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☆ New college graduates are stepping into a tougher job market. It could set their earnings back for years.
▼ + stars: | 2024-06-15 | by ( Jacob Zinkula | Andy Kiersz | ) www.businessinsider.com time to read: +9 min

New college graduates are having a harder time finding work, and as a result, some of them could see their careers and earnings take a hit for years. Meaning that recent college graduates have been more likely to be unemployed than the broader population. This new normal has worked out OK for some Americans, but it's been particularly tough on new college graduates. While the tough job market could temporarily hurt some young graduates' earnings, there's reason to be optimistic that their finances could eventually recover. But if the job market continues to prove frustrating, some of them may begin to wonder.

Persons: Lohanny Santos couldn't, Zer, Santos isn't, overqualified, millennials, Gen Zers aren't, Julia Pollak, ZipRecruiter, it's, — aren't, they'd, —, grads —, Goldman Sachs, Elise Peng, Louis, who's Organizations: Service, Business, New York Fed, NY Fed, Meta, Rice University's, Bloomberg, LinkedIn, National Association of Colleges, Glass Institute, Strada Education Foundation, Federal, Louis Fed

☆ The 'promised land' of stable, high-paying jobs for recent grads is falling apart
▼ + stars: | 2024-06-04 | by ( Shubhangi Goel | ) www.businessinsider.com time to read: +10 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Austin Wang, a class-of-2025 computer-science major at Yale University, said students were "scared that engineering roles will be replaced in the future." Handshake found that fewer prospective business graduates were applying to consulting roles and that more were seeking positions in customer relations, marketing, and analytics compared with last year. Handshake's analysis suggested tech job postings geared toward fresh graduates fell by 30% compared with last year. Advertisement"It's quite bad for entry-level jobs in general but even worse for international students," she said.

Persons: —, It's, Goldman Sachs, Morgan Stanley, Austin Wang, Fabrice Coffrini, Beth Hendler, Matthew Park, Anika Nair, Rutgers University . Austin Wang, Anika Nair Yale's Wang, Wang, Amr Alfiky, you'll, Adnan Hussain, Christine Cruzvergara, Richard Carruthers, I've Organizations: Service, Management, Big Tech, National Association of Colleges, Employers, Business, New York Times, Yale University, McKinsey & Company, Boston Consulting Group, Bain & Company, Accenture, McKinsey, Getty Images Industry, Yale, Tech, Companies, Ivy League, Rutgers University ., Rutgers University, JPMorgan —, Investment, Citigroup, JPMorgan, Deutsche Bank, Finance, Reuters, National University of Singapore, Imperial College London, KPMG, Deloitte, HSBC, Amazon Web Services Locations: Wall, AFP, Singapore

☆ Grads with these 10 master's degrees have the highest average starting salaries—No. 1 earns over $100,000
▼ + stars: | 2024-05-30 | by ( Kamaron Mcnair | In Kamaronmcnair | ) www.cnbc.com time to read: +3 min

Federal graduate school loans are more expensive, too, with higher interest rates than loans for undergraduate studies. On top of that, 55% of master's degree-holders have debt from both their undergraduate and graduate studies, owing an average total of over $69,000. Similar to undergraduate degrees, science, technology, engineering and math-related master's degrees tend to lead to higher-paying salaries compared with degrees in the arts and humanities. That said, these are the 10 master's degrees with the highest average starting salaries for the class of 2022, according to the National Association of Colleges and Employers. In fact, fewer than 60% of master's degree programs deliver a positive return on investment, according to a recent study by The Foundation for Research on Equal Opportunity.

Persons: FREOPP Organizations: Bureau of Labor Statistics, National Center for Education Statistics, Federal, National Association of Colleges, Computer, Liberal, The Foundation, Research, Education's, CNBC

☆ The class of 2024 is facing a tough job market. Here’s who’s hiring, according to LinkedIn
▼ + stars: | 2024-05-17 | by ( Morgan Smith | ) www.cnbc.com time to read: +4 min

The class of 2024 is facing a tough job market. Hiring has slowed across the U.S., and entry-level jobs are getting more competitive in the wake of white-collar layoffs. Tai Walker, a senior at William Paterson University in Wayne, New Jersey, started her job search in March 2024 and has submitted over 100 applications. Walker says she's researching artificial intelligence and other tech boot camps to broaden her skill set and increase her job prospects. Even though some entry-level jobs have gotten harder to land, industries experiencing staffing shortages like education and construction are still hiring new college grads.

