A Tough Job Market for College Graduates - But Not Impossible
Article Summary: College graduates who enter the job market in 2009 and 2010 must compete with an unprecedented number of unemployed Americans with more on-the-job experience. Here are some tips for overcoming this challenge.
College graduates have always faced certain challenges when entering the job market for the first time. A lack of experience resulting from the time spent in college is the first thing that comes to mind. But for the rest of 2009 and well into 2010, college students will face another big challenge -- the job market is flooded with unemployed but highly experienced candidates.
The first step to success is understanding just how competitive the job market will be for recent college graduates (and anyone else seeking employment, for that matter). So allow me to present some downright startling statistics.
According to the Bureau of Labor and Statistics, mass layoffs led to more than 500,000 separations. In other words, half a million workers with some degree of on-the-job experience flooded the job market at the end of 2008 and beginning of 2009.
In November of 2008, the unemployment rate in the U.S. was 6.7%, which was the highest number in more than fifteen years. But it has only risen since then. In January of this year, the nationwide unemployment rate had reached 7.6%, and it's expected to continue rising through the rest of 2009.
What does all of this mean for recent college graduates and those who will graduate this year? It means this: College graduates entering the job market in 2009 and early 2010 will face more competition than we've seen since the Great Depression.
Did I get your attention with that last statement? Good. That was my intention. In fact, that's the whole point of this blog host -- to give you a realistic view of the current job market and how it might affect you. But you don't have to be frightened by these statistics. You just need to understand them, and you need to realize that you'll have to go above and beyond if you want to land a good job in 2009.
So, what can you do to increase your chances of finding a job in a highly competitive job market flooded with experienced workers. It's a big challenge, for sure, but there are certain things you can do to tip the scales in your favor.
1. Be Willing to Settle for Less
This is the best piece of advice I can offer to recent graduates who are entering the job market. If you're expecting to wave your diploma in the air and have people offering you management jobs, you'll probably be disappointed. Why? Because in 2009 and 2010 you'll be competing with legions of job seekers who have advanced education and real-world experience. The economy will make sure of this.
So the first thing you need to do is enter the job market with realistic expectations. I'm not telling you to aim low in your job search -- not at all. I'm telling you to realize what you're up against, and to be open to a wide variety of opportunities. This is not the kind of job market where you should pass up an opportunity just because it's not your dream job. The next opportunity might not come for a long time. If you have student loans and credit card debts to pay off, this is even more important.
2. Leverage Your Network
As a recent college graduate, you may not have an extensive network of business contacts. But you still have a network of friends and family, and many graduates before you have found jobs by tapping into this network. Here are some tips for using your network effectively. In this kind of job market, you need every advantage you can find, and this includes your personal contacts and family members. You never know who has useful connections until you ask. So put your pride aside and ask for help.
3. Be Flexible With Your Location
Some cities have been hit worse by layoffs and unemployment than other. So depending on where you live, you may want to seek work in a nearby city or even out of state. For example, a recent graduate from Wayne State University in Detroit might want to look for a job outside of that city. With the car company layoffs, there's even more competition for job seekers there.
With this being said, you have a better statistical chance of getting a job if you apply for positions where you currently reside. Applying for jobs out of state (or even out of driving distance) is much harder, because you can't just pop in for an interview at the employer's convenience. Take it from me -- some hiring managers won't even look at a resume that's not from a local resident, and for this very reason. So start local, focus on the places where you'd like to live, but be flexible and willing to go where the work is.
4. Limit Your Living Expenses
You've just graduated from college, and now you're excited to strike out on your own and make your own living. I know how you feel. I've been there. But before you plop down a deposit for the high-priced apartment, consider how it affects your job search process. The more bills and living expenses you pile up, the higher the salary you'll need to cover them. And the higher you go up the pay scale, the fewer jobs there are. Living with the parents might not be the cool thing to do, but it could save you a lot in the way of monthly expenses. That is, if they'll even let you back in! :-)
5. Go Above and Beyond to Distinguish Yourself
When there's a lot of people competing for a limited number of jobs, you have to work harder to set yourself apart. You can do this in many ways, and it doesn't always come down to past work experience. For example, a marketing / advertising major who is looking for a job in that field could set up a creative website where they "sell" themselves as a product. I once created a website called HireBrandon2007.com, and it helped me land a job with a direct marketing company.
