Much-Needed Tips for those Graduating

We’re soon approaching that time of year when school will come to a close and for those students who are in their final graduating class, it marks a time for relief and celebration. Relief comes from the years of hard work and studying finally to be paid off. Celebration is to commemorate an important phase in life when students will advance to the next stage of the game which involves laying down the foundation for a career in their chosen field of study. This change is exciting and memorable in any graduate’s life. But this year that change begs to be different.
These are not the most favorable of times for graduates to begin their journey. Our world is in a financial crisis. Our economy is in poor health. We are in a global recession. World leaders are frantically trying to revive the heartbeat of the markets by placing stimulus plans in effect. If they are not successful then a depression is threatening. As with most financial predicaments, job losses is the most feared of all recession consequences because as unemployment rises there is less scope for new employment. This is the grim state of affairs students will be approaching this year.
“I’m not sure what to do,” said Maxim Caron, a graduating engineering student at Concordia University. “My debt is at least $30,000 and I was expecting to get a job right away and start paying it down. From what I’ve heard there is limited funding in R&D. I’m not sure they will hire me. The longer I wait the more the interest collects on my loan.”
According to the Labour Force Survey, employment fell for a fourth consecutive month in February, bringing the unemployment rate up to 7.7 per cent. This means that those who are going so be looking for jobs will be up against a market that has limited vacancies, not to mention that they will also be competing with experienced workers who were laid off and are now in the job market as well.
As much as this portrays a picture of gloom, there are concepts and strategies to consider that will help you navigate through this economic storm successfully. Firstly, try not to play into all the media hype. Sure there are a lot of depressing statistics and scenarios posted, but don’t let the negative energy get to you. Keep current with the news and be aware of the information, but remember that the power of a good plan of action that encompasses diverse networking is the backbone to an effective job hunting strategy.
You must consider if the industry you are in is recession-proof or a victim to the fallen markets. Industries that have generally stood the test of time include health, education, energy, utilities, public safety, sales, military, and of course the government.
Adam Pitacciato-Kerr studied economics at Concordia University and has furthered his studies at Université Laval in Quebec City and will be graduating this year. “I’d say the recession is hitting me, but not that badly, because I’m able to collect unemployment insurance (UI),” he said. “I saw the problems coming and decided it was best to collect my UI benefits while finishing my last semester. The jobs I’m applying for are in public service, so the recession has less of an impact. If anything, there is more work due to the increase in government spending.”
Engineering, automotive, construction, financial activities, recreation, manufacturing and the service sectors all seem to be the popular industry-victims hit during a market crunch. If your industry of choice is one of these you might have to start at the bottom of the ladder or in a different industry all together just to make ends meet till things clear up.
Another strategy is to stay in school. This could be a good time to further your knowledge and skills. Although it is too late to apply for graduate programs for the fall, one can still enrol in continuing education courses to supplement your existing degree. Or you could take a course in a completely different subject and broaden your horizons.
Remember to seek guidance from parents, faculty, counsellors and friends. Everyone has their own insights and opinions and there are those who have been in your shoes before. Career Service Centers are also a great resource as they are well equipped with adept training to guide you in these situations.
Seek advice from those who are in the financial industry. They are working within the eye of the storm and have been through many recessions and have their own solutions. “I would tell students that you won’t see the market consistently improving till at least June 2010,” said Ashley D’Silva, who has worked with the Tier 1 banks in Ontario. “We have some momentum going up, but we’re still down on the bottom side. There is still more bad news to come out this year and a lot of this year will be spent cleaning up the bad assets on the books. I would advise students coming out of school to enlist in entry level jobs, as supply is high with experienced people whose resumes are in the same inbox. Be patient as pride will cost you the money you need.”
By maintaining a positive outlook, seeking good information and being creative it will be easier for graduating students to utilize the aforementioned concepts and strategies to aid in finding the work they need. Remember that the convocation is a special ceremony and try to not let the current market conditions interfere with it. After all the hard work one deserves the celebration. So for that one night forget everything and enjoy the liberation. And then the next day grab that cup of java and get set to open up the pages again. This time it will be to apply all the skills and expertise learned at school to your first real-life scenario.