Over the last month, universities and colleges across the U.S. bid farewell to the Class of 2024. Much has been written about their character, but an underappreciated observation might be this: the Class of 2024 has proven its adaptability and resilience.
With the advent of COVID-19 and related lockdowns, members of the Class of 2024 were forced to finish high school remotely. They missed out on prom and walking across the stage to receive their diplomas in a traditional graduation. They also started college remotely, taking classes online from home or alone in a dorm room instead of flooding onto campus to meet new friends and embark on a new journey. Beyond the pandemic were social issues, economic worries, and armed conflicts around the world that cast shadows across campuses as this class moved towards college graduation. Despite widespread media coverage of contentious demonstrations over Gaza and cancelled graduations, most campuses saw only peaceful protests, allowing most members of the Class of 2024 to finally enjoy the full graduation experience.
What world awaits these graduates? While the overall economy is doing well, the combination of inflation and slower tech hiring means the Class of 2024 is facing a slightly tougher job market than recent graduates. The job market remains more robust than the one college graduates faced 15 years ago. But even with a relatively strong market, one third of 2024 college grads surveyed by iCIMS, a recruitment software company, were contemplating part-time work. A survey from the job platform Handshake found a similar percentage looking to add freelance or gig work to a full-time job to cover the high cost of rent and student loans. Tellingly, an overwhelming 76% of the grads value job security more than other factors, according to the Handshake survey (see chart below). That’s hardly surprising given the instability they have faced over the last five years.
Many members of the class want to start in the office, as face-to-face interaction is viewed as both a reminder of pre-pandemic normalcy and an important part of joining a new team. But flexibility remains an important factor with 61% of Handshake survey respondents more likely to apply to a job offering a flexible schedule.
The Class of 2024 often gets tagged as being more fragile and less driven than previous graduates, but it’s looking like they may be more nimble. The crisis and challenges of the last five years may have made recent graduates more resilient and adaptable than they could have imagined.
