Starting salaries for graduates have been frozen for the fourth consecutive year, according to the 23rd XpertHR survey of graduate recruitment. The typical median (or midpoint) starting salary increase between 2011/12 and 2012/13 was nil.
Based on our survey findings, the lack of any salary increase for entry-level graduates means that their incomes will fall behind the inflationary rise in the UK cost of living. Combined with the increase in tuition fees to £9,000 a year for the majority of students from September 2012, it seems inevitable that many graduates will incur increasing levels of debt.
Starting salaries for the graduate class of 2012 will stand at a median of £23,500, according to our research. Those graduates taking up jobs in the legal profession will once again enjoy the highest starting salaries.
Our 2012 survey gathered data on starting salaries within 132 organisations, collectively employing more than 500,000 people.