Start spreading the news: New York, NY has topped a new list from Bankrate highlighting the best cities for college graduates to start their careers. Other top cities include Los Angeles, San Francisco, Washington, D.C., San Jose, Chicago, Seattle, Dallas and Philadelphia. This article by Claes Bell of Bankrate offers details on what makes these cities so promising for college graduates.
Deciding where to start your career after college can be overwhelming.
College graduates are uniquely positioned to make a deliberate choice of where to move, says David Albouy, associate professor of economics at the University of Illinois.
“They’re building their careers, and they’re also in this kind of exciting period in their lives when they don’t have a lot of responsibilities,” he says.
For recent graduates, Bankrate has determined the top 100 American cities for launching a career, based on jobs, pay, quality of life, career advancement and social factors.
New York. In the song that’s a staple at New York Yankees games, Frank Sinatra sings, “If I can make it there, I’m gonna make it anywhere.” That sums up the challenge that New York poses for young college grads. The city’s devilishly competitive job market – it has the 18th highest unemployment rate for those in their early 20s and the 12th highest for graduates – makes the prospect of landing that first job daunting. But the rewards can be enormous for those who manage to gain a foothold. New York comes in No. 1 for career advancement potential.
Los Angeles. For college grads who want both a great social life and speedy career advancement, Los Angeles may be a great landing spot. L.A.’s high percentages of 20-somethings and college graduates push it near the top for social opportunities. In addition to a potentially thriving social life, new grads will benefit from a quality of life that’s ranked 6th in the nation. The city boasts a huge range of employment options for workers and is 2nd in the nation for the numbers of jobs in management, business, science and arts occupations, as well as office-centered occupations. Because of that, L.A. scores 2nd overall when it comes to career advancement potential.
San Francisco. For starters, young graduates who move to San Francisco will find the best quality of life in the country, according to our research. And, in addition to scenic vistas and a vast array of restaurants and bars, they’ll also have excellent prospects for a big payday, driven by very high per-capita income, median income and per capita GDP. San Francisco also ranks No. 5 for career advancement, with large swaths of the population, as you’d expect, involved in lucrative management, business, science and arts occupations.
Washington, D.C. The nation’s capital is known as a magnet for the ambitious, so it’s only fitting that we found Washington is a top place for graduates to get ahead. The city ranks 3rd overall for career advancement, due in large part to its ample supply of jobs in management, business, sciences and the arts. College grads who aspire to make a lot of money may find the D.C. area the place to be. The city has the 4th highest prospects for achieving a big paycheck, boasting a median income and per capita GDP that are among the highest in the U.S.
