4 reasons to rethink college to career
Post on 18-Oct-2014
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Why should Higher Education transform the way it prepares students for careers? This presentation gives four reasons: Student expectations; employer needs; government intervention, and Higher Ed imperatives.TRANSCRIPT
4 Reasons to Rethink College to Career
by Sheila Curran President & Chief Strategy Consultant
Curran Consulting Group
© Curran Consulting Group. All rights reserved. 4 Reasons to Rethink College to Career
The 4 Reasons
Students Employers
Government Higher Ed
© Curran Consulting Group. All rights reserved. 4 Reasons to Rethink College to Career
Students Do colleges and universities meet student expectations for career preparation?
© Curran Consulting Group. All rights reserved. 4 Reasons to Rethink College to Career
Students (Expectations)
Students want College to Lead to Better Jobs
© Curran Consulting Group. All rights reserved. 4 Reasons to Rethink College to Career
Students
50.00%
55.00%
60.00%
65.00%
70.00%
75.00%
80.00%
85.00%
90.00%
1 2
1976: 67.8% incoming freshmen go to College to get a be=er job
2012: 87.9% incoming freshmen go to College to get a be=er job
Students Face a Poor Job Market
© Curran Career Consulting. All rights reserved. 4 Reasons to Rethink College to Career
Students
5
5.5
6
6.5
7
7.5
8
8.5
9
9.5
2008 2009 2010 2011 2012 2013
Unemployment % of College Graduates Aged 20-‐24 Yearly Averages: 2008 -‐ 2013
Source: Bureau of Labor Statistics, Table Ten, Unpublished
Reality for New Grads
© Curran Career Consulting. All rights reserved. 4 Reasons to Rethink College to Career
Students
• The job market for new, young grads has been tough for five years and shows no sign of imminent improvement
• Approximately 37% of new grads are believed to be mal-employed—employed in part-time positions or positions not requiring a college degree
• For significant numbers of students, the path from college to career is unclear
• Many students start the job search too late and do not see value in their college’s career services
Employers Are students prepared for the work world?
© Curran Consulting Group. All rights reserved. 4 Reasons to Rethink College to Career
Employers (Disappointment)
Students are Unprepared for Job Search
© Curran Consulting Group. All rights reserved. 4 Reasons to Rethink College to Career
Employers
“ Thirty one percent of employers indicated that recent graduates are unprepared or very unprepared for their job search”
Source: The Role of Higher Education in Career Development: Employer Perceptions, The Chronicle of Higher Education and American Public Media’s Marketplace, December 2012
Students Can’t Do the Job
© Curran Consulting Group. All rights reserved. 4 Reasons to Rethink College to Career
Employers
Source: The Role of Higher Education in Career Development: Employer Perceptions, The Chronicle of Higher Education and American Public Media’s Marketplace, December 2012
Only 16% of hiring decision makers say college grad applicants are “very prepared” with the knowledge and skills they would need to do the job.
Government • Are students getting value for money from
Higher Education? • How can Higher Education be more
transparent?
© Curran Consulting Group. All rights reserved. 4 Reasons to Rethink College to Career
Government
Government Scrutiny
© Curran Consulting Group. All rights reserved. 4 Reasons to Rethink College to Career
Government
• In 2001, annual tuition was 23% of household income; in 2013, it was 38%
• Average student loan debt in 2012 was 29.4K
• More than one in 7 borrowers with federal student loans went into default within 3 years of graduation
Government Action
© Curran Consulting Group. All rights reserved. 4 Reasons to Rethink College to Career
Government
• Gainful Employment Initiatives
• The College ScoreCard
• President Obama’s planned College Rating System
How many colleges and universities have sufficient data to prove the value of their education and outcomes to students, parents and the government?
Higher Ed • Career outcomes affect matriculation, alumni
engagement and fundraising • Good career outcomes may impact reputation
and even survival
© Curran Consulting Group. All rights reserved. 4 Reasons to Rethink College to Career
Higher Ed (Under Pressure)
Higher Ed Gives Itself an A
© Curran Consulting Group. All rights reserved. 4 Reasons to Rethink College to Career
Higher Ed
97% of college and university presidents believe it is somewhat or very important that graduates are able to get a good job. 96% of chief academic officers believe their institution is either somewhat effective or very effective in preparing students for the world of work
Higher Ed’s self perception is very different from the perception of graduates and employers:
DOING NOTHING ABOUT ENHANCING CAREER OUTCOMES IS NOT AN OPTION
4 Reasons to Rethink College to Career
Students Increasingly want College to lead to better jobs, but
many colleges are ill-equipped to help them
Employers Believe new graduates are neither prepared for the job
search nor the jobs they want
Government Seeks greater accountability and transparency on career outcomes from Higher Ed
Higher Ed Will face increased scrutiny and regulation if it does not
act to enhance career outcomes
© Curran Consulting Group. All rights reserved. 4 Reasons to Rethink College to Career
Higher Ed Needs a Plan to Rethink Careers
© Curran Consulting Group. All rights reserved. 4 Reasons to Rethink College to Career
Higher Ed
• DO A STRATEGIC OPPORTUNITY ASSESSMENT
• MAKE CAREERS an INSTITUTIONAL RESPONSIBILITY AND PRIORITY
• DEFINE & IMPLEMENT QUICK WINS AND A LONG-TERM STRATEGY
Imagine a Better Future for Your Graduates: Transform Careers on Your Campus
Contact: Sheila Curran, CEO and Chief Strategy Consultant
Curran Consulting Group CurranonCareers.com
© Curran Consulting Group. All rights reserved. 4 Reasons to Rethink College to Career
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