New grads may have a harder time landing their dream job, despite a strong labor market — here’s why

The job market for recent college graduates remains positive despite some setbacks.

Employers are hiring, and the unemployment rate is low.

However, salaries may not meet expectations, and some employers are scaling back on new graduate recruitment.

New grads are facing a disconnect between their salary expectations and reality, with the average starting salary hovering around $62,000.

Some companies are reducing hiring plans, and graduates may face increased competition for fewer positions.

Despite these challenges, young professionals are being selective in their job searches, prioritizing remote flexibility and work-life balance.

Over 60% of graduates express a preference for hybrid work schedules.

While remote options may be limited for entry-level employees, companies with remote work policies give job seekers a broader geographical reach and access to more opportunities.

Location plays a significant role in both salary and affordability.

New York City offers the highest new graduate hiring rate but ranks as the least affordable city, with a high cost of living that can diminish the real value of the average starting salary of $64,134.

In contrast, salaries in Austin, Texas, go further due to its lower cost of living.

Job seekers should be aware of the potential gap between expectations and reality, prioritize their preferences, and consider the impact of location on salary and expenses.

Despite some cooling in the job market, young graduates remain confident in their prospects and are determined to find positions that align with their values and goals.