In Demand
Still, many graduates are finding jobs in their career fields, particularly in high-demand areas such as engineering and education, according to the New York Fed’s analysis of Census Bureau data.
At Syracuse University, 63 percent of graduates found full- time work in 2012, up from 60 percent in 2010. Ninety-one percent of those reported working in roles related to their career goals, compared with 87 percent in 2010.
“We’re just inching forward each year, getting a little bit better,” said Mike Cahill, director of career services. “We’ve made some steady but small gains over the last five years.”
Salaries have stayed fairly steady over that time, though Cahill said he’s starting to see some increase.
Facing limited prospects, graduates are finding they have to seek alternative ways to land a position that suits them.
After graduating from Syracuse last month, Emily Pompelia, 22, decided to take a 10-week paid internship with a Washington consulting firm rather than pursue a permanent position at companies that she said interested her less. Her friends have similar sentiments.
Job Hunting
“We’re willing to do whatever it takes to get a job right now, because we know that it’s competitive,” said Pompelia, from Ligonier, Pennsylvania.
One metric that is rising is average student debt. Graduates of the class of 2012 who took loans for bachelor’s degrees owed an average of $29,400, according to the Institute for College Access & Success, an Oakland, California-based nonprofit group. The level of debt represents an average annual increase of 6 percent from the $23,450 incurred by borrowers who graduated in 2008.