Canadian Students Make Compromises and Brace for a Tough Job Market on Graduation

Simplii Financial survey shows less than half of students are confident about landing a job

TORONTO, Sept. 23, 2025 /CNW/ - As students across Canada settle into a new academic year, many are facing a sobering reality, according to a new poll from Ipsos and Simplii Financial. Between mounting financial pressures and fierce competition for entry-level jobs, future grads are being forced to rethink their plans, finances and even their field of study.

The survey finds that less than half of Canadian students (48 per cent) feel confident about landing a job in today's market, and barely half (51 per cent) believe their education has adequately prepared them for the workforce. More than half (54 per cent) are already adjusting their career plans due to market conditions, and a similar portion (55 per cent) expect to be satisfied with their starting salary.

"In an already tough Canadian labour market, younger workers and new graduates are facing some of the biggest challenges finding employment," says Ali Jaffery, CIBC economist, speaking on behalf of Simplii. "Youth unemployment is close to 15 per cent, compared to the 10 to 11 per cent during more normal times, and young people are caught between cautious businesses pulling back on hiring and stiff competition for those fewer opportunities."

Securing summer employment proved difficult, with 53 per cent reporting they struggled to find a summer or part-time job this year and nearly two-thirds (66 per cent) saying it's become more difficult than in previous years. To complicate matters, financial safety nets are thin—only 44 per cent of students have an emergency fund that could cover several months of expenses.

The uncertainty may be a contributing factor for the nearly 60 per cent of students who say they're considering further education, or the 57 per cent who say living at home after graduation will be a necessity. A third (33 per cent) report wishing they had chosen a different field of study.

For those taking on student debt, expectations may not match reality. Most students with loans believe they'll pay them off within one to six years, meanwhile data from the Canadian Student Loan Program and OSAP shows the average repayment period is roughly 10 years.

As the school year ramps up, Simplii Financial has some tips to help students bolster their career and personal finance prospects before graduation including:

1. Get on-the-job experience: Internships and co-ops are some of the best ways to network and get a leg up on your peers. They're also a good way to earn a little money to pay for that last year of university.
2. Know your worth: Competition for jobs can be fierce, but it's still important to understand your earning potential. That means talking salary with peers, or leveraging salary postings online before signing on the dotted line.
3. Research student loan realities: Understanding interest rates and the total cost of borrowing can help you better project the impact a loan will have on your finances. Don't miss taking advantage of loan repayment estimators where available.

About the Study
The findings are from an Ipsos poll conducted between July 8 and July 21, 2025, on behalf of CIBC and Simplii Financial. For this survey, a sample of 500 Canadians aged 18-25 years old planning to be in full time or part time post-secondary schooling in September 2025 were interviewed online. Sample was sourced from the Ipsos panel. The precision of Ipsos online polls is measured using a credibility interval. In this case, the poll is accurate to within ±5.0 percentage points, 19 times out of 20, had all Canadians been polled. The credibility interval will be wider among subsets of the population.

About Simplii
Simplii Financial provides direct banking services to approximately 2 million Canadians with 24/7 access to online, mobile, and telephone banking with no monthly fees. Simplii clients can also access one of the largest national ATM networks through CIBC. For more information about Simplii Financial, please visit www.simplii.com or by following on X @SimpliiFin, Instagram @SimpliiFin, or on Facebook.

SOURCE Simplii Financial

For more information: Benjamin Wylie, 647-212-2836, [email protected]