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This study aims to investigate how new graduates in Nigeria can simultaneously pursue entrepreneurial and professional careers. Specifically, this study tested the contextual (socioeconomic status [SES]), person-based (an open personality) and cognitive-person (self-efficacy and outcome expectations) predictors of entrepreneurship, professionalism and leadership.

The study design is cross-sectional. Data were collected from 363 new graduates from Nigerian tertiary institutions. Hypotheses were generated from social cognitive career self-management (CSM) variables. Research instruments were also revalidated for the Nigerian context, and regression path analysis was used to analyze the data.

This study’s key findings showed that SES and an open personality are predictors of entrepreneurship, professionalism and leadership (EPL) self-efficacy and intentions, entrepreneurial and job outcome expectations. Second, EPL self-efficacy predicted both entrepreneurial and job outcome expectations and served as a mediating variable for SES and an open personality. Third, entrepreneurial outcome expectations related to EPL intentions, whereas job outcome expectations did not. These results suggest that SES and openness personality trait are crucial for developing a versatile career mindset.

This study demonstrated that individuals’ characteristics (i.e. cognitive and personality) and economic resources are crucial determinants of CSM. As this study is cross-sectional, future research could use a longitudinal approach to determine the cause-effect relationship.

To the best of the authors’ knowledge, this study is the first research to examine how new graduates can simultaneously explore entrepreneurial and professional careers in a developing country like Nigeria using the CSM theory.