ZipRecruiter Finds Class of 2023 Grads Feel Prepared For Entry into Labor Market
Large majority of grads are actively seeking employment, have been recruited, and have already had 9 job interviews
SANTA MONICA, Calif.–(BUSINESS WIRE)–ZipRecruiter®, a leading online employment marketplace, today released its second annual grad report, The Class of 2023: A Story of Resilience, revealing that more than two-thirds of the graduating class feel they are very prepared (69%) for the current labor market. The majority of graduates (92%) started actively applying for jobs as of early April and 85% said they have already been recruited. With an average of nine job interviews under their belts, they are well on their way to success in the job market.
“The way companies work is changing at a blistering pace. In this dynamic environment, employers are putting a premium on trainability and soft skills,” said Ian Siegel, ZipRecruiter Co-Founder and CEO. “New grads are well positioned to succeed in the first step of their professional lives as they look ahead to a career defined by continuous learning. Setting any short-term macroeconomic uncertainty aside, the optimism new graduates feel about their career prospects is well founded.”
While the Class of 2023 began their college careers during the pandemic, they overcame many obstacles and forged ahead to graduation. More than one in five (21%) said that the pandemic led them to study science, healthcare, or public health. As graduation approaches and uncertainty in the labor market increases, grads continue to adapt with the numbers showing resilience. 70% of graduating seniors say they plan to have a full-time job in the coming year. As the graduating class launches into the next chapter of their life, graduates plan to offset current inflation by taking on a ‘side hustle’ (9 in 10 grads), moving to a more economically friendly city, living with their families, or finding a roommate.
“In an economy defined by a constant drumbeat of disruptive innovations, new graduates are less likely to have predictable and linear careers. Embracing change and remaining open to new opportunities is critical in the near term labor market,” added Siegel.
Report highlights include:
- Graduating seniors have high wage expectations. Women expect to earn $69,200 and men $71,900 per year on average. Students with the same college major expect to earn equally across genders.
- Remote and hybrid work is of heightened interest. Having lived through a transformative shift towards more flexible work arrangements, 44% of grads want a hybrid work arrangement, 33% want to be fully remote, and only 23% want to work in an office or workplace every day.
- Most graduating seniors already have work experience and are adept at juggling. 97% of graduating seniors said they worked for pay during college with 83% juggling multiple roles at some point during their college career. From gig work (49%) to participation in work-study programs (43%) and paid internships (34%), most seniors appreciated gaining work experience.
- Internships are going strong for college students. The vast majority of graduating seniors (86%) said they had an internship at some point during their college tenure, giving them an opportunity to practice what they’ve learned in their studies (42%), learn new skills (37%), discover career interests (36%), and even land a full-time position (24%).
- Almost all graduating seniors believe going to college was worth it. While many Americans are skeptical about the value of a college degree, 98% of the 2023 graduating class said they believe going to college was worth it after attending.
- Generative AI is driving optimism, not fear. Graduating seniors were more optimistic than worried about Generative AI like ChatGPT. 51% said they expect it to create more, higher-paying jobs in their occupation; 23% said they expected no impact on their job; and 29% said they worry ChatGPT could eliminate a future job.
To view the full report, including additional data insights and methodology, please visit: https://www.ziprecruiter.com/grad-report
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1 Based on job seeker app ratings, during the period of January 2017 to January 2023 from AppFollow for ZipRecruiter, CareerBuilder, Glassdoor, Indeed, LinkedIn, and Monster.
2 Based on G2 satisfaction ratings as of December 13, 2022.
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