The firm’s 'pile it high and sell it cheap' approach has admittedly helped it to do very brisk business in the current downturn, with UK sales up 25% recently, propelling Aldi into the prestigious top 10 of the world’s retailers. But all the same the news that it is now offering the country’s most lucrative deal for new graduates is a bit of surprise. After all, in recent years we’ve become used to the idea that young bucks in search of the top dollar head for the City, or a big law firm or consultancy at a pinch.
Well, not any more, according to research from graduate recruitment market specialist High Fliers. Milkround recruitment is down 17% across the board, but the intake into the investment banking sector has been worst hit of all, with jobs down 44% year on year. Graduate vacancies in professional services are down 15%, too.
And even though the money on offer at banks and law firms - £38,000 and £37,400 on average respectively - is not too shabby compared to the overall average graduate salary of £27,000, it can’t hold a candle to Aldi’s tempting ‘four with four zeros’ deal. Especially not when you consider that the package rises to £60k for those who are still there in three years time, and that an Audi A4 company car is thrown in. Presumably there’s a staff discount on those already unbeatable Aldi grocery prices, to boot. What’s not to like?
What’s more, it seems that Aldi is a no-nonsense employer, happy to make up for any lack of perceived glamour with a hefty financial incentive. A refreshingly frank approach, typified by the company spokesperson who told one newspaper: ‘Nobody grows up wanting to be a discount retail executive. But if you look beyond the job title, it’s a people focussed job with great opportunities for progression.’ Makes a very welcome change from all those City types with their enormous egos trying to persuade our gilded youth that they are the new Masters of the Universe.
It’s obviously working too – Aldi has increased its graduate intake by 50% to 150 posts this year, but is still getting a remarkable 2,000 applicants for every one. Not bad.
It will come as no surprise to many of you that the only area in which recruitment is up this year is – you guessed it – the public sector, posting a whopping 51% rise in graduate posts. So that’ll be another chunk of national debt in the making, then. Oh, and the armed forces, up 17% over the past two years. Here at MT, we think Aldi is a better bet. As far as we know, no-one ever got shot at for doing a two-for-one deal on jumbo boxes of tea bags and family packs of toilet roll.
In today's bulletin:
Primark makes Currys and Argos look like no-marks
Russian ex-spy sniffing round Evening Standard
Small firms get £20bn - but what about the big boys?
Graduates earn biggest bucks at... Aldi
Bottoms up: UK named biggest wine importer