How important is salary and benefits to fresh graduates when accepting their first job offer - Case Study Example

People with a normal degree and master degrees are normally included in the graduates list. Upcoming generation is keen in improving their living standards as much as possible. For many of the upcoming graduates, the major aim of education is for getting a decent job or profession. The life expenses are increasing day by day and only the educated people are getting good salaries and profession. In the case of U.K., graduates struggle a lot in finding decent jobs at present because of the unhealthy economic growth.

It should be noted that UK is one country which suffered a lot as a result of the recent recession problems. Even though many of the recession hit economies including America shows signs of a revival, UK’s economic growth is still inadequate considering the economic growth in some other countries like India and China. Inman (2009) mentioned that ‘the unemployment in UK may cross more than 3 million in near future itself as Britains manufacturers, retailers and service industries feel the full effects of the downturn”.

Thousands of employees working in UK’s private and public sectors have either lost their jobs or faced salary cuts in recent times because of the recession problems. For example, Tesco, one of the biggest retailers in UK, have planned to terminate the employment of 5000 of its workers. Many other retailers also followed the path of Tesco. “The retail sector recruited around 236000 employees between the years 1999 and 2003; and retail employment had reached a little over 3 million by the summer of 2003.

However, between 2004 and 2007, they started exhibiting negative results, with stagnant employment of three million employees, till 2008” (Macneil & O’Brien, 2010, p. 88). From the above statistics, it is evident that the graduates in UK are currently struggling a lot in finding a decent job. It is very much important for the fresh graduates to get a decent salary and benefits when they