Recent college graduates are in a unique position compared to other generations: As more tech companies shift to hybrid work arrangements, graduates are wary of jobs in Big Tech, and are instead turning to retail, finance, and manufacturing, according to a recent Handshake survey. Raytheon, Nike, Toyota, Chevron, Capital One, Bank of America, and NASA are among some of the other companies that saw a surge in application traffic as Gen Z students prioritize stability and good pay.
This shift away from Big Tech, Handshake’s survey of 954 individuals from the class of 2023 found, is partially because the recent graduating class is “quite turned off” by the volatility represented by tech layoffs and a precarious economy. Additionally, many want certain benefits, career paths, and sacrifices from their employment in order to feel secure. Meanwhile, other Gen Z members are still fine-tuning their tech skills — only 85% have reported one or more tech skill, such as data analysis or information technology — and also think hybrid work has its benefits.
Christine Cruzvergara, Handshake’s chief education strategy officer, commented that, while graduates are avoiding Big Tech, they are not avoiding tech entirely. Three out of four said they’re seeking to develop new tech skills within the near future. This contrast with a ResumeBuilder.com report from last month, which found that 74% of managers and business leaders found this generation the most difficult to work with, with 40% of the challenge stemming from lack of tech knowledge.
Although Gen Z still faces many challenges related to their employment, some employers are turning to them to take on new technologies that come with Generative AI. A mere 40% of Handshake responders say they are concerned about how this technology will affect them, but 60% do anticipate that it will have an impact in the next ten years.
The class of 2023 largely represents the first generation to explore employment during the coronavirus pandemic, as well as the long-term, ever-changing job market. While Big Tech companies could offer career opportunities in the past, graduates of this latest class are choosing stability and well-paying positions instead.
