Tag: employment

Hiring activity weakens again

Royal Bank of Scotland November report on jobs

• Downturn in permanent staff hires accelerates

• Vacancy growth continues to soften

• Further sharp rise in starting pay

According to the latest Royal Bank of Scotland Report on Jobs survey, hiring activity fell across Scotland again in November amid greater economic uncertainty and strong cost pressures.

For the second month running, both permanent staff hires and temp billings fell, with the former recording the quickest reduction since June 2020. While staff availability continued to deteriorate, demand for labour expanded at a softer, but still strong rate.

The ongoing imbalance of labour demand and supply led to further rises in both starting salaries and short-temp pay.

Downturn in permanent placements gathers pace

For the second successive month, permanent placements fell across Scotland in November. The rate of reduction quickened from October to the fastest since the initial phase of the pandemic in June 2020 and was sharp overall. Increased market uncertainty and candidate shortages were blamed for the latest drop in permanent staff appointments.

Permanent placements also fell across the UK as a whole for the second month in a row, albeit at a softer pace than that seen in Scotland.

November data highlighted a fall in temp billings across Scotland for the second consecutive month. Adjusted for seasonality, the respective index pointed to a slower and modest pace of decrease. According to anecdotal evidence, concerns about the outlook weighed on labour market activity.

In contrast to the trend seen for Scotland, temp billings expanded modestly at the UK level.

Supply of permanent staff falls steeply in November

As has been the case since February 2021, the supply of permanent staff across Scotland contracted during November. Furthermore, the rate of deterioration was the most severe since May and among the fastest on record. Recruiters stated that a combination of labour and skill shortages, Brexit and economic uncertainty reduced the supply of candidates.

Notably, the downturn in permanent staff supply across Scotland outstripped the UK average for the eighth month in a row.

A twenty-first successive monthly fall in temporary candidates across Scotland was recorded during November. The rate of reduction accelerated on the month, and was the sharpest since June. The decline also exceeded that seen across the UK as a whole. Recruiters blamed the fall on a stronger preference for permanent roles, candidate shortages and economic uncertainty.

Upward pressure on starting salaries intensifies in November

Latest survey data signalled a further rise in salaries awarded to permanent new joiners in Scotland for the twenty-fourth successive month in November. The rate of pay inflation ticked up from October’s 16-month low, and was rapid overall. The latest rise in salaries was attributed to competition for labour amid staff and skill shortages.

For the second month running, Scotland noted a quicker rise in starting salaries than recorded at the UK level.

Average hourly wages increased further across Scotland in November, thereby stretching the current sequence of inflation to two years. The rate of pay growth accelerated from October’s 18-month low and was sharp overall. Scottish recruiters commonly noted that acute skill and candidate shortages continued to exert upward pressure on wages.

Further slowdown in growth of demand for permanent staff in November

November data pointed to another monthly increase in the number of permanent vacancies across Scotland, extending the current run of expansion that began in February 2021. That said, while growth remained strong, the rate of increase weakened to the second-slowest in the aforementioned sequence.

Across the monitored job categories, Nursing/Medical/Care reported the quickest rise in vacancies. Executive & Professional and Hotel & Catering reported reduced demand for permanent staff.

Recruiters across Scotland signalled a twenty-sixth successive monthly rise in temporary vacancies during November. However, the rate of expansion cooled since the previous month and was the softest seen since February 2021.

IT & Computing registered the quickest upturn in short-term vacancies, followed by Accounts & Financial.

Sebastian Burnside, Chief Economist at Royal Bank of Scotland, commented: “Following the post-pandemic hiring boom, the latest Report on Jobs survey indicates that recruitment activity lost further momentum in November amid a slowdown across the economy.

“Greater uncertainty around the outlook and candidate shortages have taken a toll on staff hiring across Scotland. Latest data indicated a notably steeper contraction in permanent placements, while temp billings fell for the second consecutive month.

“At the same time, labour scarcity resulted in strong growth in pay, with both starting salaries and hourly wages rising at sharper rates during November.

“The steeper drop in candidate availability across Scotland, which was often blamed on a generally low unemployment rate, fewer foreign workers, worries over the economic climate and cost of living crisis, is likely to add further upwards pressure on pay in the months ahead, particularly if firms want to attract and secure the skilled workers they need.”

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Scottish Government’s ‘National Mission’ to close attainment gap

Scotland’s councils set out ambitions to help young people succeed

Local authorities have published their plans for closing the poverty-related attainment gap.

