OCS, Students Fear Job Market Fallout

The financial markets’ recent dips and possile repurcussions from last week’s terrorist attacks have led seniors and Office of Career Services officials (OCS) to fear a dearth of employment opportunities for the class of 2002.

‘This is the worst job market in years,” said Judy Murray, recruiting director at the Office of Career Services at yesterday’s recruiting orientation meeting.

Even before the meeting began, some students said they expected to hear bad news about their prospects in the job market.

“I’m concerned. The economy was bad before [the terrorist attack] happened. Companies are already saying that hiring projections are lower,” Ayanna A. Lonian ’02 said.

Some consulting and investment companies have changed their recruiting practices this year in response to the economic downturn.

“A number of companies have cut back [on the campus visits they make],” Murray said.

However, she said students do not need to give up hope yet.

Over 100 companies still plan to visit Cambridge at least once this year, and all the companies that usually hire Harvard students are planning to do so, she said.

According to OCS Director William Wright-Swadel, it is likely that more students will explore other options such as fellowships and graduate school.

Wright-Swadel speculates that companies generally still do not know what effects the recent terrorist attacks will have on the number of jobs they will have open and might therefore wait until the spring to do most of their recruiting.

And despite the difficulty of entering the job market right now, OCS officials remain optimistic for Harvard students, they said.

Wright-Swadel said that Harvard has “the best talent in the country” and that OCS recruting remains “strong and viable.”

Michael A. Blaustein ’02, said he recognizes “an aura of fear and uncertainty” in the job market, but also said, “We shouldn’t be too concerned. It’ll be a rough year, but not so rough that people won’t be hired.”

But no one is saying Harvard students won’t have to work especially hard to be hired.

“Competition is very ,very stiff and you will have to be prepared. . . if you are prepared, you should do well,” Murray said.

But Murray’s words did not reassure everyone.

“I’m pretty worried,” said Danielle M. Brown ’02 as she left yesterday’s meeting, “I have loans to pay.”