Grads look to mundane sectors as finance withers - The Business Journal of Milwaukee:

iqukikofor.wordpress.com
But Gosalia’s first job after graduating earlier thismonth won’t be at UBS or Fidelity Instead, he’s spending $385,000 in savingss and a loan from his parents to open a frozen-yogurft store near Symphony Hall in “The reason I wanted to go into this is because it’ss a really poor economy and there’s not a lot of job securityu right now,” said Gosalia, who hopes to open the state’s first Red Mango franchise this summer. Gosalia, 22, is not the only recent graduate pursuing an unexpected caree r path as the job market for studentxs specializing in areas of business hasrapidly contracted.
Officialws and students at Wellesley-basede Babson and Waltham-based , both schools specializingy in business, said many students are struggling to find and those who have found jobs are oftej finding them outsidethe once-dominant field of financial “It’s definitely a more difficult year for students,” said Len executive director of corporate relations at Bentley. When accounting for students with jobs or pursuingraduate degrees, Bentley’s placement ratex were 69 percent at graduation and 93 percent six months after graduation last This year, both rates will be below thoswe figures, Morrison said.
“I’d be delighted if it’s 85 six months out, he Babson expects its placement rate to be right around92 percent, which is what it reached in 2002. That’zs still below the 97 percent to 98percent it’z averaged in the years said Megan Houlker, director at the centere for career development at A former intern with New York-based Steeol Point Capital Partners LP, Gosalia said he’s attracted to the Red Mangok concept as a rare chance to work for But he also conceded the move is the result of a profounxd decline in financial sector jobs. Othed students are butting up against thesame wall, Morrisonh and Houlker said.
Houlker said one-thired of Babson graduates entered the sectof inprevious years. This year it will represeng about a quarter will entertthe sector. Many students are looking into less sexy areas of the suchas retail, defense and insurance, Morriso n said. Others are “leapfrogging” by acceptinh internships to better their Still more are heading back to graduate At Bentley the number of students entering graduatw school straight after finishing their undergraduate degreew has risen by20 percent, Morrison said.
That’s a move Aaron Hartman, a 21-year old recenyt graduate of Bentley, is trying to He had planned to go into the hospitalityt industry butwas “disheartened” by the lack of Now, Hartman is tryingb to find a job in the admissionsw office of a college. He’s also looking at part-timew jobs, like being a waiter, to pay his If he doesn’t find a job within a year, he’ll likely head to graduatse school. “I’m just trying to hold out as long as I he said.