New college grads head off into a more robust job market
Now that colleges have bid adieu to their latest crops of graduating seniors, the job market the grads face is the best in years, experts say.
The recession that hit when most of the class of 2015 was in high school is fading into the history books.
Employers across the U.S. said they expected to hire 9.6 percent more new grads than in 2014, according to a survey this spring by the National Association of Colleges and Employers (NACE). Optimism is especially strong here in the Northeast, where 18.1 percent of employers last fall — a busy recruiting season on campuses — said they expected to ramp up hiring of this year's graduates.
Also, about two-thirds of respondents to NACE's survey said they planned to increase starting salaries for hires fresh out of college. That's up from 59.1 percent last year, which was more than twice the 29.2 percent who said in 2010 they would bump up starting salaries. Also, more than half of employers said they planned to offer signing bonuses to 2015 grads.
It's part of an improving economic climate in the “real world,” which many say is looking good for those who have just left campus to take their place in it.
“We're definitely seeing the effects” of the improving economy,” said Nikki DiOrio, director of Assumption College's Career Development and Internship Center. “Employers are reaching out to us.”
Many of the Worcester liberal arts college's graduates — 29 percent last year — move on to graduate school right away. Others, meanwhile, were writing cover letters and resumes, interviewing, sharpening their skills, calming their nerves and otherwise seeking job offers before they graduated May 16.
In February, an Assumption career and internship fair was attended by some 60 local employers, DiOrio said. In 2014, there were 35.
Last month, the Worcester Regional Chamber of Commerce held its first Career Fair at Worcester Regional Airport, and it was also well attended by employers and job-seekers.
One local hirer that for several years has been “very actively recruiting” college grads is The Hanover Insurance Group, according to Christine Bilotti-Peterson, senior vice president and chief human resources officer at the Worcester-headquartered company. Hanover is fortunate in that Central Massachusetts' colleges and universities “offer a well-educated talent pipeline,” she said in an email.
Firm handshake, soft skills
But though statistics say it's easier to land a job now that in recent years, it's never easy for the students. Their sense of responsibility, knack for teamwork, intelligence, training, flexibility and respect for authority are all being tested as they seek and start their first jobs post-college.
It's hard work and anxiety-producing for students to take those first career steps, and it's a cautious move for employers, too.
Specifics of even the most technical and challenging position can often be learned on the job. But traits such as organization, dedication, flexibility and effective communication are less readily taught but are sought after.
Bilotti-Peterson bore that out. “When making decisions, we look for young professionals who are well-rounded, collaborative, and customer-focused,” she said.
NACE reported in its survey that the undergraduate majors of most interest to employers are business, especially finance and accounting; engineering; and computer and information sciences.
Humanities degrees still count
But humanities degrees still open many doors. “Humanities majors are fortunate in that they develop a lot of great, transferable skills that prepare them for the workplace,” DiOrio said. Whether to major in a STEM (science, technology, engineering or math) field or a humanities discipline such as English or history is often best answered by passion, interest and ability, she said.
“Our accounting students find a lot of success in the job market. Accounting is a great field to get into. It's not a career for everyone, though," DiOrio said. A humanities major might not have a budding accountant's skill set, she said, but can do very well on numerous other paths, including marketing and teaching.
Amy Murphy, director of career planning at Worcester's College of the Holy Cross, said she noticed this year more students seeking out and landing jobs in the technology sector. As liberal arts grads, she said in an email, most of those students were pursuing entry-level jobs on the business side of that innovative, fast-paced environment, and “they find their liberal arts background is the perfect complement to the technical and engineering backgrounds of their prospective colleagues.”
Whatever the major, and however complex the job description, certain core qualities are prized. ln NACE's November report, “Job Outlook 2015,” the top three attributes employers said they looked for in resumes were evidence of leadership, the ability to work in a team, and written communication skills. But NACE said the grades surveyed employers gave new graduate recruits on these skills weren't great: B+ in leadership, B in teamwork and B- in written communication skills.
There indeed seems to have been a “turn in the economy” easing the outlook for new graduates seeking jobs, according to Jillian Anderson, director of career services at Worcester State University. But make no mistake, she said: It's very competitive in Central Massachusetts. Good companies have good jobs to offer — and students from a dozen or so colleges close by to select them from.
“Networking and connecting mean a lot,” Anderson said. "Although this has always been true, this seems to be especially so in this connected world."
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