College graduates have a lot to celebrate–four (or more) years of hard work paying off! But unfortunately, that hard work won’t pay off right away in terms of getting a good job, and it looks like a lot of recent grads are in denial about the harsh realities of the job market.
A study shows that while only 18 percent of 2014 graduates expect to earn $25,000 or less when they get a job out of school, about 41 percent of 2012 and 2013 graduates are earning salaries in that range. And if you live anywhere close to New York City, you’ll know that that’s barely livable (unless you have a ton of roommates or live at home).
The survey, conducted by Accenture, asked more than 2,000 students about their future aspirations, and while being hopeful is awesome, it’s not too realistic with the harsh realities they face. About 46 percent of workers who graduated from college in the past two years say they have in jobs that don’t use their college degrees. Despite reported economic improvements, that number is actually up from 41 percent last year.
More disheartening? About 84 percent of recent graduates expect to find a job in their chosen field, but only 67 percent of them actually did.
Even more disheartening? The amount of student loan debt that recent graduates are faced with, many of whom can’t pay it back for a very long time.
On the sorta bright side? The low-wage job market is improving. There’s always waiting tables, guys.