nity and premier site for entry-level job seekers, encourages new grads to seek out the advice of their parents when searching for a job in today’s recession.
With more than 1.6 million college students projected to graduate in 2009, many will be disappointed to learn that employers anticipate hiring 22 percent fewer grads this year than last year, according to National Association of Colleges & Employers. In addition, bls.gov recently reported an unemployment rate of 14 percent for professionals between ages 20-24, which is the first time in over a quarter century it has topped 14 percent.
Not only is the unemployment rate on the rise, but salary expectations are continuing to fall. In Q1 2009, CollegeJobBank.com recognized a 3.1 percent decrease in salary expectations for candidates with less than one year of experience when compared to last year. With the increased quantity and quality of competition in the job market – including seasoned professionals willing to consider lower-level job offers – college grads are urged to shift expectations and be willing to accept a lower starting salary to accommodate the current market conditions.
“The Millennial generation is ambitious, confident, goal-oriented and typically not shy about exercising their independence,” says Rich Milgram, CEO of Beyond.com. “In today’s economy, it’s important that new grads remain realistic, patient and flexible in their job search and not be afraid to lean on their parents, who have experienced multiple economic downturns, for old-fashioned career advice.”
So what job search wisdom can college grads take from their parents?
• Be Willing to Work Your Way Up. Job seekers should keep an open mind when looking for their first job, and like the Boomer generation, be willing to work their way up. Although their education may be in a particular field, it is all about gaining work experience, so all industries should be considered. According to CollegeJobBank.com, the top industries hiring candidates with 0-3 years of experience in Q1 2009 were Healthcare, Sales, Hospitality and Customer Service.
• Consider Multiple Jobs. It may be necessary for new grads to take on multiple jobs to build experience and credibility on their resume, while supplementing their income during these tough economic times. Having a “go-getter” attitude is a key characteristic to attracting employers looking for hardworking candidates.
• Use “Old School” Methods. Job seekers should compliment their online job search by using a personalized and multi-faceted approach to finding a job. Old school methods include calling prospective employers, leveraging personal or family contacts, attending networking events and taking advantage of college resources.
•Take Responsibility. New grads who allow their parents to directly participate or interfere in their job search can give employers the wrong impression. It is acceptable to seek advice from parents, but it is ultimately the job seeker’s responsibility to create and build a successful career!
For additional career tips and resources, visit http://www.CollegeJobBank.com.
CollegeJobBank.com is the premier career destination for entry-level job seekers, providing access to the best job opportunities, professionals and resources available online. Our career search services and networking tools enable college graduates and employers to create targeted connections across more than 20 job sites. CollegeJobBank.com is a member of the Beyond.com Network, the world’s largest network of niche career communities. Beyond.com is a Safeguard Scientifics, Inc. (NYSE: SFE) partner company and Inc. 500 Award winner. Visit CollegeJobBank.com on Facebook.