State of the Market

[Fraidycat]

Also the nation needs fruit pickers. Plenty jobs there I suspect. Nice low pressure job, healthy outdoors life.

Van drivers in SchumiStars neck of woods get paid £16 an hour and are in short supply after Brexit.

But SchumiStars is looking to reset his 'time on the bench' clock and pay is not the main concern.

Pay for graduates in the UK is a disgrace. In many cases it is almost equalised with minimum wage now.

It used to be that IT graduates got about 3 times minimum wage after graduating uni, i did. But now minimum wage is 23K. Not many will be getting 70K out of uni.

[hungry_hog]

70k grad roles are possible but with heavy caveats

Investment banking (work 100+ hours a week)
Law (work 100+ hours a week)
FAANG (not sure of hours but in a slump anyway)
Quant hedge fund (need to be a genius, someone who finds a Maths degree a walk in the park)

[Peoplesoft bloke]

at that rate isn't it better to just go and stock shelves in tesco?

In Covid I applied for Tesco and got rejected - it's really not that easy to get into.

[hungry_hog]

In Covid I applied for Tesco and got rejected - it's really not that easy to get into.

ah PeopleSoft

Oracle HCM says hello

[TheDude]

What is the current thinking on this? Forgetting travel, subsistence and client wrong internal term limits. You need to be careful with duration at a client, but with multiple contracts simultaneously surely going past 1 year 364 days is perfectly ok, as long as all parties agree it's outside IR35 and it is genuinely outside IR35.

This is a contract with a bank and the whole industry is inside IR35.

The rate is great though so not too bothered but then again I tend to look at what I trouser rather than what HMRC take and it is better than my previous outside gigs.

[dsc]

70k grad roles are possible but with heavy caveats

Investment banking (work 100+ hours a week)
Law (work 100+ hours a week)
FAANG (not sure of hours but in a slump anyway)
Quant hedge fund (need to be a genius, someone who finds a Maths degree a walk in the park)

Unless you need some uber special skills / big brain, why would you pay so much? if you can get similar skill for half the money, you pay half the money, heck you can probably get people with the right skills + experience for say 50k, so why even take on a grad? unless you want them to work those crazy hours, but even then more than one will apply, so again, why pay 70k?

[gables]

It used to be that IT graduates got about 3 times minimum wage after graduating uni, i did. But now minimum wage is 23K. Not many will be getting 70K out of uni.

Hmm, I've got in my mind grads in general started on roughly the UK average salary, maybe variation based on location. This was the case for the firm I started with which was DEC, it was 1989 mind so before minimum wage so can't compare it like that and there were less of us with degrees, maybe things have changed and grads are paid lower than this.

[gables]

70k grad roles are possible but with heavy caveats

Investment banking (work 100+ hours a week)
Law (work 100+ hours a week)
FAANG (not sure of hours but in a slump anyway)
Quant hedge fund (need to be a genius, someone who finds a Maths degree a walk in the park)

Not all firms are like this... my son and girlfriend are recent law graduates and also post "2 year traineeship"* which seems to be a law thing where they were paid about 26K. They're now both on 80K and don't work those types of hours but typically nearer 40-50. This is London based.

*in my day this was called a graduate scheme and didn't last so long

[tjccjt01]

Four months on the bench and I've finally landed a new contract. It's with a client that I've worked with a few times before and they're paying the same rate as two years ago. At the moment that seems like a win.

Good luck to everyone who's still looking.

T

[edison]

Hmm, I've got in my mind grads in general started on roughly the UK average salary, maybe variation based on location. This was the case for the firm I started with which was DEC, it was 1989 mind so before minimum wage so can't compare it like that and there were less of us with degrees, maybe things have changed and grads are paid lower than this.

Three times minimum wage seems a bit high for new graduate salaries in years before the minimum wage was introduced. I would have guessed nearer to about 2-2.5 times. When the UK minimum hourly wage was introduced in 1999, it was equivalent to about £7k.

I've seen a few different data sources but the average starting graduate salary recently seems to be about £30-31k. This average masks huge variations though depending on degree subject, university and industry sector.

Oxford Computer Science grads have the highest average graduate salary 18 months after graduating than any UK course - £65k.

I think there will be very few jobs at £70k immediately after graduating apart from in law, investment banking etc. If you want to make a lot of money long term, go study medicine, maths, economics or law. Computing and business subjects are the next level down.