It feels like change is on the horizon. Chris at Graduate Coach gives us much to be optimistic about, in regards to the future of the Graduate Market. Chris also shares his top tips for Graduates and Parents alike. He tells us:
On Monday 9th November my wife phoned at lunchtime and informed me that a US Pharmaceutical Company had successfully taken its vaccine through all its tests. We are both scientists by training, so this was of special interest to us.
By Monday evening the whole world knew. This week we received more good news, with the arrival of a second successful US vaccine, and it looks like we will be receiving an update on the Oxford Vaccine soon.
The government knew that good news was coming because three weeks ago it alerted NHS Trusts that they should make their workforce ready for immunisation from December 1st. This news story seems to have passed by the mainstream media, as they did not pick it up.
Graduate Coach has had our best month ever, with six graduates landing great jobs. This month we already have two successes and will potentially have three more before the end of the month, so things are already looking up and the vaccine news will change everything really quickly.
Here is my reasoning:
1. Companies will increase their marketing budgets significantly …
On Monday evening, a friend of mine who runs a boutique global media agency (who I had texted as soon as I had heard the good news), phoned me in a state of high excitement to say that his colleagues in the US, on both the East and West Coast, were in a state of euphoria!
The good news (Biden victory and the vaccine) had led to almost non-stop calls from their global clients to start turning the marketing taps on from January. Some even wanted to know what they could additionally spend this December.
So global companies who know there is a wall of consumer cash waiting to be spent (on both sides of the Atlantic) are already starting to pump up their marketing budgets for 2021.
2. Consumer Confidence will return much faster than we anticipated …
I am a big fan of Franklin D Roosevelt, the US president. In his inaugural address as President in March 1933 when the USA had 35% unemployment, he said, “We have nothing to fear except fear itself”. At the time the US economy was in free fall and many banks were essentially bust. But his words on that day and his subsequent actions in the first 100 days of his presidency dramatically changed the mood of both the American people and companies big and small incredibly quickly.
We all know that whilst doom and gloom spread quickly, confidence is rather slow to take hold. However, confidence is contagious. Once it starts to spread, watch the mainstream media pick up on it and start to pump out good news. By the end of January, unless there is an issue with the vaccination programme the UK will be a much happier place.
3. There is a £200 billion wall of cash waiting to be spent …
Ed Conway, (Economics editor of Sky TV) in a noticeably optimistic article in The Times yesterday, said that cash held by consumers jumped by £100 billion in the first six months of the year and by almost the same amount for companies. This money will be spent as soon as people think life is starting to return to normal.
These three factors then will trigger a big increase in entry-level jobs from early next year, so…
What’s my advice to graduates and their parents?
1. Ensure that you are preparing yourself for interviews …
We even advise grads to go for jobs they might not want, to get interview practise, so look out for job ads like a hawk! No matter how much interview coaching we do, there is nothing like the real thing. Everyone needs (and tends) to fail the first four or five times and then, hey presto, one day it suddenly all fits together! It took me six attempts to land my first job in advertising and that was when every grad could get a job.
2. If you have some time on your hands to upskill yourself …
We have collaborated with Reed and Future Learn, who offer incredible free courses on all sorts of subjects. Our digital internship has been a Godsend for our grads, enabling all of them to say they are gainfully employed and they have all acquired “digital fluency”.
We used to think that 85% of all graduate jobs by 2025 would require digital skills. In fact, that seems to have happened already. By 2025 you will be unemployable unless you’re digitally fluent. Sensible grads will have completed free upskilling courses throughout their Uni years if they have any sense!
So that’s why I feel much happier for what is going to happen to graduate employability. It’s been a long hard 2020. Things can and only will get better!
You can find out more about the different free courses and webinars available to both graduates and non graduates here, including the Graduate Coach’s free ‘How to get a Graduate job’ course. You can also get in touch with Chris, the Graduate Coach directly on his website graduatecoach.co.uk