With the recession hitting the pockets of the majority of U.S. citizens, one would think it would be time to buckle down and get a job wherever possible -- save money and weather the storm. However, recent college grads are turning their back (and up their noses) to the low paying jobs that ARE available because the more lucrative and appealing jobs which they desire and have worked so hard for these past 4 -5 years are just not there.
Most are hedging their bet that the economy will turn around and that opening for "Marketing Director for the Devil Wears Prada 2" will fall right in their lap.
Who wants to serve tables when you can get a non-paid internship at your local folding newspaper while studying for your MA in Communication Theory? Here’s to accumulating more debtucation… until the economy turns around, of course!
Debtucation
Recent Grads Snub Low Pay Jobs, Wait Out Recession at School
Trend Themes
1. Job Dissatisfaction - As college graduates turn their backs on low-paying jobs, there is an opportunity for companies to create new and innovative job positions with better pay and more appealing benefits to attract and retain the best talent.
2. Demand for Internships - With more graduates pursuing non-paid internships, there is a chance to create an online marketplace for internships that connects employers with potential interns and simplifies the hiring process.
3. Debtucation - With college graduates accumulating more debtucation, there is an opening for financial institutions to develop innovative debt repayment plans that cater to the needs of new graduates.
Industry Implications
1. HR Technology - HR technology firms have the opportunity to provide cutting-edge recruitment and retention strategies to help companies attract the best talent and retain them for the long term in response to high job dissatisfaction among new graduates.
2. Edtech - EdTech startups can provide educational resources for interns and offer programs for companies to support interns, particularly for millennials constantly looking to learn and develop new skills.
3. Fintech - Fintech firms can create new products and services that help college graduates repay their loans, offering competitive rates and flexible plans to address the needs of a new generation of borrowers.