Thursday, March 06 12:20:29
Average salaries for new graduates increased by 11.8pc from 2004 to 2007 but decreased by 11.7pc from 2007 to 2012, according to new research from the Central Bank.
The research paper, called 'On the Slide? Salary Scales for New Graduates 2004-2012' is based on data from the Higher Education Authority and examines trends in starting salaries for new graduate labour market entrants before, during and after the economic downturn.
It found that the decline in graduate salaries during the recession has not been uniform across faculties.
Architecture and Arts, Humanities and Social Science, suffered above average reductions in starting salaries during the recession.
Graduates in employment overseas increased from 4pc in 2007 to 10pc in 2012.
With recent employment gains concentrated among third level graduates, the decline in graduate salaries is likely exerting some downward pressure on aggregate wages in the economy.