professionalservicesfirmshiredmorethan2,300newgraduatesin2022–themosteverrecruitedbya

singleemployerintheUK–afterrecruitingfewertraineesthanusualduringthepandemic.

•Onaverage,employersreceived39applicationspergraduatevacancyin2022.

•Thelatestrecruitmenttargetsforthecountry’sleadingemployersshowthatthenumberofgraduatejobsavailablein2023isexpectedtoincreasebyafurther6.3%.

•Thistakesthenumberofgraduatevacanciesonofferto16%abovethanthepre-pandemicpeakingraduaterecruitmentrecordedin2019.

•Accounting&professionalservicesfirmsareexpectedtobethelargestrecruitersofnewgraduatesin2023,witharecord7,610entry-levelvacanciesavailablefor

university-leavers.

•ForthesecondyearrunninggraduatestartingsalariesattheUK’sleadinggraduateemployersaresettoincreasein2023,toanewmedianstartingsalaryof£33,500.

•Thisisanannualincreaseof£1,500,comparedtothestartingsalariespaidtograduatesin2022–andariseof11.7%since2020whenthemedianstartingsalariesatthe

country’sbest-knowngraduateemployerswas£30,000.

•Themostgeneroussalariesin2023arethoseonofferfromtheinvestmentbanks

(medianof£55,000),lawfirms(medianof£50,000)andconsultingfirms(medianof£47,500).

6

TheGraduateMarketin2023

•Thehighestpublishedgraduatestartingsalariesfor2023includelawfirms

White&Case(£52,000)andAllen&Overy,BakerMcKenzie,CliffordChance,

Freshfields,HerbertSmithFreehills,LathamWatkins,LinklatersandSlaughterandMay(each£50,000),technologycompanyTPPandretailerAldi(each£50,000).

•Withgraduaterecruitmentreturningtoa‘newnormal’atthestartofthe2022-2023

academicyearandthenumberofgraduatevacanciescontinuingtorise,themajority

oftheUK’sbest-knownemployersoptedtoreturntoin-personeventsanduniversitypromotionsfortheirgraduaterecruitmentmarketing.

•Feedbackabouton-campuspresentations&skillseventsandin-personcareers

fairswasparticularlypositive,withuptotwo-fifthsofemployerswhoparticipatedinthemdescribingtheeventsas‘verysuccessful’.

•Employershaveincreasedthenumberofuniversitiesthattheyhaveactivelymarketedtheirgraduatevacanciesatduringthe2022-2023recruitmentseason,toanaverageof27universities.

•Thetenuniversitiestargetedbythelargestnumberoftopgraduateemployersin2022-2023areManchester,Nottingham,Birmingham,Bristol,Warwick,Leeds,UniversityCollegeLondon,Cambridge,DurhamandSouthampton.

•AlmosthalfoftheUK’sleadingemployerssaidtheyhadreceivedmoregraduatejobapplicationsduringthisrecruitmentseason,comparedtolastyear.

•Onaverage,applicationsforgraduatevacancieshaveincreasedby8%year-on-year,withmoreapplicantsintenkeyindustriesandbusinesssectors.

TheGraduateMarketin2023

7

TheGraduate

Marketin2020

Annualreviewofgraduatevacancies&startingsalariesattheUK’sleadingemployers

TheGraduate

Marketin2021

Annualreviewofgraduatevacancies&startingsalariesattheUK’sleadingemployers

TheGraduate

Marketin2022

Annualreviewofgraduatevacancies&startingsalariesattheUK’sleadingemployers

Chapter1

Introduction

ResearchingtheGraduateMarket

WelcometoTheGraduateMarketin2023,theannual

reviewofgraduatevacanciesandstartingsalariesatthe

UK’stopemployers,producedbyHighFliersResearch.

Thisresearch,conductedduringJanuary2023,provides

afullassessmentofgraduaterecruitmentin2022and

looksaheadtohowmanyvacanciesareavailablefornew

graduatesin2023.

Italsoanalysesthelateststartingsalariesonoffertonewgraduates,reviewsthepromotionsemployershavebeenusingtopublicisetheirvacanciesduringthe2022-2023recruitmentseason,andthenumberofjobapplicationsemployershavereceivedsofar.

