Despite a tight job market, Executive Director of the MBNA Career Center Sylvia Robinson said that this year’s Georgetown graduates remain a very strong draw for companies building their leadership for the future.
According to the Feb. 22 New York Times’ article entitled “Not Wanted: ‘02 Graduates Seeking Jobs,” there will be an estimated 20 to 25 percent decrease in jobs for students who graduate with bachelor’s degrees this year, specifically at the end of the spring semester.
Robinson said that from the viewpoint of the new Georgetown graduate, however, the job market is “improving.” However, the job search for graduates is much more competitive, with fewer hiring bonuses, Robinson said.
University career fairs across the country have also been affected by the rigorous job market, according to Robinson. She explained that in contrast to many other universities’ career fairs, which have been cancelled due to lack of companies’ and organizations’ participation, Georgetown’s have increased in company attendance. Robinson said that the October Career Fair had representives from over 143 companies, 40 more than last year, despite the recession.
Robinson said that she was also pleased that student participation in October’s fair increased by over 100 percent, indicating students’ awareness of the tight job market and the need to explore all the available possibilities.
Regarding students who accept jobs outside of their major, Robinson said, “What is happening this year is that students are finding out that a business degree can be used as effectively … in the non-profit world as on Wall Street.”
In Washington, however, where politics is the predominant industry, Robinson believes that government, non-governmental organizations and non-profit-related opportunities seem to be as strong or even stronger than in previous years. Robinson specified that national security and intelligence gathering has been a recently growing field of opportunity.
The New York Times article reported that technology-related jobs’ hiring salaries have decreased from an average of $65,000 to the low $50,000’s. According to Robinson, salary offers for Georgetown graduates are essentially the same, but hiring bonuses are fewer and farther between.
Robinson reinforced that juniors should be looking at internships “as a key to future employment possibilities,” and that seniors should prepare for rigorous competition.
“Seniors need to understand that this year’s job search is more competitive than the searches in the past two or three years. For that reason, they will need to start early, be flexible and proactive and network as much as possible,” Robinson said.
Robinson predicts an optimistic future for recent Georgetown graduates.
“The fact is that the economic indicators are almost all pointing to the end of the recession. Companies and those who make the hiring decisions are seeing change and making plans accordingly,” Robinson said.She said that despite the extra competitiveness, companies are concerned with hiring the best for the future.
“It’s the key to continued success,” Robinson said.
