Top 9 Graduate Starting Salaries by Industry

AFS Team·14 April 2014·5 min read
Top 9 Graduate Starting Salaries by Industry
With graduate unemployment rates constantly rising, it’s no surprise that students wonder why they came to university from time to time. But some industries require specific skillsets, which only graduates hold. Plus, some of these industries pay handsomely. From investment banking to consulting, here’s where to find the highest graduate scheme salaries. 1. Investment Banking If you’re an extremely smart cookie, who isn’t afraid to work long hours (up to 15 a day) and provide analytical information under pressure, then you might be a good fit for investment banking. On average, salaries start at £45,000, and these can increase after a few years of work. There are also many roles under this industry banner, from investment and retail banking to accountancy and financial advice. 2. Law Graduates looking to enter the legal industry can expect salaries of around £38,000 to start with. Once more, there are many positions that the term ‘law’ hangs over: Family law, employment law and human rights are among the areas graduates can specialise in. A postgraduate course in law will help you to train for one of these disciplines. 3. Oil and Energy Geology, chemistry, mathematics and physics graduates are all wanted for roles in the oil and energy industry. Newbies can earn around £32,500 through an industry starting scheme, but it’s not easy to break into oil and energy. If you can secure work experience prior to starting the job hunt, get it and put yourself ahead of the competition. 4. Media That’s right, media. That means it’s time to stop making all of those nasty jokes about media studies being a ‘mickey mouse’ degree. On average, graduate schemes in the media industry start at £32,000. Of course, for this field previous experience is helpful when it comes to getting a foot in the door, so if you can find work experience then take it. 5. Consulting Graduates looking to get into consulting can expect to start with a £31,500 salary. If you’ve got great business awareness, are good with numbers and aren’t afraid to work as part of team, you might want to look into the business consulting and management industry. Yet again, there are many areas of specialisation under this industry heading, including strategy planning, IT and human resources. 6. Dentistry If you’re a dental foundation graduate, you can expect a starting salary of approximately £31,000 in dentistry. General dental practitioners (GDPs) are mostly self-employed and can work hours that suit them, while hospital dentists work short-term contracts and have on-call responsibilities. Have a think about what kind of hours you’d prefer. 7. IT and Telecommunications The IT and Telecommunications industry can offer graduates up to £30,000 to start off with, and you don’t need a degree in computing or electronic engineering to get involved (though you will have to take a conversion course if this is the case). Typical career paths include: IT management, system design and software design and development. 8. Armed Forces Depending on which area of the armed forces you’d like to work for, you may not need a relevant degree to get a foot in the door here. However, if you’re after a specific role (such as physical trainer), then you’ll need to have a more focused degree. Graduate salaries start at around £29,500. 9. Medicine Careers in medicine start with salaries of £29,000 on average. As work in this industry can be time-consuming and stressful, it’s worth talking to current GPs and hospital doctors to find out more about their working conditions and get an idea if this would be right for you. Source: Graduates.co.uk Written by Greg Henley