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‘03 Grads Must Look Harder for an Edge
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By
John Rossheim
11 March 2004
When bright-eyed students in the Class of 2003 entered college during the dotcom hysteria of 1999, they couldn’t have imagined the magnitude of events that would rock their world each year:
- 2000: AOL buys Time Warner, and the presidential candidate with the largest popular vote loses.
- 2001: Hijackers and an anthrax expert attack US industry and government.
- 2002: Accounting scandals bring down some of the world’s largest corporations.
- 2003: Employers plan to offer fewer jobs at lower pay to college graduates who are better qualified than their predecessors.
After these four calamitous years, that $40 rental fee for a cap and gown will be the first in a series of harsh realities. That’s why it’s important for college seniors to accelerate their preparations for the real world of work, starting now.
How 2002 Grads Have Fared
Even last year, finding a job was no gut course for newly minted college grads. Job offers to those straight out of college were down sharply from 2001.
Most starting salaries were also down in 2002. "Starting-salary trends have varied depending upon majors and disciplines," says Keith Fortier, director of compensation at Salary.com. "For those graduating with degrees not in demand, the starting salary range has dropped 2 to 4 percent. For individuals whose disciplines are in high demand, aggregate starting salaries have increased by 1 percent to 3 percent."
Forecast for May
The best thing about this year’s hiring environment is that it’s not projected to deteriorate as deeply as it did last year. Since employers plan to hire slightly fewer grads in 2003 than in 2002, this is no time for college seniors to put off their job search.
Opportunity Varies by Industry
Are there any bright spots in the gloom of postgraduation employment? Yes. Some occupations in insurance, healthcare, engineering, security and government work are relatively healthy. But even in these fields, candidates need to mount a one-person employment campaign.
Take Heidi Kuglin, a senior at Southern Methodist University (SMU) in Dallas. "I started looking back in August, when I went back to school," says Kuglin, a finance major. "For any company coming to campus that I was minimally qualified for, I sent my resume."
The numbers game, together with a quality marketing effort, worked for Kuglin. She submitted a couple of dozen resumes, yielding about 12 first-round interviews, six second interviews and two offers. Kuglin is scheduled to start this fall as a business analyst.
What got Kuglin the job? An early start, a polished resume and proven analytical skills, she believes.
Strategies to Optimize the Search
A number of other strategies can help grads get their careers off to a solid start, even in hard times.
"The Class of 2003 needs to be able to articulate and sell skills learned and developed, instead of focusing on their degree," says Mary Spencer, director of placement at the Milwaukee School of Engineering.
One way to demonstrate proven professional ability is through experience at low or no pay. "Students need volunteer experience, and with clubs and organizations," says Jeffrey Taylor, a resume consultant who’s also served as a manager of career services at two universities. "Just one internship doesn’t cut it anymore."
Quality networking also counts for a lot. "Students should connect with alums of their alma mater that may be in a position to help," says Dale Austin, director of career services at Hope College in Holland, Michigan.
Still Looking
Even for students who have won recognition for their superior performance, the job search is filled with uncertainty.
The American Advertising Federation named Tashonda Wesley, a senior at SMU, one of the 25 most promising minority students for 2003. This distinction earned Wesley a trip to New York City and meetings with a slew of top employers, from Young & Rubicam to Time Inc.
But she’s still waiting for a job offer. "The companies said, ‘We have your name, and when things open up, you’re in the first tier of people we’ll get in contact with,’" Wesley says.
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