Introduction

Fall 2017 Fellow
Johnathan Christie  Investment Operations Associate, Prudential

20
21

Jobs Report

We are proving what’s possible when you empower the next generation of leaders with the skills, networks, experiences and confidence necessary to launch a strong career.

What does this report cover?

bravenx Fall 2019 Fellow
Charla Kelsey  Operations and Technology Intern, CIBC

COVID-19 has shifted the reality of our nation, especially for our young people who are or soon will be entering the workforce. In this report, we dive into two questions to assess our impact:

Are Braven Fellows
getting strong jobs that
put them on the path to the American Dream?

01

Is Braven supporting Fellows on the path to internships and college completion?

02

We also share what we’re learning about the impact of the pandemic and economic crisis on our nation’s college students and recent graduates including Braven Fellows.

Why our
work matters

Before the pandemic, only 30% of the 1.3 million low-income or first-generation college students who enrolled each year graduated and secured a strong first job or entered graduate school.1 That’s more than 900,000 students every single year who weren’t on the path to the American Dream. Now, the number of students whose dreams have been deferred is even greater.

1 Composite statistics based on national sources, including NCES, NACE, The Federal Reserve Bank of New York, among others

Fall 2020 Fellow
Kelsey Goune  Co-Coordinator for the Lehman Chapter of Peer Health Exchange

“Braven has shown me that I am capable
of achieving my
career goals.

I developed the confidence and drive
I need to make my dreams come true.”

Fall 2018 Fellow
Annalycia Escobar  Global Marketing Communications Intern, Advantest

Mission

Braven empowers promising college students with the skills, confidence, experiences, and networks necessary to transition from college to strong first jobs, which lead to meaningful careers and lives of impact.

Vision

The next generation of leaders will emerge from everywhere.

The Braven Model

Braven empowers promising underrepresented young people—first-generation college students, students receiving Pell grants, and/or students of color—on their paths to launching successfully into the modern economy through two offerings:

CORE MODEL & BRAVENX

Semester-long cohort-based course for students in either large four-year public universities for credit or for those associated with college success organizations for a stipend.

BRAVEN CAREER BOOSTER

Two-week virtual program to support recent alums who are graduating into the most challenging job market of our lifetime.

01

Are Braven Fellows getting strong jobs that put them on the path to the American Dream?

THE COVID-19 REALITY

Nationally, the pandemic has made it harder than ever for graduates to secure strong opportunities after college

The national baseline for quality first jobs for
all college graduates at the 6 month mark has fallen from
56% to 41%.1

15

PERCENTAGE
POINTS

The national baseline for Black and Latinx college graduates
at four year public schools has fallen from
49% to 36%.1

13

PERCENTAGE
POINTS

Entry-level hiring has been dramatically altered

COVID-19 caused a sharp drop in employment and job postings across all workers. And while more experienced higher-wage workers already in the workforce have been among the fastest to recover, new job seekers are facing a cliff. 2

Additionally, many graduates who had secured job offers before the pandemic have had them rescinded.

61%

Reduction of new entry-level postings 3

25%

employers who closed open positions or rescinded offers to graduating students 4

1 National estimates of recent college graduate employment are based on data from NACE’s First Destination Survey, Strada & Burning Glass Technologies’ Report: The Permanent Detour, unemployment and underemployment from the NY Federal Reserve, and National Student Clearinghouse Research Center’s Monthly Update on Higher Ed Enrollment.
2 Opportunity Insights Economic Tracker, Coronavirus and US Job Postings Through August 14: Data from Indeed.com

Implications of
underemployment

Nationally, recent college graduates are more likely to be underemployed than college graduates overall even if they have secured a job.

5X

Students who are initially underemployed after graduation are 5 times more likely to be underemployed after 5 years than those who were not.5

3 The uncertain present and future for recent graduates
4 Michigan State University Collegiate Employment Research Institute report, “Recruiting Trends 2020-2021
5 Burning Glass Technologies and Strada Institute for the Future of Work (2018), “The Permanent Detour: Underemployment’s Long-Term Effects on the Careers of College Grads”

spring 2018 Fellow
Wisaam Saleem  Business Operations Associate, ZS Associates

“Being part of Braven broadened my horizons and helped me navigate my path to success.”

