Landing your first job has become more difficult than ever in today’s competitive market.

Forget about getting a job. It’s also hard to maintain your jobs these days.

Companies continue to see a significant number of layoffs in 2024. According to Layoff.fyi, 186 tech companies have laid off 49,386(!) employees this year.

Can a recent graduate land their first job under current market conditions?

Absolutely.

This article outlines effective strategies for landing your first job and highlights high-paying entry-level positions available in the current market.

1. Internship is a must

Eric could get his first job as a consultant at Deloitte Chicago without the internship experience in 2016.

Getting a full-time job at Deloitte without an internship was uncommon. Eric recalled that he was lucky.

These days, it’s almost impossible to land a job without an internship.

Some of the new graduates who were recently hired mentioned that doing an internship and then getting a return (full-time) offer is the only real way to land your first job.

2. You need to prepare for the internship early because the timeline doesn’t match

Eric started his master’s degree at Harvard in August 2018.

He dreamed of interning at big tech companies like Google, Meta, and Apple.

Here was his master plan: absorb as much knowledge as possible in the first semester and leverage it to nail the interviews and secure an internship in the spring semester.

However, big tech companies all finished hiring interns in mid-October!

Wait, what? What does this mean?

You need to acquire the knowledge required for interviews well in advance of covering it in your coursework in school.

The same principle applies to undergraduate students.

Students typically begin searching for internship opportunities in their junior year, looking to start their internships upon completing that academic year.

The issue is this: many crucial concepts, likely to be covered in internship interviews, are taught during the junior year.

These interviews often take place at the beginning of the junior year, before students have had the chance to learn those concepts.

What does this mean?

Students should learn the concepts taught in their junior year earlier, or take those courses during their sophomore year to better prepare for internship interviews.

Sounds strange, right? But this is the reality.

3. Referral is a must

An employee referral, a recommendation of a candidate for a job opening by an existing employee, used to be a “nice-to-have”.

It’s a must now.

Your chance of landing a first-round interview will dramatically increase if you have a referral.

Securing a referral involves dedicated effort: identify an upperclassman who completed an internship at your target company, then initiate contact to build a rapport, to hopefully earn the referral from him/her.

Many people are inclined to help others, especially students, so actively seeking advice from upperclassmen can result in valuable help and guidance.

Furthermore, directly asking about the interview process from individuals who have interned at your target company is a more efficient use of your time than searching online for potential interview questions.

Investing 2-3 hours to identify and connect with someone who could potentially offer you a referral is more advantageous than dedicating the same amount of time for interview preparation.

High-paying entry-level jobs for college graduates

1. Software Engineer ($104,000 - $158,000)

Software engineers code, test, and refine applications or systems to meet specific user needs. They use programming languages and development tools to build software, ensure its functionality through testing, and update it for performance improvements or new features.

Given the strong demand for tech talent and the specialized skills needed to become a software engineer, entry-level salaries can easily surpass $100,000 (Source).

This salary is often justified, considering that software engineering students undergo a challenging curriculum, dedicating substantial time to rigorous courses and extensive project work in school.

2. Investment Banking Analyst ($170,000 - $190,000)

Investment banking analysts conduct financial analysis and modeling to support mergers, acquisitions, and capital-raising transactions. They prepare pitch books, perform company valuations, and analyze market data to advise clients on strategic decisions.

With high competition and a rigorous recruitment process, entry-level salaries, including base compensation and bonuses, can easily surpass $150,000 (Source).

This salary is often warranted given that an investment banking analyst contributes significant value to the bank, dedicating at least 70 hours a week to a demanding schedule.

3. Consultant ($70,000 - $140,000)

Consultants analyze business challenges, develop strategies to address them and advise companies on implementing solutions to improve performance and efficiency. They work across various industries, conducting research, analyzing data, and presenting recommendations to clients.

Eric chose consultant as his first job since he wanted to dig deep into different industries in a short timeframe and travel to different cities for work. He ended up working for clients across three different industries (retail, finance, and banking) and traveled to more than 10 cities in the US.

The salary for an entry-level consultant is competitive, ranging from $70,000 to $140,000 for top consulting firms like McKinsey, BCG, and Bain (Source).

4. User Experience Designer ($79,000 - $124,000)

User experience designers, better known as UX designers, focus on enhancing user satisfaction with a product by improving the usability, accessibility, and pleasure provided in the interaction with the product.

They conduct user research, create personas and journey maps, design wireframes and prototypes, and test designs to ensure they meet user needs.

The salary for an entry-level UX designer is competitive, ranging from $79,000 to $124,000 (Source).

5. Data Scientist ($100,000 - $150,000)

A data scientist analyzes and interprets complex data to help organizations make informed decisions. They use a combination of statistical analysis, machine learning, and data visualization techniques to uncover trends, predict outcomes, and provide actionable insights.

With the recent boom in AI, the demand for data scientists is high due to the specialized skill set required in the role, which includes expertise in statistics, machine learning, programming, and data visualization.

Not surprisingly, the salary for an entry-level data scientist is competitive, ranging from $100,000 to $150,000 (Source).

Conclusion

Landing a high-paying job after college is an excellent achievement, but it shouldn't be the sole objective of going to college. Chasing money without discovering who you are can quickly lead to a dead end and you’ll lose purpose in life.

What's most important is to explore different courses in college, discover your genuine passions, and determine your career path for the future.

Once you discover your passion, the earlier the better, don’t forget to follow those three steps laid out to safely land your first job after college.

Good luck! ☘️