A graduate placement scheme that includes assisted more than 8, 000 students into work over 11 many years will cease at the end of the year because European financing has actually come to an end.
Graduate Opportunities Wales (GO Wales) is run by the degree Funding Council for Wales (Hefcw), which includes confirmed that scheme will end on December 31, 2014.
While Hefcw is focusing on replacement projects, it will not determine whether money was guaranteed until the following year – indicating there would be a gap amongst the end of GO Wales therefore the launch of every brand-new programme.
The plan was put up in 2003 and was delivered by universities across Wales together with over 2, 400 employers.
Insider magazine stated that over 70 people were used to function on GO Wales at degree establishments. Several of those workers could move into various other university tasks.
Some 71% of GO Wales graduates found just work at the end of their particular placements, and 55% got a job with their positioning employer, according to present figures from Hefcw.
Graduates usually done placements for between six and 10 days and had been paid about £250 per week.
The most popular positioning kinds for GO Wales graduates were marketing, advertising and product sales, information technology, management, and media, digital and imaginative.
In December 2013, the Welsh Government cited GO Wales as causing its Youth Entrepreneurship Strategy. At that time, Economy Minister Edwina Hart stated: “GO Wales has supplied 1, 012 youthful students and graduates the chance to gain compensated, project-based work knowledge or learning SMEs (little and medium-sized enterprises) in Wales.”
Any new system will have to be approved by the European Commission.
A spokeswoman for Hefcw stated: “Through GO Wales, students of all of the ages have had use of top-quality work placements, instruction and jobs. Within the last few educational 12 months, more than half of places were subsequently employed by their particular number business, showing that companies included have-been keen to harness the information and skills of students and graduates to develop their particular company.
“Funding for GO Wales ends up on December 31, 2014, attracting to a close current phase regarding the European-funded programme. We're now not able to accept much more pupils or companies onto the programme.
“We have submitted two proposals for further European financing for students programme and a graduate employability programme. Although we won’t understand the outcome until 2015, our company is excited during the prospect of being capable relaunch another, albeit customized, GO Wales system in the foreseeable future to target younger, unemployed students.
“We know that many institution staff who were focusing on GO Wales have previously secured additional good-quality work of their institution or additional afield, and all sorts of partner universities have actually a redeployment and redundancy process for affected staff.”