Universum’s Expertise Analysis research reveals younger folks within the US are prioritizing compensation and safe employment as they face a slowdown in hiring.
NEW YORK CITY, USA, July 18th, 2023 – Universum’s Expertise Analysis research exhibits US faculty college students are shifting their priorities – trying to find excessive future earnings, job stability and work-life steadiness above all else within the coming yr. And for US laptop science majors particularly, who’re coming into the workforce amidst information of hiring freezes and layoffs in tech, stability is the highest precedence.
“Within the US, college students are moderating expectations as a result of they’re confronted with a considerably tougher job search than their friends skilled in 2022,” explains Kortney Kutsop, Managing Director Americas. “With prime gamers within the expertise market both slowing or freezing hiring, lesser recognized firms now have a gap to draw prime expertise in sought-after fields.”
Universum, the worldwide chief in Employer Branding, surveyed over 57,000 college students from america. The Universum Expertise Survey (also referred to as the Profession Take a look at) is distributed by greater than 300 US universities by their profession facilities in addition to through partnerships and social media. Annually, college students share their opinions and views on their profession objectives, aspirations and perceptions of 200 employers.
Employers get listed on the survey based mostly solely on pupil nomination. There isn’t any price for collaborating and employers can not nominate themselves to be included. Annually college students point out which employers they assume are most related on campus and this suggestions types the premise of the checklist of firms the scholars are requested about. From this checklist, college students choose employers that they’re contemplating working for and establish as much as 5 superb employers per subject of research. These pupil candidates then present detailed perception on the place they’re studying about an organization, their most well-liked communication channels, what they consider the corporate as an employer, their perceptions of the corporate’s tradition, repute, method to D&I, work surroundings and extra.
Notable findings from the 2023 US analysis embrace:
College students rethink “superb employers” for 2023: US engineers are nonetheless strongly centered on innovation – looking for out employers like Lockheed Martin, SpaceX and Boeing – whereas US laptop science college students are looking for job safety after extensively publicized Massive Tech layoffs. This retreat to safety presents a gap for financially steady however much less well-known firms to entry prime tech expertise.
College students drawn to conventional industries: Given financial uncertainties, college students are prioritizing industries which can be extra steady and financially safe. For instance, banking is up amongst enterprise college students, and administration consulting has elevated amongst laptop science college students.
High quality of life components stay robust: In earlier financial slowdowns, high quality of life components tended to drop down the precedence checklist; but in 2023, versatile work and work-life steadiness stay at #3 and #4 – an indication these two points are non-negotiables for a lot of younger folks.
Wage expectations down for 2023: After the rise of 15% seen in 2022, this yr US faculty college students’ expectations have dropped in tandem with a drop in inflation. At present the common anticipated beginning wage for US faculty college students is $72,211. Pc science majors have the best wage expectations of the scholars Universum tracks: $87,231.
Gender pay expectation hole widens: Amongst faculty college students surveyed, males count on a $80,314 beginning wage and ladies count on $68,118 – a 15% gender hole. Although each women and men reported decrease wage expectations in 2023, males’s expectations dropped simply 3%, in comparison with a 7% drop for ladies.
“Early profession expertise is important. We worth our engagements with college students on campus and to obtain recognition because the Prime Splendid Employer for Engineering College students by Universum is an honor. Emphasizing profession progress and adaptability has been a significant differentiator that we regularly hear by suggestions from each early profession and skilled professionals,” stated John Heyliger, Vice President Lockheed Martin Expertise Acquisition.
“With so many cross-currents affecting preferences and perceptions, it’s important that firms carefully monitor their important expertise teams,” says Jeff Rugg, Senior Employer Branding Advisor, US. “For instance, many organizations at the moment are focusing much less on points like worker well-being and versatile working situations as a result of each at the moment are baseline expectations. We consider 2023 shall be a pivotal yr to take inventory of rising expertise’s shifting profession priorities and ensure the EVP is protecting tempo.”
To view the complete checklist of the Most Engaging Employers within the US, click on right here.
About Universum
Universum is a data-driven employer branding company. Based in Stockholm, we at the moment are lively in over 40 markets, with key hubs in Zürich, Paris, Berlin, London, New York, Singapore and Shanghai. The Universum Expertise Survey, carried out in over 60 markets worldwide, surveyed a couple of million college students and professionals about their preferences amongst potential employers, their profession concepts, and communication preferences. Leveraging this, we offer our shoppers with the analysis, technique, and inventive options they should compete extra successfully for expertise.
Do you want to higher perceive your model picture, viewers and opponents?
Yearly Universum surveys over 1 million college students and professionals worldwide to establish the model picture standing of probably the most enticing employers. Our Analytics options provide the insights you could win the conflict for expertise.