HOW FELLOWS ARE FARING

In 2020, 420 Braven Fellows graduated from college. This new class is outpacing their peers nationally in strong job attainment by 22 percentage points (58% vs 36%) within six months of graduation.

six months after graduation

fellow demographics

1 We have jobs data for 87% of our FY20 graduates.
2 National estimates of recent college graduate employment are based on data from NACE’s First Destination Survey, Strada & Burning Glass Technologies’ Report: The Permanent Detour, unemployment and underemployment statistics from the NY Federal Reserve, and National Student Clearinghouse Research Center’s Monthly Update on Higher Ed Enrollment

The American
Dream in Action

When students are given access to information capital and networks as well as the opportunity to practice professional skills, the American Dream is attainable within semesters.

2018-2020 braven graduates

53%

already outearning their parents in their very first job out of college 4

By comparison, by age 30, Americans have a 50-50 shot of outearning their parents.5

most popular industries for braven fellows in quality roles

Technology
Non-profit
Health
Banking & Finance
Human Resources
Business
Engineering
Accounting
Computer Engineering

1 Braven Fellow college classes of 2018, 2019, and 2020 nationwide
2 The Fading American Dream: Trends in Absolute Income Mobility since 1940

HOW FELOWS ARE FARING

SPRING 2018 Fellow
Ulises Maldonado  Release Assurance Associate, Mastery Logistics Systems

Building Career Wealth & Health

A high quality first job helps individuals build long-term wealth and health. Braven defines a strong first job as one that requires a bachelor’s degree and is full-time, as well as includes some combination of promotion pathways, employee benefits, and a market-competitive starting salary. Based on responses to our annual Braven Fellow survey: 1

$55K-60K

mediaN salary range of most recent braven graduates 2
This is compared to a median starting salary for all graduates from public 4-year colleges of $49,725.3

1 We received a 43% survey response rate from our FY20 graduates.
2 This optional survey question around earnings saw lower response rates at around 20%.
3 NACE First Destination Survey Class of 2018

74%

of recent braven graduates
are in roles aligned with their long-term career interests

88%

of recent braven graduates
have a job with employer provided benefits

HOW FELLOWS ARE FARING

spring 2020 Fellow
Rishan Campbell  Senior Services Advocate/Member Advisor, Aetna
Fall 2020 Fellow
Gabriel Miranda  Area Manager, Amazon

Gabriel's
Journey

“Braven helped me learn what I needed to do to be on my path to a successful career and unlocked so many doors to me. Who would've thought a boy raised by two immigrant grandmothers from Korea and Mexico would be able to graduate from college and change the lives of his family.”

Leveraging social capital to
navigate the challenging  job market

January
Enrolls in Braven his senior year of college
Meets his Leadership Coach, Katie Keene from Adobe
Learns about contingency planning and the importance of applying to 200+ jobs in a recession
Starts his job search
May
Graduates from college
Enrolls in Braven’s Professional Mentor program and is coached by West Barnwell from Google for 15 weeks
Works with mentors Katie and West to find opportunities
Expands his network exponentially thanks to Katie and West opening up theirs
Applies to 200+ jobs during his 8-month search
October
Lands a quality role at Amazon through West’s LinkedIn post

Spring 2020

spring 2020 Fellow
Gabriel Miranda  Area Manager, Amazon

Gabriel's
Journey

“Braven helped me learn what I needed to do to be on my path to a successful career and unlocked so many doors to me. Who would've thought a boy raised by two immigrant grandmothers from Korea and Mexico would be able to graduate from college and change the lives of his family.”

