Skip to comments.Students' career hopes in disarray as crisis batters bank industry
Posted on 09/23/2008 7:27:53 AM PDT by TigerLikesRooster
Students' career hopes in disarray as crisis batters bank industry
BY MELISSA GRACE
DAILY NEWS STAFF WRITER
Saturday, September 20th 2008, 1:50 PM Dolores Adams, a finance major at Baruch College, is one of many business students nervous about career options in the midst of the crisis on Wall Street. Mendez for News
Dolores Adams, a finance major at Baruch College, is one of many business students nervous about career options in the midst of the crisis on Wall Street.
The meltdown on Wall Street has some nervous business students across the city rewriting their résumés.
"You think, 'What is happening? What kind of job will I be able to get?'" said Baruch College finance major Dolores Adams, 21.
"It's a big shock to the system," said Don Baxter, the student body president of Columbia University's MBA program. "We [have] students with offers from Lehman [Brothers]. For them it's up in the air."
Career counselors on college campuses and job experts are telling students to do their homework before accepting any Wall Street job.
(Excerpt) Read more at nydailynews.com ...
If they still want excitement and adventure, they can work as bookies or accountants for mob. I am sure pay would be good. As for the risk, in this time of hardship, that is something they have to swallow for a fat paycheck.
If you will now excuse me, I have to go cling to my guns and my religion. I'll be in the basement if you need me.
Those who did have a shot at Wall Street could probably only get back-office jobs anyway, which really don't pay much more than non-Wall Street business jobs.
Well its off to the local community college to learn a trade...well that’s what you have told other diplaced workers.
Boo Hoo, these smart students made the decision to enroll in business, instead of medicine or other productive fields because it looked like the big bucks were made on Wall Street and in investment banks. Now that the wind has changed they cry. Welcome to reality.
I am crying as my mortgage is paid, my 401k is down and I am a taxpayer and will have to pay more taxes in this pork laden bail out bill.
Or do you think we should have a little empathy across class lines?
This is an adjustment that’s been needed for a while. Time for these young people to switch to productive careers.
Ouch. That's gotta hurt.
If they still want excitement and adventure, they can work as bookies or accountants for mob.
Finance major...just work as an accountant or start your own business or both, until this stuff blows over.
I'm glad that I'm a Computer Science major. My target job market (Northern Virginia) is still white hot.
“”We [have] students with offers from Lehman [Brothers]. For them it’s up in the air.” “
I don’t think the air is where the offers are.
More like in the toilet.
(p.s. I have an MBA, summa)
Am I the only one who is sick and tired of these “students” whining? We’re supposed to pay for their educations where. We’re supposed to pay for their medical care, we’re supposed to assure them great jobs and admire them as the elites of the country and we’re supposed to defer to their greater understanding of history (which they DIDN’T learn). Yes, I am very tired of it!
People in Computer Science had their turn at the beginning of the decade, now it’s Finance people’s turn.
The bottom line is, don’t pick your career based on where you think the money will be, pick something that you want to do, work at being the best it, and regardless of which career you chose, you will have success, but there probably will be bumps on the road.
Before or after you got your MBA? I’ve heard four years as an officer post-college is the best way to get into Harvard Business School (and presumably other top schools) short of a job with Goldman or McKinsey or the like.
Am I the only one who is sick and tired of these “students” whining? We’re supposed to pay for their educations, we’re supposed to pay for their medical care, we’re supposed to assure them great jobs and admire them as the elites of the country and we’re supposed to defer to their greater intellect. Yes, I am very tired of it!
Yikes, what happened?
There is nothing wrong with working with a computer and paper instead of with one's hands. Class resentments are unjust whether they are looking up the social scale or down it.
Well, having worked in the defense industry in the 90's and having watched dozens to hundreds of people getting laid off as Clinton cut spending, I think I can address your statement.
Since there are no guarantees in life, I guess I don't have empathy regarding those affected in this story.
I am currently going through a career change having been idled by the real estate crisis.
Do I ask for empathy, do I care what others think? No.
To the working world, I am simply an asset to be used and discarded as needed. It is my responsibility to make sure that I have value in the job space. Yes, it's a cruel world but that is the way it is.
well their messiah osamaobama and his wife RuPaul say that it’s bad to go to work for private industry anyway-that you should just go to work as well, community organizers.
I fully agree. Nonetheless, I am still sorry to see Lehman and Bear Stearns fail, just as I am sorry to see the domestic auto industry collapse. Does this mean I support government bailouts or protectionist measures? No, it's up to them to take care of themselves, but I'm not happy when things don't work out.
BTW, the blue bloods will be fine--their families still have enough money and connections that they'll never be standing in the unemployment line. But lots of hard-working middle-class kids who made it to Wharton on scholarship and went to investment banks which seemed to promise more money than they'd ever seen in their lives won't be so lucky.
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