CAREER CONCERNS

With the economy reeling, companies across the nation are instituting hiring freezes, meaning some students could find it difficult to land a job come graduation.

A new study released by the National Association of Colleges and Employers shows employers plan to hire just 1.3 percent more graduates in 2009 than in the current year ­– the weakest job outlook since 2002.

“That is a sign that business is declining,” said Edwin Koc, director of strategic research for the association. “Our employers – in order to hire more college students – need to project some business growth, and that’s not being projected in the current climate.”

Unemployment is up to 6.5 percent, its highest level since 1994, according to new data from the U.S. Department of Labor.
 
What does all this mean for IU students?

Mark Brostoff, an associate director of the Undergraduate Career Services Office at the Kelley School of Business, said 10 to 15 percent fewer companies are hiring at the business school this year compared to last year. Investment banking companies have cut their hiring plans, as have retailers such as Kohl’s and Target, he said.

In the nonprofit sector, foundations, philanthropic trusts and charitable organizations dependent upon corporate sponsorships are feeling the pinch, said Ray Clere, director of the School of Public and Environmental Affairs’ Office of Career Services.

Experts say, however, there are still opportunities out there, and students should not halt their efforts to find a job because the economy is coming to a standstill.

More companies are interviewing students for internships, Brostoff said, and recruiters say there are still good jobs to be had.

“Companies are still certainly recognizing the need for internships and opportunities for students to get good internships within the field,” he said.

Holly Paul, director of sourcing operations at accounting firm PricewaterhouseCoopers, said the economy isn’t affecting her firm’s hiring plans.

“For us, our recruitment needs are really still quite strong,” she said. “We expect to hire about the same amount of campus candidates that we did last year, which is around 3,000.”

PWC is a public accounting firm and is ranked the fourth largest undergraduate recruiter in the business school, according to the school’s Web site.

Much of PWC’s revenue comes from handling audits and tax returns for other businesses, Paul said.

Because the need for these services is constant, PWC can maintain its hiring standards, she said.

However, there are other reasons for maintaining a high standard of recruitment on campuses such as IU.

“We recruit off of campus to build for the future,” Paul said. “We don’t normally really react or pull back because when we recruit on campus, we’re building for our future manager and partner ranks.

“We are still really actively recruiting for our internship program. It is the cornerstone of our campus recruiting efforts.”

Paul said she believes there is hope in the job market, despite the obvious losses in job opportunities in some areas.

If students get discouraged, Brostoff said, they could miss opportunities.

“You can’t stop looking,” he said. “If you’re looking for jobs, you have to recognize it is getting more competitive. You have to ask yourself, ‘What am I going to do to make myself more competitive?’ You have to be creative.”

Paul said it is important for students to be flexible and to flow with the job market so they can open themselves to future opportunities. Some skills that help in the job search are the technical, field-related skills. Now, softer communication skills and well-roundedness are also in very high demand, and they can set a candidate apart from the rest of the pack.

“Being change-agile and being comfortable with change is extremely important,” Paul said. “That kind of skill set and the ability to do that is extremely important.”

Despite hiring freezes in some areas, there is still hope in the job market for students who go out and search for opportunities earnestly.

“Opportunities for really great students will always exist,” Paul said.