Analysis of Labour Market for Graduates in UK

This document analyzes the labour market for graduates in the UK and the increasing demand for fresher graduates in new job roles. It also compares the employability of post-internship versus non-internship candidates. The document discusses the preferable skills required for graduates to enter the job market and provides an analysis of career prospects in the finance sector of the UK. It concludes with recommendations for graduates to enhance their employability.

Running Head: MANAGEMENT
Management
Student’s Name
University Name
Author’s Note

2
MANAGEMENT
Table of Contents
Introduction......................................................................................................................................3
Analysis of the labour market for graduates....................................................................................3
Comparison between employability of post internship versus non internship................................4
Preferable skills required for graduates to enter the job market......................................................6
Analysis of aerial parts for graduate candidates in finance sector of UK.......................................7
Medium term and long term career prospect analysis.....................................................................7
Recommendation and conclusion....................................................................................................8

3
MANAGEMENT
Introduction
There are several reasons for or going to University, including and natural love for the subject
that will be studied there, as well as a hope of getting an opportunity to experience adifferent
lifestyle. Higher education can be perceived to be something much more than only a production
line for developing work ready graduates.
Analysis of the labour market for graduates
In the time span of 2011 to 2013, employers of UK well confident about increasing their
graduate compere in comparison to graduate vacancies that had been there 4 to 5 years back
(Sarkar et al. 2016). Furthermore, the employers were hoping to enhance the rate of intake of the
graduates by 6.4 % more in the following year. On a General analysis it can be witnessed that in
2012, the rate of in taking graduates in various companies increased by 2.8 % compared to the
previous year and about 12.8% compared to 2010 (Minocha, Hristov and Reynolds 2017). At the
current situation, about half of the employees are expecting to recruit more graduates compared
to the previous years where as one fourth of the companies and not willing to take up extra
graduates. Analysing the reason behind the increasing demand of fresher graduates in new job
roles, Zwysen and Longhi (2018), identify the emergence of about 500 extra job roles year on
year. This is the reason for the creation of additional vacancies. As a natural outcome of this
Vinichenko et al. (2016), find that the public sector employers are steadily planning to enhance
the number of job openings for graduates by at least 20 2.9% in comparison to what it had been
in the year 2012. Most interestingly, Drydakis (2015), notes that regardless of the overall
recruitment fees in the government departments as well as agencies in UK, the trend for
enhancing the intake of graduates is gradually upscaling. The national employment statistics of
UK shows that there will be significant increase in demand for graduate job seekers in the

4
MANAGEMENT
companies of engineering as well as industrial domain also. As suggested by researchers like
Jones et al. (2017), the increasing demand for graduate job seekers in this sector of UK is
supposed to increase by about 21.4 percent in the latest year and upcoming two to three years,
compared to what it had been in the financial year 2012 to 2015. However the graduation trends,
market expansion scope and selection of subject by buy fresh University students shows that it
can be happy and that maximum job opportunity for UK based students will be in the IT and
telecommunication sector since 2020. It is expected that job opportunity for the graduates of UK
in this sector will increase about 30 1.5% compared to the last decade. The High Street banks,
mostly of foreign origin, operating in UK are also looking forward to employ about 60% more
graduates compared to 2012 and so are the big retail organisations who are employing about
11% more graduates (Tholen et al. 2016). Average analysis of job openings, in UK in both
public sectors as well as private sector shows that 9 out of 10 employers are referring to employ
graduates. Other than public sector, the most brilliant scope for graduate job seekers is in finance
as well as IT vacancies.
Comparison between employability of post internship versus non internship
The current analysis of employment data statistics of UK shows that there is a trend of hiring
graduates who have relevant experience about the job roles. This implies that graduates you have
undergone internship programs or are having co-op experiences are mostly getting the full time
job offers. This is why are growing trend of conducting apprenticeship in several start up
companies is becoming common in UK. Huang and Turner (2018), observe maximum of the
accountancy as well as finance graduates working as apprentices for six months after graduation
so that they can find full time employment in big finance organisations or significant finance
related job role in the public sector of UK.

