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Class of 2009 Faces Worst Job Market in 25 Years

A. Dupin — Tue, 12 May 2009 10:06:37 +0000

During any economic rough spot, studies of previous downturns and recessions start popping up all over the place. Sometimes they offer a little light at the end of the tunnel, but some new studies show just the opposite for recent graduates. Entering the worst job market in 25 years isn’t the only cross to bear for these recent grads, studies are showing that the effects of the recession could last for 15 more years before getting back to normal.
The example offered by the Wall Street Journal is sobering:

For example, a man who graduated in December 1982 when unemployment was at 10.8% made, on average, 23% less his first year out of college and 6.6% less 18 years out than one who graduated in May 1981 when the unemployment rate was 7.5%. For a typical worker, that would mean earning $100,000 less over the 18-year period.

The article is filled with other, spooky statistics, but the point is pretty easy to grasp: Unemployment climbs because fewer jobs are available. Layoffs plus fewer jobs available means a glutted job market, which leads to people snapping up jobs wherever they can. As relevant experience can be difficult to come by in tough times, recent graduates are turning towards internships and entry-level positions that are less than desirable.

Over Qualified? No Problem.
My local schoold district saw an incredible jump in the number of substitute teachers this past year. Two years ago, teaching students were being strongly encouraged to pick up sub positions. Schedules were rearranged, extra credit was given–there was a district-wide shortage of substitutes. Schools had to juggle available staff just to get through the day without teacherless classes. Today, on the other hand, there are so many substitute teachers that few are able to make a living on the scant openings. This is good for schools, because they don’t have to put up with some of the terrible subs that were the only option before, but awful for education students trying to make ends meet while gaining experience.

It’s happening across the country and across the board. Recent graduates are getting stuck with sub-entry-level positions, hoping to move up or at least have something to put on a résumé. The positions that were once going to the recent graduates are now being filled by candidates with years of experience.

But What About My Student-Loan Debt?
The default rate on student loans is skyrocketing because of this situation. There are more students with more debt coming out of our universities than ever before, and they can’t get jobs that pay enough to pay off their debt. When the economy was doing well, the student-loan debt issue was bad enough. Today, we’re left wondering what will come of it all. The Gen-Xers may be just finishing paying off their debt, but Generation Y is facing a far greater challenge.

Steps are being taken by the new administration to change the face of financial aid, but how many classes are going to fall through the gap before these new plans take effect?

It’s Getting Better All the Time

A. Dupin — Thu, 22 Jan 2009 15:38:25 +0000

Over a few pints at a local brewery, a friend and I began to talk about education. He’s worried. Now, it seems like there’s a lot of worry going around. These are toughening times for colleges, universities, students, and public education. The budget, though, was not his main concern. What got him all riled up was his belief that America has fallen behind the rest of the world in math and science.

The Past
This was a hotter topic in 2006 and 2007, before the economy began hogging the news. The question became: has anything actually gotten better or have we shifted focus from what’s being taught to whether or not the schools will have the money to stay open?

The Present
The results are mixed. Apparently, our youngsters are doing better on a few tests than they did in 1995, which has improved our ranking internationally. The catch seems to be that, though we’ve improved, we’re still not all that great. This new data has started up the conversation again, which is a good thing. (I don’t know about you, but I’m finding the economy rather depressing.) Opinions are flying, and that helps get things done, typically. It seems that we’re still bringing up the old monkey-debate questions. This seems telling.

Why are we still behind in science? Because we’re still fighting over what to teach.

Why are we still behind in math? That’s a bit more complex. There’s the cultural side of things (i.e., only geeks are good at math). There’s our cultural stance on the gender side of things (i.e., girls can’t be good at math). The results are in: being a math wiz is good for your career and your happiness therein. It seems like more people are paying attention to this trend, but only time will tell whether we, as a country, are shooting ourselves in the math-education foot.

The Future
Things are looking up. Obama has already taken a firm stance on math and science education. With outsourcing becoming more of an issue in the recent economic downturn, I’m going to predict that many companies will, once they’re able, make the excellent PR move of bringing jobs back to the US. A lot of the jobs we’ve sent overseas require advanced math skills. Whatever happens, picking up the slack and teaching our children that math and science are important (not just nerdy) can only lead to a brighter future.

