As a recent graduate, the act of finding a job during/after the pandemic is shadowed by a big question mark. Coronavirus hit us all, hard, and from many different and sometimes unexpected angles. The struggle of starting a new career, for example. But do not fret! In this article we are going to bring you some great news and shed light on some potential career pathways that could give you some much needed perspective about what to do after graduating. We have looked into which industries have gone into decline due to COVID-19 and which ones are actually growing as well as the job positions blowing up out there! So, if you are a new grad, keep reading, or, if you know one, send them this article. : )
Which industries have been hit the hardest by COVID-19?
Individuals, communities, populations and countries have all been affected differently by the pandemic. Some patterns, however, have emerged and on a global scale the industries most negatively affected so far have been: Airlines, Leisure Facilities, and Restaurants. Not very surprising, right? But luckily, they are recovering compared to last year. There is light at the end of the tunnel!
Industries most affected during pandemic:
Oil & Gas Drilling
Home Furnishing Retail
Casinos & Gaming
Font: Source: PDMS, S&P Global Market Intelligence, as of March 2021.
According to S&P Global Market Intelligence research, thanks to the rise of e-commerce, changing business models, and of course, the lifting of lockdown, retail industries are recovering quickly, reaching numbers similar to the pre-pandemic times. This is just one example of how technology has been essential to all kinds of businesses (we’ll explore this more in detail below).
All right, so which industries have been impacted the least?
The effects of the pandemic have been vast and varied. Some industries have been much more impacted by ongoing lockdowns, limited freedoms and frozen travel while others have actually...grown! COVID-19 was and continues to represent a huge threat to people and businesses, so it shouldn't come as a surprise that almost everything related to “insurance” hasn’t been so negatively affected (well, except Travel Insurance, for obvious reasons). Also, REITs (Real Estate Investment Trusts) have stayed pretty much solid. Read: during an economic crisis, the super-rich get even richer. But wait, we promise we have some considerably happier news coming up!
Industries least affected due to COVID-19:
Life & Health Insurance
Property & Casualty Insurance
Font: Source: PDMS, S&P Global Market Intelligence, as of March 2021.
The insurance sector was always known as the opposite of innovative, but recently this industry had to firmly embrace digital innovation (read more in this Forbes article). Of course, no one wanted to encounter this terrifying virus nor experience the subsequent pandemic, but in our endeavour towards a new normalcy we should seek the exciting and positive transformations that the chaos might have given rise to. Technology played a crucial role in several markets around the globe, making it possible to escalate ideas, to avoid old bureaucracy and to deliver faster solutions. More than ever, users are looking for a seamless digital experience. From big organisations to the individual user, we all just want services and products that are able to make our lives easier, right? The tech sector has been responsible for helping the most affected industries to recover, and also responsible for making some sectors grow exponentially. Over the past year, for example, the insurtech ecosystem grew by about 35%.
New graduates are facing the challenges of starting a career
For recent graduates it’s harder now to get hired than before COVID-19, with one of the exceptions being within the tech industry. According to research conducted by Monster (employment site) in the U.S.A, 45% of graduates from the class of 2020 are still looking for work. So depending on which field you are seeking work in, it is time to think about plan B or C, but remember - having a plan is important!
Ok, so what jobs are in demand at the moment?
Which industries are hiring the most right now? And how to find a job after graduation? Let’s have a look at some more data made available by Linkedin. Some of the areas in need of employees are transportation & logistics, healthcare (...nurses!), salespersons and real estate specialists. But, between the 10 most in demand entry level jobs, almost half of them are related to technology, including:
Software & IT Services: Top Jobs in this Industry: Software Engineer, Developer, Project Manager, Data Engineer
Manufacturing: Top Jobs in this Industry: Automotive Technician, Manufacturing Engineer, Software Engineer
Finance: Top Jobs in this Industry: Software Engineer, Insurance Agent, Banker
Corporate Services: Top Jobs in this Industry: Software Engineer, Project Manager, Customer Service Specialist
Remote jobs are a great opportunity for new grads
Remote jobs have never been as popular as they are now. You’ve probably seen photos on your feed of people working on their laptops by the sparkling beach holding a drink adorned with small umbrellas with the hashtag #digitalnomad. Whether you are striving for something like this or not, it is becoming more and more the reality of the workplace. Remote and hybrid jobs will be the new nine-to-five! And remote jobs also means remote hiring. So, for example, if you live in São Paulo and you’ve always dreamed of working for a company in the Netherlands, then your chances to do so are growing fast. You go for it!
