Podcast Summary: What We Spend – "New Grad, Now What?"

Host: Courtney Harrell (on behalf of Audacy)
Guest: Jacob, recent computer science graduate
Release Date: August 20, 2025

Episode Overview

This episode follows Jacob, a 21-year-old recent graduate from the University of Wisconsin–Madison, as he navigates the challenging landscape for new grads entering the workforce in 2025. Over the course of a week, Jacob shares his spending, his efforts to find a job, his reflections on trade vs. degree work, and his anxieties about becoming financially independent. The episode offers an honest, detailed portrait of post-college uncertainty, privilege, and the evolving value of higher education.

Key Discussion Points & Insights

The Harsh Job Market for New Grads

• Application Realities

  • Jacob anticipates applying to "hundreds" of jobs due to the highly competitive market. He references viral social media content about the daunting odds new grads face.
    • "I wouldn't be surprised if I applied to hundreds of jobs...300 applications, like six interviews, one internship. Baby, let's go." (01:22)
  • He discusses the shift toward networking and referrals over cold applications.

• The Declining Value of a College Degree

  • Despite attending a top program and having strong grades, Jacob finds that CS degrees are no longer a guarantee for a job or even an interview.
    • "You paid a lot for a piece of paper that is less and less of a guarantee or a step up for a job." (19:21)
  • Rising numbers of graduates and falling numbers of available roles (software postings down by 50% since 2022) have changed the landscape dramatically. (22:01)

Financial & Family Support

• Parental Support and Privilege

  • Jacob's parents are both public school teachers, earning over $200,000 combined and contributing to a 529 plan. They prioritized his education, reflecting familial and cultural values around schooling.
  • He’s acutely aware of the support he’s received and its impact on his financial flexibility.
    • "Some of that lifestyle is a lie where, you know, my parents are covering things that I don't even realize..." (09:37)

• Current Budget & Expenses

  • Rent: $535/month (shared house, 5 bed/1 bath); Utilities/WiFi: ~$100/mo (split via Venmo with roommates)
  • Food: About $450/month (mix of groceries, eating out, dining hall meals)
  • No transportation cost—walks, bikes, and occasionally borrows cars (pays for gas as a favor)
  • Hobbies require minimal spending—mainly on eating out or the occasional video game.

• Jobs and Income

  • Maintenance job: $550/week (main income source)
  • Web dev internship (variable hours, less reliable income)
  • Occasional extra pocket money from parents (usually not needed given his low expenses)

Trade Work vs. Degree Work

• Jacob's Maintenance Job
  • He enjoys the practicality and camaraderie of maintenance work, appreciates the down-to-earth attitude of coworkers, and finds satisfaction in problem-solving physical tasks.
    • "The only thing that earns disrespect in this line of work is a lack of effort...it meant a lot to me that my effort and work ethic and general attitude towards the job was really all that mattered to him." (25:02)
  • He is invited to apply for a full-time position in maintenance by a supervisor, which surprises and flatters him.
  • He weighs the risks of manual labor (physical wear and tear, injury) versus white-collar job security.

The College Decision & Its Tradeoffs

• Influenced by a high-achieving, academically focused upbringing and his mom’s immigrant family values, Jacob chose Wisconsin–Madison as a balance of cost, quality, and proximity to home.
• He admits he would have chosen a different major if college had been free.
  • "If college was free, I would probably change my major. But it's not. And I'd already taken like seven or eight computer science classes…it's more that I was like, I'm not super excited about computer science." (12:41)
• Views on college have shifted over generations; lingering debt and opportunity cost replace earlier narratives of exploration and self-discovery.

Psychological Transition to Independence

• Jacob is both grateful for his current position and acutely aware that it’s temporary and somewhat artificial due to parental support.
  • "It's nice knowing that right now, I can be happy living this lifestyle, but it is unfortunate knowing that some of that lifestyle is a lie..." (09:37)
• He feels pressure to secure a "real" CS job to avoid raising questions about his resume gap and future employability.

