2010 Grads - Smaller Job Market, but May Have Higher Pay than Last Year

Job market decreasing, but income increasing?

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CHICAGO, April 14 /PRNewswire/ -- CareerBuilder's Annual Job Forecast finds the overall job market for 2010 college graduates will remain highly competitive, but is showing some signs of improvement. The total number of employers planning to hire recent college graduates in 2010 – 44 percent – is relatively unchanged from 43 percent in 2009 and is down from a high of 79 percent in 2007. However, one-in-five employers (21 percent) who are hiring recent college graduates said they will hire more than they did last year. Sixteen percent also reported they will offer higher starting salaries than they did in 2009, an improvement from 11 percent in last year's survey. The survey was conducted from February 10 to March 2, 2010, among 2,778 hiring managers and human resource professionals.

Thirty percent of employers plan to offer recent college graduates starting salaries ranging between $30,000 and $40,000. An additional 19 percent will offer between $40,000 and $50,000, and 19 percent will offer $50,000 or more. Thirty-three percent will offer less than $30,000.

"Even though companies are gradually starting to hire again, the job market will still be challenging for college graduates this year," said Brent Rasmussen, President of CareerBuilder North America. "To take advantage of the opportunities that exist, it's important for recent graduates to start their search early, remain positive and keep an open mind. In addition, networking and showing relevant work experience – whether it is internships, class work or volunteering – can help make your application stand out."

Employers reported that the following activities qualify as pertinent work experience for recent college graduates to include on their resumes:

• Internships – 62 percent
• Part-time jobs in another area or field – 50 percent
• Volunteer work – 40 percent
• Class work – 31 percent
• Involvement in school organizations – 23 percent
• Involvement in managing activities for sororities and fraternities – 21 percent
• Participation in sports – 13 percent

While employers said that experience is one of the most influential factors in their decision to hire a recent college graduate, they also pointed to the following attributes:

• Good fit with company culture
• Comes in with good ideas and asks good questions
• Educational background
• Level of enthusiasm
• Comes to interview prepared, is knowledgeable about company

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Weekly Grad Star: Troy Bawolek

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Name: Troy Bawolek
School: Loyola University Chicago Graduate Business School
Major: Finance
Graduation date: November 2010
Job desired: I am looking for entry level investment banking or wealth management opportunities

Why should you be hired?
I am extremely motivated for a career in this field. I know the hours are long and I have the drive to start from the bottom and work my way to the top. I am equally capable of working in a group or independently. I am a quick learner with an attention to detail and will be a loyal employee because I ideally want to spend my career with the same company. Above all I want to be a source of knowledge for clients to help manage their way in this different financial environment.

Bio
I have switched career paths as my bachelors was for sports management and I am currently concentrating in finance (investments and analysis), therefore I would be looking for those on par with undergraduates opportunities though I do feel I can take on the responsibility of those expected from an MBA whose undergrad was finance.

I find the world of finance so much more fascinating and am eager to learn all I can about it from reading the Wall Street Journal every day to attending investment banking seminars and Morningstar workshops. My only finance experience has come from my current internship for a small real estate investors company in Chicago where I have been given various analysis projects. Outside of that my other work experience has come from sports internships which developed a lot of qualitative skills in dealing with customers and communication among various levels of co-workers/management. I have been very rigorous in strengthening my quantitative skills and knowledge of Excel especially since those are crucial for most finance careers.

Contact info
tbawolek@yahoo.com


Want to be a featured Grad Star? Click here!

College Grads: Affordability and Health Reform Key Drivers to Get Health Insurance Coverage

Students may graduate without any health insurance coverage

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MOUNTAIN VIEW, CA, Apr 20, 2010 (MARKETWIRE via COMTEX) -- In a new survey from eHealthInsurance (EHTH 14.66, -0.27, -1.81%) (www.ehealthinsurance.com), one-in-five (21%) adults, ages 18-30, who graduated college in the past three years indicated that they were currently uninsured, and one-in-three (37%) stated that they did not have health insurance the day after they picked up their diploma. These results are part of "Real Life 101," eHealthInsurance's annual national poll of college students and recent graduates.

The survey results are available online at news.ehealthinsurance.com

The survey, conducted in March, 2010 by global insights firm Kelton Research and sponsored by eHealthInsurance, surveyed 1,016 adults between the ages of 18-30, including 516 full-time college students and 500 adults who had graduated college within the last three years. The results also reveal that, when it comes to getting health insurance, the biggest motivator for college students (32%) and recent graduates (41%) is finding access to affordable coverage. And, with the passage of health reform, most current students (64%) and recent graduates (65%) said they would buy health insurance, regardless of the cost. A minority said they would go without health insurance and face any resulting penalties when a mandate is slated to go into effect in 2014.

