At Duke University, an expensive private school that sends many of its graduates to high-salary jobs in banking and finance on Wall Street in New York City, new graduates seeking those jobs are out of luck.
With the collapse of the banking and financial industry in fall 2008, thousands of Wall Street employees lost their jobs. As the recession that was in part fueled by Wall Street's collapse continues, Duke students who were hoping to be wealthy right out of college have to find other plans.
NewsHour correspondent Judy Woodruff, a graduate of Duke University, talks with graduating Duke students about how the recession is affecting their post-college career plans.
"Finance had become one of the most attractive fields to enter, even more than law or medicine. It was a magnet career for the best and the brightest." - Judy Woodruff
"My first taste of the money was sophomore year when I had the scholarship programs that gave us compensation. It was over time. It was a scholarship. It was like, 'Oh, my gosh, I'm rich.'" - Vanecie Delva, Duke student
"They're having to adjust to the fact that, however hard they've worked and however well they've done, there are any number of qualified students who would do great in these jobs, but the banks simply have fewer spaces for them." - Emma Rasiel, professor of economics
1. How do you define a "good" salary?
2. What factors will influence what you do for a living? Pay, lifestyle, public service, parental expectations, security?
1.What did you think about the students in this report and the predicament they face?
2. What else could these students do?
3. Why do you think some of these Duke students expected to work in Wall Street?
4. Do you think the Wall Street collapse will create long term changes in how students at elite universities plan for their careers? How might they change?