Despite Strong Hiring Expectations, Competition Among Candidates
Remains Fierce; Employers Expect More Than 70 Resumes for Each Open
MAYNARD, Mass.--(BUSINESS WIRE)--April 2, 2007--Continuing the
strong hiring demand seen for last year's graduates, the class of 2007
will soon enter an even healthier labor market, according to
MonsterTRAK's annual nationwide survey of college students, recent
graduates and entry-level employers. Among the findings, 76 percent of
employers plan to hire 2007 graduates in the spring or summer, up from
last year's 72 percent, and 38 percent expect to recruit more
entry-level candidates than in 2006. MonsterTRAK is the student
division of Monster(R), the leading global online careers and
recruitment resource and flagship brand of Monster Worldwide, Inc.
Survey findings demonstrate that seekers are confident as well -
89 percent of prospective graduates expect to receive at least one job
offer by graduation, while 74 percent expect two or more offers, a 10
percent increase over 2006. However, despite strong demand for
graduates, seekers shouldn't feel too entitled in their job search:
-- Employers anticipate 73 applications on average for each
available entry-level position.
-- Sixty-three percent of employers indicate 2007 entry-level
wages will not increase over last year's earnings.
"This year's MonsterTRAK survey demonstrates that while demand for
talent is on the rise, employers remain confident they will have a
large number of candidates to consider for each open position," said
Julie Goldthwait, vice president and general manager, MonsterTRAK.
"Consequently, rather than increasing wages to attract entry-level
candidates, employers are implementing practices that help attract
talent at earlier stages, such as growing their internship programs."
Upon graduation, 48 percent of prospective graduates plan to
"boomerang" and spend at least some time living at home, the same
percentage as last year. Of this group, 22 percent expect to live at
home for longer than six months. The remaining 26 percent, those who
anticipate moving out quickly, may stay longer than expected - 42
percent of 2006 graduates say they are still living with their
Employer & Entry-Level Seeker Perceptions: Connects & Disconnects
Employers and graduates both perceive relevant work experience and
personal characteristics, such as interviewing skills, as the most
important factor in hiring recent college graduates. Both groups also
consider a candidate's GPA least significant. Recognizing the fact
that employers value relevant work experience more than a perfect 4.0
GPA, 78 percent of prospective graduates plan to complete one or more
internship during their college career.
"The MonsterTRAK findings have also uncovered a startling gap
between job seekers' and employers' perceptions in regards to
job-related priorities," added Goldthwait. "Employers perceive
graduates' top motivators to be work/life balance opportunities and
salary, while in reality, the survey shows that students are most
engaged by fulfilling work and growth opportunities. This means
entry-level seekers have a unique opportunity to stand out from the
crowd by conveying to employers their true values and ambitions."
Moreover, employers cite lack of professionalism, such as
tardiness or not sending a thank-you note, as the biggest mistake a
prospect can make in an interview. Thirty-five percent of last year's
graduates say they do not send thank-you notes after interviews - a
simple act that, according to employers, can go a long way.
Networking Profiles and the Job Search
Of those surveyed, one-in-five employers check candidates'
personal online profiles during the recruitment process. While 59
percent of 2006 graduates maintain an online profile, only 40 percent
will modify the information when searching for a job, suggesting that
entry-level seekers should realize the need to not only maintain their
resume, but their overall online presence.
MonsterTRAK's 2007 Entry Level Job Outlook was conducted from
February 15 - March 7, 2007 via targeted online distribution to
nationwide MonsterTRAK customer companies, as well as college students
and recent alumni who are MonsterTRAK members. Results were recorded
from more than 985 employers and over 2,545 students.
Founded in 1987 as JobTRAK and acquired by Monster(R), the leading
online global careers and recruitment resource, in 2000, MonsterTRAK
is a leading college recruitment solution that successfully connects
employers with college students, recent graduates and career centers.
MonsterTRAK provides a wide range of entry-level, part-time and
internship job listings, along with resources that enable students to
develop and execute their own career management strategies. Recognized
for the last five years by Student Monitor for offering world-class
customer service, MonsterTRAK maintains superior relationships with
more than 3,100 college and university career centers, MBA programs
and alumni associations nationwide. For more information, please visit
About Monster Worldwide
Monster Worldwide, Inc. (NASDAQ: MNST), parent company of
Monster(R), the premier global online employment solution for more
than a decade, strives to bring people together to advance their
lives. With a local presence in key markets in North America, Europe,
and Asia, Monster works for everyone by connecting employers with
quality job seekers at all levels and by providing personalized career
advice to consumers globally. Through online media sites and
services, Monster delivers vast, highly targeted
audiences to advertisers. Monster Worldwide is a member of the S&P 500
Index and the NASDAQ 100. To learn more about Monster's
industry-leading products and services, visit www.monster.com. More
information about Monster Worldwide is available at
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Securities Act of 1933 and Section 21E of the Securities Exchange Act
of 1934. Such forward-looking statements involve certain risks and
uncertainties, including statements regarding Monster Worldwide,
Inc.'s strategic direction, prospects and future results. Certain
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cause actual results to differ materially from those contained in the
forward- looking statements, including economic and other conditions
in the markets in which Monster Worldwide operates, risks associated
with acquisitions, competition, seasonality and the other risks
discussed in Monster Worldwide's Form 10-K and other filings made with
the Securities and Exchange Commission.
Tara Murray, 978-461-8126
Weber Shandwick (For Monster)
Amanda Keane, 617-520-7260
SOURCE: Monster Worldwide, Inc.