Graduates’ employment prospects continue to improve (national survey)
Short-term graduate employment rates have stabilized and median salaries are on the rise despite the impact of the COVID-19 pandemic, according to the latest national report on graduate outcomes.
The 2021 Graduate Outcome Survey (GOS) shows the employment rates of graduates four months after leaving college. The survey, the largest of its kind and carried out by 127,827 graduates, shows that after falling between 2019 and 2020, the employment levels of graduates have stabilized this year.
The employment rate of full-time graduates increased from 68.7 percent to 68.9 percent, while the overall employment rate for full-time and part-time jobs for recent graduates remained broadly unchanged. similar to last year with 84.8 percent of jobs (up from 85.1 percent in 2020).
Universities Australia chief executive Catriona Jackson said the survey results once again demonstrated the benefits of a graduate degree.
âWhile the impact of the COVID-19 pandemic is still being felt everywhere, a degree continues to give students an edge in an increasingly competitive job market,â Ms. Jackson said.
âThe survey also shows signs of an upturn in the graduate labor market. As immunization rates improve and exceed 80% in some places, and more states begin to open up, it is highly likely that the premium for graduates will rise further. “
âThe employment of graduates traditionally exceeds the trajectory of the national economy. Thus, a university education prepares you to succeed even in the most difficult economic environment.
“These data show that while the outlook for graduates after graduation is strong, it improves dramatically over time.”
âWithin three years of completing their studies, nearly nine in ten graduates have full-time jobs. “
The survey shows that the number of hours graduates have increased for full-time and part-time employees, as well as wages.
The median full-time undergraduate salary level increased slightly from $ 64,700 in 2020 to $ 65,000 in 2021. Female undergraduates continue to earn less than men in 2021, at $ 64,200 compared to 66 $ 800 respectively.
“The survey shows a widening gender pay gap of 3.9%, down from 2.5% in 2020. This remains an injustice that must be addressed,” said Ms. Jackson.
The report is available on the Quality Indicators for Learning and Teaching (QILT) website.