People in finance graduate jobs expecting to get a pay rise this year may need to think again, following the results of new research.

A study by uSwitch reveals that over 16 million people do not expect to get a pay rise at all this year. A further nine million anticipate receiving a rise below the level of inflation, which stands at 3.5 per cent.

The average gross salary is set to increase to £24,425, equivalent to a pay rise of just 1.9 per cent or £27 a month, reports the study.

Commenting on the figures, Ann Robinson, director of consumer policy at uSwitch, said: "The government is going to have a hard time persuading people that things are on the up when over half the workforce is witnessing a zero per cent pay rise.

"This will do nothing to improve consumer confidence – a key factor if the economy is to claw its way out of recession," she added.

Some 5.4 million people are reported to be spending more than they earn, while 13 million are just managing to break even at the end of every month.

Meanwhile, finance graduate jobs appear to be on the increase in Scotland following reports of leading firms being on the hunt for talent.

Mark Hoskyns-Abrahall, graduate recruitment partner at PricewaterhouseCoopers (PwC) in Scotland, said the firm had around 25 vacancies in Scotland at present.

"So you’re a student or graduate who wants a top paying career in Banking & Finance?”

If yes, watch the video on the right now to gain instant access to everything you need to secure a top paid career / internship in banking & finance (Valued at £197)…