New XpertHR research presents salary prospects for graduates in the 2011/12 hiring round – and finds that salary levels are frozen for the third consecutive year. The 22nd XpertHR survey of graduate recruitment covers 182 employers collectively employing more than one million people.
This XpertHR survey finds that the typical median (or midpoint) rise between 2010/11 and 2011/12 was nil. The average rise in salaries was 1.8%, a marginal increase on 2010 and 2009, when the average increase was 1.4% and 0.8% respectively. The salary freeze for graduates remains notably lower than the 2% headline basic pay award for the economy as a whole.
But neither salary change (for graduates or employees as a whole) comes close to the inflationary rise in the UK cost of living – 5.2% as measured by the retail prices index and 4.8% according to the consumer prices index for November 2011.
Starting salaries for graduate recruits will be based on a median (midpoint figure) of £24,500 in 2011/12.