Companies are already using AI to decrease the number of entry-level roles they plan to hire. And with federal government layoffs and general uncertainty in the economy, graduating college students are facing an uphill climb as they enter the job market.
We teach at Harvard and Northwestern and we have found that even the brightest of graduates are struggling to find jobs. Although the current economic landscape is unique, it is not entirely different from difficult labor markets in the past. We remember ourselves what it was like to be newly-minted college graduates during the Black Monday stock market crash in 1987 and on the heels of the dot-com bubble crash in 2002.
Based on the research and coaching we’ve done with over 1,000 individuals looking for jobs, we have found that there are approaches job seekers can use to find work—even in a challenging labor market.
When you’re in college, what people actually do in different jobs and careers is often opaque. That was true for us. Formal job titles and the names of whole industries overwhelmed us before we had even explored what the day-to-day work was actually like.
But here’s something we’ve learned since: Companies aren’t just hiring people. When someone decides to work somewhere, they are also hiring their employer in return. As a result, workers are also the customers of prospective jobs. That means college graduates should learn how to shop for employment.
When shopping for a new product, it’s not enough to just look at the names and prices. Instead, we think about what it would be like to actually use the product—and whether it would help us make progress. Individuals might explore Reddit boards, scour reviews, and talk to friends who have dealt with similar challenges.
Job seekers should do the same. Don’t focus on the features of a job—the title, the pay, and so forth. Instead, focus on what you’ll do. What is the actual work and tasks? What pathways do different roles lead to? Where are the dead ends?
To learn about the daily work a job entails, we’ve found it’s best to talk to people who have the jobs we’re curious about. The key is to ask questions about what people do on a day-to-day and week-to-week basis. Then, decide if what they do lines up with the things that energize and drain you. That will help you learn and refine your search.
It will also help you meet people, which is crucial. Most individuals don’t land jobs by applying blindly to things online. They get them through their network—according to estimates, at least 50% and as high as 85% of roles are filled this way.
That is another thing we wish we had known when we were recent graduates: jobs don’t materialize because of how many applications you send out, or purely because of your resume. Most people find jobs by networking with people in the industries that interest them. That’s how it played out for both of us.
Finally, graduating students are often impatient—for success, money, titles, work-life balance, and more. But what recent graduates, of all generations, struggle with is how to make tradeoffs so that they can get a job. The hard truth is that a job is better than no job.
Yes, there are risks associated with accepting your first job offer. Research by Burning Glass Institute shows that roughly half of students are underemployed in their first job—meaning they take a role that doesn’t require their college degree.
The risk of doing so is that five years later, nearly 90% of those who undermatch are still underemployed. But at the same time, we can tell you from experience that there is no perfect job. Everyone—even the most successful CEO—has to make tradeoffs in their role.
Those who are successful in the job market learn how to embrace tradeoffs to make wise choices. In other words, they don’t settle. They are intentional about choosing what specifically is going to suck about their job so that they can get the things that matter most to them. To do that, individuals need to have a clear understanding of their priorities.
In the early stages of one’s career, job seekers should be willing to trade off things like prestigious titles for the chance to have a true mentor and get real hands-on experience where they can make an impact. Doing so can build confidence and a network. And employers value when applicants have demonstrated in work settings that they can get the job done well.
By acting like a customer, building your network, and making wise decisions about tradeoffs, recent graduates can start their careers on the best foot possible—even if the labor market is on shaky ground.
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