Graduates consider alternative careers to pay back student loans quickly

Many graduates will have clocked up around 14,000 of debt by the time they leave college. Those who study medicine, law or education will have amassed considerably more.

And while school-leavers with jobs are saving up to buy their first car or put a down payment on property, graduates are saddled with loans even before they get their first pay cheque.

According to the Department for Education and Skills, 81 per cent of eligible students in the UK took out a loan in 2004/5 to support them through higher education ñ the average being 3,390 for that year alone.

This is set to rise even higher in September when universities and colleges will be able to charge up to 3,000 in tuition fees on top of the cost of living.

As a result, many undergraduates are exploring different career avenues to the ones traditionally mapped out for them in a bid to pay back student loans as quickly as possible.

Charlie Walker, from Redland in Bristol, is one such student. With a 2:1 honours degree in Modern History and Politics from Oxford University, Charlie had originally considered entering politics or the civil service after graduating.

But even while he was studying at Wadham College, the 22-year-old says he had ìissuesî with both career options. He also wanted to clear up his student debts as quickly as possible.

Instead, he went into recruitment and, for the past six months, has been working for Information Technology specialists G2 Recruitment Solutions based at Queen Square, Bristol.

Charlie, who originates from Huddersfield, West Yorkshire, said: ìWith G2 Recruitment, there are a lot of opportunities to progress rapidly through the organization, and there are excellent commission structures as bonuses and incentives.î

Charlie added: ìI have friends from university who went on to work for local authorities and they earn around 30,000 a year. Thatís extremely good for a graduate starting salary, but you can earn considerably more here at G2.

ìIt means that, from this month, I can start to pay off my student loan. It takes other graduates earning 15,000 upwards around five years to clear the debt ñ I plan to pay mine off in six months.î

Although not restricted to certain sectors within the IT marketplace, Charlie puts his academic qualifications to good use dealing with IT departments in central and local government, as well as blue-chip companies.

ìMuch of my work is about networking and establishing relationships with IT managers to find out their requirements for both permanent and temporary placements. We donít do cold calling like many other recruitment agencies.

ìAnd, unlike some agencies, G2 Recruitment Solutions donít have corporate policies or strict guidelines. You can work on your own and are amply rewarded for your efforts - one of my colleagues is in line for a 12,000 pay cheque this month,î Charlie confided.

ìIn the next six months there will be opportunities for me to go into leadership, training and mentoring ñ building up my own team to gain more commission.

ìAfter that there is the possibility of opening and running my own G2 office in another part of the country and, a few years down the line, taking out share options.

ìI wouldnít be able to do that in the more traditional professions or other corporate-style recruitment agencies, which often have long graduate training schemes,î Charlie added.

G2 Recruitment Solutions are currently seeking high-calibre graduates to join their rapidly expanding team in Queen Square.

Operations manager Phil Hutchinson said: ìIf youíre a highly motivated, strong communicator, who can demonstrate common sense and lateral thinking you can expect to earn between 35-50K in your first year with G2 Recruitment Solutions.

ìAfter the first year, the skyís the limit, and there are all sorts of other incentives, such as car schemes, European and international company holiday targets and champagne lunches.

ìYou donít have to have any technical knowledge ñ just a lust for sales and high earnings - as youíll receive on-the-job training and mentoring. Youíll also be working in a work hard, play hard environment based on performance and competency rather than time served, plus youíll be joining at a time of unprecedented growth.î

If you fancy a challenge and would like to work for G2 Recruitment please email your CV to careers@g2recruitment.com or visit www.g2recruitment.com/careers. Alternatively, call Phil Hutchinson on 0870 777 0602.