Students expect to work for less than minimum wage for a YEAR after graduating
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A recent study by student insurance provider Endsleigh has found that UK students anticipate working for less than minimum wage a year after leaving education, expecting far less than their parents’ generation. According to Endsleigh, more than one in seven students in the UK leave university expecting to earn less than the national minimum wage (£6.95 per hour for 21-24 year olds) for a year after they graduate. The survey is based on the views of over 1,800 students in the UK, of whom a large majority (76%) expect to be earning less than the national average salary (£26,500) the year after their graduation. Only 2% of students expect to have a salary of over £30,000 in their first year after graduating, though a higher percentage of the students surveyed (3%) expect to be earning nothing at all. As well as having low expectations about their future wages, many students have also been forced to become more pragmatic in terms of how much their career and degree will overlap. Two thirds of students in the survey stated that they wanted to secure a job suitable to their degree, yet only 30% actually expect to be working full-time in their chosen career a year after they graduate. In response to their low expectations, more than one in five students are now willing to compromise on their choice of industry in order to secure a job. This uncertainty and disillusionment many students and graduates feel is understandable, due to rising tuition fees and the added pressure of having to repay lofty student loans. Taking all this into account, it’s no wonder that so many students feel they have to be more realistic and take a more flexible approach to the world of work they are entering into.
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