Thisisthe18thyearthatHighFliersResearchhasproduceditsindependentassessmentofthegraduatejobmarket.TheresearchisbasedonastudyofgraduaterecruitmentattheorganisationsnamedasTheTimesTop100GraduateEmployersfor2022inapollof12,432finalyearstudentstofind“Whichemployeroffersthebestopportunitiesforgraduates”.

AboutHighFliersResearch

Establishedin1994,HighFliersResearchisanindependentmarketresearchcompanywhichspecialisesinstudentandgraduateresearch.Ithasworkedwithmorethan200leadingemployerstomeasuretheimpactoftheirgraduaterecruitmentcampaignsoncampusandhelpthemunderstandtheirpositioninthegraduatejobmarket.

Thecompanyisbest-knownforTheUKGraduateCareersSurvey,its

comprehensiveannualstudyofupto15,000finalyearundergraduatesat

thirty-twoleadinguniversities,whichissupportedandfundedbyupto

70nationalandinternationalemployerseachyear.

Thesurveygivesemployersauniqueinsightintothecareerexpectations

andaspirationsoffinalyearstudents–justweeksbeforetheygraduate

–andprovidesadefinitiverecordoftheirsearchforagraduatejob.

HighFliersResearchalsohostsGraduateCareersLive!,atwice-yearlyTVbroadcastonthegraduatejobmarketanddegreeapprenticeships–forSixthFormstudents,theirparentsandcareersstaff,atschools&sixthformcollegesacrosstheUK.

In2020,HighFliersResearchdevelopedandlaunchedtheTop100ApprenticeshipEmployersfortheNationalApprenticeshipService,tocelebrateandrecogniseEngland’sleadingapprenticeshipemployers.

TheseprestigiousnewapprenticeshipemployerrankingsarenowproducedannuallybyHighFliersResearchfortheDepartmentforEducation.

TheGraduateMarketin2023

8

TheTimesTop100GraduateEmployers

AspartoftheresearchforTheUKGraduateCareersSurvey2022,atotal

of12,432finalyearstudentsfromthirtyleadinguniversitieswereasked

theunpromptedquestion“Whichemployerdoyouthinkoffersthebest

opportunitiesforgraduates?”.

Betweenthem,finalistsnamedover900differentorganisationsduringthe

survey–theonehundredemployerswiththemoststudentvotesformed

TheTimesTop100GraduateEmployersfor2022.

ItistheseemployersthatareincludedintheresearchforTheGraduateMarketin2023

report:

Accenture

Airbus

Aldi

Allen&Overy

Amazon

AmericanExpress

Aon

Apple

Arcadis

Army

Arup

AstraZeneca

Atkins

BAESystems

Bain&Company

BakerMckenzie

BankofAmerica

BankofEngland

Barclays

BBC

BDO

Blackrock

Bloomberg

BMWGroup

BostonConsultingGroup

BP

BT

Citi

CivilService

CliffordChance

Clyde&Co

CMS

CreditSuisse

Deloitte

DeutscheBank

Dyson

EnterpriseRent-a-car

EvershedsSutherland

EY

FreshfieldsBruckhausDeringerFrontline

GCHQ

GoldmanSachs

Google

GrantThornton

GSK

HerbertSmithFreehills

HoganLovells

HSBC

HughJames

IBM

IrwinMitchell

JaguarLandRover

JaneStreet

JPMorgan

KPMG

Kubrick

L’Oreal

Latham&Watkins

Lidl

Linklaters

LloydsBankingGroup

LocalGovernment

Mars

McDonald’s

McKinsey&Co

Mi5-TheSecurityService

Microsoft

MorganStanley

MottMacdonald

NatwestGroup

Newton

NHS

PAConsulting

PenguinRandomHouse

Pepsico

Pfizer

PoliceNow

Procter&Gamble

PwC

ReedSmith

Rolls-Royce

RoyalNavy

Santander

Savills

Shell

Sky

SlaughterandMay

Specsavers

TeachFirst

Tesco

THG

ThinkAhead

Tiktok

TPP

UBS

Unilever

Unlocked

Vodafone

White&Case

TheGraduateMarketin2023

9

Chapter2

GraduateVacancies

JobVacanciesforGraduates

ThefirstpartoftheresearchexaminesthenumberofgraduatesrecruitedbytheUK’sleadingemployersin2022andlooksaheadtothenumberofgraduatejobsonofferfromtheseorganisationsin2023.Thesevacanciesaretypicallypositionswithanautumn2023startdate,promotedtofinalyearuniversitystudentsduringthecurrent2022-2023academicyear.

