On a Wednesday morning in April, the Littlefield Fountain on the University of Texas at Austin’s campus was packed with graduates donning sashes and taking photos. Some raise glasses of champagne and bid farewell to the ivory tower, setting off towards the world.

Several of those soon-to-be graduates said they excited for the future, but somewhat apprehensive about the current state of the job market

The unemployment rate for college graduates age 20-24 was 5.4% in March, up from 2.3% December 2021 and indicating that graduates will encounter stiffer competition when seeking employment.

Zac Schulwolf, 23, is set to graduate with a master degree in computer science.

“I went to a tech industry party in San Francisco, and after a few rounds of drinks, someone asked how many of (the attendees) still had jobs. It was shocking to hear that even some of the new grads had already been laid off,” Schulwolf said.

Amid the uncertain job market, some UT students are choosing alternative paths such as pursuing graduate school, taking on gig work, or starting their own business instead of directly entering the workforce.

Christy Nguyen, 21, is graduating with a degree in biology. She intends to return to her hometown of Dallas to seek a medical position in a clinic and eventually apply to medical school.

"As a senior, I felt like a big fish in the sea," Nguyen said. "But when I started searching for jobs, I realized I had lost control over my fate. With so many experienced professionals in the world, we are all competing for the same positions. I can no longer consider myself a big fish."

Nguyen believes that for her first job, she needs to get her foot in the door and be willing to "lower the bar."

Krystal Won, 21, will graduate with a degree in journalism. Originally from South Korea, Won received a summer school offer from Columbia University's Lede program. After applying to nearly 40 jobs, she only received one interview. "Even though I’m in the best journalism school, I still feel like I'm in a passive position during the job search," Won said.

“I see many job seekers opting for internship and fellowship opportunities, rather than full time work, for multiple reasons.” said Avianne Ernest, the assistant director of Moody Career Center. “After surviving the pandemic, I think it's completely appropriate to wade in the water of students‘ career search.”

Even though some giant companies are experiencing notable layoffs, they can provide stable financial and clear career promotion path, which is still a priority choice for some senior students. "We're in an economic recession, and stability is important," said Aviadne Campos, 22, will graduate with a degree in marketing, who hopes to work for a big consumer company or consulting agency.

Campos sees the economic downturn after the pandemic as a test of companies' management abilities. "I look into how companies are managing their employees during pandemic," said Campos. "I will observe if the company has the ability to retain employees, who they prioritize, and what they deem as important."

Ernest has observed that many students, like Campos, are prioritizing job security and financial stability after the pandemic. “In Moody college of communication, the desire for freelance and contract work has decreased as they have seen family and friends experience furloughs and layoffs,” said Ernest.

However, some students believe that the only certain thing is uncertainty, and that working for a startup might better develop their ability to adapt to change.

Schulwolf plans to be a digital nomad this summer, remembers when he was a freshman and everyone wanted to work for Facebook. "But that started phasing out," he said.

"Working for a startup means being part of a small dynamic team where you could be doing cybersecurity, product development, user interviews, sales, and a bunch of different things," Schulwolf explained. "Everything is constantly changing. Being able to adapt quickly and learn fast can be super important."

Schulwolf started his own recruitment company called Forward Jobs during his senior year, and even though he later withdrew, the experience helped him discover his career aspirations. "If I work for a startup, I look for a founder I can really trust or who has already had a successful exit," he explained.

These students want to emphasize that not immediately entering the job market should not be viewed as laziness, and taking a step back can help them gain clarity on their career paths.

Despite the pressures and anxieties that come with graduation approaching in May, they are not panicking.

When Schulwolf shared with his friends his desire to build personal projects after college, he was met with skepticism. "They said, 'You can't even afford that' and 'Go throw it away!'" Despite this, he knew he couldn’t stop.

"I'm a career-oriented person. I need something I can put my heart and soul into, where I can drop everything else and go all in, you know?" He said, "That's kind of what I'm looking for in my young 20s."