The Article below was assigned to our spring 2025 intern, Dimitris Zilidis, and was written with the close supervision of our Team. Dimitris, who holds an MSc in Marketing from the Erasmus University of Rotterdam (Netherlands), has recently moved to Cyprus after gaining some vital experience working as a Market Research Analyst at a reputable firm in Greece, following the completion of his higher studies in 2024. Ultimately, the article has provided an opportunity for Dimitris to outline his views and thoughtful concerns regarding the ever-important issue of junior employment opportunities in modern job markets. Our Company has also gained insight from an informative and topical piece of writing, circulating around what the problem is and how this could be addressed and tackled to the core. It is certainly an enlightening piece and a quick, insightful read for everyone.
The Myth We Were Sold
For years, young people have been told that the key to success is simple: work hard, get good grades, earn a degree from a reputable university, and the job offers will follow. Many of us followed that advice to the letter to secure top grades and prestigious degrees. Yet, instead of the stable careers we were promised, we find ourselves facing unpaid internships, underemployment, and job markets that seem stacked against us, making it barely possible for us to get by. The expectations set for us were shaped by a different time and set of circumstances, that no longer reflect the realities of today’s rapidly changing workforce.
The Harsh Reality
The truth is stark: More graduates than ever are met with rejection emails, unproductive interviews, or low-paying jobs that barely cover the cost of living. Notably, according to Eurostat, the youth unemployment rate in the EU held steady at around 15% throughout 2024, meaning more than 3 million young people (under 25) were left jobless. Simply put, it’s clear that the path that once seemed so certain has become riddled with obstacles, leaving the next generation feeling lost, frustrated, and increasingly disillusioned. Meanwhile, the gap between what we were led to expect and the reality we now face has never been wider. This isn’t just bad luck or a temporary rough patch. It’s a shift — a structural change in the way the job market operates. And if we want to understand why, we need to take a closer look at some of the forces that led us here.
The Experience Paradox
One of the most frustrating hurdles emerging job seekers face is the experience paradox—the impossible requirement that even entry-level positions demand years of prior experience. Fresh graduates, eager to enter the workforce, find themselves in a Catch-22: they need a job to gain experience, but they need experience to get a job. In the past, companies were willing to train new employees, understanding that learning on the job was part of the process. Today, however, employers prioritize candidates who can hit the ground running, leaving recent graduates stuck in a cycle of rejection. As a result, many are forced into short-term contracts, or jobs unrelated to their degrees, delaying their careers and financial independence.
Six Degrees of Desperation
A university degree was once seen as a golden ticket to career success, but today, it holds far less weight than it used to. As higher education became more accessible, the number of graduates entering the job market skyrocketed, creating an oversupply of degree holders competing for a limited number of positions. More specifically, in Europe, the percentage of degree holders between the ages of 25-34 has risen from 23% in 2002 to over 43% in 2023 (Statista, 2024). In other words, what was once a distinguishing factor has now become the baseline requirement, with many employers raising their standards or requiring additional certifications for a candidate to stand out. At the same time, industries that once hired based on education alone now prioritize experience, connections, and specialized skills—things that a degree alone no longer guarantees. As tuition costs continue to soar, many graduates are left wondering: was it really worth the investment?
Debt Students Society
University degrees come at a steep price—and it is one that lingers long after graduation. Student debt has reached staggering levels, with the average graduate in many countries now facing tens of thousands of dollars in loans. This burden not only affects their financial stability but also impacts their ability to make life decisions like buying a home or saving for the future. The reality is that numerous graduates enter the workforce already in debt, often struggling to secure well-paying jobs that can help them pay it off. According to the Institute for Fiscal Studies, the average graduate in the UK is expected to take 30 years to fully repay their student loans, while in Germany, the Deutsches Studentenwerk reports that the cost-of-living forces more and more students to incur significant debt just to cover basic expenses.
