Graduating seniors face tightened job market

Believing that no jobs are available for them, nearly half a million Americans have given up looking for work, according to the U.S. Department of Labor -- and now with graduation looming, some of Penn's seniors are fighting a similar despair despite their Ivy League resumes. "It's certainly not a good market," a Career Services counselor said of the national hiring slump, which The New York Times called the worst in two decades. "I think our students are doing about as well as can be expected." According to Career Services, the hardest hit industry has been consulting -- the second most popular career choice for graduates of the Wharton School and a top choice for graduates of the College and School of Engineering and Applied Science. As companies from brokerage firms to fast-food chains slash their hiring budgets, many students simply continue going to school. Applications to graduate schools, especially law schools, have skyrocketed, according to Career Services. "I'm not on the job market," College senior Ryan Schmidt said. Already accepted into an M.D./Ph.D. program, Schmidt doesn't believe that things are all that bad. "I've seen people having hard times, but I haven't seen anyone say 'because it's so bad, I'm definitely going to graduate school,'" he said. Some students, however, are more willing to pound the pavement than stay in school. "I don't have plans to go to grad school at this time," Engineering senior Theodore Paulakis said. "I'll keep on looking until I find something." A computer science major, Paulakis hasn't found anything yet. "The interviews themselves tend to be very harsh, and getting them to begin with can be difficult," Paulakis said, noting that "most full-time employers have found their new recruits for this year." While Wharton senior Amal Dave admitted that "it was tough getting a job," he "can't complain" now that he has accepted an offer in commercial banking. "The best way to describe it is how Career Services does -- students get one [job offer] if they're lucky, fewer than one if they're not." Meanwhile, national shortages of qualified nurses and teachers have made job-hunting relatively pleasant for those in the right school at the right time. "I've had a lot of job offers," Nursing senior Sara Mylett said. "Everywhere I've been applying, there have been sign-up bonuses," she continued. "They've been really good about recruiting nurses." Career Services has worked with alumni relations, encouraging Penn parents and alumni to hire University students "for internships and permanent positions." "Our students are very strong, they're enterprising, they haven't been whining," a Career Services official said. "They're doing what they need to do."

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