Now that fall graduation is over, many college grads are trading in their college sweats for three piece suits or casual shirts and khaki pants. Those who made the decision to work for a corporate bank or accounting firm will be wearing three piece suits – while those who made the decision to work for an ad agency or tech start up will be wearing casual clothes.
In 2014 many corporate banks and accounting firms spent a lot of time recruiting on college and university campuses. As a matter of fact the amount of time spent on recruiting was up by 25% from last year. The increase in recruiting is based on corporate businesses forecasting an increase in hiring for 2015. So did all this recruiting pay off? Yes, but not as much as many business analysts expected.
Although there was a lot of interest among this year’s college grad’s to work for large corporate businesses like Hewlett Packard, Ernst & Young, and Bank of America, a larger percentage of grads seemed to be more interested in going to work for smaller size companies. Their decision seems to have a lot to do with wanting to work in a non-traditional work environment. While it can be very prestigious to work for a large international accounting firm like Ernst & Young or for a major financial firm like Bank of America, these types of companies don’t typically offer a lot of job flexibility or a creative work environment. Despite the fact that Hewlett Packard has made a lot of internal changes over the past few years, the company is still struggling to attract young talent.
Another reason more college grads are choosing to work for smaller companies, is because they feel that there is less red tape to deal with in regards to promotional opportunities and being selected to lead projects. As someone who has worked for several large corporate companies, I can confirm that this is definitely true.
Many of this year’s college grads are also heading to California to work in the animation industry. Some of these grads actually changed their college majors during their junior year because they felt working for an animation studio would be much more interesting than working in corporate America. Although most animation jobs don’t initially pay as much as a corporate job, the tradeoff is getting a chance to work with creative people and on cool TV and film projects.
Another interesting thing to point out about this year’s college graduates is that quite a few of them didn’t want to work for anyone so they started their own businesses. Not sure what made them come to this decision, but if I had to guess I would say it has something to do with all the recent corporate scandals and business layoffs.