Graduate employment is given a boost as an increased number of businesses work with universities and more people are participating in internships says report. 15/07/2011
The report by The Higher Education Funding Council for England (HEFCE), said 31% of graduates involved in the scheme had been offered long-term or permanent positions by their employer, while the funding of 8,500 work placements has led to permanent and long-term jobs for one in three students.
Half of the students said the placement gave them confidence in applying for future jobs, with 17% looking for another internship afterwards. Although, a further 14% said that they felt like a ‘cheap pair of hands’.
The work placements were run by 55 higher education institutions in collaboration with HEFCE. Of the £1,600 designated to each student, three-quarters was used for wages. The majority of employers added to this figure and the rest of the money was spent on administrative costs.
With increased top-up fees and the current funding environment irresolute, the scheme has cast some light on graduate employment prospects.
‘HEFCE and the higher education sector have successfully delivered these graduate and undergraduate internships to a high standard in a short timeframe. These schemes, along with the recent Economic Challenge Investment Fund, show that higher education is making its contribution to recession recovery. The challenge now is to work with partners to take internship and work placement activity forward,’ said David Sweeney, HEFCE director of research, innovation and skills.
Source: Graduate Prospects