Graduates are increasingly recognising the benefits of living and working outside of the city of London.
With living costs continuing to rise against salaries in the capital, it’s no surprise that many graduates are grabbing regional opportunities with both hands.
Some of the UK’s biggest graduate recruiters have noted a recent shift in regional hiring, as an increasing number of graduates are seeking employment outside the capital.
Consulting giant Accenture has seen an increase in regional intakes from 6% in 2016 to 11% in 2017. Similarly, accountant giant EY claims the proportion of London placements has dropped from 61% in 2016 to 52% in 2017.
Boss of PwC, Kevin Ellis, welcomes the increased regional competition as a testament to young people really investigating the current working landscape. Mr Ellis says, “We’re seeing a growing interest in regional roles driven by greater awareness of the opportunities available, lifestyle considerations and the increased availability of technology, which is location agnostic.”
Likewise, Deloitte’s London roles “continue to be popular” alongside a rise in regional hires, according to head of student recruitment, Georgia Greer.
This trend certainly doesn’t mean graduates are falling out of love with the capital.
KPMG’s head of graduate recruitment, Linda Emery, says that ‘demand in London has remained at the same level as previous years, and our London placements are often the first to be filled’.
The increase in regional intakes is a welcome recognition of the abundance of opportunity supplied throughout the UK, as well as knowledge of the benefits of lower living costs and other factors.
Executive director of campaigns at business group London First, Naomi Smith, notes that, “Last year, 30, 000 more millennials left than came to London and housing costs are the driving factor”.
Original story from City A.M.’s front page, Friday 27th October 2017.