Monster Examines College Grad Employment

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Last week we reviewed what CareerBuilder.com had to say about the job prospects for 2010 college grads. Today, we’ll take a look at what one of its main competitors, Monster.com, has reported.

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womanNo one asked us to publish either of the reports nor are we being compensated for doing the same. Rather, we thought it important to pass along what the experts have uncovered in hopes that grads and their families have a clear picture of what to expect in the coming months.

Some of what was summarized in the “MonsterCollege’s Annual Entry Level Job Outlook Survey” falls under the “I already know this” heading. Job seekers know that the market is tough and understand that the road to employment won’t be an easy one.

What the Monster survey revealed was that recent and soon to graduate seniors are relying on friends and family members to help them find jobs, with 78 percent of those surveyed reporting that they’ve used these connections. 65 percent use the online job boards while social media continues to play an increasingly important role with 38 percent saying that they found such sites to be useful in their job search.

Student Debt

Monster’s survey also revealed that two-thirds of college workers are completing school saddled with student loan debt with one-third of respondents reporting that they have credit card debt. Monster did not reveal how many grads are leaving college with both student loans and credit card debt on their shoulders, however. That information would have been useful, underscoring the difficulty some students have faced over the past your or so in funding their education.

Recent grads are also returning home to live with their parents including those who have a full-time job. 52 percent of those employed are living with their parents with 27 percent expecting to stay for longer than seven months. That may have something to do with student loans coming due six months after graduation, a financial hit grads may find difficult absorbing along with paying rent for an apartment.

Positive Trend

The Monster survey isn’t reporting all gloom and doom, however. One important and positive trend noted is that 49 percent of students say they would settle for jobs outside of their fields compared with 58 percent last year. That trend seems to indicate that grads are showing confidence that they’ll eventually work in their trained fields or are willing to hold out a bit longer in order to get the job that they want.

Monster’s survey was conducted between February 25 and March 15 with 1250 respondents weighing in. The survey included college grads, college seniors and other students expecting to graduate college within the next few years. Separately, Monster interviewed 222 companies through an online survey to gauge their perspectives on hiring trends.

Adv. — Please visit SayLearning.com for distance learning information.

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Categories: Career Planning