Entry-Level Workers Head into a Mixed Market

Apr 03, 2007

A new report sheds light on a tight entry-level market with little hope for improved wages for recent college graduates, almost half of whom expect to move back in with their parents to make ends meet.

Signifying a confident incoming workforce, 89 percent of prospective graduates said that they expect to receive at least one job offer when they graduate, while 74 percent expect two or more offers, which is 10 percent more than last year, according to a new entry-level job report.

The report, published on April 2 by New York-based career Web site Monster.com, notes a heightened competitive note in the beginners' job market as, on average, employers anticipated receiving 73 applications for each entry-level position.

Yet, employers also spoke to a healthier job market, as 76 percent plan to hire 2007 graduates in the spring or summer, up from 72 percent last year. Thirty-eight percent expect to recruit more entry-level workers than they did in 2006.

In less promising news, 63 percent of employers surveyed indicated 2007 entry-level wages would not increase over last year's earnings.

"This year's survey demonstrates that while demand for talent is on the rise, employers remain confident they will have a large number of candidates to consider for each open position," said Julie Goldthwait, vice president and general manager of MonsterTRAK, the student division of Monster.com.

"Consequently, rather than increasing wages to attract entry-level candidates, employers are implementing practices that help attract talent at earlier stages, such as growing their internship programs."

A tight labor market and potentially flat wages are bound to have secondary effects on recent college graduates, many of whom do not expect to afford to live on their own once they get a job. Forty-eight percent of prospective graduates surveyed expected to "boomerang" and spend at least some time living with their parents, and 22 percent expected to live at home for even longer than six months.

These percentages have not changed from the year before. In addition, 42 percent of 2006 graduates reported that they still live with their parents, with 73 percent of them citing limited financial resources as the reason.

Employers and recent graduates alike perceive work experience and personal characteristics, such as interviewing skills, as the most important hiring factors. Responding to increased pressure for relevant work experience, 78 percent of prospective graduates report that they planned on completing one or more internships during their college career.

However, though employers complained about a lack of professionalism - not sending thank you notes, tardiness - in new interviewees, 35 percent of last year's graduates still said they did not send thank you notes after interviews.

"Employers perceive graduates' top motivators to be work/life balance opportunities and salary, while in reality, the survey shows that students are most engaged by fulfilling work and growth opportunities. This means entry-level seekers have a unique opportunity to stand out from the crowd by conveying to employers their true values and ambitions," said Goldthwait.

Copyright 2007 by Ziff Davis Media, Distributed by United Press International

Explore further: Alibaba surges in Wall Street debut (Update)

add to favorites email to friend print save as pdf

Related Stories

Apple a decade behind Japan mobile payment curve

1 hour ago

Apple's proud announcement that its new iPhone could be used to buy goods in a single swipe left customers non-plussed in Japan, where mobile contactless payments have been normal fare for a decade.

Toyota, Grenoble set stage for test in ride-sharing

1 hour ago

Toyota is testing ride-sharing. As simple as that may sound, the experiment indicates an innovative model for the future of urban transportation. The Grenoble metro area could turn out to be the trial stage ...

Alibaba IPO gives fresh life to Yahoo

3 hours ago

China's Alibaba will star on Wall Street with its upcoming stock offering, but US-based Yahoo also gets a windfall, which may help the turnaround efforts of the fading Internet pioneer.

China's Alibaba sets new path with US IPO

3 hours ago

With a possible record-breaking stock offering, Chinese online giant Alibaba is set to boost its role as a global company with a massive expansion potential.

Sparks fly as Di Grassi wins first electric race

3 hours ago

A spectacular crash at the last corner that ended leader Nicolas Prost's race and sent ex-F1 driver Nick Heidfeld flying into the fencing gave Brazil's Lucas di Grassi victory in the first ever Formula E ...

Recommended for you

Alibaba makes Wall Street debut

Sep 19, 2014

Alibaba made its long-awaited Wall Street debut Friday on the heels of a record stock offering that opens the door to global expansion for the Chinese online retail giant.

Alibaba IPO to boost employee fortunes to $8 bn

Sep 19, 2014

Employees of Chinese e-commerce giant Alibaba will see their fortunes swell to nearly $8 billion as the company prepares a massive US stock offering that could be valued at $25 billion.

Alibaba mega IPO caps founder Jack Ma success tale

Sep 19, 2014

When Jack Ma founded Alibaba 15 years ago he insisted the e-commerce venture should see itself as competing against Silicon Valley, not other Chinese companies. That bold ambition from a time when China was ...

User comments : 0