No Pay No Gain
Nowadays, unpaid internships have become the norm for most graduates. For many, these positions offer valuable hands-on experience, opportunities to develop skills, and ways to build professional networks. However, they also contribute to growing frustrations and financial strains. A study by the European Youth Forum reveals that an unpaid internship costs the average person in Europe over €1,000 a month. These internships are a double-edged sword: on one hand, they act as stepping stones to full-time employment, but on the other, they often serve as a means for exploitative companies to take advantage of young labor without offering financial compensation or job security. What was once an opportunity to gain firsthand experience has now become almost essential for entering certain fields. Yet, the unpaid nature of these positions forces many students to choose between working for free or facing months of unemployment, making career experience a luxury only accessible to those who can afford to work without pay. This imbalance exacerbates the challenges faced by many recent graduates, hindering their ability to transition into meaningful, paid employment.
Living On a Prayer
As the cost of living continues to climb—whether it’s due to skyrocketing rent, inflation, or increasing prices for basic necessities—salaries for many young professionals have remained stagnant or even declined. Despite years of hard work and academic achievement, many graduates find themselves in jobs that do not even cover the rising costs of daily life. Rent in major cities has reached unaffordable levels, while wages fail to keep pace with these expenses. This disparity is especially pronounced for recent graduates who may be juggling student debt with living expenses. The promise that a degree would lead to financial independence has faded, and instead, many are left struggling to make ends meet in a world where the gap between earnings and living costs continues to widen.
Final Thoughts
From the above, two important questions naturally arise: If hard work and education were truly the golden ticket to success, why are so many young people struggling to succeed? And if these elements no longer guarantee stability, what steps can individuals take to create a better life for themselves, rather than just scraping by? These questions reflect a shifting reality for many in a world where traditional systems are no longer providing the stability they once promised.
It is time to focus on practical solutions:
- First and foremost, individuals need to realize and accept that adapting to the ever-changing landscape has become not only essential but also the norm. This shift highlights the need to explore alternative ways of entering the job market, such as pursuing different career paths, acquiring in-demand skills through online courses or certifications, or networking within thriving industries.
- Governments, too, have a vital role to play in providing better guidance and improving job market conditions for up-and-coming professionals and job seekers. This can be achieved by reforming and sponsoring internships, aligning education more closely with the evolving needs of the job market, and finding ways to alleviate the burden of student debt.
- Employers can also play a key part by considering talent and potential over years of experience for entry-level jobs, which can help break the cycle of exclusion. By doing so, they create opportunities for individuals who might not have had the chance to gain traditional work experience but possess the skills and drive to succeed. This shift in mindset can lead to a more diverse and dynamic workforce, where growth is based on capability, not just past job titles.
- Lastly, universities and training programs need to partner more closely with businesses to design curricula that better align with real-world job demands. These collaborations could include offering co-op programs, hands-on training, and industry-relevant certifications. This way, graduates are more equipped with the skills employers are actively seeking, reducing the gap between education and employment.
In conclusion, the world has changed, and so should our approach to success. Rather than simply asking if hard work still pays off, we should consider how we can adapt to new opportunities and work environments. By embracing new career paths, learning in-demand skills, and collaborating with others, we can help create a fairer, more equitable society. Until we tackle these deeper issues, however, many of us will continue to face barriers to living a stable and fulfilling life.
Bibliography
- European Youth Forum. (2023). Unpaid Internships: The Cost of Experience. Retrieved from https://www.youthforum.org/
- Deutsches Studentenwerk. (2024). Student Financing in Germany. Retrieved from https://www.studentenwerke.de/
- Institute for Fiscal Studies. (2022). Student loans in England explained and options for reform. Institute for Fiscal Studies. Retrieved from https://ifs.org.uk/articles/student-loans-england-explained-and-options-reform
- Institute for Fiscal Studies. (2022). Student loans reform is a leap into the unknown. Institute for Fiscal Studies. Retrieved from: https://ifs.org.uk/publications/student-loans-reform-leap-unknown
- (2024). Tertiary education attainment in the EU. Retrieved from: https://www.statista.com/statistics/1093466/eu-27-adults-with-tertiary-education-attainment/
- (2025). Youth unemployment in the EU: December 2024. European Commission. Retrieved from: https://ec.europa.eu/eurostat/web/products-euro-indicators/w/3-30012025-bp#:~:text=E%2Dmail-,Youth%20unemployment,14.9%25%20in%20the%20previous%20month.
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