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Strong graduate market drives up salaries
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Posted in Candidates, Employers on Jul 29, 2014 by Richard Hayden
Average salary growth doubled month-on-month in June, driven by a strongly performing graduate market, according to research by recruitment company Adzuna. The Adzuna Job Market Report suggests average advertised salaries grew by 1.7% between May and June, up from 0.6% between April and May. Average salaries now stand at £32,933.
However, despite the strong showing in June, average salaries have still fallen 1.2% over the past year, the equivalent of £1,054 lower than 12 months previously.
Advertised graduate salaries have bucked this trend and increased 5% year-on–year since 2013. The average is now £24,762, up from £23,590 the same time last year.
There has been growth across the UK, with 10 out of 12 regions seeing a rise in average salaries. The region that has seen the biggest increase in advertised salaries over the past 12 months is Wales, where salaries now stand at £29,499, up 19.3%.
Across the same period wages in London have fallen by 3.3% to £40,446. This was despite a strong month in June when advertised starting salaries rose by 1.5%.
Report author and Adzuna employment specialist Becky Harkins told HR magazine the strong graduate market is a sign employers are once again "looking to the long-term".
"Increased confidence means finally companies can look to make people investments where they won't see a full return for five or 10 years," she said. "But across all areas there are signs that everything is moving in a positive direction. Although year-on-year salaries are still down, several months of successive growth show salaries are finally improving and catching up with the recovery."
If you are looking for the right graduate to fill a position in your organisation, call Key Appointments today on 0844 5044 666
See more at: http://www.hrmagazine.co.uk/hro/news/1145697/strong-graduate-market-drives-salaries#sthash.uF0FagMM.dpuf
However, despite the strong showing in June, average salaries have still fallen 1.2% over the past year, the equivalent of £1,054 lower than 12 months previously.
Advertised graduate salaries have bucked this trend and increased 5% year-on–year since 2013. The average is now £24,762, up from £23,590 the same time last year.
There has been growth across the UK, with 10 out of 12 regions seeing a rise in average salaries. The region that has seen the biggest increase in advertised salaries over the past 12 months is Wales, where salaries now stand at £29,499, up 19.3%.
Across the same period wages in London have fallen by 3.3% to £40,446. This was despite a strong month in June when advertised starting salaries rose by 1.5%.
Report author and Adzuna employment specialist Becky Harkins told HR magazine the strong graduate market is a sign employers are once again "looking to the long-term".
"Increased confidence means finally companies can look to make people investments where they won't see a full return for five or 10 years," she said. "But across all areas there are signs that everything is moving in a positive direction. Although year-on-year salaries are still down, several months of successive growth show salaries are finally improving and catching up with the recovery."
If you are looking for the right graduate to fill a position in your organisation, call Key Appointments today on 0844 5044 666
See more at: http://www.hrmagazine.co.uk/hro/news/1145697/strong-graduate-market-drives-salaries#sthash.uF0FagMM.dpuf
