While at university, students often believe that large firms and corporate giants are the only places which have job opportunities. Students seem to believe that they have only two options to choose from; either get into a graduate scheme in the UK with firms such as KPMG or Accenture or become a failure with respect to the job mark.
The current prospective job-seeker faces an abysmal scenario on account of the economic and employment conditions. And the students are not to blame as they are exposed to the concept of brands and their economic value through the rise of consumerism. Students themselves feel their futures are with larger companies and any failure to place themselves in such a company causes a wave of anxiety to wash over the prospect.
The time between Christmas and Spring is generally a time which is crammed with applications, cover letters, examinations, psychometric tests and essays about one’s potential. Then when the reply comes back thanking the prospect for their effort by their application has been rejected, the prospect turns against the system, blaming it and rightly so.
A Saturation of Labour
There are almost seventy-three graduates applying for each job, such as the saturation in graduate labor. As graduate’s face an unprecedented 73:1 odds of getting a job, rejection letters have written with institutionalized sympathy add to the stress of the final year of graduation, which is supposed to be the culmination of three years worth of effort.
These students, who should be further streamlining their academic base and achievements spend a lot of time looking and worrying about jobs. There is an urban legend that if someone does not place in a graduate scheme with a large firm in the UK, their futures are not very healthy, however, the truth is slightly different.
Graduate schemes in the United Kingdom are brilliant opportunities to work with the best firms if the prospect is aware of the sector that he would like to get into or the type of role he would be best suited in. The modern work culture has changed over the past two decades and we now have more flexibility and inter-departmental access in the labor market. The graduate scheme with its inherent rigidity seems a little outdated as the modern graduate is not very sure of his goal either. Ask a random assortment of twenty-one-year-olds about what their plans are and more likely than not, the answers are vague, undefined and still under conceptualization.
Small and Medium Enterprises
Only a minority of students get picked for the hallowed graduate scheme route. In 2012, Small and Medium enterprises held nearly 99.9 percent of the entire private sector. These SMEs have an annual estimated turnover of around three thousand one hundred billion pounds.
Surprising isn’t it?
With SMEs looking to grow and expansion plans being laid out, graduates have a lot to gain from looking at SMEs as a career option but they do not factor into their plans.
SMEs offer internships to begin with it, and they’ve been taking a hit in terms of reputation. They’ve been labeled as being equal to unpaid labor and the exploitation of a desperate graduate base. The recent bills that have been passed have made changes to the advertisements of unpaid internships and there is a change in the perception of internships by graduates.
In this current job scenario though, if a graduate stares at the list of companies to apply to and balks at his chances, he should realize that even if he does not place into a lucrative graduate scheme in the UK, there are still great opportunities available for exploitation in the form of growing SMEs.