The modern Irish graduate is well-travelled, ambitious, accepting of change, but more than anything hungry to get into the labour market before all the best jobs are gone, according to careers officers in many colleges.

Unlike the early 1990s, when almost 45 per cent of graduates decided to prolong their studies through a postgraduate course, the most recent report from the Higher Education Authority (HEA) shows that figure falling to below 35 per cent.

Enrolment figures for courses in some institutions illustrate this trend even more starkly. For example in 1995, 32 per cent of UCD graduate engineers undertook further academic study - by last year this had fallen to 19 per cent.

It would appear that graduates just cannot wait to get out there. Tales of software virtuosos banking their first million after only a few years in the labour market appear to be sending some graduates into blind panic.

Pessimistic economists who talk about the economy going into a tailspin are not helping graduates to keep their sense of balance either. There appears to be a general yearning to get a degree, diploma or certificate and get out there before all the great opportunities dry up.

But careers advisers say now is a time for cool heads. Loretta Jennings, careers and appointments officer at NUI Maynooth, says students in their final year should consider very carefully whether they need to study more or not.

"Students on some courses want to hit the jobs market as soon as possible, whereas others cling to doing a postgraduate course which may not be necessary. Each student should research carefully whether their chosen area requires a postgraduate qualification or some kind of further training," she says.

So if students are rushing from the groves of academia, what are they rushing to? "Well you would have to say that sectors like information technology and financial services currently have an endless appetite for graduates," says Colm Tobin, UCD's careers and appointments officer.

The IT sector used to be the preserve of computer science students, but is now taking students from all kinds of disciplines. Many universities have conversion courses and there is no reason - at least theoretically - why a classics graduate or anthropologist cannot take one of these courses.

Obviously a fair degree of expertise is needed to become a programmer or software developer (jobs where big pay is a relative norm), but opportunities in other areas are also good.

Language graduates, say careers advisers, should consider the localisation industry for instance, which involves translating software for international markets. Business students can also hitch themselves to the IT train, with e-commerce a particular option for them. As that is a relatively new sector, some business graduates would rather stick with the tried and tested employers like the corporate finance houses and the retail banks, however. Jennings says when the Irish banks do their milk rounds in NUI Maynooth there is still a huge response.

With e-commerce companies currently enduring harsh times, some graduates may be slow to look at the area, but careers officers point out that the sector could be on the rebound and this is worth considering.

For people in the humanities, the options are as varied as ever, says Tobin. There is teaching, banking, media, the civil service, advertising, public relations, marketing and most lucratively in recent years, management consultancy.

"Employers are looking for those personal, transferable skills like problem-solving and team-working and are not as concerned with the exact details of your degree any more," says Tobin.

Proof that arts and humanities graduates are in demand in the commercial world is everywhere. According to 1999 statistics from NUI Galway, more than a fifth of graduates went into insurance, finance or other commercial areas.

One of the other large groups - engineers - have never had it so good according to most career advisers. "If the economy is doing badly they get hit and if it's doing well they really boom," says Tobin.

The institutes of technology have realised this and have added extra disciplines to their engineering courses to make them more attractive. Tallaght IT has picked up on the scale of the semiconductor industry in Ireland and offers a certificate in engineering (micro-electronics and semiconductor manufacturing), which last year only required minimum points.

Tobin says all engineers do well at the moment, but civil engineers tend to be snapped up first because of their usefulness on large infrastructural projects, many of which are currently being put in place under the National Development Plan.