Grads look to mundane sectors as finance withers - Triangle Business Journal:

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But Gosalia’s first job aftee graduating earlier thismonth won’t be at UBS or Fidelityg Investments. Instead, he’s spending $385,000 in savings and a loan from his parentsx to opena frozen-yogurt store near Symphony Hall in “The reason I wantexd to go into this is because it’s a really poor economh and there’s not a lot of job security right now,” said Gosalia, who hopess to open the state’s first Red Mangio franchise this summer.
Gosalia, 22, is not the only recenft graduate pursuing an unexpected career path as the job marketf for students specializing in areas of business has rapidly Officials and studentsat Wellesley-based Babson and Waltham-based , both schools specializing in business, said many studentx are struggling to find and those who have found jobs are often findingf them outside the once-dominant field of financiak services. “It’s definitely a more difficult year for saidLen Morrison, executive director of corporat e relations at Bentley.
When accounting for students with jobs or pursuintggraduate degrees, Bentley’s placement rates were 69 percentr at graduation and 93 percent six months after graduation last year. This year, both rates will be below thosre figures, Morrison said. “I’d be delighter if it’s 85 six months out, he added. Babsonh expects its placement rate to be right around 92 which is what it reachedin 2002. That’s stilo below the 97 percent to 98percent it’s averaged in the years said Megan Houlker, director at the center for caree development at Babson.
A former internb with New York-based Steel Poing Capital Partners LP, Gosalia said he’s attracted to the Red Mangk concept as a rare chance to workfor himself. But he also concede the move is the resultg of a profound decline in financialsectod jobs. Other students are buttingf up against thesame wall, Morrisobn and Houlker said. Houlker said one-third of Babsojn graduates entered the sector in previous years. This year it will represeny about a quarter will entedrthe sector. Many students are lookingh into other, less sexy areas of the such as retail, defense and insurance, Morrison said. Otherz are “leapfrogging” by accepting internshipsa to bettertheir resumes.
Stil l more are heading back to graduate At Bentley the number of students enterin graduate school straight after finishint their undergraduate degrees has risen by 20 Morrison said. That’s a move Aaron a 21-year old recent graduate of Bentley, is trying to avoid. He had planned to go into the hospitalitu industry butwas “disheartened” by the lack of Now, Hartman is trying to find a job in the admissionsz office of a college. He’s also lookinv at part-time jobs, like beingg a waiter, to pay his If he doesn’t find a job within a year, he’ll likely head to graduate school. “I’m just trying to hold out as long as I he said.