Information technology or information systems college degrees have a fairly high unemployment rate for recent graduates at 14.7 percent. This information is according to a recent study done by Georgetown University. This number alone does not tell the whole story. Once you analyze the complete picture for those working in this field it becomes apparent that this number is only a snapshot of the employment situation for a specific group of people at this moment in time.
Looking beneath the numbers
If you look at the unemployment numbers for college graduates with an IT major that have experience in the workforce, the unemployment number drops to 4.4 percent. Those with a graduate degree only have a 5.4 percent unemployment rate. Recent college graduates finding employment are getting an average salary of $40,000. If you are looking to find a job with a recent degree in information technology, you need to be patient. It may take a little longer to get the job you are looking for, but in the long run, an IT degree will be worth it. The same Georgetown study also showed that graduates with experience in the field were averaging salaries of $66,000, and this was for those with a four year degree. Those with graduate degrees in IT were making on average $81,000.
The great recession took a toll on college graduates of all majors
Since the collapse of the economy in 2008, all college students recently graduating have been hit hard with unemployment. There are some college degrees that have long term prospects that are bleak; information technology is not one of these. This type of work is related to computer technology, and it was in this area of the economy that was hit hard. Now, with unemployment still high, college graduates face a lower unemployment rate that is only half the national average. It is higher for recent graduates, but this only means that patience is needed when you first begin searching for work after graduation.
Getting a college degree is still worth it
On average, a college graduate makes twice that of a high school graduate. The numbers do not lie. Of course, there are exceptions to this. There are a few high paying jobs for people with only a high school diploma just as there are a few college majors that do not pay high salaries, but all of the exceptions aside, having a college degree will pay off in the long run. If you are contemplating getting a degree in information technology, do not let unemployment numbers scare you. This is a strong area of study and will produce an interesting and financial rewarding career.
The future of information technology looks very good, and this is evident in the low unemployment numbers for those who already have work experience. If you are currently pursuing a degree in information technology or are considering making it your major, there is no reason change your plans. The economy is still in a slow but steady recovery phase, and earning a degree in information technology will lead to a good career that offers steady employment and good pay.