Graduating to nowhere

If statistics are to be believed about 70% of the Engineers and MBAs of the class of 2011 is still looking for a job. Now about a million kids of 2012 will be added to this pile of ‘Qualified Job Seekers’.

Well truth be told most of them will graduate and continue to depend on their parents for lodging and boarding. Not that they are to be blamed for what is happening in the economy, but their choice to do an MBA itself was some kind of escapism from the ‘need to look for a job’. This then followed up with attitude:

“This  job I am being to do can be done by an ordinary BCOM said a girl who is now doing clerical work in a bank, under the guise of a fancy designation of ‘Assistant Manager’.

Here is a summary of what fresh MBAs should be avoid thinking of while starting their career:

1. “My learning is over”:
Sorry kids your education is a great start of your learning, not the end. Life is a long process of learning, so please continue.

2. “This Job is too low”:
When you have a student loan (even if your dad paid for it, well it is a loan from him) and you have to pay for food and lodging you cannot be too choosy. The market is cruel, and fresh jobs are not being created everyday.

3. “I have spent Rs. 10 Lakhs on my MBA, So….”: 
I got the resume  of a kid who spent Rs. 10 lakh on a very highly (over) advertised MBA. His best job offer was for Rs. 1 lakh per annum. Sorry no IRR calculator will work…but do not be choosy. Choose AFTER you have a job.

4. “I network on Facebook”
– no comments.

5. “My parents, teachers, etc. cannot help”:
Wrong! The more the people in a job hunt, the better off you are, so use their help.
Also, do remember if you are graduating from UK or an US university the situation is much worse than this.

The author P V Subramanyam is a Chartered Accountant by qualification and a financial trainer by profession. Writing being a passion he also regularly pens his thought in his blogSubramoney.com