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Calls for pay gap to be reduced

Published: Thursday, 09 June 2011   Category: All Graduate job news

The best talent could be encouraged into graduate jobs with competitive wages, if new evidence is to be believed.

According to IPPR, one of the biggest gripes in the workforce is the discrepancy between pay for entry-level positions and graduate schemes compared with high-level executive jobs.

A report published by the political think tank, called Getting what we deserve?, indicated that 78 per cent of people would support legislation to close the pay divide between the lowest and highest earners.

When questioned on what they thought chief executives should earn, the average answer was £360,579, a figure that is significantly lower than the £1 million people in this position typically earn in reality.

Nick Pearce, IPPR Director, said: "People think you should get paid what you deserve and don't see the current inequalities as a fair reflection of differences in effort and talent.

"People want to see the benefits of success more fairly shared within organisations, instead of a few top earners getting an ever bigger share of the pie."

For companies who can't afford to pay their graduates the best rates, underlining future potential benefits and bonuses could be a way to keep them incentivised for the future.

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