Experts Weigh In On Current Job Market Trends
April 3, 2021
Given the change of course that has happened in the world, we wanted to provide expert opinions on what aspiring graduates can do to start off their careers in an uncertain economic climate. We wanted to know what skills will be more important, where the economy is doing relatively well, and if there will be any lasting effects on the job market.
Companies are looking for candidates that can handle the new responsibilities of the job market. Recent graduates actually have an advantage because they are comfortable using newer technologies and have been communicating virtually their whole lives. They can take what they've learned and apply it immediately.
We spoke to professors and experts from several universities and companies to get their opinions on where the job market for recent graduates is heading, as well as how young graduates entering the industry can be adequately prepared. Here are their thoughts.
Our Panel of Experts
Florida Gulf Coast University
Swarthmore College
Minnesota State University - Mankato
Stephen F. Austin State University
University of Minnesota
Stevens Institute of Technology
Drexel University
Marianela Rivera Ph.D.
Assistant Professor of Spanish, Foreign Languages Division Coordinator, Faculty Affiliate, Center for Critical Race & Ethnic StudiesFlorida Gulf Coast University
Department of Language and Literature
WebsiteIn your opinion, what are the biggest trends we'll see in the job market given the pandemic?
Marianela Rivera Ph.D.: The pandemic has had a strong impact on the job market, and it seems that many of those changes are not necessarily going to go away once the situation goes back to normal. The market is highly competitive, even more than before; therefore candidates should be able to demonstrate that they are not limiting themselves to their degrees. Looking for ways to keep up with technology and teaching trends is a must. Flexibility and the willingness and ability to work remotely I think are some of the most important trends in the job market as well. Candidates should be able to demonstrate that they are able to adapt and that they are willing to keep learning. Another significant factor to keep in mind is the importance given to diverse and inclusive environments. The pandemic has also highlighted issues related to sexism, racism, and inequality. Departments of Romance languages, literatures, and linguistics are looking to become more inclusive, therefore, they look for candidates who support an inclusive curriculum, show experience working with diverse populations of students, and demonstrate a commitment to teaching in and about multicultural environments.
What technical skills stand out to employers?
Marianela Rivera Ph.D.: In the past, technology was not necessarily one of the main concerns for people interested in romance languages, literatures, and linguistics; however, even before the pandemic, a variety of platforms and resources were made available to facilitate teaching courses related to those fields. The pandemic has highlighted the need to adapt to evolving times, so now technical skills are definitely something employers look for in potential candidates in addition to teaching and research excellence. Knowledge of and experience in online course development, technical writing, social media management, learning management systems, and project management are definitely skills that would stand out to employers.
How have salaries changed over time in your field?
Marianela Rivera Ph.D.: I think in terms of the salary, there has not been a significant change, especially for those who recently graduate and go into the job market; however, there are many more opportunities in terms of professional development and also to promote and implement interdisciplinary projects. Additional financial support is usually available for those who demonstrate interest and/or experience in developing research and/or service-learning projects, but it all depends on the institution.
Michael Brown
Morris L. Clothier Professor of PhysicsSwarthmore College
Department of Physics and Astronomy
WebsiteWill there be an enduring impact of the coronavirus pandemic on graduates?
Michael Brown: I don't think so. This has been a challenging year, but 10 years from now, I think graduates will reflect back and see this year as just that: a challenge that we eventually overcame. We developed tools for remote meetings and interviews that I think we will use moving forward.
What's a day at work going to look like for a recent graduate?
Michael Brown: Hard to say. I predict that there will be more remote work than we've had in the past. Our physics graduates engaged in experimental or hands-on research will need to be in a physical laboratory. Our graduates are learning how to do computer modelling in the cloud from home.
What will help people in your field increase their earning potential?
Michael Brown: I think having a suite of skills is the best strategy. Our graduates learn physics analysis and problem solving skills, but also computer modelling skills, experimental techniques, writing skills, and even how to make an effective presentation.
Tao Peng Ph.D.
Associate Professor, Interim Department ChairMinnesota State University - Mankato
History Department
WebsiteWill there be an enduring impact of the coronavirus pandemic on graduates?
Tao Peng Ph.D.: In the pandemic period, it will become more difficult to find history-related jobs. Some graduates may only find jobs that do not require historical skills.
To make themselves more competitive, students may consider developing new skills: not only historical research and writing skills, but also foreign language skill, programming skill, and/or other interdisciplinary skill(s). They may also consider applying for graduate programs to pursue advanced degrees. Besides, students may find it helpful to find opportunities to practice and teach history: for example, doing interns in local museums or historical societies, or teaching some history courses in local schools.
Hunter Hampton Ph.D.
Assistant ProfessorStephen F. Austin State University
Department of History
WebsiteIn your opinion, what are the biggest trends we'll see in the job market given the pandemic?
Hunter Hampton Ph.D.: As someone who graduated from college in 2008 and sought refuge in graduate school, I believe we will see a similar influx in graduate student enrollments over the next two or three years as the economy hopefully recovers. Immediately after I graduated, I applied to about twenty minimum-wage retail jobs. I got two interviews and only one job offer. I saw graduate school as a tool to both buy time in hopes of improved job prospects and increase my qualifications for that future job market. I could see a similar trend now. People that lost their job due to the pandemic may return to finish their undergraduate degree or begin a graduate program for the same reason that I did.
What certifications/licenses/courses can have the biggest impact on your job prospects?
