MATAWAN, N.J. [May 17, 2016] – iCIMS, Inc., a leading provider of Software-as-a-Service (SaaS) talent acquisition solutions, announced today that the company has released its report, “Class of 2016 Enters the Workforce [Hopefully]!” To evaluate expectations versus reality, iCIMS surveyed both the Class of 2016 and recruiting professionals and compared their responses.
The report brings to light the mindset of this graduating class and what they are anticipating from their potential employers as they enter the workforce – including industry, location, and salary expectations. The study, conducted in partnership with Wakefield Research, also exposes a sizeable gap when it comes to men’s and women’s salary expectations and negotiations.
Highlights from the report include:
· Salary expectations: While 42% of college seniors expect to earn at least $50,000, 48% of companies report paying their entry-level employees $35,000 or less.
· Gender Gap: There’s a marked discrepancy among salary expectations when it comes to gender. While 68% of graduating women feel they will earn less than $50,000, only 44% of graduating men expect to earn below that wage.
· Value of a degree: While 86% of college seniors believe their four-year degree will make them instantly competitive in the current job market, 36% of employers said at least half of the job applicants they receive are not qualified for the position they applied to.
· Rising internships: Temporary jobs and internship opportunities are increasing – 91% of college seniors said it was likely they would accept a temporary full-time, paid internship, or contractor position if there was potential for a permanent job offer.
· Location preferences: The most popular state college graduates are attracted to living and working in is California.
· Top industries: Education, healthcare, and science/engineering are the most popular industries college seniors would like to work in after graduation.
“While the job market is improving, this report demonstrates that the Class of 2016 may have some difficulty when it comes to landing a first job that matches what they are anticipating,” said Susan Vitale, iCIMS chief marketing officer. “For an entry-level, college graduate candidate to stand out, they should assess their own interview skills, familiarize themselves with the company, and ask the right questions about the position. And it’s critical to get the basics right – like sending a follow up note. Our research found that only 24% of entry-level applicants send a thank-you note in writing or email after completing a job interview. This is an easy way to stand out from the pack. Our hope is that this report offers recent graduates information they can use to better prepare themselves to land a job and provides hiring professionals with what today’s young minds are looking for from their employers.”
To compile the report, Wakefield Research assessed responses from 400 U.S. college seniors and 400 U.S. HR recruiting professionals.
iCIMS is the leading cloud platform for recruiting. iCIMS enables companies to manage and scale their recruiting programs through an award-winning end-to-end talent acquisition platform and an ecosystem of nearly 300 integrated partners. Established in 2000, iCIMS supports more than 4,000 customers, including nearly 20% of Fortune 100 companies, hiring 4 million people each year. For more information, visit www.icims.com.