What kind of contract do MSc graduates get in their first job?
More than half of employed MSc graduates from RSM, 58%, got a permanent contract either immediately on appointment, or within a year of being hired. That’s a 5% decrease in permanent contracts compared to last year’s survey.
In contrast to last year’s survey, when jobs in non-EEA countries provided the most security for graduates in their first job; this year respondents finding a job in a EEA country, 82%, got a permanent contract on being hired, or within a year of being hired. In the Netherlands the amount of companies providing a permanent contract (41%) and a temporary contract - entitled to a permanent contract (39%) are almost equal.
Sectors that are most likely to give permanent contracts are information/communication (83%), consultancy and business research (66%) and financial services and insurance (57%).
How many hours do graduates have to work for their money?
On average, graduates are recruited to work a 39-hour week in their first job. In reality, respondents say they work an average of 49 hours per week, but there are big differences in the number of hours worked according to industry sector.
Similar to last year’s survey, the biggest difference between contract hours and hours actually worked is in an EEA country where one of our respondents is contracted to work a 40-hour week, but usually puts in 53 hours per week – that’s an extra 13 hours, or one and a half day per week. For those MSc graduates with jobs in the Netherlands, the average difference between hours contracted and actual hours worked, according to our survey, is around 8,5 hours.
Those working in education, whether it’s the industry or function, tell us they work about the same number of hours as stated in their contract; on average 40 hours. There is a large difference in the real estate industry, where our graduates tell us they put in an extra 30 hours, but with only two real estate respondents, this figure cannot be said to represent the whole industry. And last but not least, MSc graduates working in consulting or finance experience a difference between contract hours and hours actually worked of more than 12-13 hours per week.