College Grads Shun Wall St. For Non-Profits

bloomberg.com:

Nationally, 27 percent of about 1.6 million graduating seniors plan to work for nonprofit groups or governments, an increase from 23 percent in 2008, according to a survey of 14,225 U.S. college students conducted by the National Association of Colleges and Employers, in Bethlehem, Pennsylvania. Thirty-nine percent of graduates want private sector jobs, down from 45 percent last year, the survey found.

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Read the whole story: bloomberg.com

Comments

[nomorefed]

When the people fear their government, there is tyranny; when the government fears the people, there is liberty.

~Thomas Jefferson

hat tip to http://www.short.ie/g264dk for the good articles

[jerrypl]

So why is this news? Wall Street is closed up and is not finished pushing people out onto the main streets. Non profits are always looking for smart new grads to hire at low wages. The 60's saw a flood of grads going into non-profits. It happens with every generation. New grads have lots of fresh ideals and want to contribute. Good for them.

http://eye-on-washington.blogspot.com

[t4cgirl]

Also note that Wall St is shunning new grads.

Also note that while 23% are going to non-profit, 50% more aren't making a profit -- i.e., they're unemployed.

Also note that non-profit hiring is also down.

It's sad -- entering the workforce in a depressed economic landscape can have a negative impact on an entire career. Sure, they can get a more "diverse" experience before chasing down that i-banker career -- meanwhile those who graduated a year ahead don't have that more novel a resume, but have...tha­t much more career advancement.

[davidwayneosedach]

It is more like Wall Street isn't hiring. Rather than these dedicated grads shunning Wall St. They are lucky to work for non-profits for free.

[nomorefed]

1st 100 days - There are 2.9 million more people unemployed in May than there were unemployed in January. The unemployment rate went from 7.6% to 9.4%.
Since May 2008, we have lost 5.5 million jobs. The biggest losers were:
Manufacturing 1.5 million lost
Finance & Prof Serv 1.5 million lost
Construction 1.1 million lost
Retail & Leisure 1.3 million lost

hat tip to http://www.iamned.comned.com"> for providing good finance and economics articles

where is the change? where is hope? why cant ppl find jobs?

[KillTheMessenger]

"where is the change?"

All around you... if you open your eyes.

"where is hope? "

If not inside you, it's nowhere.

"why cant ppl find jobs?"

Because they aren't qualified. The majority of people in the US are not educated enough to hold a secure job. Shame on us for destroying our kids' lives with one of the worst education systems in the world.

[KillTheMessenger]

Yawn. Kids dreaming..­. The reality is that non-profits are evaporating as we speak. The people that I happen to know who work for real non-profits (not political interest groups and lobbyists in Washington that sail under the non-profit banner) are telling me that funding has collapsed, they had to lay off salaried people, everyone had to take a pay cut and they are trying to get by with more volunteers to make up for the losses. Even that is challenging because some non-profits are now at the point where employees are full time volunteer supervisors and can't get any of their own work done.

[DakotaMinnesota]

A lot of people seeking refuge in nonprofits who disagree with the vapid corporate culture taking a grip on America. Even college campuses are corporatized these days, with many of the old freedoms long gone in most institutions. I think humanists are increasingly searching elsewhere for meaningful employment.

[TJCole]

Almost all of Wall St. is a non profit employer..­.think about it, same goes for Donald Trump...

[Jinpachi]

I'm not sure that it's a shunning of Wall Street, but rather a lack of available paying positions.

[JZ735]

The shame of working on Wall Street is obviously readily apparent to some of these kids...who wasn't to have that nasty stain on one's resume?

[JZ735]

The shame of working on Wall Street is obviously readily apparent to some of these kids...who wants to have that nasty stain on one's resume?