For the past few years, the folks at Accenture have been conducting a survey that polls 2 groups of people: college seniors, on their expectations when entering the workforce; and members of the last 2 graduating classes, on what they've actually experienced out in the real world.
The results are usually illuminating, and this year's report is no different. As you can see from the infographic below, the realities of the working world tend not to measure up to the hopes that those entering it have.
For me, the most worrying stat there is that almost 40% of recent grads are making less than $25,000--a figure that is $10,000 lower than the average member of their class owed for their education at graduation.
Not uncoincidentally, more than half of the members of the last two graduating classes consider themselves underemployed relative to their education level. Proof that, while the unemployment level might be in a good place, openings for good jobs aren't exactly proliferating at present.
Check out the infographic for a few more higlights, or head on over to www.accenture.com/uscollegegradresearch to check out the full report.
A few years ago, I was in a meeting with several recruiters and HR personnel at a big Wall Street bank. The employees at the bank (which will go unnamed) openly expressed frustration with their inability to communicate with young job candidates—so-called millennials.
The most difficult part of any salary negotiation is that feeling that you're always leaving something on the table. Unless you're interviewing with an organization that makes its salary data public, the chances are that you'll never truly know if your offer is on par with what your new colleagues or your predecessor are making.
If you're anything like me, you're probably sick of reading anything with the word Millennial in the title—especially if it seeks to explain the likely habits of an entire generation of people. By now, we should probably all have got the picture: there are a lot of them hitting the workforce, and <gasp> they're not like the rest of us.
As we reviewed earlier, many attorneys are behind technologically and reticent to adopt new tech tools, despite (1) ABA recommendations to stay abreast of relevant technology, (2) sophisticated clients who expect tech proficiency in their attorneys, and (3) competitors like alternative legal service providers (ALSPs) using technology to provide legal support work at lower costs. The bottom line is that law firms and lawyers need to keep current with technology because being deficient means losing business—or going out of business.
We recently spoke a bit about how AI programs such as ChatGPT and DALLE-2 are affecting the creative industry, along with some possible future scenarios. With the use of such AI programs on the rise, we must also ask ourselves how they will affect students, teachers, and academia as a whole.