A whole new world: New graduates must re-examine their expectations

This year's new college graduates can expect a modest improvement in job opportunities. However, employers are advising new graduates to re-examine their attitudes and expectations about initial high-paying positions and quick climbs up the corporate ladder. This and other advice is reported in the annual Recruiting Trends 1994-95 survey conducted by Career Development and Placement Services at Michigan State University.

Questionnaires for the 24th anniversary edition of the Recruiting Trends survey were sent to 4,145 employers representing businesses. industries. and governmental agencies throughout the United States. Replies to this year's survey were received from 13.4 percent of the surveyed organizations.

For the second consecutive year, surveyed employers are optimistic that new graduates can anticipate a slight improvement in the job market. During the previous four years, demand for new college graduates had declined.

Although new graduates will face a persistently tight job market, an increase of 5.9 percent is projected by 545 employers reporting hiring intentions for 1994-95. This increase, combined with the slight progress reported last year (1.1 percent), is respectable compared to the more than 30 percent decline in job opportunities new college graduates experienced from 1988 to 1993.

When the economy is growing at a healthy pace, companies throughout the United States are growing, expanding, and creating new jobs. Consequently, new college graduates a essential. But a slowed economy, coupled with increased efficiency of operations in most organizations, demands fewer new college graduates to maintain desired employment levels. Uncertainty about the overall economy is creating skepticism among business, industry, and government employers.

Doubts continue about economic expansion occurring anytime soon so employers are poised to launch another round of restructuring, reorganization, downsizing, and re-engineering. Regardless of the name, the results are the same for new college graduates: limited job opportunities.

Almost unanimously employers said there is a greater supply than demand for new bachelor's graduates. For new master's, MBA, and doctoral degree graduates, employers reported a more solid job market. The pattern for new college graduates during the past several years has been relatively stable, although the number of available jobs has been reduced in all categories--except during the past two years. Demand is highest for engineering, nursing, computer and information services, sales and marketing, and physical sciences.

New college graduates face difficulties finding jobs, according to college career services professionals. But according to human resources executives, new college graduates are their own worst enemies. Employers say new graduates expect to get too much money; they don't want to spend time in apprenticeships; they are unwilling to start at the bottom of an organization; and they regularly lack interest and enthusiasm for assignments (described as "the hunger factor").

On the other hand, successful job applicants are those who understand the employers' needs and identify solutions for the employers' problems.

Employers also say teamwork skills, communication skills, practical work experience, and fluency in a foreign language offer advantages for college graduates in today's job market.

What follows is THE BLACK COLLEGIANS summary of the job outlook in several broad industry categories, with comments from recruiters and other industry professionals. We've also included information on career strategies that industry recruiters recommend, and profiles of successful African Americans in several industries.

Accounting/Public Accounting

Industry Description: The accounting industry prepares and analyzes financial reports and audits that provide clients with the information they need to make financial decisions.

Job Outlook: Employers in Recruiting Trends predict a 4.7 percent rise in the number of jobs in accounting/public accounting firms available to new college graduates. According to Dennis Reigle of Arthur Andersen LLP, there is a high demand for accounting, finance, and information systems skills. Betty Maple of DeLoitte & Touche says accounting firms expect to fill audit tax positions. She adds that prospects are good for MBA grads in management consulting.

Professional Comments:

Dennis R. Reigle, managing director, recruiting and university relations, Arthur Andersen UP:

"My assessment is that the outlook for graduates in accounting, finance, and information systems will be steady or slightly expanded in 1995 over 1994. The industry is healthy, and with the economy growing there is a continuing need for top-flight talent. There is, however, increasing sentiment that applicants must be able to deliver more and higher quality service earlier after their hire date, and many employers are looking carefully at master's degree holders and people with prior experience."

Betty Maple, national director of diversity, DeLoitte & Touche LLP: