Great.
UPDATED: Okay, I guess it's more complicated. There is a way to stay, I guess: it just would cost me a little over £3,000. Here's how it works. First you graduate, and get a Tier 1 (Post-study work) visa:
The Tier 1 (Post-Study Work) category aims to retain the most able international graduates who have studied in the United Kingdom. It will also enhance the United Kingdom’s overall offer to international students. Successful applicants will be free to seek employment without having a sponsor for the duration of their Tier 1 (Post-Study Work) leave. This category provides a bridge to highly skilled or skilled work. Individuals with Tier 1 (Post-Study Work) leave will be expected to switch into another part of the points based system as soon as they are able to do so.This is like £600 for the main applicant and £300 for each dependant. Then you go out and find a job, a temporary one mind you, as you will only have leave to stay for two years. You do that temporary job and they decide to like you and employ you long term and you can switch to a Tier 2 (Skilled work) visa which is three years and renewable:
You can be assigned a certificate of sponsorship and score 30 points if you are switching from: Tier 1 (Post-study work) You must have worked for your current sponsor for a continuous period of at least 6 months immediately before the date of your application. You must be applying to continue to work in the same job that you are doing in the UK on your application date.This will set you back £550 plus £250 for each dependant.
Although this is true:
For the year from 6 April 2011 to 5 April 2012, a maximum of 20,700 skilled workers can come to the UK under Tier 2 (General) to do jobs with an annual salary below £150,000.It only counts for people coming from abroad.
Can't find any documentation about the 'employ a UK person over a foreigner' law, but if that's true none of this matters.