Persons: Tai Walker, Walker, who's, She's, Harry Holzer, Kory Kantenga, Kantenga, —, you've Organizations: William Paterson University, CNBC, Georgetown University, Labor Department, Employers, National Association of Colleges, LinkedIn, Education, Financial, Investment, Tech, Health, Kantenga Locations: U.S, Wayne , New Jersey, Americas

☆ Costa Rica, Greece and 42 other countries with a digital nomad visa—the U.S. isn't one of them
▼ + stars: | 2024-05-14 | by ( Celia Fernandez | ) www.cnbc.com time to read: +2 min

Still, it is harder for workers to find new jobs, which could be especially tough on recent college graduates. A digital nomad visa is a short-term permit that allows someone to stay in a country for an extended period of time and work remotely. The length of time a nomad can stay varies from place to place but most countries allow for six months to a year. The United States does not have a digital nomad visa, but does offer other visa options that might allow for someone to work in the country as a freelancer. As of May 2024, the following countries are offering digital nomad visas or similar schemes geared toward bringing in remote workers.

Persons: Vicki Salemi, Salemi Organizations: National Association of Colleges, Employers, CNBC Locations: Costa Rica, Greece, American, United States

☆ How new grads can land a job after college, even as employers cut back on Class of 2024 hires
▼ + stars: | 2024-05-13 | by ( Jessica Dickler | ) www.cnbc.com time to read: +2 min

Those armed with a newly minted diploma are entering a job market that looks a little less promising than it did one year ago. Employers plan to hire about 5.8% fewer new college graduates from this year's class than they hired from the Class of 2023, according to a report from the National Association of Colleges and Employers. Some companies, in industries such as chemical manufacturing, finance, insurance and real estate, have pulled back after scaling up last year, according to NACE. However, there are still pockets of growth, mainly in miscellaneous manufacturing, utilities and professional services, NACE also found. "In terms of the quality and quantity, they can pursue jobs beyond the constraints of a particular zip code," Salemi said.

Persons: NACE, Vicki Salemi, Salemi Organizations: National Association of Colleges, Employers, Finance

☆ How to get a summer internship: a 5-step guide to landing your dream position as a college student
▼ + stars: | 2023-11-30 | by ( Ella Hopkins | ) www.businessinsider.com time to read: +4 min

Landing an internship in college can help you get ahead of your peers when you graduate. But knowing how to gain the skills employers want without having experience in the workplace can be difficult. Don't always focus on the largest companiesMany college students prioritize internships at big companies that pay the most, but that isn't always the best way to gain experience, Palomaki said. Research the skills employers wantIt's worth spending time researching the skills employers are looking for, Palomaki said. "You have to be able to justify why your skills are relevant for the position that you're applying for," he said.

Persons: Lasse Palomaki, isn't, Palomaki, I'm, I've, who've, It's, it's Organizations: Business, University of South, University of North, National Association of Colleges, Employers, hustles Locations: University of South Florida, University of North Carolina, Greensboro

☆ Working 9 to 5, Hopefully
▼ + stars: | 2023-07-19 | by ( Julia Rothman | Shaina Feinberg | ) www.nytimes.com time to read: 1 min

Julia Rothman andJuly 19, 2023ImageThere’s good news for recent college graduates: The labor market is strong, unemployment is low and, according to a survey by the National Association of Colleges and Employers, businesses are expecting to hire almost 4 percent more graduates from the class of 2023 than they did from the previous class. The bad news? For most of them, all four years of college were tainted by a global pandemic, and now they have to transition from student life to the world of work. Which is never easy. We interviewed 17 graduates from different majors and parts of the country about how they’re feeling as they enter the work force.

Persons: Julia Rothman Organizations: National Association of Colleges, Employers

☆ The AI boom is screwing over Gen Z
▼ + stars: | 2023-07-17 | by ( Ed Zitron | ) www.businessinsider.com time to read: +13 min

Now, with the advent of generative AI, organizations are starting to automate many "junior" tasks — stripping away their dubious last attempt to "teach" young employees. America's young workers are headed toward a career calamity. Nobody wants to teach anymoreEven before the rise of AI, young people were facing an early-career crisis. This lack of care is clearly weighing on the young workers who need career development the most. Humans can be enhanced by AI, helped by AI, but replacing them with AI is a shortsighted decision made by myopic bean counters who can't see the value in a person.

Persons: there's, Gen, Gen Zers, it's, Gen Z, Louis, Zers, millennials, Peter Cappelli, Capelli, Paul Osterman, they'd, Osterman, they'll, ChatGPT, Qualtrics, What's, they're, Ulrich Atz, Tensie Whelan, New York University's, Atz, Whelan, —, There's, Knight, It's, Ed Zitron Organizations: Management, Federal Reserve Bank of St, National Association of Colleges, Employers, University of Pennsylvania's Wharton School of Business, US Department of Labor, MIT, Pew Research Center, National Bureau of Economic Research, Gallup, Workplace Intelligence, Amazon, Boston Consulting Group, New York, New York University's Stern Center, Sustainable Business Locations: America, New, Fortune

☆ Bosses want people in the office. The class of 2023 is ready.
▼ + stars: | 2023-05-21 | by ( Ethan Dodd | Madison Hoff | ) www.businessinsider.com time to read: +8 min

Surveys show Gen Z and class of 2023 graduates want an in-person experience. In-person work can provide young workers with community, keep them engaged, and enhance their early workplace learning. Not so with Gen Z and the class of 2023. This generation wants the community, learning opportunities, and engagement that in-person work can provide — although some young professionals aren't a fan of in-office roles and prefer remote work. "Especially for new grads, they should balance the flexibility that they have for remote work and finding new opportunities with some of the benefits of in-person work," Pardue said.

