UK may be rich with world top universities but the country’s graduates may not find that to be something they can be proud of.
Yes, it’s true that those who finished their studies in Oxford, Cambridge or any of the London best schools found themselves very much sought after in the job market but they make up the minority bunch. They rest are left behind, probably kicking themselves and asking if their degree is of any worth.
The Higher Education Statistics released in the UK revealed a staggering figure that shows almost a quarter or 25% of graduates failed to get a full time job three years after leaving the university. [Source]
Instead of landing a job related to their field or profession, they instead find themselves having to work in temporary or part time jobs in the likes of bars, hypermarkets and construction sites.
As it stands, exactly 23.9% of graduates were unable to land themselves full time jobs, with 2.6% failed to find any other jobs (unemployed).
The figure was drawn from more than 40,000 university graduates researched between mid and end of last year, the period before the recession hit. Now that the nation economy is still reeling from the recession effect, the picture is looking even gloomier. Many employers have frozen their recruitment exercise, and even some are beginning to offer jobs, priority is given to those with experience.
This leaves the graduates with little option other than opting for part time and temporary jobs offering salaries much lower than what their degree scroll can demand.
If there is any consolation the study can offer, graduates still continue to do better than those with lower or without qualifications, with the former upstaging the latter by some 36% in terms of earnings and salary received.