Reasons Why Graduates Have Trouble Finding Jobs
It?s natural to question whether going to college is worth the time and money when a person can simply start earning a paycheck right out of high school. However, research from the Federal Reserve Bank of New York shows that a four-year degree remains a wise long-term investment for the average person.
- Data from American workers indicate that the cost of attending college turns out to be much less than the cost of tuition and lost wages during the four years of college.
- Average college graduates who pay $20,000 yearly (or $80,000 for a four-year degree) will recover that money by the time they turn 40 years old.
- After age 40, the investment continues to reap even more rewards as a college graduate?s earning power increases.
- By the time average college graduates retire, they will have made more than $800,000 than if they had only graduated from high school.
However, staying in college a fifth year decreases lifetime wages by $85,000. Two years means a lost $174,000.
Why Aren?t College Graduates Getting Jobs?
Many college graduates are unemployed or underemployed, working in jobs they feel they are overqualified for. Why, and what can they do to change it?
- Employers say new grads are unprepared (unskilled) and lack interpersonal communication. Students should do more internships while in college and focus more on how they can benefit a company instead of how a company can benefit them. Students should also be more selective about which colleges they attend. They should ensure the school of their choice can educate them as needed. And it?s never too late. Students who have graduated without necessary skills can take training or certification classes.
- They?re young and transitioning. No matter the job market, it simply takes time for young people to establish themselves. Finding a job is harder than keeping one.