What is the Job Outlook For College Graduates in 2020?
College graduates face the toughest market since the financial crisis one decade ago. With unemployment rates close to 15%, the outlook for college graduates doesn’t appear as rosy as it was just one year ago.
25% of companies that sent job offers to college graduates said that they will rescind the offers sent to graduates.
Sounds terrible, right?
Let’s flip the switch.
At Tech One IT, we work with technology graduates every day as part of our Technology Apprenticeship Program (TAP). Our experience during this time is not matching what has been reported, so we decided to look at the current outlook from a slightly different angle than that being currently reported.
If 25% of hiring companies will rescind the offers sent, 75% still intend on hiring as expected.
In a recent survey to measure the impact of COVID-19 on hiring companies, Arizona State University found, of the full time offers that were extended to the class of 2020:
25% of the respondents have said there is no impact
21% have said that the starts will be delayed
26% will continue with offers but will have them start in a virtual format
College graduates are a great choice for hiring during uncertain times.
The Technology Apprenticeship Program (TAP) is made up of recent graduates working for Tech One IT and placed in apprenticeships with companies ranging from start-ups to Fortune 100 businesses. The COVID-19 epidemic has not affected their workload in any way. During college they took classes online, they have worked from loud coffee shops and dorm rooms, and even during road trips. They are adaptable, easily focused, and dedicated to specific goals. College graduates can move from remote working to in-office setups and anywhere in between without issue.
Technology will speed up the solution to our current crisis!
Of course, we are holding our collective breath that a cure is found soon and the medical field leads the charge, but the technology industry is our best hope for speeding up the distribution and tracking its results.
Every business relies wholeheartedly on technology, so while there is a slowdown of hiring right now, technology will be a front of the line as the job market picks up.
College graduates are a more reasonable option for hiring companies.
Entry-level salaries are expected to be around $5,000 less than last year. This is not great news for a college graduate, but Tech One IT is a more affordable option for hiring companies while providing excellent opportunities for graduates.
In addition to their salary, TAP students also receive career coaching from Tech One IT throughout the program as well as professional technology coaching from their team leaders. They also have the benefit of working on some of the nation’s most forward-thinking technology projects. Of course, they may receive a full-time offer of employment at the end of the program as well as the experience needed to enter the workforce.
“While working at Tech One’s Apprenticeship Program, I was able to take part in the annual Hackwars, where my team and I took home second place out of almost 100 teams for our idea to better the company!” – Leif Swanson, QA Automation Engineer (TAP)
The Tech One IT Technology Apprenticeship Program (TAP) is a recommended initiative by career services teams at universities, colleges, and trade schools. Interested in learning more about the Talent Apprenticeship Program from Tech One IT? Please visit: https://techoneit.com/technology-apprenticeship-program/