The number of vacancies available for graduates is expected to fall this year for the first time since 2003, a survey claimed on Wednesday.

The last batch of graduates – the first to have contributed top-up tuition fees for the full three years of their degree course – are faced with a 5.4 per cent cut in graduate vacancies in 2009.

In the banking sector, which has been at the centre of the global economic downturn, job opportunities are forecast to fall 28 per cent.

According to the Association of Graduate Recruiters (AGR), which compiled today’s research, the average starting salary for graduates will be unchanged in 2009 from 2008′s value of £25,000.

“Last summer our members predicted an optimistic growth in vacancies of over 11 per cent. Soon after that we saw a series of catastrophic events in the financial sector with serious consequences for many other sectors such as construction. It comes as no surprise that these seismic shifts in the economy are being mirrored to some extent in the graduate jobs market. The predicted rise in jobs in 2008 simply did not occur,” said AGR chief executive Carl Gilleard.

“The message coming through loud and clear for this year’s graduates is research, research and more research – know your potential employer and know your sector. For those who do not secure that dream job first time round, the key is to take some form of paid employment if you can.”

Universities UK president Professor Rick Trainor said the survey reflected “challenging times” for graduates.

“The decision on whether to undertake advanced study rather than enter a difficult jobs market will be for the individual to decide,” he commented. “We believe, however, that gaining specialist, higher-level skills will give graduates an edge.

“Research shows that graduates are more likely to be employed and to earn higher salaries compared to those with the next highest qualification and are more likely to return to employment following periods in unemployment or economic inactivity. Higher education is a long-term investment.”