Introducing the New Salary Information Widget!!!

uni.versatility — Thu, 20 Nov 2008 01:44:09 +0000

Higher Education & Salary Potential
The relationship between higher education and salary is well documented. The more formal training you have, the higher your earning potential. But have you ever wondered what that potential actually is? How does a bachelor’s degree in computer programming compare to an associate’s degree in massage therapy? And how much does an extra year of training affect either of these two fields? How much more can you make with one degree over another?

Salary Information Widget Removes the Guesswork
Well now, you can remove much of the guesswork from this equation. Using our new salary information widget, you can input the training you have and compare that to the training you want to see what the potential salary difference is. The benefits of this neat little tool are tremendous. If you’re on the fence between two different degrees or disciplines, this salary information widget can tell you which option might be a better fit. If you’re wondering how best to budget for a particular degree, this widget can give you an idea of how long it might take to pay off your loans.

Actions Speak Louder Than Words: Play with the Widget
I could go on describing this salary tool, but the best way to become acquainted with it is to try it out yourself. It’s available here. Play with this widget and try different combinations of degrees and fields. Share it with your friends and family members as well. If you have a brother who’s thinking about becoming a physical therapist or a sister who wants to become a gourmet chef, you can tell them what to expect with regards to salary.

Nothing Beats Experience, but Degree Holders Rule the World

uni.versatility — Tue, 18 Nov 2008 04:25:51 +0000

Self-Learning Is Great. Formal Education Is Better.
I’m a big fan of experience, trial & error, and self-learning. When you work your way through problems and challenges, you master a much broader range of skills than if you have someone sit down and show you all the shortcuts. In many ways, those who pursue personal, informal education often learn more than those who receive formal instruction. However, degree holders rule the world. Politicians, lawyers, engineers, programmers, teachers, doctors, and entrepreneurs rarely get to the top on “can-do” dedication and sacrifice alone.

Why Are Higher Degrees So Important
Simply put, higher degrees send a signal to employers that you have accomplished a certain level of training. True, you might have plenty of skills, dedication, and know-how without a degree, but how can an employer assess this using your resume or an interview? How will he or she know what level of personal training you’ve accomplished? Self-learning provides few outward indicators that you can share easily in a cover letter. Degrees, on the other hand, make your accomplishments measurable, knowable, and demonstrable.

Online Degrees Combine the Best of Both Worlds
If you want to combine formal education with a fair amount of self-learning, online degrees offer the best of both worlds. You benefit from specialized instruction, but online programs leave ample room to stray beyond the confines of the standardized curricula. You can work at your own pace, enjoy unprecedented freedom, and pursue an incredibly broad range of courses as you work towards your degree. By the time you graduate, you’ll have both the experience and the degree.

Get the Most from Your Expat Experience by Studying Online

uni.versatility — Thu, 13 Nov 2008 06:12:08 +0000

Non-Working Spouses Who Live abroad Can Still Learn
If you’re a spouse who lives abroad but can’t legally work, you might have difficulty finding ways to fill your days. After awhile, novelty of living abroad begins wearing off, and you won’t always have a network of friends with whom to visit museums and have “power lunches.” If this sounds familiar, consider what an online degree can do for you, both professionally and socially.

Online Education Gives You an Instant Social Network
Through online education, you have access to an instant network of friends and professors with whom to share ideas, gossip, and work. Scattered around the globe, these individuals can substantially enhance your understanding of the world. Michael in Venice, Sasha in Moscow, and Jane in Los Angeles can help remove much of the boredom you might be experiencing.

Online Education Prepares You Professionally
Chances are, you won’t live abroad indefinitely. Wouldn’t it be nice to come back to the States (or wherever home is for you) with a marketable degree you can use to find rewarding jobs? Even if you plan on living abroad forever, you might be able to legally (or illegally) work in your country of residence. If you study Web design, for example, you can telecommute quite easily. And if you study nursing, there’s a good chance that you can secure a work permit if demand in your country is high enough (it often is).

