Top 2 Challenges Facing May Accounting Grads

Group of Diverse International Students Celebrating Graduation

Many of you are graduating this May and will be actively searching for a job.

I’m not going to lie: you are LATE!

But that doesn’t mean you are doomed to fail.

Here are the two top challenges you are facing:

1. Student Loans

What I’m about to tell you is not my own opinion, it’s original data that comes from the United States Federal Reserve and national credit bureaus.

  1. 40 million Americans are now in debt because of their university education, and on average borrowers have four loans with a total balance of $29,000.
  2. According to the Fed, “Student loans have the highest delinquency rate of any form of household credit, having surpassed credit cards in 2012.”
  3. Since 2010, student debt has been the second largest category of personal debt, just after a home mortgage.
  4. Only 37% of total students loan balances are currently in repayment and not delinquent.


Those numbers are terrifying. And to add insult to injury….

2. Underemployment

About 48 percent of employed U.S. college graduates are in jobs that the Bureau of Labor Statistics (BLS) suggests requires less than a four-year college education.

(source: Center for College Affordability)

This video is proof of just how bad underemployment can be…

Accounting Grads Don’t Have to Be Victims

The good news is, you didn’t choose a crummy major.

As I mentioned in my article earlier this week about the 40 year old still failing the CPA examYou must never confuse faith that you will prevail in the end—which you can never afford to lose—with the discipline to confront the most brutal facts of your current reality, whatever they might be.

You can look at these numbers I mentioned and use them as an excuse. Or you can understand that these numbers don’t have to apply to you!

I went from being broke last year ($1,500 in savings and $55,000 in student loans) to paying off all my debt and amazing a stockpile of savings. That’s right, 63% of americans aren’t repaying their student loans and I paid off mine in less than 3 years from graduation!

Who are you going to be? The broke debtor who complains about statistics?

Not me.

I love hearing these statistics and trends but I don’t for a second consider myself victim to any of them.

And neither should you.

If you are graduating without a set job and thinking about moving in with mom and dad, think again. 

You have a month to get it in gear!

You need to get on a path to earn enough to support yourself.

You need to start by:

  1. Put together a list of 20-30 companies you want to work for
  2. Prepare a cover letter and resume
  3. Email each companies HR, CFO’s/controllers, or partners directly
  4. Prepare for interviews

(Like this week!)

Now is the time, you are already behind. I put together this course to help people facing exactly what your facing. Don’t be a statistic….

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Learn: How to Get Any Accounting Job in 3 Months or Less