The truth about graduate costs today: Iona’s insights for Milkround

Forget about the cost of living: are you, as a graduate, ready for the cost of working?

That might sound like a silly question. After all, we go through education, and many of us go onto uni, to get a job precisely so we can earn enough to pay the bills – right?

But think about it. Travelling to interviews, splashing out on a new office-appropriate wardrobe, relocating for your first job…starting out in the world of work comes with a whole bunch of upfront costs that you may never have even considered.

Until now. New research from Milkround is lifting the lid on the real price tag of that dream job: more than £2500.

So can YOU afford it?

As founder of the Young Money Blog, I know all-too-well how expensive modern life can be for young professionals today. And the biggest dilemma facing a graduate is whether they should move away from home to improve their job prospects – even if it puts yet another strain on their finances.

Today, the question of relocate to the big city is even less clear-cut than it used to be. Lockdown has prompted a seismic debate on the future of working. Even though the government is now encouraging people to get back to the office, workplaces will still have to be “Covid-secure” for the forseeable future, which limits the number of employees allowed on site. This means many more people will be working from home for the rest of this year – and possibly beyond. Major graduate employers like Schroders have already announced plans to make “WFH” permanent.

It’s very difficult to say how this will affect graduates and other new entrants to the workforce. But I recently did some work with Milkround, one of the UK’s biggest graduate recruiters, to find out just how much it costs for graduates to relocate to the big city today. Read our snazzy infographic report so you can understand the challenges and make an informed choice…

PLEASE NOTE: This particular post is not part of my recent commercial engagement with Milkround. I am sharing the report and infographic as I believe it’s of interest to grad and non-grad readers – I hope you learn some interesting and useful things from it. 

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