BANK LENDS ITS FLATS TO GRADUATES AS SHOCKING NEW STATS REVEAL TRUE COST OF JOB HUNTING
Graduates hoping to attend a job interview in London, Manchester or Birmingham in November have been offered free city centre accommodation, thanks to Barclays. A spokesperson for the bank described the average expenses bill faced by today’s graduate job-seekers as “shocking”.
The bank’s generous offer comes as new research (also by Barclays) reveals that UK graduates spend an average of £505.55 attending interviews before securing a full-time job, with 43% being unable to attending interviews due to the cost. Almost a third will have to use their overdraft or credit card to fund their expenses, while 42% have to ask friends and family for assistance. The study also discovered:
– The average graduate attends 3.3 interviews before being given a firm full-time job offer
– 25% of graduates attend five or more interviews before securing a job offer
– Graduates spend an average of £58 per interview buying appropriate clothing, and £52 on travel and accommodation
To support young job seekers interviewing for roles in cities far from their current home, Barclays is offering graduate interviewees the chance to apply for up to two nights’ free accommodation, for the month of November. City centre apartments will be available for free to graduates interviewing in London, Birmingham and Manchester, from 30th October — 29th November 2017. Booking is open from 09:00 on 23rd October — 24th November 2017, or until the tickets run out.
BETTER THAN A GROTTY HOSTEL: Graduates who take up Barclays’ offer can prepare for their interview in a peace
Sue Hayes, Managing Director of Personal Banking at Barclays commented:
“It’s shocking to see the true cost of landing that first job out of university. Graduates already face a challenging job market on top of record levels of student debt, so it’s disheartening to see how many of them are struggling to cover the costs of even attending an interview.
“We hope that by offering free accommodation in some of the most popular cities for graduate jobs, we’ll go some way to helping those who would otherwise struggle. We also offer a range of additional benefits for graduates who bank with us including the added security of a £3,000 fee-free overdraft in the first year, as well cashback on over 150 retailers across the country.”
The three apartments are available from 30 October to 29 November 2017, and will be booked on a first-come, first-served basis. To check availability and find out more click here.
* HOW MUCH HAVE YOU SPENT ON YOUR JOB HUNT SO FAR?
What have been the biggest expenses – clothing, travel or accommodation? Should employers contribute more towards graduates’ costs? And have you ever dropped out of the recruitment process because you couldn’t afford the costs associated with going to the interview? Share your stories and views below…
Perhaps the key skill that candidates should acquire is, in the event that an interview is offered, that the candidate secure confirmation from the employer that all interview expenses will be covered.
After all, employers have a budget for HR, if candidates are expected to travel x hours to/from the interview, which could occupy a single day, as a minimal requirement the employer should be expected to cover all expenses.
The opposite proposition is to suggest that the candidate is not prepared to make a charitable or philanthropic donation to the operational expenses of the company.
Otherwise….it is best to avoid such companies.
It has also been known for agencies, in arranging interview, to suggest that the employer will not reimburse expenses. However, a carefully worded email to the employer will confirm that agencies are likely to lie over such a fact- employers provide HR with a generous expense budget to cover interviews.
The bottom line is that, aprior to any Contract of Employment being offered, any interview expense fall within the remit and responsibility of the employer.