Return (almost) to the normal state of young graduates of business and engineering schools. According to the latest annual * Conférence des grandes écoles (CGE), published this Wednesday, 15 June, the net employment rate ** in the 2021 class is 89.8%, less than six months after graduation. It will be recalled that due to the crisis, this figure was 79.1% only for the 2020 class. Thus, the net employment rate exceeds the pre-crisis level (88.1% for the 2019 class).
This very good momentum can be explained by the special context of the labor market related to economic recovery. Indeed, for many occupations, employers face significant difficulties in finding enough talent to meet their needs. Therefore, the current situation is favorable for young people entering the labor market. It remains to be seen whether it will last.
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 large French institutions less than six months after graduation has returned to the growth trend observed since 2016, to a low of 2021 (-0.7%, note). “, CGE points out in its report. Thus, the average annual salary for the year increased by 3.1% for all young graduates and amounted to 36,551 euros.
To give you an even better idea of the salary you can receive after graduation, CGE has increased the salaries of young graduates of engineering and business schools from the 2021 graduation. And this, in the main areas of activity that hire them.
As for new graduates of engineering schools, almost half of them (47.3%) work in two sectors: consulting and engineering, as well as services in information and communication technologies. In these areas, the average salary of young engineering school staff is € 35,434 and € 37,257 gross per year, respectively. But it is not surprising that the financial and insurance sectors pay the best, with an average gross salary of € 42,868 per year earned in engineering.
>> Find in the table below the salaries that graduates receive after graduating from engineering schools, by main areas of activity
Among employees who have recently graduated from business school, we see salaries that are generally higher than those of engineers. But again, it is the financial and insurance sectors that offer the best salary (an average of € 45,388 per year gross). As for young graduates of engineering schools, it is consulting and engineering companies and independent design bureaus, as well as information and communication technology services that are recruiting more and more young people leaving business school. Again, salaries are on average much higher than those of engineers.
>> Find in the table below the salaries that graduates receive after graduating from business schools, by main areas of activity
The only downside: Grandes Ecoles do not provide an opportunity to correct the pay gap between men and women. With some exceptions, the average salary of women graduates of Grandes écoles is generally lower than that of men in the above sectors. It should be noted that more than every sixth graduate in 2021 (17.2%) currently earns less than 30,000 euros gross per year. This is twice less than for men (8.7%). At the other end of the scale, only 13.5% of Grandes Ecoles graduates earn more than € 42,000 gross per year, compared to 18.8% of men. “Our schools need to do more in terms of gender equality,” said Nicolas Glady, president of CGE and director of Télécom Paris.
* The survey was conducted from December 2021 to March 2022 among young graduates of 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, etc. took part.
** Net employment = (young graduates work + volunteering) / (young graduates work + volunteering + looking for work).
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