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The number of university leavers vying for relatively well-paid jobs has almost trebled in just three years, it has emerged.

Among investment banks, some 232 candidates are applying for each position, while an average 188 graduates are competing for positions in energy or utilities companies.

The disclosure – in data published by the Association of Graduate Recruiters (AGR) – underlines the extent to which the jobs market has failed to keep pace with the expansion of university places in recent years.

Candidates leaving university without at least a 2:1 are likely to miss out, as almost three quarters of firms say this is a minimum requirement.

It suggests thousands of graduates are likely to be forced onto the dole queue or take up low-paid work in bars, supermarkets and building sites to make ends meet.