🎓 What, like it's hard?

👋 Happy Thursday! Today is International Harry Potter Day. Leave it to the folks on Reddit to calculate how much a professor at Hogwarts earns annually (it’s about $75,000). Good to know for your next round of candidate salary negotiations.

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Today’s edition is a 6-minute read. Here’s what to expect👇

🗞️ Hiring managers sour on Ivies
😬 Gen Z’s take on “toxic” workplaces
🥑 Chipotle testing robot guacamole makers
💻 CVS, Snap hiring for TA roles
💼 Layoffs at Peloton, Google, Tesla

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This week, as soon-to-be high school grads across the nation weigh their admission decisions, reporting by Forbes suggests that some employers have been souring on graduates of the eight elite Ivy League universities—Harvard, Yale, Princeton, Brown, Penn, Columbia, Dartmouth, and Cornell.

1 in 3 are shrugging off an Ivy League degree.
Amidst protests and rallies at several dozen college campuses nationwide, we’ve seen a handful of business executives talk about how they are rethinking their company’s recruitment efforts from these legacy institutions. And even before this week’s headlines, a survey from Forbes showed that 33% of hiring managers said they are less inclined to hire Ivy League graduates compared to five years ago, with only 7% expressing an increased desire. It’s a stark shift from what recruiters have long heard about the value of an Ivy League degree, once seen as critical for securing internships and entry-level offers at big-name banking, consulting, and tech companies.

What has changed the tide?
Well, for decades, we’ve seen how grade inflation has gnawed away at the reputations of Ivy League schools (reporting from the NYT late last year highlighted that at Harvard and Yale, almost 80% of undergraduates maintain an average grade of A or A-minus). But more recently, COVID upheaved traditional recruitment practices, prompting employers to seek alternative talent acquisition methods like virtual platforms and remote hiring. At the same time, HR tech advancements and a newfound focus on DEI hiring have resulted in expanded online job boards and recruitment programming, broadening access to candidates beyond the traditional schools, backgrounds, and geographies.

Zooming in.
For example, at consulting giant PwC, talent acquisition and onboarding leader Rob Adams told Forbes the firm has narrowed in on efforts to diversify its talent pool, noting a significant increase in recruitment efforts at Historically Black Colleges and Universities, which he said has surged five-fold since 2017. Utilizing both on-campus and virtual events, alongside job boards, the company has broadened its recruitment scope to encompass around 700 universities and colleges each year. “We’re continually focused on expanding our net to reach people from a vast range of experiences and diverse backgrounds,’’ Adams told Forbes. PwC—a company with 364,000 employees—says it now attracts approximately 200,000 entry-level applicants annually.

Introducing … the “New Ivies.”
As the legacy schools lose their lust, Forbes, long-known for its higher education rankings, released a list of 20 colleges and universities it’s dubbing the “New Ivies.” Public universities like Binghamton University, the University of Florida, and the University of Virginia are listed alongside private institutions like Boston College, Vanderbilt University, and Georgetown University.

Regardless, job-seeking right now is tough, period.
New numbers from the U.S. Bureau of Labor Statistics report that job openings have fallen to their lowest levels since 2021. This puts an even bigger strain on entry-level job seekers, writes economist Peter Coy for the NYT: “Here is a brutal fact for the college class of 2024: There aren’t enough college-level jobs out there for all of you,” he said.

📥️ Read more from Forbes

NUMBERS

Numbers That’ll Make You Think

• 100,000 — The number of federal IT jobs that will transition from having college degree requirements to “skills-based hiring” over the next year, the Biden administration announced this week (Federal News Network)

• 192,000 — The number of jobs added by private employers in April, at a faster-than-expected pace, indicating there are still plenty of tailwinds for the U.S. labor market (CNBC)

• 38% — The percentage of Gen Z workers who said they have experienced bullying within the office (HR Brew)

• 30% — The percentage of Gen Z workers who say they would describe their company culture as “toxic” (HR Brew)

• 10% — The quarterly percentage increase in revenue at LinkedIn, which cited caution about a “weaker hiring environment in key verticals” (SIA)

INDUSTRY INSIGHTS

M&A Deals, Industry Moves, & Other Things To Know

• Fast food chain Chipotle says it will roll out avocado-cutting robots into its stores this year (Quartz)

• Professional staffing provider Robert Half reported its first-quarter revenue fell 13.4%, citing “candidate caution” impacting hiring activity (SIA)

• Recruiting software platform Hackajob announced the promotions of Vlad-George Iacob to CTO and Pete Bulley to COO, the company announced on Monday (LinkedIn)

• A viral video on TikTok, which has raked up 8 million views, is sparking conversation about a theory that “nice people” don't get promoted at work (NBC News)

• Employees at chipmaker giant Nvidia are calling their CEO Jensen Huang “a demanding perfectionist who’s not easy to work for,” a label that Huang says he welcomes (Fortune)

• In a new piece from the WSJ, the message “hey” is being dubbed as the “most dreaded word at work” (WSJ)

• Tech giant Google said there's a "lack of skilled" talent in AI, and called for changes to make it easier to hire from abroad (Insider)

HIRE INNOVATIONS

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OPEN ROLES

Jobs You Might Want (For Yourself!)

• Pharmacy giant CVS Health is hiring a Talent Acquisition Manager, based in Hartford, CT

• Tech company Snap Inc. is hiring a Senior University Recruiter, based in Los Angeles, CA

• Fintech platform SoFi is hiring a Senior Talent Development Partner, based in Cottonwood Heights, UT

• Luxury retailer Tiffany & Co. is hiring a Retail Recruiter, based in New York, NY

• Healthcare system NYC Health + Hospitals is hiring a Chief People Officer, based in New York, NY

• Professional networking company LinkedIn is hiring a Senior HR Business Partner, based in San Francisco, CA

For more of these roles delivered to your inbox every Monday, subscribe to the RecruitmentMarketing.com Weekly Jobs newsletter by clicking here.

LAYOFFS

Places For You To Source Fresh Talent

• Fitness company Peloton shares fell to a record low after it announced it would reduce its workforce by 15% and replace its CEO (Yahoo Finance)

• EV manufacturer Tesla, which last week laid off 14,000 employees, is conducting another round of cuts, including a number of high-ranking executives (The Information)

• Tech giant Google conducted another round of layoffs, reportedly impacting an undisclosed number of staff across teams like Flutter, Dart, Python, and more (TechCrunch)

• Quick commerce platform Getir, once valued at $12B, announced it would pull out of U.S. and European markets to focus on Turkey, impacting over 6,000 jobs (TechCrunch)

• Health tech startup Healthify laid off around 150 employees, or about 27% of its workforce, in a restructuring move earlier this week (Inc42)

• Defense startup True Anomaly laid off around 25% of its workforce and canceled its upcoming summer internship program (TechCrunch)

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