ThenumberofgraduatesrecruitedbytheUK’sbest-knownandmostsuccessfulemployersdroppedbyalmostaquarterduringtheglobalfinancialcrisisandrecessionof2008-2009.Butinthedecadethatfollowed,therewereeightannualrisesingraduaterecruitment,increasingthenumberofgraduatevacanciesavailabletouniversity-leaversbymorethan40percentbetween2009and2019(seeChart2.1).

TheGraduateMarketin2021report,publishedbyHighFliersResearch,confirmedthattheCoronaviruspandemicbroughtthisextendedperiodofsustainedgrowthinrecruitmenttoanabruptendandemployerscuttheirgraduateintakebymorethan12percentin2020,butgraduaterecruitmentre-boundedbyover9percentthefollowingyear.

Chart2.1ChangestoGraduateVacanciesattheUK’sTopEmployers2008to2023

p6.2%

p4.3%

p3.3%

p7.9%

p2.5%

p2.8%

2008200920102011201220132014201520162017201820192020202120222023

Source-TheGraduateMarketin2023

p14.5%

p12.6%一/

.

q12.3%

q17.8%

p9.4%

q4.9%

q0.8%

p63%

q6.7%

p1.6%

10

TheGraduateMarketin2023

GraduatesRecruitedin2022

TheoveralleffectoftheCoronaviruspandemicongraduaterecruitmentin2019-2020wasthattheUK’sleadingemployersrecruited3,700fewergraduatesthanoriginallyplannedin2020–adropofmorethan12percentyear-on-year,insteadoftheexpectedannualincreaseof3percent.Thiswasthelargestannualdropingraduaterecruitmentforelevenyearsandthebiggestshiftinrecruitmenttargetsduringasingleacademicyearsince2008,thebeginningoftheglobalfinancialcrisisandrecession.

Althoughthecontinuingpandemicmeantconsiderableuncertaintyforgraduateemployersatthebeginningofthe2020-2021recruitmentround,theoutlookgraduallyimprovedduringtheyearandthefinalnumberofgraduatesrecruitedbythecountry’stopemployersin2021was9.4percenthigherthanin2020.

Asthe2021-2022academicyearbegan,employers’publishedgraduaterecruitmenttargetswerecautiousandinitiallysuggestedthatgraduatevacancieswerelikelytobesimilarin2022tothenumbersrecruitedin2021.

Butbythemid-pointintherecruitmentseasoninJanuary2022,considerableoptimismhadreturnedandemployersexpectedthattheirgraduaterecruitmentwaslikelytogrowbyanimpressive15percentin2022.Recruitmenttargetsintenkeyindustries&businesssectorshadincreasedsincethestartoftherecruitmentcycle,mostnotablyatthetopaccounting&professionalservicesfirms,technologycompanies,andengineering&industrialcompanies.

Chart2.2ChangestoGraduateRecruitmentattheUK’sLeadingEmployersin2022

Recruited100+graduatesmorethanin2021

Recruited51-100graduatesmorethanin2021

Recruited1-50graduatesmorethanin2021

Recruitedthesamenumberofgraduatesasin2021

Recruited1-50graduatesfewerthanin2021

Recruited51-100graduatesfewerthanin2021

Recruited100+graduatesfewerthanin2021

Didn’trecruitanygraduatesin2022

12%

11%

34%

14%

17%

6%

4%

2%

01020304050

Percentageoftopgraduateemployers

Source-TheGraduateMarketin2023

TheGraduateMarketin2023

11

Bythesummerof2022,graduaterecruitmenttargetsatmanywell-knownemployershadbeenincreasedfurther,asemployerssoughttomakeupforthereducednumberofgraduateshiredovertheprevioustwoyears.

