Thousands of graduates face worse starting salaries this summer than if they had left university almost 10 years ago. Graduate wages so much that salaries are expected to fall this year to their lowest level in real terms since 2003, the report from Incomes Data Services. When adjusted to account for high inflation, graduates face a 2pc pay cut.
Nasreen Rahman, principal researcher at IDS, said: "It remains a buyer's market for graduate recruiters this year, with starting salaries set to stagnate for a further year. High rates of price inflation over the last few years have been eating away at the purchasing power of starting salaries for new graduates. Even though the demand for graduate recruits is showing signs of revival, the competition for places means that employers are under little pressure to increase current rates despite high inflation. "
9 in 10 employers intend to freeze graduate pay rates this year, the study also found.
You now have to borrow more money to get a degree which won't get you a job that pays less than 10 years, and that is if you are able to find a job!
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