Half of College Graduates Are Working High School Level Jobs
According to a new study, almost half of America's new college graduates are winding up in jobs they didn't need to go to college to get. CBS News reports: If a graduate's first job is in a low-paying field or out-of-line with a worker's interests, it could pigeonhole them into an undesirable role or industry that's hard to escape, according to a new study (PDF) from The Burning Glass Institute and the Strada Institute for the Future of Work. Another study from the HEA Group found that a decade after enrolling in college, attendees of 1 in 4 higher education programs are earning less than $32,000 -- the median annual income for high school graduates. A college degree, in itself, is not a ticket to a higher-paying job, the study shows. "Getting a college degree is viewed as the ticket to the American dream," said [Burning Glass CEO Matt Sigelman], "and it turns out that it's a bust for half of students." The single greatest determinant of post-graduation employment prospects, according to the study, is a college student's major, or primary focus of study. It can be even more important than the type of institution one attends. Choosing a career-oriented major like nursing, as opposed to criminal justice, gives graduates a better shot at actually using, and getting compensated for the skills they acquire. Just 23% of nursing students are underemployed, versus 68% of criminal justice majors. However, focusing on science, technology, engineering and mathematics (STEM) subjects is not a guarantee of college-level employment and high wages, the study found. [...] Many college graduates remain underemployed even 10 years after college, the study found. That may be because employers seeking college-level skills also tend to focus on job candidates' recent work experience, placing more emphasis on the latest jobs held by candidates who have spent years in the workforce, versus a degree that was earned a decade prior. "If you come out of school and work for a couple of years as waiter in a restaurant and apply for a college-level job, the employer will look at that work experience and not see relevance," Sigelman said.
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