As the world gradually embraces technology in the rise of the new century, education has also advanced enormously. Today, many people, both the young and the old, are rushing to higher institutions of learning to attain tertiary education. It has been popular to travel abroad to receive the best education, knowledge, expertise, and skills in different fields of interests. However, the challenges have also increased in the same measure. There has been stiff competition between local and international graduates in the job market. It is imperative to realize that even at the graduates' level some fields present a secure employment option as compared to others. In addition, some graduates from abroad seem to have the highest advantage over local graduates, the same are also having trouble in fitting into the local setup within their home job markets.
The graduate job market today is one of the most competitive markets known in the history of employment. Nowadays, graduates have to struggle for the opportunity unlike in the past where they were easily absorbed in the system. In the 21st century the demand for professionals has increased as technology gradually influences the requirement for high standard of expertise. On the other hand, graduates have had to surrender in order to catch up with the high international graduate market. However, much more competition is expected as innovation and technology is its highest state. In this perspective, it is crucial to research and understand the current graduate job market.
Analysis of the Current Graduate Labour Market Both General and Specific
Analysis of the graduate labour market
It is critical to comprehend the fact that the graduate job market has different segments. Each segment is primarily made of its own characters that are founded from skill and technology. Often, the differences come in due to the demand based on what employers are looking for in the market. However, the bottom line remains that different sectors in the graduate job market grow at varying rates. While some are hardly moving, a considerable number of them are competitive. Nonetheless, it is becoming clearer that employers are looking forward to better futures of graduate recruitment to develop their business strategies contrary to the past. It is worth noting that graduate employment is taking a significant shift from professional employment in associate employment and other technical jobs (Trooboff, Vande Berg & Rayman 2004, p. 18).
In the UK, the following are the key employment sectors recognized in the graduate job market. They include energy and utilities, retail, law, investment banking, IT and telecommunications, engineering and manufacturing, fast foods and consumer goods, banking and financial services, accountancy and financial services, construction, transport, and logistics. Amongst the above-mentioned sectors, banking, finance, and accountancy dominate in the job market. With slow growth in some employment sectors, graduate salaries in the United Kingdom rate at ?24, 000 annually. Although employment is not all over the States in the UK, much is expected especially in the major cities such as London. Some specific examples of graduate jobs in high demand in the UK include construction, business services, IT and Telecommunication, public sector, and retail. These have an increasing rate of more than 30 percent.
Analysis of employability of graduates who studied abroad versus those who did not
There is stiff competition between these two groups of graduates. However, truth be told, that graduates from abroad have a higher chance of getting the best employment opportunities in the market as compared to those from local universities. According to Press Release Database from the UK, a majority of employers to more than 30% would prefer to recruit graduates from abroad. As compared to local graduate, overseas graduates have a higher opportunity in terms of employability. However, this is due to the misconception that local graduates do not have adequate and appropriate skills in this day and age. However, it is evident that the concepts taught overseas are comparable to those of the local universities and colleges.
Robertson (2008) notes that the demand for international graduates is on the rise as opposed to local graduates. In the same perspective, he highlights that more students are enrolling in international course as compared to local higher learning institutions. According to Robertson (2008, p.8), ";Study or work abroad brings positive benefits both personally and professionally" to students and employers too. Akanmu (2011) supports this claim as he highlights the extent by which Nigerian graduates have lost many employment opportunities, which are taken by oversea graduates.
Types of Positions/Jobs Graduates Who Studied Abroad Are More Likely to Secure
A retrospective study done by Teichler and Janson (2007) revealed that up to 54% of abroad graduates secured their first job because of their oversea certificates and experiences. According to Eurograduate (2013), the fields which present the best opportunities for overseas graduates in the European job market include engineering, finance, ethical working, automotive industry, technology, and universities. However, it is worth noting that some jobs flourish in one country and fail to survive in others. Hence, it is critical for one to note where a certain field guarantees employment. For instance, conflicting information by Collinson & Austin (2012, pp. 1-3) discusses a situation where obtaining employment as a graduate in the UK is challenging except for hospitality and entry level jobs. Other fields in demand include science, maths, and medicine. However, more difficulty is experienced in recruiting in these fields due to numerous reasons related to practicing (Paton 2012, p. 9).
