Obtaining Jobs During a Recession
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As we are all well aware by now, the United States has entered a recession. While the financial and credit institutions of Wall Street have been severely battered, the fiscal squeeze has now infiltrated “Main Street” and the average consumer has been struggling in recent months. These trying times can be particularly difficult on recent college graduates. From internships to full-time positions, practically all firms have diminished their recruitment efforts and have been offering fewer positions to students across even the top universities. |
After participating in over fifty interviews over the past twelve months and having secured a full-time offer from a leading consulting firm, I offer the following advice to those preparing to tackle this bear market and to find a job in the near future.
1. Be flexible – In a difficult market place, it is unrealistic to expect to obtain your ideal job. Without a doubt still apply for every position that you are interested in, however, be prepared to face the fact that you will most likely not end up at your first choice. The truth of the matter is that it may even be fairly likely that you will not end up in your ideal industry or position type. I initially wanted to join the investment banking realm but given the competitiveness of the industry, I eventually expanded my search to consulting firms as well. I highly encourage you to consider alternate industries and positions and to weigh the importance of joining a reputable firm even if it’s not your ideal position. One can always change a job if they do not like it and you never know who you may meet along the way.
2. Tap into your extended network – Through out college you will always hear the importance of building your network. While this is a valuable lesson, sometimes all of your connections simply won’t be enough. Feel free to tap into the networks of those close to you as well. Ask for career advice and opportunities from relatives, family friends, and teachers as well. Some of my best interviews came from friends of a friend. Just remember to always be respectful and gracious when someone extends a helping hand. Always send thank you notes and never be too forward or aggressive in seeking help.
3. Prepare – Eventually some firms will offer you interviews and you will have your thirty minutes to shine. Unlike other years, these chances may be sparse so you must make the most of every opportunity. Before each interview, study details about the firm, learn exactly what your responsibilities would be, prepare at least three questions to ask your interviewer, and practice out loud your answers to all typical interview questions. Many are shocked to hear how differently their answers are when they speak out loud and not in their head so make sure you practice in front of a mirror or in front of a friend.
4. Take advantage of career services – Although many students are unaware, nearly every university has a career office dedicated to helping their students obtain jobs. Many undergraduate business programs have separate departments to focus on business related positions. Take the time to locate your career center and set up an appointment as soon as possible. Speak with advisors to learn more about lines of work, schedule interviews, and arrange for mock interviews in preparation for the real thing. Many firms have existing relationships with universities and will actively recruit and advertise job openings. Find out if your university has a specific site with job opportunities and scheduled informational sessions from various firms.
5. Be personable – Lastly I encourage everyone to be personable during their interviews. While several years ago most bright students would have their choice of firms, now many are lucky to have a single offer if any. When firms are cutting down on offers, they are forced to only hire the full packages. Being a knowledgeable, well-qualified student is no longer enough. Companies continue to emphasize the importance of cultural fits and will turn down the top qualified candidates if they do not have the personality to mesh with the firm. Be enthusiastic and memorable with your interviewers and try to connect on multiple levels. I found that my best interviews were those that we spent talking about sports or guitar as opposed to strictly the position at the firm.
Best of luck in all of your future interviews, and if you have any questions, please contact me at J.Zygelman@gmail.com
Article Source: Jonathan Zygelman, Goizueta Business School 2009