Councils across Scotland have set their own “stretch aims” for children and young peoples’ progress in literacy and numeracy levels, for senior phase qualifications achieved, as well as for the number of young people participating in education, training, or employment.

For both overall attainment and in terms of closing the poverty-related attainment gap in literacy and numeracy, the collective stretch aims of local authorities demonstrate ambitions to work towards achieving the biggest two-year improvement recorded since the introduction of the Scottish Attainment Challenge.

This work will be supported by the Scottish Government’s £1 billion Scottish Attainment Challenge, with £43 million in Strategic Equity Funding allocated to local authorities this year. In total more than £130 million has been distributed to schools so far this year to help close the poverty-related attainment gap.

Cabinet Secretary for Education and Skills Shirley-Anne Somerville said: “We are committed to substantially eliminating the poverty-related attainment gap and councils have a crucial role in driving this national mission forward at a local level.

“Given the effect of COVID-19 on children and young peoples’ achievement of Curriculum for Excellence levels in 2020/21, these collective aims represent significant local ambition for recovery back to and beyond the national position pre-pandemic, aiming to narrow the poverty related attainment gap by over seven percentage points in both primary school literacy and numeracy compared to 2020/21.

“These will drive an enhanced focus on outcomes for children and young people, ensuring they have the opportunities and support they need to reach their full potential.”

Stepping Up: Minister visits Wester Hailes High School to learn about ENABLE’s vision for the future of young disabled people

Pupils at Wester Hailes High School welcomed Jamie Hepburn MSP, Minister for Further Education, Higher Education, Youth Employment and Training, to their classroom yesterday to showcase ENABLE Works’ Stepping Up programme.

The ground-breaking initiative, established in 2009 by ENABLE, Scotland’s largest charity for people with learning disabilities, supports young people who have a learning disability to build and explore their aspirations for the future, helping them to positively progress into employment, education and industry training upon leaving school.

Stepping Up currently has a 98% positive destination success rate for young people with learning disabilities – higher than current school leaver statistics across the country. The programme aims to tackle the underrepresentation of people with learning disabilities in the workplace through early intervention.

During his visit to Wester Hailes High School, Mr Hepburn heard directly from students who take part in Stepping Up about how the variety of interactive workshops and training activities have helped to increase their confidence and develop their employability skills and has allowed them the chance to realise their potential and consider their aspirations for the future.

Mr Hepburn was also able to get involved in an interview workshop, aimed at building employability skills, and had the chance to try ENABLE Works’ Virtual Reality (VR) headset, as the programme utilises the latest technologies to allow the young people involved to truly be able to envision their future. 

Jay, one of the Stepping Up students, explained what the programme has meant to him: “I have really enjoyed my time on Stepping Up so far, as I’ve learned a lot about college and work and had the chance to try new things such as the VR headset, while working alongside people in a similar position to me.

“As a pupil in fifth year, I’ve started thinking about what I’d like to do after school. Before Stepping Up I really wasn’t sure what was next for me, I didn’t know much about the world of work, and I wouldn’t have known how to write a CV or how to act in an interview. Thanks to the programme, I now understand how to do these things and I feel much more prepared.

“I’ve been discussing college courses and I’m feeling really excited about what options are out there for me. I’d love to study drama or film and I’m looking forward to visiting different colleges to learn more about the full-time options.”

Director of ENABLE Works, Ashley Ryan said: “Stepping Up is the only programme of its kind in Europe and now operates in over 75 schools across Scotland, making a real difference to the lives of thousands of young people.

“We were very pleased to have welcomed Mr Hepburn to Wester Hailes High School to see first-hand the impact the programme is having on disabled young people, to overcome any barriers that can prevent a positive transition from school into adulthood.

“Helping equip young people with learning disabilities with the confidence and skills they need to positively progress into employment or further education is invaluable, and we hope this early intervention will help to close the disability employment gap that exists in Scotland.”

Jamie Hepburn MSP, Minister for Further Education, Higher Education, Youth Employment and Training, said: “It has been inspiring to hear about the vital work that ENABLE does to connect disabled young people to fair work, education and productive activities designed to support a successful transition into adult life and work.

“The Scottish Government is committed to supporting organisations, such as ENABLE, to ensure that people with additional support needs are given a wealth of opportunities.

“I look forward to learning more about the progress of the Stepping Up programme.”

