Grant Thornton also offers financial modelling tools and financial assistance to graduates, who may be starting work in significant debt.
Todd says internships and work experience are an important way to identify talent and it is essential to treat young people on such programmes fairly. “We do not get our interns in and pay them a complete pittance for doing general or basic roles. We will pay them what we consider would be the appropriate rate for a level one position.
“That will vary depending on location. You are not going to attract anyone in London on what I would call an insulting way of paying someone.”
The company, which recruits about 200 graduates a year, negotiates contracts via text messages and provides mentors to support new recruits, whose salary is linked to performance. Once an employee is on a training contract, how they progress through salary levels is very much down to them and their performance.
“Four or five years ago, it was a hugely competitive market,” says Todd. “From my personal point of view, the graduate starting salaries started to escalate and you got quite a lot of graduate salary drift because of the sheer competition.
“Because there are such a lot of graduates coming onto the market now, I do not think employers have to keep moving the graduate starting salary.”
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