Washington Week: Student Voices (O)

Editorial: Despite economic crisis, savvy students can still succeed
By Editorial Board
The Hoya, Georgetown
November 18, 2008

There is no doubt that, for Georgetown seniors, this isn’t a good time to look for jobs. The economic collapse has destroyed several important financial institutions and scarred many others. The list of prospective employers has become shorter and shorter.

But don’t become discouraged, seniors. Although the end of this economic crisis is not in sight, now is the time to draw on those qualities that make for successful graduates: drive, creativity and a will to make a lasting impact on the world.

Commitment will be more important than ever. Struggling for internships and working in an intense academic environment has disciplined us to stay focused under pressure, and this is the time to demonstrate our fortitude. The future does look tough: According to the U.S. Bureau of Labor Statistics, the economy lost 240,000 non-farm jobs in October. Over the same period, the largest employers of Georgetown graduates — the professional and business services sector and the financial activities sector — suffered significant job losses, with more predicted losses on the way. The job hunt has become something of a marathon, as students submit countless résumés, hoping for success among limited job opportunities.

But there are crucial lessons to be learned from disappointment: In a 2005 commencement address at Stanford University, Steve Jobs described his own spotty and sometimes troubled career path. In 1984, Jobs was fired from Apple Inc., the company he had nurtured from its founding eight years before. It took this very public disappointment to make Jobs realize that he still loved what he was doing. He would eventually develop the animation studio Pixar, and later make a triumphant return to Apple as CEO.

The sort of persistence and creativity Jobs demonstrated are qualities that students can rely on. Be aware that, although all sectors of the economy are affected by the crisis in one way or another, many still thrive and students can cater their skills to these opportunities. In August and September, for instance, the number of jobs in the education and health services sectors actually increased. Government jobs dropped significantly in September, but rebounded in October. President-elect Obama himself has pointed out several sectors that will require expansion and talent in the future, including green jobs and next-generation Internet development. The U.S. Bureau of Labor Statistics predicts massive job growth in these areas.

Georgetown students have always worked to effect change around the globe, whether receiving monetary rewards for their efforts or not. Now is an opportune time to live out that sort of altruism following graduation. Organizations like the Peace Corps and Teach for America offer the most publicized ways of serving, but students can also check out the Government and Nonprofit Career Expo this coming February. Many of these programs also offer debt forgiveness for student loans — an extra incentive for students whose financial situations might present problems.

In the meantime, students should be encouraged to take advantage of the resources at Georgetown — our professors, the MBNA Career Education Center and scattered opportunities like the School of Nursing and Health Studies Healthcare Career Fair on Dec. 4 or each department’s online job opportunity listings.

In his address at Stanford, Jobs ended his speech saying, “Stay hungry. Stay foolish.” The same advice can apply to Georgetown students anxious about their futures. Stay passionate about what you are doing, but keep a sharp and resourceful eye on the economy and the opportunities that present themselves. More importantly, remain aware of the sectors that still have room for development in these difficult times. For those facing impending graduation, these options could make all the difference.

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