For more information on the Stepping Up programme please contact the ENABLE Works team on enable.works@enable.org.uk or 0300 0200 101.

Royal Bank of Scotland: Downturn deepens amid falling demand

  • Business Activity Index falls to 45.8 in October from 48.0 in September
  • Contraction in new orders quickens
  • Growth in employment further weakens

The contraction across Scotland’s private sector firms deepened during October, according to the latest Royal Bank of Scotland PMI® data. Adjusted for seasonality, the Business Activity Index posted below the neutral 50.0 threshold for the third month running, at 45.8, indicating a sharp decrease overall.

Inflows of new business also went into further decline, the latest downturn being the most severe in 20 months. To further add weakness across the sector, inflationary pressures reaccelerated from September’s recent low, as service providers reported quicker upturns in input costs and charges during October.

The gloomy performance resulted to the softest intake of workers in 18 months, with goods producers reporting their first reduction in employment since January 2021.

New business received at Scottish private sector firms fell sharply during October. The rate of decrease quickened from September to the fastest in the current fourth-month sequence of reduction.

Of the two sub-sectors, manufacturing firms reported the steeper downturn. Companies noted that looming recession, economic uncertainty and the cost of living crisis weighed on client activity.

The downturn in incoming new business across Scotland outpaced the UK-wide average.

Output expectations for the year ahead across private sector firms in Scotland strengthened in the three months to October. The increase in confidence was underpinned on planned expansions and investment, with firms also hopeful of future economic stability. That said, sentiment was relatively muted in context of historical data.

Business confidence across Scotland was broadly in line with that recorded for the UK as a whole.

Employment across the Scottish private sector expanded for the nineteenth month running in October. However, amid a cooldown in hiring activity at service providers, with goods producers reporting their first contraction since January 2021, the overall rate of growth ticked down to the joint-lowest in the aforementioned series.

The rate of job creation across Scotland remained softer than that seen at the UK level, which similarly also slowed in October.

October’s survey showed a sustained fall in levels of outstanding business across Scotland’s private sector. The respective seasonally adjusted index posted below the neutral 50 threshold for the fifth consecutive month, the latest reading signalling the fastest depletion in work outstanding since January 2021. As per surveyed businesses, declines in new orders allowed firms to work through previous backlogs.

The rate of contraction in Scotland was the third-fastest across the UK, ahead of Northern Ireland and Wales.

October data signalled a robust rise in input costs across Scotland’s private sector, thereby extending the run of inflation to 29 months. Adjusted for seasonality, the latest reading increased from September’s 13-month low as a result of a reacceleration in input price inflation reported at service firms. The uptick in average costs was attributed to higher wages and utilities, cost of living crisis and general inflation adding strain on costs.

Despite being severe, the pace of input price inflation was however, softer than the UK average.

In line with the upturn in average cost burdens, charge levied by Scottish private sector firms also inclined from September’s recent low at a quickened rate during October.

The rate of charge inflation across Scotland posted weaker than the UK-wide average which slowed during October.

Source: Royal Bank of Scotland, S&P Global.

Judith Cruickshank, Chair, Scotland Board, Royal Bank of Scotland, commented: “The Scottish private sector reported a third month of contraction during October. The downturn in activity quickened on the month, as stubbornly high inflationary pressures, the ongoing cost of living crisis and a threat of recession deterred growth. New orders received at firms also fell further.

“Employment trends across the sector indicated a slowdown in hiring activity over the recent months. The latest upturn was the joint-softest in the current 19-month sequence of expansion. At the same time, the level of outstanding business also fell at a much sharper rate. The data thus suggesting the further weakness in the labour market will not be surprising.

“As we proceed into the final quarter of the year, market conditions are set to become more challenging. The aggressive interest rate hikes, the decline in the value of sterling against the dollar and the rebound in post-COVID demand phasing out, all amidst the ongoing cost of living and energy crises, all point to an extremely difficult period for Scotland.”  

Royal Bank of Scotland: October report on jobs

Renewed downturn in permanent placements during October

  • Permanent placements fall amid growing economic uncertainty
  • Temp billings decline for first time in 26 months
  • Pay pressures soften, but remain strong overall

Hiring activity across Scotland fell into decline during October, with both permanent staff appointments and temporary billings contracting, according to the latest Royal Bank of Scotland Report on Jobs survey.

