The latest survey from the Association of Graduate Recruiters shows the state of the market. More than 200 of our members, who between them recruited more than 21,000 graduates last year, took part.
As well as providing predictions of graduate salaries and vacancies, the survey gauges employers' opinions on timely hot topics. We were interested to find out how recruiters viewed the development of two-year degree programmes, which condense the content of a traditional three-year course, and have been introduced by several universities this academic year. Interestingly, half of our recruiters surveyed had not heard of two-year degree programmes.
Typically, such degrees feature classes during the summer vacation and extra hours of tuition in term time, as well as reduced tuition fees, but we were keen to find out how recruiters gauged the impact on graduates' employability.
There was some positive response: members agree that covering the same content but faster would be good preparation for work. There was also strong agreement that what students learn is more important than how long it takes them. However, the majority expressed concerns that two-year degrees might have a negative impact on students' skills.
Though two-year courses might appeal to students keen to economise on fees, the recruiters we surveyed were worried that they might burden students with a heavy workload and prevent them from developing transferable skills through work experience or extra-curricular activities. They also felt that three-year degrees gave students time to develop intellectual maturity.
While one employer felt that the two-year degree would allow talent to emerge from universities quicker, doubts were expressed about the maturity levels of two-year graduates and the benefits for them:
"Personally, I think it really does the student a disservice," said the employer. "I think the purpose of university is not necessarily to go to university to get a job; it's more about personal learning, personal endeavour and becoming more mature with a different outlook and learning those broad level skills. I'm not bothered by what subject they did; it's more about what they learn along the way."
The premium on experience is also demonstrated by recruiters' interest in graduates who are not fresh out of university, but have one or two years' experience under their belts.
Of course, the job market remains competitive. While the survey did predict a 1.2% decrease in vacancies, this is a minimal drop in an essentially stable job market. This should be seen as reassuring news against an uncertain economy; despite some of the recent doom and gloom, the graduate recruitment market is well and truly open for business.
My advice is that graduates should spend time on their applications: you cannot be complacent about a job search. Apart from having a good degree, graduates need to be flexible with the location and sectors in which they are willing to work, and need to demonstrate transferable skills, such as the ability to work in teams and communicate well.
It is advisable to have a long-term plan to gain experience for that dream job – indeed, studies have shown that over the years graduates do gravitate towards the job for which they believe their degree has prepared them.
Indeed, graduates might find that a circuitous route to their ideal job will leave them better equipped to tackle it. Ultimately, when employers are recruiting people, it's not just a good degree that they are looking for; it is also the breadth of experience and transferable skills that you can bring to the role.
Carl Gilleard is chief executive of the Association of Graduate Recruiters. @AGRtweets
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