It used to be a golden ticket to a high paying job, but nowadays you have to wonder if earning an MBA or law degree could be a liability that could leave you saddled with mountains of debt. 2009 was a tough year for graduate students, even ones from top schools, to land that perfect job.
For example the Graduate Management Council which tracks these matters says their research shows companies that hired 12 MBAs on average in 2008 only hired half that many in 2009. And the picture doesn’t look much better for law school graduates. Big firms aren’t hiring nearly as many students as they did in 2008 and for those they do hire, they are often delaying the start date… leaving grads hanging for months.
Still career counselors say, fear not for these educated young adults because the job market will improve. In the meantime, says Kip Harrell of MBA Career Services Council, offers this advice to those looking for work, “Hope is not a strategy, and you should always be on your A game.”
Harrell adds that graduating students should have their plan A, B and C… and be prepared to take action on plan C if they have to.