Hunter Hampton Ph.D.: Historically, the biggest impact on a person's job prospects is an undergraduate degree. As I tell my students, the most important thing you can major in is the one that you finish. But I believe flexibility in an undergraduate degree is beneficial for future employment. Majoring in the humanities provides job seekers cultural awareness, written and oral communication skills, and critical thinking. If the past year has taught us anything about work, cultural awareness, clear communication, critical thinking, and flexibility are essential for successful employers and employees. This skillset also widens job prospects for applicants. As the nature of work continues to change in the wake of the pandemic, I think that employers will seek out employees with a flexible skill set that can adapt quickly to unforeseen of conditions and tasks.
How have salaries changed over time in your field?
Hunter Hampton Ph.D.: This is difficult to answer because of the variety of fields that someone with a history degree can go into. They range from lawyers, museum curators, writers, business owners, teachers, and a few that get a Ph.D to teach at the college level. For my field as a professor specifically, the salaries are near flat over the past four years. I don't foresee them improving in the near future as state funding continues to decline for higher education. But I do believe that the salary for history majors will increase as employers continue to see the value of hiring humanities graduates.
Lee Penn Ph.D.
Director of Undergraduate Studies - Chemistry Department, Merck Professor, ProfessorUniversity of Minnesota
Department of Chemistry
WebsiteWhat soft skills should all graduates possess?
Lee Penn Ph.D.: I hear over and over again from recruiters - they want candidates with strong backgrounds in their majors PLUS two things.
1 - experience with data science, statistics, or some kind of computer science
2 - soft skills (communication, playing well with other, collaboration, etc...)
Dr. Ionut Florescu
Research Professor Financial Engineering, Director Hanlon Laboratories, Director Financial Analytics programStevens Institute of Technology
School of Business
WebsiteIn your opinion, what are the biggest trends we'll see in the job market given the pandemic?
Dr. Ionut Florescu: When the pandemic started in March 2020 the job market drained. I had students with internships blocked and job offers rescinded over night. The fact that we had 87% employment 3 months after graduation for the program I am leading, during pandemic times I think is a testimonial of the strength of our career development team. This changed in December 2020 and I believe this spring we will see a return to normality. We are already doing better than last year and the semester is not even finished.
I am seeing all interviews going online even for companies that are next to us. So, in theory at least, our advantage being right next to Manhattan and Jersey City is not as prominent as before the pandemic. Yet, in the last two months our students are doing as well as before the pandemic. The reason, I think they keep coming back to us is tradition and the fact that our graduates are very technically sound.
Our undergraduate program Quantitative Finance was completely unaffected by the pandemic. The reason is the students typically get offers in their third year. So seniors were unaffected and juniors are now getting offers. This is because the QF program is extremely technical. It probably is the only program in Business Schools in US where students are taking Calc I through IV, and more probability and statistics than any engineering program. I think going forward, those traits are going to become the norm not the exception. I believe every graduate in the future will need to know how to program.
What soft skills should all graduates possess?
Dr. Ionut Florescu: I believe in terms of soft skills, every graduate should be able to explain the results of their complex models to someone who isn't technically sound. So, presentation skills are extremely important. Then the capability of approaching a presenter at a conference or workshop and ask pertinent questions about what they just presented is really important. We require all our students to not only make presentations but also ask questions during other teams' presentations. I believe the most important thing as a teacher in the course is to criticize them when their presentation is not crisp or when the question isn't clear or appropriate.
How have salaries changed over time in your field?
Dr. Ionut Florescu: Our programs are producing graduates who work in the financial services industry, and our salaries are high compared to other domains. However, in 2019 the year before the pandemic, it was the first time when our graduates were attracted to the technology sector because the compensation was higher. It was also the first time when our Business School data science programs had a higher stating salary than the traditionally finance programs. Thus, I saw a shift in the skills, with statistics now being a required skill and not a "good to have" anymore. I do believe this trend will continue for at least a couple of years. The salaries will go up going forward. They did go down in 2020.
Rogelio Minana Ph.D.
Vice Provost for Global Engagement, Head of Global Studies and Modern LanguagesDrexel University
Office of Global Engagement
WebsiteWill there be an enduring impact of the coronavirus pandemic on graduates?
Rogelio Minana Ph.D.: It is still unclear the concrete impacts of the pandemic on jobs (working remotely vs on site, and the like), but it is clear that technology, adaptability, and a sense of how the global affects the local and vice versa are indispensable features in today's professional and civic life. Higher education institutions must focus on these skills in order to prepare students beyond disciplinary knowledge, as careers prove more fluid than ever before and the world as a whole becomes even more connected.
What's a good job out of college and why?
Rogelio Minana Ph.D.: In today's global world, a good job out of college is one that enables a young graduate to explore a variety of career paths. The jobs of the future will require imagination, creativity, adaptability, and in many cases the ability to move one's career in different directions by means of interdisciplinarity and intercultural competency. Careers are living entities in today's market, and a job that allows a recent graduate to explore and not feel constrained to just one discipline or task will best prepare them to thrive as they become lifelong learners.
What will help people in your field increase their earning potential?
Rogelio Minana Ph.D.: In any field, having broad global qualifications, from experience studying and living abroad to language skills and the ability to work as part of international teams, provides a clear edge. Data indicates that international/global experience leads to higher graduation rates and higher GPS in college, as well as to higher earnings and higher change of promotion to decision-making positions after graduation. Developing intercultural competency and proactively seeking and appreciating diversity, both domestic and international, are critical not only for a healthy job market but also for a fairer society.
