The Graduate Marketplace
Done and Mulvey (2011 p.31) state that the labour market can be subdivided into sectors, making it easier to focus on. These sectors can be defined by ‘occupational grouping, geographical territory or by shared characteristics in the workplace, for example, graduates.’ Defining sectors is a way of being able to examine the labour market in more detail, and helpful in getting a hold of relevant information. The graduate labour market is a distinct sector within the labour market which simply means ‘the demand is for graduate level jobs, for which the jobseeker must have an undergraduate degree.’ According to Done and Mulvey (2011 p.5) ‘The basic principle of the ...view middle of the document...
A report from the Higher Education Careers Service Unit and Association of Graduate Careers Advisory Services (2012) state that “despite rising number of graduates and a struggling economy hitting recruitment, the graduate jobs market has remained relatively resilient” (BBC, 2012). Despite a tough labour market 62% of recent graduates are in employment, 9% are unemployed, 14% stay on for further studying and the remainder in a mixture of training while working or other activities. Although employed, many are still in non-graduate jobs.
In terms of the geographical spread of jobs for new graduates, there is a strong bias towards London and the South-East of England with one in five of all recent graduates who are in graduate employment based in London. This is by far the largest share of the graduate jobs market in England. In contrast, the lowest proportions of graduates are working in the North East of England and the east Midlands (BBC, 2012).
Aside from the graduate marketplace, organisations offer graduate training programmes which can be a great way to jump start a new graduate’s career. It can take many formats depending on the employer; but it usually allows graduates to experience many aspects of both the role, and the organisation as a whole (Brighton, 2013). Formal graduate training schemes generally last approximately one year, although it can be longer – however, this all depends on the specific employer programme (Graduate Jobs, 2013). The closing dates vary between graduate schemes. Many close as early as November for graduates who will graduate during the following year. However, some will keep their deadlines open for as long as it takes to fill all the available positions. There are a limited number of spaces available on any graduate training scheme, so employers set minimum requirements to qualify for entry for example you are usually required to hold a 2:1 in your degree or higher (Graduate Jobs, 2013). Graduate schemes can be very competitive with a lengthy and intense selection processes that can include such things as telephone interviews, assessment centres, second interviews and group tasks (Brighton, 2013).
Stage 1 is an online application form – this is a chance for the graduate to tell the organisation a little bit about themselves, academic background and any work experience they may possess.
Stage 2 would be the online numerical and verbal reasoning tests – each test should take around 20 minutes and need to be completed within a certain time frame (usually 72 hours). These tests help a person to look at the graduates’ ability to analyse numerical and verbal data – skills that a person would need on the job.
Stage 3 if a candidate is successful in the reasoning tests then they will be invited to join a telephone interview. It focuses on a person’s behavioural capabilities usually through basic questions such as ‘what are your strengths and weaknesses’ etc. and scenario based questions.
Stage 4 if...