How to act smart during the recession
As the world’s economy is at the verge of recession, it is getting harder for the grads to get a job. In this article, the difficulty is shown by a MBA new grad named Casey Quinn. There was time when the B-schoolers had the luxury of choosing from among a half-dozen internships or job offers. As the Class of 2008 prepares to graduate, an uncertain business climate is forcing students to make difficult choices that could have long-term economic consequences. A research on both MBAs and undergrads suggests that graduating into an economic downturn will substantially reduce lifetime earnings.
Quinn, 25-year-old MBA student, who applied for the Morgan Stanley for an internship got refused due to the bad economy. So Quinn went to an alternative plan. He shelved his dreams of working on Wall-street and took an internship at Mattel, which he hopes to get a permanent job after graduation.
This is not limited to the American economy. Korea also is having a hard time treating with the recession which is affecting the whole world. Due to the bad economy in Korea, getting a job for the grad is getting more and more difficult these days. What will be the best choice for the job seekers whose graduation is close? According to the article, Paul Oyer, an associate professor at Stanford, suggests to stay in the school until the economy picks up. This is because selecting a job during the recession can affect the one’s whole life. After the one gets a job during the bad economy, though the economy picks up, it is hard to change one’s job with a better condition. Consequently, staying in school till the economy picks up seems to be a lot of lost in the short run, but in the long run, graduating in a bull market will more than make up for it.
It might be worse for under-graduation school grads to get a job they want compared to the MBA students. Handong have been doing pretty well sending their students to major companies in Korea such as LG or Samsung. Because of the recession, however, recently Handong students are hesitating and feeling fear graduating from the school inspite of the good reputation the school has. Do they have to postpone their graduation until the condition gets better? Korean government is relieving the Koreans saying that the economy will pick up this year but nobody seems to accept the words as it is. I think the best choice for the Handong students is to higher their value until the economic situation gets better. Proceeding to graduate school or doing MBA will be a smart move during this recession.
As the world’s economy is at the verge of recession, it is getting harder for the grads to get a job. In this article, the difficulty is shown by a MBA new grad named Casey Quinn. There was time when the B-schoolers had the luxury of choosing from among a half-dozen internships or job offers. As the Class of 2008 prepares to graduate, an uncertain business climate is forcing students to make difficult choices that could have long-term economic consequences. A research on both MBAs and undergrads suggests that graduating into an economic downturn will substantially reduce lifetime earnings.
Quinn, 25-year-old MBA student, who applied for the Morgan Stanley for an internship got refused due to the bad economy. So Quinn went to an alternative plan. He shelved his dreams of working on Wall-street and took an internship at Mattel, which he hopes to get a permanent job after graduation.
This is not limited to the American economy. Korea also is having a hard time treating with the recession which is affecting the whole world. Due to the bad economy in Korea, getting a job for the grad is getting more and more difficult these days. What will be the best choice for the job seekers whose graduation is close? According to the article, Paul Oyer, an associate professor at Stanford, suggests to stay in the school until the economy picks up. This is because selecting a job during the recession can affect the one’s whole life. After the one gets a job during the bad economy, though the economy picks up, it is hard to change one’s job with a better condition. Consequently, staying in school till the economy picks up seems to be a lot of lost in the short run, but in the long run, graduating in a bull market will more than make up for it.
It might be worse for under-graduation school grads to get a job they want compared to the MBA students. Handong have been doing pretty well sending their students to major companies in Korea such as LG or Samsung. Because of the recession, however, recently Handong students are hesitating and feeling fear graduating from the school inspite of the good reputation the school has. Do they have to postpone their graduation until the condition gets better? Korean government is relieving the Koreans saying that the economy will pick up this year but nobody seems to accept the words as it is. I think the best choice for the Handong students is to higher their value until the economic situation gets better. Proceeding to graduate school or doing MBA will be a smart move during this recession.
No comments:
Post a Comment