Permanent placements have now fallen in two of the past three months, while the downturn in temp billings was the first seen since August 2020. Moreover, the rates of contraction were strong overall amid reports of growing economic uncertainty, softening demand conditions and the deepening cost of living crisis.

October data also revealed further increases in starting salaries and temp wages. However, rates of inflation continued to ease, signalling a mild waning of pressure on pay.

Permanent staff placements fall solidly

October data highlighted a fall in permanent staff placements across Scotland. After a month of growth in September, the respective seasonally adjusted index reverted below the neutral 50.0 threshold to signal the second reduction in three months.

The rate of contraction was the fastest seen in nearly two years and solid, with recruiters often linking the fall to growing economic uncertainty and the cost of living crisis.

At the UK level, a fall in permanent staff hires was also noted, with the rate of decline similar to that seen in Scotland.

Scottish recruitment consultancies signalled a reduction in temp billings during October, thereby ending a 25-month run of expansion. The rate of contraction was the quickest seen since July 2020 during the initial wave of the pandemic and strong overall. According to panellists, the latest fall was driven by reduced activity at clients. 

Across the UK as a whole, temp billings were broadly stagnant after rising in each of the prior 26 months.

Downturn in permanent staff supply fastest in three months

Recruiters across Scotland noted a twenty-first successive monthly fall in permanent candidate availability during October. The pace of decline quickened on the month and was marked overall. Panellists generally linked the latest downturn to skill shortages and increased hesitancy to seek out new roles due to rising economic uncertainty.

The pace of reduction across Scotland was more rapid than that recorded for the UK as a whole.

The supply of temp labour across Scotland fell again during October. Despite being severe overall, the rate of decline was the second-slowest in seven months (after September). Recruiters highlighted a lack of European workers and ongoing skill shortages as factors constraining supply.

As has been the case for the last seven months, the rate of contraction in temp staff availability in Scotland was sharper than that seen at the UK level.

Starting salary inflation softens further in October

Latest survey data indicated that average starting salaries for permanent staff in Scotland increased at the slowest pace since June 2021 during October. That said, the pace of wage inflation remained elevated in comparison to the historical average. According to anecdotal evidence, skill and candidate shortages continued to drive up rates of pay.

Data for the UK as a whole also signalled a softer rise in starting salaries during October. Moreover, the pace of inflation was softer than that seen for Scotland for the first time in four months.

As has been the case for the past 23 months, temp wages rose across Scotland during October. While the respective seasonally adjusted index hit an 18-month low, it signalled a sharp rise overall. Greater competition for scarce candidates was cited as a key driver of the latest increase in temp pay.

At the national level, wages also increased at a much slower rate during October. However, the rate of inflation was quicker than that registered in Scotland.

Demand for permanent staff expands at slowest pace in 20 months

Demand for permanent staff grew sharply during October, thereby extending the current period of expansion to 21 months. However, the respective seasonally adjusted index fell for the sixth month running, with the latest reading edging down to a 20-month low.

Across the monitored job categories, IT & Computing registered the steepest rate of expansion, followed by Nursing/Medical/Care.

Recruiters across Scotland noted a twenty-fifth successive monthly rise in temp staff demand during October. While the rate of growth was the weakest since February 2021, it was quicker than that seen across the UK as a whole.

At the sector level, IT & Computing saw the quickest growth in short-term vacancies, followed by Accounts & Financial.

Sebastian Burnside, Chief Economist at Royal Bank of Scotland, commented: “Labour market conditions across Scotland deteriorated in October, as for the first time since August 2020, both permanent placements and temporary billings contracted.

“At the same time, rates of vacancy growth for both permanent and short-term staff continued to ease. Candidate and skill shortages meanwhile stretched the supply of labour thin, with recruiters also noting that increased economic uncertainty had impacted candidate numbers. Though it does seem that market imbalances are becoming less pronounced, the effect on pay remains strong.

“The data therefore suggest that growing uncertainty about the economy and the cost of living crisis are already affecting the labour market, and could weigh further on hiring decisions for the remainder of the final quarter of 2022.”

A Career in Care: Edinburgh College launches new free course

STEP INTO CARE with LOTHIAN CARE ACADEMY

NHS Lothian has partnered up to support the launch of a new Edinburgh College course designed to introduce students to a career in care.

The free course, which is 10 weeks long leads to a guaranteed job interview for participants with a social care provider, opening the doors to potential future employment.

