Why This Year’s College Grads Aren’t Chasing Jobs At Startup Companies

By Gail MarksJarvis
Chicago Tribune

WWR Article Summary (tl;dr) According to a survey by Accenture, the number of graduates seeking jobs at large companies is up 37 percent over last year’s graduating class. The study describes this year’s graduates as more like their parents’ generation than the millennials that preceded them in college.

Chicago Tribune

The fantasy of graduating from college and immediately going to work with the next Mark Zuckerberg is dying.

For the first time in years, fewer college graduates are enamored by the idea of working for startup companies. Instead, this year’s college graduates say they want the security and stability that comes from employment at large established companies, according to a survey by Accenture.

The number seeking jobs at large companies is up 37 percent over last year’s graduating class, according to researchers for the business management consulting firm, who describe this year’s graduates as more like their parents’ generation than the millennials that preceded them in college.

Millennials are known as an entrepreneurial group, a generation skeptical of big business and drawn, instead, to small startups where they can get in on the ground floor, innovate, make their mark and maybe get rich off of stock options if the business hits it big.

But working for startups is tough. Only a few grow into a Facebook or Google. Most don’t survive. And this year’s graduates, who fit into the next generation, Gen Z, are in no mood for risks.

“They’ve seen the classes before them and their predecessors feeling underemployed,” said Teri Hill, managing director for Accenture. “This group fears that the most.”

To compile its report, Accenture surveyed 1,000 U.S. students between the ages of 18 and 24 who are graduating from college in 2017, and 1,000 students who graduated in 2015 or 2016. The online survey was conducted in January and February of this year.

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