Graduate starting salaries in the IT and telecoms sector will drop in 2011 in contrast to almost all other major industries, although job vacancies will rise, according to the latest Association of Graduate Recruiters (AGR) Recruitment Survey.
The average salary between 2009-2010 was £25,000 across 16 industries, with IT and telecoms graduates being offered £26,000 per annum. This was the fifth best pay package in 2010, but AGR predicts that this will fall by 1.2 per cent this year.
Retail is the only other sector where graduate pay will be reduced, and AGR is predicting a 4.2 per cent decrease.
In contrast, the fast moving consumer goods industry will offer the biggest increase in pay, and the average salary of £25,500 is expected to rise by 3.9 per cent.
Graduates starting at investment banking firms will remain the highest paid with average starting salaries of £38,250.
Recruitment statistics show a slightly different picture. IT and telecoms companies expect to see a 33.5 per cent rise in vacancies, despite reducing starting salaries.
This will be the third highest increase behind consulting/business service firms (88.1 per cent) and insurance companies (47.8 per cent).
AGR based its outlook on anticipated and actual business growth, as well as an increased strategic focus on graduate recruitment.
Companies are also expected to continue investing heavily in online marketing to attract graduates, spending an average of £15,000.
The report showed evidence of a narrowing of the gender gap, as more female graduates were recruited by AGR employers in 2009-2010 than in the previous 12-month period.
However, the findings show that men continue to dominate the majority of AGR industries, including IT/telecommunications. Some 71.6 per cent of vacancies were filled by men in 2010, compared to just 28.4 per cent by women.
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