Monday, 3 August 2009

Graduate employment in recession

Graduated and still unemployed? You're not the only one. With the current recession , many fresh graduates are finding it impossible to get jobs worldwide. In the U.S., Trina Thompson ,a graduate BBA in information technology claimed her college failed to support her after she completed her course.
The New York Post reported that after four months of fruitless job hunting, she decided to file legal action.
Trina, 27, wants all US$70,000 of her tuition fees repayed

According to Trina, the careers service in the university promised to provide her with advice and contacts before she began her course of study. They failed to keep their promise.

The claim was rejected by the university.
Read about it

In the United Kingdom today, a large percentage of Asian students doing their masters and phd's face a similar problem. They are allowed to work in order to pay their off their loans which were approved in India before travelling to the UK. Many cannot find work today and if they can find something, it's at the bottom of the employment barrel earning a minimum wage.

If you want to sue your university, you'll just be throwing more money away. While it might be commonplace to sue when something goes wrong, it might actually be a better idea to study the situation and follow the most practical route before enrolling and applying for a student loan.

The sad fact is that most of these students are painted a rosy picture by private recruiters in India before signing up, only to face the harsh reality of unemployment when they try to find work later. Many students in the UK today from China, Malaysia and other parts of asia are facing the same problems.

In the UK, about £8.5bn comes from foreign students.(source- asian lite,vol3,issue1, pg 12).

With the existing situation , would you want want to live overseas, away from home with a very slim chance of finding employment with a £12000 loan hanging over your head? It might be a better idea to try to shop around for the best education deals before committing yourself.
1) You will owe £12.000 at the end of your course.
2) You'll be lucky getting a menial job earning £150 a week (after tax) instead of the field you got your masters degree in, which would have given you £400-£500 a week.
Of course, your money's good enough for them but you're not good enough to do the job they awarded you the degree in.
Good Luck
With the current climate in England it might be a good idea to look at degree courses in Canada, Australia and the USA.

No comments:

Post a Comment