Miami Herald Edition

Even though I am a die-hard New York Times girl, I will periodically read my hometown newspaper, The Miami Herald. It must have been a lucky day, because on the front page of the business section was an article titled "Once-certain jobs for postgraduates are scarce". Horrifying? Absolutely. Real? You bet.

College graduates are not the only group of people feeling the tight constraints of the job market. Recent MBA and law school graduates are also struggling to find jobs---some having graduated from top schools such as UC-Davis and even better, at the top of their class.

Nearly a decade ago, markets for both MBA and law students were thriving. But now, there are "too many applicants and not enough career opportunities". According to the article, nearly 80% of employers scaled back on campus recruiting, an event that many students relied on as an integral part of their job search. For law school graduates, the market has simple "tanked", according to the executive director of the National Association for Law Placement. Law students who actively pursue summer associate positions (which historically lead to job offers) find that there are fewer offers. For those who were lucky enough to be offered jobs, start dates have been pushed back, some indefinitely.

But there is another element of fear for those who are graduating unemployed: student debts. Law school students graduate with nearly $80,000 worth of debt for a private school education, and those who attend public school graduate with nearly $54,000 worth of debt.

To help those who are unemployed, law schools have begun creating their own jobs, attempting to formulate relief packages. UC Berkley's law school has created career development and financial planning programs for third-year law students and creates "bridge fellowships" for third year students hwo have not found jobs.

The good news is that despite a discouraging market, law and business schools are seeing a surge in interest and applicants. Perhaps it is to delay the inevitable or perhaps people are hoping that by the time they graduate, the job market will be better. The best thing to do is remain informed and realistic about the current economic situation. As Sir Francis Bacon once said, "knowledge is power".

Happy hunting.

For the full article, click here:http://http://www.miamiherald.com/2010/03/22/1539941/once-certain-jobs-for-postgraduates.html