LinkedIn’s Economic Graph team analyzed (millions of!) entry-level job postings to identify the fastest growing positions listed on the platform. They found some pretty interesting results: at least half of the most common remote positions also require tech skills.
Customer Support Specialist. Top Skills for this Role: Customer Support, Data Entry, Technical Support
Data Analyst. Top Skills for this Role: Tableau, Data Analysis, SQL
Security Engineer. Top Skills for this Role: Information Security, Cybersecurity, Network Security
Product Manager- Top Skills for this Role: Agile Methodologies, Cross-functional Team Leadership, Product Strategy
There are now 3x as many jobs for new grads as compared with last year
Christine Cruzvergara, chief education strategy officer at job-site Handshake, said the listings on the website looking for new graduates were 81% higher in March 2021 compared with 2020, and had tripled in April compared with the year earlier.
We also found a survey from the National Association of Colleges and Employers that says that companies are planning to hire 7.2% more fresh graduates than they did in 2020. Amazing.
Last and not least: the tech area is safe.
As we noted previously, it is more important than ever to let future perspectives drive our present actions, and there is no doubt: the tech industry is currently the safest bet around. Linkedin pinpointed the 5 most in-demand skills for new grads or anyone who is just starting a new career:
Top five hard skills
Software development (Python, Data Algorithms)
How to get hired during corona times as a recent graduate?
As someone who has just finished university or is about to, we imagine that you are more than ready to work, you are excited to show what you’ve learnt, and that you are eager to enjoy your independence. But how do you get into the market these days?
Here are #5 tips that we think you should keep in mind:
#1 Think about the future
If your desired field of work does not have a promising future, then maybe you should consider studying something else or to begin learning something new and potentially prosperous in parallel.
#2 Think beyond your first job
It is also important to think about not only your first job, but also your second and third. Maybe the first opportunity is not going to be your dream job, but it will certainly help you to get there. Step by step. Be the tortoise.
#3 It is time to use your network
Don’t be afraid to reach out to your friends, neighbors, neighbors of friends, friends of neighbors - all of your network (online and offline)! Ask them for their insights and let them know what you are looking for.
#4 Dream big, but remember that fantastic opportunities can be found in small and medium companies
The chance to grow with small and medium businesses is one well worth taking. Have a look at fresh companies out there and startups that are in their infancy. You could be with them from the beginning!
#5 Practice the art of Zoom interviews
You’ll almost definitely need to go through some interview processes online, so you can start practicing now! And remember, no matter how well prepared you are, nothing kills the vibe like lag. Find some good internet!
And an extra one….#6 Apply!
Prepare a nice online CV and/or a cool portfolio. Platforms like Canva or Readymag are fantastic for helping you to create something swish. Check them out, because more so than ever: the first virtual impression is what counts! Also, we suggest adding one more daily ritual and choosing a time of day to check the opportunities on Linkedin or local job websites (and to apply for them)! Stay on top of the game.
Tech is an industry that embraces mistakes
Innovation occurs when people take risks, ”think differently” and don’t shy away from making mistakes. That’s why the tech world is an amazing environment for new grads, especially those who are excited to experiment, create and collaborate together. The salaries are often attractive and the fact that there are so many remote opportunities out there is also a big plus.
Like what you’ve read? Now that you have a little more information about the growing industries of today, we highly encourage you to do your own, deeper research about those sortafter positions we mentioned, and see if you can imagine yourself in any of those professions, now or in the near future.
Also, have a look at our Bootcamps in Web Development, UX/UI, Data Analytics and Cybersecurity. In just 9 weeks, you can be ready to join the tech market. It’s that fast!