Since 21 is not what it was. Fresh out of college with a good degree under your belt, you can expect to be the world's oyster, and to land an interesting job, move to your place and enjoy the freedom. But today's reality often means a return to the family home, to spend a lot of time in your parents' computer and searching for unremunerated training, only a small chance of finding full-time jobs on their own career choice. If they are not from a privileged background, things are even tougher (Vita, 2012, www.managementtoday.co.uk).
Marginalization of those who went to travel or further study, the unemployment rate for those who graduated in or after 2010 was just under one fifth. In 2011, 36% of graduates from low-skilled jobs, compared to 27% in 2001, and each has chased by a further 43 candidates. Not surprisingly, the largest collapse of follow-up of vacancies has been the investment banking and fund management companies. Outlook remains volatile, says Carl Gilleard, CEO Association of Graduate Recruiters (AGR). "Students are largely based on trust, if companies believe that the market improves, they take the brakes off. But if they see gloomy predictions, the brakes back (Vita, 2012, www.managementtoday.co.uk).
When the general unemployment rate is running 8.4%, completed jobs and the fight against the more experienced - in the eyes of employers - the most deserving. Next month, when a person finishes university studies, thousands of other graduates flooding the market. Employers enjoy this oversaturated market, take advantage of some great talent to knock on their door, desperate for the opportunity. It is not uncommon for graduates to work for months without any money (not even free), or even pay a premium price. A research conducted by totaljobs.com, has revealed that a third of graduates have been looking for work for more than six months despite completing more than 100 applications. Moreover, one in four of those who applied for more than 100 jobs were not offered a single interview. Due to the saturated labour market and high unemployment rates, the expected salary for graduates has lowered to less than £20,000 a year (Vita, 2012, www.managementtoday.co.uk).
In response to the research findings Mike Fetters, Graduate Director of Totlajobs.com stated, “Overall, the picture for graduates is tough, but there are signs of improvement. We are seeing some growth in the number of jobs available. This is little comfort, however, for those that took the advice of successive governments and invested in their education only to find themselves forced through necessity to claim the dole and fail to be invited to a single interview.” First neither found their courses actually prepared them for the field into which they wanted a career. They have both agreed they would have been better off getting a job and then trying to establish a learning pathway (Lee, 2004, ...