It's estimated that 3.2 million additional college students will receive degrees and graduate from college during the 2010 school year(1). With most of the major components of health reform beginning in 2014, and the economy still struggling to add jobs, expectant graduates are likely to need alternatives to employer-sponsored health insurance after graduation. Health reform legislation dramatically improves health insurance options for college graduates by adding new consumer protections to the individual -- non-group -- health insurance market, and by giving graduates the option to go back onto a parent's health insurance plan until they turn 26.

The poll results show most college students (85%) and recent graduates (84%) have followed the health reform debate, but fewer than a third (30%) of recent graduates and a fourth of current students (26%) believe the government should require 18-24-year-olds to buy health insurance. Less than one-in-ten graduates (6%) and current students (8%) say they'd be likely to defy the law by choosing to pay tax penalties, or by waiting until they get sick to buy health insurance.

For a complete list of the survey results from eHealthInsurance, go online to news.ehealthinsurance.com and search for the term, "101 Survey."

Misperception of Costs Leads Opposition to Buying Health Insurance: Recent graduates overestimate the cost of individually purchased health insurance by approximately 38%, and students overestimate the cost by 69%. When asked what would motivate them to buy health insurance, the most common answer given by current students (31%) and recent graduates (41%) was 'access to affordable insurance policies.'

-- The average recent graduate believes private insurance would cost $227
per month
-- The average college student expects to pay $278 per month
-- The average monthly premium for individual health insurance policy is
$161(2)

Fair Pricing? When asked what they would view as a "fair" price to pay for their own health insurance, both students and recent graduates were much closer to the actual average cost of non-group health coverage for adults in their age range.

-- Recent graduates felt a "fair" price to pay for their health insurance
was $137 per month, which is slightly more than the actual price of
$130(2) that adults, ages 25-34, are paying per month.
-- College students also felt it would be fair to pay slightly more for
health insurance -- $114 per month -- than the actual cost of $109(2)
that adults, ages 18 to 24, are paying.

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Last Week's Poll Results

Last week we asked "Do you currently use job boards or job aggregators more often?"

Here are the results of the poll:

Job boards 30%
Job aggregators 21%
Both 49%

Are you surprised at this outcome? Comment below!

Weekly Recap

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For those of you that were a little too busy this week to read all of New Grad Life's content, here's a nice recap of everything that was published.

Take some time to relax, browse the content, and most importantly, learn!

News

• New "Grad Star" Program - get noticed, get a job

• Last week's poll results

• Weekly Poll: Do you currently use job boards or job aggregators more often?

• Job market loosens up slightly for college grads
• Bay area job market looks good for grads

Job Hunting

• 10 Ways to Use Social Media to Get a Job
• How new grads can find jobs through LinkedIn

Interviews

• 5 Subliminal Tricks That Make an Employer Adore You

Resumes

• 12 Eye-Catching Resume Tips

Networking

• How to Network Like a Pro

Finance

• College Graduates - Be a Finance Guru with a Few Steps

Bay Area Job Market Looks Good for Grads

Jobs for bay area students - but will this trend spread?

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SAN FRANCISCO (CBS 5) - As college students get ready to graduate and step into the job market, some may be feeling the pressure of finding a job. Around 85 percent plan to maintain employers plan to maintain or decrease their current graduate hiring. But in the Silicon Valley, 2010 graduates may have more opportunities.

Melissa Simson, a senior at UC Berkeley, is one of the many students who will be graduating in a few weeks. But Simson said she's already landed her dream job with a Bay Area company. A company she said first tried her out as an intern.

"It's outstanding," Simson said. "There was nine interns, I was one of them and I think six got full time offers and are now going to work and I think that's a huge percentage."

Tom Devlin, director of the career center at UC Berkeley said he's seen an increase in recruiters, which is a good sign.

"I would honestly say that the data we're seeing in the last couple months shows an up tick in terms of hiring not only for internships but full time employees," he said. Having internship experience is what will land a student a position Devlin said.

At Stanford University, more than 70 recruiters met with students in a two-day hiring event. Search management company Marin Software said they plan to hire at least 40 new employees.

In a survey conducted by the Silicon Valley Leadership Group, 58 percent of CEO's plan to hire this year.

