New grads say employers set the bar too high for entry-level roles: 'No job is willing to give you that first experience'
77% of new grads believe businesses call for too much experience when hiring for entry-level jobs, shutting them out of an increasingly competitive market.
The sentiment expressed by new graduates that employers are setting the bar too high for entry-level roles is a concern that resonates across various industries, including finance and markets. This perception is particularly noteworthy given the current competitive job market, where securing that first role can be pivotal for career progression. The fact that 77% of new graduates share this view suggests a widespread issue that may impact the talent pipeline for companies, potentially leading to a loss of fresh perspectives and innovative ideas.
The requirement for extensive experience in entry-level positions can create a Catch-22 situation for new graduates, where they cannot gain the necessary experience without first being hired, but are unable to be hired due to a lack of experience. This challenge is especially relevant in the finance and markets sector, where specialized skills and knowledge are often required. Companies may need to reassess their hiring strategies to include more training and development opportunities for new entrants, rather than relying solely on prior experience. This could involve internships, mentorship programs, or graduate training schemes that provide a pathway for new graduates to enter the industry.
As the job market continues to evolve, it will be important to watch how companies in the finance and markets sector respond to these concerns. Policymakers and industry leaders may also need to consider initiatives that support the transition of new graduates into the workforce, such as apprenticeships or subsidized training programs. The ability of companies to attract and retain top talent will depend on their willingness to adapt and provide opportunities for growth and development, rather than simply seeking candidates with existing experience. This shift in approach could have significant implications for the future of the finance and markets industry, and its ability to innovate and thrive.
Originally reported by cnbc.com. FundingWire adds analysis for finance & markets readers.