Britain's New Graduates Will Find Jobs and the Best Money North of London
There's good news and not-so-good news for Britain's class of 2016. The jobs are out there, in some cases at salaries far better than imagined. The best ones, however, are outside of London, not-great news for anyone wanting the excitement of the British capital.
A majority of this year's graduates expect to find work shortly after leaving, and almost three of every four job seekers expect to be employed within three months, according to a report Wednesday from Reed.co.uk, the U.K.'s largest commercial job board. The number of job advertisements is up 11 percent since last year, Reed said.
Surprisingly the best money is north of London. That's because Liverpool's average starting salary is just shy of £34,000 ($49,000), easily beating the capital's offering of about £30,000, Reed reported.
But before packing your bags, it's worth considering that securing a job in Liverpool won't be easy. While the city can offer a tempting starting salary, it has fewer job opportunities than London, Manchester, Birmingham, Leeds, Bristol, Reading, Nottingham and Cambridge.
The most lucrative industry is accounting. With an average starting salary of £50,466 it dwarfs those starting out in financial services (£30,365), information technology (£31,360), consulting (£33,858) and even construction and property (£40,963). The survey found newly minted accountants were earning a whopping 46% more than they expected, leaving a lot of pleasantly surprised young bookkeepers dotted across the country.
As the cost of living surged in places like London, so have salary expectations. Expectations of pay have jumped 37% in the past five years, from £20,664 then to £28,362 today. The good news is that these expectations are largely being met, with only a 1% difference between the average expected salary (£28,362) and the average offered salary (£27,966).
So for all those risk-taking graduate accountants out there, who don't mind living on the edge, consider working in Liverpool for a chance at a salary that'll be the envy of all your former classmates writing code in London.