1. WHAT’S HAPPENING TO RECENT COLLEGE
GRADUATES IN TODAY’S ECONOMY?
Carl E. Van Horn
Professor and Director
John J. Heldrich Center for Workforce Development
March 2012

2. What’s Happening to Recent College Graduates in Today’s Economy?
Unfulfilled Expectations:
Recent College Graduates Struggle in a
Troubled Economy
A Heldrich Center for Workforce Development
Work Trends Report
by
Carl Van Horn and Cliff Zukin
Rutgers University
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3. What’s Happening to Recent College Graduates in Today’s Economy?
Goals of the Survey
 To explore the connections between college and initial
jobs in the workforce
 To understand the experiences of recent college
graduates as they search for a job
 To examine how recent college graduates have been
affected by the recession
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4. What’s Happening to Recent College Graduates in Today’s Economy?
Who We Surveyed
 National Random Sample of 571 graduates
 Who graduated in the years 2006-2010 with a four-year
college degree—All Majors included
 Between the ages of 22-29
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5. What’s Happening to Recent College Graduates in Today’s Economy?
Where are these Graduates Now?
 53% are employed full time
 21% are attending graduate school
• 14% are looking for full-time jobs
• 16% are not employed in any fashion
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6. What’s Happening to Recent College Graduates in Today’s Economy?
What We Asked About
 College Experience
 First Job
 Current Job
 Financial Shape
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7. What’s Happening to Recent College Graduates in Today’s Economy?
College Experience
Most students needed (government) help to pay for college
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8. What’s Happening to Recent College Graduates in Today’s Economy?
Work Experience During College
Most students worked while in school
 83% worked while in school
 23% worked full time
 50% said the jobs they held while in school were
related to their academic major
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9. What’s Happening to Recent College Graduates in Today’s Economy?
Paying for College
Over half graduated in debt
The median
amount of
money owed
was
$20,000
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10. What’s Happening to Recent College Graduates in Today’s Economy?
Assessing the Value of College
Generally students felt their education prepared them for
the workforce
 75% believed their college education prepared them
to be successful in their first job
 61% believed their college education prepared them
to get their first job
 Only 42% believed their college placement or career
guidance office prepared them well to look for a job
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11. What’s Happening to Recent College Graduates in Today’s Economy?
What Graduates Would Have Done Differently
Many would do something different if they were to do it again
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12. What’s Happening to Recent College Graduates in Today’s Economy?
Was College Worthwhile?
Most believe their education to be worthwhile
But 62%
believe they will
need more
education to have
a successful career
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13. What’s Happening to Recent College Graduates in Today’s Economy?
College Graduates’ First Job
Most students found a job related to their field of study
Only 52% said a
four-year degree
was required for
their job
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14. What’s Happening to Recent College Graduates in Today’s Economy?
Opinions about the First Job
Many graduates see their first job as a stepping stone to a career
But only 27% are
firmly started on a
career
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15. What’s Happening to Recent College Graduates in Today’s Economy?
Adjusting to Labor Market Realities
Many had to make accommodations to get their first job
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16. What’s Happening to Recent College Graduates in Today’s Economy?
First Job
Graduates were more satisfied than dissatisfied
with their first job
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17. What’s Happening to Recent College Graduates in Today’s Economy?
First Job Salaries
The recession affected salaries, so did…
Median Pay for Recent Median Salary
College Graduate
All Graduates $30,000
Pre-Recession 2006-07 $30,000
Recession 2009-10 $27,000
Did Internship $34,680
No Internship $28,000
Male $33,150
Female $28,000
Worked in grad area $34,510
Didn't work in area $28,000
First job very/somewhat $35,000
related
First job not very/not at all $25,000
related 17

18. What’s Happening to Recent College Graduates in Today’s Economy?
Stuck on Track
Their current jobs are not much different than their first jobs
Job Statistics First Job Current Job
Job Salary-Median $30,000 $32,000
Job is full time 97% 93%
Job requires a college
degree 52% 53%
Job paid hourly 50% 54%
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19. What’s Happening to Recent College Graduates in Today’s Economy?
Stuck on Track
Their current jobs are not much different than their first jobs
Job’s Relation to
Education First Job Current Job
Very closely 44% 37%
Somewhat closely 26% 21%
Not very closely 13% 20%
Not at all closely 17% 21%
Total 100% 99%
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20. What’s Happening to Recent College Graduates in Today’s Economy?
Financial Shape
Many graduates have debt
42% currently
have financial
debt other than
student loans, a
mortgage, or
rent
35% of those
22 to 25 report
being in debt,
compared to
51% of those
26 to 29 20

21. What’s Happening to Recent College Graduates in Today’s Economy?
Getting Help to Pay the Bills
Many accept financial help from their parents to pay for
living expenses
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22. What’s Happening to Recent College Graduates in Today’s Economy?
Expectations about Financial Success
Most think their generation will be less financially successful
than their parents
48% believe
they will be
more
successful
than their
parents
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