ZipRecruiter Finds Class of 2023 Grads Feel Prepared For Entry into Labor Market
May 03 2023 - 11:00AM
Business Wire
Large majority of grads are actively seeking
employment, have been recruited, and have already had 9 job
interviews
ZipRecruiter®, a leading online employment marketplace, today
released its second annual grad report, The Class of 2023: A Story
of Resilience, revealing that more than two-thirds of the
graduating class feel they are very prepared (69%) for the current
labor market. The majority of graduates (92%) started actively
applying for jobs as of early April and 85% said they have already
been recruited. With an average of nine job interviews under their
belts, they are well on their way to success in the job market.
“The way companies work is changing at a blistering pace. In
this dynamic environment, employers are putting a premium on
trainability and soft skills,” said Ian Siegel, ZipRecruiter
Co-Founder and CEO. “New grads are well positioned to succeed in
the first step of their professional lives as they look ahead to a
career defined by continuous learning. Setting any short-term
macroeconomic uncertainty aside, the optimism new graduates feel
about their career prospects is well founded.”
While the Class of 2023 began their college careers during the
pandemic, they overcame many obstacles and forged ahead to
graduation. More than one in five (21%) said that the pandemic led
them to study science, healthcare, or public health. As graduation
approaches and uncertainty in the labor market increases, grads
continue to adapt with the numbers showing resilience. 70% of
graduating seniors say they plan to have a full-time job in the
coming year. As the graduating class launches into the next chapter
of their life, graduates plan to offset current inflation by taking
on a ‘side hustle’ (9 in 10 grads), moving to a more economically
friendly city, living with their families, or finding a
roommate.
“In an economy defined by a constant drumbeat of disruptive
innovations, new graduates are less likely to have predictable and
linear careers. Embracing change and remaining open to new
opportunities is critical in the near term labor market,” added
Siegel.
Report highlights include:
- Graduating seniors have high wage expectations. Women
expect to earn $69,200 and men $71,900 per year on average.
Students with the same college major expect to earn equally across
genders.
- Remote and hybrid work is of heightened interest. Having
lived through a transformative shift towards more flexible work
arrangements, 44% of grads want a hybrid work arrangement, 33% want
to be fully remote, and only 23% want to work in an office or
workplace every day.
- Most graduating seniors already have work experience and are
adept at juggling. 97% of graduating seniors said they worked
for pay during college with 83% juggling multiple roles at some
point during their college career. From gig work (49%) to
participation in work-study programs (43%) and paid internships
(34%), most seniors appreciated gaining work experience.
- Internships are going strong for college students. The
vast majority of graduating seniors (86%) said they had an
internship at some point during their college tenure, giving them
an opportunity to practice what they’ve learned in their studies
(42%), learn new skills (37%), discover career interests (36%), and
even land a full-time position (24%).
- Almost all graduating seniors believe going to college was
worth it. While many Americans are skeptical about the value of
a college degree, 98% of the 2023 graduating class said they
believe going to college was worth it after attending.
- Generative AI is driving optimism, not fear. Graduating
seniors were more optimistic than worried about Generative AI like
ChatGPT. 51% said they expect it to create more, higher-paying jobs
in their occupation; 23% said they expected no impact on their job;
and 29% said they worry ChatGPT could eliminate a future job.
To view the full report, including additional data insights and
methodology, please visit:
https://www.ziprecruiter.com/grad-report
ABOUT ZIPRECRUITER
ZipRecruiter® (www.ziprecruiter.com) is a leading online
employment marketplace that actively connects people to their next
great opportunity. ZipRecruiter’s powerful matching technology
improves the job search experience for job seekers and helps
businesses of all sizes find and hire the right candidates quickly.
ZipRecruiter has been the #1 rated job search app on iOS &
Android for the past six years1 and is rated the #1 employment job
site by G2.2
Visit us at ZipRecruiter.com and ZipRecruiter.com/blog.
1 Based on job seeker app ratings, during the period of January
2017 to January 2023 from AppFollow for ZipRecruiter,
CareerBuilder, Glassdoor, Indeed, LinkedIn, and Monster. 2 Based on
G2 satisfaction ratings as of December 13, 2022.
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