A return to (almost) the norm for young business and engineering graduates. According to the latest annual survey* by the Conférence des grandes écoles (CGE), released this Wednesday, June 15, the net employment rate** of 2021 graduates is 89.8%, less than six months after graduation. Recall that due to the crisis, this figure was 79.1% only for the class of 2020. Thus, net employment exceeds the pre-crisis level (88.1% for the class of 2019).
This very good momentum can be explained by the special context in the labor market associated with the economic recovery. Indeed, for many occupations, employers face significant challenges in recruiting enough talent to meet their needs. Thus, the current situation is favorable for young people entering the labor market. It remains to be seen if it lasts.
Resumption of wage increases
In addition to employment opportunities, the current context is also promising in terms of wages. Indeed, this year the average remuneration received by young graduates of major French institutions less than six months after graduation is returning to the “growth trend seen since 2016 to the bottom of 2021 (-0.7%, approx.) ”, indicates CGE in its report. Thus, during the year, the average gross annual salary of all young graduates increased by 3.1% and amounted to 36,551 euros.
To give you an even better idea of the salary you can earn upon graduation, CGE has increased the salaries received by young engineering and business school graduates from the 2021 graduation. And this, in the main areas of activity that hire them.
As for new graduates of technical universities, almost half of them (47.3%) are employed in two sectors: consulting and engineering, as well as information and communication technology services. In these areas, the average salary of young employees of technical universities is 35,434 euros and 37,257 gross euros per year, respectively. But unsurprisingly, the financial and insurance sector pays the best, with an average salary of €42,868 gross per annum earned by engineering profiles.
>> Find in the table below the wages received by graduates of technical universities in the main areas of activity
Among employees who recently graduated from business school, we observe wages, as a rule, higher than those of engineers. But again, the finance and insurance sector offers the best salary (on average 45,388 euros gross per year). As for young engineering graduates, it is consulting or engineering companies and independent design firms, as well as information and communication technology services, that attract more young people who have graduated from business schools to work. At the same time, again, salaries are on average much higher than those of engineers.
>> Find in the table below the salaries received by business school graduates in the main fields of activity
The only drawback: Grandes Ecoles do not allow you to correct the gender pay gap. With few exceptions, the average salary of women who graduate from higher education is usually lower than that of men in the above sectors. It must be said that more than one in six graduates of 2021 (17.2%) currently earns less than 30,000 gross euros per year. This is half that of men (8.7%). At the other end of the scale, only 13.5% of tertiary school graduates earn more than 42,000 gross euros per year, compared to 18.8% of men. “Our schools have an obligation to act more in terms of gender equality,” says Nicolas Glady, President of the CGE Commission on Downstream Logistics and Director of Télécom Paris.
* The survey was conducted between December 2021 and March 2022 among young graduates from 194 CGE member schools. For example, AgroParisTech, Audencia Business School, Ecole des Ponts ParisTech, EM Normandie and EM Strasbourg, Grenoble School of Management, HEC Paris, Polytechnique, Sciences Po and others took part.
** Net employment rate = (young graduates working + volunteering) / (young graduates working + volunteering + job seekers).
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