Going to school and earning a degree was once the right and sure step to the right career.  A degree meant you would not be working a menial job with little pay and no benefits.  Those were the jobs you worked while you went to school, not meant for after graduation. Today, the talk concerning the economy is dismal, but having a degree still means a decent job, right?  According to a new study, maybe not.

The market data is showing most college graduates are working jobs that do not require a degree at all. According to data from the Center for Labor Market studies at Northeastern University in Boston, the evidence shows that less than half of college graduates under the age of 25 found work in businesses that required a degree.

The study was conducted during the first four months of 2009, and published earlier this summer.  When many experienced workers are being laid off in increasing numbers, how can a college student with no experience expect to be hired?  According to a survey by the National Association of Colleges and Employers, 22 percent fewer graduating seniors will be hired for jobs as compared to last year. Yet, while some college students are worried, many may be in denial as to the real crisis they will face when they graduate. 

Survey data collected by the National Association of Colleges and Employers found that only 45 percent of college graduates who actually were offered a job this year accepted the opportunity.

NACE also found that 40 percent of students realize they may have to ask for financial help from their parents. Yet, with older job seekers having problems of their own, will parents actually be able to help their children?  As students begin starting their job search this Fall, as well as searches for graduate school, they may have to find out the answer to that question the hard way.

Lay-offs are effecting those in the job market now.  Those students in the 40 percent must hope their parents are not without employment which is not assured. The problem of finding a job after graduation is confounded when one considers most student loan repayments begin six months after graduation.  Concerning high school graduation, the question was, “Where are you going to college?.” Now, concerning college graduation, the questions are “Is it worth it?” and “Will I find a job?.”

Our Take:

I think college is still worth the financial cost, time, and hard work. One day, this economy is going to pick up, and having a degree will mean more again. Now, a few suggestions.  Consider the major under which your degree is received.  The technology fields continue to offer more promise than liberal arts or social sciences (this coming from a journalist major!.)

Really consider an unpaid internship.  Experience is a welcome companion to a degree in the hunt for a job.  Be relentless!  Be proactive! Start looking for opportunities before you graduate.  Find an internship before your senior year.  Start collecting the tools needed when you graduate.  Have a strong resume, cover letter samples, and interview techniques. Keep up to date on new information on how to get a job.  Start collecting business cards and making contacts.  Go to job fairs and take information from everyone.  When you receive a business card, keep it.  Never give up!

To check out the top employers for the class of 2009, go here. Should give you some semblance of hope, class of 2010.