According to new research from Barclays, UK graduates spend an average of £550 attending job interviews before securing a job
The research which polled 1,000 graduates found that 48% of graduate jobseekers have to borrow money, take out credit cards or go into their overdrafts to fund expensive commuting fares to interviews, which makes finding a job inaccessible for many.
Jobseekers frequently spend £80 on buying appropriate clothing, £90 on travel and accommodation, £205 on resources to boost employability and £175 on software to enable upskilling – so the costs quickly rack up.
And, the survey revealed that 61% of prospective employers wouldn’t even cover the basic costs of an interview, while 54% have had to turn down interviews or not even applied (51%) because they know that they can’t afford to attend the interview.
So, to tackle this problem following results from the survey, Barclays are launching their Graduate Fund scheme to help student jobseekers access their careers more easily.
Graduates can apply for grants from the £20,000 pool of ‘free money’ to make attending interviews more affordable. And, this money can be used for anything from interview clothing, travel and accommodation to training and development resources and upskilling.
This grant is a one-off cash injection that doesn’t need to be paid back.