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?

Fall 2018 Fellow
Aliceya Jerome Marketing and Communications Intern, Braven

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

spring 2017 Fellow
Iné Collins  Student pursuing Master of Arts in School Counseling, New York University

“I once was timid and the skills I acquired at Braven instilled great confidence in me professionally.
I became comfortable taking the lead in the group projects and ultimately landed my dream job!”

fall 2018 Fellow
Alexia Young  Patient Navigator, The University Hospital

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.”

In 2020, 161 Braven Fellows graduated from Rutgers University-Newark. This new class is outpacing their peers nationally in strong job attainment by 25 percentage points (61% 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

HOW FELLOWS ARE FARING

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 NATIONALLY

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 RU-N fellows in quality roles

Business
Banking & Finance
Accounting
HealthCARE

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

HOW FELLOWS ARE FARING

FALL 2017 Fellow
Jennifer Dios  Analyst, Deloitte

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

fall 2018 Fellow
Joshua Abrego  Incoming Business Transformation Consultant, IBM
Fall 2017 Fellow
Johnathan Christie  Investment Operations Associate, Prudential

Johnathan’s
Journey

“Always nourish your connections and maintain your network. It’s what helped me land my job. I now have a job where I can make use of my degree.”

Leveraging social capital to
navigate the challenging  job market

Fall
Enrolls in Braven his sophomore year
at Rutgers University-Newark
Meets his Leadership Coach, David Arteaga-Caicedo, from Cargill
Spring
Enrolls in Braven’s Professional Mentor Program and is coached by Dan Schechner who then worked at AeroFarms for 15 weeks
Fall
Enrolls in Braven’s Professional Mentor program for the second time and is coached by Stephen Brundage from QMA (a Prudential company)
Spring
Starts his job search
Summer
Enrolls in the Professional Mentor Program for the third time and is coached by Eimear O'Connell who then worked at Audible
August
Graduates from college
November
Stephen shares job opportunity at his company and encourages him to apply; he also refers Johnathan when he submits his application
Lands a quality role at Prudential

2017

2018

2019

2020

Fall 2017 Fellow
Johnathan Christie  Investment Operations Associate, Prudential

Johnathan's
Journey

“Always nourish your connections and maintain your network. It’s what helped me land my job. I now have a job where I can make use of my degree.”

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
AMERICORPS VOLUNTEER
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!”

spring 2019 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 Rutgers University-Newark graduates were 15 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

spring 2018 Fellow
Christelle Louis  Project Manager Intern, Curology

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 2018 Fellow
Shanice Anthony  District Manager Trainee, ALDI USA

We couldn’t do it without you

Supporters ($10K+)

Arbor Brothers
Charles and Lynn Schusterman Family Foundation
John & Wendy Cozzi
Lisa and Joseph Amato
New Jersey Children’s Foundation
Sarah Peter
Steve Alesio
Strada Foundation
Susan and Tom Dunn
The MCJ Amelior Foundation
Victoria Foundation

Employer Partners

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

KEYSTONE
$25K+ & programmatic support
ADP
AEA Investors
Lazard Asset Management
The College Board
UBS

INNOVATION
$5K+ & programmatic support
JPMorgan
Kirkland & Ellis
The Chad School Foundation
Uncommon Schools

IMPACT
<$5K and/or programmatic support
Audible
Horizon Blue Cross Blue Shield of NJ
Mars
NBCUniversal
NJ LEEP
NJPAC
Panasonic
QMA
RWJBarnabas Health
Siemens