University of Westminster |
Researching the Graduate Labour Market |
BKEY501: Research and Professional Practice |
Student Name: Naseer Faruque |
Module Leader: Course: Business Management & Marketing Student Number: W1332886 |
Word Count: 1531
Executive Summary 2
Graduate Labour Market2
Analysis of the current graduate labour market both general and specific 2
Analysis of the graduate labour market in general2
Analysis of employability of post-internship vs non-Internship Candidates2
Identify skills, knowledge & ...view middle of the document...
The value of internship is indispensable as it lets a graduate have an advantage over other students when trying to ‘stand out from the crowed’, apart from attracting employers taking an internship improves a student’s overall degree results.
This report will include various topics about the graduate labour markets. It will give an analysis of:
* The current graduate labour market both general and specific.
* The skills, knowledge & aptitudes required from internships to enter the market.
* A normal career path for a post internship candidate in the marketing gradation market.
* The medium and long term prospects for employment post.
* The value of internship.
3. Graduate Labour Market
4.1. Analysis of the current graduate labour market both general and specific
Analysis of the graduate labour market in general
Currently the graduate labour market has been affected by economic recession, with the lack of job opportunities there is a greater competition for graduate vacancies amongst university graduates. “At the start of the recession the unemployment rate for new graduates was around twice that of the UK…By the end of the recession the rate for new marketing graduates was 2.3 times higher" (18.5% compared to 7.9%)”(National Statistics,2011).
Applications for vacant jobs have also intensified from 2009, “Applications to employers have increased by 11% in 2012 and recruiters have received an average of 52 applications for each of their graduate vacancies this year. Applications levels are now more than 25% higher than three years ago, partly because of the large number of graduates from previous years who failed to find work at the end of their studies.” (Highfliers,2012). From the Highfliers journal we can see that is a backlog of graduates looking for woprk which means that people that who have graduated already would have a greater chance of finding a job as they have been looking for longer.
And an increase of number of university graduates applying to employers from 2009-2010 showed that “39% of employers has received many more graduate applications” and “59% of applicants applying are currently in their final year” (GM Report,2010)
This journal quote demonstrates that graduates are applying before they finish their final year to get an early presence within the graduate market so they can secure a job straight after they finish
Analysis of the specific graduate labour market in Marketing show that it is more difficult since the start of the recession as there is less marketing job opportunities From the start of the recession the Marketing graduate market has had a reduction of a “-28.7% change in the graduate vacancies of Accounting & Professional Services” (Highfliers,2010).
4.2. Analysis of employability of post-internship vs non-Internship Candidates
Undertaking an Internship is now vital to secure a job with, the skills and experience learnt from...