How to get a graduate job in today’s recession and maximise your salary
Join the public sector
Graduates applying for public sector jobs, including those in the army, police or civil service, stand a better chance than those applying to private companies. The number of available jobs for graduates in the public sector has risen by 50pc over the past year, while the number of jobs in the private sector has more than halved, CV-Library’s data shows.
Emergency services such as the police and NHS have been key to the Government’s coronavirus response and these careers come with the added benefits of better job security and more generous pensions than at most private companies.
While competition has been getting tougher in many sectors, the number of people applying for every graduate job in the public sector has actually fallen from 56 this time last year to 39 today. Graduates should bear in mind that, following previous recessions, the Government has been quick to freeze wages for its employees.
Start your own business
As companies cut back on hiring, many young people leaving education will be considering working for themselves instead.
Although being self-employed offers more flexibility, it typically means sacrificing on pay. The average employee aged between 22 and 30 earns just over £20,000 a year, according to the Office for National Statistics. Self-employed people of the same age earn on average £4,000 less.
It also comes with less job security. Many people who run their own businesses have found their income has been decimated during the Covid-19 crisis and are now relying on government grants or benefits. Self-employed people do not benefit from sick pay or a workplace pension.
Mr Biggis said: “This option is a little riskier and it really does depend on two factors: the money you have behind you and the type of business you’re hoping to set up.”
Apply for an internship or apprenticeship
The Government is trying to encourage businesses to take on young trainees and apprentices. It has launched a scheme, called Kickstart, which pays firms to take on young people for six-month work placements paid at the minimum wage.
However you have to be claiming Universal Credit to be eligible and opportunities are expected to be mainly based within charities or in low-skilled work. This is also likely to be the case with the government-funded traineeships and apprenticeships on offer.
Reskill or retrain
Mr Biggins said: “If you were hoping to start a career in an industry that has been badly affected, it could be worth retraining so you open yourself up to other options.”
You could also boost your chances of getting a job by learning a new skill. Many employers value people with digital know-how, such as website design and SEO analysis, or who speak foreign languages.
It’s important to consider how long the process will take and what costs might be involved with upskilling.
