TELLA: A silver lining?

As one of the very students who you speak of who formerly anticipated a job on wall street post graduation, your comments serve as a very displeasing yet direct and true reality check. But the silver lining you speak of doesn't take into consideration the individual motivations of the talented graduates you speak of, only the positive externalities on the economy. Of course, those of us supposedly armed with enough knowledge to work in a variety of fields (myself not 'merely' a business student) nevertheless expected a certain level of financial compensation, whether we deserved it or not. If thousands of American graduates now end up finding jobs in corporate America or, heaven forbid, in the federal government, they will be faced not just with miserly salaries (when contrasted to what they anticipated on the street) but with jobs that most likely will not compensate in other terms to make up for the income loss. Would I have though twice about spending $200,000+ on a college education if the prospects of getting a job that would pay just as much in the first two years were no longer realistic? Perhaps. Will I protest my lack of self importance in my new job given that I'll be earning relative pennies? Yes. Will anyone listen? Will there be a change in corporate culture because of an influx of talented students, a generation, in fact, that has been accustomed to showers of praise followed by showers of money after college? Their natural reaction will be to cry and complain. But will the economy spoil us like our parents and teachers have? Doubtful. In essence, there is no silver lining for these talented grads, but rather, an overcast forecast for as far as we can see forward. Given the way the American higher educational system works -- rather, the cost -- I have serious concerns about the talents of future work forces if the job market won't compensate adequately.

To xps900, If your parents, teachers, professors, friends and certain relatives didn't tell you; then maybe the rest of the world let you know what all these people forgot... Lesson #1: Grow up! Like a lot of sports athletes and Hollywood celebrities, learn the word "NO". Althought in your case you may want to learn the word yes. Yes it was either incredibly stupid to throw $200,000 away on an education that you may need a entry level job at McDonalds to start repaying. Wall Street financiers and Harvard educated lawyers pretty much are going hand in hand today...they are figuring out that they have a better prospect of getting a job scooping ice cream at the local dairy queen than working for Bank of America or AIG or Prudential or Wachovia. Lesson #2: Once you have graduated, you are not owed anything except to be you and die. Anything else you better earn on your own sweat and labor...your parents no matter how wonderful you think they are, will not be here forever carrying you and your friends by paying for everything and you banking your money. How dare you to even think that you deserve a pat on the back when you haven't done anything yet. Maybe you should try some type of accomplishment after you have just existed spending their money. Protest and cry all you want, but you better have yours in the bank before you look at anyone else's. And you had better know something more than business today, always have a plan B. I hope that you never have to apply for Social Security or Medicare, you will really have a reality check then. Even though you have paid into these funds for many a year, you still have to prove that you need and deserve it. Those people will hold you up for at least 6 months before denying you access to "your" money and then give you the lamest excuse they can. You really want a life lesson, go ask your parents what they had to give up so that you could have that ivy league education and then think about what you will need to give up in your life if you ever decide to have children. Money for an education may be the least of your problems.