Fantastic First Jobs and Where to Find Them

• The job market for the graduating class of 2024 remains steady, showing a modest rise in entry-level job opportunities compared to 2023. However, the numbers of entry-level job openings is notably lower than those observed in 2022.

• Demand for entry-level positions in finance and engineering has decreased in 2024, giving a chance for more hiring in HR, sales, and marketing fields, where demand has increased. There is also increased demand for entry-level roles in the southern states compared to the previous year, particularly in Florida.

• 2023 graduates who entered the job market last year exhibited greater satisfaction with their employers compared to 2022 graduates, except in terms of work-life balance.

It is graduation season again! Many young people are about to start a new chapter in their lives, venturing forth into their professional careers. After last year’s sudden decline in demand for graduate jobs from 2022, this year's graduates are entering a robust labor market. Demand is slightly up from 2023, but the roles and locations for graduate jobs have shifted considerably. This week, we take a closer look at the job market awaiting the class of 2024. What are the available job opportunities and where can the new graduates find them?

Revelio Labs' HR data shows that the graduating class of 2024 is entering a stable labor market, where entry-level job postings increased moderately compared to 2023. The number of entry-level job opportunities still lags behind the number observed in 2022, yet it is still well above the pre-pandemic levels.

The outlook for the entry-level job market varies largely by occupation, with certain roles being much more in-demand than others. Revelio Labs' data indicates decreased demand for roles in finance, engineering, and technical support compared to last year. Some of the declining demand for entry-level technical professionals has been made up by demand to fill entry-level roles in sales, marketing, and HR.

Geographically, there is more demand for entry-level jobs in the southern states, most notably in Florida, South Carolina, Tennessee, and Texas. Meanwhile, California, Massachusetts, and Illinois have less demand for entry-level workers relative to last year.

What can incoming employees expect in their entry-level jobs? We compare the change in junior employee sentiment, normalized by other employees, between 2023 and 2022. We find that junior and entry-level employees exhibit relatively greater satisfaction in 2023 compared to 2022 in all aspects except their perception of work-life balance. One possible explanation for the decline in work-life balance sentiment among entry-level employees in 2023 is the significant decrease in recruitment levels from 2022 to 2023. With fewer entry-level hires in 2023, there may have been increased pressure on these employees to meet work demands, which could negatively affect their work-life balance.

With the continued declining demand for recent graduates in finance, tech, and professional and technical services, this year’s graduates can find new prospects in fields like HR and marketing. Students can effectively utilize their advanced data and digital skills that are becoming very valuable in HR and marketing fields. As we've noted before, being adaptable opens doors to diverse career paths, allowing graduates to embrace new opportunities beyond the conventional career paths.