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WEB EXCLUSIVE: You're Hired! |
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College grads ‘sitting pretty’ in slowed economy
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| Corridor Inc. Staff Writer
Originally published May 2008
 Davis Thummalatalli, a Montgomery College student, works part time as a customer service representative at Chevy Chase bank in Bethesda. Photo by Lisa Helfert.
“This is preparing me for when I graduate,” he said. “The performance I show here I hope will land me a full time job here when I graduate.”
Over the last year Chevy Chase Bank has hired more than 100 Montgomery College students to help fill its new branches with skilled workers.
“We really have a need for more full- and part-time positions at our branches and felt the kind of people we were looking for could be on the college campus,” said Rus McNish, senior vice president of human resources at Chevy Chase Bank. “It’s a tight market but we are seeing a few more applications this year and we’re jumping to hire quickly.”
Despite the state of the economy, employers in the Baltimore-Washington Corridor have not changed their plans for new hires ranging from college graduates to seasoned veterans. But officials say that may all be different in six months as more companies are forced to scale back their hiring and seek entry-level workers in an effort to save money.
That's good news for college students who will benefit from the downturn as they enter the workforce.
“I think employers learned after the 2001 downturn that not cutting back on college graduates was a good thing,” said John A. Challenger, CEO of Challenger, Gray & Christmas, an outplacement consulting firm. “Employers know each new class comes in with new skills and energy and they are the future pipeline of leaders so college graduates are holding up as the good option for companies.”
Salary negotiations will become deciding factors, added Sue Shaw, operations manager at Hutch Staffing Inc., a College Park staffing company.
“Employers are looking for the lowest price right now,” she said. “If a seasoned employee is willing to take a lower salary — which isn’t likely — they’ve got the job. Price is everything.”
Some companies have no plans to change their hiring practices through the year. For example, Northrop Grumman Corp. plans to fill 500 jobs in Maryland at its Electronic Systems sector this year.
“We’re hiring at about the same pace as last year and we are looking at all levels,” said Rebecca Heiliczer, director of recruiting and staffing for the Electronic Systems Sector. “We haven’t seen any impact from the economy and we don’t expect to change our hiring practices this year.”
Peter Morici, an economist and professor at the Robert H. Smith School of Business, sees tough times head.
“The economy has slowed down some but college graduates are sitting pretty,” he said. “I’d encourage graduates to start looking for a job early and often.”
Job fairs, held at local colleges, are a strong indicator that the job market is going strong, said Eric Myren, director of student employment services at Montgomery College.
In April, Montgomery College held two job fairs and had 61 employers register, which is about the same as last year’s participation.
The college’s electronic job placement program, which allows employers to search student resumes, had 899 employers register to post a job or look at student resumes last year. As of mid-March this year 1,031 new employers had gone onto the system to register, said Myren.
“The trend over the last few years and still now has been that employers want to come earlier and often to campus to reach students,” said Christine LaCola, assistant dean of career management, recruitment and business development at the Robert H. Smith School of Business. “Every organization has a need for entry-level hires and smaller firms are more agile in this economy and can make a change on a dime compared to the big guys.”
At the University of Maryland, Baltimore County April job fair, employers were lined up to get in, said Anne Scholl-Fiedler, career services director.
“Things may be tight but it doesn’t change the competitiveness and employers were on waiting lists for our job fairs,” she said. “The students’ job is to convey their strengths and professionalism because employers don’t want just a warm body.”
The biggest challenge for college graduates is finding where their skills best fit, said Scholl-Fiedler.
“Finding the job that’s right for them that will chart the right path is what I see students struggling with,” she said. “It’s the thought of when I get out of here will I find a job that pays the salary I need it to pay for student loans, cost of living and future life goals – that’s the big question.” |
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