Recession and returning from abroad due to lack of placements

The recession has impacted the global economy in an unprecedented manner and Indian students, among others, are suffering its fallout in terms of lack of placements and financial woes. Left with fewer options, a number of these students are heading back home. Says, EF who completed her Master’s in Research Psychology from the University of Essex in the UK, last year and who decided to come back to India due to the lack worthwhile job openings, She did not want to settle for a measly job after working hard for master’s Though EF did not want to come back either, the circumstances were such that she had to make this decision. EF could have hung on, but there was too much uncertainty in the job market. Most of her friends who’ve stayed back with low paying jobs in Singapore are struggling to save after paying off their living expenses and EMIs. EF did not want to live a hand-to-mouth existence there and decided to return home and search for jobs here. Although, it may take some time to land a job here, she will not need to spend much on her day-to-day expenses. This will make paying off the EMIs much easier.

Others also beleive it’s not a story of defeat and gloom for those who are returning. Unlike overseas economies, India is a not reeling under recession but is experiencing a slow down. Besides, you have your family to take care of you and that’s a blessing.

Students planning to return should start applying for jobs in India via job sites, in advance. This extra effort of applying early even before heading back may land them in jobs sooner. Also, students with an overseas qualification have the advantage of being given a higher priority by most employers in India. EF posted her CV on a job website before coming back and received an interview call from a reputed organization within two days of returning and she joined them within a month.

Alumni Associations: For students returning home, getting in touch with family and friends who can help is always an important first step. Besides personal contacts, another useful means of networking are alumni associations. Returning students can always contact at www. Americanalumini.net or aaa@iaccindia.com for help and they will try their best to assist them. A majority of people contact them to get in touch with their alumni who may help them land a job. The increased need is for networking owing to the large number of students returning.

Most companies are going through a slowdown and are cautious in hiring people, especially for senior positions. It was only through networking that one Mr.X got my current job with an IT services provider. It is very important for students to network and make their presence felt. Students returning should be advised to meet their alumni and get in touch with placement agents and head hunters, it will make things easier. Besides posting CV on various job sites and hunting for placements advertised in newspapers and magazines. Alerting as many people as possible for job hunt can help. Who knows someone may be aware of an opening and might just that get that elusive interview call.

Further education can be an option for students who have returned after completing their undergraduate studies. If the student has completed a bachelor’s program and is interested and capable of studying further, then this would be a good time to explore that option so that once the economy revives, he/she is in a position to enter the job market at a higher level with better advancement prospects.