Masters anyone?

As a student, life after University is becoming more difficult by the day. Recent studies by the Association of Graduate Recruiters has predicted a 5.4% fall in vacancies in 2009, leading to evermore pressure on graduates who are already applying in a job market, hit hard by the economic downturn. The majority of graduate cutbacks have occurred in the Investment Banking sector, which has inevitably suffered in current economic conditions, but other business sectors also are set to reduce placements. Students now have to deal with the uncertainty of employment, as well as piling student debts waiting just around the corner when graduation comes around in July, leading to some people questioning whether University is worth the time and money at all. In an interview with Sky News, Higher Education Minister David Lammy silenced the critics, saying

“People considering applying to University should do so. A degree can help you not only get your first job, but also a career”

It seems that the figures support Mr Lammy’s contention, with a record number of students applying this year, in hope of making themselves more employable. Yet although University can increase your employment opportunities, if the jobs are simply not there, a degree is useless.

Speaking with a recent graduate, it’s clear that life is becoming a sea of uncertainty when entering the real world after Uni.

“I recently received a Biomedicine degree with honours and am unemployed. I have applied for jobs in all sectors but there is simply nothing available to graduates. I am not alone either, as many of my highly qualified friends are in the same boat, struggling to get by on temporary work or work which simply does not require any education whatsoever.”

Although it is not all doom and gloom, as some employers are capitalising on the recent economic crisis, such as Aldi who have seen 25% increases in sales, aiding the offering of profitable graduate placements, some offering up to £60000 per annum.

It seems that for so many students, applying next year is the only option. A stagnant employment market simply is not supplying the graduate placements needed to meet the demand, yet with the economic situation looking ominous, who is to say that next year’s employment outlook won’t be just as bleak.