I’m taking a brief hiatus from holiday consumerism to write a brief blog post about college kids and jobs. I finished an article last week on the topic. I’m not sure when it will come out, but I’ll puff it here when it does. In the meantime, let me just pass along advice that I picked up when doing the article. This is advice that I’ve been hounding my own college kid about this past week.
The job outlook for college grads isn’t wonderful, especially for kids who have just concentrated on finishing their degrees without much thought beyond getting the BA and for kids who don’t have parents to grease the wheels of the economy with connections.
I spent a few hours doing keyword searches on the online job boards for college BAs with a liberal arts and no experience. Most of the jobs that turned up were Dunder Mifflin type jobs selling random stuff for about $15 per hour. That might be fine. It’s a way to move up in a company. Research shows that most kids with liberal arts degrees start off in sales positions; some move into Human Resources or marketing. But college grads should know what those kinds of jobs are and be aware that that’s where they’re going to end up with a major in History.
30 percent of kids don’t make it past their first year of college. A huge chunk fail out their first year, or they leave because they can’t handle the independence of a school or they hate the chaos of a dorm. I see this among the kids that graduated with Jonah. Some are honor student kids. One had a big running scholarship to a fancy school. College is tough, and many can’t handle it. They end up at community colleges or trade schools. Two of Jonah’s classmates are now selling stocks at Boiler Room-type places.
I’m hearing anecdotal stories about massive student loan debt. Like $100K to $200K. I think those numbers are super high in the Northeast, because working class families around here make too much to qualify for Pell grants. Then they have to go to grad school, because 65 percent of all jobs now require advanced degrees. And they can’t afford that next step, because they owe too much from undergraduate education.
Internships are the new normal for college students. But internships are for rich kids. Kids who have to work in the summer to help pay for college can’t afford to work for free. And many of those internships at the fancy colleges actually cost money, because they are in foreign countries or in other cities. Families who are struggling to just pay for college can’t take on that extra burden.
Colleges have dumped a ton of money into career development centers, which is great, I suppose. Some are better than others. Some offer real help; others hand the students a pamphlet on writing resumes. And only a small percentage of students are going to the centers, because it’s not required.
Guys are choosing very different majors than girls and are having much different outcomes on the job market.
Students, especially the dudes, are choosing large public colleges over small liberal arts colleges. In some ways, this is a good thing. The large public colleges are cheaper and have more resources. But many students can get lost in the system. The kids who survive the big school experience learn how to manage the system. They learn how to tap into the resources. Others get in the bubble of student life and have little contact with adults who can help them.
Alright, done with the brain dump right now. More later.