Hot jobs in finance turn suddenly cold
For Armando Vela Jr., it's not a matter of landing a job. It's a matter of which job to chase.
In one year, the former hydraulic repairman will have a bachelor's degree in mechanical engineering from Purdue University Calumet. And, as far as he can tell, he can write his own ticket.
"I'm finding jobs pulling at me left and right," he said last week at a manufacturing industry job fair at the college. "The professors told us there's such a demand, if you go to a job fair, you can walk out with a job."
Vela, 35, happens to be in a field where demand remains strong, despite the uneven economy.
Overall starting wages for mechanical engineering grads will be up 3.4 percent this year, with an average salary offer of $56,429, according to the National Association of Colleges and Employers.
For many other college grads looking for a job at this time of year, the prospects are not as sweet.
After forecasting in the fall that hiring for the class of 2008 would increase a robust 16 percent over the previous year, the National Association of Colleges and Employers revised its forecast to 8 percent last month.
And for some sectors hard hit by the economic slowdown, the association is forecasting a decline in hiring, according to association spokesman Edwin Koc. That's true for jobs in finance, which will be down 7 percent, and construction management, which will be down 2 percent.
The association's forecast is based on the spring update of its annual jobs outlook survey. It is in some ways a lagging indicator, Koc notes.
For example, much of the healthy 8 percent boost in hiring already is accounted for by offers employers made as long ago as last fall, Koc said. Hiring of students who still do not have jobs could be much weaker.
"The word recession is a scary word for everyone," said Sandy McGuigan, career center director at Valparaiso University. "So caution is the word I think of when I think of this market."
It's safe to say students do not have as many choices this year, except in fields where there is a definite shortage in the workplace, McGuigan said.
But even for those with degrees for which demand is weak, there will be jobs for prospects who can sell themselves.
"Some people look at a liberal arts degree as a curse," said Shelly Robinson, director of career services at Purdue University Calumet. "But others look at it as a blessing that will open up all types of possibilities."
Robinson and other college career center directors have plenty of advice for soon-to-be grads who do land a job interview, especially for those whose degrees might not be the hottest thing going.
"The candidate will have to be capable in describing their experience and what they can bring to the employer," McGuigan said.
And don't forget that who you know can be just as important as what you know.
"Networking is still a very effective way to find a job," said Stacie Jeffirs, director of the Center for Career Opportunities at St. Mary College, in South Bend. "In fact, it's the way most people find a job, especially in a rough market like this."
Posted in Local on Sunday, April 13, 2008 12:00 am Updated: 1:03 am.
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