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Jobs? What Jobs?
See how quickly the market can change? Just a few weeks ago we reported that the job outlook for college graduates was still looking pretty good. Now, with news about the economy sounding worse every day, it appears as though your job prospects in May aren’t looking so great.
Employers are starting to rethink their plans for hiring graduates right out of college, and students in the financial sector may be most at risk. Anyone who had an offer from Bear Sterns can pretty much forget about it, since the company is expected to issue a massive round of layoffs. Citigroup and Merrill Lynch will likely follow the market and cut the number of students they plan on hiring.
This doesn’t mean you’ll be living at home for the rest of your life, it just means you might have to adjust your career plan. If you were planning to go into banking or real estate, you might want to look at other industries that can utilize your skills. Hospitals will always need accountants, and technology industries will always need people to find offices and property for their employees. And maybe you should hold off on the job search since the market is so bad—why not do some volunteer work with Americorps or Habitat for Humanity in New Orleans?
Whatever you do, don't rush into a decision. Andy Masters, author of Life After College: What to Expect and How to Succeed in Your Career believes that college graduates should be patient about finding the right job. "Students shouldn't come out of college and get just any job," he says. Instead, you should be working out your career plan and figuring out ways to pursue it.
Consider this your first lesson in the real world after college—be patient. [The Wall Street Journal]