The class of 2010 may have more opportunities, but salaries are expected to drop by at least 2 percent compared to 2009. Three industries that plan to hire more graduates this year are construction, trade and government. But with so much competition, companies are looking for a G.P.A. of at 3.0 or higher.

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Source: http://cbs5.com/consumer/jobs.new.graduates.2.1638522.html

Photo courtesy of Creative Commons

http://www.flickr.com/photos/taylar/ / CC BY 2.0

College Graduates - Be a Finance Guru with a Few Steps

Graduating with debt? Here's some advice for grads

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Graduating college can be a surreal experience. You finally made your way into the real world. Congratulations! Luckily, you found yourself a good paying job and now comes that thing called “Responsibility”. For those that are eager to invest and get ahead, it can be very overwhelming trying to decide what is the right direction to go. Before you get started, here is a few tips to get you going on the right track to becoming a bona fide investor. Graduating college can be a surreal experience. You finally made your way into the real world. Congratulations! Luckily, you found yourself a good paying job and now comes that thing called “Responsibility”. For those that are eager to invest and get ahead, it can be very overwhelming trying to decide what is the right direction to go. Before you get started, here is a few tips to get you going on the right track to becoming a bona fide investor. 


1. Take inventory. Taking inventory of all your debt is helpful to understand where you are at financially. If you just graduated with a ton of student loan debt, credit card debt, or any other consumer debt, investing might not be the right direction initially. You need to write it down and see it on paper what you actually have to work with and what you need to focus your efforts on. 


2. Don’t start too soon. As I stated earlier, if you have an exorbitant amount of consumer debt, it is probably not the best sense to start investing immediately. One could argue that as long as your student loans that have a low fixed interest rate, those are okay to have. But private loans or any credit cards that have a high interest rate need to be paid off before considering to invest. Once you get your cards paid off, then we can talk about investing. 


3. Stay away from stocks. With every new and eager investor that I run across, they all want to jump in the stock market and start buying individual stocks. I was no different. To truly get ahead in buying stocks, you have got to have a decent amount of cash built up to make a difference. For example, I always recommend buying at least 100 shares of a stock. Well, if you want to buy Microsoft, that would require around $2000 to get going. Even if you have the money to buy 100 shares, chances are you are not fully diversified. One bad pick and you can easily see your entire portfolio disappear overnight. Play it safe, stay away from stocks in the beginning. Consider mutual funds and ETF’s in the beginning. 



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Job market loosens up slightly for college grads

Does the class of 2010 have it better than the class of 2009?

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BLOOMINGTON -- Class of 2010 college graduates face a tough job market, but at least they've got it better than the Class of 2009.

Employers said they expect to hire 5.3 percent more new 2010 grads versus last year's class, a new National Association of Colleges and Employers job outlook survey shows. At this time last year, the firms anticipated hiring 22 percent fewer new grads than in 2008.

"This is the first positive news that we've had in hiring projection since October 2008," said NACE executive director Marilyn Mackes.

In Central Illinois, new teachers in particular face a crowded market, with hundreds of certified teachers and uncertified school employees being laid off due to the state budget, said Mark Jontry, regional superintendent for McLean, DeWitt and Livingston counties.

Illinois State University alone expects around 1,000 students to complete their teacher-education programs this year, among the state's top producers. Jontry said there are still some content areas with a shortage -- special education and English as a Second Language, namely.

But job security is limited.

"In our districts, a lot of them have pretty much (laid off) pretty much all of our non-tenured teachers until they have a better idea of what their financial picture will be," Jontry said. Some teachers may be called back in August when final budgets are fleshed out.

Health care, meanwhile, remains relatively healthy. At Advocate BroMenn Medical Center, Normal, there are about 70 job openings, up from about half that during the recession's darkest hour, said human resources director Diane Crutcher. Employees now feel more comfortable retiring, or seeking other opportunities, freeing up jobs for grads, she said.

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Weekly Poll: Do you currently use job boards or job aggregators more often?

Currently, we are noticing a rise in popularity of job aggregator sites. It seems everybody uses them these days, but are job boards really being left behind?

What do you use? Job aggregators or job boards? Or both? Vote below!

Last Week's Poll Results

Last week we asked "How long have you been looking for a job?"

There were a total of 333 votes and here are the results of the poll:

1 - 3 months: 18%
4 - 6 months: 19%
17 months - 1 year 28%
Over 1 year 35%

Are you surprised at this outcome? Comment below!

Weekly Recap

   Share    


For those of you that were a little too busy this week to read all of New Grad Life's content, here's a nice recap of everything that was published.

Take some time to relax, browse the content, and most importantly, learn!

