The staffing firm Walters People recently surveyed 1,000 new graduates’ who finished university in the last 18 months. Key findings have shown half of the graduates stated it has taken them up to six months to find a job after finishing their studies.

Recent graduates are entering the most challenging job market that has been seen in close to a decade, according to James Brown, Senior Manager at Walters People Ireland.

“A mixture of fewer vacancies, salaries that don’t match the cost-of-living and high competition bought about by access to remote and global talent is certainly playing a part in the time it takes new graduates to find a suitable job role,” says James.

“Added to that, we have seen a trend emerge amongst Gen Z’s who – potentially having witnessed their parents or older siblings work in a pre-pandemic corporate world – now place much more emphasis on the enjoyment of their job, the values and purpose of the company, as well as well-being and work-life balance – which is all leading to a longer time being spent on the job hunt.”

Key findings of the survey

• Half of graduates say it has taken them up to six months to find a professional employment since leaving university.

• Of those who have found employment, 53% say it isn’t at all related to their degree.

• 72% of graduates don’t feel they have ‘much of an edge’ on the job market.

• 45% don’t think their degree has armed them with the right skills.

• A further 20% think work experience would have been more useful.

Practical experience is more valuable

A surprising 45% of recent graduates feel that their degrees haven’t equipped them with the essential skills for success in today’s job market, while nearly 20% of them believe that practical work experience would have been a more valuable option.

Research conducted by Walters People reveals that the challenge of securing employment is not limited to graduates of specific university courses; it’s a widespread issue.

This raises the important question: what’s to blame for over half of graduates struggling to find professional employment – ‘rip-off’ degrees or a difficult job market?

“The purse strings are indeed being tightened by companies – which, in turn, means there is less to spend on training, and so for companies, work experience is far more attractive than a graduate with a degree and no experience,” says James.

Due to the market being as fragile as it is, James believes employers are looking for professionals who can hit the ground running.

Decreasing market value

Over a third, 39% of graduates, indicate that they think their degree isn’t at all valued by the market, with a further 19% of recipients feeling it isn’t as valued as they expected.

Large employment companies including Kellogg’s and Google have changed their traditional requirements for being degree-educated.With an increasing emphasis placed on diversity, more companies are recognising that they can attract candidates from varying socio-economic backgrounds if they do not put an undergraduate degree as a requirement.

What do graduates want?

For graduates in the survey, the most important factor, when looking for a job after graduating, is career progression (38%) and salary (35%). This was ahead of the role needing to be in a field related to their degree (15%) and wanting job stability (13%).

“Recent graduates have their eyes set firmly on progression,” says James. “As many will start in a company at an entry-level position, they want to feel secure in the knowledge that there is a clear path upwards and a salary scale to match.”