News >> ................................................................Last updated: 3/22/2010 |
Exploring New Options: Careers that are sure to outsmart the declining economy
By: Ashika Karla ~ Editor-in-Chief
East Graduate LeeAnn Sangalang left high school with a vision of becoming a journalist.
Now she’s a junior at University of Illinois double majoring in psychology and communications. She plans to become a college professor after pursuing her masters and Ph.D at grad school – a future she never considered before.
Sangalang said, “After I entered college, I realized that the journalism industry was really dwindling, so I started exploring more practical options. Thankfully, college is a supportive place where I was able to do that.”
Her decision is not unusual. Nearly 80 percent of students ultimately change their career choices for various reasons including long-term earning potential, according to a report by msnbc.com.
“Every single one of my friends has switched majors, transferred schools or even changed their specialties. A lot of this is because college is such a different environment. You are definitely more aware of the world around you and the economy, especially if you need to pay for school,” Sangalang said.
This doesn’t mean students should stop pursuing their passions. The key is learning how to use those interests to craft a career that ensures success in the long run.
University of Illinois Assistant Career Consultant Ashley Rodriguez said, “I have never told someone not to do something they really enjoy, but we do help students follow their passions in a way that can set them up for a successful future.”
Status Quo: the economic reality
According to a survey conducted by Knowledge Networks of Harvard University, 45 percent of college students are concerned about their future financial stability, while 46 percent of those currently in the workforce are worried about loosing their jobs.
Certified Financial Planner Mike Frank of Frank Advisory Services Inc. in St. Charles agrees this is reason for concern. He said, “The economy is sluggish, there’s high unemployment. Especially this summer, kids will notice that a lot of jobs they’re applying for are now being taken by parents who need jobs because they are unemployed.”
Nonetheless, Frank says the economy may have already hit rock bottom and be en route for recovery.
“I would say it is starting to improve. I think we’ve already hit the worst point, and things are getting better, but some things will definitely never come back. For example, the auto industry is just completely different now. It won’t ever be the same.”
Because of the changing atmosphere, Frank urges students to ponder choices as early as possible, “You can see the world is changing. We all need to survive, so we have to be logical and think what we can and can’t compete with. Students these days really need to think ahead and look into the future so they can be successful.
Grad School: An economical alternative
As a result of Sangalang’s change in plans, she learned of many options available to students that she hadn’t known during high school.
“I think when you’re in school, you really only think about your four years in college and then automatically look toward a professional job. The reality is many people aren’t doing that anymore. Grad school is becoming a more attractive choice because people can gain the edge with a higher degree, and I think almost all schools, whether they are public or private, will fund your PhD.”
In addition, for those concerned about paying off additional undergraduate loans, in most cases, students pursuing higher degrees can defer their loans until they complete their education.
“Many programs even give small stipends sometimes around $20, 000 which isn’t a lot, but once you’re used to living on a college budget, you learn to survive. It’s better than nothing,” Sangalang adds.
Looking into the future: job market outlook
Though the job market looks rather glum right now, Paula Kosin Licensed Professional Counselor Licensed Professional Counselor of Career Vision, a higher education and career counseling service based in Glen Ellyn, points out that with careful planning it is still possible to be financially secure.
Kosin said, “Sometimes we may suffer in a ‘V-Shaped’ economy where there is a definite down point but then a sudden rise upwards. Right now, at least according to many of the economists, we are in a ‘U-Shaped’ economy meaning that we’re slowly getting out of that downward slump.”
Therefore, even though unemployment may continue to remain high for some time, Kosin asserts that certain fields have a greater potential for long term success than others.
“The energy industry including not only oil and gas but also alternative resources will definitely not go away. Jobs within this field are often labeled as the ‘green careers’ because of the whole environmentally safe movement. This seems to be one of the trends students seem to be excited about these days, and there’s a lot of scope for it in the near future.”
Furthermore, the state Occupational Outlook Handbook, a comprehensive resource by the Department of Employment Security including information on the outlook of different jobs, states that scientific research and engineering fields are expected to increase at least through 2014.
In July 2009, CNN reported that the top 15 highest earning degrees were associated with engineering and technology. Among those, petroleum engineers were in greatest demand, raking in an over $83,000 salary at the entry level.
Kosin also pointed out that there are many employment opportunities available in the public services area – a field that hasn’t been too popular lately. “Right now, there are over a quarter million positions that are available and have been labeled as ‘mission critical.’ This doesn’t even include the typical clerical jobs.”
According to makingthedifference.org, a national website including profiles of careers available in the federal workforce, the 270,000 mission critical jobs currently available must be filled during the next two years. These jobs are considered “essential obligations to the American people.”
It is not necessary to obtain a degree in political science to work for the federal government. There are jobs available in virtually every field from Foreign Service security officers to zoologists.
“Jobs in federal government, particularly those relating to homeland security, corporate security, and even home security are also slated to grow tremendously,” Kosin said.
In addition, despite the current state budget crisis resulting in thousands of teacher layoffs statewide, Kosin says that there is expected to be long term growth in the education field.
“Yes we are facing a crisis right now, and I think with the state of our economy, nobody is happy. Even with this all happening, there is expected to be overall growth in the field. There is always a demand for math, science, and special-ed teachers. On the other hand, the general elementary education teachers may face some more difficulty finding job opportunities,” Kosin said.
The Occupational Outlook Handbook even reports that employment in education is actually expected to increase at a rate greater than the average for all other occupations up until 2014. This may be because children of baby boomers will continue to reach the college age resulting in a greater demand for teachers and professors.
Kosin says a critical part of the career selection phase is having some sort of goal in mind. “Career planning is like planning a vacation. You need to be prepared and packed. You also have to think are you going to be skiing or laying out on the beach so you can be set once you arrive at your vacation spot. In the same way, if you don’t have any idea of where you’re going with your life at this point, that’s probably not a good spot to be in because time flies quickly.”
Most importantly, it is essential to remain hopeful in spite of the economic downturns citizens face. Frank said, “The most important thing to remember is that we need to be optimistic. If you guys keep working hard, we can achieve anything. That’s what America was founded on in the first place so we just need to keep living by that philosophy.
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