With the current figure of 25% graduate unemployment a terrifying prospect to all, news that the graduate jobs market is ‘tough competition’ seems blatantly obvious. Given that one in four graduates will inevitably return home to their family, live on parental income and begin a depressing job search that may last more than six months, many students are living with a niggling fear of what their future might look like.
Optimists might look at the glass half-full and reason how the figure indicates that 75% of us will be employed six months after graduation (64% for us York graduates). To get the job of our dreams, it could be reasonable to assume that all you need to do is remain in that top 60% or so. But what this figure is telling us is that 75% of graduates will have a job six months after graduation. This includes working the till in a supermarket, waitressing in a café, or pouring pints in a pub, and it doesn’t even have to be full-time. The percentage of recent graduates in full-time graduate positions, let alone in their desired sector, is much, much lower.
Some of us have parents who are able (and willing) to support us while we hold out for our dream job. But most of us don’t, or are unwilling to return to a state of pre-university dependence. I know of one recent York graduate who is about to finish her masters at Warwick University. Her ideal job is to work in international peace keeping. Currently, she is interviewing for graduate positions at Nestlé, the confectionary company.
One student I met recently is studying investment banking at Lancaster. Perhaps unsurprisingly, it is not leading to a job in investment banking. Instead, he is looking at work in the finance department of non-financial firms. The difference between Goldman Sachs and these jobs is kind of like the difference between Chanel and Marks and Spencer in the fashion world.
More and more of us are taking what we can get, rather than what we really want. It makes one common application form question, ‘why company X, Y, OR Z?’, inspire particular falsity. The correct answer is to proclaim yourself ‘passionate’ about all the things in the company’s self-description, while pretending as if this is the only firm you have applied to, rather than the generally more accurate answers: ‘because there is 25% graduate unemployment and I need to maximise my chances of a job/I want to live and work in London and I don’t care what I do/every other company has rejected me and you’re my last resort’.
These strategies can turn against you, though. The worst feeling is when you’re unsuccessful in applying to a firm you’re actually passionate about, and you know that those who have been successful are probably less passionate. At the end of the day, it’s not really about passion; as a graduate you are ranked according to your degree, university and extra curriculars and matched to a suitable position. Even in these times, Oxbridge candidates will be welcomed with open arms by almost all graduate recruiters. Unfortunately for us, York’s name does not open quite so many doors.
It makes for desperate and depressing job seeking. Even our own University careers service advises us on its website to ‘be realistic’ about our job prospects. Read: better a rubbish job than Job Seeker’s Allowance. Economists call this particular period ‘structural adjustment’, as there is some short term pain while the economy readjusts for long term gain. Maybe this period is inevitable and will lead to a stronger and better structured economy but for now this uncertainty is our future and the adjustment is to our lives.
Perhaps the graduate who is passionate about journalism but lands an insurance job will develop a love for insurance. Perhaps it will lead to exciting forays into financial journalism. Or perhaps they will be stuck for the rest of their lives in a job they despise, living for weekends and four weeks off a year. In these circumstances the job market is a gamble and the most we can do is increase our chances. As an anxious second year in the middle of internship applications, let me assure you that it is never too early to try to jump on to the corporate ladder.
First year is one of three years of your university career, and does count. All applications ask you for your current level of achievement and require a 2:1 minimum. If there’s a career you’re passionate about, start looking for work experience. You need work experience to get a penultimate year internship, and an internship to get a graduate job. Get involved in extra-curriculars. It shows you’re committed, organised, and interesting. Don’t delay and just get on it. Your future self will thank you for it.