78% believe Brexit will negatively impact their career
Graduation usually comes with a feeling of accomplishment and anticipation but our research shows that 78% of those who graduated in 2019 believe Brexit will negatively impact their career.
50% of those who graduated during the global financial crisis found it more difficult to secure a graduate role
We explored how today’s graduates feel about the job market and compared this to how graduates fared after the last period of uncertainty, in the 2008 global financial crisis. Researched showed that 50% of those who graduated during the global financial crisis found it more difficult to secure a graduate role due to the crisis – taking an average of eight months to find their first career job.
58% of graduates during the GFC say the 2008 crisis had a negative impact on their career
Over ten years on, three fifths (58%) say the 2008 crisis had a negative impact on their career. Graduates fear they will be subject to similar disadvantages as they look to enter the workforce, with 78% thinking Brexit will negatively impact their career and 52% thinking it will be more difficult to secure a graduate role.
Half of graduates during the GFC took a role in a different sector due to the lack of available roles
With the challenges 2008 graduates faced limiting their entry into their desired career, half (50%) said they had to change their post university plans with three fifths (62%) taking a role in a different sector due to the lack of available roles.
55% of 2019 graduates are planning to postpone looking for their first role due to Brexit
Already we’re seeing today’s graduates taking a similar approach to delay their entry into the job market with 55% planning to postpone looking for their first role.
Milkround’s research shows 60% expect they will need to take a role in a different sector, 18% think they will need to do temp work and 9% plan to instead go travelling. The results also reveal a 15% rise in the number of graduates who are planning to take up a postgraduate qualification, rather than heading straight into their career.
44% of 2008 graduates reported their salary has not increased as much as graduates in previous year’s
Almost half (44%) of 2008 graduates reported their salary has not increased as much as graduates in previous year’s.
36% of 2019 graduates are not expecting standard salary increases post-Brexit
The expectations are also set low for 2019 graduates, as over a third (36%) are not expecting standard salary increases post-Brexit. Recent research from The Resolution Foundation think tank supports Milkround’s findings, with those entering the labour market during the financial crisis impacted in terms of wage growth and salary.
Employment continues to rise in 2019 despite Brexit uncertainty
Despite the negative perception 2019 grads have of the current job market, the Office for National Statistics labour market research shows the number of people in work in the UK continues to reach record highs. A 2019 report from the Institute of Student Employers, supports a positive outlook for grads with a clear majority (70%) of employers anticipating that Brexit will not impact their recruitment needs.