13th EDHEC Young Grads Job Survey

The quarterly EDHEC Young Grads Job Survey measures the intention to hire and the actual hiring trends of a panel of firms from a range of sectors and management professions. It provides students and young grads with useful information on job market changes and trends, as well as employers. It is compiled under the direction of Manuelle Malot, Careers and Prospects Director at EDHEC Business School.  

The start of this year has seen businesses appear more cautious than ever: intention to hire young grads is at its lowest level since we first launched the EDHEC Young Grads Survey four years ago in January 2009: only 56% of firms in our panel said they intended to hire a young Master grad in the next 3 months, a drop of 11 points compared to January 2012.

•    An expected drop in real hiring and job prospects
In addition, there was also a drop in real hiring figures, which fell from 71% to 64%, although it remains in line with the cautious forecast made by firms in the autumn. We also noted that 79% of businesses who hired in 2012 intend to continue taking on new staff in the first quarter of 2013. In addition, firms are even more cautious than in the last quarter of 2012 with regard to the number of new staff they plan to take on: 14% of firms expect to increase their staff numbers against 22% in the last Survey, and 20% of them forecast a decline in numbers.  
 
•     France remains attractive but Asia and America are increasingly attractive for employers
82% of organisations that intend to hire will continue to do so in France. In global terms, they indicated a drop in intention to hire new staff elsewhere in Europe and an increase in Asia and America, regions that are back to their 2011 level. In terms the type of job, marketing and jobs in the banking sector lost 4 points compared to the last survey, and consulting has an even gloomier outlook than in January 2012.  As always in these uncertain times, sales and management control are the most resistant.  
 
•    Always the same reason: the economic climate and low growth in Europe…
Weak economic growth and restructuring in Europe is hardly conducive to risk taking. No doubt the negotiations to create a more flexible job market in France are also partly responsible for this caution, while at the same time job indicators in the USA are on the rise.  To conclude however, we should remember that despite the caution seen in the EDHEC Job Surveys in January 2010 and January 2011, the last two years were in fact relatively positive for young Master grads.

•    …which has not stopped firms from investing more in higher education
Subjected to ever shorter economic cycles, employers need to be increasingly on the ball; firms have organised pools of candidates who can be mobilised in just a few weeks if and when needed. That’s probably why, far from weakening, firms have never invested so much in higher education: 96% of firms intend to pursue their relations with higher education institutions.
 
Written by AURORE DENYS