Graduates offered perks of £11,000

Leading graduates are earning "golden hellos" of up to £11,000 a year in their first jobs despite a slump in vacancies.

A survey published today shows that starting salaries as high as £37,000 can be pushed up by such perks to nearly £50,000, which is twice the national average.

One in four firms is planning to offer some form of payment for joining to keep the brightest graduates away from its rivals, according to the survey by the Association of Graduate Recruiters (AGR). This payment is in addition to perks such as a company car and help with housing costs.

However, those with lower degree passes may find it harder to get a job because, generally, vacancies are expected to fall by 6.5 per cent this year. The survey of more than 200 leading firms shows 39 per cent plan to cut back on the number of new graduates they take this year, while 29.5 per cent expect to keep it the same and one in three plans to increase it.

The growth in prospects for new graduates is highest in the energy and water sectors, with the sharpest fall in information technology, software and telecommunications.

Carl Gilleard, chief executive of the AGR, said: "The war for talent is keeping starting salaries on an upward path. But the market is not buoyant in all sections. Some graduates, particularly those in IT, software and telecoms, will face stiffer competition than others.''

The survey shows starting salaries ranging from £11,000 a year to £37,000. The highest pay will go to those entering the legal profession.