Surprising 2023 Summer Stats: A Staggering 80% of Students are Confident They Will Find Jobs Within Three Months of Graduating

“Where are you headed next?”

The question that hangs in the air as new graduates take a well-earned victory lap and greet relatives at summer gatherings.

“Seriously, what’s next? Have a job?”

And while today’s job market is undeniably uncertain, according to a Job Prospect Survey from Project Management Institute (PMI) the class of 2023 is decidedly unruffled.

Indeed, a staggering 80% of students are confident they will find a job within three months of graduating, reports PMI, and among those who feel confident, 47% feel qualified for the role and 47% have a relevant degree specific to their career or industry.

Two questions leapt to mind when I saw those numbers: Where did this confidence come from, and is it enough to get ahead in today’s market?

To find out more I reached out to Karla Eidem, North America Regional Operations Manager at PMI, to take a deeper dive into the survey and a closer look at this commencement confidence. Below is an excerpted version of our interview:

IR: These survey results are fascinating! What about the survey most surprised you?

KE: PMI’s Job Prospect Survey, which surveyed students and young professionals aged 18–30, is full of interesting findings. The statistic that surprised me most, however, was that despite only 6% of student respondents having a job lined up after graduation, 80% are confident they’ll find work within three months of graduating. Given today’s competitive job market, it’s increasingly essential — and difficult — for students to stand out to potential employers, so I was surprised to see that so many are confident in their ability to secure a job post-graduation. On the other hand, it is also encouraging to see so many students confident in their skills and ready to enter the workforce. The survey explored this further and found that 47% point to both their qualifications and a relevant degree for why they are so optimistic. Another 20% credit their confidence to having a relevant professional certification under their belt.

Certifications are great tools for students to learn new skills, “test drive” various professions, and demonstrate dedication and proactivity to potential employers. For example, PMI offers the Certified Associate in Project Management (CAPM)® certification, which covers the fundamentals of project management.

Seventy-one percent of respondents anticipate project management skills being a part of their career, which showcases not only how valuable these skills are, but that they are also transferable to all careers. And the breadth of skills a project manager needs to possess goes beyond just technical skills. Power skills, also known as soft skills, such as communication, problem-solving, and collaborative leadership, are not only essential for project managers to lead successful teams, but also for any professional. PMI’s CAPM certification is a great first step to learn project management skills and lay the groundwork for opportunity, growth, and advanced certifications down the road.

IR: What are a few takeaways that you would suggest tomorrow’s workforce glean from the survey?

KE: Overall, I see two key takeaways for the next generation of workers. First, take advantage of certifications and employ those learned techniques in professional or volunteer settings. Certifications can maximize your earning potential and boost your professional credibility amongst a sea of qualified candidates.

Second, network to the fullest. Starting your career as a young professional can be challenging. It’s important to build as many connections as you can — no matter how uncomfortable it may be to get started! Every customer, employer, or employee you meet could be a connection — someone who could offer mentoring, new job prospects, business collaborations, or even career advancements.

Building a strong network not only enhances your professional opportunities, but it also creates a support system of like-minded individuals who can offer guidance and mentorship, providing insights into how to navigate challenges and help you make informed decisions. Between having a relevant certification under your belt and a strong network of individuals behind you, you will have a strong foundation to set yourself up for success for the rest of your career.

IR: Given the findings, what steps can employers take to combat the rate at which young professionals are feeling burned out?

KE: Fifty-one percent of young professionals report feeling burnt out on the job. For employers, it is crucial to act now and create a supportive and inclusive work environment. Not only will this help to both retain young professionals, but also show that you, as an employer, are invested in seeing your young employees thrive in their careers.

Here is some tangible advice I would offer to employers:

1. Create the Working Environment Young Professionals Want: While salary is the most important factor when considering a new job, flexibility follows close behind. When asked to identify the top five attributes they consider when evaluating a job opportunity, young professionals selected salary (61%), work/life balance (57%), flexible work hours (52%), job stability (45%), and workplace flexibility (i.e., the ability to work remotely) (42%) at the highest rates. Organizations can honor this by offering flexible work hours, encouraging employees to use their vacation time, and creating a hybrid or remote working model. And equally important, leaders also need to demonstrate that they, too, value and practice work-life balance.

2. Encourage Growth Opportunities: Offer opportunities for professional development and growth within the organization so employees can enhance their skills and knowledge. Discuss and create a professional development plan with them and provide training programs, workshops, and opportunities to pursue a professional certification. In fact, while most young professionals (61%) don’t have a professional certification and are not planning to get one, 76% say they would be more likely to pursue a certification if their employer offered reimbursement. By investing in your younger staff, you can help retain these individuals as employees and build future leaders for your organization.

3. Lead by Example: Leadership plays a crucial role in setting the tone for an organization. When leaders prioritize their own continuous learning and model the importance of making time for it, they can influence other leaders to model this behavior for their teams, too. The result? Employees who are fulfilled that they are advancing their skills and teams who are collectively upskilling and staying on top of the trends in their industry.

And just like that, my questions were answered. Confidence is stemming from hard-won qualifications and degrees, augmented by smart professional certifications. And yes, it just may be enough.

Indeed, if today’s companies note the workplace balance and growth opportunities requested by respondents, and if new grads heed Eidem’s advice regarding networks and mentors — it may be more than enough.

It may be the start of an empowering path forward.

Looking forward,

Illana

ÊXTRAS: With more post-grad job market advice, here are three additional PMI offerings you won’t want to miss: the fine print about the survey and methodology; their full certification library, and PMI’s Insta with entry-level job-prep posts.