The job report came out today and it showed that job losses were at the worst level in 5 years. Obviously this is terrible news for all of us 63,000 jobs were lost in February. For professionals who will be looking for new opportunities soon this is bad news. But is it bad news for everyone? Professionals have skills and expertise that allow them to command high salaries. However in an economic pull back their high salaries become their downfall. This is an opportunity for new grads to get into the industry. New grads make less then half of what an average professional commands. I could be wrong but this is an opportunity for young professionals and recent grads to get new jobs.
What do you guys think?
Here is the story if anyone is interested?
http://money.cnn.com/2008/03/07/news/economy/jobs_february/index.htm?postversion=2008030712
March 7th, 2008 at 3:04 pm
I see what your saying but dont you think it could also potentially make it harder for recent grads if the experienced professionals take the pay cut. They will take the same salary and at the same time have a lot more experience. I think a lot of it will have to due with the company and the way they approach it and if the pay cut is so significant that a person that’s been in the industry for so long wont take it.