The Importance of Multiple Paths to Quality Roles

How Braven 2020 Graduates Landed Compared
to College Graduates Nationally

Given the challenging labor market, Braven is teaching Fellows about contingency planning, including securing pathway jobs.

Braven defines pathway jobs as roles that do not require a bachelor’s degree but help students’ financial sustainability, are aligned with career interests, and will likely lead to more career-accelerating possibilities by providing the opportunity to build in-demand skills like collaboration and communication.

How Braven 2020 Graduates Landed Compared
to College Graduates Nationally

POPULAR PATHWAY JOBS FOR FELLOWS

paralegal
behavioral therapist
retail manageR & SUPERVISOR
IT & network technician

1 National estimates of recent college graduate employment are based on data from NACE’s First Destination Survey, Strada & Burning Glass Technologies’ Report: The Permanent Detour, unemployment and underemployment statistics from the NY Federal Reserve, and National Student Clearinghouse Research Center’s Monthly Update on Higher Ed Enrollment

02

a

Is Braven supporting Fellows to secure internships?

Nationally, internships
have been negatively
impacted by the pandemic

30%

students reported having
an internship offer rescinded 1

49%

DECREASE IN INTERNSHIP HIRING IN MAY 2020
COMPARED TO MAY 2019 2

1 COVID-19 Is Scrambling The Job Market For Recent Grads. Here’s How Colleges Are Trying to Respond.
2 US Internship Hiring Cut in Half Since COVID-19 Crisis

THE COVID-19 REALITY

“My internship was rescinded this summer.
But because Braven taught me to jump at every opportunity, I took advantage of a bootcamp with Training The Street that was offered to Fellows. I learned more about accounting, which will help me in my future career!”

Fall 2018 Fellow
Joshua Abrego-Bojorquez
Participant, Training The Street &
Incoming Business Transformation Consultant, IBM

Despite setbacks this spring, our Fellows’ internship attainment during their undergraduate experience remained strong

For college students, internships serve as critical proof points of experience and open professional doors.

Compared with peers nationally, our 2020 graduates were 7 percentage points more likely to have at least one internship during their college experience, which largely took place before COVID-19.

1 2019 NACE Student Survey

HOW FELLOWS ARE FARING

Fall 2020 Fellow
Yoel Concha  Fellow, Facebook

The pandemic’s
impact on summer plans for Fellows still in college

In line with national findings, Braven Fellows who were still in college had their summer 2020 internship and work plans upended. That said, we are encouraged to see more Fellows find creative ways to gain professional development. 1

Participated in A FELLOWSHIP OR OTHER professional development

3%

Paid Internships

6%

Worked over the summer

20%

1 Compared to Summer 2019 data collected in our annual survey

HOW FELLOWS ARE FARING

02

b

Is Braven supporting Fellows on
the path
to college completion?

College enrollment
is declining nationwide

2.6%

Overall decline in undergraduate
enrollment
for Fall 2020 1

Decline in undergraduate enrollment for first-time students at four-year public universities for Fall 2020 1

8.1%

8.4%

Percentage decrease in deposits submitted across 100 4-year institutions for families with incomes below $60,000 2

1 National Student Clearinghouse Research Center’s Fall 2020 Report from Current Term Enrollment Estimates Report Series
2 The latest crisis: Low-income students are dropping out of college this fall in alarming numbers

Across all races, undergraduate enrollment
at public four-year institutions has declined.1

THE COVID-19 REALITY

Top 3 reasons
students cancelled
their college plans 2

01

Uncertainty about online classes, especially for low-income students who struggle to find a place to study or consistent access to high-speed internet

02

Concerns about contracting COVID-19

03

Inability to pay for classes after a change in family financial circumstances

Encouraging levels
of persistence and graduation

Nationally, about only 6 in 10 of Braven Fellows’ peers graduate college on time.1 Fellows, who typically join us during their sophomore or junior year, are persisting and graduating at encouraging rates.