The point is, there’s no reason not to continually improve yourself…especially if you’re currently bored and looking for things to do. Online education offers both freedom and flexibility, no matter where you live in the world. All you need is an Internet connection and some free time (both of which you have if you’re reading this).

One Doctorate, Two Master’s, Four Bachelor’s, or Eight Associates?

uni.versatility — Fri, 07 Nov 2008 17:15:19 +0000

Is It Better to Have Two Associate Degrees or One Bachelors?
Moving incrementally up the ladder, is it better to have two associate’s degrees or one bachelor’s? Two bachelor’s or one master’s? Two master’s or one doctorate? If you’re looking for a one-size-fits all response, you might be disappointed. As with most things in life, the answer is never simple. The number and type of degrees that you pursue ultimately depends on what you want to do with them.

What Kind of Career Do You Want?
If you wanted to launch your own business, having an MBA and law degree would probably be way more useful than having any single doctorate diploma. Conversely, if you wanted to become a university professor, it is unlikely that any combination of associate degrees could get you there. It’s really a matter of how specialized you want to become in any given field versus how many different areas you would like to explore. Do you want to become a Jack of all trades or master of one.

Cost, Time, and Effort as Major Determinants
Resource investment is also another criterion you should consider. Are you prepared to apply to many schools, or would you prefer to apply to just one or two? In addition, many doctorate programs provide generous funding, while most associate’s degrees offer very little in the way of free money.

Ultimately, you need to decide what you want from your education, what you hope to do with your diploma(s), and what you’re prepared to accomplish in the process. These answers will inform your final decision.

Should You Tell Your Boss That You’re Going back to School

uni.versatility — Mon, 03 Nov 2008 15:03:03 +0000

How Much Should Your Boss Know about Your Education Plans?
Continuing education (especially online) is becoming an increasingly popular career-advancement tool for thousands of professionals across the country. Whether you want to change jobs or move up the ladder, an additional degree or certification can sometimes make all the difference. But how much information should you share with your employer? Well, the answer is not as simple as you might believe. There are instances where full disclosure might be a wise decision. But there are also cases where telling your boss might only make things more difficult for you.

Case 1: Your Job Might Pay for Your Education
With certain jobs and industries, it is possible to have your boss foot all or some of your tuition. Often times, he or she will expect you to stick around after you receive your certification to help “repay” the investment. This repayment isn’t usually in strict financial terms. Rather, you simply lend your new-found expertise to the company for a set period of time (often at a higher salary bracket). If your company has this type of structure set up, you should consider discussing possible arrangements with your boss. Why pay for school when someone else is willing to cover the costs?

Case 2: Your Boss Stifles Advancement
Believe it or not, some bosses out there don’t like to see their employees get ahead. This is especially true if advancement could translate to competition for the boss’ own job. He or she might do everything possible to block your efforts for continued education. Extra projects, longer hours, weekend commitments, and poor reviews are just some of the tools they have at their disposal.

My general attitude is that if there exists no financial aid possibilities within your organization, it’s best to keep your online program to yourself. True, your boss might be proud of you (even encouraging), but ultimately, what you do with your own time is your own business. Wait until you have completed your program before sharing your accomplishment with bosses and coworkers. If the promotions and salary raises don’t come at that point, perhaps it’s worth looking at other career options.

Turning Missionaries into Mercenaries: Obama’s Plan for Education

uni.versatility — Sat, 25 Oct 2008 03:23:09 +0000

Public School Teachers: Gatekeepers of America’s Future
Kudos to the tens of thousands of public school teachers out there who get up every morning, rush off to school, and work with unmotivated students using out-of-date textbooks in overcrowded classrooms. You do all of this for 5-8 hours every day, only to take home papers, tests, and quizzes to grade every evening. Thereafter, you map out some more lesson plans and get ready for bed to repeat the process again tomorrow. At a median salary of $44K a year, you are missionaries of academia, grossly underpaid for the sheer volume and importance of the work that you do. It’s time to turn your missionary status into mercenary status.

