TOPIC QUESTION: “What are the challenges facing students for employment after finishing University?”
Some students that attend university think that once they graduate, a job will fall right into their lap; well that’s not the case. There are many challenges that students face once they leave higher education. These factors determine if you are employed or unemployed. The unemployment rate for youth Australians has doubled the national average and the competition to get a well paying job in good conditions is increasing (Healy, 2015). Some of the challenges graduates face are Debt and financial pressure, lagging career opportunities, lifestyle adjustments, Maintaining good credit and excessive demands. On top of these struggles graduates have to look at employment. Employees look for a degree, work experience, personal attributes and a good application. There are two main struggles students face getting employed, which is the economy and no work experience. Its one thing to have a degree and the knowledge but employees these days are worried it can’t be put into practice and are looking for people with more work experience over people with a degree.
The economy is a huge uncertainty. The only certainty is uncertainty. There has been a clear increase in people pursuing higher education. This has just let to the higher graduate unemployment rate. When the global economy is in recession unemployment rises. Due to this uncertainty of when it could hit, this builds up on the graduate’s shoulders as an issue facing them when they leave university. For example, the US subprime mortgage crisis was the cause of global financial crisis which led to a global recession. Taiwan was then secluded to the damage and results in industrial shutdowns, layoffs, and unprecedented unemployment. From this study it proved that the macroeconomic environment of the country effects the rate of university graduates’ employability (Wu, 2011). The higher education intake increase has also affected the labour market because now there is an excessive number of university graduates. Due to this the global recession’s next step from the unemployment rate is wage cuts. From this step graduates won’t apply for these jobs because they are below wage average or not up to their anticipated salary.
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From an employer’s perspective of the struggles of employment for graduates, it comes down to who’s the best. Most employers are taking people with more work experience over university graduates. This is because they have more interaction and experience with the routine of working full time and in a specialised field of work. People are finding that graduates are struggling with transition from university life into working five days a week for long hours, therefore making the people with experience more applicable. It was stated that “education for economic good’ is flawed, in that it ignores the intrinsic value of education to the individual – for personal fulfilment and growth” (Shaw,2012). This insinuates that there is more to employment then just education. As the labour market increases there has been a trend of new types of employment. Some types of employment are short and open. For these positions they are looking at people with experience over knowledge as the company wants to minimise the training process (Felfe, Schmook, Schyns, & Six, 2008). From these studies it shows that in some cases in modern society a degree is not necessary and work experience is valued higher.
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In conclusion, the two of the main struggles graduates face is the unemployment rate which is controlled by the economy and the important of their degree and lack of work experience. The economy can not be controlled nor predicted, leaving the unemployment rate free falling in air. Graduates also need to be less picky of their employment opportunities incase the economy goes into recession and they are then left with no job. They need to prepare for this by ensuring they have want employers want. This continues onto having work experience. Whilst students have been studying their competition has gained 3 or so years work experience on top of you. Graduates need to be investing time into gaining internships in their field of choice along side studying. This will give them more opportunity in the labour market. Gaining work experience will also help with the transitioning from the university routine to a full time job routine. This will shorten the gap of struggle for graduates and will be more admired by employers in todays industries.
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References
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Botelho, A. & Pinto, L. (2004). Students’ expectations of the economic returns to college education: results of a controlled experiment. Economics Of Education Review, 23(6), 645-653. http://dx.doi.org/10.1016/j.econedurev.2004.03.005
Brooks, S. (2014). 5 Key Challenges That College Students Face After Graduation. iGrad. Retrieved 2 October 2016, from http://www.igrad.com/articles/5-challenges-for-students-after-graduation
Felfe, J., Schmook, R., Schyns, B., & Six, B. (2008). Does the form of employment make a difference?—Commitment of traditional, temporary, and self-employed workers. Journal Of Vocational Behavior, 72(1), 81-94. http://dx.doi.org/10.1016/j.jvb.2007.10.008
Healy, J. (2015). Graduating into a weak job market: why so many grads can't find work. The Conversation. Retrieved 2 October 2016, from http://theconversation.com/graduating-into-a-weak-job-market-why-so-many-grads-cant-find-work-45222
Menon, M., Pashourtidou, N., Polycarpou, A., & Pashardes, P. (2012). Students’ expectations about earnings and employment and the experience of recent university graduates: Evidence from Cyprus. International Journal Of Educational Development, 32(6), 805-813. http://dx.doi.org/10.1016/j.ijedudev.2011.11.011
Shaw, A. (2012). The value of work experience in outcomes for students: an investigation into the importance of work experience in the lives of female undergraduates and postgraduate job seekers. Journal Of Vocational Education & Training, 64(2), 155-168. http://dx.doi.org/10.1080/13636820.2011.628756
Wu, C. (2011). High graduate unemployment rate and Taiwanese undergraduate education. International Journal Of Educational Development, 31(3), 303-310. http://dx.doi.org/10.1016/j.ijedudev.2010.06.010