Barclays launch graduate grant scheme to tackle interview costs

Being a recent graduate can be daunting. Not only are you trying to get your foot on the career ladder and attending every job interview possible in a bid to do so, but according to new research by Barclays, UK graduates are spending an average of £550 attending job interviews before securing a job.

The poll of 1,000 graduates conducted in August 2018, found that a staggering 54% have turned down interviews or decided not to apply in the first place as they were unable to afford to attend the interview.

48% of graduate jobseekers borrow money, go into overdrafts or take out credit cards to fund the expensive costs of commuting to interviews. Despite this making finding a job inaccessible for many, 61% of prospective employers admitted they wouldn’t cover the basic costs of an interview.

Jobseekers frequently spend around £80 on buying appropriate clothing, £90 on travel and accommodation, £205 on resources to boost employability and £175 on software to enable upskilling, meaning the costs just for finding a job can quickly escalate.

Having uncovered the problem, Barclays are launching a Graduate Fund scheme to help Graduates take their first steps into their chosen careers.

Josie Clapham, Managing Director, Community Banking at Barclays says;

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“We understand how stressful and challenging this time can be for new graduates, and we want them to be able to focus on finding the job that's right for them - rather than fretting about whether they can afford to attend an interview.

We hope the Barclays Graduate Fund will go some way to support graduates as they take their next steps and look forward to

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