Today's Wall Street Journal noted that "As the credit crunch roils financial markets and the U.S. economy sputters, new college graduates are plunging into the rockiest job market in recent years."
The article reminds me of my job hunt after graduation; for months I sent dozens of resumes to every PR firm in Chicago only to be told, "We're not hiring right now, but we'll keep your resume on file."
It was incredibly frustrating. I worked harder than most of my college friends to graduate in four years, magna cum laude, with a major and two minors. I had work experience in my field (an internship) and I had served in a supervisory role in my on-campus job. Yet in the Chicago market, I couldn't even get an internship. I vividly remember stressing about it in a campus advisor's office. "Just wait," she told me. "Don't settle for anything. Something perfect will come along." Yeah, right.
On a whim, I interviewed with Accenture consulting. I heard it was good learning experience; if you could get through their rigorous interview process, you could get through any interview (and I wasn't having luck booking interviews). One psychological profile, an on-campus interview and an overnight orientation program later, I was offered a job - a high-paying job, with health benefits and a fantastic vacation package. Despite the fact that it wasn't what I wanted to do, I accepted.
A short time later, a PR firm called. They invited me to Chicago for an interview, and then offered me the internship a few days later. There was no hiring guarantee. The pay was $10 per hour and I received no health or insurance benefits. I took the job and called Accenture the next day.
At the PR firm, I spent a year as an intern, and though I loved every minute of it, my friends and family initially questioned my decision to turn down the consulting job. It wasn't easy: During my internship I lived at my parents' house in Chicago, with my brothers who were still in high school, the family dog and both my parents (and their rules). I was always broke. My best friends were all still in college, enjoying house parties and late night study sessions. In the meantime, many of those I graduated with returned to school, fed up with the business climate and the job market. I stayed at my company throughout the uncertainty, with my resume ready should I need it, but always hoping, praying, that my time would come.
And eventually it did. I was hired 12 mos. after my first day as an intern. It was an unusually long wait compared to the time recent interns have spent before signing on. But here we are again, in a tough job market for recent college graduates. Many will be wondering whether to take the high-paying job they don't particularly want, while others will still be interviewing several months after graduation just to find something, anything, to pay the bills.
My advice for recent graduates is to follow your passion, despite the difficulties. The market may be tough, sacrifices will be necessary and your experiences will be 100 percent different from your friends who graduated during the past few years that were able to negotiate for their salary and benefits (IGNORE THEM!). You may work in telemarketing for a few months or sign on with a temp firm until you can find something more fulfilling (it's not that bad, I've worked for both). But you can't ever give up your search. If you know what you want and you feel strongly about your career, you owe it to yourself to go for it.
If you're in the job market, and you're following the news, you know it's bad out there. But there are some signs urging grads to stick with it, like this quote thought from Sarah Quarterman, head of campus recruiting for Merrill Lynch. She says:
"Everyone learned the lesson that [hiring freezes weren't] the smart thing to do because students that get hired from campus are a pipeline for the organization," she says. "What a lot of firms experienced in 2005 and 2006 was a shortage of talent at the VP level," typically five or six years out of school.
The same thing happened in my industry (public relations). Because so many dropped out of their never-ending internships in 2001-2002, we experienced a strong demand for supervisors with five years of experience around 2006. Those of us who stayed in the industry through the recession were able to capitalize on that shortage because we stuck with it. Those who opted to go back to school or pursue different careers couldn't take advantage, nor could they get back into the field after a five year departure.
To be sure, not everyone will have the luxury to pursue their dreams during the economic downturn. But if you've worked hard to graduate this summer, don't be discouraged automatically by the articles you read, and throw the towel in just because you can't get an interview. Persevere. Overcome the obstacles. It may be a little less comfortable in the short-term, but you'll be glad you did in the long run.
P.S. Don't listen to just me, cause I'm no expert. Though I like to dispense advice (just ask my friends), you can probably only consider this blog to be entertainment. Talk to your friends and family, and listen to your gut before making any big decisions. Weigh all your options and decide what's best for you. Only you can choose your path in life! Thanks and sorry for the unpleasantness in the fine print.
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