[Study] First job in times of crisis

A study by the EDHEC NewGen Talent Centre® involving graduates from CentraleSupélec and EDHEC Business School.

The slowdown in the global economy will have an impact on the career prospects of young graduates from the autumn of 2020. This is not the first crisis to hit the world of recruitment. In less than 30 years, three major depressions have rattled the job market. Whether geopolitical (1993), technological (2000) or financial (2008), the economic consequences of these crises made it challenging for young graduates to find their first job.
So their experience can enlighten today’s young graduates, we reached out to graduates from CentraleSupélec and EDHEC Business School who faced an unfavourable job market when starting out in their careers.
How did they go about looking for their first job against the backdrop of a crisis? Did it have lasting effects for their career. And how did they find their first job?

First finding: to get their first job, candidates must be more proactive and on the offensive in times of crisis.

In a favourable market, most candidates get their first job after an internship at the end of their studies, an apprenticeship or having alternated between studies and work (39% of responses from CentraleSupélec engineering graduates and 29% from EDHEC).
But in an unfavourable market, internships are a less “natural” stepping stone to one’s first job, and so a more proactive strategy must be adopted in times of crisis.
Systematically applying for jobs across a broader spectrum, emphasising all of the diverse experiences gained during one’s studies, submitting many unsolicited applications and mobilising the network of graduates are the most effective job-hunting methods.
This upheaval of the hierarchy of job-hunting processes reflects the reluctance of companies to recruit.

Second finding: agility and adaptation are essential qualities ... and a corollary advantage of the crisis.

62% of graduates believe that finding their first job during an economic crisis enabled them to develop agility and a capacity for adaptation (73% of EDHEC and 52% of CentraleSupélec graduates).
Our respondents, who faced a reality they had not anticipated, felt that looking for a job during a crisis forced them to adapt. They had to show resilience and flexibility by opening up their job search to sectors and positions beyond their initial career plans. In some cases they had to undergo training or change country.
They also had to be more realistic and energetic and rely more heavily on their personal contacts or alumni network.
Some graduates had to accept an unplanned move, remaining in France instead of travelling abroad or vice versa.
Others decided to undergo additional training and wait for better times.
Being flexible about the position sought, the employment contract and the type of firm, as well as following less traditional paths by applying to lesser-known companies and accepting compromises on salary, are some of the ways one can find that elusive first job.

Third finding: the impact on careers of job-hunting difficulties in times of crisis is ultimately low.

In hindsight, 4 out of 5 graduates from CentraleSupélec and EDHEC feel that their careers did not suffer from the difficult circumstances faced when looking for their first job.
Only 21% of respondents say it took longer than expected to get started or that they moved into a sector they were not initially targeting or accepted a salary with little negotiation.
In summary, the findings of this study are reassuring: the challenges respondents faced simply delayed the fulfilment of their ambitions. 

What advice do you have for young graduates currently looking for a job in a difficult climate?

Be proactive and visible and keep an eye out for opportunities:

• It is essential to update your profile on professional social media like LinkedIn, but also on alumni websites.
• Finding an alternative occupation (personal project, additional training, volunteer work, professional club activities) is a way to maintain your motivation levels, establish new relationships and enrich your CV. Organising a theme-specific event linked to a project in a professional club with a focus on a specific sector or position will offer you visibility and be of benefit to your job search.
• Highlight your experiences and skills by presenting yourself as a solutions provider ready to go: this is an attitude particularly appreciated by recruiters.

Be methodical and prepare for your interviews: 

• Keep an eye out for information specific to the sector or position you are interested in
• Rehearse for your interviews and perfect your sales pitch
• It’s easy to keep track of your applications and other initiatives on a spreadsheet, which will make sure you don’t forget anything or make errors in your diary entries
• Systematically find out about your interlocutor before each interview using LinkedIn or an alumni directory
• Personalise your communication for better quality; this is an essential mark of courtesy for any addressee

Define your career plans

• Know what you can and want to bring to the job market, for example by drawing up a list of your skills. This allows you to be clear about your career plans and if possible to set a long-term objective
• But also know how to adapt your plans to the sectors and positions that are hiring. Times of crisis force businesses to continue to develop (production and business development), improve their management (control and risks) and always ensure compliance (regulated professions).

Be ready to modify your search criteria

• Be flexible and smart; don’t stick to too narrow a target
• Put yourself in a position of learning and be willing to adapt to a different area of expertise: these are essential skills for anyone in a position of responsibility given the ever-increasing speed at which technology is advancing
• Recognise that your first job is just one phase and that nowadays career progress is segmented and incremental

Reach out to your network. Job offers in times of crisis are not always visible and will sometimes require you to:

• look for contacts in your personal network and in the Alumni directory once you have identified your targets
• intelligently solicit the Alumni network to access information or hidden job offers

To conclude, times of crises require intellectual, physical and psychological mobility. Although they make it harder to find your first job, ultimately they have little impact on the careers of graduates in the long term. 

About the EDHEC NewGen Talent Centre 

Understand the aspirations, behaviour and skillsets of upcoming generations to experiment with and roll out innovative and effective talent solutions.
First set up in May 2013 under the supervision of Manuelle Malot, the mission of the EDHEC NewGen Talent Centre, in line with the credo "Make an Impact", is to tackle the challenge of attracting upcoming generations and securing their loyalty and commitment.
To find out more: https://careers.edhec.edu/newgen