NHS Lothian, working in partnership with Lothian’s four Health and Social Care Partnerships has helped to develop the Lothian Care Academy (LCA) to support education, training and recruitment of health and social care staff.

The step into care course is an initiative championed by the LCA designed to support our the current health and social workforce, while attracting new talent to the profession.

The course itself is aimed at those who enjoy working with people, are compassionate, have a sense of fun and are seeking a new rewarding career they perhaps thought they never had the qualifications to start.

Mhairi Mackay, Senior Project Manager for Lothian Care Academy, NHS Lothian said: “The rationale for this course was to look at new ways of recruiting into social care and to provide people with experience of the job.

“We have adapted the SSSC ‘Introduction to Social Care’ course to include workshops on personal care, infection control and communication so people can be best prepared for what a career in social care might be like. We’re also guaranteeing interviews for candidates who complete the course, so it is a ‘one stop shop’ so to speak.

“The interviews could take successful candidates into a career in a care home or in a care at home service that helps people to keep their independence and stay in their own home.”

Alison Payne, Manager of Erskine Care Home, Edinburgh said: “The course is very important in opening up the option of working in care to a whole new potential workforce.

“I am hopeful that people who have considered working in care, but felt they didn’t have the skills or necessary experience will see this course as a great opportunity and even a steppingstone into a whole new career.

“One of the biggest issues facing the care sector at the moment is recruitment, in particular for care homes and care at home services.

“I think as a care home it was important for us to be involved in this project so that we can give a real insight into what care homes are really like to work in. I would also love people to see the real care home experience and the positive impact this has for residents and their relatives.”

It’s only by working in partnership with care services and Edinburgh College that’s allowed the course to come into fruition.

Commenting on the partnership Andrew Clark, Skills Boost Leader, Edinburgh College said: “One of our key aims at Edinburgh College is to improve employability within our local community.

“This partnership is really a win-win situation as it provides a pathway for people wishing to work in the care industry and gives much needed assistance to the people who require care.”

To find out more about the course, please visit:

https://www.edinburghcollege.ac.uk/courses/browse/step-into-care-lothian-care-academy-ypgnttf-hw1icscz22

Enterprise Rent-A-Car looking for nearly 2,000 employees across UK

246 jobs in Scotland and Northern Ireland including Glasgow and Edinburgh

The world’s largest vehicle rental mobility company is launching one of the UK’s biggest graduate recruitment campaigns this year.

Enterprise Rent-A-Car will recruit 1,454 graduates across its regional network of 450+ rental branches located all over the UK over the next 12 months. It is also recruiting 450 undergraduates for 12-month industrial placements in retail, HR, revenue management, legal and marketing teams.

The campaign launches to support growing demand for vehicle rental in towns and communities across the UK looking for low-cost, low-emission and convenient motoring.

People can apply from any university, degree and attainment level. Enterprise recruits based on potential and is looking for people who can demonstrate customer service, teamwork and leadership skills.

Employees on placements can return to Enterprise after graduation and enter straight into a management role, having completed the training programme on placement. Management Trainees could become a Branch Manager within just two years.

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With more than 450 branches across the UK, within 10 miles of 93.5% of the UK population, applicants can choose to start their Enterprise career anywhere across the country, both in cities and in smaller, more rural areas.

Graduates who join the company’s award-winning Management Training Programme rapidly gain valuable experience across all areas of business management. This includes customer service, operations, sales, marketing and finance, in an entrepreneurial culture that empowers trainees by giving them real responsibility early in their career. 

Ashley Hever, Enterprise Rent-A-Car’s Talent Acquisition Director (Eh? – Ed.), explains: “The Management Training Programme is the starting point to long term careers at Enterprise that can take people to the very top of the business. Most of our country heads started their career as a Management Trainee, and so did I. Once you’re on board, the sky’s the limit.

“This programme is an outstanding opportunity to develop the real-world skills and experience that this year’s graduates may feel they need, as their university years included long periods of remote learning. If you’ve got a degree and the entrepreneurial drive to take responsibility and be a leader, come and say hello to us at one of our events.” 

With branches throughout every region of the UK, Enterprise Rent-A-Car’s graduate Management Trainees can choose to work close to home or head off to pastures new, as they are not tied to expensive cities or obliged to move far away.

This year’s recruits will join Enterprise at a time when transport strategy is in the spotlight, providing exciting opportunities to shape the future of mobility. Businesses and public sector bodies are looking to broaden their travel options to reduce emissions and improve efficiency.

