Monday, 6/9/97 Opens minds, Empty pockets As college life draws
to a close, graduates must now deal with student loan debts and the
job market
By Trina Enriquez and Candi Ramos Daily Bruin Contributors Amid
the whirl of euphoria and anxiety of graduation are two daunting
tasks – dealing with student loans and finding a job. Fortunately,
UCLA provides a strong support system to deal with alumni concerns
about the job market and repaying loans. The university offers a
variety of services ranging from career counseling to financial aid
advice that may help answer their questions about their future.
Seniors entering the work force after graduation instead of
attending graduate school face a favorable market, according to
experts. Although conducting a job search can prove to be
confusing, UCLA grads have a wealth of resources to rescue them
from the bewilderment of job searching on this year’s market. "The
L.A. economy is accelerating, driven by the film business, computer
programming, international trade and a variety of other
industries," said Jack Kyser, chief economist at the Economic
Development Corp. of Los Angeles County, in an interview with The
Wall Street Journal. Other popular fields include education and
development (which involves fund raising), said Cindy Chernow,
director of alumni career services at the Alumni Association. "The
economy across the board has picked up," she added. "We’re looking
at the lowest unemployment rate in 10 to 15 years." While the
average unemployment rate for the United States is 4.9 percent, New
York has a 10.1 percent jobless rate. Los Angeles weighs in at 7.1
percent. According to the Internal Revenue Service, workers leave
these cities on the hunt for jobs. Southern Californians have fled
to Las Vegas; Phoenix; Denver; Seattle; Portland, Ore.; and Dallas.
"This is actually one of the best times to be graduating for
entry-level jobs," said Brian Krueger, author of "College Grad Job
Hunter." "Hiring is up across all sectors for those who started
their job search early." Many students, however, graduate without
concrete job offers. "These graduates should make it their
full-time job to look for a job," Krueger said. "Retrace and talk
to potential employers; there may be last-minute openings available
to you." Networking is also a valuable asset in the job search.
"Talk to anyone and everyone about the fact that you’re looking for
work," Krueger advised. "Have as many connections as possible,
because you don’t know where the job may come from." UCLA alumna
Jessica Nelson fully realized this. A 1994 graduate with a bachelor
of arts degree in art history, Nelson currently works in the
marketing department of Gump’s, a luxury house and home store in
San Francisco. "Be social with a purpose. The hidden job market is
huge, and the more people you mingle with, the greater your chances
of finding something perfect," she said. Nelson learned about an
intriguing job opening when she introduced herself to a guest at a
barbecue. The guest mentioned going to an interview for a job which
did not interest her, but which definitely interested Nelson. "I
called for an interview and got the job," Nelson said. "They had
already been interviewing for a month and were about to make a
decision (among) several candidates when I interviewed." Prior to
finding her job at Gump’s, Nelson also made extensive use of many
career services offered by UCLA. Among the services are the Alumni
Association; workshops and career counseling held at the Career
Center, which also houses the Career Resource Library; and the
Career Network, an alumni contact service which allows students
access to 4,000 Bruin alumni in almost every career field
imaginable. For three months after graduation, alumni may use
Career Center services for free. After three months, they must pay
for those services. As part of the Alumni Association, however,
they will receive discounts on Career Center services. The Alumni
Association also hosts career workshops which graduates and
undergraduates alike may attend every Wednesday of the academic
year. Besides job searching, some seniors worry about dealing with
student loans. One option is consolidation. An advantage of
consolidation is that students only need to deal with one payment
that has a fixed interest rate. However, Robert Caruso, director of
student loan services and collections, disagrees. "Those who
consolidate have debts larger than $14,000. Students need to
realize that it isn’t necessary to consolidate their loans unless
they have very large debts and want to stretch out the repayment
over a long time period," Caruso continued. "You have a higher
interest rate to pay, and repaying takes a longer time." Financial
institutions such as banks are here to help graduates with their
loans. Another possibility is Murphy Hall, which houses the
financial aid and student loan offices on campus and can provide
emergency loans for students. UCLA is a shoulder to lean on for
graduates worrying about student loans as well as securing a job.
Besides employing the university’s support network for job
searching and networking as much as possible, job counselors place
great emphasis on work experience, internships and extracurricular
activities in increasing one’s marketability. Of course, a strong
grade point average is a valuable asset, but focusing on what one
wants to do as a career is perhaps the most important factor in
determining the direction of a job search. Above all, as the Alumni
Association’s Chernow said, "Think about your career. Your major is
what you make of it. Be flexible, and think about different
options." Previous Daily Bruin Story The Reality of Four Years
Expended in the Hopes of Finding a Job