February 8, 2021 by Emsi Burning Glass
Half of young workers are able to parlay their first job, one that typically requires less than a bachelor’s degree and less than two years of experience, into better-paying jobs within five years, according to a new report from Burning Glass Technologies, with support of the Schultz Family Foundation and in partnership with the 100,000 Opportunities Initiative (now called the Hire Opportunity Coalition).
Entry-Level Work as a Stepping Stone, Not an End Point, examines the work histories of young people aged 16 to 24 not in school, without college degrees, and lacking work experience. Just over half (52%) of entry-level workers with no bachelor’s degree and less than two years’ experience reached better paying jobs in five years, while 48% of these workers remained in a cycle of entry-level jobs.
Burning Glass used its dataset of tens of thousands of resumes and work histories to gather insights about what happened to young people five years after starting an entry-level position. The companies studied included the 100,000 Opportunities Initiative corporate members at the time of study and were compared to peer companies – defined as the 50 largest retailers not already part of the coalition, according to retail sales data.
Key findings from the report include: