News Digest #16: graduate labour market slows, MBA Ranking 2022, Interest rates

Oct 20, 2022 | News, Sector & policy

Student recruitment and development

University grads have had a seven per cent pay cut from last year. This year, the typical (median) graduate salary is £30,921 right now – up 1.4 per cent from £30,500 last year, the Institute of Student Employers reports. But with inflation at 8.6 per cent, this is effectively over a seven per cent pay cut in terms of real wages.

Graduate labour market showing signs of downturn. A survey by the Institute of Student Employers finds grounds for optimism, despite real-terms salary cuts and hiring freezes.

What are employers looking for in current graduates,  and how much are they paying them? The Institute of Student Employers’ Stephen Isherwood unpacks the latest data.

Labour Market

Hong Kong leader, in policy address, says aims to lure more global talent. Hong Kong’s Chief Executive John Lee, in his inaugural annual policy address, said on Wednesday he wanted to bolster the city’s competitiveness and seek to attract more overseas talent, including graduates from top global universities.

Amazon keeps losing employees and it’s costing the company billions, leaked report suggests. Only one out of three new hires in 2021 stay with the company for 90 or more days, the documents allege.

Deloitte tops Big Four for racial diversity of US workforce. Accounting firms have put inclusion of women and people from minority groups at heart of recruitment drive.

Less elitism, more inclusion: the legal industry aims for change. Lawyers say the culture at some top firms is holding back efforts to make the profession more inclusive.

Education

Should the Atar be scrapped? Seven experts on the student ranking system. In a few months, thousands of young people will receive an Atar – the culmination of 13 years of schooling. But is the system fit for purpose?

Executive MBA Ranking 2022: rising in east Asia. Asian EMBAs take the podium places despite regional pandemic and political challenges.

To change our future, we should change how we teach history to children. We adults may not be able to unlearn the damaging stories we were told, but we can halt their march through the generations.

Economy and politics

BoE’s Broadbent: Interest rates may not rise as much as market expects. Bank of England deputy governor Ben Broadbent has said it ‘remains to be seen’ whether UK interest rates have to rise as much as the markets predict.

Markets rein in rate hike bets. The financial markets are dialling back their forecasts for November’s interest rate rise.

Liz Truss’s government on the brink after Suella Braverman’s parting shot. Prime minister at risk of mass exodus of ministers as home secretary forced to resign.

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