Janice Lozano
Getting a job after university is a topic that concerns many students. While a degree is a distinguishing factor when applying for jobs, it does not guarantee employment. In fact, more than half of recent graduates find themselves in jobs that do not require a degree. However, graduates in STEM fields tend to have lower rates of underemployment. Additionally, internships during undergraduate studies can reduce the risk of underemployment. Overall, college graduates aged 25 to 34 have an employment rate of 86%, and 72.3% of all US college graduates are employed.
| Characteristics | Values |
|---|---|
| Overall employment rate of college graduates | 72.3% |
| Employment rate of college graduates ages 25 to 34 | 86% |
| Graduates in STEM fields with college-level jobs five years after graduation | 74% |
| Biology majors with college-level jobs five years after graduation | 53% |
| Nursing students who are underemployed | 23% |
| Criminal justice majors who are underemployed | 68% |
| College graduates in jobs that don't require a degree | 52% (one year after graduation) |
| College graduates in jobs that don't require a degree | 45% (a decade after graduation) |
| Black graduates who are underemployed one year after graduation | 60% |
| White graduates who are underemployed one year after graduation | 53% |
| Hispanic and Latino graduates who are underemployed one year after graduation | 57% |
| Asian graduates who are underemployed one year after graduation | 47% |
| Graduates from private nonprofit universities who are underemployed one year after graduation | 49% |
| Graduates from public universities who are underemployed one year after graduation | 54% |
| Graduates from for-profit universities who are underemployed one year after graduation | 63% |
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What You'll Learn
Employment rates vary depending on degree type and university attended
While a degree is a distinguishing factor when applying for a job, it does not guarantee employment. The employment rate for college graduates in the US is 72.3% overall, but this varies depending on the type of degree and the university attended.
Graduates in STEM fields, such as computer science and engineering, generally have lower rates of underemployment. For example, 74% of engineering graduates had college-level jobs five years after graduation, compared to 53% of biology majors. Math-intensive business fields, such as accounting and finance, also have better employment outcomes than standard business degrees. On the other hand, biology and physics graduates do not fare as well, and 68% of criminal justice majors are underemployed.
The selectivity of the university and the number of low-income students it serves also impact graduates' employment prospects. Graduates from more selective institutions that serve fewer low-income students are more likely to have college-level jobs. Private nonprofit universities have lower shares of underemployed graduates than public universities (49% vs. 54% a year after graduation), while for-profit universities have the highest share of underemployed graduates (63% a year after graduation).
The individual's actions also play a role in their employment prospects. Gaining experience through internships or jobs in their desired field while still in college can improve their odds of being hired after graduation. Networking with other students, mentors, and professionals is also important, as it allows graduates to leverage their connections when applying for jobs.
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Graduates' first jobs may not require a degree
While a degree can be beneficial for graduates looking for jobs, it is not a guarantee of college-level employment and high wages. In fact, more than half of college graduates are working in jobs that do not require a degree, according to a 2024 report. This could be due to a variety of factors, such as the tight job market, the major they chose, or the lack of internships during their undergraduate studies.
The report, released by the Strada Institute for the Future of Work and the Burning Glass Institute, found that 52% of recent four-year college graduates were underemployed a year after graduating, and 45% still did not hold a job that required a degree ten years after graduation. This phenomenon is known as "underemployment," and it can have significant long-term consequences for graduates, potentially consigning them to low-paying fields or industries that are hard to escape.
One reason for underemployment among graduates is the tight job market. In a tight job market, graduates may feel pressured to take any job they can get, even if it is not in line with their qualifications or interests. This can lead to graduates accepting jobs that do not require a degree, as they may feel it is better than being unemployed.
Another factor contributing to underemployment is the choice of major. Certain majors, such as STEM fields like computer science and engineering, have lower rates of underemployment. On the other hand, graduates with degrees in fields such as biology and standard business may struggle to find college-level jobs. Additionally, the type of institution attended also plays a role, with graduates from more selective institutions and private nonprofit universities having lower rates of underemployment than those from public universities or for-profit colleges.
Furthermore, the report suggests that internships during undergraduate studies can play a crucial role in reducing the risk of underemployment. Securing an internship allows students to gain experience and build their resumes, making them more attractive candidates for employers. It also gives them a better understanding of their desired field and can help them make more informed decisions about their career paths.
While a degree may not always be a requirement for a graduate's first job, it is still a distinguishing factor in the job market. It signals to employers that the candidate has technical skills, academic knowledge, and the ability to follow through on goals. Therefore, graduates who take jobs that do not require a degree may still be able to utilize the skills and knowledge gained during their studies to advance their careers and avoid long-term underemployment.
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Students can increase their employability through internships and networking
While having a degree is a distinguishing factor when applying for jobs, it does not guarantee employment. In today's competitive job market, internships and networking are two effective ways for students to increase their employability.
