Micheala Brewer, recent graduate from the University of North Carolina, discusses if rental prices are impacting her future career decisions and talks about an employer's role in offering salaries. 

Opening Bell

College Graduates Battle With Rising Rents and Fair Compensation 

here to discuss more is Mikaela brewer, a recent graduate from the University of north Carolina, Thank you so much for joining us. Congratulations. Tell us more about your career goals and how location is impacting your opportunities in your field. Hi, thank you for having me. Um it's been a journey I think when you graduate from college you think you're going to have this big, you know, pit house bedroom and move up and on, you know, to bigger and better things. I know for me I wanted to go to graduate school and get my PhD in counseling psychology, but things have definitely slow down and taking a change due to the pandemic and definitely the price of rent. I definitely remember that you talked about having a penthouse. I thought I was going to be in the club with my friends every weekend just making everything and everywhere. Um but that is clearly not the case with the inflation that we're seeing in these rent prices. Um they're increasing across the country. How is it impacting your decision around where you're looking about potentially living? Um, I think for me personally, I was living in charlotte north Carolina um right after college and I was working as a preschool teacher and then once I realized the cost of living and being a preschool teacher, it was just not adding up. So I actually decided to move back home recently. I've been here for maybe about eight months um just to save money and hopefully be able to get a lump sum up sum of money and move to a different state. Um I was looking at new york city, but the cost of it for a one bedroom in new york city, I was just like that's never gonna happen. So I decided to change courses and I got a job here and I actually make $6 more um than I did as a preschool teacher and I'm actually saving so much more money living rent free at home. And what are you hearing from other colleagues classmates in similar situations right now? Um People are having to get roommates, you know um Being in your mid twenties and living with a roommate. It may not be ideal, but it's just something you have to do. Um So I know for some of my friends they partnered up and they have multiple roommates and then also they've gotten notices that written is going up as of august, so I know a lot of them are deciding to move cities from these bigger cities to smaller cities and some people are actually moving back home like I did. It's also interesting, we just had an interview with an expert who was talking about employers having to increase the rates for their new hires. Some people straight out of college can now access a salary of something more in the six figures, which up until now has been kind of unheard of. But because of this competitive market it's something employers are having to contend with. Do you think that employers in different companies should be considering the rental market and also the debt load of graduates when offering their salaries, even if they're already increasing them. I think so just because, um, for jobs it goes beyond just a job title in a position, this is people's lives, their, their livelihood. It comes from employers like we put our trust to bring all of our talents and all of ourselves to these companies. I think that it's important to take um, in consideration that people are having way more that they're bringing to you their, their lives, there's student loan debt that we're in. Um, there's gas prices are increasing. I feel like everything is increasing. So I think that just being able to give a little bit of wiggle room and a little bit more benefits as it comes to someone who, they have a different situation nowadays. Um, it would be a good understanding and a good thing that employers should think about incorporating. Yeah. And Michaela, especially as we head to midterm elections, one of the biggest focused issues right now is student loans. What is your take on student loan debt in the country? And how do you think voters are going to go specifically those who are the younger demographics recent graduates? I think that all of us are hoping that it gets canceled of course. Um, hearing that, you know, student loans have been delayed or you know, the payments have been delayed as something that gives us a little bit more hope. Um, I think coming up, hearing people who are working towards making sure that's a priority in this next um election is something that the younger generation we want to hear. And that's, I think that will be more um, leaning towards that aspect of um these campaigns and just hearing what, how people preparing to go forward. I think during a pandemic that took a toll in people's lives, but to also have um, a lump sum of debt, it's something that we need help as americans. So we just want a little bit of help with that. I know for me, I think that it should be canceled. Of course. I think everybody in the whole world would want their student loans to be canceled, but a delay has been good. But cancelation would be amazing. Michaela brewer, a recent graduate from the University of north Carolina, Thank you so much for joining us.