Increased Competition for Job Positions
Graduating seniors at Maryland are entering an improving, extremely competitive entry-level job market where experience is key, according to labor research company Challenger, Gray & Christmas's college graduate job outlook report.
The report cited 36 consecutive months of private sector employment growth as a reason for optimism, but characterized job growth as slow and steady.
About 1.8 million students nationwide will graduate with bachelor's degrees this spring. Graduates will be competing with their own group, in addition to those who graduated in the last five years.
Senior English major Daniel Perez will be working as a production assistant after graduation, but wants to break into the entertainment industry as a screenwriter or movie maker.
Perez realized the competitiveness of the industry when he sent an email and resume to about 20 nearby production companies last spring and only heard back from five. He wanted to gain experience, and started interning at Double R Productions in Washington, D.C. before they offered him a job after graduation.
Experience is especially important for new graduates because of competition with older recent graduates. Those who entered the workforce in the last five years often already have experience in their field, making it more difficult for new graduates, according to the report.
Senior finance major Blake Harris said the job search "was really stressful last semester." He wanted to find a job in the fall because certain firms only hire during first semester, he added.
Harris will work at Fannie Mae starting in August, and is part of a two-year finance program for new graduates. A member of the co-ed business fraternity Alpha Kappa Psi, Harris added he was aided by referrals from other members who already worked there.
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