New College Grads Job Prospects Improved

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Job Interview

The economy is shakier than it has been for the past several years, but that isn’t stopping employers from planning to step up their hiring of college graduates this spring. According to Challenger, Gray and Christmas, the venerable outplacement firm, a survey of Human Resources managers reveals that they plan on hiring more graduates this year than in 2007.

Although hiring is expected to improve for 2008 that doesn’t mean that improvements will be felt across the board. Anne Fischer, senior writer for Fortune magazine who wrote, “Who’s Hiring New College Grads Now,” found that some industries are doing rather well while others are not.

Thousands Of College Grads To Be Hired

Fischer reported that car rental king Enterprise Rent-A-Car is leading the way, with plans to hire 8,500 fresh grads. Progressive Insurance, Walgreens, and Bank of America are each looking to hire several thousand new hires.

Of course, one of the reasons companies are looking to pad their staffs with new talent has to do with pay. Even as hundreds, if not thousands of higher level employees are being terminated, companies see recent grads as one way to get talented new employees for cheap. In other words, if you are expecting a terrific starting salary with a signing bonus, you’ll find that road to be difficult.

Government And Nonprofits Are Hiring

Many state governments are cutting staff but on the federal level the loathed and beloved Internal Revenue Service is seeking 5000 new recruits while the FBI and US Customs and Border Protection will be adding several thousand new employees each. On the nonprofit side, Teach for America plans on hiring 3700 new grads and the Peace Corps about 3300.

The flip side for grads is that construction and financial services hiring has dropped, a reflection of the pressure being felt overall in today’s economy.

In all, CollegeGrad.com — the entry level job site — predicts that hiring will increase by 11.8% this year, certainly a robust increase even in good economic years.

Further Reading

CollegeGrad.com Names Top 500 Entry Level Employers for 2008

Resources

The ABCs of Good Credit

Top Entry Level Employers

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Categories: Career Planning