Last week I had the pleasure of attending the Australian Association of Graduate Employers annual conference. It was a 3-day event that took place at the Hilton in Sydney.
With over 300 delegates, including over 180 employers, it was a fantastic opportunity to get more of an understanding of what employers are looking for in graduates and what the industry trends are.
In this post, I’m going to provide you some key statistics and insights that every graduate needs to know.
Average Graduate Salary: $58,000
Average Graduate Salary (Mining – highest): $83,000
Average Graduate Salary (Manufacturing and Industry – lowest): $52,000
Vacancy rates for 2013: down 18%
Median number of applications: 1,100 (10% of employers have over 4,000 applications per year)
Medan Applications per vacancy: 48, the highest number in the last 8 years.
Applications are increasing every year while vacancies dropping, leading to greater competition among graduates for roles.
Applicant Success Rates at Different Stages of Process:
Invited through to first round of screening: 32%
Progressed from first round to final round of screening: 32%
Positions offered to those that attend final round: 41%
Offers accepted: 88%
Training on Graduate Program:
Technical training: 12 days
Soft skills: 8 days
Why do Employers Hire Graduates?
Leadership development: 61%
Fill entry-level roles: 39%
Student Work Experience:
Volunteer Work While Studying: 52% (increasing year on year)
Experience With New Employer: 27% (predominantly through internships and vacation programs)
When Do Students Start Searching For Employment?
Penultimate year: 44%
Final year: 41%
Number of Applications Per Student:
1 Application: 19% (95% of which got the job)
20+ Applications: 10% (spray and pray approach).
Length of Time from Application to Offer:
Up to one month: 30%
One to two months: 29%
Length of Time from Final Round to Offer:
Average: 2 weeks
Within 24 hours: 23%
Number of Offers Received Per Student:
One offer: 66%
Two offers: 23%
Three offers: 8%
Four + offers: 3%
Other Interesting Statistics:
Offer Accepted Was First Employment Choice: 75%
Students Applying for Jobs Outside Their Degree: 24%
Students Using Social Media as Part of Job Search: 61% (increasing year on year)
What Does This Mean For Me?
Now, you’re probably asking so what does this actually mean to me?
To me, there are two key takeaways for you based on this information:
1) You need to get targeted with your applications
2) You need to start building your leadership experience to develop the skills required for the role
Targeting Your Applications
As the statistics above show, only 19% of students submitted just one application. However, from this pool of applicants, 95% of them received a job offer. What does this tell you and what do you think it is that sets these students apart?
Take the time to understand exactly what you want from an employer. Which industry do you want to work in? What kind of culture do you think is best for you? What kind of income are you after? Which companies have products or services that you are interested in and passionate about?
The clearer you can become on the type of employer, or the employer you want to work for, the more you can target your application, your experience and your research.
Taking the time to write a quality application as opposed to providing 20 copy-and-paste applications may just be the best thing you can do to launch your career.
Building Your Experience
A growing number of students are recognising the need to gain valuable experience to help them land a job with their preferred employer.
The competition among graduates is increasing each year. This year, there is an average of 48 applications per role. This means that you have to be in the top 2% of graduates to be offered a role.
With graduates all over Australia looking to land the same job as you, you need to think about how you can set yourself apart and build experience that is highly related to the job that you want to apply for. The more relevant your experience, the better your chances of performing throughout the application process.
Key Tip: Don’t wait till your final year to start building experience. Start as soon as you can. Look for casual opportunities in the discipline that you want to work in as early as you can in your university life.
Resume Writing and Cover Letter Services
At Gradrecruit, we’re also pleased to introduce our personalised resume writing and cover letter services for you.
To help you stand out from the crowd and make it through the application process, please check out our Resume Services page. We can support you with your resume, your cover letter and your LinkedIn profile.