Yesterday, I wrote about the tough job market for recent college graduates. Well, let’s go one step worse: How would you like to be the proud owner of a new M.B.A., one that cost you loads of money to earn, only to enter the job market when the big financial firms are going through what may be their worst crisis?
This story in the Wall Street Journal’s CareerJournal Web site, focuses on recent M.B.A.s who are now rethinking the careers in investment banking they had been planning on.
Of course, the M.B.A.s aren’t alone in re-thinking their career plans. I write often about real estate issues, and that industry is taking a hit that’s at least as big as the one the big-finance companies are suffering. Because of this, several people who once saw real estate as the ideal career, one that they could work part-time and still make solid money, are reconsidering. The membership of the National Assocaition of Realtors now stands at more than 1.24 million members. That’s a lot, but in November of 2006, that membership stood at more than 1.35 million. It’s been dropping since.
This really isn’t that unusual, though. Workers have had to adapt to changing times since the concept of work was invented. Think of how our parents had to adapt to the introduction of computers. How we’ve had to adapt to the growing use of the Internet. Today’s job seekers have the tough challenge of adapting to an economy that may be changing from one based on credit to one based on actual, real cash.
Like I said, change is inevitable in the work world. Those workers who accept this and constantly brush up on their work skills will thrive.