ZipRecruiter Report Finds Red Hot Job Market for 2022 College Grads
ZipRecruiter announced its 2022 Grad Report, highlighting a strong job market for new graduates with two job openings for every unemployed person. Key findings include a near 800% increase in signing bonuses and a shift in employer expectations, lowering experience requirements. Additionally, 90,000 job postings now offer student loan repayment assistance. Despite the optimism, only 1% of internships are remote, presenting challenges for graduates. The report emphasizes that college graduates can earn 59% more than high school graduates, reflecting favorable conditions for new entrants.
- Job market shows two openings for every unemployed graduate.
- Signing bonuses increased nearly 800% in recent years.
- 90,000 job postings offer student loan repayment assistance.
- Employers are lowering experience requirements for entry-level jobs.
- Only 1% of internships are remote, limiting opportunities.
- Graduates face increased competition for remote job positions.
Employers are rolling out the red carpet to grads with signing bonuses, remote work options, and vacation stipends
“Young people spend a large share of their income on food, rent, and gas, so inflation is hitting them hard. But new grads are well-positioned to go after job opportunities now that can set them up for long-term success,” said
Report highlights include:
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The Pandemic Has Lowered Barriers to Entry for Recent Grads – To combat labor shortages, employers have lowered the experience requirements for millions of roles, making new graduates eligible for jobs that were once out of reach:
9% of job postings in 2022 listing a bachelor’s degree requirement vs.13% in 20183. -
Workplace Benefits New Grads Love—and Where to Find Them – The two-thirds of new graduates who borrowed for college have about
4 in student loan debt, on average, and employers are taking note. 90k job postings now offer student loan repayment as a perk5.$28,400 -
Internships: The Missing Rung on the Post-COVID Opportunity Ladder – The traditional internship model needs to change in the new world of remote and hybrid work. Currently,
1% of all internships nationwide are remote6 and many programs remain on hiatus, leaving key learning opportunities for developing job seekers on the table. -
Show Me the Money: Expectations vs. Reality – Those who successfully complete a college degree can expect a wage boost, with new college grads earning
59% more than workers with only high school diplomas7. College grads are also underselling themselves with the ability to command more than they expect to earn8.$10 k -
What New Graduates Want in a Job – There is a clear generational divide in the workforce, with first-time hires caring substantially more about learning opportunities and diversity and inclusion efforts vs. traditional perks like retirement. Interestingly,
21% of first-time hires said they prioritized finding a low-stress job as part of their search efforts9. - Why Younger Workers Want Remote Work – Working remotely allows young people to save on transportation costs and rent by living at home, or allows them to combine a full-time job with freelance or gig work.
“More than 6 in 10 job seekers want remote jobs, but only 1 in 10 jobs is remote10. So if you’re applying for remote jobs, expect more competition and send more applications. If, on the other hand, you’re prepared to work in an office, the odds swing to you,” said
The report also details the hottest job markets in the
To view the full report, including additional data insights and methodology, please visit: https://www.ziprecruiter.com/grad-report.
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4 2021 CollegeBoard Trends in Student Aid 2021 report
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8 ZipRecruiter’s 2022 Grad Report, pulled from internal data pulled from
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11 Based on job seeker app ratings, during the period of
12 Based on G2 satisfaction ratings as of
View source version on businesswire.com: https://www.businesswire.com/news/home/20220525005344/en/
Corporate Communications:
Chief Economist,
press@ziprecruiter.com
Source:
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