Recently in an written in the LA TIMES revealed the importance of finding the “right” job out of college.
The environment and situation for new college graduates have changed dramatically from 20 years ago. New grads have multiple things to worry about: high student loan debt, increased competition and an higher skill expectations. Employers are becoming more reluctant to train new employee due to an increasing minimum wage. New online platforms are giving ambitious students to acquire specialized skillsets, but not all have the financials or time to commit. Due to this landscape many new grads are becoming underemployed – working in jobs that don’t require a college degree, according to March numbers from the Federal Reserve Bank of New York
43% of new grads are working at jobs that don’t require a college degree. Findings have shown that two thirds of graduates who are underemployed are working at the same job 5 years later. Conversely only 13% of new graduates who found a college-graduate-level job we’re reported underemployed according to Burning Glass Technologies, a labor market analytics company, and the nonprofit Strada Institute for the Future of Work.
Although working to pay off debt might be extremely important for new grads, finding the right fit could make a 10K on their next subsequent job. Taking an office job with slightly lower pay to gain the experience seems to pay off in the long run.
The report suggest for college students to start planning their careers earlier and take “microinternships”: small contract based internships that are paid and done remotely. For the complete article please see the link below.