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But that's the problem - I can't. If I'm getting rejected from £12,000 graduate jobs what hope have I got of earning £40K in 2 years? In 2 years I'll be very lucky to be back up to the £17K I was earning pre-degree.

I have a great academic record, I'm predicted a first class degree and I have experience of a management level, high pressure job from my gap year so I'm not an unemployable retard or anything! Perhaps the job market's just taking a serious downturn?