Job Market for College Graduates
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Once the cap and gown come off, in the dream world of a college student, it is time to put your knowledge to the test, drop the student title, secure the perfect job, make money, and continue living your life as if set backs didn’t exist. It all sounds like a piece of cake until the reality of the real world hits and you realize the dire recession that we are dealing with in today’s economy. The current economic condition makes it difficult to find employment especially in your field or degree of choice. Research shows that over the past decade the percentage of unemployment directly out of college has dramatically increased. A Northeastern University study shows that 53.6 percent of new graduates with a bachelor’s degree will be jobless or underemployed. Just 12 years ago that percentage of 53.6 was only 41 percent, concluding that in the past 12 years the percentage has increased over 12 percent. Those college graduates that are among that 53.6 percent are looking to find work where they can use their knowledge and expertise to benefit their future. Due to the ups and downs in today’s job market, the key to success is planning ahead. Mapping out the earnings that you will potentially be capable of with your degree, finding the right location, and choosing a field of study that is best preparation for entering today’s job market.
Many graduates today are wondering if a BA is enough. Gabby Hyman writer for WorldWideLearn.com reports that graduates are finding themselves dissatisfied with the job prospects even with their Bachelors degree. Even if it is their area of expertise, often the pay cannot keep up with the inflation of living costs and student loans, consequently and have made the choice to return to school to earn a masters degree with a different subject that has potential to pay more. The Washington Post reports, “Job satisfaction dropped from 69 percent to 61 percent in a one-year period. Educated workers are accepting jobs they really don't want just to pay the bills.” The job market today is causing people to question whether or not what they have been working towards in an undergraduate program is enough; therefore going directly into graduate school gives better opportunity on making money than trying to join the workforce.
Trying to find a location with a low unemployment rate might be the push to get you started in the right direction towards finding an entry- level job. According to Monster.com, Austin, Texas has the lowest unemployment rate amongst the top 25 cities for finding your entry-level job right out of college. Austin may not be the ideal place to live for some, but Monster.com also lists off 24 other cities that can help lead new graduates into finding the right fit for a job.
The right degree for today’s job market all depends on how much money you want to make, how hard you are willing to work, how long you’re willing to be in school, and pay for or accumulate in loans. Catherine Rampell, writer for the New York Times, reported Andrew Sum, a labor economist at Northeastern University and leading expert on the youth labor market, has analyzed the resulting answers, and then looked at what types of jobs graduates of each major held. According to his statistics Education/teaching had a percentage of 71.1 percent in which a bachelors degree is a prerequisite but this does not come off as a surprise due to the fact that most of these graduates will become teachers.
Catherine Rampell reports, “Part of the reason people go to college is to get better jobs. It is by no means the only reason, of course; a liberal arts education can enrich a person’s life in ways besides better employment. But better employment is surely one of the crucial goals, and jobs that require college degrees generally pay better than jobs that don’t.” Once the cap and gown comes off, it is time to face the job market head on and know that we are not in a dream world and that the job market for college graduate students is an endless battle. Which may take a change in location, education level, or change in field to overcome expectations.
</br>Robert Boroff Executive Profile Managing Director Reaction Search International
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