Survey Reveals Majority of College Grads are Underemployed

graduation capAccording to a new CareerBuilder survey, 51 percent of employed graduates from the class of 2014 are working in jobs that don’t require a college degree. That said, nine out of 10 mentioned college is worth the investment for the long-term and four out of 10 said college didn’t prepare them for the real world.

Let’s backtrack, shall we? For starters, 65 percent of the recent graduating class has found work whereas four percent are immersed in internships and 31 percent aren’t working at all. The 65 percent is comprised of 36 percent in full-time positions, 17 percent in part-time positions and 12 percent in temporary or contract positions.

As for the 31 percent not working, 43 percent from this population is currently actively looking for a job. It sounds like the remaining grads are either not actively looking or they’re attending or pursuing graduate school.

For the graduates employed at the moment, 51 percent revealed their job is related to their college major.

CareerBuilder broke it down even further. Women are more likely than men to be in full-time roles (numbers weigh in at 38 percent versus 34 percent, respectively). Women are also more likely to not be working (34 percent versus 26 percent). (We’re still trying to figure out how this data stacks up…maybe it’s just a case of the Mondays.)

And it’s no surprise that health care and STEM graduates are more likely to be employed in full-time roles than non-STEM peers. Numbers rank at 40 percent versus 34 percent.

The survey reflected the value of internships. That’s because young alums who previously held internships were more likely to hold a full-time position now than peers who did not have an internship.

Aside from all of the numbers, 87 percent of recent graduates do not regret their major and 89 percent think college is definitely worth the long-term investment.

Rosemary Haefner, vice president of human resources at CareerBuilder, explained in the press release:

“There was feeling among college graduates during and after the recession that their pursuit wasn’t worth the investment, but fortunately this class has a very optimistic outlook. The job market is on the rebound, and a majority of companies are again recruiting college grads.”

We need to acknowledge one more statistic: Returning to the empty nest. Dismissing the notion of this generation moving back home with mom and dad, 71 percent of the class of 2014 is not currently living with their parents.

For recent graduates who have moved back home, 63 percent to move out within a year. And one-third of the graduates cohabitating with mom and dad are being charged for rent or other household costs.

Publish date: October 14, 2014 © 2020 Adweek, LLC. - All Rights Reserved and NOT FOR REPRINT