Enterprise is working on exciting solutions and expanding into new markets to meet these opportunities, including Mobility-As-A-Service (MaaS), providing a key link in the connected travel chain and encouraging people to consider shared alternatives to car ownership. 

Enterprise becomes part of the neighbourhoods in which it operates by recruiting locally, enabling a deeper understanding of local customers’ needs and strengthening its ties within the local community. 

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Enterprise Rent-A-Car is an inclusive employer and has long been recognised for recruiting a diverse and equitable workforce. It has been a Times Top 50 Employer for Women for 17 years in a row. Enterprise is actively involved in local and national diversity recruiting efforts, partnering with Enactus, The Automotive 30% Club, BITC and Stonewall.

For more information or to apply for the Enterprise Management Training Programme, visit: https://careers.enterprise.co.uk/graduate-management-trainee-jobs to find out more.

Heriot-Watt ranks as Scotland’s best university for landing a Big Four Accounting job

These Scottish universities give you the best chance of working for a Big Four Accounting Firm

  • Heriot-Watt University ranks as the best Scottish university for landing a job at a Big Four Accountancy Firm, with 991 graduates working for PwC, Deloitte, EY or KPMG.
  • University of St. Andrews and The University of Edinburgh rank second and third respectively in Scotland.
  • London School of Economics and Political Science (LSE) ranks as the best university in the UK for landing a Big Four job.

Heriot-Watt University ranks as the best Scottish university for landing a role at a Big Four Accounting Firm (PwC, Deloitte, EY and KPMG) according to a new analysis of LinkedIn data.

As undergraduates return for their final year of university this Autumn, many will have their mind set on a career with some of the UK’s largest and most reputable graduate employers.

However, as places for these graduate roles become more competitive, many will be wondering how their university stacks up in terms of career prospects.

Online trading platform and broker CMC Markets, analysed LinkedIn data for the Big Four Accounting Firms, PricewaterhouseCoopers (PwC), Deloitte, Ernst & Young (EY) and KPMG, to see where their current employees most commonly attended university.

The analysis looked at the UK’s top 60 universities, including all 24 that are members of the Russell Group, to see which universities have the most graduates working for a Big Four Accounting Firm. The figures were also calculated as a proportion of each university’s enrolment size, based on student enrolment for the 2020/21 academic year according to the Higher Education Statistics Agency.

Scotland Universities ranked for Big Four Accounting Jobs

1. Heriot-Watt University – 991 graduates (8.8% of enrolment size)

Heriot-Watt University ranks as the best Scottish university to attend if you want to pursue a career at the Big Four, with a total of 991 university graduates currently employed across these firms. When accounting for the number of students enrolled in a typical academic year at Heriot-Watt, this works out at 8.8% of the total enrolment size placing it top of any Scottish university in the list and 10th overall in the UK.

2. University of St. Andrews – 927 graduates (8.1% of enrolment size)

University of St. Andrews ranks the second-best Scottish university to attend if you want to pursue a career at the Big Four. The university has a total of 927 graduates currently employed across these firms, which works out at 8.1% of the total enrolment size. St. Andrews ranks 12th overall in the UK in terms of graduates in Big Four Accounting roles.

3. The University of Edinburgh – 1,983 graduates (5.2% of enrolment size)

The University of Edinburgh ranks as Scotland’s third best university to attend if you want to pursue a career at the Big Four. The university has a larger total of 1,983 graduates currently employed across these firms, which works out at 5.2% of the total enrolment size. Edinburgh ranks 33rd overall in the UK in terms of graduates in Big Four Accounting roles.

4. University of Strathclyde – 1,202 graduates (4.9% of enrolment size)

University of Strathclyde ranks as Scotland’s fourth best university to attend if you want to pursue a career at the Big Four. The university has a total of 1,202 graduates currently employed across these firms, working out at 4.9% of the total enrolment size. Strathclyde ranks three spots behind at 36th overall in the UK.

5. University of Aberdeen – 580 graduates (3.6% of enrolment size)

University of Aberdeen ranks as Scotland’s fifth best university to attend if you want to pursue a career at the Big Four. The university has a total of 580 graduates currently employed across these firms, working out at 3.6% of the total enrolment size. Aberdeen ranks 40th overall in the UK.

