Unemployment is still at 9 percent, and the papers are filled with stories about out-of-work young people. What’s a brand-new college graduate to make of all this? Luckily, 2011 grads shouldn’t be too discouraged — there’s some good news these days, too.
DON’T LOSE HEART. The big picture is that college graduates are still much better off in this economy than those who don’t have that degree. The unemployment rate for college graduates is just 4.5 percent versus 10.8 percent for those with no more than a high school degree.
THINGS ARE LOOKING UP. According to recent research from the National Association of Colleges and Employers, 42 percent of college seniors who applied for a job this spring received an offer, which is a four percentage-point increase over last year. Employers are saying they plan to hire 19 percent more new college graduates this year than they did last year. And the total number of available positions has skyrocketed, meaning there are fewer applicants per job this year. That gives you a better chance at snagging one.
CONSIDER PUBLIC SERVICE. The New York Times reported this spring that many recent college graduates are turning to public service jobs instead of high-paying private-sector positions. Applications to the Peace Corps, Teach for America, and AmeriCorps have skyrocketed in the last few years. As AmeriCorps spokesman Sandy Scott told me, “This is a generation that’s service-minded.” But another factor could be the relatively new Public Service Loan Forgiveness program, which forgives federal student loan debt after 10 years of working in a public service job; that definition can include government jobs, public health, law enforcement, and many others. (Go to www.ibrinfo.org for more information.)
ADVICE FOR 2011. So what’s a new grad to do? As usual, the highest-paying jobs are in fields like engineering and computer science, though unexpected fields like nursing and human resources also often pay entry-level workers relatively well. According to NACE, there are lots of entry-level jobs in accounting, consulting, and banking these days, too. It helps if you’re willing to move: This 2011 jobs forecast predicts big growth in Texas, for example.
ADVICE THAT’S EVERGREEN. Let’s be honest: A lot of the advice for new grads this year is the same as it was 10, even 20 years ago. (Sorry, you’re not so unique after all!) Network like crazy (try your alumni association), take internships, and be willing to get your foot in the door with a less-than-ideal job. Oh, and proofread your cover letter and résumé!
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Comments [4]
If I had a son today, I would not send him to college. I would try to work out a deal to pay 1/2 his wages for a time while he learned a trade. Air Conditioning and Plumbing come to mind as fields where you can make a decent living. What 19 year old can make the decision of what they want to be "when they grow up." Get the skill, then go to night school if so motivated. Going into debt for student loans with no guarantee of payoff is too much like playing a lottery.
@Christine Bamberger. I could not disagree more. As a recent college graduate, I just completed my fourth (nonpaid) internship, and, yes, some students may feel a position is "beneath" them, but from my experience, most undergrads leave these positions because they cannot continue to work for free. We have student loans. We have rent and bills. Not every undergrad mooches off mom and dad. And from my internship experiences (which were mostly in publications/broadcasting) staying longer than three months was not even an option. So, to say, "put up and shut up" assumes college grads take for granted their internships and simply do not care - which, for the most part, is far from true. It takes a lot of strength and courage from 21 and 22-year-olds to put themselves out there, initiating dialog with established professionals. Yes, some live in the comforting bubble of mom and dad's bank account and network, but that does not represent most students. Most are middle class and paying bills. And working for free sometimes is not an option.
I do not agree with the above comment. Many graduates have a great level of skill and have a lot to offer. Many internships offer little/no mentoring, and the level of skill required is equal to what is required of any regular paid position.
As a recent graduate with a BFA in graphic design, it took me 4 months to find full-time employment. The competition was extremely tough, and I found that many positions which should be entry-level were instead internships. There is no reason that an internship should be unpaid. I often found employers asking for a level of experience and skill that was not commensurate with pay and level of skill needed for the position. It is definitely an employers market!
After listening to a part of the discussion regarding the discouragement of today's grads in finding employment..... I really think they are spoiled.
I will be 55 next month and have worked mostly in the graphic arts field. I have had unscrupulous, toxic supervisors and held onto those jobs because even at the boon times in the 90's there were not a whole lot of alternatives.
The intern who is fed up with staying at the company because she thinks 3 months working for no pay is beneath her should think again. Most of the younger set do not know what it is like to deal with unfairness, or have any sort of patience. Jobs can be brutal, mean and horrible situations and I haven't heard from the people who put up with bullies for bosses or have their health compromised because it is the only means of making financial ends meet.
My advice for the young people--- treat the internship as a point of employment, get pissed after a year not 3 months. The year intern employment is thought of as a real job especially if the "employer" permits the intern responsibility.
Put up and shut up, kids!
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