Career Advice for College Grads
It’s college graduation season, and unfortunately, new grads are facing a murky labor market. Although the unemployment rate stands at a still-respectable 4.2 percent, below the surface, all is not rosy. The Federal Reserve Bank of New York reported that at the end of the first quarter of this year, the unemployment rate for recent college grads (ages 22-27) was 5.8 percent, up from 4.6 percent a year earlier, and more than two percentage points above the pre-COVID rate of 3.6 percent five years ago. Separately, the National Association of Colleges and Employers found that hiring expectations have dropped from its fall survey.
Given this backdrop, I decided to crowdsource career advice from workers in their 20’s, 30’s, 40’s and 50’s (in italics below) and then follow up each of these pearls of wisdom with an Aunt Jill (“AJ”) coda.
Advice from ages 25-35:
Corporate Attorney: “Do as many practice interviews with your career center as you can, especially tailored to each type of position you’re interested in.”
AJ: In an era of Zoom interviews, it is important to practice both remote and in-person interviews. I recommend finding an assortment of interviewees, who will put you through your paces.
Small Business Owner: “Your first job doesn't have to be your identity or dream job! Benefits are a big deal. Great health insurance and a 401(k)? Sounds great.”
AJ: It’s tempting to focus on salary, but benefits can be worth thousands of dollars. Yes, you can stay on your parents’ plan until age 26, but one big step towards financial independence is covering this need on your own. Additionally, a matching retirement plan contribution can be a great boost to your long-term savings.
Consultant: Your first years don’t define your career, this is a long game. You simply cannot have it all figured out yet (10 years later I still don't), and you’re not behind. What matters more than early wins is how you observe/grow, how you build your story, and how you create good habits that scale with you over time.
AJ: The Labor Department found that baby boomers held an average of 12.7 jobs from ages 18 to 56, and that number is only likely to increase for younger workers. Your goal should be to take something away from each experience that will help you thrive in the next one.
Recruiter: “The path is not linear. You may think that you are destined for a specific course, and it could feel great for a few years, but that path could change and THAT IS OK. Don’t panic if that happens.”
AJ: I am a prime example of someone who has zigged and zagged in a career. A commodities trader-turned financial planner-turned media talking head is not exactly a linear career, but I can attest to the idea that there are many paths that are available to you. Try to open yourself up to something you may never have considered.
Advice from ages 35-45:
Non-Profit Development Professional: As someone who graduated in a bleak economic moment (2009), my advice is to take any job in your field or at an organization you admire: getting a foot in the door (and getting your resume started!) is more important than a glamorous or perfect first role. Be ready to grind it out at a less than perfect first job for a year or two before you leave the company. The experience, even if it is a bad one, will be useful.
AJ: While there are always aspects to a job that you won’t like, that’s a lot different than figuring that the job (or career) itself leaves you cold.
Television Producer: Say yes to opportunities that come your way. You might come across a job, or assignment that you don’t think you like, or want to do, but you might end up learning valuable new skills and meeting mentors who help you down the line.
AJ: This was a refrain from so many folks that responded to my request for this article. Saying yes can open doors and create new opportunities.
Educator: In a world full of AI-generated everything, your greatest asset is still your authentic self.
AJ: I have been thinking about A/I, as it pertains to recent grads, and it brings me back to a time when we were worried that spreadsheets would kill the accounting profession. As is the case with most new technology, the goal is to dive in and figure out how it can enhance what you do, not run from it, for fear that it will replace you.
Advice from ages 45-60:
Financial Planner: Talk to people whose work you find interesting; ask about their own paths and how they got where they are. They may not be in a position to hire you, but they may be able to make introductions that will lead to real opportunities.
AJ: What’s the one commodity you have when you don’t have a job? TIME! Fill that time by seeking out conversations like these, which may help provide you with direction and also create a connection with someone who might help you in your career.
Radio Anchor: Follow up with your introductions, writing a thank you note to someone who has gone out of their way for you can make a difference.
AJ: I may be old fashioned (who, moi?), but I think that it is vitally important to follow up with anyone who has helped you out on your career journey. A thank you note is better than a LinkedIn note to show your gratitude, it’s also a great way to build your own network.
Business Owner: Be eager to get involved and volunteer for extra projects, even in areas that might not be your interest. You will be surprised by what you learn, the people you will meet and how it will help you in the long run.
AJ: When I first arrived at CBS news, I had never worked at a large company before. When I volunteered to help launch the company’s first-ever LGBT employee networking group, I met people from different locations and divisions, which helped me develop my internal network.
Finally, this piece of advice is worth remembering for all of us who are in the labor force. Most of the time your job is simply a place that provides you money, it gives you the means to live. But your purpose doesn’t have to come from your job. When you find fulfillment outside of work, you’ll enjoy your career a lot more.