Employers Less Likely to Hire Interns, Entry Level Applicants this Year

With a slowing economy, employers are currently less likely to hire interns and employees for entry-level jobs than in previous years.

MonsterTRAK's annual survey of college students, graduates and employers revealed that only 59 percent of employers planned on hiring 2008 spring and summer graduates, a decrease of 17 percent from last year. At the same time, 29 percent of employers were unsure of whether or not to hire interns, nearly twice as many as in 2007.

It was noted that 85 percent of employers that did plan to hire interns or entry-level workers would offer an equal amount or more positions than in 2007, and one-third of employers planned on increasing entry-level salaries by 1 to 5 percent.

The survey also revealed that despite the status of the economy, students are remaining positive about their chances to grab an internship or entry-level job, as 73 percent of students expect to receive two or more offers by graduation.

Of the students surveyed, 81 percent ranked job growth opportunities as being important, 79 percent ranked personal fulfillment highly and only 57 percent ranked salary as being important.

While remaining optimistic, students are having a hard time getting out on their own, according to an article on BNET. While last year's survey showed 22 percent of 2007 graduates planned to move back home for more than six months, 43 percent are still living at home this year. Also, 42 percent of students have a student loan debt higher than $25,000 and 33 percent have credit card balances higher than $5,000.

The reason some students may not be finding work is the difference in opinions between students and employers as to what is most important. The survey revealed 43 percent of employers think personal characteristics are most important, while only 19 percent of graduates think the same. Also, 48 percent of students think relevant work experience is the most important item, while only 21 percent of employers agreed.

Employers also noted that some student behavior during interviews can result in adverse hiring decisions, such as a general lack of professionalism, wearing inappropriate attire and arriving late. Most employers also expect a thank-you note, while 28 percent of students didn't follow up with employers in 2007.