Archive for Category: Economic Crisis
New Research on Millennials and the Great Recession
Posted in Economic Crisis Future of Careers Generation Y on May 13, 2010 at 12:46 pm
On Tuesday night I attended a dinner hosted by the Atlantic Media Company in Washington, DC, to discuss the results of the brand new Allstate-National Journal Heartland Monitor Poll, which offers a look at the economic experience of the Millennial generation.
There were about 20 of us at the table, including representatives from government, think tanks, media outlets and labor unions. The discussion was moderated by Ron Brownstein, who is not only a well-respected journalist and father of a Millennial, but, I learned, is also a fellow fan of Lost. (Yes, he was careful to end the dinner before Tuesday night’s episode.)
Here are some of my main takeaways from the discussion and the poll:
Job security is trendy. One of the more surprising findings of the poll is that 55% of Millennials say their goal is long-term employment with a single employer. And, when asked to rank their most important workplace priorities, job security was number one (with money a close number two). Personally, I believe this will change as the economy improves. I just don’t see Gen Y-ers sticking with traditional career paths with all of the options and portable benefits available in the new economy. In fact, many of the dinner attendees joked that they don’t even want to work for their current employers for the rest of their careers.
Read the rest of this post on my “College to Career” blog at MyPath.com…
One Way to Help the “Lost Generation”
Posted in Economic Crisis First Job Out of College Generation Y Internships Recommended Resources on November 2, 2009 at 11:00 am
A recent BusinessWeek cover story called today’s graduates “The Lost Generation,” citing statistics that young people who graduate in recession years continue to earn less over the long-term course of their careers.
This weekend, New York Times columnist Bob Herbert addressed the same issue, writing:
“These recent graduates have done everything society told them to do. They’ve worked hard, kept their noses clean and gotten a good education (in many cases from the nation’s best schools). They are ready and anxious to work. If we’re having trouble finding employment for even these kids, then we’re doing something profoundly wrong.”
Like BusinessWeek and Herbert, I am very worried about the situation for recent college graduates. Today I want to share with you what I’m doing about it:
I have and always will pay any interns who work for me. If you are a business owner, I ask that you do the same. (more…)
Tags: Internships
3 Ways to Make the Most of a Jobless Summer
Posted in Career Advice Economic Crisis Entrepreneurship First Job Out of College Generation Y Recommended Resources Volunteering on July 5, 2009 at 4:22 pm
Another summer weekend, another article about the tough job market for recent college grads. This week’s installment appeared in The New York Times Style section in the form of “Say Hello to Underachieving” by Alex Williams.
I’m very glad this topic is still on the radar screens of major media reporters. I just wish the articles would include some helpful suggestions for young people who find themselves in the tough position of facing the longest recession period since the 1930s. The Comments section of the Times article certainly included a lot of — ahem — suggestions, but I’m not a big fan of snark. So, I thought I’d share my three cents on how college students and recent grads can still improve their resumes without a traditionally “good” summer job or internship. (more…)
New video: How part-time work and volunteering can help you find a job
Posted in Career Advice Economic Crisis First Job Out of College Job Hunting Recommended Resources on May 4, 2009 at 12:35 pm
Click here to watch a new video interview posted on CareerTV, sponsored by PwC.tv. In this episode, CareerTV host Sean O’Grady and I talk about how part-time work experience and volunteering can help you land a job in this competitive market.
Click here to watch the full 3-minute video, filled with lots of advice and tips for job hunting in the recession.
Career Q&A: Should you leave a good job to find a great one?
Posted in Career Advice Career Change Economic Crisis on April 19, 2009 at 3:01 pm
Q: Right after graduation in 2007 I got a job working full time in the office of a small local company that is well known and respected in my community. While the position itself had nothing to do with what I studied and I knew it would eventually bore me, I needed the immediate income and health benefits as my parents could no longer support me. I intended to stay for about a year and half and then move on.
Mentally and emotionally, it is now time for me to move on but I don’t know how wise it is to leave a secure job right now. I also don’t know how I could network, explore career and/or graduate school possibilities, and seek a new job without my current (well-connected) employer hearing about it until I am ready to talk with him. I’ve grown close to my co-workers and I truly respect the owners of the company and don’t want to damage those relationships. Any advice on how to find a new job while you have a full time job (and appropriate etiquette) would be much appreciated.
Thank you so much for taking the time to review this comment.
- Emily
Click here to read my response to Emily’s question on my blog at PwC.tv…
Tags: PwC.tv
All is Not Lost for the Class of ’09: Lindsey in The New York Times
Posted in Career Advice Economic Crisis First Job Out of College Job Hunting on April 12, 2009 at 4:42 pm
Thank you to reporter Eilene Zimmerman for including me in this Sunday’s New York Times “Career Couch” column, featuring positive advice and suggestions for graduating college students. The article also mentions the Q&A blog and free downloadable job search worksheets I’ve created with PricewaterhouseCoopers.
Here is an excerpt from the Times column:
Q. You are about to graduate from college and will be entering one of the toughest job markets in decades. Is the situation as hopeless as it looks?
A. Unemployment is at a 25-year high, and employers expect to hire 22 percent fewer graduates this year than they hired last year, according to a survey by the National Association of Colleges and Employers. So, yes, the situation is troubling, but it certainly isn’t hopeless.
