Salary depends on company, your work experience, academics and university you graduated. Information on graduate salaries is available in various surveys and reports but figures tend to be different, as they are arrived at in different ways.
1. Figures derived from the latest 2007/08 issue of Prospects Directory revealed that the average starting salary offered to 2008 graduates is £24,048 and the median salary* is £23,500. Prospects Directory is an annual graduate recruiters' directory published by Graduate Prospects and features thousands of jobs and hundreds of employers. The latest 2007/08 issue is aimed at 2008 graduates. The salaries offered ranged from £14,732 to £39,000.
2. The Association of Graduate Recruiters (AGR) produced their most recent, forward looking survey in early 2008. This looks at the salaries recruiters expect to be paying their new graduate employees in the year ahead, and is based on responses from 217 employers. The findings are summarised below.
Graduate starting salaries at AGR employers in 2008
Salary range % of employers
£15,000 or less 1.1%
£15,001 - £17,500 2.2%
£17,501 - £20,000 4.3%
£20,001 - £22,500 18.9%
£22,501 - £25,000 33.5%
£25,001 - £30,000 17.3%
£30,001 - £35,000 8.6%
More than £35,000 14.1%
Source: The AGR Graduate Recruitment Survey 2008: Winter Review
Median - £24,000
Upper Quartile - £29,000
Lower Quartile - £22,500
3. According to latest figures released by the Higher Education Statistics Agency (HESA), the average salary for full-time first degree graduates from 2006 whose destinations were known and who were in full-time employment in the UK six months after graduating was £18,501. This figure comes from the Destinations of Leavers from Higher Education (DLHE) survey, which explores graduates' destinations six months after graduation.
It is important to note that the salary figures for the first two sources are from mainly large companies and organisations and the vacancies are aimed specifically at graduates. A substantial number of graduates, however, obtain posts which are not specifically targeted at degree holders. As a result, the average salary figures from these sources are likely to be higher than the average graduate starting salaries sourced from student surveys (e.g. the figure reported by HESA), as there is a bias towards larger firms and specific graduate jobs. In addition, many of the vacancies are in London where salaries offered tend to be higher than in other UK regions.
* The median is the middle of a set of values.
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