Surviving the Economy 101 for College Grads

Pomp and circumstances being what they are, you can imagine how hard it is to find a job in this economy, especially for college graduates.

“I’m ready to work. I come from a long line of coal miners in Pennsylvania so I’m ready to put that work ethic into action,” says DePaul student Perry Gaddis.

Gaddis may have the work ethic, but when he graduates this spring, he has no place to work.
Instead, he's trying to refurbish his resume by interning at Accenture.

“It is paid. It’s been a great experience, not so much the paycheck because it’s lower than what I was used to but the experience definitely,” explains Gaddis.

Gaddis was only supposed to intern for three months but his production has been so impressive, his boss asked him to stay for nine months. His strategy may be one other students want to duplicate.

According to the National Association of Colleges and Employers, companies are expected to hire 22 percent fewer college grads this year.

“Coming out of college with a degree is no longer an assurance that there are jobs out there waiting for them,” says Anne Edmunds of Manpower.

Edmunds suggests students do whatever it takes to get a foot in the door, whether that means interning or taking a lower level position.

“I think it’s very, very important for college students to use their network, their parents network, their referrals, talk to everyone they possibly think to talk to about opportunities,” advises Edmunds.

Another opportunity is letting businesses try employees before they hire them. It's a concept they help facilitate at Brill Street, a job agency for graduates.

But as bad as the job market seems, there are still plenty of openings. For instance, the CIA is hiring grads with research and analytical skills. Enterprise Rent-a-Car plans to hire 8,000 college grads by July. UPS has entry level positions including call center dispatchers and managing shippers. And the Peace Corps is recruiting recruiters.

“Emotionally, it’s pretty scary. To try and go out there and know that not only are you fighting traditional college students but perhaps people who already have experiences and know there way around businesses,” says Mike Leach, who knows how tough it can get.

Leach, a recent U of I graduate, has been looking for a job since he got his diploma. His best advice is to stay optimistic.

Perry Gaddis can relate. Like so many of his peers, he may not have the experience, but maybe the timing couldn't be better for being young, ambitious, and hopeful.

“Things are turning around, we know it, we got a breath of fresh air from the government, we are going to be changing some things and I’m looking forward to being a part of it,” says Gaddis.

As for the average salary for college grads, how about $48,000? Not bad, but still 2 percent lower than last year.