6. University of Glasgow – 1,339 graduates (3.6% of enrolment size)

University of Glasgow ranks as Scotland’s sixth best university to attend if you want to pursue a career at the Big Four. The university has a total of 1,339 graduates currently employed across these firms, also working out at 3.6% of the total enrolment size. Glasgow ranks 41st overall in the UK.

7. University of Stirling – 293 graduates (2.0% of enrolment size)

University of Stirling ranks as Scotland’s seventh best university to attend if you want to pursue a career at the Big Four. The university has a total of 293 graduates currently employed across these firms, working out at 2.0% of the total enrolment size. Stirling ranks 51st overall in the UK.

8. University of Dundee – 279 graduates (1.7% of enrolment size)

University of Dundee ranks as Scotland’s eight best university to attend if you want to pursue a career at the Big Four. The university has a total of 279 graduates currently employed across these firms, working out at 1.7% of the total enrolment size. Dundee ranks 53rd overall in the UK, nearing the bottom of the list.

Top UK Universities for Big Four Accounting Jobs

1. London School of Economics and Political Science (LSE) – 5,776 graduates (42.9% of enrolment size)

2. University of Cambridge – 3,401 graduates (15.4% of enrolment size)

3. Oxford Brookes University – 2,355 graduates (13.2% of enrolment size)

4. Durham University – 2,702 graduates (13.1% of enrolment size)

5. University of Lancaster – 1,732 graduates (9.9% of enrolment size)

University ranking by percentage of alumni who list themselves on LinkedIn as working for a Big Four firm

RankUK UniversityPwC EmployeesDeloitte EmployeesEY EmployeesKPMG EmployeesTotalTotal student enrolment (for the 20/21 academic year)Number of alumni working at The Big Four as a percentage of current enrolment size
1.London School of Economics and Political Science (LSE)1,4941,7981,4771,0075,77613,45542.9%
2.University of Cambridge8931,0578446073,40122,15515.4%
3.Oxford Brookes University5635598094242,35517,79513.2%
4.Durham University7547945885662,70220,64513.1%
5.University of Lancaster4664354973341,73217,4709.9%
6.University of Warwick7618106145272,71228,1109.6%
7.University of Oxford6618565465042,56727,1509.5%
8.Queen’s University Belfast1,1494884162862,33925,3659.2%
9.University of Bath4805004063221,70818,5559.2%
10.Heriot-Watt University25527327019399111,2008.8%
11.University of Nottingham9198496256503,04335,7858.5%
12.University of St. Andrews28327620216692711,4858.1%
13.Imperial College London4575453713321,70521,3708.0%
14.University of Bristol7176555154762,36329,7857.9%
15.The University of Manchester9871,0017707293,48744,6357.8%
16.University of Birmingham8587965766672,89737,7507.7%
17.SOAS University of London116138951014505,8657.7%
18.University of Southampton4235293373081,59721,3957.5%
19.University of Leeds8817175685442,71036,8407.4%
20.Loughborough University4113792902601,34018,3357.3%
21.University of Exeter6206324674722,19130,2507.2%
22.Queen Mary University of London4155263763481,66523,8707.0%
23.University College London (UCL)8619997035443,10745,7156.8%
24.Newcastle University6604763663111,81327,7756.5%
25.University of Leicester2723252341811,01216,1006.3%
26.Royal Holloway, University of London21023716512773912,2956.0%
27.King’s College London5766995544702,29938,4456.0%
28.Ulster University

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Bank of Scotland Business Barometer: Dip in Scottish business confidence

Bank of Scotland’s Business Barometer for October 2022 shows:  

  • Business confidence in Scotland fell 10 points during the last month to 5%
  • Country’s businesses identify top growth opportunities as evolving their offering (33%), investing in their teams (29%) and entering new markets (27%)
  • Overall UK business confidence fell one point during the last month to 15%, with five out of 11 nations and regions reporting a higher reading than September

Business confidence in Scotland fell 10 points during October to 5%, according to the latest Business Barometer from Bank of Scotland Commercial Banking – conducted between 3rd-17th October.

Companies in Scotland reported lower confidence in their own business prospects month-on-month, down 11 points at 22%.  When taken alongside their optimism in the economy, down 10 points to -14%, this gives a headline confidence reading of 5%. 

Scottish businesses identified their top target areas for growth in the next six months as evolving their offering (33%), investing in their teams (29%) and entering new markets (27%).

