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Is there any hope for college grads?

I have a number of people ask me about my new company, Facticiti. Essentially, they want to know what exactly we do. In a nutshell, Facticiti provides personalized career guidance using scientific-based self-assessments. I want to distill that down even further. Simply, we help people find their ideal career. That’s it. Everything I read about the difficulties young people have when searching for a career came home when watching my own son struggle with these decisions. People need more help than ever in understanding the myriad choices available for post-secondary education opportunities, identifying a major and then securing a career where they will be successful. It’s hard and it’s stressful and there are no guarantees, which is why Facticiti set out to help 100 million people get excited about going to work everyday.

Let me throw out a few numbers. Unemployment rate for newly graduated college students is in excess of 12%, nearly twice the overall unemployment rate. Underemployment (an even better measure) is approximately 56%! (According to the New York Fed). Can you imagine investing four or more years of your life and six figures only to enter a profession that did not require it? No wonder young people are angry and frustrated.

What that means is that after all that time and money you spent, you could only find a job at Starbucks, Abercrombie + Fitch or a check-out clerk at your local grocery store. Don’t get me wrong, there is absolutely nothing in the world wrong with working these jobs. In fact, I applaud anyone for going out and getting any kind of job. However, when you are the brand new owner of a $1200/month student loan payment, you have no chance to repay that loan working as a barista. And, if your ideal job is mixing a mean latte, then that’s awesome. Go forth and froth! Rather, skip college and save yourself the debt and become the very best barista the world has ever seen.

For people like me (Gen X) and my parents (Baby Boomer), college was a “right of passage” that was affordable even if we did not enter into a professional career. However, with the cost of college today that continues to skyrocket, is it still a relevant right of passage? Let Facticiti answer that question for you.

Do you have a story to share? We’d love to hear from you as we continually expand our product and service offerings.