Graduates look for more than salary, EY research says
Money is no longer all that attracts graduates to a company, according to EY.
Salary is no longer the main attraction for graduates that are considering their employment options, according to a new survey from Ernst and Young. The poll of more than a thousand students found that salary and benefits was no longer the number one consideration for graduates, despite coming joint top in last year’s survey.
In fact, salary and benefits has dropped way down the rankings, coming in at the fifth most important consideration. Only 11 per cent of respondents in the survey said that the size of the wage packet on offer would be the deciding factor, the most commonly cited factor observed since the poll was first run in 2007, according to EY.
“Money clearly isn’t king for today’s graduates as this drop in importance shows,” said Julie Stanbridge, head of student recruitment at EY.
“With the graduate job market recovering, the class of 2015 are making longer-term decisions about what their first job will bring to their career prospects, rather than focusing on the quick win,” she added.
It seems that training and development opportunities is now the number one attraction for graduates, as it claimed the top spot in this year’s poll all for itself - it was joint leader in last year’s survey alongside salary and benefits.
Furthermore, graduates are also placing greater importance on the prospective environment they would be working in, including the relationships within it. The people and culture category, and having a job with a good work-life balance category, both rose up the rankings in the poll this year, cited by respondents as the most important factor by 21 per cent and 13 per cent, respectively.
In a City AM article, a Morgan McKinley spokesman noted that the emphasis these days is in selling the whole package. Businesses should highlight the values they hold, the diversity of the firm, the progress, and opportunity to get involved with more than just the day to day operational aspects. Companies should look at “attracting individuals more for the longer term”, said Hakan Enver, London operations director of City recruiter Morgan McKinley.