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Companies were paying students to ditch college early. I had friends that abandoned their degree to work tech support jobs for a 10k signing bonus and 50k+ a year salary. (I bet they regret that now)
There was a company in Cali I think that offered a BMW for a signing bonus.
Recruiters would take you to a nice lunch/dinner all the time. And there were tons of them. (Too many!)
You put your resume on monster and you had dozens of recruiters calling you every day until you removed it. People avoided job boards because of the amount of calls you would get. Imagine that.
Looking back as far as the 60s and 70s, the picture was not as rose as some may want to believe. There were recessions and stock market crashes. But there are differences that make the current recession special.
1) In past times, recessions lasted only between 3-6 months after which employers started recruiting, sometimes bringing back former employees. Each recession ended clearly with lower unemployment. That is not happening now. As a matter of fact, analysts predict improved economy figures, with a simultaneous high unemployment.
2) Employers understood that training is essential and were ready to invest in training to get better, more knowledgeable employees. That is no longer the case.
3) There was more patience, politeness and courtesy all over.
4) Written negative answers were mailed to those candidates who did not get the job, sometimes with a promise to be considered later (time was spent knowing the candidate and they didn't want to waste it).
5) Candidates could phone to inquire about the status of their application. Real people picked up and answered, most phone calls were returned. Not to return a call was considered rude.
6) Leading companies like IBM, GM, GE, Boeing, etc. would visit collages to recruit the better students, still in their junior year.
7) Companies were ready to relocate promising employees (even for mid level positions) from other states.
8) Companies insisted to control every aspect of their design, manufacturing and production, keeping them in house. No serious manager considered outsourcing those important functions abroad, to places like China, or even in the US.
9) You could dress professionally, walk into the lobby of a large company, and tell the receptionist that you want to talk to H.R. She would then call the H.R. assistant who came down, introduced herself and promised to consider the application. At one time, I got this way an instant interview with the H.R. manager...
Oh, I agree about the lack of training today! When I got my 1st waitress gig when I was in college (1985), another major fast casual chain, we spent 2 weeks in training even before starting to follow wait staff around. The initial training was a group of us newbies sitting at tables, studying and memorizing the menu and all ingrediants, learning the wine and how to properly open a bottle, learning alcoholic drinks, learning how the point of sale machine worked, etc. Two weeks of this and they paid us the non-tipped employee wage during that time. Would a company spend that much money now on training?? Heck no. Now they hand you a menu and tell you to take it home and learn it on your own if you want to.
In the book Fast Food Nation it talks about how the biggies have automated so many aspects of their businesses that training is supposedly no longer needed.
....
Here's my suggestion, be thankful that you have a job.
Toughen up a few more years, study and score 700+ on the GMAT . THen go to a top mba program, graduate and become an investment banker or management consultant where you could make a killing...
As for me, I'm ok with where I'm at...
That might have been true in the past, but I don't think that scenario will ever come true again.
A few years ago I wanted to be an investment banker, did the B-school thing with a 3.8 GPA from a top-20 school (Big Ten). Most investment banks didn't even want to interview me, and I was laughed out of an interview at a large investment bank because I didn't go to a Top 5 School (Harvard,Yale,Wharton,etc) and did not have any connections in the industry. While I'm sure there are certain people who are able to get these jobs, it is extremely hard to get in and the salary isn't nearly as high as it used to be. >99% of MBA students who try to go this route will not be able to anymore.
Fortunately for me, I fell back on my Computer Science degree and software engineering background, I'm doing fine and my quality of life is 100x better than it would have been had I actually landed an IB job.
That might have been true in the past, but I don't think that scenario will ever come true again.
A few years ago I wanted to be an investment banker, did the B-school thing with a 3.8 GPA from a top-20 school (Big Ten). Most investment banks didn't even want to interview me, and I was laughed out of an interview at a large investment bank because I didn't go to a Top 5 School (Harvard,Yale,Wharton,etc) and did not have any connections in the industry.
HMM, I wonder why they even bothered to interview you then......but you make a good point, I was trying to say a comment to what you said but I didn't have the right words for it. Well put.
