The Association of Graduate Recruiters (AGR) Annual Survey launched on 29 September 2016 shows that internships offer an attractive route into some of the UK’s top jobs.
Nearly three quarters (73%) of graduate employers hired interns this year, offering 9,390 internships, representing a 13% year-on-year increase in vacancies.
An average of 45% of 2015 interns went on to secure graduate jobs in the same company this year. One in ten employers convert more than 83% of their interns into graduate hires.
Internships offered by respondents are typically two to three months long and paid. Intern salaries are increasing at a faster rate than graduate salaries. This year the median intern wage was £330 a week– an increase of 4% and equivalent to £17,160 a year. Median salaries for graduate programmes among respondents have risen by 2% year-on-year to £27,500.
Banks, engineering and accountancy firms make the greatest use of interns, hiring them in the largest volumes. Banks pay the second highest salary (£21,000 pro rata) next to investment banking (£30,000). The lowest wages for interns are found in energy, water or utility companies (£16,250)1.
Internships aren’t the only viable route onto a graduate scheme. Employers are targeting students at a younger age with the number of higher apprenticeship programmes and school leaver programmes doubling in the last four years.
Article on AGR website