You should also tailor your resume for each job posting. This allows you to prioritize certain skills and credentials to make your resume more relevant for the position being advertised. Here are some more tips for going above and beyond to find a job in this tough market we are in. This one is a must-read for college graduates, so be sure to check it out.
6. Communicate Better Than Your Competitors
I've hired for several entry-level positions in the past, which means I've screened a lot of recent college graduates who were entering the job market for the first time. More often than not, I was appalled by their lack of basic communication skills. I won't theorize on how instant messaging has eroded communication (that's another article entirely), but I will say this. The few applicants who know how to write a polished email and communicate well on the phone really stood out. I often hired them over equally qualified candidates for this very reason.
You'd be surprised how much communications skills can help when you're applying for a job. In the past, I would check resumes simply to ensure the person had the basic skills needed to get started. Then I would used the initial phone call and the interview to assess their communication skills, enthusiasm, etc. I have turned down qualified applicants who could not communicate well, and I have hired barely qualified applicants who were great speakers and writers. A lot of hiring managers feel the same way about this.
It's a tough job market for college graduates right now, and it will be for some time. There's no doubt about that. But this doesn't make it impossible to find a good job -- it just makes it harder. Your first step is to accept the reality of this situation. If you can face the facts about the challenges before you, you'll be more inclined to meet that challenge head-on, and this is exactly what you must do. Follow the advice offered in this article, and across this blog in general, and stick to our guns. You'll find a job soon enough.
Learn More: This blog post is part of an ongoing series of lessons. Visit the table of contents page to get more tips on finding a job.
College graduates have always faced certain challenges when entering the job market for the first time. A lack of experience resulting from the time spent in college is the first thing that comes to mind. But for the rest of 2009 and well into 2010, college students will face another big challenge -- the job market is flooded with unemployed but highly experienced candidates.
The first step to success is understanding just how competitive the job market will be for recent college graduates (and anyone else seeking employment, for that matter). So allow me to present some downright startling statistics.
Job Market Snapshot
According to the Bureau of Labor and Statistics, mass layoffs led to more than 500,000 separations. In other words, half a million workers with some degree of on-the-job experience flooded the job market at the end of 2008 and beginning of 2009.
In November of 2008, the unemployment rate in the U.S. was 6.7%, which was the highest number in more than fifteen years. But it has only risen since then. In January of this year, the nationwide unemployment rate had reached 7.6%, and it's expected to continue rising through the rest of 2009.
What does all of this mean for recent college graduates and those who will graduate this year? It means this: College graduates entering the job market in 2009 and early 2010 will face more competition than we've seen since the Great Depression.
Did I get your attention with that last statement? Good. That was my intention. In fact, that's the whole point of this blog host -- to give you a realistic view of the current job market and how it might affect you. But you don't have to be frightened by these statistics. You just need to understand them, and you need to realize that you'll have to go above and beyond if you want to land a good job in 2009.
Advice for College Graduates
So, what can you do to increase your chances of finding a job in a highly competitive job market flooded with experienced workers. It's a big challenge, for sure, but there are certain things you can do to tip the scales in your favor.
1. Be Willing to Settle for Less
This is the best piece of advice I can offer to recent graduates who are entering the job market. If you're expecting to wave your diploma in the air and have people offering you management jobs, you'll probably be disappointed. Why? Because in 2009 and 2010 you'll be competing with legions of job seekers who have advanced education and real-world experience. The economy will make sure of this.
