After a comment on the "Week 23" post I have decided to re-post my response here to allow others to view it easily.
I only want it to be clear that this is my opinion and the opinion of a few others I have discussed this with in the program. What is really happening will only be told by history. It is very likely I'm wrong, if not in entirely than in part.
From what I have heard, many companies are being a little more selective on who they are interviewing, particularly the consulting companies and the banks. In addition there are fewer positions available (e.g. 3 instead of 5) compared to previous years. Also, some of the "rumoured" offers are a little lower for some positions compared with other years, but these are "rumours" and I have no way of knowing what are the facts. (Pure speculation is dangerous, but I'm human and can't help my curiosity and to fill that curiosity with speculation when fact is not available.) All of this is a result of things slowing down and other qualified people entering the labour market.
I have been looking closely for a position related to oil and gas in Canada and I can tell you that all seems to be well in "the patch". Lots of jobs of all types. In fact the french giant Total just moved into Calgary and is looking to drop billions into building an oil sands project despite the downturn. There is also rumours that these times of lower oil and gas prices will result in consolidations. This of course means work for all the financial and supporting services for these acquisitions and mergers. So, it seems Alberta and "the patch" are a little bit more shielded.
One clear distinction should be made between Canada and the US. From what I have heard Canada is still relatively strong even if things are slowing. Some firms in the US have come to a grinding halt. In other word, although Canada may be slow, at least we still have job opportunities. Not a lot of people were looking to go to the US after the program, so this shouldn't affect too many of us. Most the international students were looking to work for a Canadian company and see where that took them since visas to work in Canada are available where as the same visa in the US is all but vanished. (If a US reader had further insight please feel free to share via posting a comment)
In addition, one person I talked to was a tad bit concerned since they were thinking of going to the United Arab Emirates for banking. However, one of their contacts mentioned that there were a large number of applicants from Europe and the US. A lot of them ex-bank employees and looking for work as a result of certain closures and downsizing. This could be a serious issue for this individual should the situation not change over the next 6 months. I haven't heard much regarding other international employment environments. (If readers from other parts of the world has any insight please feel free to share via posting a comment)
However, all is not dark! I distinctly remember a particular CEO who talked with us a few weeks ago (although it seems like eons). Bruce was quite confident that getting into these firms, both banking and non-banking, was difficult in these times, but the effort well worth it. He has seen many a career made by someone entering industry in a downturn and watched as they have been catapulted to the top during the ensuing recovery and boom. This makes sense, but only time will tell if this particular dip will rebound in a similar fashion or some other random fashion. Also, it may have just as much to do with the individual in question as the circumstances. It all sounds a lot like luck to me...
As my father always used to define luck when I was younger, "luck is when preparation and opportunity meet". So, getting the education and a key position is the preparation allowing you to take advantage of the opportunity when it arises. Hopefully I can take care of my "preparation" now and get ready for my "opportunity".
Informasi Terkini
10 years ago
1 comment:
Thanks! Does sound fairly balanced and in line in what my beliefs are. The Canadian system with far more regulation is more stable during a turbulent times such as these.
However, there is an intrinsic connection between US imports and Canadian exports, and so there will be areas of economy which will be impacted by the American slowdown. The commodities are still doing fairly alright, although oil is a long way off its peak value, and that will keep a large part of Canadian economy going (BC/Alberta specially). The fall of Canadian dollar makes exports more competitive than they were a year ago.
However, there is a lot of uncertainty about how the future will shape and that will keep a lot of employers on the sidelines, who would prefer the wait and watch approach.
I am not in the US, but believe that US job opportunities will shrink, specially with the high unemployment, and local US graduates. So will be difficult for Canadian graduates to get a US work permit. UAE will see a lot of influx from the other countries, as long as the oil is doing well, but that just might be the next bubbly economy.. so one has to be a bit careful.
I've seen my friends who survived the previous recession do very well in their careers. Primarily, I believe, because it was their never-say-die spirit and the will to succeed that helped them through the recession, and put them at the top during a boom period. And I am sure this would be a similar time. Basically, a natural way of weeding out the ordinary from the brilliant.
About your comment about whether anyone really reads the blog, I can tell you that this is an extremely useful tool for the future students, as well as those from the past, to keep in touch with the institution.
Post a Comment