☆ New college graduates are overestimating their starting salaries by $30,000, report finds
▼ + stars: | 2023-05-09 | by ( Jessica Dickler | ) www.cnbc.com time to read: +1 min

The disconnect between perception and reality only worsens over time: A decade into their careers, students anticipate making more than $204,560. That's well over the average mid-career salary of $98,647, according to Glassdoor. Hiring outlook for the Class of 2023A City College of New York graduate takes a selfie during the commencement ceremony. "A lot of our students have a job heading into graduation," Grubb said. They just won't necessarily be paid more than last year's graduating class.

The young entrepreneur made waves as a teenager by scoring over $2 million in college scholarships, which allowed her to graduate debt-free from Princeton University in 2022. Through brand deals, digital products and private consultations, her business, Growing With Gabby, earned $177,000 in 2022. Gabby Carter, 22, earned $133,000 last year from her corporate job and her business, Growing with Gabby. But throughout high school and during college, she won 35 different scholarship awards totaling over $2 million — enough to graduate debt-free and with over $100,000 in savings. "That made people very curious about how I was able to have scholarship success."

☆ How new grads can better their odds of landing a job even as employers cut back on college hires
▼ + stars: | 2023-04-19 | by ( Jessica Dickler | ) www.cnbc.com time to read: +1 min

The outlook for newly minted graduates doesn't look as good as it once did. Employers plan to hire about 4% more new college graduates from this year's class than they hired from the Class of 2022, according to a report from the National Association of Colleges and Employers. However, that's down significantly from earlier projections: In the fall, employers said they would boost hiring roughly 15% year over year. As those layoffs mount, job openings have also begun to fall. "We know companies are approaching 2023 with caution, though the economy is still creating jobs," said Andrew Challenger, senior vice president of Challenger, Gray & Christmas.

☆ Class of 2023 rejoice: Companies are ramping up hiring of new college grads as experienced workers are harder to find amid the labor shortage
▼ + stars: | 2022-11-06 | by ( Juliana Kaplan | Madison Hoff | ) www.businessinsider.com time to read: +9 min

The labor market is still tight, but employers are ready to hire from the pool of new college graduates. NACE found that respondents plan to hire 14.7% more 2023 graduates compared to the class of 2022. That's good news for workers, especially recent college graduates. "For instance, in many cases it costs less to hire a recent college graduate compared to a mid-career or senior-level professional." But it noted "only 6% expect to cut back on hiring new college graduates."

☆ College Seniors Can Expect Lots of Job Offers Next Spring: Survey
▼ + stars: | 2022-10-26 | by ( Lindsay Ellis | ) www.wsj.com time to read: 1 min

The prospect of a recession hasn’t dulled many businesses’ enthusiasm for new college graduates. Companies plan to step up college hiring next year, according to a survey from the National Association of Colleges and Employers that tends to be an early forecast for the spring hiring season. The findings suggest the Class of 2023 may graduate into a job market as robust as the one for this year’s grads.

☆ Companies Plan to Boost College Grad Hiring in 2023
▼ + stars: | 2022-10-26 | by ( Lindsay Ellis | ) www.wsj.com time to read: 1 min

☆ These 5 MBA programs have the highest average starting salaries for graduates
▼ + stars: | 2022-10-10 | by ( Celia Fernandez | ) www.cnbc.com time to read: +1 min

According to the Graduate Management Admissions Council (GMAC), many MBA graduates land starting base salaries nearly triple that of those who only have a bachelor's degree. The average salary for the class of 2021 bachelor's degree graduates was $55,911, according to the National Association of Colleges and Employers. On the other hand, Payscale data shows that for MBA graduates in the U.S., the average base salary is $92,000. Fortune ranked the top five full-time, in-person MBA programs in the U.S. out of the 69 programs that participated in their survey. California's Stanford Graduate School of Business landed the top spot on the list.

High-profile hiring freezes in the tech industry raised alarms about the health of the job market. But career counselors at universities nationwide insist grads are still getting hired. For many new college grads, the summer's hazy afterglow of no more studying, exams, or group projects is counterbalanced with the pressure of the all-important job search. Insider interviewed a dozen college career counselors and undergraduate professors to get their takes on how the job market is holding up for recent grads. And amid volatility in the stock market, industry experts have predicted that layoffs are likely for some investment bankers.

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