65 students chasing each training contract vacancy

The number of applications received per training contract vacancy jumped by a whopping 87 per cent between 2009-10 and 2010-11, according to the latest survey published by the Association of Graduate Recruiters (AGR).

The AGR’s Summer 2011 survey, published today (28 June), revealed a staggering 65.5 applications per training contract vacancy compared to 35 last year.

This figure, however, remains lower than those for investment banks or fund managers, which revealed a jump from 84 applications per vacancy to 232.5.

Meanwhile, the AGR has also upgraded its forecast for vacancies at law firms claiming that they rose by 14.6 per cent between 2009-10 and 2010-11. This follows a prediction by the organisation that training contract positions would drop by 11.8 per cent in 2009-10.

Job applications across all sectors have jumped to an average of 83 per vacancy, while vacancies are expected to grow by three per cent.

Despite the highest median starting salary boosting from £36,600 last year to £37,000, the research anticipates that no further change in salary will occur this year.

Investment banks and fund managers sit in second place for another year running revealing a median salary of £36,500 compared to £35,000 last year. The median starting salary across all sectors has increased to £25,500, up from the 2008 and 2009 figure of £25,000.