What employers can expect from 2024 graduates
Graduation season is here again, meaning the latest set of graduates is gearing up to join the workforce.
These graduates are seeking jobs at employers that align with their beliefs and values, provide career growth opportunities, and have solid reputations – just like their older Gen Z counterparts. But with a few twists.
For instance, they are prioritizing stability over anything else, they’re resisting the former flashy allure of big tech companies, and considering lower-paying government jobs more, according to data from employment sites Monster, Handshake, and workforce intelligence platform Revelio Labs.
We delved into the data from all three of these companies to gain a deeper look at what will make these career-ready graduates tick. Here’s what you need to know.
Stability is top priority
This cohort of graduates started college in 2020 when the coronavirus pandemic was at its peak. That has directly influenced what they are looking for now: stability.
“This class in particular has experienced instability in the last four years,” said Christine Cruzvergara, chief education strategy officer at Handshake. “This is the class that has their first year of college disrupted and they had to figure out how to adjust. It’s not surprising how important stability is for them in their next chapter.”
They want to ensure that they do have that level of stability in whatever way makes the most sense to them. According to Handshake, while 67% of 2024 graduates are confident they can find a job that builds their career, more than half are concerned about covering basic expenses.
Luckily, Revelio Lab’s HR data shows that the graduating class of 2024 is entering a stable labor market, where entry-level job postings increased moderately compared to 2023. The number of entry-level job opportunities still lags behind the number observed in 2022, yet it is still well above the pre-pandemic levels.
But that doesn’t change their concerns. Compared to last year (88%), fewer graduates (82%) are confident they will receive a job offer shortly after graduating, according to Monster’s 2024 State of the Graduate Report. And while they may be somewhat confident about receiving a job offer post-graduation, 77% of graduates are concerned about job security while looking for a role in this current market. Almost half think they won’t be able to find a job at their preferred company.
Leaving tech jobs behind
According to Handshake’s data, the share of applications submitted to tech jobs declined by 2 percentage points between this year and last, from 23% to 21%. Mass layoffs at the big tech companies – ranging from Amazon to Google, Meta, TikTok, and X (formerly Twitter) – over the last year or so have not done wonders for their optics as stable employers. As such, tech start-up roles also haven’t seen a bump this year in terms of applications. Instead, 2024 grads are eyeing more legacy companies that have weathered numerous economic downturns.
Similarly, Revelio Labs’ data indicates a decreased demand for roles in finance, engineering, and technical support compared to last year. Some of the declining demand for entry-level technical professionals has been made up by demand to fill entry-level roles in sales, marketing, and HR.
And where tech job applications have declined, government role applications have increased, according to Handshake’s data. A total 7.5% of job applications from 2024 graduates on Handshake’s platform have been submitted to government roles – up from 5.5% for the Class of 2023.
“One part of it is the stability, with benefits quite strong in the federal government sector,” said Cruzvergara. “It is also the values they’re looking for. This generation is looking to do meaningful work and contribute in ways to make the world better. To help shift and change policy on some longstanding issues is a great opportunity for them.”
Employer reputation remains critical
Handshake’s data found that 75% of first-time job seekers read reviews of an employer before applying, and 73% would be more likely to apply after seeing additional behind-the-scenes content from an employer.
“They want to hear from current and former employees if it’s a place that will take care of you,” said Cruzvergara.
According to Monster, politics are a big issue: 67% of 2024 graduates would not work for a company that openly supports a political topic, issue or candidate they do not support themselves.
“They do not want to work for companies or CEOs that support opposing political views,” said Vicki Salemi, Monster’s career expert. “It’s becoming a larger factor in their job search decisions in whether or not they want to work for a job.”
Meanwhile, salary transparency is hotly sought after, with new job seekers saying they won’t pursue a job that doesn’t disclose this information in the job ad. In fact, Monster’s data found that 43% would ghost an employer.
“I think that’s compelling because in the past years, it was pretty unheard of for salaries to be included in the job description, and many times it wasn’t discussed until the very last stage of the job interview process,” said Salemi. “It just shows how the landscape has changed and expectations in that realm have also changed.”
They want to work in a hybrid setting
Despite what you may assume, Gen Zers, especially new college grads, want to be in the office at least some of the time. Monster’s data found that the majority of graduates are seeking a hybrid work model, with 60% reporting they would not apply to a company that is mandating a return-to-office five days a week. But on the other end, 59% said they would straight up not apply to a company that is completely remote.
“It shows the importance to employers for this new graduating class of the importance of flexibility in terms of where and when they work,” said Salemi. “They think the traditional work practices are outdated, but they want to be in the office at some point. That sweet spot is really hybrid.”
According to our state of flexible work, by the numbers, more and more data is showing that hybrid really is a true sweet spot, across generations but even more so for younger workers. The latest Workforce Monitor survey, commissioned by the American Staffing Association and conducted online by The Harris Poll, found that only a quarter (26%) of Gen Z want to fully work from home.
“For a lot of this class, they experienced what it’s like to do things fully remote but they didn’t have a choice,” said Cruzvergara. “They recognize the benefits of what you get when you are in person with folks to develop deeper relationships and to not feel as isolated when you’re suddenly in a new place or location.”