Although it may sound selfish, it is significant to notice that employers are looking for a source of excellence and performance from their employees (Fielden, Middlehurst & Woodfield 2007). The past has shed a lot of sad news especially with graduates from local universities failing to be competent in their area of work. On the contrary, oversea graduates have long broken grounds with exceptional skills and expertise not to mention the outstanding experience from highly recognized institutions. In addition, it has become a trend that today many employers are seeking to find skills, such as effective communication, character, integrity, team skills, critical thinking, interpersonal skills, organizational skills, personal ethics, self-discipline, technical skills, problem solving skills, and self-esteem.
Apart from the endless list of skills, expertise is a fundamental aspect that employers are seeking for while recruiting. It is acommonly known fact that companies usually seek for personnel with certain expertise to develop business. Unfortunately, local universities are quick to produce graduates in a limited number of fields. Yet, the business world today seeks to find exceptional and more dynamic graduates that can perform way beyond the primary foundation of work (Orahood, Woolf & Kruze 2004, p. 134).
The Extent by Which Studying Abroad Increases Graduates' Likelihood of Working in a Foreign Country
Studying abroad has been marked as one of the fanciest experiences that students have in their lives. In the past, it was considered more of a privilege as education-based trips were rather uncommon. However, today there are more chances and opportunities with numerous scholarships that people of different age can take advantage of and travel across the globe. In the same regard, many have come back with better recognition as compared to those who have been left to study in the local higher learning institutions. Consequently, it is clear and evident that oversea graduates have numerous advantages over local graduates in terms of obtaining employment (Doorbar 2003).
Experience is one of the most exceptional aspects that oversea graduates attain by default while studying abroad. In the foreign countries, especially in the progressive nations, students are given opportunities to interact with other well-developed companies and businesses. In such institutions, they have an opportunity to communicate with successful people in their respective industries. It is in such instances that the learners grow remarkably well to greater heights of their professions. When they come back to their home countries, they get the best chances and jobs as employers seek and anticipate for the best from the job market. As a result, only the oversea graduates get to be absorbed fast into employment.
While studying in a foreign country, one usually gains profound expertise and skills in their field. In the developed countries such as European ones and the United States, students are exposed to highly professional tutors, lecturers, and professors who may have the best experiences in the various fields. Furthermore, students get the advantage of having the best instructors. Subsequently, they obtain the best knowledge and first-hand information which the world is anticipating in this century (Matherly 2005, p. 6). Such group thus is of great significance to the companies in their home countries as employers seek for innovation and development of business with relevance to the current market. In this context, they have the prime opportunity, which gives them advantage over other graduates who may only have basic knowledge.
Employment-Related Disadvantages Faced by Graduates Who Studied Abroad
One of the most widespread problems faced by oversea graduates is their inability to absorb the current business environment. In many instances, a student who has graduated from abroad will have to take time to learn and embrace the business trends and tradition within the home system as they are always different. As a result, most of them may find it difficult to engage in various setups. In the same perspective, there is a high chance of failing to apply the knowledge gained in the developing countries, partly due to poor infrastructure amongst other issues.
Financial compensation is another factor that stops graduates from abroad from entering the local job market. It has become a usual trend that graduate's compensation is limited to a given amount. This means that all graduates, whether from abroad or local universities, have the same payment. This is demoralizing because many are left to seek for better compensation packages from other sources such as neighbouring countries where their knowledge is appreciated. In the same aspect, students from abroad are kept in the same position as those of the local universities despite the fact that they have more exposure, experience, and better skills as compared to the local university graduates.
The demand for employment for oversea graduates versus that of local universities is constantly growing. This competition has thus resulted in employers attracting the best package for the benefit of their own business. As noted in the European market, many employers prefer overseas graduates to the local ones due to such factors as expertise, experience, and skills. Hence, it is a growing alarm to current students to obtain the best education and knowledge in order to gain a higher competitive advantage. Despite the advantage of having the best from commendable institutions in developed countries, many people still move out to find jobs in faraway countries because in one way or another oversea graduates do not fit into the local setup.
One major recommendation goes to all students pursuing higher learning degrees. It is crucial to ensure that one obtains the best expertise to have higher chances for employment. However, it is paramount to note the fields and courses which are currently important in the market in order for one to secure a commendable job once they graduate from a college or university abroad. On the other hand, employers should choose the best specialists even amongst local graduates.