Maybe It's Good I'm Not Graduating Yet

This past week MSNBC published an article from Business Week on their website. The article, "For MBA Grads, It's the Worst Hiring Season Ever," talks about the rough job market right now. There were some interesting figures brought up. For example:

-"16.5 percent of job-seeking students from the top 30 MBA programs did not get even one offer by

the time schools collected their final fall employment data three months after graduation."

-Starting pay for students graduating from one of the top 30 business schools was down about

$1,500. This is the first time starting pay has dropped in several years.

This is just a small sample of the challenges facing students as they graduate and enter the business world. Keep in mind that these statistics are for students graduating from the top 30 business schools in America. There are still more MBA graduates who are facing these challenges. The financial meltdown has really been a driving factor in the tough job market. Historically, financial institutions and firms were the main companies employing MBA grads. With the financial problems of this recession that job avenue has closed for many grads. Basically the job market right now is even more competitive than normal.

On the bright side, the economy is showing signs of improvement. Sunday Morning on NBC's Meet the Press, Timothy Geithner, U.S. Treasury Secretary, talked about the current state of the U.S. economy. "He acknowledged that the economic recovery, while showing positive movement, has been shaky and uneven" (Geithner: Economy Rebounding, But Job Growth Lags). Hopefully the economy will continue to recover and show greater growth. Job creation usually lags behind the recovery of the general economy as businesses continue to recover. However, continued economic growth can only mean greater job opportunities for students graduating later on.

Source: For MBA Grads, It's the Worst Hiring Season Ever