Despite Recession, Drexel Students Land 2,000 Co-op Jobs

PHILADELPHIA, Sept. 9 /PRNewswire-USNewswire/ -- The 9.6 percent unemployment rate for August may leave many college students feeling uneasy about their future. But Drexel University students are jumpstarting their careers through cooperative education. More than 2,000 Drexel students will begin six-month full-time co-op jobs this fall.

Co-op, short for cooperative education, lets students "learn by doing" as they alternate periods of classroom study with professional-level employment. Jobs are aligned to academic interests and students are paid; their average weekly salary is $620. What's behind Drexel's success in the recession?

"In fall 2008, Drexel brought in a labor market economist who provided insight into the market changes, which enabled us to anticipate industries that would lose co-op jobs," said Peter Franks, Senior Associate Vice Provost for Career Education.  "We were then able to seek out alternative positions in advance, and as a result Drexel students saw a five percent increase in the total number of co-op opportunities."

The University leverages relationships with more than 3,000 employing organizations to place more than 4,500 students in co-op jobs annually. Last year Drexel co-op students worked in 35 countries.

Drexel's co-op job growth comes as co-op hiring remains depressed nationally. The National Association of Colleges and Employers projects companies will hire 2.8 percent fewer co-op students this year than in 2009. Franks attributes Drexel's success in bucking this trend to his hard-working full-time staff of 50 in Drexel's Steinbright Career Development Center, which administers the co-op program and provides career services to graduating seniors and alumni. "We've been very successful at finding quality opportunities for students despite the recession," Franks said.

Businesses have recognized the benefits of the program and many offer former co-op students full-time positions after graduation. Across the nation, the class of 2009 saw the worst job market in 60 years. According to an SCDC survey, more than 50 percent of responding Drexel graduating seniors were offered a position with a former co-op employer and 41 percent of those who received job offers accepted a position with a former co-op employer.

"Drexel students graduate from five-year bachelor's programs with 18 months of professional work experience, a solid professional network and about 30 to 40 job interviews under their belt," Franks said. "When they enter the workplace, they are prepared to be productive immediately."

SOURCE Drexel University