2023 UK Graduate Job Market Analysis for International Students
As the busy exam period comes to an end for the time being, international students in the UK are looking towards the job market with both hope and uncertainty. The COVID-19 pandemic has disrupted the global economy and the job market in unprecedented ways, leaving many graduates and students anxious about their prospects. While 2022 was a year of hiring, 2023 started with layoffs in many industries.
However, according to Highfliers Graduate Market Report 2023, the market does not seem bad for international students in the UK as well as student & graduate job applicants based outside the UK.
In this article, we will analyse the report, outline current job market trends and provide some insights for international students in the UK.
The Market
According to Highfliers, the number of graduates recruited in 2022 jumped by 14.5%, compared with graduate recruitment in 2021, the biggest-ever annual increase in graduate vacancies, taking graduate recruitment to its highest level yet. This trend aligns with what we have seen at UK Visa Jobs. Last year, UK Visa Jobs had c.1500 visa-sponsored graduate jobs on the website at its peak, the highest in UK Visa Jobs history. Those posts represent c.10000 vacancies.
In 2023, the market is expected to increase by a further 6.3%, meaning there will be a lot of demand for graduates and students. It will allow more international students and graduate job applicants from outside the UK to land their careers in the UK. Stay tuned to UK Visa Jobs to be the first to know about new job openings with visa sponsorship.
Industries & Vacancies
Sectors that recruited the highest number of students and graduates were the public sector, accounting & professional services, engineering and industrials, technology and financial services, including investment banking. Among those, accounting & professional services firms are expected to be the largest recruiters of new graduates in 2023, with a record 7,610 entry-level vacancies available for university leavers.
According to the UK Visa Job’s observation, those industries also had the highest number of visa-sponsoring graduate and entry-level vacancies in 2022, and we expect this to continue in 2023.
Many graduate job and internship applicants may be frustrated, thinking, what if they did not study for a degree in these areas? It is important to remember that c.50% of the jobs available accept applicants from any degree background. Applying for jobs in financial services also does not mean that the graduate will only be doing finance-related jobs. Many of those organisations also offer marketing, communication and law-related roles.
Those vacancies mentioned above were only estimated based on the UK’s top 100 recruiters. There are many other organisations that also recruit interns and graduates, which will push the number of vacancies with visas available well above 15,000. We expect the number of visa-sponsoring graduate vacancies to be well above 1500 around September and October, a peak season for internship and graduate recruitment. If we include internships, the number of internship and graduate vacancies available at visa-sponsoring organisations for applicants will reach 3000 at its peak.
Although most internships do not qualify for visa sponsorship, many organisations consider sponsoring a skilled worker visa or a health and care visa once the intern has successfully completed their internship while their student or graduate visas are valid.
The Competition & Where to Look
On average, employers received 39 applications per graduate vacancy in 2022, making it less competitive than entry-level experienced hire vacancies. If you are considering entry-level jobs, applying for a graduate programme or a graduate job may help you land a job easier.
Big four accounting firms like PwC, KPMG, EY and Deloitte alone hired around 6000 interns and graduates last year. Due to supply shortages in the market, a growing number of professional services firms started hiring international students, making them the largest recruiters of international students.
Banks such as HSBC, Barclays, Natwest and JP Morgan also hire a considerable number of graduates. According to a recent survey conducted by UK Visa Jobs, nearly 60% of international students who landed a job in the UK were hired by accounting and professional services firms and financial services organisations, of which the Big Four accounting firms account for 40%. Engineering firms like Arup, WSP, Arcadis and Mott MacDonald are also leading the game.
Therefore, applying for jobs in industries such as accounting & professional services, financial services, engineering & industrials, and technology sectors will significantly increase a visa requiring graduate applicant’s chance of being hired in the UK.
Jobs in the Public Sector and Armed Forces
The public sector is the biggest employer in the UK. The public sector often includes government, education, emergency services, healthcare, public transportation, refuse collection and social care organisations. However, due to the sensitive nature of some roles, such as roles in the government and armed forces, many public sector organisations and armed forces do not provide visa sponsorship or only sponsor people with many years of work experience in relevant fields. Although the public sector and armed forces hired c.5500 graduates last year, many public sector organisations do not run a graduate programme.
For example, UK’s biggest recruiter for civil service jobs, the Fast Stream, does not provide visa sponsorship, meaning they do not accept international students unless they have their own right to work.
On the other hand, NHS, being one of the biggest public sector organisations in the UK, provides visa sponsorship for students and graduates based in the UK applying for their graduate scheme. It also provides sponsorship for certain healthcare professionals based in or outside the UK, depending on work experience. You can apply for NHS jobs by typing NHS in the search box.
Stay Ahead of the Game
Being an applicant who requires visa sponsorship, you may encounter many challenges during your job search. Some jobs can also be very competitive, so you must be very well prepared. Here are some final tips to increase your chance of success.
Start early: It’s never too early to start thinking about your career. Research potential employers and industries, attend career fairs, and connect with alumni in your field of interest. Building your network and gaining industry knowledge can help you stand out in a competitive job market.
Focus on your transferable skills: Employers are looking for graduates with transferable skills. Highlight these skills in your CV and cover letter, and demonstrate how you have used them in previous roles or experiences.
Consider internships and work placements: Internships and work placements can provide valuable work experience and help you build your network. Many companies offer internships to recent graduates, and many internships and placements will lead to full-time roles, so don’t hesitate to reach out to potential employers.
Utilise online resources: Many companies are moving their recruitment processes online, so make sure to take advantage of online resources such as UK Visa Jobs, LinkedIn and virtual career fairs.
Seek professional advice: If you are struggling to find a job, seek professional advice from your university’s careers service or UK Visa Job’s career advisors. They can provide guidance on job search strategies, CV and cover letter writing, and interview techniques.
The job market for international students in the UK in 2023 can be competitive, but there are many opportunities available. Graduates and students should focus on building transferable skills, networking, and utilising online resources to stand out in a crowded job market. While the pandemic has presented many challenges, it has also highlighted the importance of adaptability and resilience, two traits that are highly valued by employers. With the right mindset and strategies, international students can navigate the job market successfully and build rewarding careers in the UK.
