23 applications per place for PWC's A level scheme. 82 applications per job in investment banking. Which would you rather go for?

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Waiting for graduate job

Waiting for a graduate job (Photo credit: Anirudh Koul)

There are, unfortunately, no easy options nowadays (were there ever?).

If you don't want to compete to get into university and then to compete again to get into a graduate job after spending £9k a year on fees, you will still have to fight tooth and nail for the alternatives.

PWC revealed today that applications for its post-A level entry programme have increased 468% in the past 5 years and 34% in the last 12 months alone. There are now 23 applications for every place.

This may sound off-putting, but as PWC points out, there are reportedly 20,000 UK graduates still looking for work six months after graduating. Meanwhile, according to graduate research company High Fliers, there are now 81.6 applications for every job in investment banking and 121 for every job in finance generally.

Regardless of what happens to banks' own recruitment plans, the situation has the potential to worsen for British students in future. The Telegraph reported a few weeks ago that students from the European Union are flocking to the UK due to the perceived strength of its economy and their perception that they'll find it easier to get a job here. Faced with a choice between mono-lingual British students and multi-lingual European students, it's fairly obvious who banks will go for.

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