Sacramento Bee: Job offers dwindle for MBA and law school grads

[marmar]

Job offers dwindle for MBA and law school grads

By Darrell Smith
[e-mail]

Published: Monday, Mar. 8, 2010 - 12:00 am | Page 1A


Nelson Chiu shook hands with the PepsiCo representative, exchanged a few brief words and received a parting "good luck."

He was dressed in a crisp, dark blue pinstripe suit on a recent Wednesday, and his voice was starting to fade; he'd been at a career fair inside the University of California, Davis, field house since 11 a.m., talked to more than a dozen companies, and it was closing in on 2 p.m. on the afternoon of his daughter's first birthday.

For Chiu, who earned his MBA in 2009 from UC Davis' highly regarded Graduate School of Management, a solid lead would have been a great gift.

For years, someone like Chiu with a newly minted degree from a top-flight business or law school had the closest thing to a golden ticket for a high-paying job. But the ongoing recession has brought graduates – many staggering under mountains of student loan debt – face to face with a new economic reality. ..........(more)

The complete piece is at: http://www.sacbee.com/2010/03/08/2590039/job-offers-dwindle-for-mba-and.html#storylink=omni_popular


.........

And a good reader comment that followed the story:

“Every horse on the farm cannot be a race horse some have to pull the plow. We have a lot of people walking around with advanced degrees but no positions for the. We have a shortage of skilled workers who want to work at the hard jobs,get their hands dirty and produce. We have a glut of people who want to have an office job, their own parking spot, carry a briefcase and look important.That is why a plumber can name his fee if he is any good. same with auto mechanics if they are any good. We need people who can do things instead of people who look like they are Rhodes Scholars. It is sad these people were led to believe if they spent their money and time getting these degrees they would get the big job.Again the best and brightest ripped them off.”

-- Dukeofhighpoint

[FarCenter]

1. Student loan programs are a great disservice to students

Law school students borrow an average of more than $80,000 for a private school, more than $54,000 for a public school, according to the NALP, though executive director Leipold said "the averages mask the highs."

At the most expensive schools, the average borrowed "is well over $100,000. Some owe $200,000," he said.

At UC Davis, a 2009 law grad's average debt load was about $73,000, officials said; an average Davis MBA graduate owed $41,000.

---

They allowed the colleges and universities to increase tuition to the point where it is no longer possible to work your way through college or to make it on family funds and scholarships.

[rfranklin]

2. "Get their hands dirty and produce?" When everyone becomes a plumber....

then plumbing jobs will pay $8.00 per hour. And I don't know many auto mechanics who can "name his fee." That post is just stupid.

[Canuckistanian]

3. Maybe this speaks to the lack of jobs in general

Maybe there are NO "safe career paths" any more. Maybe you need to be CONNECTED to get a decent "white collar" job these days.

[tularetom]

4. We have plumbers going out of business because there is no work for them

There is virtually no new construction or remodeling going on these days, and the only thing anybody needs a plumber for is a leak or a stopped up drain. That can be handled with at most half the plumbers now in business.

And you can forget about auto mechanics. Nobody has the money to have their car repaired. If it isn't an emergency they'll just keep driving them.

The point is there's no work for anybody, with whatever color collar, blue, white or none at all. Why do you think the armed forces are having no trouble attracting recruits despite being involved in two idiotic wars?

The reader who made that comment is an idiot.

[enid602]

5. Phoenix

I live in Phoenix, and the loss of construction jobs (as well as plumbers, electricians, etc) has been devastating. I heard on the radio the other day that NO new condos or townhomes will be built in the Phoenix metro area for at least four years. The cost of overbuilding.

[slampoet]

6. Maybe the MBA's can go Start a damn business then.