Graduating from university is a key milestone. However, for many London-based graduates, the transition from university to the workforce is not smooth. London is renowned for its abundance of graduate jobs, but many fresh grads are finding it difficult to land a position. Why is this? Read on to find out why London graduates struggle.
1. Oversaturation in the Job Market
London is often regarded as the best place in the UK to secure a graduate job.
As such, it attracts an influx of new grads from across the country. Furthermore, many of the top universities in the UK are located in London including the London School of Economics, UCL, Kings College London, Queen Mary and Imperial College London, attracting students from all over the world. Graduates believe, that to make it in the corporate world, they’ve got to go to London. This intensifies the competition for positions.
The capital may have more graduate jobs, but the sheer volume of applications means many young people find themselves without offers.
London cannot accommodate every graduate who comes in search of work.
Even though the city leads the UK in graduate employment, with 65% of working graduates in jobs requiring a degree (compared to the national average of 57%), the pool of applicants is enormous.
For every job, countless candidates are vying for the exact same opportunity, making it much harder to stand out as the competition is fierce.
2: The Growing Importance of Work Experience
In today’s competitive job market, grades alone are not enough to secure a graduate job, especially in a competitive city like London. Graduate employers prioritise candidates who have relevant work experience. For example, graduates who have interned opted for placement years or even volunteered in fields related to their desired career are more likely to stand out for the right reasons.
Too many graduates enter the job market with minimal work experience. While university degrees provide theoretical knowledge, they don’t always equip students with the practical skills that employers demand. London’s fast-paced industries such as Law, Investment Banking and Consulting often demand a cohort of fresh graduates who can hit the ground running, making it difficult for graduates who lack work experience to make it to the interview stages.
3: High Cost of Living Creates Financial Barriers
London is known for its high cost of living. This creates a barrier for several graduates, especially if they were not born and raised in London. Many graduate jobs offer entry-level salaries that may not cover the cost of rent, transportation, and living expenses associated with living in the capital. As a result, some graduates are forced to take on temporary or part-time work just to make ends meet, which can delay their search for a full-time graduate role.
Furthermore, many unpaid internships or low-paid graduate schemes are based in London. This makes it financially demanding for graduates to gain the experience they need without an income that can support city life.
4. Lack of Networking Opportunities for New Graduates
Networking is an underutilised method of securing graduate positions, even though, many opportunities are not advertised online. Despite this, many London graduates struggle to form professional relationships and are unaware of how important networking is for landing opportunities.
Those who don’t engage in networking events and job fairs in the city of London find themselves at a disadvantage.
London offers plenty of networking opportunities, but not every graduate knows how to leverage them effectively.
Many students graduate without any connections to industry professionals or gaining access to mentorship, which can further hinder their ability to navigate the job market.
Here at Graduate Coach, we help students and graduates to build up their professional network and land graduate roles, through our one-to-one graduate coaching programs.
5. Unrealistic Expectations of the Job Market
Many fresh grads enter the London graduate job market with high expectations of landing a well-paid role immediately after finishing university.
However, in reality, many graduate roles are entry-level and do not come with the prestige or high salary that some graduates anticipate in the capital.
This mismatch between expectations and reality can lead to frustration and a longer job search.
Graduates may turn down opportunities that don’t meet their expectations, leading to missed chances to gain experience and climb the career ladder.
The key is to get your foot on the career ladder as securing your first job in the city is often the hardest. Once graduates have one or two years of experience under their belt, it becomes easier to secure subsequent positions.
6. Intense Competition from International Graduates
London is a global hub, not just for UK graduates but also attracts thousands of international students who are keen to build their careers in the city of London.
This means that London graduates are not only competing against other UK graduates but also other highly skilled international candidates who may have a broader range of experiences, perspectives and language skills.
Conclusion
Despite its abundance of opportunities, securing a graduate job in London can be a challenging process for new graduates.
This post has highlighted the key reasons why.
If you are a London-based graduate who is hoping to excel in the city, it is vital that you:
- Gain as much work experience as possible to pad out your graduate CV.
- Craft an achievements-based CV that demonstrates your skills and achievements.
- Accept all interviews and consider all job offers carefully to ensure you do not miss any opportunities to get your foot on the career ladder. You can always switch jobs when you’ve gained more experience.
- Leverage the wealth of networking opportunities in the city. Attend job fairs and industry events to form connections with leaders in your field.
If you are a graduate who needs support in finding a good graduate job in the city of London, get in touch with us today. Our 1-2-1 career coaching based in London Victoria help you land a graduate job and set you up for success in your role.
Featured image: Photo by Karolina Kaboompics
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