5
MANAGEMENT
On the contrary, the organisations where employee retaining rate is very high are emphasising on
setting up internship programs where they are employing graduates on a lower pay scale and
then providing them employment on full term basis, as well as training during the period of
probation. It has been experience that the recently graduated employees who are able to cope up
with the work culture and come in to sync which their job roles during the probationary training
periods are exhibiting high retention rates which new employers in any job domain. Now,
researchers like Vinichenko et al. (2016), identify that big private corporate firms have
employment Scouts working in Association with various colleges and that is why they are
successfully tracking the success rate and achievement patterns of the fresh graduates. The
outcome of such employment initiatives is that employers are great leap referring candidates who
have internship experience with any similar organisations. according to the reports published by
the National Association of colleges and employers experiential education survey, the employers
of UK ready to provide extended job offering to about 70% of their interns as well as trainees.
They do not want to let away the resources invested in developing new capabilities among the
interns to go into productivity in some other company. In the year 2002, the trend was that only
about 50% of the employers wanted to retain their intern employees. Almost 90% of the
employers to provide first hand on job training to the Employees are of the opinion that they are
satisfied with the progress and development that their employees are able to attend within the
stipulated time considering, they use most efficient tools for their internship program. Naturally,
from analysis of the emerging Trends of employability in UK it can be reflected that the
graduates of modern days are very much job ready. Analysing the reasons behind this,
McMurray et al. (2016), identify that the colleges as well as universities are looking forward to
make the graduates oriented with the working atmosphere and that is why they are undertaking 2

6
MANAGEMENT
to 3 more practical workshops for every year. The college assignments required the students to
provide more insight into the industry atmosphere of UK because of which we are also able to
understand what the employers demand from them. The first hand job experience through
internship programs and co-op initiatives of the colleges are now offered to students at
graduation level only.
Preferable skills required for graduates to enter the job market
Analysing the employment data of UK from the last 10 years it seems that there are various
opinions on the meaning of employability and there is a widespread understanding of various
employers regarding the qualities, features, knowledge as well as a skill there are looking
forward to in terms of general employment among the candidates and especially in the graduates.
The two most important skills that employers of UK expect the graduates to have are alignment
with practical working atmosphere and high and discipline skills from their degrees. The colleges
are also acknowledging this demand of the employers and that is why the graduates are getting
the experience as well as knowledge needed for entering new job through paid internship
programs in the colleges. It is beneficial for the graduates to undergo internship program at the
college since after the end of 6 months of internship programs they are getting the same Pay
Scale in the companies that is receivable by their colleague who are not strained and currently
undergoing training and development programmes in the companies (Behle et al. 2015). The
structure of candidate payment for the graduation students is formulated by the form of skill,
experience as well as knowledge they are accumulating by being in the job environment, either
in the training and development classes of the companies for the internship program of the
colleges and the quality of reference they are getting at the end of such programs. So far as job
skills are concerned, in order to enter the higher rank companies of UK, along with the core

7
MANAGEMENT
skills and knowledge former attitude has also an important role to play in order to develop a
considerable stand in the labour market of the country. The skills that are required for or job
entry and quick and prompt promotion are interpersonal skills, numeracy as well as analytical
skills, good oral as well as written communication skills, creativity and imagination over
management of tasks, team working spirit, organisational potential and lastly business and
commercial acumen, driven by ambition (Comunian, Faggian and Jewell 2015).
Analysis of aerial parts for graduate candidates in finance sector of UK
There are jobs in almost every emerging as well as established company of UK for the finance
graduates commerce in various positions are offered to number of candidates with different skills
as well as interests. It is important for the graduates to remember that various financial jobs
required various skills and different working environment. That is why, the internship program at
the practical assignments should be chosen carefully by them. Someone might deserve to become
a financial advisor where as other candidates might enjoy working as public accountants.
However, considering the statistics of references provided by fresh graduates in finance as well
as the job vacancies for various finance related job roles, it can be analysed that the most
common career opportunities for finance graduates of UK are in public accounting, private
equity, hedge funds, commercial as well as retail banking, financial planning, insurance venture
capital as well as corporate finance.
Medium term and long term career prospect analysis
Medium as well as long-term prospects in specific career opportunities can be divided into four
levels. First two hour for short term and the rest two are for longer term. In the initial phase,
employees get maximum opportunity in the companies in form of of training, apprenticeship or