Attitude Toward Work & Fulfillment

• For Jacob, (and many peers) work is first and foremost about income; fulfillment is considered "a cool bonus" but not expected.
  • "Work is for money. But it would be a cool bonus if work was fun and I liked it too. But first it's money." (14:07)
• He’s coming to terms with the idea that fulfillment may require balance outside of work.

Memorable Quotes & Notable Moments

• On Job Applications:

  • "I didn't realize that I would constantly have this feeling of there's no point in applying because I just don't feel like they'll give me the job." (20:49)

• On Graduating Early:

  • "It's kind of a bummer, but at some point I said it's time to graduate and if I get a job in Madison and can still spend time with my friends, that's a lot better than paying a lot of money to spend time with my friends." (02:25)

• On the College Degree's Value:

  • "It's frustrating because I have a degree and I worked during the semester and I have an internship and it's like I got decent grades and it's like, you know what, what else should really be expected of me?" (22:30)

• On Maintenance Work:

  • "Even though I respect it and even though I like this work and I in the end could see myself doing this work and working with people like this for a long time. There's a real risk to a job where if I break my arm, I can't work anymore." (28:33)

• On the Social Side of Things:

  • Jacob celebrates his 21st birthday with friends and family; his parents treat everyone, reinforcing the supportive role they play as he transitions to independence. (31:55)

• On Long-Term Priorities:

  • "I want to have kids. And I want—would love to invest in my children's future and their education the way my parents have for me." (35:50)

Week in Spending – By the Day

(Totals only count spending, exclude non-content/producer notes)

• Day 1 (15:57): $73.30
  Lunch at dining hall, coffee, groceries
• Day 2 (18:01): $7.80
  Dining hall lunch, groceries for other meals
• Day 3 (not itemized): Likely minimal; focus was on job search, no specific spending mentioned
• Day 4 (24:27): $71
  Father’s Day gift ($40), coffee ($6), gas ($25)
• Day 5 (32:32): $20
  Drinks at a bar for 21st birthday (rest paid by his parents)
• Day 6 (33:08): $0
  Parents paid for meals; no discretionary spending
• Day 7 (33:26): $0
  No spending reported

Total for the Week: $187.70 (37:21)

Final Reflections, Goals & Stress

• Jacob is wary of the coming transition (“if I don’t find a job, I’ll move back home, and it’ll probably be depressing and lonely…” (33:26))

• He is confident in his work ethic and general adaptability, but unsure exactly what career the near future holds.

  • "I really do think I'll be able to carve out a happy life for myself. It'll just be a pain in the ass along the way. And that's how life is." (33:54)

• He isn't overly focused on salary, but a CS starting salary ($50-70k/year) would "sound amazing" compared to current income.

• Looking ahead, he wants to pass on the financial support and stability given to him, recognizing its pivotal role in his life.

Timestamps for Key Segments

• Jacob’s College & Family Background – 02:01–05:20
• Current Earnings and Expenses Breakdown – 06:05–08:44
• Psychological Impact and Job Search Stress – 09:08–10:27; 19:21–24:27
• Reflections on Higher Ed & Degree Choice – 11:07–14:30
• Daily Spending Diaries
  • Day 1: 15:57–17:11
  • Day 2: 17:18–18:01
  • Day 3: 18:15–20:40
  • Day 4: 24:27–29:10
  • Day 5: 31:55–32:40
  • Day 6: 32:40–33:08
  • Day 7: 33:08–33:26
• Trade Work Reflections – 25:02–29:10

Tone & Takeaways

The episode is thoughtful, honest, and occasionally wry—embodying the uncertainty and measured hopefulness of a young adult trying to find stability and meaning. Jacob’s story will resonate with listeners who feel the pressures of today’s job market, question the cost of higher education, and appreciate the nuances of making ends meet while seeking direction right after graduation.