The Graduate Market in 2015
Availability of Work Experience in 2015 More than two-thirds of Britain’s top graduate employers are providing paid internships to penultimate year undergraduates during their summer vacations in 2015 (see Chart 4.2 ) and over half are hosting industrial placements – structured work experience that is organised as part of university degree courses (often described as ‘sandwich’ courses) and typically lasts between six and twelve months, giving students first-hand experience of technical, commercial or research roles. It is interesting to see that more than half of employers now offer work experience to first year students – either via paid internships and vacation placements, or through open days, short introductory courses or ‘taster’ experiences – a very noticeable increase on previous years. Together, the leading employers featured in the research are offering over 13,000 paid internships and work experience placements this year (see Table 4.4 ). This is the highest level ever recorded and an increase of 10% on the work placements provided during 2014. The number of work experience places available to students and recent graduates has now jumped by more than 40% since 2010, double the rate that graduate vacancies have risen over the same period. In 2015, the top employers are offering a median of 90 paid internships or work placements (see Chart 4.3 ) but fifteen organisations are providing more than 250 placements each. The leading investment banks have the most places available this year, with over 2,600 paid internships and work placements. It is striking that investment banking is one of just three sectors where the number of work experience places on offer from employers outstrips the number of permanent jobs available to graduates. Media companies, retailers and consulting firms have the lowest ratio of work placements to graduate jobs, making it harder for students interested in these areas to get relevant experience before they apply for graduate roles.
Chart 4.2 Type of Work Experience available at the UK’s Top Employers in 2015
Paid internships or vacation placements for penultimate year undergraduates
69%
Industrial placements as part of degree course, typically lasting 6-12 months
56%
Open days, introductory courses or taster experiences for first year undergraduates
39%
Paid internships or work placements for recent graduates
35%
Paid internships or vacation placements for first year undergraduates
29%
Pre-university placements for students during year-out
15%
0
20
40
80
100
60
Percentage of top graduate employers
Source - The Graduate Market in 2015
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