Ah, the first year of university. A carefree time of discovering yourself, throwing yourself into campus clubs and societies and, possibly, doing a bit of academic work – safe in the knowledge this year is going to count for little, if anything, towards your final degree. After all, you’ve got three, perhaps four, years before you need to start worrying about all that career and jobs stuff, right?
Wrong. Assuming current trends continue, the good news for all undergraduates is the graduate jobs market is continuing to improve. Indeed, for graduates taking their first steps into the world of work, the 2016 market is set to be among the most benign we’ve seen since the dark days of 2007-08.
Yet to assume you will be able to put off the whole employability issue until your final year and then just walk into a graduate scheme would be a big mistake.
As Christina Kerr, head of campus marketing and university relations at Barclays Bank, puts it: “Students are seeking opportunities earlier and earlier, and this is now matched by employers who are targeting graduates right from the first term and sometimes even before, so leaving your career search until the final year is probably not the wisest course of action.”
In fact, as employers gathered at London’s Grosvenor House Hotel for the TARGETjobs National Graduate Recruitment Awards, this was one of the key discussion points.
The TARGETjobs National Graduate Recruitment Awards are now in their 12th year and are the world’s largest student-driven graduate and school-leaver awards. This year they were determined by a record 52,000 students from 126 universities, with polling conducted by the trendence institute UK. Trophies were awarded in 29 categories, including 15 sector awards.
Alongside this, undergraduates from more than 30 different UK universities met at the Guardian’s offices to decide 10 student panel awards, including the Rising Star Award and three special awards focused on school leaver programmes and apprenticeships.
Barclays, winner this year in three categories – most popular recruiter in banking, insurance and financial services; best internship programme; and Rising Star – offers a week-long Spring Insight programme for first years, which takes place during the second term. This is a valuable first step in focusing your thinking around employment opportunities within, explains Kerr.
“The Spring Insight programme, which takes around 150-200 students a year, offers a broad insight into different areas of the bank. The week provides financial and business education through case studies, senior-level presentations and networking opportunities,” she says. The bank also takes on some 350 summer interns and 350 graduates, from a total of 20,000 applications.
“It is really almost about having a strategy for the whole three to four years of your programme – how are you going to go about getting an internship, making sure you engage with the careers’ service early, and so on. It is never too early to start,” agrees Ashley Hever, UK and Ireland talent acquisition manager for Enterprise Rent-A-Car, winner in 2016 of the coveted graduate employer of the year award as well as the advancement of social mobility in graduate recruitment category.
The car hire company takes on some 800 graduates a year, from around 25,000 applications and so, even with the improved hiring climate, getting on a training programme can still be a hugely competitive process.
“I think things are more upbeat. I think the message is getting out there that while, yes, the degree is important, it’s not the only thing. It’s just as important that you get involved on campus, that you join societies, do volunteering, gain work experience and do internships,” explains Hever.
“We are seeing more students who have done a year out, either abroad or in industry, which can be a fantastic experience for them. We tend to see fewer and fewer panicked final year students who come to interview with just their degree, having done nothing else,” he adds.
As well as the awards, the trendence institute UK’s research this year threw up some intriguing snapshots around how attitudes are changing when it comes to graduate job hunting.
First, while 62% of graduates believe getting a good job this year will continue to be tough, this is down on the 66% who said the same last year – indicative of the gradually returning confidence, and a figure that has been a downwards trend for some years now.
Alongside this increasing optimism, salary expectations are rising, with graduates now expecting a starting salary of £24,500, similar to the £24,600 reported in 2015, and considerably higher than the gloomy £21,600 reported in 2011.
But, at the same time, the importance of a high starting salary as a sell in its own right has fallen 28% in the past four years, while company culture has moved up the importance stakes by 5% in the same timeframe.
“When we look at the environment students are finding themselves in after graduation, it’s very different to the situation many faced four or five years ago for obvious reasons. Then it was all about simply getting a foot in the door, almost any door,” says David Palmer, UK research manager at the trendence institute UK.
“Now there is more optimism. The economic picture has improved and salary expectations are once again rising. But we’re also seeing more prioritising of things such as culture, outlook or environment, rather than just salary or prestige,” he adds.
This trend can be seen at the charity Cancer Research UK, winner in the most popular recruiter in scientific research and development category, which has seen rising numbers of graduates vying to get on to its eight-strong graduate programme, says the charity’s resourcing business partner Rachel Howard.
“We are small by comparison with the likes of big graduate employers such as Deloitte or KMPG, but we get a huge amount of interest,” she points out.
“We have around 3,000 applications every year, and the numbers have been rising year on year, so it is a very competitive programme to get on to.
“It is valuable to think more widely and creatively, to look at options beyond the traditional big graduate schemes. But it is also important to demonstrate what it is about you as an individual that sets you apart; it’s not just about your degree,” she adds.
Rising Star Award finalists
The Rising Star Award is chosen by the TARGETjobs’ panel of undergraduates. We spoke to three of this year’s finalists to ask how they would advise graduates to stand out from the crowd.
Katie Sands, 25 (overall winner) – Barclays
I did a BSc in geography with study in Europe at Bristol University, which included a year in Paris, which was amazing, graduating in 2012.
