Maynard, MA, April 3, 2007--Continuing the strong hiring demand seen for last year's graduates, the class of 2007 will soon enter an even healthier labor market, according to MonsterTrak's annual nationwide survey of college students, recent graduates and entry-level employers. Among the findings, 76 percent of employers plan to hire 2007 graduates in the spring or summer, up from last year's 72 percent, and 38 percent expect to recruit more entry-level candidates than in 2006. MonsterTrak is the student division of Monster, the leading global online careers and recruitment resource and flagship brand of Monster Worldwide, Inc. (NASDAQ: MNST).
Survey findings demonstrate that seekers are confident as well--89 percent of prospective graduates expect to receive at least one job offer by graduation, while 74 percent expect two or more offers, a 10 percent increase over 2006. However, despite strong demand for graduates, seekers shouldn't feel too entitled in their job search:
-- Employers anticipate 73 applications on average for each
available entry-level position.
-- Sixty-three percent of employers indicate 2007 entry-level
wages will not increase over last year's earnings.
"This year's MonsterTrak survey demonstrates that while demand for talent is on the rise, employers remain confident they will have a large number of candidates to consider for each open position," said Julie Goldthwait, vice president and general manager, MonsterTrak. "Consequently, rather than increasing wages to attract entry-level candidates, employers are implementing practices that help attract talent at earlier stages, such as growing their internship programs."
"Boomerang" Graduates
Upon graduation, 48 percent of prospective graduates plan to "boomerang" and spend at least some time living at home, the same percentage as last year. Of this group, 22 percent expect to live at home for longer than six months. The remaining 26 percent, those who anticipate moving out quickly, may stay longer than expected--42 percent of 2006 graduates say they are still living with their parents.
Employer & Entry-Level Seeker Perceptions: Connects & Disconnects
Employers and graduates both perceive relevant work experience and personal characteristics, such as interviewing skills, as the most important factor in hiring recent college graduates. Both groups also consider a candidate's GPA least significant. Recognizing the fact that employers value relevant work experience more than a perfect 4.0 GPA, 78 percent of prospective graduates plan to complete one or more internship during their college career.
"The MonsterTrak findings have also uncovered a startling gap between job seekers' and employers' perceptions in regards to job-related priorities," added Goldthwait. "Employers perceive graduates' top motivators to be work/life balance opportunities and salary, while in reality, the survey shows that students are most engaged by fulfilling work and growth opportunities. This means entry-level seekers have a unique opportunity to stand out from the crowd by conveying to employers their true values and ambitions."
Moreover, employers cite lack of professionalism, such as tardiness or not sending a thank-you note, as the biggest mistake a prospect can make in an interview. Thirty-five percent of last year's graduates say they do not send thank-you notes after interviews - a simple act that, according to employers, can go a long way.
Networking Profiles and the Job Search
Of those surveyed, one-in-five employers check candidates' personal online profiles during the recruitment process. While 59 percent of 2006 graduates maintain an online profile, only 40 percent will modify the information when searching for a job, suggesting that entry-level seekers should realize the need to not only maintain their resume, but their overall online presence.
