The advantages of entering the workforce in a recession
Despite the well-documented disadvantages of graduating from college during a recession, could graduates actually be happier with their jobs in the long run?
A new article from Administrative Science Quarterly examines whether earning a college or graduate degree in a recession or an economic boom has lasting effects on job satisfaction. Across three studies, well-educated graduates who entered the workforce during economic downturns were happier with their work than those who first searched for jobs during more prosperous times. In fact, they were happier with their jobs both early and late in their careers, even when they earned less money.
Author Emile C. Bianchi wrote, "people who entered the workforce in bad economies were less likely to entertain … thoughts about how they might have done better, and more likely to feel grateful for their jobs, both of which mediated the relationship between economic conditions at workforce entry and job satisfaction."