Report

Cities in UK – They should support economic growth to attract and retain a greater number of graduates, then it needs to

Attracting and retaining talent is increasingly critical for the success of city economies as the UK continues to specialise in ever more high-skilled, knowledge- intensive activities. And this is a big challenge for many of our cities. While the UK’s great universities are spread around the country, many graduates head straight for the bright lights of the capital after completing their studies.

London is not only more attractive to new graduates generally; it is especially attractive to high achievers. The capital accounts for around 19 per cent of all jobs. But six months after graduation, of the graduates who moved city, London employed 22 per cent of all working new graduates, and 38 per cent of those working new graduates with a rst or upper second class degree from a Russell Group university.
Yet there is more nuance to this picture than is generally understood. Cities outside London do retain graduates – but they do not retain most of the students that move to their city to study.

Almost half of new graduates are ‘bouncers’, moving to one city to study, then leaving for another city straight after graduation. In Manchester, for example, 67 per cent of the students who went to study in the city left upon graduation. In Birmingham this gure was 76 per cent. And in Southampton it was 86 per cent. It is these people that drive the migration ows to the capital.

Setting the ‘bouncer’ cohort to one side shows that the majority of cities still experience a graduate brain gain. This is for two reasons. First, they attract more graduates to their city – either graduates who came to study and remain in the city for work, or who move in after graduation for work – than they lose when local people leave the city to work elsewhere as graduates.

Second, universities, to a varying degree, play an important role in cities by ‘growing their own’ – educating students who grew up in the city and who then stay in the city after graduation to work.
The patterns of graduate migration appear to be primarily driven by a mix of short- and long-term job opportunities. The fact that there is no relationship between moving graduates and wages suggests that future career opportunities play an important role in in uencing where graduates move to and why.
From a policy perspective, if a city wants to attract and retain a greater number of graduates, then it needs to support economic growth, rather than rely on narrower policies specifically targeted at graduate attraction and retention. Cities should aim to support the creation of more jobs, and particularly high-skilled knowledge jobs. This would mean:

  • Boosting educational attainment to improve skills throughout the workforce,
  • Putting in place good economic fundamentals that underpin successful city economies – transport, housing and planning,
  • Helping to boost demand for high-skilled workers among businesses by concentrating on innovation, inward investment and enterprise policies,
  • Making the most of universities as part of a wider economic strategy.

capture-decran-2016-12-12-a-17-28-36 capture-decran-2016-12-12-a-17-28-51

Chosen excerpts by Job Market Monitor. Read the whole story at  The great British brain drain: where graduates move and why

Related Posts

International Students in London – £2.3 billion success story

New research from London First and PwC shows international students are a boon to the UK, bringing a net benefit of £2.3 billion to the UK economy from London universities alone. The report, London Calling: International students’ contribution to Britain’s economic growth, concludes that the capital’s higher education system is an export success story, with 92 … Continue reading 

Work life balance / London vs New York

The individual – who had lived in London – regarded Europeans as lazy while New Yorkers do things differently Continue reading 

Hong Kong / More Financial jobs than New York or London by 2016

CEBR, the London-based economics consultancy, recently forecast Hong Kong will have more financial services jobs than New York or London by 2016, with some 262,000 positions. The Institute of Chartered Accountants in England and Wales (ICAEW) also gives its endorsement, saying Hong Kong will be the world’s premier financial job center by 2017, with 275,000 … Continue reading 

Advertisements

Discussion

No comments yet.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

Jobs – Offres d’emploi – US & Canada (Eng. & Fr.)

The Most Popular Job Search Tools

Even More Objectives Statements to customize

Cover Letters – Tools, Tips and Free Cover Letter Templates for Microsoft Office

Follow Job Market Monitor on WordPress.com

Enter your email address to follow this blog and receive notifications of new posts by email.

Follow Job Market Monitor via Twitter

Categories

Archives

%d bloggers like this: