The careers and appointments officer in the State's largest university has warned final-year students against being complacent about their job propects in the light of the downturn in the world economy.
Colm Tobin of UCD says that, though graduates are "by and large doing very well at present", he would urge caution to final-year students and recent graduates thinking of taking a "gap" year.
"There are signs of some bubbles bursting - in the financial area in particular. There's a growing tendency on the part of graduates to take a year out - the Australian year, you could call it. While a year out can be beneficial for a graduate, I would try to fight against putting things on the backburner in the present circumstances."
Two major international banks have cancelled scheduled presentations on job opportunities so far, Tobin says. Landing a job in the "blue chip" international companies is a major undertaking whatever the economic climate, Tobin adds - as many of them have three decks to their recruitment programmes.
Starting with a presentation in the first few months of the academic year, some companies ask final-year students to apply before Christmas. Job-seekers are often called for the final stage of the application procedure - up to two days of intensive assessment - around Easter. "To opt out of all that this year would be a mistake, " Tobin says. However, Irish business graduates may not fare as badly as some of their foreign counterparts. Many of the casualties of the present global financial slowdown will be in the trading area, and companies in the Irish Financial Services Centre are mostly involved in fund management and administration. Also, the growth in the information-technology sector "shows no signs of weakening", Tobin acknowledges. Nevertheless, he says, "even in the best of times students should get involved [in the recruitment season] and not rest on their laurels.
"Competition for the top international jobs is extremely intense. Irish graduates are increasingly not just competing against the best in their university, but often with the very best in the top dozen universities in Europe. They may not reach the standards required by the top companies if they are half-hearted about their application."
Gerry Cronin, a careers adviser at UL says taking a year off, even in the present climate, can work to the students' advantage.
"If the year out is part of a wider career plan, then by all means go ahead, but don't decide casually to take some time off." While he hasn't yet seen any evidence of job prospects for Limerick graduates being hit by the "realities in the wider world", he advises students to be "very conscious of keeping their skills updated. "Whether you're looking for a job in a healthy climate, as at present, or in the less promising one we had a few years ago, complacency is never to be recommended. It's a particularly good time to be an engineering graduate or a business graduate with languages or technical skills, but maintaining your employability for the future is as important as getting the first job."
