4 reasons to rethink college to career

4 Reasons to Rethink College to Career

by Sheila Curran President & Chief Strategy Consultant

Curran Consulting Group

© Curran Consulting Group. All rights reserved. 4 Reasons to Rethink College to Career

The 4 Reasons

Students Employers

Government Higher Ed


Students Do colleges and universities meet student expectations for career preparation?


Students (Expectations)

Students want College to Lead to Better Jobs


Students

50.00%

55.00%

60.00%

65.00%

70.00%

75.00%

80.00%

85.00%

90.00%

1 2

1976: 67.8% incoming freshmen go to College to get a be=er job

2012: 87.9% incoming freshmen go to College to get a be=er job

Students Face a Poor Job Market

© Curran Career Consulting. All rights reserved. 4 Reasons to Rethink College to Career

Students

5

5.5

6

6.5

7

7.5

8

8.5

9

9.5

2008 2009 2010 2011 2012 2013

Unemployment % of College Graduates Aged 20-‐24 Yearly Averages: 2008 -‐ 2013

Source: Bureau of Labor Statistics, Table Ten, Unpublished

Reality for New Grads

© Curran Career Consulting. All rights reserved. 4 Reasons to Rethink College to Career

Students

•  The job market for new, young grads has been tough for five years and shows no sign of imminent improvement

•  Approximately 37% of new grads are believed to be mal-employed—employed in part-time positions or positions not requiring a college degree

•  For significant numbers of students, the path from college to career is unclear

•  Many students start the job search too late and do not see value in their college’s career services

Employers Are students prepared for the work world?


Employers (Disappointment)

Students are Unprepared for Job Search


Employers

“ Thirty one percent of employers indicated that recent graduates are unprepared or very unprepared for their job search”

Source: The Role of Higher Education in Career Development: Employer Perceptions, The Chronicle of Higher Education and American Public Media’s Marketplace, December 2012

Students Can’t Do the Job


Employers

Source: The Role of Higher Education in Career Development: Employer Perceptions, The Chronicle of Higher Education and American Public Media’s Marketplace, December 2012

Only 16% of hiring decision makers say college grad applicants are “very prepared” with the knowledge and skills they would need to do the job.

Government •  Are students getting value for money from

Higher Education? •  How can Higher Education be more

transparent?


Government

Government Scrutiny


Government

•  In 2001, annual tuition was 23% of household income; in 2013, it was 38%

•  Average student loan debt in 2012 was 29.4K

•  More than one in 7 borrowers with federal student loans went into default within 3 years of graduation

Government Action


Government

•  Gainful Employment Initiatives

•  The College ScoreCard

•  President Obama’s planned College Rating System

How many colleges and universities have sufficient data to prove the value of their education and outcomes to students, parents and the government?

Higher Ed •  Career outcomes affect matriculation, alumni

engagement and fundraising •  Good career outcomes may impact reputation

and even survival


Higher Ed (Under Pressure)

Higher Ed Gives Itself an A


Higher Ed

97% of college and university presidents believe it is somewhat or very important that graduates are able to get a good job. 96% of chief academic officers believe their institution is either somewhat effective or very effective in preparing students for the world of work

Higher Ed’s self perception is very different from the perception of graduates and employers:

DOING NOTHING ABOUT ENHANCING CAREER OUTCOMES IS NOT AN OPTION

4 Reasons to Rethink College to Career

Students Increasingly want College to lead to better jobs, but

many colleges are ill-equipped to help them

Employers Believe new graduates are neither prepared for the job

search nor the jobs they want

Government Seeks greater accountability and transparency on career outcomes from Higher Ed

Higher Ed Will face increased scrutiny and regulation if it does not

act to enhance career outcomes


Higher Ed Needs a Plan to Rethink Careers


Higher Ed

•  DO A STRATEGIC OPPORTUNITY ASSESSMENT

•  MAKE CAREERS an INSTITUTIONAL RESPONSIBILITY AND PRIORITY

•  DEFINE & IMPLEMENT QUICK WINS AND A LONG-TERM STRATEGY

Imagine a Better Future for Your Graduates: Transform Careers on Your Campus

Contact: Sheila Curran, CEO and Chief Strategy Consultant

Curran Consulting Group CurranonCareers.com


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