News

• Last Week's Poll Results

• Weekly Poll: How long have you been looking for a job?

• Job-hunting college grads may require extreme social networking makeover
• To pursue plans and dreams, new grads need financial tools

Job Hunting

• Applying to Jobs Online? 3 Mistakes to Avoid!
• 15 Twitter Job Search Apps for New Grads
• 8 Job Search Tips to Remember

Resumes

• Resume Tip: 5 Ways To Prevent Emailed Resumes From Getting Blocked as Spam

Interviews

• Job Interview Questions: "What Are Your Greatest Weaknesses?"
• 10 Ways to Screw up an Interview

To pursue plans and dreams, new grads need financial tools

Credit unions better than banks for college grads?

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(ARA) - Recent graduates should be proud of their accomplishment, but there is still a lot to learn - like how to get the most from their money, how to establish credit and how to ensure convenient, safe access to their savings and checking accounts. While today's tough economic times can make setting up these building blocks of personal finance even more worrisome, credit unions offer many solutions.

Virtually everyone in the U.S. can belong to a credit union through either their employer or affiliation with a group like a place of worship. A third option is many credit unions have "community" charters and serve a region defined by geography rather than by association. Because they are cooperatives where each member is an owner, credit unions operate as nonprofits and return earnings back their members in the form of better rates on savings and lower fees for services. That's great for everyone, but credit unions have other benefits that are particularly important to those just starting out.

Many young people have difficulty obtaining credit because their incomes are low and they have little or no credit history. And the current credit crunch has caused many banks to tighten their lending standards. But because credit unions are chartered to serve their members' needs and are less likely to be forced by the marketplace to change their underwriting standards, they are making loans others will not - and with comparatively lower rates and fees.

"Higher savings rates, lower fees and access to credit are benefits everyone can appreciate, but younger tech-savvy people are also interested in services like plentiful, no-fee ATMs, online and mobile banking, and image deposits. Credits unions offer these too," says Stan Hollen, president and CEO of CO-OP Financial Services, a provider of personal finance tools to credit unions, and itself owned by its members. "Today's credit unions offer their members, young and old, the latest financial technologies so they can access their accounts anywhere, anytime, nationwide."

Credit unions are, by design, regional, but provide their members nationwide services through CO-OP. Among the services offered is CO-OP Network, the largest ATM network in the country with more than 28,000 surcharge-free locations. That's more than any bank. CO-OP member credit unions also provide next-generation personal finance tools like mobile banking that can interface with iPhones, Web-based deposits, tap-and-go payment processing and reloadable prepaid cards.

Some young people might lean toward choosing a bank over a credit union because they want their deposits insured, not knowing that credit union member deposits are insured up to $250,000. Credit union-issued credit cards also tend not to have an annual fee.

"The increasing cost of gas, groceries and other expenses eat away at the starting salaries of recent graduates," says Hollen. "These can be offset somewhat by choosing to make a credit union their primary financial institution. Young people are looking for speed, convenient financial transactions and quality. Today's credit unions offer all of this, along with their well-known, hometown friendly service."

Courtesy of ARAcontent

Photo courtesy of Creative Commons

http://www.flickr.com/photos/ndevil/ / CC BY 2.0

Job-hunting college grads may require extreme social networking makeover

Is your online identity hurting your job search?

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Congratulations, graduates. You’ve been out of school for a bit now and, if you haven’t yet lined up an internship or a job, you’re frantically looking. You have all of your ducks in a row: résumé, references, portfolio, etc. However, what you’ve neglected to do is take down those keg stand pictures you have up on your public Facebook page.

Will this keep you from getting a job? Maybe.

According to a survey conducted late last year by CareerBuilder.com, more than one in five employers search social networking sites to screen potential hires. And, if your social network presence isn’t in tiptop condition, it might hinder you from getting the job of your dreams in an already tough market.

CDW, a provider of technology products and services, is one such company that seriously considers the social network presence of all hires. After a slow-down in hiring earlier this year, the company re-focused its recruitment efforts in the social networking realm and is steadily building a pipeline of talent by looking at Facebook, LinkedIn and Twitter to recruit college graduates seeking careers in IT, sales and/or engineering.

“More than 30 percent of CDW’s coworkers are made up of Gen Y, which means paying attention to social networking is critical to finding and retaining the right talent,” said Charles Bretz, CDW senior recruiter. “Specifically, CDW is looking for candidates that have the same values as the company - respect for colleagues, customers, partners and communities as well as working everyday with passion and integrity. As such, social networking, as one of CDW’s main sources of sourcing talent, plays a large role in pairing down a large group of candidates to find the right ones for the job.”