Internships provide individuals with valuable skills and hands-on experience in a specific field or industry. They demonstrate to employers that the applicant has a strong work ethic, practical experience, and is committed to pursuing a career in that field. According to a survey by the National Association of Colleges and Employers (NACE), 65% of employers prefer candidates with relevant work experience, and graduates who completed internships were more likely to secure employment within six months of graduation. Additionally, internships provide networking opportunities and can lead to higher starting salaries.
Networking is another powerful tool for students to increase their employability. It helps students identify their skills and strengths, gain access to resources and information, and build trust with potential employers. In the 21st-century labour market, having a degree may not be enough to differentiate oneself, and networking can provide valuable connections and career opportunities. Students can network with other students, mentors, and professionals through meetings, coffee chats, and networking events.
Students can take advantage of their time in college to build their networks and gain practical experience through internships. By interacting with a large network, individuals increase their chances of securing job opportunities and fostering professional growth. Networking events and workshops on college campuses provide numerous opportunities for students to enhance their career prospects and meet potential employers.
Overall, internships and networking are effective strategies for students to enhance their employability. They provide valuable skills, experience, and connections that can set students apart from other applicants and increase their chances of securing employment after graduation.
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Resumes and interviews are important for securing a job
While having a degree significantly increases your chances of landing a job, with 72.3% of all college graduates in the US being employed, it's not a guarantee. In today's competitive job market, resumes and interviews are essential tools for securing a job.
Resumes
A resume is a formal summary of your qualifications, professional background, skills, and achievements. It is often accompanied by a cover letter and is used to showcase your eligibility and qualifications for a job. Resumes help employers make hiring decisions and help you get your first interview. They are usually a base requirement for moving forward in the interview process.
To make your resume stand out, it's important to pay attention to its structure and content. This includes using appropriate formatting, colours, and design to highlight your relevant skills and experiences. It should also contain keywords from the job description to match your skills to the position's needs.
Interviews
Interviews are an important part of the recruitment process for both employers and candidates. They allow employers to meet and compare different applicants, assess their suitability, and make informed hiring decisions. Interviews can help determine a candidate's proficiency in various hard and soft skills, as well as their attitude, character, and how they present themselves.
For candidates, interviews provide a better understanding of the organisation, the role, and the people they might work with. They also offer an opportunity to ask questions and gain clarity about the position, helping them decide if they want to accept a job offer.
In conclusion, resumes and interviews are crucial components of the job search process. They enable employers to evaluate candidates and make informed hiring decisions, while also providing candidates with the opportunity to showcase their skills and qualifications, as well as gain insight into the organisation and role.
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Employment rates also vary depending on race
While having a degree can be beneficial for finding employment, it does not guarantee a job. A degree can signal to employers that a candidate has technical skills and academic knowledge, and can follow through on goals. However, the type of degree and the institution attended can also impact employment outcomes.
In the United States, overall employment rates for college graduates aged 25 to 34 are high, at 86% according to a 2017 study. However, there are disparities in employment rates based on race. Black graduates are more likely to be underemployed than their white peers; 60% of Black graduates are underemployed a year after graduating compared to 53% of white graduates. Hispanic and Latino graduates also face higher underemployment rates than white graduates, with 57% underemployed in the first year. These disparities persist over time, with 45% of graduates still not holding jobs requiring a degree a decade after graduation.
The institutions attended by students of different races also vary, which contributes to the employment rate gap. Black and Hispanic students are more likely to attend for-profit schools, which have higher shares of underemployed graduates (63% a year after graduation and 58% a decade later). In contrast, white students are more likely to attend public and non-profit four-year universities, which have lower underemployment rates.
Additionally, Black students have lower persistence and completion rates, higher debt burdens, and lower median annual earnings than white students. These disparities result in significant gaps in the number of degrees earned and the fields in which they are earned. For example, if Black and Hispanic students earned bachelor's degrees at the same rate as white students, there would have been over 1 million more degrees awarded from 2013 to 2015. Furthermore, if Black and Hispanic students majored in engineering at the same rate as white students, there would have been 20,000 more engineers during that period.
To address these disparities, it is important to consider how introductory courses and "weeding out" practices in certain majors may disproportionately impact underrepresented students of colour. Additionally, ensuring access to internships, providing transparent employment data, offering career coaching, and increasing access to well-paying jobs can help curb underemployment for all graduates.
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Frequently asked questions
Overall, 72.3% of college graduates in the U.S. are employed. However, this number varies depending on several factors. For example, 86% of college graduates aged 25-34 found employment, according to a 2017 study.
No, more than half of college graduates find themselves working in jobs that do not require a degree. This number is even higher for certain demographics, such as Black graduates, 60% of whom were underemployed a year after graduating.
Yes, the greatest determinant of post-graduation employment prospects is a student's major or primary focus of study. For example, 74% of engineering graduates had college-level jobs five years after graduation, compared to 53% of biology majors.
Students can boost their chances of getting hired by gaining work experience during their studies. Internships are a great way to do this and reduce the risk of underemployment by almost 50%. Networking is also important, as it allows students to connect with potential employers, mentors, and other professionals in their field.
