Sep 17, 2008 7:28 pm US/Eastern
Future Wall Street Execs Worry About Job Opps
SOUTH ORANGE, N.J. (CBS) ―
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The Wall Street crisis is having an effect on future execs. Students preparing for jobs in the financial sector are concerned now, too. (File)
Gregg Geller/CBS
The upheaval on Wall Street is having repercussions even among those not yet in the workforce. The crisis is reverberating among college students preparing for jobs in the financial sector.
Students at Seton Hall's Stillman School of Business worry about the job market as they watch the nightmare on Wall Street unfold. For senior finance major Erik Ereuhaus, it's particularly scary because he graduates in the spring.
"Clearly I think it's going to be difficult," he admits. "There's not going to be as much jobs out there."
Senior Andrew Mancini, also a finance major, knows he'll be competing with experienced workers who have lost their jobs. "The best bet is to keep networking and hope for the best," he says.
Despite the twists and turns he's witnesses, Mancini is confident he picked the right major.
"I am a full-fledged finance major. I would never want to be anything else. It's a passion of mine and the Street is where I want to be," he says.
In fact, business school graduates like Tom Hayn, now studying corporate law, remain optimistic.
"The good thing from the law side is that when something, a crisis like this, does hit, there's a fair amount of legal action and maybe that will be bump in my area, but overall it's not a good thing," says Hayn.
Scott Rothbort, who teaches a financial markets class, tells his students to learn from the turmoil and to stay focused. "Some of the smaller firms are still going to be hiring and looking for young talent," he says.
And the other advice he gives students is to go to graduate school and hope by the time they get out there will be more opportunities.
Many career counselors are also reminding students to have a "plan B" and to take the lesson that there are no guarantees in the real world.
(© MMIX, CBS Broadcasting Inc. All Rights Reserved.)
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