College grads enter flooded job market

SAN FRANCISCO–The job market for recent college graduates

is as brutal as it has been in two decades, but industries poised

to capitalize on the aging population and the uncertainty facing

the nation still offer ample opportunity.

In a survey conducted by the National Association of Colleges

and Employers, companies expect to hire 3.6 percent fewer graduates

than they did a year earlier.

“It’s going to be very tough out there this

year,” said John Challenger, chief executive of outplacement

firm Challenger, Gray & Christmas. “There are lots of

rejection notices out there.”

An estimated 1.3 million college graduates are due to hit the

pavement this spring in an attempt to join a U.S. workforce that

numbers about 135 million.

But with turnover rates highest at entry-level positions, the

jobs are certainly there, Challenger said. Knowing where to look is

the key.

Here are the strongest professions job experts say are worth

considering right out of college:

Healthcare: Aging baby boomers should provide plenty of

opportunity for caregivers like pharmacists, physical therapists,

audiologists, etc. There are currently 126,000 open nursing

positions, according to report by HotJobs.com, while many

currently-employed nurses are nearing retirement age.

Insurance: The greater the uncertainty, the greater the

need for insurance. Agents, adjusters, researchers and many more

positions should stay in demand. Average salaries range from nearly

$20,000 up to almost $85,000.

Biotechnology/Drugs: As baby boomers move deeper into

their golden years, the demand for prescriptions drugs will pick

up. Challenger also expects opportunities to grow as more money is

dedicated to gene research. Affymetrix and Applera are examples of

two companies on the forefront of genomics.

Financial services: Financial planners stand to gain from

investors looking to forego their company-sponsored 401k and take

control of their own savings. Additionally, mortgage brokers should

continue to cash in on record low interest rates and the nesting

effect.

Education: Another sector that stands to flourish as more

and more people prepare to exit the workforce. “There are a

lot of educators approaching their retirement dates,” said

Christopher Jones, vice president of content at HotJobs.com.

Energy: With the Iraq and the Middle East in turmoil, the

need for alternative energy sources has never been more apparent.

Not only will there be an increasing demand for research and

development, but workers will be needed in marketing, sales,

accounting, etc.

Technology: While job availability in the high-tech arena

is scarce relative to previous years, pockets of strength still

remain.

“Technology is immense,” said Jones. “In fact,

there are some others where we’ve seen only growth, like

security specialists, for instance.”

With the proliferation of hacked databases and the need to

protect their information, this job title should stay popular for a

while.

Some of the leaders in this field include Network Associates,

RSA Security and Symantec.

There are also opportunities in software sales, according to

Edwin Pollock, regional president at job placement firm Bernard

Haldane Associates.

“Sales is probably the biggest opening we’re seeing

right now,” he said. “Of course, many of these

companies are still laying off lots of high-salaried people from

the dot-com revolution.”

Pollock suggested job seekers look to viable companies that have

reduced their workforce considerably, as they would be the most

likely to replace workers “at a more reasonable

compensation.”

Finally, Pollock offered this bit of advice should the search

come to a grinding halt: “Go to the company you want to work

for and volunteer to work for nothing, offer your services as an

intern or whatever you want to call it.”

“If you’re good, the company will find a spot for

you.”

Shawn Langlois, CBS MarketWatch

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