Monday, May 25, 2009

Recession Creates Uncertainty for 2009 Grads

The headlines are bleak. "Graduating US college seniors entering grim market." "Graduates brace for worst job market in years." "Even Stanford grads Are Hurting in the Downturn."

Indeed, less than twenty percent of graduating seniors nationally who are looking for jobs have found one. Only 60 percent of seniors are even looking.

The recession has affected Princeton students too. It's unlikely that many Princeton seniors will be jobless and destitute next year, but many have changed their expectations and methods used to find jobs. In April, Princeton Alumni Weekly article reported that even though students have landed finance and consulting jobs, many are still uneasy about the future. A senior who got a job with McKinsey worried that her co-workers from a summer internship at Goldman Sachs did not receive offers. Andy Chen, Pyne Prize winner, stated that there's "a culture of anxiety."

Chen is pursuing graphic design. Though this field is only indirectly affected by the recession, Chen has changed his methods of looking for jobs. "This year, I was a lot bolder in the steps I took in terms of reaching out to personal contacts I had formed in my field," he wrote in an email. "While I don't like to think of this as "networking," it does involve some degree of tapping personal relationships for instrumental purposes."

It's unknown how the Class of 2009 has fared in the job hunt. When asked for statistics or comments on the results of the senior check-survey, Anthony Chiappetta, Associate Director of Career Services, wrote "At this time we are still in the process of gathering data concerning the Class of 2009 therefore, we are unable to provide statistics or comment on the future plans of the senior class."

In the mean time, watch this space over the next few weeks for stories on how the recession is affecting the way seniors and recent alums are looking for jobs, thinking about future plans, and exploring options.


Anonymous said...

This is sad.I do hope things return to normal soon.
Incidentally there is an interesting website that is specifically dedicated to recession victims.It offers help and discusses all issues related to recession- It’s worth a visit!