Benefits Top the List of Factors Considered When Considering Employment Opportunities

MCLEAN, Va.--(BUSINESS WIRE)--June 10, 2008--As the class of 2008 begins its post-collegiate journey into the workforce, the expectations these millennials have of their "ideal" employers and their view of the current job market are being heard thanks to a survey from leading financial services company, Capital One Financial Corporation (NYSE:COF).

The majority (51.5 percent) of the new graduates surveyed plan to begin looking for jobs and start their careers right away, while 31 percent plan to go immediately on to grad school. For the career minded, strong benefits packages top the employment wish list with two-thirds (66 percent) of recent college grads ranking comprehensive benefits packages (including, for example, healthcare, 401k program, childcare, and domestic partnership benefits) as the most important factor in their search for employment. Starting salary ranks a close second at 64 percent and job location rounded out the top three job considerations for the graduates surveyed with 60 percent saying it was it important. Today's graduates also want to be rewarded or compensated (for example, through comp time or matching donations) for their volunteer and philanthropic activities.

"Benefits and financial rewards have always been an important factor for job seekers. Our associates and new recruits have also told us that they want an intellectually challenging environment and really value work-life balance," said Matt Schuyler, Chief Human Resources Officer of Capital One. "At Capital One, we take a holistic view of life at work to create a productive and rewarding environment. We focus on providing our people with the right tools and technologies to allow them to work when and where it's most effective. It's what we call the Future of Work - an open and flexible environment that gives associates the freedom to balance their professional and personal lives."

Capital One's Future of Work program is designed to appeal to all generations of workers; from millennials to baby boomers. It integrates technology and an open-air office concept to provide a more flexible and efficient work environment. For example, college grads receive an iPod when they accept an offer to work with the company preloaded with books like The Tipping Point, by Malcolm Gladwell and How to Think Like Leonardo da Vinci, by Michael J. Gelb. This enables associates to learn remotely, conveniently and at their own pace, as compared to a more regimented classroom environment. The flexibility of Capital One's Future of Work environment also enables associate mobility through technology, including laptops, BlackBerry devices, instant messaging, and a voice-over Internet ("VoIP") phone system that allows users to activate their phone number at any workstation they select. Capital One believes that work is what you do, not where you do it.

Graduates Perceive a Challenging Job Market

Capital One's survey also revealed a pessimistic view of the current job market, but grads say they are optimistic about their personal prospects. Nearly half of the new graduates surveyed (48 percent) believe that, while there are some jobs available, there are not enough for all new graduates and 44.8 percent believe that there are fewer job opportunities than in previous years. Yet, despite these perceptions, 85 percent of the current graduates anticipate finding a job within the next six months.

"Regardless of the market environment, Capital One is always focused on finding the best people available and offering a work environment that's intellectually challenging and second to none," said Schuyler. "Just as we have attributes that we are looking to find in our new recruits, it is important for new graduates to think ahead and prioritize the factors that are most important to them in an employer."

For those who do not have a job lined up upon graduation, you are not alone. Only 40 percent of those surveyed reported having a job waiting for them upon graduation. For those who do not have a job lined up, Capital One offers this advice:

• Make a list of prospects. Establishing a priority list of ideal companies will ensure you are on task and actively working toward gainful employment. Do your homework to look for available job postings and learn as much as you can about the company you're interested in so that you are knowledgeable and prepared when you go to an interview.
  
  
• Start networking. Networking - through both personal and professional contacts - can be one of the best way to find a great job. Make a list of all your contacts and how they might be able to help you. Reach out to the people who are working in the field you're interested in pursuing and any who work for companies that interest you.
  
  
• Highlight your experience. "Real world" experience can provide a significant edge so, on your resume and when interviewing, highlight any relevant work experience (including part-time or summer jobs), internships, and volunteer efforts that demonstrate your initiative or your interest in a particular field.

Ranked among the "Best Places to Work" by Fortune Magazine, one of the "100 Best Companies for Working Mothers" by Working Mother Magazine, and recognized as one of the "Top 50 Companies for Diversity" by DiversityInc, Capital One also has an award-winning training and leadership development program, ranking second overall on Fortune Magazine's "Top Companies for Leaders" list. To find out more about working at Capital One, please visit http://capitalone.com/careers/.

Survey Methodology

The findings reported in this release are from a telephone survey conducted by the survey opinion research firm, Braun Research of Princeton New Jersey. Braun Research was engaged to conduct 400 interviews with men and women of the class of 2008. Some had just graduated or were about to graduate, but all respondents either graduated or were planning to do so this semester. All respondents were contacted either at home or in a dorm in households or colleges or universities across the United States. Surveys were conducted by telephone from May 23rd through May 26th, 2008. The margin of error for the interview is plus or minus 4.9 percentage points. Interviews were monitored at random.

Sampling for this study was conducted using a representative sample of households across the United States as well as samples of exchanges in areas around colleges and universities pulled from college directories. All interviews were conducted using a computer assisted telephone interviewing system. Statistical weights were designed from Census data available at www.uscensus.gov

About Capital One

Capital One Financial Corporation (www.capitalone.com) is a financial holding company whose subsidiaries collectively had $87.7 billion in deposits and $148.0 billion in managed loans outstanding as of March 31, 2008. Headquartered in McLean, Va., Capital One has 745 locations in New York, New Jersey, Connecticut, Texas and Louisiana. It is a diversified bank whose principal subsidiaries, Capital One, N.A., Capital One Bank (USA), N. A., and Capital One Auto Finance, Inc., offer a broad spectrum of financial products and services to consumers, small businesses and commercial clients. A Fortune 500 company, Capital One trades on the New York Stock Exchange under the symbol "COF" and is included in the S&P 100 index.

CONTACT: Capital One Financial Corporation
Tatiana Stead, 703-720-2352
tatiana.stead@capitalone.com

SOURCE: Capital One Financial Corporation