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Job market more competitive than ever for graduates

by Victoria Mclean - 11/14/2011

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While the first term of the academic year is just getting underway, accountancy firms up and down Britain are saying they have already become inundated with job applications from final year students. They have also described a considerable increase in the number of graduate applications received compared to last year.

According to figures released in The Times on Wednesday 2nd November, KPMG have received a staggering 7,200 applications for just 850 jobs, while Ernest & Young have received 3,200 applications for 800 jobs. Deloitte have described a similar "surge" in applications, with some firms going so far as to say they could already fill next year's vacancies several times over.

So what can students facing graduation do to prepare? Stephen Isherwood, head of graduate recruitment at Ernest & Young, has advised future graduates against focusing on jobs in London: "People become fixated on London but they will have the same career options in any one of our 22 cities… Only about half of our jobs are in London." He believes that casting a wider net may raise their chances of securing a position, especially as less central offices have struggled to fill all of their roles in the past. Martin Birchall, editor of The Times Top 100 Graduates, agrees: "The recession has forced students to be more realistic and look where the jobs are."

While students are feeling the pressure to do the best they can academically, there also seems to be a consensus that solid grades alone might not be enough. Ernest & Young, KPMG and PwC have all witnessed fierce competition for their summer internships, which stand first, second and third year students in good stead for when they leave university. Richard Irwin, leader of student recruitment at PwC, said: "We have seen that students' attitudes have shifted towards understanding more about employability. They are looking to secure work experience and internships earlier, rather than just relying on the degree and on the experience on their CV to get their foot in the door with employers."

With the job market for graduates at its most competitive, there has never been a time when investing in your future was more critical or tough. PwC recently reported a 90% increase in job applications: when surrounded by so many other candidates, it is vital that you have a covering letter and graduate CV that stand out from the crowd.

City CV can help you get the best from your career investment budget. We offer a comprehensive package for talented new graduates who can't wait to get started, including a graduate CV writing service, graduate application coaching and graduate interview training.

Talk to us about your career plans, your CV or just how to optimise your campaign, at http://www.citycv.co.uk

Article Source: http://www.articlesbase.com/resumes-articles/job-market-more-competitive-th an-ever-for-graduates-5393480.html

A Certified Advanced Resume Writer and a Professional Employment Interview Coach, Victoria has an academic background in Industrial Economics and over fifteen years experience across the CV writing, interview coaching, recruitment and management arenas. This includes, working onsite as Recruiter and Recruitment Manager at two of the world's largest Investment Banks; Goldman Sachs and Merrill Lynch. Having reviewed tens of thousands of CVs and conducted interviews on behalf of investment / retail banks, insurance giants, Big 4 accountancy firms, the Stock Exchange and Management Consultancies, Victoria has an understanding of what the employer is looking for in a CV and at interview. Her strength lies in her ability to draw out relevant experiences, competencies and achievements and translate these into a winning format both on paper and face to face. Victoria is a member of CDI, Career Directors International and of PARW, the Professional Association of Resume Writers.