However, Chris McCarthy, director of the recruitment agency Hays Senior Finance, says although many employers had to stop their graduate recruitment, university milk rounds have started again and companies still see the value of Generation Y for the new ideas they bring. He also points out that graduates who have gone on to become qualified accountants have been in high demand recently.

"Within the employment landscape, finance has been the best place to be over the last two years," he says. "If you're going to survive the recession you need a very good finance function."

Bibb says employers do want to hold on to their young talent and her clients have told her they will not be cutting back on their training and development budgets. She says given Generation Y's propensity to change jobs in order to further their careers, companies are aware that failing to invest in them now could lead to an exodus later.