Half of this year’s graduates surveyed for a new report say that formal training is an important factor when looking for a job.

The study by Accenture also found that the majority of students graduating from university in the UK this year fear an economic downturn will affect their job prospects, with 59% worried that a weakening economy will result in fewer jobs being available after graduation.

But despite the economic climate, most said they would hold out for their dream job: only 17% said they would compromise their job requirements.

When it comes to looking for the right employer, 49% think that the prospect of formal training is an important factor while 46% would like a manager who will mentor and coach them.

"Generation Y is entering the workforce with strong values and demands that employers haven’t had to address with previous generations,” said Peter Cheese, managing director of Accenture. "To be relevant to these job seekers, employers must find ways to satisfy their needs for balance, fun, mentoring and opportunities to grow and be challenged."