We've all heard the news. Students who are graduating from college in the next year or two and heading straight out into the work force, are facing one of the most uncertain economies in the last decade. For students who don't get to hide in the safety of law school, med school, or grad school, the prospect of finding a job right after graduation is downright scary. So what are the experts predicting the economy will be like for these students, and what can they do to make the best of it? What are the best fields and careers to be in? Read on:
"With the changing marketplace, students may be more wary of companies who laid off workers or rescinded job offers of last year's grads. The job market may be tighter, but I think the students coming out [of college] in the next few years will be just as discriminatory. Other things they face that is different is job searching in the age of the Internet. As opposed to 10 years ago, searching and applying for jobs on the Internet is very common. However, this poses a problem because today's students tend to hide behind e-mail and the Internet rather than make face-to-face contact or picking up the phone. Students should place more emphasis on directly networking with carefully selected professionals and individuals. Today's job seeker needs to be motivated, focused, and willing to be a face, not pixels on a computer screen."
- Michelle Watson, Assistant Director of Career Services at Lehigh University
"This will be the first ever 'recession' that this graduating class has seen in five years, which is their lifetime in higher education. We are telling students in our career classes that the job market will be much softer in 2001-02. They all realize the possibility of not having a job upon graduation day.
"The strongest industries seem to be retailing, pharmaceuticals, accounting and all industries that have sales training programs. The bottom has dropped out of consulting, especially IT [Information Technology] Consulting which will have negative impacts upon business graduates, especially those in information systems. Yet, we still see some demand in that sector and still encourage students to beef up their computer technical skills."
- C. Randall Powell, Ph.D. , Assistant Dean and Director of Placement at the Indiana University Kelley School of Business
"This year will be tough. The students have been reading the papers and hearing the news, and they know that the job market has toughened considerably compared to last year. We will need to be prepared to be honest with them about what it is going to take to be successful in tougher times. I have been reading some optimistic reports saying that the second quarter of next year will see significant improvement from this year. Greenspan says we are not in a recession. It will improve. But if I knew when, I would be an investor instead of a Placement Director."
- Alan B. McNabb, Director of Arts and Sciences Placement Offices at Indiana University
"The only thing consistent about the economy is its inconsistency. A year ago the economy was booming with no slowdown in sight; six months ago it was a different story. Students cannot sit back and assume that multiple job offers will come their way and that the job they accept will last indefinitely. They must develop a 'marketing strategy' in which they thoroughly know the 'product' (themselves), the 'target market' (potential employers) and how to connect the two. And they must be flexible. Instead of fearing change, they must be willing to embrace it and view it as an opportunity.
"The economy truly dictates the perceptions of the students in regard to the job market. A year ago, students were approaching the job search with a very casual attitude. The dot coms were the rage, large sign-on bonuses and stock options were offered, and grads were receiving 6-7 job offers. Now I'm hearing from recent grads who start dates have been delayed and from those who have been laid off after working for a year or two!"
- Karen McAndrew, Director of Career Services at Harvey Mudd College