In my third year I did a 10-week summer internship with Barclays, at what was then Barclays Capital but is now known as Barclays Investment Bank, after which I was offered a place on the bank’s graduate programme. For the past 18 months I’ve been a programme manager within the graduate development team.
I oversee the training and development of individuals joining the programme, act as a coach and help them in their development. I think the fact I am a recent graduate myself – and have been through the programme – does help because they can relate to me and I can relate to them.
Alongside my role at Barclays, since joining I’ve made a point of trying to get involved as much as I possibly can with citizenship, community and diversity issues; it’s something I feel really passionate about.
A year and a half ago, for example, I became a school governor at my local primary school in Southwark and I’m involved in a lot of volunteering initiatives within my local community. I’ve hosted workshops with the Barclays LifeSkills youth employment programme, I do mentoring within local schools and I also read regularly with local primary school children.
When I was a student I was often lacking in confidence and sometimes doubted my ability. It’s very easy in that context to fall into the trap of trying to mould yourself, mould your personality, to what you feel the organisation wants you to be. But it’s important to try to remain your own person.
I’m also a great believer in the idea that the busier you are, the more you get done. So grasp any opportunities that come your way and ask lots of questions. Don’t just accept the status quo.
Tim Magee, 24 – HSBC
I graduated in July 2013 from Queen’s University in Belfast with a degree in economics and management. Banking had not been something I had really thought of as a career option before going to university but in my first year I went on a trip to London around some of the different banks and financial institutions, including HSBC at Canary Wharf.
It gave me a flavour of what banking had to offer graduates and interns and, when I looked into it, it just resonated with me. I joined HSBC’s two-year graduate training scheme in April 2014 and so I’m just now finishing it.
I’ve been on the operations graduate scheme, which is all about the back office banking functions. It’s important to be prepared to get stuck into things. I’ve always made a point of trying to pick things up quickly and take on new challenges.
For example, on my last placement I was working on the European banking operations side, on opening and servicing accounts, and so I took on the responsibility to look at how we could make the process faster and more automated.
I’ve also involved myself in the operations programme’s graduate forum. This has included arranging site visits for graduates on the programme to different parts of the bank and networking events with senior leaders. It’s been really enjoyable to do but has also extended my own network and profile within the bank.
When it comes to getting on a graduate scheme, I’d advise students to research the organisation closely and remember it is a two-way process; it’s as much a chance for you to look at them as them to look at you. So don’t be afraid to ask questions.
Once you’re on a scheme, put your hand up to any challenges or opportunities that come your way. Again, be prepared to ask lots of questions. Just get involved and go for things; really put yourself out there and challenge yourself.
Harriet Ruff, 23 – IBM
Although I studied English at the University of Leicester (including a year abroad in Geneva), I’ve always at heart been a bit of a techie and so, while IBM might have seemed to have been a curious choice, for me it actually made complete sense.
I graduated in 2014 and joined the scheme that autumn. It’s a two-year scheme and I work as a consultant within IBM’s social consulting team, working with clients around culture change, collaboration and social engagement.
I feel phenomenally lucky to have been given the opportunities I’ve had within IBM. In fact, I think of myself as something of a brand advocate for IBM, and have written blogs for IBM on that very topic. I always think that if you feel pride in what you do – whether that’s what you’re doing at university or when you’re in employment – you should pass that on and share it.
I’ve also been lucky to have been part of IBM’s Millennial Corps. This is a group of 30 IBM millennial ambassadors around the globe who have been brought together to work and engage with senior leaders on ways to transform the business and harness the knowledge of its younger workers.
Being part of this has meant I’ve been given the opportunity to speak at conferences and present to clients at a much more senior level than I might had otherwise. It’s also given me great exposure to senior people around the business.
TARGETjobs National Graduate Awards 2016 winners
Graduate employer of the year Enterprise Rent-A-Car
Most popular graduate recruiters:
Accounting and financial management: PwC
Banking, insurance and financial services: Barclays
Construction, civil engineering and surveying award: Arup
Consulting: PwC
Consumer goods, manufacturing and marketing: L’Oréal
Energy and utilities: BP
Engineering, design and manufacture: Rolls-Royce
Hospitality, leisure and tourism: Marriott International
Investment banking and investment: JP Morgan
IT and technology: Google
Law: Allen & Overy LLP
Logistics, transport and supply chain: British Airways
Public sector: MI6 – Secret Intelligence Service
Retail: Amazon
Scientific research and development: Cancer Research UK
Advancement of social mobility in graduate recruitment: Enterprise Rent-A-Car
Best use of social media: The Army
Best apprenticeship programme: IBM
Best school-leaver programme: National Grid
Apprentice of the year: Amber Westmoreland, EY
Best student marketing campaign (for organisations recruiting fewer than 50 graduates a year): Lidl
Best student marketing campaign (for organisations recruiting more than 50 graduates a year): Accenture
Best graduate recruitment website: The Army
Best undergraduate internship/vacation programme: Barclays
Innovation on campus: Thales
Rising Star: Katie Sands, Barclays
Diversity recruitment: FDM
AGCAS award for excellence in careers and employability service engagement: JP Morgan
