This fall, the class of 2023 will enter their final year of college
with a range of experiences under their belt: a global pandemic, an
unprecedented shift to remote instruction (and back again), the Great
Resignation, and rising inflation. Given a
steady stream of news around a potential recession
and a possible
contraction
in hiring, how will the newest cohort of college jobseekers respond?
To find out, we asked the incoming class of 2023 how they feel about
the economy, what actions they’re taking to land a job, and how
confident they are about securing a meaningful, well-paying job.
We found a group
anxious about the near term, but
optimistic about their long-term future.
Worries about money and stability pervaded responses to every
question, even as the group by and large expressed a positive outlook
about what is ahead.
Read the report
Key takeaways
-
The class of 2023 is worried. Half the class of 2023 said
the current economic news has
affected how they feel—and act—regarding their future career
prospects.
-
The class of 2023 is applying to more jobs, sooner.
Not only is economic uncertainty motivating about half of this
class of graduating seniors to apply to more jobs, but about one
third are planning to apply to a more diverse range of jobs, and
one fifth are planning to start their search sooner.
-
The class of 2023 is mindful of industry news.
News of lay-offs and changes in hiring in the tech sector is being
noticed: as of August 1st, cumulative full-time job postings by
tech employers on Handshake fell below the number of postings from
the same point in time last year—and our respondents took
note.
-
The class of 2023 is seeking stability and salary.
Driven by inflation and concerns around layoffs, an overwhelming
majority (74%) of this year’s future grads say they prioritize
stability and salary from employers, far outweighing factors like
a known employer brand (41%) or a fast-growing field (39%).
-
The class of 2023 prefers hybrid work—and for the right job,
they’re willing to relocate.
More than 3 out of 5 respondents prefer to work in a hybrid
environment, and two-thirds say they would be willing to change
cities for the right job.
-
The class of 2023 still has high hopes for their career.
Despite describing themselves as anxious about the economy, over
80% believe they can find a well-paying and personally fulfilling
job, and 87% believe this job can be in a field they are
interested in.
Anxious, but optimistic: the class of 2023 forges through their last
year in college.
