by Mark Kaefer, Experience.com
In the midst of economic meltdown, where are the jobs? Surprisingly, they're still out there, if you know where to look. And there were a few surprises.
For the fourth year in a row, Experience, Inc. took the pulse of Gen Y'ers as they set out to find their first jobs after graduating from college. The 2008 Job Placement Survey, which ran from mid-May through September, polled close to 650 young professionals about the jobs they landed after graduation. The survey covered everything from job functions to industries and from salary range to reasons for taking the job in the first place. Given our current economic climate, and especially considering a related independent study also released recently, we've found some pretty interesting things.
2008's Big Five
Looking at job offers extended so far in 2008, we found that 10 industries that placed candidates represented nearly 60 percent of all industries still doing significant hiring. With some slight adjustments, three of this year's top five hiring industries (Education, Finance/Banking and Accounting) were also in the top five in our 2007 Job Placement Survey. In 2008, we've seen an increase in placement in the Technology and Health-Care verticals, as well as jobs at Non-Profits and in Government.
So what does all of this tell us? Well, let's put it this way: of the 650 Gen Y'ers polled, nearly a fifth of them took jobs in education. A substantial number of 20-somethings are teachers or hold related job roles in education. While it's been pretty much a given that finance/banking jobs no longer rule the sphere, these respondents' job placements have confirmed those trends -- and as a result, those candidates actively pursued jobs outside the finance and accounting industries and are looking into other sectors.
The numbers don't lie. Finance and banking opportunities for young talent are dwindling, and the market is only getting tighter for young grads.
Roles that Cross Industry Lines
When it comes to the roles that they play in different industries, new hires in 2008 topped the job functions list with Engineering at close to 9 percent. Following were Teaching/Education (8.3 percent), Accounting/Auditing (6 percent), Finance (5.9 percent) and Sales (5.2 percent). Analysts also appeared in the top 10, as did marketers, researchers, consultants and administrative staffers. Compared to last year, 2008's job functions signal a pretty drastic change, as the top two functions -- engineering and accounting -- each dropped in half, from 18.8 percent and 12 percent respectively.
Though employers are most definitely feeling the pinch all around, the glut of entry-level workers represents a tremendous opportunity for candidates willing to move beyond industry lines and pursue the best match possible for their specific job functions. In this competitive landscape, job seekers must consider branching out in new directions.
In the midst of economic meltdown, where are the jobs? Surprisingly, they're still out there, if you know where to look. And there were a few surprises.
For the fourth year in a row, Experience, Inc. took the pulse of Gen Y'ers as they set out to find their first jobs after graduating from college. The 2008 Job Placement Survey, which ran from mid-May through September, polled close to 650 young professionals about the jobs they landed after graduation. The survey covered everything from job functions to industries and from salary range to reasons for taking the job in the first place. Given our current economic climate, and especially considering a related independent study also released recently, we've found some pretty interesting things.
2008's Big Five
Looking at job offers extended so far in 2008, we found that 10 industries that placed candidates represented nearly 60 percent of all industries still doing significant hiring. With some slight adjustments, three of this year's top five hiring industries (Education, Finance/Banking and Accounting) were also in the top five in our 2007 Job Placement Survey. In 2008, we've seen an increase in placement in the Technology and Health-Care verticals, as well as jobs at Non-Profits and in Government.
So what does all of this tell us? Well, let's put it this way: of the 650 Gen Y'ers polled, nearly a fifth of them took jobs in education. A substantial number of 20-somethings are teachers or hold related job roles in education. While it's been pretty much a given that finance/banking jobs no longer rule the sphere, these respondents' job placements have confirmed those trends -- and as a result, those candidates actively pursued jobs outside the finance and accounting industries and are looking into other sectors.
The numbers don't lie. Finance and banking opportunities for young talent are dwindling, and the market is only getting tighter for young grads.
Roles that Cross Industry Lines
When it comes to the roles that they play in different industries, new hires in 2008 topped the job functions list with Engineering at close to 9 percent. Following were Teaching/Education (8.3 percent), Accounting/Auditing (6 percent), Finance (5.9 percent) and Sales (5.2 percent). Analysts also appeared in the top 10, as did marketers, researchers, consultants and administrative staffers. Compared to last year, 2008's job functions signal a pretty drastic change, as the top two functions -- engineering and accounting -- each dropped in half, from 18.8 percent and 12 percent respectively.
Though employers are most definitely feeling the pinch all around, the glut of entry-level workers represents a tremendous opportunity for candidates willing to move beyond industry lines and pursue the best match possible for their specific job functions. In this competitive landscape, job seekers must consider branching out in new directions.
Job Info , Jobs Sources , Employment
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