HMM, I wonder why they even bothered to interview you then......but you make a good point, I was trying to say a comment to what you said but I didn't have the right words for it. Well put.
Yes, I kind of wondered the same thing myself. The first interview was with a Managing Director of the company, who was very impressed with my technical work. It went very well and I was flown out to NYC for the second round.
The interview in NYC was with two early thirty-something/late 20's guys, who spent 80% of the time talking about their wonderful education at Brown University and how their bank only accepts candidates of the best caliber. When they found out that I went to a public school and didn't have previous experience in the banking industry, they scoffed at me and basically laughed me out the door.
Ironically enough, the bank fell flat on it's face a few months later, I guess these geniuses couldn't stop the record losses. Maybe next time I travel to New York, I'll tip these Ivy-leaguers extra when they valet my car.
As someone who started her career in the 1960's, I remember the good ole days when pretty much the only requirement for a job was a pulse and people stayed with the same company all their working lives.
But I think that some who are complaining today just dont have the initiative that it takes to get a job and the work ethic that it takes to keep one.
I knew someone who was turned down for an accounting position at a major oil/gas company because he didnt have the required experience; his response was to offer to work there for minimum wage for one month...if, at the end of the month, they still thought he wasnt good enough, he'd leave with no questions asked...if they realized he was good enough, he'd be offered the job at the going salary. He was hired on that basis and, after a month, was given the job permanently. With his initiative, he was promoted regularly and, after some years, became controller.
How many of those who whine and moan about the lack of jobs would have done the same? I've asked others if they'd do this and the response is always "Work for minimum wage? Let a company take advantage of my skills for a month? Never!"
Maybe the current market is tough but I think there will always be decent jobs/careers for those who really want them.
How many of those who whine and moan about the lack of jobs would have done the same? I've asked others if they'd do this and the response is always "Work for minimum wage? Let a company take advantage of my skills for a month? Never!"
Maybe the current market is tough but I think there will always be decent jobs/careers for those who really want them.
That's definitely an inspiring story, and I see your point, but I think in the real world there's a limit on how much somebody should lower themselves (I'm not saying this in a demeaning way, just strictly financial).
For example, there are Wharton MBAs and Computer Science PhDs right now who don't have jobs, because the economy is just that bad. Just because they're offered a job at minimum wage, or some obscenely low salary, they shouldn't feel obligated to take it just to be employed. Many now tell the unemployed to do a job that doesn't even require a high-school diploma when they have a top-notch graduate degree. This is downright insulting. My advice for the educated unemployed, unfortunately there are many out there now, is to just be tight with your money, hit the job search hard, and be willing to relocate...but don't just work for the sake of working.
If someone is barely making ends meet and living off of fruit-loops every night, a little bitching and moaning about the economy is understandable to me.
As someone who started her career in the 1960's, I remember the good ole days when pretty much the only requirement for a job was a pulse and people stayed with the same company all their working lives.
But I think that some who are complaining today just dont have the initiative that it takes to get a job and the work ethic that it takes to keep one.
I knew someone who was turned down for an accounting position at a major oil/gas company because he didnt have the required experience; his response was to offer to work there for minimum wage for one month...if, at the end of the month, they still thought he wasnt good enough, he'd leave with no questions asked...if they realized he was good enough, he'd be offered the job at the going salary. He was hired on that basis and, after a month, was given the job permanently. With his initiative, he was promoted regularly and, after some years, became controller.
How many of those who whine and moan about the lack of jobs would have done the same? I've asked others if they'd do this and the response is always "Work for minimum wage? Let a company take advantage of my skills for a month? Never!"
Maybe the current market is tough but I think there will always be decent jobs/careers for those who really want them.
I admire your story but I think nowadays an employer would take advantage of that and never pay them the "going salary".
I think nowadays an employer would take advantage of that and never pay them the "going salary".
And that attitude is exactly what I mean when I say that some people dont really want decent jobs. All you've lost, if you take that offer, is a month's pay. You actually got some experience and could have made some contacts. But all some people focus on is "the man"s taking advantage of them.
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