Graduates from Yorkshire’s universities are earning more than £25,000 a year, with over than 80 % in full-time employment, according to the latest Gradcore Big Graduate Survey which will be unveiled at special reception at the Houses of Parliament with the All Party Parliamentary Yorkshire & Northern Lincolnshire Group today (Tuesday, December 17).
However, it warns that more must be done by the region’s policy makers and employers to encourage graduates to stay in the region, develop their careers here and make their contribution to the area’s economic growth.
Gradcore, which manages the yorkshiregraduates.co.uk, helps graduates, business and universities work together to deliver a career and recruitment solution to help university-leavers enter the workplace. The third annual Big Graduate Survey aims to measure the economic impact of the regions’ graduates.
The event in Westminster is sponsored by Lloyds Bank and hosted by former Gradcore chairman Lord Haskins who will outline a summary of the latest national research on graduate recruitment and the findings of the Big Graduate Survey.
The survey, which questioned 1,489 graduates, shows that graduate employment prospects improve significantly over time with salaries increasing considerably with the number of respondents earning more than £25,000 growing from just 5 % 12 months after graduation to 17 % three years post-graduation.
Meanwhile, graduates with a first class degree are more likely to earn more than £25,000, with 25% earning more than £25,000 upon entry into the labour market. This compares to their counterparts who achieved a 2:2 classification with just 7 % earning more than £25,000 upon entry into the labour market.
The survey also shows that student fees and career prospects remain a major concern when choosing which university to go to although the final decision of where to study remains centred on the quality of the course (26%) and the institution’s reputation (19%).
It also shows that graduates outside of the region are more likely to earn more with 22 % of respondents living outside Yorkshire earning in excess of £25,000 compared to 12 % of Yorkshire-based respondents.
A major concern raised by the study is the poor perception of the Yorkshire graduate labour market with more than 60 % of the respondents rating the job market as poor or very poor. There was also see a concerning trend with a reduction in internships, now down to 3 % of graduates which may partly be due to Government not taking action on the recommendations of the Wilson Report in providing funding support for internship programmes.
Lord Haskins, commenting on the survey, said: “One of the region’s greatest assets is its student cohort and it is important that we match up that talent to meet the needs of the region’s employers. The latest Gradcore Big Graduate Survey highlights that more SMEs need to engage with region’s graduate talent and ensure they make a contribution to the economy of the region in which they were educated.
“Gradcore and yorkshiregraduates.co.uk have proved to be an excellent conduit in ensuring that we utilise the graduates from Yorkshire’s universities who can make a major contribution to our economic growth.”
Gradcore Chief Executive Martin Edmondson, said: “The voice of graduates in this survey suggests that many are keen to stay and make their mark in the region, but that they find it hard to do so, which is a challenge to all of us who believe that graduates effectively used can drive growth in businesses and the economy. We will continue to develop our efforts in this area through yorkshiregraduates.co.uk and we hope others will join us in pushing for a renewed focus on this important subject.”
Stephen Pegge, Group External Relations Director at Lloyds Banking Group, said: “The Big Graduate Survey gives us a snapshot of the graduate economy but also underscores how the region’s universities must ensure there graduates are compatible with the needs of local businesses who in turn need to create innovative work places, improve skills and the quality of jobs – key drivers for graduates.
“Overall there is an urgent need for the region to build a strong and dynamic knowledge economy, based on its strengths as a centre for manufacturing, professional services and innovation, so that graduates leaving its highly-rated and large universities have a genuine local work alternative, particularly in the private sector.”
The survey also pointed to a number of initiatives by local government, universities and the private sector, notably the RISE programme in Sheffield and the Lloyds Scholars scheme. However, these initiatives remain the exception though and the data from this research suggests that as a region Yorkshire is failing to maximise the value and productivity of the talent we have.
Other speakers at the event, which will bring together MPs, policy makers, university careers services and regional graduate employers, are the co-chairs of the Yorkshire & Northern Lincolnshire APPG, Barry Sheerman MP and Andrew Percy MP.
