What Is A Good Graduate Salary In 2021?
As part of our Graduate series, we wanted to take a deeper dive into graduate working life. In particular, what a good graduate salary looks like.
As the UK’s largest assessments and training provider, we understand how difficult it can be to navigate the job market once graduating. With over 25 years experience, we recognise that you have spent time developing your skills and should be paid adequately for them. So, how do you know if you’re being overpaid or underpaid? We thought it would be helpful to explore what a ‘good’ graduate salary looks like in 2021.
Of course, salaries range depending on the industry. In the list below, we have detailed the average salaries of graduates, according to their chosen discipline:
- Languages - £25,000
- Law - £22,000
- Business - £25,000
- Economics - £29,700
- Medicine - £33,500
- Marketing - £23,000
- Biological Sciences - £23,489
- Chemistry - £24,000
- English - £23,000
- Drama, Dance, Film - £20,000
- Sports Science - £23,000
It is important to note that your earnings will only increase with experience. Furthermore, your salary largely depends on what career path you take – so make the most of your degree and scope out further training requirements and graduate schemes early on.
At Pareto, our graduate schemes don’t just find you a job. We match you to your perfect role and support you in building your graduate career, giving you 128 hours of ongoing training and support.
What Are The Fastest Growing Salaries of 2021?
- Software Developer: +8.8%
- Marketing Assistant: +6.5%
- HR Manager: +4.5%
- Loan Admin: +4.9%
- Sales Manager: +5.5%
(According to Randstad)
Does Graduate Salary Vary By Region?
In short, yes. According to prospects, Graduate Outcomes data shows that London is the region with the highest salaries, with a £5,611 a year difference between Northern Ireland (the region with the lowest graduate salaries).
- London - £27,256
- South East - £24,254
- Scotland - £24,151
- East of England - £24,076
- West Midlands - £23,117
- South West - £23,095
- East Midlands - £22,828
- North East - £23,014
- Yorkshire and The Humber - £22,528
- North West - £22,537
- Northern Ireland - £21,645
- Wales - £22,270
COVID-19 and Salaries
Due to the reverberating effects of the pandemic, digitalisation continues to be the driving force behind many corporate recruitment needs.
Certainly, the impact of the past year has caused many businesses to rethink their workforce strategy, placing significant emphasis on employee mental health and adapting to change. In order to facilitate this new approach, HR managers have increased their workload by offering support and adapting the business to better work for employees.
As a result of this, salaries for HR-related roles have increased by 2.6% on average across the UK. The North sees the greatest increase with HR assistant salaries up by 6.3% in the North East and an average increase of 4.5% across the North West (according to Randstad).
Areas Experiencing High Investment And Graduate Recruitment Drives
The easing of Covid restrictions and reopening of various sectors meant demand for workers rose at its fastest rate in May for more than 23 years, according to KPMG. But the number of staff available to fill those jobs declined at the quickest rate since 2017.
Of course, IT-based roles are still in high demand, particularly due to the rapid switch to remote and home working. We work with industry-leading companies and big names such as Virgin, Oracle, Finastra, Access Group, and Adobe to fast-tracking graduates into key sales and tech positions.
Moreover, digitalisation has increased the demand for talented managerial positions. As a result of this, we developed Pareto Innovate. A brand new service targeted at talented graduates looking to progress into project manager roles. Pareto Innovate provides graduates with vital workplace experience, sector-specific skills and market insights from our established tutors.