Facing an economic recession and a tight post-9/11 job market, graduating seniors are having a rough time finding post-graduate employment for next year. According to a nationwide survey of 237 employers conducted by the National Association of Colleges and Employers, as reported by CNN, the hiring of new college graduates stands to decrease by 20 percent. CNN also reports that "the national unemployment rate for those between the ages of 20 and 24 was 9.6 percent in December, up from 6.9 percent" last year.
Given the dim job outlook, more graduating seniors and recent grads have opted to hunker down and weather the storm in graduate school - and the volume of graduate school applications is booming. A Jan. 24 New York Times article cited application increases of up to 50 to 70 percent at top business, law, and doctorate programs. According to the Graduate Management Admissions Council, the number of students taking the GMAT for business school increased by 12 percent from 2000 to 2001.
Tufts' graduating seniors are acutely aware of the current economic situation. Even if their post-graduation plans haven't changed, they realize that they are vulnerable to tougher admissions competition at graduate schools.
"I was going to apply to law school anyway," said senior Beth Rotenberg, an International Relations and Spanish double major. "So I wouldn't say the economy affected my plans directly, although I do look at the state of the economy now and I'm glad I'm set on what I want to do."
Rotenberg adds that the recession and the resulting surge in applications made her consider the competition. "There really are a lot more people applying this year, so I was advised to apply to as many schools as I could afford to... I'm glad I applied to as many as I did," Rotenberg said. She has already been accepted at several schools.
Senior Kevin Welsh, a Spanish and Environmental Studies double major, has also been admitted to law school. He echoed Rotenberg's appraisal.
"The fact that there's more applicants definitely didn't help, but the economy didn't affect my plans," he said.
According to senior class dean and pre-law advisor Jean Dillon, students have to prepare well in advance of their senior year in order to apply to schools, which can reduce the impact the recent economy and the post-9/11 job shortage can have on such students.
"Most seniors entering law school have been talking to me since their junior year - scheduling the LSAT, arranging their schedules," Dillon said. "Basically these students had prepared beforehand, so it's doubtful that something like 9/11 could influence them too much."
Dillon does say that the increase in applications has made it difficult to forecast students' admissions prospects as in years past. "For the first time I'm telling kids I really have no idea what their chances are at schools like BC and NYU because applications are up so much."
But Dillon attributes much of the application boom to dwindling job opportunities.
"I'm hearing things like, 'I lost my job and I'd been thinking about law school' more often this year, definitely," she said.
Graduate schools welcome the increase in applications, partly because schools appear more selective with such a large applicant pool. Rather than expand class sizes, adds Dillon, law schools are maintaining enrollment levels or even scaling them back.
Daunting as the situation may seem for applicants, some seniors see graduate school as a prerequisite for their field of interest.
"I definitely need grad school to do what I want to do," senior Marjorie Scheker said. Scheker is a Spanish major who plans to study music entertainment management. She also hears from graduates how difficult it can be to find work. "I have friends who've been looking for months; it's kind of scary."
Jean Papalia, Director of Career Services, says she has noticed effects of the weakened economy on seniors and their plans for after graduation.
"Seniors are appropriately concerned about the job market," Papalia said, citing an increase in the number of students who are applying to graduate school and job-hunting at the same time. "They want to ensure that they're doing something meaningful next year. By generating options, they feel that they are 'protecting' their interests and taking control of their futures in an uncertain economy."
