School has only just started, but high school juniors are already planning college visits and seniors are winnowing their lists. To narrow the field, they’ll consider important factors like class size, research opportunities, and the relative quality of the dining hall food. They’ll think about what’s in the surrounding town, too – maybe not in the way they should.
Big city schools might be in proximity to all-night Thai food, but schools in small cities can give students a huge advantage in preparing for a career. Small cities tend to have lower unemployment rates relative to major metropolitan areas. (The top 15 small cities in the American Institute for Economic Research’s 2010-11 College Destinations Index had an average unemployment rate of 7.5% in 2009, while those in major metro areas had an average rate of 8.8%.) What’s more, many of the so-called small metros have become tightly concentrated hubs of industry, with the companies in the surrounding area often leaning heavily on the university for talent and labor. Smaller towns don’t offer the same opportunities, and in bigger cities, it’s easy to get lost in the shuffle.
SmartMoney looked at the top five small metropolitan areas for college students, as ranked by the AIER’s index. Some of them have above-average unemployment rates but offer other professional advantages. Of course, not every college-bound student knows what he or she wants to do after graduation – and plenty who do know will change their minds. But the industries and businesses clustered in these small cities offer plenty of networking and internship opportunities, as well as part-time and summer jobs. And if there’s one thing almost every college student needs, it’s a little more income.
Boulder, Colo.
Unemployment rate: 6.4% as of July 2010
Average salary: ,058
Tech, biotech and environmental companies turn to the University of Colorado at Boulder for interns and new employees on an annual basis, says Lisa Severy, director of the university’s career services. Boulder County (population 303,000) is one of the five biggest tech centers in the country; it’s home to Sun Microsystems, Seagate Technologies, and one of IBM’s (IBM) regional centers. In October, the university will host a career fair where prospective employers will include Microsoft (MSFT), Level 3 (LVLT), Qualcomm (QCOM) and Abound Solar.
Ann Arbor, Mich.
Unemployment rate: 10.0%
Average salary: ,107
Ann Arbor is a true college town. The University of Michigan dominates the economy, employing around 39,000 people in a county with a total employment of 190,000, says a university spokesman. That could be a big draw for students interested in post-baccalaureate research jobs. In 2009, the university purchased a former Pfizer (PFE) pharmaceutical research facility next to its campus, which it expects will create up to 3,000 new jobs within the decade, including positions for scientists and research teams.
