Graduating in a recession - Queen Mary Careers


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This presentation by careers advisers from Queen Mary, University of London, outlines the situation for 2009 graduates looking for work in the recession. Includes tips for jobseekers - sectors to target and strategies to improve your employability.

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  • Lots of stats quoted from AGR survey – got lots of member orgs and Twenty thousand or so of almost half a million HE leavers get jobs on schemes covered by the survey.
  • Graduating in a recession - Queen Mary Careers

    1. 1. Strategies for graduating in a recession QM Careers March 2009 With thanks to UCL Careers for some of the content
    2. 2. <ul><li>The current situation </li></ul><ul><li>What does it mean for you? </li></ul><ul><li>Strategies 1-6 </li></ul>
    3. 3. What’s your view? What do you know about the recession? Where did you get this information? What are your own concerns?
    4. 4. ‘ Panic on campus – worst year to graduate in 20 years’ BBC, December 2008 ‘ Downturn hits financial sector with 47% fewer graduate jobs’ Guardian, February 2009 ‘ Big companies target elite universities as they cut back on recruitment’ Telegraph, February 2009 ‘ Stack shelves and work behind a bar advises AGR’ Daily Mail, February 2009 &quot;30,000 jobs for 300,000 graduates&quot; BBC March 2009 The Headlines you’ve seen
    5. 5. The headlines you haven’t… ‘ 5.4% decrease in recruitment AGR ‘ only 15% of graduate vacancies are places on graduate trainee schemes’ Simon Dixon, Benedix ‘ 3% increase of graduate jobs in the public sector in 2009’ Sky adds 1000 jobs, 25K additional jobs in FMCG BBC, Recession Tracker (online) The 3 universities most often targeted by the larger employers are Manchester, London and Warwick Times, February 2009
    6. 6. Where are the jobs? <ul><li>“ I cannot see much contraction in some of the established professional areas such as accountancy, law and teaching. Energy firms should continue to be attractive prospects along with businesses involved in transport and the environment. Technologists should have little to fear in the current climate.” </li></ul><ul><li>Carl Gilleard , chief executive of the Association of Graduate Recruiters </li></ul>
    7. 7. What about the City? <ul><li>15-25% reduction in grad schemes at these firms </li></ul><ul><li>Only 5% reduction for internships </li></ul><ul><li>Still unfilled positions! </li></ul><ul><li>Banks will continue recruiting </li></ul><ul><li>Ignore the ‘bulge bracket’ & go for ‘mid-caps’ </li></ul><ul><li>Source UCL Panel discussion with panellists from UBS, JP </li></ul><ul><li>Morgan, Citi, Nomura International, Credit Suisse </li></ul>
    8. 8. Remember… <ul><li>Those who graduated in the last recession have successful careers </li></ul><ul><li>Case Studies … </li></ul>
    9. 9. Case Study 1: 90s recession <ul><li>No internship / work experience </li></ul><ul><li>Multiple applications rejected </li></ul><ul><li>Plan B: MA in International Business </li></ul><ul><li>Research Assistant in boutique Hedge Fund </li></ul><ul><li>10 year career as a city trader </li></ul><ul><li>Set up Benedix </li></ul>
    10. 10. Case Study 2: 2001 recession <ul><li>International Student </li></ul><ul><li>Volunteering experience </li></ul><ul><li>Participated in Case Study at University </li></ul><ul><li>Graduate trainee pulled out </li></ul><ul><li>Got first big break at Saatchi & Saatchi </li></ul><ul><li>Now EU Marketing for large FMCG </li></ul>
    11. 11. What’s your response? <ul><li>ACTIVELY looking for a job/ internship </li></ul><ul><li>Concentrating on my exams </li></ul><ul><li>Considering postgraduate course </li></ul><ul><li>Not really sure </li></ul><ul><li>Don’t want to think about </li></ul>
    12. 12. Strategy no. 1 <ul><li>Think from the </li></ul><ul><li>recruiters’ point of </li></ul><ul><li>view </li></ul><ul><ul><li>Reducing cost of </li></ul></ul><ul><ul><li>recruitment </li></ul></ul><ul><ul><li>Achieving “best fit” to minimise risk you’ll leave </li></ul></ul><ul><ul><li>Talent not numbers </li></ul></ul>
    13. 13. Employers still predict shortfalls in soft skills
    14. 14. Employers still predict shortfalls in hard skills
    15. 15. <ul><li>“ The recession is unlikely to change the need for skills and so people with skills - graduates included - will be in a much better position than those without.” </li></ul><ul><li>Jonathan Wadsworth Centre for Economic Performance, LSE, Jan 2009 </li></ul>
    16. 16. Build your skills… <ul><li> </li></ul><ul><li>QMSU – societies </li></ul><ul><li>Part-time work </li></ul><ul><li>Course opportunities </li></ul><ul><li>Skills audit </li></ul>
    17. 17. Strategy No. 2 <ul><li>Be commercially aware </li></ul><ul><ul><ul><li>Which industries or organisations will do best out of the recession? </li></ul></ul></ul><ul><ul><ul><li>Research!!! </li></ul></ul></ul><ul><ul><ul><ul><li>- Read a decent paper (for your chosen sector or the business or finance pages) </li></ul></ul></ul></ul><ul><ul><ul><li>- Read the executive summary of organisation’s </li></ul></ul></ul><ul><ul><ul><li>annual report </li></ul></ul></ul>
    18. 18. Strategy No. 3 <ul><li>Think laterally </li></ul><ul><li> </li></ul>
    19. 19. Strategy No. 4 <ul><li>Be flexible! </li></ul><ul><ul><li>&quot;Students need to approach the end of their time at university with a much more flexible approach. Graduates are lowering their sights in the first instance. Almost any work is better than not working at all. If you graduate in 2009 and don't get your perfect job you might do better in 2010 if you use your time properly in between.&quot; Chief Exec, AGR </li></ul></ul>
    20. 20. Strategy No. 5 <ul><li>Use different methods to find jobs </li></ul><ul><li>Make the most of your contact network </li></ul><ul><li>More speculative applications </li></ul><ul><li>Use LinkedIn </li></ul>
    21. 21.
    22. 22. Strategy No. 6 <ul><li>Be resilient </li></ul><ul><li>Be an expert </li></ul>
    23. 23. Strategy No. 7 <ul><li>Use Careers </li></ul><ul><li>Sign up for Careers events </li></ul><ul><li> </li></ul><ul><li> </li></ul><ul><li> </li></ul>