ECONOMY DOWNTURN: JOB OPPORTUNITIES FOR STUDENTS GRADUATING OUT

There are a number of academic institutions which have called me recently to address students on the above subject. Students are confused, faculty is more so. Media as usual is after exciting news – most of them unrealistic or dramatic. Also macro data do not help individual situations. If sensex is falling down it does not mean that we are all finished. If there is an outsourcing problem from the USA (either Obama policy or meltdown) it does not mean all Indian IT companies have to close their shops !

However, one thing is sure: it is no longer business as usual. Job markets are not the same, any more at least for a couple of years to come (upto 2010 or 2011). There is no longer 30 – 40% attitution rate, allowing for a great turnover.

This huge turn over created lots of vacancies in most Services sector companies and HR departments of companies were in continuous search for new recruits. That is why, many IT companies were offering appointments to B.Tech students at the 5th Semester itself ! (i.e. 1 & half year before they finish their 4 years course through the companies publicly keep on telling that “quality” of our students is not good – only 15% are employable etc!! the fact of the matter was that they desperately needed youngsters who can operate computers and who can work even 12 hours.) Now the US slow down has affected IT companies who mostly depended on US contracts. Their domestic business was very low; these tasks were mostly left to small Indian companies.

IT hiring slow down affects auto industry as they have less number of persons who take “auto loan”…. Financial sector, which had created a “huge bubble” in USA and in the globe, is in great trouble. All those banks which were praised as the “great wealth generators” are closed or insolvent or waiting for govt. bail out….

Let us leave all these causal factors and look at viable opportunities for those who do B.Tech, B.Pharma, MBA, MCA etc and in the last semester to enter into a job.

Realities:

1. Number of companies which will come for campus recruitments may fall down.
2. Since the number of persons to be recruited has drastically come down, HR department will place new high standards. When supply is more and demand is less, those who purchase tend to be very difficult. This is simple law of economics !! You will experience it when you go to a vegetable market or cloth shop ! Law of demand & supply is same !!
3. Therefore, the amount of salary you can expect will go down.

Opportunities:

1. Therefore you have to think “out of box”. Life is not just BPO, or IT or Financial sector. Let us look other opportunities.
2. There are huge number of colleges and Universities of professional colleges, which have huge shortage of teaching staff. For you, it will be at lecturer level or tutor. Salary may be low. But you are in a respectable job. You can use this as an opportunity to learn more and increase your knowledge. You can register for higher studies. M.Tech etc (for MBA, Ph.D). Most colleges will facilitate part-time studies (may be with a bond) as they need higher qualified teachers. Also you, as a younger generation, can bring in new techniques, e-learning, use of computer based new contents etc. That will attract students and also help the College/University. Also you learn. After a couple of years, if you like this career you continue; even go abroad - there are many countries which need young faculty (including in West Asia).
3. In the financial sector forget the usual investment/stocks etc. Learn banking security. Also how the banks can track terrorists/crime networks. You can’t be expert. But if you show some capability, then you can grow up. In this “terrorism” prone world, lots of auto-terrorism controls, analysis etc. will be required. This could be your career.
4. Think in terms of local e-governance in villages, panchayats, towns, etc. Indian Govt. may pump up money for this to “support” It companies.
5. Though “speculative” real-estate sector may suffer, there will be a number of small scale constructions. Also public sector roads, gear up for it. Also huge airports.
6. There will be a new attention towards agro-processing sectors, as Govt. will try to increase jobs in rural areas.
7. There will be lots of new openings in anti-terrorism activities: right from telecom tapping, to cyber security to straight forward physical security. Those who have courage can join. This will be new opening in Govt. and private sector. Your chances are going up the ladder are also high as they are new openings.
8. Rest of it are: health sector, retail……. etc. The usual ones with lower intake. Also media !

Don’t foreclose your options.

Also keep trying abroad.

General:

Don’t duck any good work…..Don’t be too finicky…. Be in a job….Keep looking other opportunities. In this world those who have professional qualifications are required in most places.

Use the opportunities. BUT YOU HAVE TO PREPARE YOURSELVES BEFORE JOB SEARCH, BY READING, SPEAKING TO KNOWLEDGEABLE PERSONS, MAKING GOOGLE, YAHOO SEARCHES etc.

Next two years are going to be little tough. But use it as an opportunity to learn new skills, languages, etc. It will make you tough and strong.

Also see the extract from my book “Choosing Career Paths” – how to prepare for a job (in this web).

Y S Rajan