8
MANAGEMENT
by means of co-op link up with the colleges. This phase consists of an average time span of 12
months. In this phase, survival is the most important Outlook for an employee rather than
earning. The second span of a candidate in a company is that of a learner. He or she will be
facing more difficult challenges in the company in this time since the hurdles of the new job
rules will appear most difficult to him in this phase. This time period is a test of the attitude as
well as the code jobs skills attained by the graduate candidates in college. Workplace atmosphere
during this phase of employment is specifically difficult for the employees who have to manage
job roles like direct client handling for customer relationship. They need to employ marketing as
well as selling skills by dint of which they have to find the right people to interact with.
In the next 4 to 8 years, the candidates look forward to implement innovations in their job role.
This is because, as Comunian, Faggian and Jewell (2015), explains, which is the time when the
employees are not looking forward to shift to a new job, rather they are interested about
showcasing their talent to deliver value to the organisation. This implies that they have
something unique in them which only taken offered to the organisation.
Recommendation and conclusion
In conclusion, in order to prove the skills needed for graduates to find employment in UK and
apply what they have learnt in the colleges, it is recommended that they have enrolled
themselves in certificate courses like practical workshops, internship programs and other such
Ventures. This implies that the employer’s of modern days are looking forward to the extent to
which the graduates can reflect the theoretical experience into practical work challenges. This
mind-set of the employers is reflected in the provision of pay scale to the graduates who are
having experience of working in corporate job atmosphere. However, the employers do not want
experienced candidates, but at the same time then need the graduates to have idea about the real

9
MANAGEMENT
life job roles and working environment. Other factors like strong work Ethic, The Hunger to
prove themselves in the current job setting and the urge to getting better salary by the teeth of
talent are the factors prevalent among the fresh graduates which the employers want to utilise.
Finally, in summing up the current job atmosphere in UK, it can be concluded that compared to
the last decade there are 22 25% more job openings for graduates in various sectors including the
public sector and 9 out of 10 organisations are ready to provide employment to the graduate
candidates. The most common requirement for graduates is in the finance as well as it
departments of both public and private sectors of UK.

10
MANAGEMENT
Reference List
Behle, H., Atfield, G., Elias, P., Gambin, L., Green, A., Hogarth, T., Purcell, K., Tzanakou, C.
and Warhurst, C., 2015. Reassessing the employment outcomes of higher education. In
Researching higher education (pp. 114-131). Routledge.
Comunian, R., Faggian, A. and Jewell, S., 2015. Digital technology and creative arts career
patterns in the UK creative economy. Journal of education and work, 28(4), pp.346-368.
Drydakis, N., 2015. Economics applicants in the UK labour market: University reputation and
employment outcomes. International Journal of Manpower, 36(3), pp.296-333.
Huang, R. and Turner, R., 2018. International experience, universities support and graduate
employability–perceptions of Chinese international students studying in UK universities. Journal
of Education and Work, 31(2), pp.175-189.
Jones, P., Pickernell, D., Fisher, R. and Netana, C., 2017. A tale of two universities: graduates
perceived value of entrepreneurship education. Education+ Training, 59(7/8), pp.689-705.
McMurray, S., Dutton, M., McQuaid, R. and Richard, A., 2016. Employer demands from
business graduates. Education+ Training, 58(1), pp.112-132.
Minocha, S., Hristov, D. and Reynolds, M., 2017. From graduate employability to employment:
policy and practice in UK higher education. International Journal of Training and Development,
21(3), pp.235-248.
Sarkar, M., Overton, T., Thompson, C. and Rayner, G., 2016. Graduate employability: Views of
recent science graduates and employers. International Journal of Innovation in Science and
Mathematics Education (formerly CAL-laborate International), 24(3).

11
MANAGEMENT
Tholen, G., Relly, S.J., Warhurst, C. and Commander, J., 2016. Higher education, graduate skills
and the skills of graduates: the case of graduates as residential sales estate agents. British
Educational Research Journal, 42(3), pp.508-523.
Vinichenko, M.V., Frolova, E.V., Kabanova, E.E., Kozyrev, M.S. and Evstratova, T.A., 2016.
The youth employment problems. Journal of Advanced Research in Law and Economics, 7(2
(16)), p.407.
Vinichenko, M.V., Makushkin, S.A., Melnichuk, A.V., Frolova, E.V. and Kurbakova, S.N.,
2016. Student employment during college studies and after career start. International Review of
Management and Marketing, 6(5S), pp.23-29.
Zwysen, W. and Longhi, S., 2018. Employment and earning differences in the early career of
ethnic minority British graduates: the importance of university career, parental background and
area characteristics. Journal of Ethnic and Migration Studies, 44(1), pp.154-172.