Thislatestresearchconfirmsthatbytheendofthegraduaterecruitmentroundfor2022,theUK’stopemployershadrecruited3,500moregraduatesthanhadbeenexpectedatthestartofthe2021-2022academicyear.Thenumberofgraduatesrecruitedwas14.5percenthigherthanin2021,takinggraduaterecruitmenttoitsbest-everlevel,almost10percentabovethepre-pandemicpeakinrecruitmentrecordedin2019(seeChart4.1onpage9).

Atotaloffifty-sevenofthecountry’stopemployersincreasedthenumberofgraduatesrecruitedin2022,comparedwiththepreviousyear’srecruitment(seeChart2.2).

Graduaterecruitmentwashigherinelevenoutoffifteenindustriesandbusinesssectorsfeaturedintheresearchin2022(seeTable2.3).Thelargestriseswereataccounting&professionalservicesfirms,technologycompanies,andengineering&industrialcompanies,whichtogetherrecruitedover3,000moregraduatesthanin2021.

Oneofthe‘BigFour’accounting&professionalservicesfirmshiredmorethan2,300newgraduatesin2022–thehighest-evernumberofgraduatesrecruitedbyanindividualemployerintheUK–asitmadeupfortheunder-recruitmentoftraineesduringthepandemic.

Table2.3AnalysisofGraduatesRecruitedin2022,byIndustryorBusinessSector

Recruitment

Recruitment

Actual

%change

Vacancies

targetfor2022,

targetfor2022,

graduates

from

added(cut),

Industryor

aspublishedin

asrevisedin

recruitedby

recruitment

compared

BusinessSector

Sept2021

Jan2022

Dec2022

in2021

with2021

Accounting&professionalservices

5,800

7,424

7,752

p31.5%

1,856

ArmedForces

1,100

1,100

1,100

p1.9%

20

Banking&finance

1,525

1,654

1,693

p21.7%

302

Charity&voluntarysector

112

95

102

p3.0%

3

Chemicals&pharmaceuticals

190

144

96

q23.8%

(30)

Consulting

380

310

332

p36.1%

88

Consumergoods

270

273

269

p9.8%

24

Engineering&industrial

1,925

2,410

2,642

p30.5%

617

Investmentbanking

1,980

2,005

2,102

p7.9%

154

Law

866

892

1,010

p14.8%

130

Media

855

920

751

q5.9%

(47)

Oil&energy

140

138

154

p54.0%

54

Publicsector

4,690

4,748

4,331

q6.5%

(299)

Retailing

1,310

1,617

1,368

q5.0%

(72)

Technology

2,355

2,944

2,975

p40.4%

856

ALLSECTORS

24,378

28,411

28,107

p14.5%

3,865

Source-TheGraduateMarketin2023

12

TheGraduateMarketin2023

ApplicationstoEmployers&DiversityofGraduatesRecruitedin2022

TheconsiderabledisruptionthattheCoronaviruspandemicbroughttoboththe2020and2021graduaterecruitmentroundsinevitablyresultedinverydramaticfluctuationsinapplicationlevelsforgraduatevacanciesattheUK’sleadingemployers.

Graduaterecruitmentreturnedtoamorenormalbasisduring2021-2022andemployersreceivedanaverageof39applicationspergraduatevacancy(seeTable2.4)–averysimilarlevelto2018and2019,beforetheonsetofthepandemic.

Themostoversubscribedgraduateprogrammeswerethoseofferedbyconsumergoodsandoil&energycompanies,wheremorethanahundredgraduatescompetedforeachavailableposition.Graduateemployerswithlowerapplicationratesincludeengineering&industrialcompanies,accountancy&professionalservicesfirmsandpublicsectororganisations.Employersreceivedanaverageof12,300applicationsfortheirprogrammesin2021-2022.

Inadditiontorecordingapplicationnumbers,employerswerealsoaskedabouttheprofileofthegraduatesrecruitedin2022.Itshouldbenotedthatwhilstalmosteveryemployertakingpartintheresearchstressedthatdiversity&inclusionwasoneoftheirhighestpriorities,theywereonlyabletoprovidelimiteddataabouttheir2022cohortforthisanalysis.

