The latest survey from Incomes Data Research shows very little change in the median starting salary for new graduates at £27,475. This year’s median is marginally lower than last year’s figure of £28,000 and that in 2018 of £27,654, indicating a subdued market for traditional graduates. The survey also shows fewer graduates being taken on this year and far fewer employers opting to raise the entry salary for graduates – just 23% report raising the graduate starting salary in 2020.
Meanwhile degree apprenticeships continue to gain popularity and here the median starting salary has risen by 5% to £18,800 this year. The survey also looked at pay and progression for other levels of apprenticeship and shows the median salary for those as ‘intermediate’ level is £14,000, at ‘advanced’ level is £13,158, and at ‘higher’ level is £17,821.
Starting salaries for higher level apprenticeships have also experienced above-inflation growth at 4%, while the median starting salary for those starting the lowest level of apprenticeship has increased by 8% partly driven by increases to statutory minimum wages, since these have more of an influence on pay setting at this level.
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