The stock market has obviously seen better days.
Today, Goldman Sachs and Morgan Stanley received permission from the Federal Reserve to change their status from investment banks to bank holding companies. In non-finance parlance, this means that both companies will now be able to accept deposits, just like a regular bank would, in order to bolster their resources.
Yikes. Is that news supposed to comfort us?
It used to be that college students majoring in business and finance could expect a well-paying job right after graduation, but that is certainly not the case in today’s poor economic climate.
Talk about going from cha-ching to kerplunk.
Are you thinking of becoming a business or finance major? Are you sure? Peter Cohan, an adjunct lecturer in management at Babson College in Waltham, MA, wants you to think long and hard about it in this economy.
“Students thinking they can go into finance are in a for a rude awakening,” said Professor Cohan in an e-mail to CampusCompare, citing fewer employment opportunities after graduation than there have been in the past.
“My advice would be to look at entrepreneurship rather than relying on established corporations to hire [college students],” said Professor Cohan.
That’s a good tip. There have been many a dorm room-grown business that has taken off. Our very own CampusCompare is one such company, as is StudyPoint, a tutoring company that got its start in 1999 with one office in Boston, but now has offices all throughout the country, serving students in more than 15 geographical regions.
If you are interested in running your own business some day, CampusCompare has more than 160 schools offering degree programs entrepreneurial studies in its database.
Hey, if the Wharton School at UPenn worked for Donald Trump and his two children (Donald Jr. and Ivanka, who now work for him), why can’t it work for you?