So the first thing you need to do is enter the job market with realistic expectations. I'm not telling you to aim low in your job search -- not at all. I'm telling you to realize what you're up against, and to be open to a wide variety of opportunities. This is not the kind of job market where you should pass up an opportunity just because it's not your dream job. The next opportunity might not come for a long time. If you have student loans and credit card debts to pay off, this is even more important.
2. Leverage Your Network
As a recent college graduate, you may not have an extensive network of business contacts. But you still have a network of friends and family, and many graduates before you have found jobs by tapping into this network. Here are some tips for using your network effectively. In this kind of job market, you need every advantage you can find, and this includes your personal contacts and family members. You never know who has useful connections until you ask. So put your pride aside and ask for help.
3. Be Flexible With Your Location
Some cities have been hit worse by layoffs and unemployment than other. So depending on where you live, you may want to seek work in a nearby city or even out of state. For example, a recent graduate from Wayne State University in Detroit might want to look for a job outside of that city. With the car company layoffs, there's even more competition for job seekers there.
With this being said, you have a better statistical chance of getting a job if you apply for positions where you currently reside. Applying for jobs out of state (or even out of driving distance) is much harder, because you can't just pop in for an interview at the employer's convenience. Take it from me -- some hiring managers won't even look at a resume that's not from a local resident, and for this very reason. So start local, focus on the places where you'd like to live, but be flexible and willing to go where the work is.
4. Limit Your Living Expenses
You've just graduated from college, and now you're excited to strike out on your own and make your own living. I know how you feel. I've been there. But before you plop down a deposit for the high-priced apartment, consider how it affects your job search process. The more bills and living expenses you pile up, the higher the salary you'll need to cover them. And the higher you go up the pay scale, the fewer jobs there are. Living with the parents might not be the cool thing to do, but it could save you a lot in the way of monthly expenses. That is, if they'll even let you back in! :-)
5. Go Above and Beyond to Distinguish Yourself
When there's a lot of people competing for a limited number of jobs, you have to work harder to set yourself apart. You can do this in many ways, and it doesn't always come down to past work experience. For example, a marketing / advertising major who is looking for a job in that field could set up a creative website where they "sell" themselves as a product. I once created a website called HireBrandon2007.com, and it helped me land a job with a direct marketing company.
You should also tailor your resume for each job posting. This allows you to prioritize certain skills and credentials to make your resume more relevant for the position being advertised. Here are some more tips for going above and beyond to find a job in this tough market we are in. This one is a must-read for college graduates, so be sure to check it out.
6. Communicate Better Than Your Competitors
I've hired for several entry-level positions in the past, which means I've screened a lot of recent college graduates who were entering the job market for the first time. More often than not, I was appalled by their lack of basic communication skills. I won't theorize on how instant messaging has eroded communication (that's another article entirely), but I will say this. The few applicants who know how to write a polished email and communicate well on the phone really stood out. I often hired them over equally qualified candidates for this very reason.
You'd be surprised how much communications skills can help when you're applying for a job. In the past, I would check resumes simply to ensure the person had the basic skills needed to get started. Then I would used the initial phone call and the interview to assess their communication skills, enthusiasm, etc. I have turned down qualified applicants who could not communicate well, and I have hired barely qualified applicants who were great speakers and writers. A lot of hiring managers feel the same way about this.
Conclusion and Going Forward
It's a tough job market for college graduates right now, and it will be for some time. There's no doubt about that. But this doesn't make it impossible to find a good job -- it just makes it harder. Your first step is to accept the reality of this situation. If you can face the facts about the challenges before you, you'll be more inclined to meet that challenge head-on, and this is exactly what you must do. Follow the advice offered in this article, and across this blog in general, and stick to our guns. You'll find a job soon enough.
Learn More: This blog post is part of an ongoing series of lessons. Visit the table of contents page to get more tips on finding a job.
Labels: economy
posted by Brandon at
9:02 AM
Brandon Cornett is a former hiring manager with a lot of experience screening job applicants. So listen!