Oxford Thought

What sectors and companies offer the most profitable careers after graduating from university?

The search for graduate jobs is getting more competitive as the recession deepens. Job sites such as reed.co.uk advertise positions in areas as diverse as marketing, IT and finance; and for many graduates the challenge facing them now is how to tailor their degree course to a jobs market which doesn’t always match up with their academic expertise.

A recent report from Incomes Data Service found that the class of 2012 can expect a 2% drop in starting salaries compared to those who left university a year ahead of them.

Graduate Fog, a campaign and news site working to bolster fairness and support of young graduates in the UK, notes that current graduates will suffer from the upwards spiral of inflation, and the tentative slowdown in pay rises, as employers’ feel that it is a ‘buyer’s market’ out there.

For many graduates, one of the key factors to be considered when preparing for the first steps into the jobs market is money. With the economic uncertainty of a double-dip recession, young people leaving university are prioritising financial security over pursuing their academic interests.

So what careers or companies are the best for new graduates looking to put some money in their pockets? As always, finance is still a lucrative sector for young starters, with graduate schemes from companies such as Barclays Capital, the investment arm of Barclays, routinely headhunting bright individuals graduating from the UK’s top 50 universities.

Before the recession hit, graduate employees for top banks were able to go straight into a £35,000-a-year job; and whilst this figure might have frozen, or dipped somewhat in most cases, Inside Careers reminds us that banking still offers some of the most lucrative employment benefits and welcome packages on the market.

IT and Computing is also, as one of the last decade’s expanding sectors, a profitable sector to enter into. Degrees in IT and Computing, Computer Science and Business Management or Business Administration are all extremely popular degrees to hold and some of the top brains graduating year on year can move into jobs with salaries well over £25,000.

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