Accept that you may need to adjust expectations — not just about the job itself, but also about its pay and location.
“If you studied finance, consider working in accounting, insurance, small business or government, rather than just Wall Street,” said Lindsey Pollak, author of “Getting From College to Career: 90 Things to Do Before You Join the Real World” and a blogger on www.pwc.tv, a PricewaterhouseCoopers career site for new college graduates.
Keep in mind that the rest of your life is unlikely to be determined by your first job, said Rebecca Sparrow, director of career services at Cornell University. “Understand that no matter what you choose, it will be an opportunity to learn about work and about yourself, and that will help with your next step.”
Click here to read the rest of the article, featuring good advice and encouragement from several career experts.
Image: Chris Reed, The New York Times
Tags: The New York Times
Job hunting tips for the Class of ’09: Lindsey on CBS News
Posted in Career Advice Economic Crisis First Job Out of College Generation Y on March 19, 2009 at 9:21 am
Last night I was a guest on CBS News Up to the Minute with Michelle Gielan. We chatted about ways that college seniors can land jobs despite the recession. The main theme: take action every day and try a wide variety of tactics!
Click here to watch the 4-minute video
Tags: CBS News, jobs, Michelle Gielan
Considering Entrepreneurship: First steps to starting your own business
Posted in Career Advice Economic Crisis Entrepreneurship Recommended Resources on March 15, 2009 at 8:14 pm
This Saturday’s New York Times featured a front-page story about how the recession is prompting some people to start their own businesses instead of looking for new jobs. It’s an encouraging story if you’ve ever considered the option of creating your own venture, large or small.
While some people decide to dive headfirst into entrepreneurship, others feel more comfortable dipping in a toe, then an ankle, then a knee before swimming solo. The choice is very personal and depends on your experience, finances and overall comfort with risk. But, if you’re thinking even just a little bit about starting your own business, it’s never too early to take actions that will set you up for taking the plunge when you’re ready. Here are some suggestions for first steps to take if you’re thinking about starting your own small business or becoming a full-time freelancer: (more…)
How to get a job in the recession: New videos, Q&As and downloadable worksheets
Posted in Career Advice Economic Crisis First Job Out of College Generation Y Job Hunting Networking Recommended Resources Uncategorized on March 8, 2009 at 8:30 pm
The February jobs report came out on Friday and it was bad — even worse than expected. If you’re graduating this spring, or have recently graduated, you’re probably pretty frightened.
I absolutely understand we are in deep economic trouble, but I also know that there are opportunities available for young professionals who are smart, hardworking and willing to go the extra mile. PricewaterhouseCoopers has the same attitude. I’m currently working with PwC on a national project to help students and recent grads to “recession-proof your job search.” A few weeks ago I provided ten tips and a video on PwC’s website, and now we’re expanding the resources available to make sure you can find all the help you need to get a job.
Visit PwC.tv for:
Job search Q&As
Career advice vidoes
Downloadable worksheets on such topics as getting started, networking and personal branding
A blog to post your own questions for response by me and PwC’s career experts
Don’t miss out on all of these free resources — visit PwC.tv today and learn how to forget your fear and recession-proof your job search.
Career Q&A: Should I change my career plans because of the recession?
Posted in Career Advice Career Q&A Economic Crisis First Job Out of College Generation Y Graduate School Job Hunting on March 3, 2009 at 10:13 pm
Q: I graduated in May with a political science major and am wondering what to do next. My plan was to apply to law school, but with so much student debt already incurred I am having second thoughts. I am currently working at a bank as a teller, but this is not the career I wish to pursue. With the current recession and unemployment rate I am terrified that I will be a bank teller forever. Any suggestions? — Lauren, Racine, Wis.
A: You are smart to consider your finances when making a decision about law school. However, if you’re sure you want to be a lawyer, I believe that where there’s a will there’s a way. Start researching scholarships, financial aid packages and part-time programs (which allow you to continue working) as ways to lessen the financial burden. Law can be a very lucrative career, so it’s OK to take on some debt to finance your education. However, if you are not sure you really want to be a lawyer, don’t apply until you’ve made up your mind.
Regarding your fear of becoming a bank teller forever, that is entirely up to you. If you are securely employed in that position right now, my best advice is to make the best of it, learn as much as you can in that position and network with your colleagues to help build your connections and your access to future opportunities.
In this tough job market, I wouldn’t recommend giving up a decent job. (Of course, if being a bank teller is sucking the life out of you, then you need to make a change, even if it means working in a pleasant retail environment or a coffee shop.)
Whether you keep your bank teller job for the short-term or not, it’s important to keep researching and networking in the industry in which you’d like to work. If it’s law, then subscribe to law journals, read legal blogs, attend networking events and professional association meetings for lawyers and ask everyone you know to introduce you to attorneys who would be willing to provide you with some advice and guidance.
Just because you’re not working or studying full-time in a field does not mean you can’t be part of it. Every action you take and connection you make now will help you position yourself for a career move when the economy turns around.
Click here to read more of my career Q&As on ABC News on Campus
Click here to submit a question of your own
Image: ABC News/Getty
