Life as a Graduate: Not as Bad as You Thought
By the time you reach your final year of university or college, you should be itching to get out there and make your mark on the real world. Like a racing horse waiting to be let out of the gate, you’ve had all the training and preparation and now it’s time to perform on the big stage. For those slightly unsure of what the future holds, don’t worry, things are starting to look like they are on the up.
The Job Market is Getting Better
For the last 5 years at least newspaper’s headlines have been awash with stories covering graduate unemployment and horror stories of unpaid internships. The job market is always going to be tough because you have to keep putting yourself out there until the right one comes along, in a way it’s like not knowing what size feet you have and having to put your feet in every size pair under the sun until you get the right ones. You get there eventually, which is the most important thing to remember. The Telegraph recently found that the employment rate for graduates is 87%, compared to 83% for those with only A Levels to their name and 76% for those school leavers with just GCSEs.
Earning a Living
Although the idea of losing the financial security that comes along with the bank of Mum and Dad, the loss of your student loan buffer and not to mention the giant safety net which is the interest free overdraft is more than just a little scary. It’s terrifying, but, the feeling of not wanting to live on hand outs is stronger and being able to say to yourself and anyone who asks, “actually, I did it all by myself,” is a bigger deal. It’s not just about pride; it’s about confidence, independence and earning a living which is a rite of passage to becoming a fully-fledged adult. Once you’ve secured a job no matter if it’s part-time or full-time, that pay packet will feel like a breath of fresh air to your bank balance.
According to a recent report from the HECSU, graduates can expect an average salary of anything in the region of £18,000 to £24,000, while other studies conducted stated potential first job salaries could reach as high as £29,000.
Housing Market is on the Up
Albeit it is highly unlikely that you’ll be looking to buy up property once out of halls of residence, it is good to know that getting onto the property market isn’t as difficult as it was a few years ago. It may be unlikely in the first couple of years of graduate life but when the time does come for you to start considering a moving company, the market will be in even better shape.
With the Help to Buy scheme, it will mean that instead of having to put down a 10% deposit on a property, you will only need 5%, so your renting days could be over sooner than you thought. Many people have already had a positive experience with the scheme, such as one couple who recently purchased one of Abel Home’s new homes in Norfolk, they said: “The Help to Buy scheme enabled us to buy the house we really wanted, as well as accessing a better deal on our mortgage.”
So as much as you may cherish the safe haven that is University, the world is waiting for you and it looks like it’s only becoming more and more of an inviting place to be.