Tech layoffs and an uncertain economy are prompting Gen Z to apply to more stable industries such as retail and finance. Taiyu Nomachi / Getty Images

• A Handshake survey found that incoming college graduates are not interested in Big Tech jobs.
• Instead they are submitting job applications in the retail, finance and manufacturing industries.
• According to the survey, searches for big tech brands have declined by about 15% compared to last year’s class.

A recent Handshake survey found that incoming college graduates are less interested in jobs in Big Tech. Instead, students say they are prioritizing stability and well-paying positions by submitting job applications in the retail, finance and manufacturing industries.

Tech layoffs and an uncertain economy, concerns about the effects of new AI technologies, and conflicting opinions on hybrid work arrangements are all major issues for this recent class. Amid these changes in the workplace, Gen Z is focusing on steady employment — with the latest graduating class showing less interest in Big Tech, according to data from college student career site Handshake.

For its survey, Handshake surveyed 954 students from the Class of 2023 in March and analyzed search traffic data. The career site found that searches for Big Tech brands from the Class of 2023 dropped by about 15% compared to last year’s class.

Instead, the Class of 2023 is looking to major in retail, finance and manufacturing. Raytheon, Nike, Toyota, Chevron, Capital One, Bank of America and NASA are among some of the companies that saw an increase in search traffic.

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This graduating class “has moved far away from the volatility seen in the news around Big Tech,” Christine Cruzvergara, Handshake’s chief education strategy officer, told CNBC Make It. “They are attracted to companies that are offering solid benefits, career paths and a level of stability.”

That doesn’t mean that graduating students are shunning technology entirely. Nearly 3 out of 4 graduates said they want to develop new technical skills in the next few years. And most of this class already has some experience with a technical skill: 85% of these graduates said they have experience with at least one technical skill, such as data analysis or information technology.

This contrasts with the findings of a ResumeBuilder.com survey last month, in which nearly 74% of managers and business leaders feel Gen Z is the most challenging group to work with. In that survey, 40% of managers said these challenges stem from a lack of technical skills among Gen Z workers.

These skills could help them keep up with changes in their fields thanks to generative AI – a topic that was top of mind for these graduates. Less than half of respondents to the Handshake survey said they were concerned about how these generative AI tools would affect their careers, but 60% admitted they expect the technology to dominate their fields within the next decade. Will affect

They also want their jobs to be at least partially in-person – and they believe this in-office face-time will help benefit their careers. Seven out of 10 respondents said they want to work in a blended work environment, and even fewer said they want to work completely remotely.

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Source: www.bing.com