Here are some incredibly important stats that recent college grads should know to ensure that you put your career on the right path as your decisions today have a much bigger impact than you likely realize both in terms of what field you work in and your earning potential.
You hope to go into marketing. Numbers are important. So, let’s talk numbers.
94.3 % Of Our Students Get Marketing Interviews Or Job Offers Within 3 Weeks
of marketing or business grads are underemployed in their first job and the main reason is lack of work experience
47% of marketing or business grads are underemployed in their first job and the main reason is lack of work experience
A Major Concern
If you’re underemployed, that means you’re working at a job that doesn’t require a college degree, on average you’ll be earning $10,000 less per year than those who aren’t underemployed.
On average, you’ll work 40 hours per week which comes out to around 1,900 hours per year. Alright, now you really get my point about not settling for a career path you don’t really care for. Do what you need to do now so that you can get a job in marketing and spend these 1,900 hours per year doing something you actually care about.
2/3rds of new grads who were underemployed in their first job out of college remained underemployed 5 years later.
Be careful about settling for a job you aren’t super happy with rather than doing what it takes to get the work experience you need in order to land a job in the field you actually want. Remember, if you eventually want to get into marketing, and you’re working at a job that isn’t giving you work experience in Social Media, Email, PPC, and SEO Marketing, you’re never going to fix the problem that is keeping you from getting into marketing in the first place; getting the marketing work experience you need.
So be careful of falling into this trap as it’s far too common as you don’t want to look back in 2-3 years and realize that you’re on a career path that you never intended as it’s not easy to pivot and try to get into marketing after years of being away from it. I can’t emphasize enough how common of a problem this is for people. Don’t start settling now. You’ve worked way too hard to get to this point to start settling. Your future self will thank you for doing what you need to do now to spend a lifetime in a career you actually care about.
You need to take action now
According to the New York Times, college students who graduate into a recession like we have now have settled for lower-paying jobs at less prestigious companies than people who finished college even a year earlier. Economists have found that the impact of graduating during a recession like we have now can linger for as long as 10 or 15 years, leading to higher unemployment rates and lower salaries — a phenomenon known as “scarring.”
Don’t be another statistic. You were dealt a terrible hand in graduating at a horrible time. But, if you take action now and get the work experience you need, you can overcome this. As you know, work experience is by far the most important thing that hiring managers look at when determining who to interview and who to hire. At the end of the day, companies are going to hire the person with the most work experience 95% of the time because it’s the safest bet that they’ll be able to perform the job well since they have already done it in the past.
Furthermore, it means that the hiring manager won’t have to train the person as much which means they’ll be able to get back to their job rather than spending months training a new employee. Time is money. Companies want to hire people that can come in right away and start contributing. So, get the work experience you need asap so that graduating at a bad time doesn’t potentially impact you for many years to come.