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Will £60,000 attract the top graduates?

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Mobile phone retailer Phones4U is planning to offer starting salaries of up to £60,000 to high-flying graduates. Owned by the Caudwell Group and based in Stoke-on-Trent, Phones4U has been struggling to recruit in a tight labour market.

Launching the recruitment drive for graduate high-flyers, John Caudwell, multi-millionaire founder and chairman of the group, said: “We are missing opportunities in British and European markets because we simply cannot recruit exceptional people fast enough.”

The company, which last year achieved sales of £1 billion, is hoping to to hit £20 billion by 2020.

Other companies are also reported to be going to extraordinary lengths to attract top talent. Management consulting firm Accenture, raised eyebrows last year for offering a £10,000 golden hello to graduates.

According to Incomes Data Serves, the average starting salary for graduates is expected to rise to £19,157 in 2001 compared to £18,671 in 2000.

Students targeting the human resources profession will see the smallest increases – typically just 2.8% more than the previous year, according to data from the Association of Graduate Recruiters (AGR), a body representing blue chip and public sector recruiters.


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