Young workers expect more professional training opportunities to advance their careers, but are they getting them?
Four-in-ten working Millennials who graduated from college in the past two years give their career paths low marks, according to new research by Accenture.
Forty-one percent of the more than 2,050 Millennial respondents to Accenture’s 2013 College Graduate Employment Survey said they are underemployed and working in jobs that do not require their college degrees.
The survey also identified a significant gap between the expectations 2013 graduates have for employer-provided training and what they are likely to receive when they start working. More than three-fourths (77 percent) of pending 2013 graduates expect their first employer to provide formal training, but fewer than half (48 percent) of 2011 and 2012 graduates surveyed said they received such training in their first post-college job. Meanwhile, nearly-two-thirds (63 percent) said they will need more training to get their desired job.
Related story: Human resources professionals bemoan the sense of entitlement they see in working Millennials Click here to read more.
Increasingly disillusioned Millennials said they expect they expect they will need to pursue a graduate level degree to further their career. Forty-two percent of 2011 and 2012 graduates expressed this attitude, vs. 18 percent of this year’s graduating class. Twenty-three percent of 2011 and 2012 graduates also plant to take graduate-level courses or online courses to develop their skills.
One reason why Millennial college students may opt to enter graduate study may be the still struggling job market. The unemployment rate for Millennials is 16.2 percent, more than twice the national average. Only 16 percent of students who will graduate this year said they had already secured employment.
Further, to secure a job in the current market, 34 percent of Millennials poised to graduate this year are prepared to accept their first job offer, while 27 percent would consider working in a different field than their college major. When asked why they were not employed in their field of study, 45 percent of 2011/2012 college grads said that it was taking too long to find a job, while 32 percent said there were not enough job openings in their field.
More than half of Millennials who graduated in 2011 and 2012 (57 percent) said that finding a job was difficult, but 39 percent did have jobs by the time they graduated and another 42 percent were employed within six months of graduation.
This year’s graduating class remains optimistic about its fortunes. Sixty-four percent of pending college graduates expect to be employed fill time in their field of study.
Donald Liebenson writes news and features for Millionaire Corner. He has been published in the Chicago Tribune, The Chicago Sun-Times, The Los Angeles Times, Fiscal Times, Entertainment Weekly, Huffington Post, and other outlets. He has also served as a marketing writer for Chicago-based Questar Entertainment and distributor Baker & Taylor.
A graduate of the University of Southern California, he is married with a college-age son. He also writes extensively about entertainment.