Much attention has been placed on the job outlook for recent college graduates by media outlets. Most reports paint a bleak future. However for Pamplin students, there are plenty of jobs available, if students are willing to acquire the skill sets in demand or are willing to take a position that is perceived to be "beneath" them. If they are not willing to do those two things, then, yes, they may struggle. Here are the three types of jobs facing current college students.
1. Jobs with Billable Skills
Job seekers and students forget that the primary reason someone hires them is to make money off their time and talents. Employers are looking for a return on investment in paying a recent graduate a salary. So, how does the student provide a good ROI? Accounting, Business Information Technology, and Finance students are in high demand because their billable skills are demanded by companies and consulting firms, not only for themselves, but also for their clients. Firms can "acquire" recent college talent for $60,000 a year and bill out their time for several times greater than that to their clients. This current war for this talent is only intensifying around certain skill sets.
2. Jobs in Sales and Business Development
If a student does not have a billable skill in demand, then the next alternative is generating revenues for a company through selling. Companies will pay a base sales salary of $40,000 a year and offer commission at 5% of sales. Therefore, if a recent graduate sells $200,000 of products, then the student will earn $50,000 for the year, but the company will make $150,000. That's a nice ROI for the company and therefore the student is in demand because of sales performance.
3. Jobs in Everything Else
Sure there is some supply, but the demand has fallen off since the recession. There is a surplus of students entering the workforce without billable skills and do not want to be in sales; therefore, these students are commodities and may not have an easy recognizable differentiating quality. As a result, students must be highly skilled in the nuances of the job search process in order to distinguish themselves from the masses.
College students recognizing and understanding the larger labor market and the supply and demand that exists can take advantage of this knowledge and incorporate it into their job search strategy and techniques. The sooner this reality is learned, the quicker job offers will be received.