Soalthoughmostemployersgavedetailsofgraduates’gender,onlyhalfsupplieddataontheethnicbackgroundoftheirgraduates,justathirdhadinformationongraduateswithdisabilitiesorlearningdifficulties,andfewerthanaquarterhadrecordedgraduates’sexualorientationoridentity,orknewwhethertheywerefromalowincomebackground.

Fromtheinformationthatwassuppliedbyemployers,52percentofgraduatesrecruitedin2022bythecountry’stopemployersaremale,48percentarefemaleandfewerthanonepercentarenon-binary(seeChart2.5).Twofifthsofgraduatesareblack,Asianorminorityethnic,oneintenhavelearningdifficultiesordisabilities,13percentareLGBTQ+,andoneinfivegraduatesarefromlow-incomefamilies.Theresearchalsoconfirmedthataquarterofgraduateshadbeenrecruitedthroughemployers’workexperienceprogrammes–andthatmorethanhalfhadstudiedatOxford,CambridgeoranotherRussellGroupuniversity.

Table2.4GraduateJobApplicationstotheUK’sTopEmployersin2021-2022

Average

applications

peremployer

in2021-2022

Accounting&

30,200

49.1

13,200

124.8

1,700

21.1

8,200

6,800

10,800

26,400

Source-TheGraduateMarketin2023

professionalservices

Banking&finance

Chemical&pharmaceuticals

Consulting

Consumergoods

Engineering&industrial

Investmentbanking

Industryor

BusinessSector

Law

Media

Oil&energy

Publicsector

Retailing

Technology

ALLSECTORS

Average

applicationsperemployerin2021-2022

2,900

9,300

9,600

10,400

7,000

13,500

12,300

29.5

59.1

60.5

76.0

357.1

33.3

90.0

Average

applicationsper

graduatevacancy

in2021-2022

46.1

Average

applicationsper

graduatevacancy

in2021-2022

67.3

41.5

39.3

Industryor

BusinessSector

TheGraduateMarketin2023

13

Chart2.5DiversityofGraduatesRecruitedbytheUK’sTopEmployersin2022

Gender

Male

Female

Non-binary

EthnicBackground

Asian

Black

Mixed

Other

White

Disabilites

Learningdifficultyordisability

SexualOrientation&Identity

LGBTQ+

SocialMobility

Low-incomefamily

University

OxfordorCambridge

OtherRussellGroupuniversity

Non-RussellGroupuniversity

WorkExperience

Recruitedviainternshiporotherworkplacement

Source-TheGraduateMarketin2023

52%

48%

<1%

23%

12%

5%

3%

56%

9%

13%

20%

5%

46%

49%

24%

80

100

0204060

Percentageofgraduatesrecruitedbytopemployers

14

TheGraduateMarketin2023

ExpectedGraduateVacanciesin2023

Atthestartofthenew2022-2023graduaterecruitmentcycleinSeptember2022,thepost-pandemiceconomicoutlookhadworsenedconsiderably,withtheBankofEnglandpredictingthattheUKeconomycouldfaceaprolongedrecessionduring2023.

Asaresult,employers’initialrecruitmenttargetsfortheyearaheadwerepessimistic,comparedwithgraduaterecruitmentduring2021-2022.This,combinedwiththeproposed‘pausing’oftheCivilServiceFastStream’s2023intake,suggestedthattherewouldbe6percentfewervacanciesforgraduatesleavinguniversityinthesummerof2023.

ThelatestassessmentofgraduaterecruitmentattheUK’stopgraduateemployersshowsthatsentimenthasimprovedoverthepastsixmonthsandtherehasbeenanoticeableincreaseinthenumberofgraduatesvacanciesonofferin2023(seeTable2.8).TheCivilServiceFastStreamhasgoneaheadwithrecruitmentforits2023intakeandgraduatevacanciesinsevenkeyindustries&businesssectorshavebeenstepped-upsincethestartoftherecruitmentcycle,mostnotablyatthetopaccounting&professionalservicesfirmsandotherpublicsectoremployers,whichhaveaddedmorethan2,500extraentry-levelpositions.

