Rise in graduate job applications

Banking has seen a growth in vacancies

The number of job applications for most sectors of the graduate job market has increased this year, a survey suggests.

The poll of 430 graduate recruiters by GTI publishers also suggests more firms are offering work experience postings.

Such placements are becoming more important as competition for jobs increases, recruiters believe.

The survey examines trends in opportunities in engineering, banking, law, IT, management consulting and construction over the last six years.

The data was collected by GTI's Target publications on careers in each sector.

Applications up

More than 80% of engineering firms and 86% of IT firms are now offering work experience, as well as 93% of law firms - a rise on previous years.

GTI's publishing director, Chris Phillips, said it was encouraging to see more work experience opportunities.

"This is evidence of two things: a confidence in the future and a recognition that quality work experience opportunities are not only beneficial to students but also an increasingly important part of an organisation's recruitment drive," he said.

A recent survey by the Association of Graduate Recruiters found firms expected their vacancies to increase by up to 15% this year.

But over half of the employers polled said they did not expect to fill all of them, because applicants lacked the necessary skills.

The IT sector appears to be experiencing some growth, with the average number of vacancies per organisation rising from 124 to 136.

But applications for jobs in the sector were also up - with the average number of applications received by each firm at 3,524, up from 2,373 last year.

Fierce competition

Starting salaries for most sectors remain fairly stable this year across the sectors.

Average starting salaries in law are still among the most generous, having risen for the sixth year in a row to £26,070. Among London firms they rise to £29,216.

Average starting salaries in IT are £26,000 and in finance £36,647.

Recruitment across law firms has remained fairly consistent over the last five years, with an average of 31 vacancies offered by firms this year.

More firms are also offering to fund law courses - with 91% of firms now funding students' Common Professional Exam and 97% funding the Legal Practice Course.

Guaranteed earnings for barristers have also risen - with more than half of all sets now offering at least £30,000.

In banking and investment, competition for jobs is fierce, with an average of 2,271 applications per organisation for the 92 jobs available.

Last year firms reported an average of only 69 vacancies.