February 21st, 2009
Everyone’s wondering how our second year students are faring in this terrible job market. We don’t have exact data on every student, but we estimate the following:
40-50% have accepted a job
10-20% have an offer
5-10% plan to start a company
20-45% are seeking
My sense is that this year’s numbers are actually similar to last year. The main difference is that the majority of seekers this year are considerably more anxious about their job prospects (which is completely understandable given the state of the market). Although the economy began to crash last March with Bear Stearns’ demise, last year’s class was not affected as 94% had offers at graduation and 98% had offers by 3 months after graduation.
Given the state of the market, I’m not expecting us to hit those numbers this year. Back in 2003, about 80% had offers at graduation. It could be pretty comparable this year. For those who graduate without a job, we continue to support them throughout the summer and even beyond, as necessary.
By the way, it’s completely different for first year students. Each year, almost every first year gets a summer job (even back in the last recession). And many of those job offers close in May. So if you’re a first year, don’t fret.
Do the above class stats surprise you?