Three-fifthsofemployersarenowplanningtorecruitmoregraduatesin2023(seeChart2.6)andthemediannumberofgraduatevacanciesavailableforuniversity-leaversis150peremployer(seeChart2.7).Employersinatotalofelevenindustries&businesssectorsfeaturedintheresearchexpecttoincreaseormaintaintheirgraduaterecruitmentin2023andtogether,theyexpecttoincreasetheirgraduatevacanciesby6.3percent.

Chart2.6ChangestoGraduateVacanciesattheUK’sLeadingEmployersin2023

Recruiting100+graduatesmorethanin2022

Recruiting51-100graduatesmorethanin2022

Recruiting1-50graduatesmorethanin2022

Recruitingthesamenumberofgraduatesasin2022

Recruiting1-50graduatesfewerthanin2022

Recruiting51-100graduatesfewerthanin2022

Recruiting100+graduatesfewerthanin2022

Notrecruitinganygraduatesin2023

12%

9%

23%

29%

17%

5%

4%

1%

01020304050

Percentageoftopgraduateemployers

Source-TheGraduateMarketin2023

TheGraduateMarketin2023

15

Chart2.7GraduateVacanciesattheUK’sTopEmployersin2023

Recruiting500+graduates

Recruiting251-500graduates

Recruiting101-250graduates

Recruiting51-100graduates

Recruiting1-50graduates

Nograduatevacanciesin2023

01020304050

Percentageoftopgraduateemployers

Source-TheGraduateMarketin2023

Median-150vacancies

1%

29%

25%

14%

16%

15%

Table2.8AnalysisofGraduateVacanciesin2023,byIndustryorBusinessSector

Recruitment

Recruitment

%change

Vacancies

targetfor2023,

targetfor2023,

from

added(cut),

Industryor

aspublishedin

asrevisedin

recruitment

compared

BusinessSector

Sept2022

Jan2023

in2022

with2022

Accounting&professionalservices

6,075

7,610

p6.0%

428

ArmedForces

1,100

1,100

NOCHANGE

-

Banking&finance

1,790

1,666

q9.6%

(177)

Chemicals&pharmaceuticals

145

105

p5.0%

5

Consulting

485

500

p3.7%

18

Consumergoods

190

168

NOCHANGE

-

Engineering&industrial

2,510

3,555

p33.7%

897

Investmentbanking

2,320

2,412

p2.6%

60

Law

1,037

1,020

q5.3%

(57)

Media

920

681

q4.9%

(35)

Oil&energy

170

241

p56.5%

87

Property

150

160

NOCHANGE

0

Publicsector

3,720

4,822

p11.3%

491

Retailing

1,916

1,406

q3.6%

(52)

Technology

3,100

3,004

NOCHANGE

-

ALLSECTORS

26,428

29,800

p6.3%

1,745

Source-TheGraduateMarketin2023

16

TheGraduateMarketin2023

Summary&Conclusions

•GraduaterecruitmentatemployersfeaturedinTheTimesTop100Graduate

Employersincreasedsubstantiallyin2022,followingadramaticcutingraduatevacanciesin2020atthestartoftheCoronaviruspandemicandalimitedrecoveryin2021.

•Thenumberofgraduatesrecruitedin2022jumpedby14.5%,comparedwithgraduaterecruitmentin2021,thebiggest-everannualincreaseingraduate

vacancies,takinggraduaterecruitmenttoitshighestlevelyet.

•Thecountry’stopemployersrecruited3,500moregraduatesin2022thanhad

beenexpectedatthebeginningofthe2021-2022academicyear–andyear-on-yeargraduaterecruitmentincreasedinelevenoutoffifteenofthemostsought-after

industries&businesssectors.

•Inaremarkableachievement,oneofthe‘BigFour’accounting&professional

servicesfirmshiredmorethan2,300newgraduatesin2022–themostever

recruitedbyasingleemployerintheUK–afterrecruitingfewertraineesthanusualduringthepandemic.

•Onaverage,employersreceived39applicationspergraduatevacancyin2022.

•Thelatestrecruitmenttargetsforthecountry’sleadingemployersshowthatthenumberofgraduatejobsavailablein2023isexpectedtoincreasebyafurther6.3%.

•Thistakesthenumberofgraduatevacanciesonoff