2024 UK Graduate Job Market Analysis for International Students
As international students in the UK finish their studies and turn their attention to the job market, many are eager to secure graduate positions with visa sponsorship. At the same time, new students are arriving to begin their courses, particularly master’s students, who often need to start planning their career search early due to the short duration of their programmes. For these students, as well as those who graduated from universities outside the UK, now is an ideal time to start exploring job opportunities and preparing for the competitive UK job market.
The challenges posed by the COVID-19 pandemic and subsequent economic uncertainties have left many students anxious about securing employment. After a year of strong recruitment in 2022, the market saw a downturn in 2023, with unexpected layoffs across several sectors. Nevertheless, the Highfliers Graduate Market Report 2024 indicates that opportunities remain for international students, with gradual recovery expected in some industries.
Market Overview
The job market in 2024 is cautiously optimistic. Despite the unexpected decrease in graduate recruitment in 2023, when vacancies fell by 6.4% instead of rising by the forecasted 6.3%, this year shows a modest increase in vacancies of 1.5%. Although the market has not rebounded as quickly as anticipated, key industries such as engineering, industrials, and the public sector are leading the recovery.
At UK Visa Jobs, we have observed a fluctuating but increasingly challenging landscape for international students requiring visa sponsorship. Last year, approximately 1,500 visa-sponsored graduate jobs were listed at the peak of the market, but in 2024, this number may not see the same levels. Due to the recent increase in the salary threshold for the Skilled Worker Visa, many employers that previously sponsored international graduates have reduced their sponsorship or stopped offering it altogether.
While some employers still prioritise international talent, particularly in high-demand sectors like investment banking, consulting, and engineering, the overall pool of visa-sponsored graduate roles has become smaller. As a result, students must be more strategic and proactive in their job search, focusing on sectors that offer competitive salaries or are still actively sponsoring international graduates.
Industry Trends and Graduate Vacancies
The report highlights a mixed outlook for different industries. While sectors like accounting & professional services and technology saw reductions in their recruitment targets, engineering & industrials and consumer goods are expected to grow substantially. The demand for graduates in engineering & industrials is set to increase by over 20%, offering excellent prospects for international students with relevant qualifications.
On the other hand, accounting & professional services, traditionally a top recruiter of international graduates, is reducing its intake by 8.2% in 2024. Despite these cuts, the industry remains an essential sector for visa-sponsored roles, though at a slower pace than in previous years.
Public sector roles, particularly in healthcare, remain promising for international graduates. The NHS, as one of the largest employers in the UK, continues to provide visa sponsorship for roles in healthcare, making it a vital option for students in these fields. You can easily apply for visa-sponsoring NHS jobs here.
Graduate Salaries
For the third consecutive year, graduate starting salaries are on the rise. The median starting salary for 2024 is £34,000, an increase of £500 from 2023. The highest-paying sectors continue to be investment banking (£55,000), law (£50,000), and consulting (£47,500). These competitive salaries reflect the demand for top talent in these sectors, making them attractive for international students who can secure roles in these industries.
Even though salaries vary by industry, the steady increase in pay offers reassurance that the UK remains a rewarding place to begin a graduate career, especially for international students with in-demand skills.
Competition and Application Volumes
The 2024 job market is highly competitive. The number of graduate job applications has surged by 27%, with many sectors seeing a doubling in applications. Despite this, international students still have opportunities to stand out by targeting industries with high demand for their skills.
To improve their chances, international students and graduates should focus on building a strong CV, networking, and applying early to roles in industries with higher demand for graduate talent. September and October are the high season for graduate job applications, as the majority of visa-sponsoring employers hire during this period.
Key Sectors for International Students
Financial services, accounting & professional services, engineering, and technology continue to provide the most visa-sponsored graduate roles. The Big Four accounting firms remain important employers of international talent, although their intake has slowed. Financial services firms such as HSBC, Barclays, and JP Morgan remain key players for international students seeking roles with sponsorship. Engineering firms like Arup, WSP, and Mott MacDonald are also critical employers, offering visa-sponsored roles for graduates with engineering and industrial backgrounds.
Contrary to traditional belief, all of those sectors have many jobs open to graduates from any degree background. You do not have to have studied in one particular subject to be eligible for applications. Therefore, it is important to prioritise those key sectors when applying for jobs with visa sponsorship. You can find all recently opened graduate jobs with visa sponsorship in all those sectors here.
Public Sector Opportunities and Visa Sponsorship
While the public sector is the largest employer in the UK, visa sponsorship is limited in some areas. Roles in government and the armed forces often do not offer sponsorship due to the sensitive nature of these positions. However, the NHS remains a significant employer for international graduates, particularly those pursuing healthcare careers. For those in healthcare and other public sector fields, the NHS graduate scheme remains one of the best opportunities to secure a visa and build a long-term career in the UK. Please stay tuned about visa sponsoring Graduate opportunities from the NHS on UK Visa Jobs, as we will post those jobs as soon as they are open.
How to Stay Ahead in 2024/2025
Given the increased competition and fluctuating industry trends, international students should adopt a proactive and strategic approach to their job search. Here are some tips:
1. Start Early: Research potential employers and sectors as early as possible. Attend virtual and in-person career fairs and connect with alumni to expand your network.
2. Highlight Transferable Skills: Employers value candidates with transferable skills such as communication, problem-solving, and teamwork. Tailor your CV and cover letter to showcase how these skills can benefit prospective employers.
3. Consider Internships: Internships are an excellent way to gain experience and build a professional network. Many companies offer internships that can lead to full-time roles, and some may even sponsor a skilled worker visa after the internship.
4. Use Online Resources: Take advantage of platforms like UK Visa Jobs, LinkedIn and university career services to find job openings and resources tailored to international students.
5. Seek Professional Guidance: If you encounter difficulties in your job search, don’t hesitate to seek help from career advisors or use resources like UK Visa Jobs for targeted advice.
How UK Visa Jobs Help Graduates
At UK Visa Jobs, we are dedicated to helping international students and graduates find visa-sponsored job opportunities efficiently and with confidence. Our platform exclusively lists jobs that offer visa sponsorship, eliminating the time-consuming process of searching through roles that do not meet this crucial requirement. With regularly updated listings from a wide range of industries, including finance, engineering, and healthcare, we ensure that users have access to the most relevant and up-to-date opportunities. Additionally, our career resources and expert advice on visa processes provide the guidance students need to navigate the UK job market successfully. By focusing on roles that align with candidates’ qualifications and visa needs, UK Visa Jobs makes the job search faster and more streamlined, bringing them closer to securing their dream role.
Conclusion
The 2024 UK graduate job market presents challenges and opportunities for international students. While some industries are scaling back recruitment, others, particularly engineering, public sector, and consumer goods, offer promising prospects. With rising salaries and increased competition, international students must be strategic in their job search, focusing on industries with higher demand for their skills and staying proactive in networking and professional development. Despite the challenges, with the right preparation and mindset, international students can successfully navigate the UK job market and secure rewarding careers.