news

15/10/02: Report questions financial returns on degrees
A new report has questioned whether the financial return from having a degree is as great as it used to be. It suggests that graduates now have more general skills and the increasing numbers of students could be driving down the rewards. For more details visit the Guardian.
27/08/02: New Report into postgraduate debt
A new report has revealed that a third of postgraduate students are getting deeper into debt with expenditure in excess of their income.
The report published by the National Postgraduate Committee, using the results of a survey by Warwick Students Union revealed that 64% of respondents paid their own tuition fees with average part-time fees of £1,550 and full-time fees of £3,780.
Most students though still remained optimistic about their prospects with 86% feeling that the money spent on their studies was a good investment, with 53% expecting higher salaries before the start of the course though this fell to 48% later into the course. Respondents expected, on average, to earn an initial salary of £22,000.
Respondents had an average of £6,442 of debt before their course, £7,775 at the time of the survey, and anticipated £8,513 on the completion of their studies.
The report also suggests that 71% undertook paid work as well as studying, 22% in teaching related work at their institution, 18% doing casual work elsewhere, and 29% in full-time employment.
Main expenditure items after payment of fees were rent/mortgage (£3,531), then food/household expenditure (£2,218), bills (£1,354), entertainment/socialising (£1,287), travel (£1,155), clothes (£584) and finally course materials (£400).
Students whose expenditure exceeds their income are most likely to be in the 20-25 age group and on a full-time taught course in the arts, humanities or social sciences.
Advice on postgraduate finances can be obtained from our postgraduate section. The money management section may also be of interest.
28/06/02: Business students name preferred employers
The latest Universum survey reveals that management consultancy is still a favourite career with European business students. Firms like McKinsey, Accenture and PwC headed other choices in sectors such as marketing and advertising. This is despite the fall out from the Enron/Anderson affair. McKinsey & Co topped the list of preferred employers, with The Boston Consulting Group in second place and Goldman Sachs third. For the full report, and preferred employers for science and engineering students visit Universum's web-site.
19/04/02: Budget 2002 headlines
The main points of interest to graduates are:
  • National Insurance contributions increased by 1p in the £ on earnings over £4,615
  • Road tax frozen
  • Petrol duty frozen
  • Duty on beer, spirits and wine frozen
  • Increase of 6p on a packet of 20 cigarettes
  • 43% rise in NHS spending over next 5 years
Full details can be obtained from the BBC website.
11/04/02: New study highlights inequalities in graduate pay
Over 100 MPs have sign a motion opposing the governments higher education policies, including over 80 Labour MPs. It has also been reported that a government policy unit is in favour of re-introducing grants for the poorest students and introducing a graduate tax. The Chancellor of the Exchequer is, however reported to believe that the cost of this proposal would be too great and would not ultimately benefit those in greatest need. A government review of student funding is expected to be published in July.
18/03/02: BBC most desirable graduate employer
New research by Universum has revealed the BBC as the organisation most graduates would like to work for. The Foreign and Commonwealth Office came second with British Airways third in the poll of 6,000 students. Asked what were the most attractive characteristics in a first employer, a balance between work and peronal life was deemed most important with the opportunity to work internationally second. In terms of salarary packages, extra holidays (44%) and healthcare benefits (39%) were most attractive whilst a signing on bonus was way down the list at 11th (9%). Also interesting was the fact that students still have high salary expectations with most expecting to receive around £30,000 in their first position. More details can be obtained from the Universum website
8/03/02: New study highlights inequalities in graduate pay
The Equal Opportunities Commission (EOC) has published a report suggesting that women graduates can expect to be earning 15% less than men by the age of 24. It shows that this gap goes on to increase throughout the graduate's career. The study marks the start of a campaign to raise the discrepancy as an issue with employers. Full details of the report can be obtained from the EOC's website.
4/03/02: e-skills NTO launches new website
A new website providing information and advice to people seeking a career in IT has been launched. The site provides details on how to enter the sector, where the opportunities are, and what skills are expected. The site is aimed at women in IT, IT for non-IT graduates and those seeking work experience placements. Case studies of graduates demonstrate the range of possible routes into IT and career opportunities. More details can be obtained from www.e-skillsnto.org.uk/itcompass.
2/03/02: Accountancy recruitment still on track
A report in The Guardian suggests that recruitment by the big accountancy firms will not be hit following the Enron affair. Whilst KPMG has recruited this year's intake and has started looking for 2003. PWC is still planning to recruit 850 - 900 students this year, whilst Andersen, implicated in the Enron collapse, still plans to take on 550 graduates this year. The report suggests that accountancy is an attractive option with the consultancy side of the business suffering.
01/02/02: e-skills NTO launches new website
A new report by UNITE, provider of student accommodation, reveals that most students prefer the current system of student funding, to an alternative of maintenance grants and a graduate tax when they start work. Of all students surveyed 46% said they prefer the student loan system to the proposed graduate tax (33%). A full copy of the report may be viewed at UNITE's website. (Requires Adobe Acrobat reader.)