For this reason, Bretz cautions job candidates and reminds them of the “grandmother rule of thumb” when it comes to social networking.

“If you would not want your grandmother to read or see it, then take it down,” he said. “Candidates who want to be considered seriously by CDW should have a professional profile on Facebook or Twitter and on LinkedIn they should have recommendations from past jobs, friends, etc., to illustrate their professional and personal commitment.”

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Last Week's Poll Results

Last week we asked "Do you think the job market will improve this year?"

There were a total of 462 votes and here are the results of the poll:

Yes: 52%
No: 34%
Not Sure: 14%

Are you surprised at this outcome? Comment below!

The "Big Three Myths" of Health Insurance

Reprinted with permission from http://insuremeonline.com

Don't fall for the common myths about insurance

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If you’re one of the millions of Americans who feel as though buying health insurance is money down the drain, you could already be a believer in one of the Big Three Myths. Think about it: The law forces us to purchase car insurance, and loan requirements force us to buy homeowner’s insurance, but health insurance is up to us. And honestly, what’s more important to you: Your home, your car or your health? Going without health insurance can be the worst gamble anyone ever makes. One bad roll of the dice could cost you the freedom your good health gives you every day while draining your savings, and depending on the case, could even cost you the car and the house for good measure. So don’t buy into the myths:

Myth #1: It is always better to have employer-sponsored policy

Traditionally, the majority of Americans receive coverage through their employer. Including health benefits with a compensation package has always made sense because large groups can negotiate better prices than individuals, right? Well, maybe not. The cost of employer-sponsored coverage has been steadily increasing and employers are faced with fewer options. This is great for individuals with chronic medical conditions, but it means higher out-of-pocket costs for all employees, even the healthy ones who never go to the doctor.

Due to double-digit increases in health care premiums[1], employers are facing a tough choice; either pass the costs onto employees or reduce benefit levels. Many employees have noticed copays and prescription drug costs increasing while simultaneously contributing more and more to cover themselves and their families. It can definitely feel like a waste of money if you hardly use your insurance, so why not look for a plan that meets your specific needs rather than overpaying for a group policy that includes coverage you wont use?

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Jobs requiring higher education may outpace number of new grads

Reprinted with permission from http://readingeagle.com/

Jobs requiring higher education soon may outpace number of college grads

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After Jill S. Darr graduates from Albright College in May, she plans to pursue a career as a fashion buyer or fashion journalist.

Darr, 22, is a textbook example of how a student can stay on course and graduate on time - through hard work, dedication and paying attention to details.

But some are concerned that college graduation rates will not keep pace with the number of jobs that will require a degree.

"Both positions would require a four-year degree in fashion, and most employers want experience on top of that, so that's why I'm involved in all the extracurricular activities," said the native of Dillsburg, York County.

She also had to maintain her grades to keep a scholarship and take four classes a semester to graduate in four years.

"I made sure I was keeping track of the classes I took and the requirements they had and I kept track with my fashion adviser," Darr said of Doreen Burdalski, chairwoman of Albright's fashion department. "We had a closer relationship because it is a smaller college."

Within 10 years, more than 60 percent of jobs will require a college degree, yet only 43 percent of Pennsylvanians ages 25 to 34 have earned degrees, according to Complete College America, a Washington-based group dedicated to increasing graduation rates.

This month Gov. Ed Rendell announced Pennsylvania is one of 17 states pledging to increase graduation rates.

"The next step is to form a group of stakeholders to identify specific goals and how we'll go about achieving them," said Michael Race, a spokesman for the state Department of Education. "The plan is to meet those goals by 2020, so in the next few months to a year we'll have the working group set up and the projected graduation rates that we want for colleges and universities."

Berks County's high schools generally are doing a good job sending students on to higher education, local college officials said.

At Gov. Mifflin, for example, about 80 percent of recent graduating classes went on to a two- or four-year college or nursing, business or technical school, said Keri Morton, a spokeswoman for the district, which has students from varying socioeconomic backgrounds. About 4 percent of recent Mifflin graduates went into the military.

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Last Week's Poll Results

Last week we asked if you thought the recent health care reform bill would really help college grads.

Here are the results of the Poll:

Yes: 46%
No: 42%
Not Sure: 11%

Are you surprised at this outcome? Comment below!

Happy Easter from New Grad Life!

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On behalf of all the staff of New Grad Life we would like to wish all our readers, friends, and partners a very happy easter.