JOB OUTLOOK DIM FOR NEW GRADUATES IN 2010

JOB OUTLOOK DIM FOR NEW GRADUATES
January 18, 2010 08:29 by justinb -- sms job text messages tweet job search
Since the current recession began there have been a flurry of back to school sales pitches but the reality is that the job outlook is dim for new graduates. As companies large and small grapple with staying afloat during this season of tight purse strings, that means hiring new graduates is more of a luxury versus a necessity. As such mid size companies are expected to hire 11% less new graduates with bachelors degrees, while large corporations are expected to hire 4% less new graduates with bachelors degrees. So what this essentially means is that promise of opportunity via education is more of an opportunity for school systems to generate revenue via selling degrees than it is for students that obtain degrees these days. In short, a college degree is essentially more or less a hope ticket synonymous to purchasing a lottery ticket. You know, you put a buck in and hope you win. Except with a degree you put a whole bunch of bucks in and hope you can get a job. I would hate to have the job of explaining to hard working graduates that have done everything right and can't find a job with exception of flipping burgers and ringing up orders as cashier somewhere. Those jobs are readily obtained without a college degree so why shell out the bucks?
On the brighter side for college graduates, if you are on a PHD or MBA track things are looking good for you. New PHD graduates can expect a hiring increase near the tune of 20%, while MBA graduates can expect a hiring increase around 11%. If you are on a masters degree track other than in Business Administration the jury is still out on your job prospects. So why the spike in interest with PHD and MBA graduates? Generally speaking these type of economic times call for more focus on theory and/or research and development, which lends nicely to PHD tracks. The knowledge acquired via R&D is then transferred over to corporations to derive creative business strategies to develop and market new products and services which of course lends nicely to MBA graduates. So a college degree can certainly be beneficial if you are on a PHD or MBA track especially if you attend a tier one college or university. Then again, since scholarships are always limited you will have to weight the benefits to cost. In the end the job outlook for new graduates is somewhat dim especially for bachelors degree new graduates but for advanced degrees such as a PHD or MBA things are looking a lot better. Just be sure to pick the right college or university to maximize your opportunities.