Graduate jobs are being ditched in favour of self-employment, a new study, “The Graduate Market in 2018 Annual review of graduate vacancies & starting salaries at the UK’s leading employers“, reveals. FE News reports.
Over half (56%) of students, which equates to 1.2 million people in university education, are considering setting up their own business, instead of getting on the corporate career ladder.
Surprisingly, nearly a third (32%) of students consider starting their own company in their first 12 months of university, with 38% certain it would give them a better chance of being successful.
The study also looks into the benefits students think self-employment offers that employers don’t. Nearly half (47%) say it’s down to flexible working, 45% wanted to be their own boss and over a fifth (28%) thought working for themselves offers a better work/life balance.
For over a third (36%) however, it’s the financial benefits that lead them to choose self-employment. Despite the average salary for UK graduates sitting at £19k-£22k, over a quarter (27%) expect around £25k, while one in ten expect at least £30k meaning the workforce is falling behind when it comes to starting income.
Aron Priest, Co-Founder at Solopress commented: “It’s clear that hard work and risk doesn’t seem to put the new generation of workers off of running a business. Young graduates are ambitious and UK businesses really need to get to grips with what will motivate them to stay in the workforce. After all, we don’t want to be losing talented workers.”
Please tell us your thoughts in comments or via Twitter ~ Tamsin
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