Career Bummer: Business Grads Most Underemployed Undergrad Major
Hold onto your graduation cap. Business majors are having a hard time find work in the field of their choice. The recently released “Underemployment In America” report by PayScale found that graduates who studied business management and administration were 8.2 times more likely to be underemployed compared to their classmates reports Business Insider. The underemployed are seeking full-time work, but only manage to work part-time.
And surprisingly, English majors, who are most often through of as unemployable, have twice as more chance of landing a job in their field than business grads. Overall, English majors were 4.6 times more likely to be underemployed than their peers, according to the survey, which identified the 10 most underemployed undergraduate majors based on an analysis of 40 million career profiles on its site.
The chances of employment in the business field is increased with an MBA. “The problem with business majors is that it’s so common,” Katie Bardaro, lead economist at PayScale, told Business Insider. “There’s so many of them and not enough jobs to go around.” Over-saturation drives down prospects and pay. “The typical starting median pay for underemployed graduates can range from $19,000 to $49,600,” reports the Atlanta Journal-Constitution.
Among the other majors with high levels of underemployment in the report were: criminal justice (6.9 times more likely to be underemployed), drama and theater arts majors (6.9 times), anthropology (5.8 times), liberal arts (5.6 times), history (5.5 times), and psychology (five times).
When looking at the different types of schools, PayScale found that business schools also had the highest relative ratio of underemployment (1.17 times the national average). Engineering schools however, had the lowest (0.36 times the national average).
Are you surprised by this news?