As any follower of #WorkTok knows, workplace perks at the likes of Meta, Google and Amazon not only spawned hundreds of hours of “A Day in the Life” style office tours, but they also highlighted how lucrative a career in tech can be.
But it seems the halcyon days of complimentary snacks and meals, on-site gyms and unlimited paid time off (PTO) are over as organizations tighten their belts, restructure staff numbers and cull additional benefits too.
As part of its self-imposed “year of efficiency”, Meta has not only laid off 10,000 staff globally, it has also halted free laundry and dry cleaning services for employees.
At Salesforce, the specialty baristas that previously resided at its San Francisco headquarters have been shown the door. The company’s partnership with Trailblazer Ranch, a wellness retreat that offers skills workshops along with yoga and other outdoor pursuits, has also been terminated. Additionally, its extra paid day off every month for wellness has been revoked.
Meanwhile, Google’s parent company, Alphabet, is cutting back on its spending in cafeterias and will be offering fewer yoga classes and massages as part of its “multi-year” effort to cut back on costs.
In a leaked employee email, Google’s chief financial officer Ruth Porat highlighted that the company will be closing cafeterias on days when there is less staff in-office in an effort to save money and use “investment opportunities to drive technology forward—particularly in AI”.
Outlook is far from bleak
So what does that mean for today’s graduates? The overall outlook is far from bleak, despite the headlines.
According to Pew Research Center, college graduates out-earn those who have a high school diploma and are more likely to be employed.
Couple this with the data from the National Association of Colleges and Employers, which found that organizations were planning on hiring 14.7% more from the class of 2023 than they hired in 2022.
However, with salaries declining—wages are projected to drop by 4% for the class of 2023—it’s never been more prudent to nail your negotiation skills when accepting a job offer, particularly if perks that would have saved you thousands of dollars are now off the table.
Also, look more closely at the quality of the tangible benefits on offer—health insurance, student loan repayment plans and learning and development (L&D) budgets available for staff can help you determine the real value of your salary.
Top Companies Hiring Graduates Today
Ready to get your career started? Below are three companies that are currently hiring interns and new graduates—and there are many more to discover on The Grad Cafe Job Board.
Intern, Morgan Stanley, Kansas City
Interested in a career in wealth management? Morgan Stanley is seeking an Intern to join its Kansas City team. This opportunity will allow you to gain industry and organizational knowledge, and you will also develop the business, financial and analytical skills needed for a career in global wealth management and financial services, and provide marketing and sales support to branches and their teams. Applicants should be at least 18 years old, have a high school diploma and be in pursuit of a college degree. See more details here.
Intern, UBS, Greenville
Are you a motivated self-starter? Do you have a passion for sales? If you’re ready to dive into a fast-paced, client-focused work environment, an internship at UBS may be the right fit for you. As an Intern you will work with experts and learn about the industry, prospective clients and the firm. This is an opportunity to gain valuable insight, develop new skills, and establish a network of mentors and business contacts. To apply you will need to be enrolled in a two or four year college or university. View the full job description here.
Intern, Smurfit Kappa North America, North Richland Hills
The internship program at Smurfit Kappa North America provides students with the opportunity to gain on-the-job experience that cultivates growth and advancement in a career path of their interest and passion. As an Intern you will assume a specialized role in operations, design, finance, human resources, environmental health and safety or sales. You will need to be a junior or sophomore pursuing a Bachelor’s or Master’s degree with a GPA of 3.0 or higher to be considered. Fluency in both English and Spanish is helpful, but not required. Get more information about this role here.