Obama’s Plan for Public Education
I don’t think that any single national politician has done everything he or she could to help transform public schools in recent memory. Even Barack Obama, bright light of hope that he is, has critical flaws in his approach to public education. That being said, his education plan shows tremendous promise. Assuming he can pay for it (given the recent economic downturn), and assuming he can get it passed (which is very possible with a filibuster-proof majority in the making), the public education system could receive an $18 billion a year injection under Obama. Compare this to a spending freeze on non-military discretionary spending under a McCain presidency.

Education Is not an Expense…It Is an Investment
Just imagine what would happen if teachers were paid $90K or $100K out of college. Do you know how off-the-charts the competition would become? Instead of everyone rushing to Wall Street and law school (where so much of money is today…or used to be), the education system might receive a huge boost in potential teachers, all vying for a shot at the big time. It’s time we started paying our teachers like the professionals they are. Our children and country deserve no less.

We Need a New Myth for the “Starving Artist”

uni.versatility — Thu, 23 Oct 2008 03:45:30 +0000

Some Artists Seem to Have Plenty to Eat. Why Is That?
The myth of the starving artist has been depicted in books, film, television, and of course, art. And although it serves as a powerful vehicle for storytelling, this myth might need some serious reworking in the digital age. For whereas demand for still-life portraits might be on the decline, graphic designers, animators, and related workers should find demand for their skills holding steady or rising. Much of this growth stems from the rapid increase in advertising spending and digital media. For every commission that Picasso may have received 100 years ago, there are probably 100,000 magazine covers, billboards, movies, commercials, and logo requests in today’s world.

The Relationship between Art & Business
If you opt to design magazine spreads rather than pastoral scenes, does that mean you have compromised your artistic integrity? I would posit that you haven’t. Mozart, Da Vinci, and Charles Dickens all produced their works for money. Lofty symphonies, timeless masterpieces, and immortal classics don’t create themselves. They must be funded. They must be commissioned.

Were these guys sellouts? Of course not. It’s just that they understood the relationship between art and business. If anything, they should have embraced this relationship even further. Maybe then, Mozart could have produced more music and died a richer, older man.

How Do You Become a Well Fed Artist?
It used to be that talent alone was all you needed in the art world. But because there exists such a market around creative jobs, you also need education and training. Proper schooling at the associates or bachelors level can open many more doors than having no education at all. Employers want to see that you understand the basic principles of your craft. However, they also need to know that you possess the necessary problem-solving skills required for many media jobs.

Formal training can equip you with the tools necessary for success. Thereafter, you stand a much better chance of earning the $40K to $50K a year median salaries enjoyed by graphic designers and animators in the art world. With that type of money, you probably won’t have to search too hard for food.

Where to Put Your Diploma on the Resume

uni.versatility — Mon, 20 Oct 2008 17:21:53 +0000

Should Education Go at the Top or Bottom of your CV?
When building your resume, should you include education before professional experience or vice versa? This is a problem that confronts many job seekers, and unfortunately, everyone seems to have his or her own take on the situation. There are pros and cons to either arrangement, so it really depends on a number of factors (industry, job, HR rep, etc). Below are some quick pointers to aid you in your CV design:

Fresh out of School?
Although some might disagree, I’ve always felt that if you’re fresh out of school, your education should go near the top in descending chronological order (i.e. most recent degree at the top). Presumably, your degree is pertinent to the industry you’re pursuing, so putting it here makes the most sense.

Technical Job?
When applying for an overly technical job that requires very specific training and certification, your education should go at the top (assuming you have said education). Don’t bury the fact that you have HVAC certification or EMS licensing. These are things you should promote front and center.

Impressive Experience?
If you have an impressive professional history, it probably makes sense to highlight these accomplishments prior to any mention of your education. “Impressive” is extremely subjective, but years as a volunteer firefighter or Himalayan Sherpa will definitely turn some heads.

Impressive Degree
Advanced degrees (anything after a bachelors diploma) should go near the top. When you have nearly 20 years of schooling (kindergarten through master’s degree) under your belt, you deserve to flaunt it. This is especially true if you don’t have many “career-builders” in your resume already.

None of these prescriptions represents the gospel truth. For every HR rep who prefers one way, you can find one or more who prefer it the other way. But by using these as guideposts, you can potentially increase your chances of getting your foot in the door.