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Are today’s graduates unemployable?

Employers are struggling to fill entry-level vacancies, despite the fact that there are 75 million unemployed young people worldwide, Diana Farrell, director of McKinsey Global Institute told CNBC.

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A new survey conducted by the group says employers struggle with a lack of skills among graduates of academic and vocational courses,particularly for medium and high-skilled jobs, such as teaching and medicine.

‘The gap is tremendous. It’s a real tragedy’, Farrell said.

The shortage of workers in skilled jobs could reach 85 million by 2020, according to McKinsey report. The company defines youth as individuals between 15 and 29 years old.

The survey revealed that just 42% of employers believed young people were adequately skilled.

Farrell said the education to employment system was not working properly and the mismatch between education providers and industry requirements was rendering young people unemployable.

The McKinsey study conducted among 8,000 participants in nine countries revealed half of young people are not sure their postsecondary education improved their chances of finding a job, with the U.K. at a low of 40% and Saudi Arabia at 60%, though local Saudi graduates are guaranteed a public sector job in the country.

‘This is quite low considering how much money is spent on education’, Farrell said.

She said the most successful were those employers who spent time with young people before they finished school, with some kind of on-the-job training or exposure to the kind of work they do.

Writing by Tanya Ashreena, special to CNBC.com


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The Times Top 100 Graduate Employers

Now in its fifteenth year, The Times Top 100 Graduate Employers is the definitive guide to Britain’s most respected and sought–after graduate employers.

The Times Top 100 Graduate Employers

The new Top 100 rankings have been compiled from face-to-face interviews
with 17,737 graduates, who left UK universities in the summer of 2012,
who were asked the open-ended question “Which employer do you
think offers the best opportunities for graduates?”.

The List

Last year’s position is in (brackets).

1 (1) PwC
2 (2) Deloitte
3 (3) KPMG
4 (7) Teach First
5 (4) Aldi
6 (5) NHS
7 (8) Civil Service
8 (10) Ernst & Young
9 (6) BBC
10 (11) John Lewis Partnership
11 (9) Accenture
12 (20) Tesco
13 (12) HSBC
14 (21) Google
15 (13) Goldman Sachs
16 (14) Barclays
17 (16) BP
18 (15) GlaxoSmithKline
19 (24) Unilever
20 (23) J.P. Morgan
21 (18) P & G
22 (17) RBS
23 (22) Army
24 (19) IBM
25 (26) Rolls-Royce
26 (60) Jaguar Land Rover
27 (53) Apple
28 (27) M & S
29 (28) Barclays Inv Bank
30 (25) L’Oréal
31 (29) Allen & Overy
32 (38) Lidl
33 (48) Microsoft
34 (34) Morgan Stanley
35 (31) Shell
36 (30) BAE Systems
37 (37) Arup
38 (32) Lloyds Banking Group
39 (33) Sainsbury’s
40 (35) McKinsey & Company
41 (41) >Sky
42 (50) WPP
43 (42) Linklaters
44 (59) Citi
45 (36) Clifford Chance
46 (45) BT
47 (91) Nestlé
48 (55) Deutsche Bank
49 (44) Slaughter and May
50 (54) MI5
51 (52) Network Rail
52 (57) Freshfields
53 (61) Atkins
54 (56) Credit Suisse
55 (71) McDonald’s
56 (New) European Commission
57 (67) Bain & Company
58 (75) Co-operative Group
59 (64) DLA Piper
60 (40) Mars
61 (46) UBS
62 (89) Santander
63 (62) Boots
64 (79) Asda
65 (77) Boston Consulting
66 (98) nucleargraduates
67 (74) Bank of America
68 (80) Bloomberg
69 (43) Centrica
70 (49) Local Government
71 (51) Arcadia Group
72 (65) Royal Navy
73 (70) Herbert Smith
74 (72) Foreign Office
75 (90) Penguin
76 (39) Cancer Research UK
77 (47) ExxonMobil
78 (New) British Airways
79 (68) Police
80 (New) Towers Watson
81 (58) Saatchi & Saatchi
82 (78) Transport for London
83 (84) Diageo
84 (95) National Grid
85 (New) Norton Rose
86 (63) Oxfam
87 (73) Airbus
88 (81) Grant Thornton
89 (88) Savills
90 (New) GE
91 (87) E.ON
92 (New) British Sugar
93 (69) RAF
94 (85) Oliver Wyman
95 (New) Lloyd’s
96 (82) EDF Energy
97 (86) Kraft Foods
98 (New) BDO
99 (New) DFID
100 (99) Hogan Lovells

Check out the website here; http://www.top100graduateemployers.com/


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Campus Recruitment – 35 Top Hiring Firms

Here is a really useful list of some of the major Financial Services employers currently doing the rounds on campus and a link to their graduate recruitment website. You will soon be able to quickly and easily access this information from within YourJobList.com. Currently we don’t expose the URL for an employers graduate job page, just the main recruitment page.

Aon

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AXA

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Bank of America

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Bank of New York Mellon

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BlackRock

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BNP Paribas

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Citi

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Commerzbank

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Credit Suisse

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Deutsche Bank

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Excelian

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Fidelty International

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Goldman Sachs

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Henderson

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Houlihan Lokey

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HSBC

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ICAP

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ING

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Investec

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J.P. Morgan

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M&G Investments

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Macquarie

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Man Group Plc

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Mitsubishi UFJ Securities International

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Morgan Stanley

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Nomura

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Royal Bank of Scotland

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Santander

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Schroders

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Societe Generale

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Standard Chartered Bank

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Susquehanna International Group

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TD Securities

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Trafigura

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UBS

Go to site >>

 

See the full post over at HereIsTheCity.