The Business Barometer, which questions 1,200 businesses monthly, provides early signals about UK economic trends both regionally and nationwide.

A net balance of 16% of Scottish businesses expect to reduce staff levels over the next year, down two points on last month.

Overall UK business confidence fell one point during October to 15%, in line with the average over the last three months. Firms’ outlook on their future trading prospects was up two points to 27%, and a net balance of 21% are planning to create new jobs, up four points on last month. However, businesses optimism in the wider economy dropped three points to 2%.

Five UK regions and nations recorded a month-on-month increase in optimism in October. Of those, London (up 16 points to 49%), the North West (up 14 points to 28%) and Wales (up nine points to 5%) saw the largest monthly increases, with London remaining the most optimistic region overall.

Chris Lawrie, area director for Scotland at Bank of Scotland, said: “Ongoing economic challenges, not least the cost of doing business, is hitting firms and we’re seeing this reflected in a less optimistic outlook.

“As we approach the busiest trading period of the year for many, businesses across the country need to prioritise maintaining a steady cashflow to remain resilient and be well-equipped for any opportunities to grow.

“After all, Christmas can be a frenetic and expensive time for businesses and their customers, so firms need to have a plan in place to manage this, as well as having some money aside to cover unexpected costs.

“We’ll remain by the side of Scottish businesses to help them continue to navigate the challenging market conditions and push for growth.”  

Business confidence in the manufacturing sector fell for the fifth month in a row, to 13%, down 1 percentage point, the lowest confidence level since February 2021.

Confidence in the retail sector declined by 6 percentage points to 9%, while confidence in the services sector also fell to 16%, both the lowest levels since early 2021.

However, the construction sector saw a 10 percentage point rise to 20%, although this level still remains weaker than in the first half of the year.

Paul Gordon, Managing Director for SME and Mid Corporates, Lloyds Bank Commercial Banking, said: “While confidence has marginally decreased this month, this also comes at a time of great economic uncertainty. The fact that it has only fallen by 1% suggests that businesses are showing resilience.

“As we head into the winter months and price pressures continue, energy price increases will start to bite and we are seeing continued pressure on pay expectations.

“Businesses need to keep a watchful eye on costs to ensure they are in the best possible position to face any future headwinds. For businesses that may be struggling, we encourage them to reach out to their networks for support. At Lloyds Bank we remain by the side of businesses to help navigate these challenging times.”  

Hann-Ju Ho, senior economist for Lloyds Bank Commercial Banking, said: “While business confidence has marginally fallen this month, along with a drop in forward looking economic optimism, it is encouraging to see businesses still looking to increase their headcounts.

“However, cost pressures remain evident as businesses raise prices to protect their margins and wage pressure continue to be impactful. Given the recent turbulence in financial markets, it will be interesting to see how this will affect business confidence.”

Record number of Scots are being paid the real Living Wage

A Fair Work approach to the cost of living crisis

A record proportion of employees in Scotland are being paid the real Living Wage (rLW) or more, new figures have revealed.

The Office for National Statistics’ Annual Survey of Hours and Earnings shows 91% of employees aged 18 and over earned at least the rLW in 2022, an increase from 85.5% in 2021 and the highest proportion since the rLW series began in 2012.

In comparison, 87.5% of employees aged 18 and over in England are paid the rLW or more, 88.2% in Wales and 85.4% in Northern Ireland.

The ONS survey also confirms that the Gender Pay Gap is lower in Scotland than across the UK as a whole. For full-time employees the gap is 3.7% compared with the UK figure of  8.3%.

The Scottish Government is committed to tackling the cost of living crisis with a Fair Work approach, ensuring workers are paid at least the rLW – currently £10.90 per hour – and supporting more women into jobs through flexible working opportunities.

Minister for Employment and Fair Work Richard Lochhead said: “The Scottish Government’s commitment to promoting payment of the real Living Wage is a fundamental part of our National Strategy for Economic Transformation and a key cost of living policy to deliver a fairer and more equal society.

“The ONS figures confirm that Scottish employers are leading the way and we can be proud of the progress that has been made.

“There is still work to be done on tackling the gender pay gap, but we are taking steps to make this happen. We will publish our refreshed Fair Work Action Plan later this year, outlining the actions needed to close the gap further and create a more diverse and inclusive workplace.

“We will continue to work with employers, employability providers and partners to achieve this aim.” 

Read the Annual Survey of Hours and Earnings statistics in full here.

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