Guardian Grad Facts | beyondoxbridge

Some survey numbers from The Guardian…

- one-third of graduates think that salary is the most important factor
- the average expected starting salary is less than £22k
- media and education hold most appeal
- 36% of students decide upon their career pursuit before university, with 19% in the first or second year, 18 % in the third year and 27% still undecided when leaving

Do we think these numbers are applicable to Oxbridge or other Russell Group Universities?

An economist should tell you that a graduate with greater earning potential will attach a greater weight to money in the career decision. There’s some truth to this in practice, but it’s fair to say that each Oxbridge graduate’s decision is delicate a function of work-life balance, intellectual challenge, work environment and money. Being a top graduate is about maximizing all of these parameters. (One unknown involves the uncertain cost of exploring the full range of options, so it’s lucky that beyondoxbridge reduces this - behavioural economists could rattle on about this point as well.)

Expected starting salary? This would be clearly higher for Oxbridge, but maybe the distribution would be much more skewed (i.e. the mean is brought up by a significant minority of magic circle lawyers, bankers, strategy consultants, etc. £22k is around about the starting salary in advertising, which most Oxbridge graduates would tell you is poorly paid. But then what about all the poorly paid Oxbridge graduates working as runners for films or TV? And is there some systematic bias (optimism/ pessimism) created by assessing expected starting salaries rather than actuals?

Which sectors are most popular? Firstly, I think the opportunities open to Oxbridge students are poorly captured by a category that is simply ‘finance’. Investment banking, financial consulting, investment management, etc. involve fine distinctions that are important to top graduates. Clearly, sectors such as marketing and the Civil Service would also be higher up the pecking order. What about politics (all the Tories featured in a recent Tatler shoot seemed to be from Oxford)? Education is popular (through Teach First and the PGCE), but I can’t believe that it is as popular for Oxbridge as elsewhere.

As for when the decision is made, it’s difficult to argue with the stats here. There might be distinctions revolving around the amount of career research we do (unpaid internships, etc.) and narrowing down sub-sectors, but there must be plenty of budding bankers and politicians who know before university that the City or Westminster (via internships or the Union) are for them.

For those who make their mind up later, beyondoxbridge is here to help…

industry focus: Accountancy, Architecture, Arts & Heritage, Advertising, Actuarial, Banking, Charity, Construction, Consulting, Development, Education, Energy, Engineering, Finance, Insurance, IT, Legal, Marketing, Medical, Media, Non profit, Pharmaceutical, Public relations, Public sector, Recruitment, Sales, Other

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