Some graduates are paying in order to secure prized internships because of the tough market for jobs, the BBC reports.

The practice has been criticised by university careers advisers including the head of Oxford University’s careers service, Jonathan Black.

People who have recently come out of university are often keen to gain relevant work experience and some have voiced concern that working for free is becoming a standard practice for new entrants in some industries.

However, graduates are able to gain an edge without having to work for free for long stretches of time. Obtaining up-to-date careers advice is often crucial, helping candidates better target their applications.

Additionally, professional qualifications can be a good first step on the ladder to a career and are becoming increasingly important for finance graduate schemes.

Last week, Hays released research showing that there will be more banking graduate jobs available over the coming months, particularly specialist roles.

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