For the thousands of Western Australian university students who have just completed their final exams, there’s no need to look far for work – job prospects in this state are among the best in the nation.
For the thousands of Western Australian university students who have just completed their final exams, there’s no need to look far for work – job prospects in this state are among the best in the nation.
This year’s graduates can expect a median starting salary of $46,500 in WA, second only to New South Wales, and will have 14.3 per cent more vacancies available to them than their predecessors, according to recent research from the Australian Association of Graduate Employers.
Graduate starting salaries in WA have increased by 5.9 per cent since last year; a rise equal to Victoria’s as the largest in the nation.
Mining companies will pay the most for their graduates, with a median starting salary of $55,000, equal to investment banks and energy, water or utility firms.
Graduate mining engineers command a median starting salary of $60,000, an increase of 12.1 per cent on the previous year, while the largest increase overall was for graduates at engineering or industrial companies, where starting salaries increased by 16.3 per cent.
WorleyParsons graduate officer Rebecca Richards said that, although the starting salary for graduates at the company had increased, it was not to the same degree as at other engineering companies.
“We have increased, but we’re not the top end of the market,” she said.
One of WorleyParsons’ key performance indicators is an increase in its graduate intake by 20 per cent each year.
“For next year, it’s looking like we’ll have to get out to market and recruit more than that,” Ms Richards told WA Business News.
And while salary was important to graduates, she said, the development program offered at WorleyParsons was an important incentive in attracting graduates, with the three-year program including technical courses, mentoring, non-technical professional formation and the opportunity for rotations interstate and overseas.
“Most of our graduates join us because of the program we run, the graduate development program,” Ms Richards said.
Pre-graduate recruitment schemes were generally popular with employers, with vacation schemes more widely used than cadetships or co-op schemes.
Accounting or professional services firms had the highest proportion of total vacancies in vacation schemes (43.3 per cent), more than double the share of law firms (15.4 per cent) and mining companies (13.6 per cent) combined.
WA ranked third behind NSW and Victoria in terms of total vacancies in vacation schemes, with more than one fifth of vacancies nationally.
With strong competition for graduates, additional benefits are becoming an increasingly relevant part of incentive packages.
Those looking to acquire further skills are well catered for, with most organisations offering study leave or sponsorship to their graduates (68 per cent) and training for professional qualification (65 per cent).
About a quarter of graduates also receive subsidised sports and leisure facilities, paid overtime and a laptop.
Other benefits available include relocation and salary packaging, share options or schemes, free or subsidised mobile phone and global induction or international travel.
Ernst & Young recruitment consultant Shona Goh said the company was working to be more market aware of areas of particular interest to graduates, with an emphasis on investment in areas such as learning and development.
“There’s so much more competition for fewer good candidates, which really means we’ve got to make ourselves look more attractive,” she said.
“We find graduates are particularly interested in learning about a mapped out career plan.
“They are also particularly interested in travel opportunities, whether domestic or international.”
Ms Goh said the current global shortage of accountants and prosperous state economy, as well as a high proportion of mining, oil and gas clients, had created a candidate’s market.
“We’re looking into more methods of promotion and…graduates of a number of different disciplines. For us, certainly, commerce and accounting are number one, but we’re also interested in students who have studied science, engineering and law.”
While many employers provide further study opportunities for graduates as part of their overall package, post-graduate qualifications appear to be of minimal importance when it comes to delivering bonuses on top of starting salaries.
Only 15 per cent of organisations surveyed paid a premium for additional qualifications.
Of those that do pay, graduates with honours, diploma, masters or double degrees or relevant work experience can expect a median premium of $2,000 or less.
Only 11 employers surveyed paid a premium for a PhD, with the median bonus $4,800.
The AAGE 2007 survey received responses from 180 of its graduate employer members.
