Its analysis of the number of places available with the UK’s 100 most established and successful employers found that banking and finance has the most substantial decrease (8.9%) in work experience possibilities this year, followed by investment banking (7.2%) and then accounting and professional services (3.9%).

In contrast there has been a 59% hike in the number of work experience opportunities in the public sector, with 401 more places this year compared to last.

On the other end of the scale, with 55 less openings in 2018 (155) compared to 2017 (210), the lucrative field of consulting has seen the most significant decrease (45%) in work experience options for undergraduates. There has also been a 20% drop-off in opportunities in information technology and telecommunications.

The research also highlighted the main challenges employers face when recruiting university students for internships and placements, with a third (36%) seeking an increase in the quality of students they hire for placements. More than one in ten (13%) are intending to attract more applications for their future internships/placements.

Joseph Scott, spokesperson from Theknowledgeacademy.com, said: ‘In the current job climate, academic achievements or reputation of attended educational institutions alone cannot propel a graduate’s prospects. Whilst students are in the early years of university, they are recommended to experience much relevant work experience as possible.

‘This research provides students with an indication of how limited as well as competitive work experience opportunities can be in a range of highly desirable industries’.

The ‘High Fliers’ report is here.

Report by Pat Sweet