For the first time, we have a sample size large enough to share 6-year graduation data for Braven Fellows.2

1 Implied 6-year graduation rate for Black and Latinx students who persisted from freshman to sophomore year at four-year public institutions. Sources: U.S. Department of Education, National Center for Education Statistics, Digest of Education Statistics, Tables 326.10, 326.30, and 306.50
2 Six-year graduation data of Braven Fellows starting at San José State University and Rutgers University-Newark up to 2014, not including those who took Braven during their freshman or senior year of college  (n=209)

HOW FELLOWS ARE FARING

Fall 2019 Fellow
Sarah Nofal  HR Generalist and Recruiting Coordinator,
Volkswagen Group of America

We couldn’t do it without you

Supporters ($10K+)

A Better Chicago
Abrams Foundation
Amato Foundation
Anonymous (x4)
Arbor Brothers
Arrow Impact
Arthur Rock
Bill & Melinda Gates Foundation
Bill & Tammy Crown
Bloomberg Philanthropies
Booth Ferris Foundation
Carnegie Corporation of New York
Caroll & Milton Petrie Foundation
Carson Family Charitable Trust
Charles & Lynn Schusterman Family Foundation
Charles A. Lewis
Charles Hayden Foundation
Charter School Growth Fund
Chegg
Cleveland Avenue Foundation for Education

Crown Family Philanthropies
David & Lucile Packard Foundation
Erol Foundation
Finnegan Family Foundation
Franklin and Catherine Johnson Foundation
Grace Voorhis
Invest For Kids
John & Katrina Clifford
John & Wendy Cozzi
KIPP Foundation
Leslie Family Foundation
Margoes Foundation
Michael & Susan Dell Foundation
Mindy Rogers
New Jersey Children’s Foundation
New Profit
Osa Foundation
Paul M. Angell Foundation
Paula Sneed & Lawrence Bass
Peery Foundation

Prosper Road Foundation
Richard Braddock
Rick Witmer
Ruth Stanton Foundation
Sarah Peter
Shellye Archambeau
Silicon Valley Social Venture Fund (SV2)
Siragusa Family Foundation
Sobrato Family Foundation
Square One Foundation
Steven Alesio
Strada Foundation
Stupski Foundation
Susan & Thomas Dunn
The Heckscher Foundation for Children
The John P. & Anne Welch McNulty Foundation
The Mayer & Morris Kaplan Foundation
Trimble Family Foundation
Victoria Foundation
Westly Foundation

University & Employer Partners

UNIVERSITY PARTNERS
Lehman College - CUNY
National Louis University
Rutgers University - Newark
San José State University

ANCHOR PARTNERS

$100K+ & programmatic support
Adobe
Barclays
Deloitte
Google
LinkedIn
Prudential Financial
Salesforce

KEYSTONE PARTNERS
$25K+ & programmatic support
ADP
AEA Investors
BMO Harris
Charles Schwab
Cisco
CME Group
College Board
Gucci
Lazard Asset Management
Northern Trust
PwC
UBS

INNOVATION PARTNERS
$5K+ & programmatic support
Bank of the West
CIBC
FTI Consulting
Gerson Lehrman Group (GLG)
Hyatt
IBM
J.P. Morgan
Kirkland & Ellis
Loop Capital
PayPal
The Chad School Foundation
Training the Street
Uncommon Schools
WW

IMPACT PARTNERS
<$5K and/or programmatic support
Allstate
Audible
Blendid
Braintree
Cloudera
Compensia
eBay
Facebook
FactSet
Horizon Blue Cross Blue Shield of NJ
Intel
K Health
Katie Couric Media
Kindle Communications
Marqueta
Mars
McMaster Carr
Montefiore

NBCUniversal
NetApp
NJ LEEP
NJPAC
Outset Medical
Pacific Biosciences
Panasonic
QMA
Relativity
Resource Area for Teaching (RAFT)
Rush University Medical Center
RWJBarnabas Health
Sage Intacct
Schaffer & Combs
Siemens
Stanford Graduate School of Business
Teach For America
True Search
Tyson & Mendes