Words by Daniel Mitchell
Landing a graduate role can be tough – but for those blessed with luck, landing their dream job can also mean some serious cash.
Let’s face it, the job market isn’t exactly booming. With the global pandemic and all, securing a role as a recent or not so recent graduate has become doubly hard, especially when you’re after one of the highest-paid graduate jobs. If you’re looking to step into the working world, how much you’re paid is always an important factor.
To save you from doing the research, we detail the seven highest-paid graduate jobs:
1. Investment Banking & Finance
For time immemorial, investment bankers and those in finance have long held the fascination of the general public. In movies, they reign supreme (who wouldn’t want to be Thomas Crown?), earning them a permanent spot in entertainment and culture. And whilst we’ve all been asked a “penny for your thoughts” – very few command big bucks for theirs. As a graduate investment banker or analyst in one of the world’s top finance firms, you can expect starting salaries as high as £65,000, making it the most lucrative industry for budding graduates.
For all the Patrick Batemen-esque (without the killing, obviously) perks – well-polished offices, endless dinners, and a jet-setting lifestyle – you can expect to work hard for your money. Banking and finance are notorious for long, arduous hours. And whilst it may not be 100% realistic, we have it on good authority that Industry, the HBO drama about graduates in banking, does a good job of depicting life in the sector.
To break into the industry, prepare to put in a shift. Endless networking events and applications are the norm, with a high number of students looking to break into the industry.
2. Corporate Law
Ask most wannabe lawyers “why law?”, and they’re likely to cite the chance to work in “intellectually stimulating” and “fast-paced” environments as reasons for their interest in the field. That may be true – but it probably also had something to do with a few episodes of Suits, where the world of corporate law consists of expensive suits, fancy handbags and endless (seriously, endless) one-liners and movie references. It probably had something to do with the money, too – and there’s a lot of it.
Like investment banking and finance, corporate law can be a lucrative career, with some of the world’s biggest firms paying as much as £60,000 for first-year trainees. After two years, trainees at elite firms can expect as much as £160,000. For the big bucks, expect to work extremely hard. Long hours are the norm, and most tasks will probably be challenging.
On the bright side, you’ll probably have access to fancy gyms, elaborate perks – and for those at a certain Magic Circle firm, a swimming pool.
If you’re looking to break into the legal sector, Legal Cheek is a very handy resource.
3. Tech
Right now, few industries are more red hot sexy than tech. Whilst very few actually know what they do – just that they’re paid pretty well – it’s an industry well placed to attract top graduate talent. You’re allowed to wear a t-shirt, lunchtime table tennis seems to be the norm, and bean bags are preferred to the standard (and boring) office desk setups – making it less stuffy and formal than banking and law.
That, in addition to working on projects and tech gadgets we may all be using in the near future, makes tech an increasingly obvious choice for those with an eye for problem-solving – and those keen on achieving some sort of work-life balance.
From Facebook to Microsoft, Apple to Spotify, tech firms are on the hunt for top talent, and they’re more than prepared to pay big bucks for it. Graduate software engineers and data scientists at some Silicon Valley firms can expect to earn anywhere between £40,000 – £55,000 – making it one of the highest-paid graduate jobs.
4. Oil & Energy
Oil and energy firms have long had a reputation for lucrative graduate roles. With opportunities aplenty, graduates from most degree disciplines can bid for a chance to work for one of the world’s big energy firms. A career in oil and energy could see you thrive as a geochemist, a hydrographic surveyor or at the top end of the scale – a graduate petroleum engineer.
With a move to greener and eco-friendly sources of energy, grads can expect to enter an industry fraught with change and innovation. Plus, with an average starting salary of around £40,000, you’ll be on your way to one of those brand new Teslas in no time (*not financial advice*).
5. Accounting & Consulting
Accounting and consultancy firms are everywhere. Global in nature and reach, they require top talent; talent that can advise and work on some pretty big projects. With good job prospects, a stable and well-respected career, and a high starting salary, accounting and consulting industries continue to do well with graduates.
For the whizz-kids and problem-solvers amongst us, a career in accounting or consulting is a pretty safe bet. With an average salary of £35,000, you can expect to earn a lot for your talents.
6. Retail
For top talent, retail giants are more than willing to step into the ring. To win over corporate-hungry whizz kids, they’re willing to pay big bucks: starting salaries average at around £34,000. Want more? How about a brand new car for your troubles? That, along with some pretty decent perks – travelling, health and lifestyle benefits, the promise of a “good work-life balance – make retail a pretty decent place to land your first job.
For those eager to progress – it takes 12 months of training to become an area manager – you’ll have plenty of opportunities to climb the ladder.
7. Media & Marketing
Creative industries are often dismissed (in comparison to corporate ones) for having “very little” or “no money in it.” But for artistically inclined, certain media and marketing jobs can lead to big paychecks. To rake in big bucks as a graduate, you’re best placed going after the big names. With opportunities to travel, work on projects and run into the occasional famous name, media and marketing continue to garner the attention of students looking to make their mark.
For those fresh from binge-watching Emily in Paris, a word of caution: your job will probably be less Emily at Savoir, and more Emily needs to get the job done because clients don’t pay for five-hour lunch breaks.