Graduate salaries vary significantly; the average is £29,000
The average wage per annum for UK graduates in 2014 full-time employment six months after graduation ranged between £18,000 and £24,0002. On the contrary, the Association of Graduate Recruiters (AGR) and HighFliers.co.uk view the number as “£29,000”, while TheBigChoice.com is more conservative with its estimate of “£26,500”.
At the crowning end, the leading graduate jobs pay over the average range. In 2014, based on High Fliers research, the highest-paying UK employers are the investment banks. Although very few banks openly publicise their graduate packages, this data confirms that the best-known executives in the City are currently paying between £36,000 and £55,000 to new recruits. Other sectors – oil & energy, consulting, banking & finance and IT & telecommunications – are now offering median graduate salaries of £30,000 or more.
On the other hand, the lowest alumnus starting salaries are for those beginning work with public sector employers offering median starting salaries of £22,400. Greater than fifty percent of firms confirmed that they would also pay their newest recruits a relocation allowance or a variation of a ‘starting work bonus’, typically in the range of £1,000 to £4,000. However, the most generous packages provide payments of up to £10,000.