New grads have it tougher now than those in years passed considering they are often up against their industries experienced and well-established professionals. Another contributing factor making their search more difficult is that there are simply less jobs since fewer companies are actively hiring.
Job placement expectations for the Class of 2009 have dramatically decreased compared to those of the 2008 graduating class. In fact, companies are forecasting to hire 22 percent less graduates this year than they did last year. During the spring recruiting session alone, over 20 percent of employers were not expecting to be hiring at all.
As for those graduates fortunate enough to secure a new position they face still another obstacle. Salaries have flattened. This year, graduates holding a bachelor degree are bringing in just about $50 more per year on average when compared to the class of 2008.
It is interesting to note, however, that college recruiting is still a very valuable resource to employers searching for new-hires to fill entry-level positions; despite the overall decline in job opportunities. 44 percent of entry-level positions were filled by college recruits in 2008 which was up 9 percent from the year before. Having said that, grads remain fairly optimistic in the face of our nation’s economic outlook. 53 percent of respondents polled stated that they were confident they would be employed within three months of graduation.
Just because finding a job is more difficult in the current market, it does not mean it’s impossible. Those that take advantage of internships will be at an advantage for sure. There are some experiences that can not be taught, even at the best College or University. It’s these “real-world” experiences that can sometimes make all the difference in securing a new position. Grads should leave their comfort zone and accept that they will have to do jobs/tasks that they really don’t want to. And those that consider it a stepping stone will have nothing to loose and everything to gain.
Innovative thinkers will also be prime candidates to receive job offers. And who has newer, fresher ideas than those new to the field? Recent grads aren’t yet “set in their ways” as some experienced professionals may be. They are more easily adaptable and open to change, because after all, everything is new to them. They have taken the best of what their mentors, professors and peers have offered them. It is through this exchange of ideas they mold their own style.
Although there are definitely less job opportunities within the current market and the search will be difficult to say the least, recent grads should remain positive. They are the future leaders of their fields and employers that understand and respect that will be all the better for it.