With the economy teetering on the edge of collapse and several Fortune-500 companies cutting thousands of jobs, some students at Stony Brook University continue to remain optimistic about their future careers.
Freddy Mac, Fannie Mae, Bear Stearns, AIG, Lehman Brothers, Washington Mutual and Citigroup were just a few of the companies that were forced to either declare bankruptcy, be seized by the government or be taken over by another corporation. The turmoil left many businessmen and women and CEOs jobless.
Students, however, are still turning to a major in business. The amount of undergraduate students declaring a business major have been developing at a rapid pace over the last 28 years, according to the Census Bureau.
One particular analysis conducted by the U.S. National Center for Education Statistics found that majoring in business has been the number one choice for undergraduates attending national colleges from 1980 through today. The same study found that since 1980 students declaring a major in business jumped from 86,000 students to over 300,000 nationwide in 2005.
Despite this large number, some students remain unconcerned. “Professors say it might be tough,” said Christina Postiano, a student in the university’s School of Business. “But there is light at the end of the tunnel. There’s only one way to go, and that’s up. I don’t see myself being too affected by it,” Postiano said.
Postiano said the major gives her a broad knowledge base. “Business is so versatile,” she said. “In the end, if I don’t become a businesswoman I can use it in everyday life — knowing things about marketing, knowing things about finance.”
Postiano interned in marketing over the summer in New York City and can see a possibility of venturing into that field after graduating.
“No university can manufacture jobs for students,” said Marianna Savoca, the director of the Career Center. “But we want to make sure in times like these students feel they have to prepare early and get an internship and be more competitive than ever.”
Internships have become a very important part of the process, especially for business majors, according to Savoca. “They’re low-work costs,” Savoca said. “Businesses can’t totally blow their relationships with colleges. They’re going to keep training future workforce.”
According to Savoca, business majors have not visited the Career Center with concerns that their major will keep them from getting a job upon graduation.
Other students also remain optimistic. “It’ll turn back around,” said junior Brian Morgan. “It’ll be harder to find a job, but if you’re qualified you should be able to find a job.”
Some experts see the market decline as an opportunity for freshmen.
“This is unprecedented,” said John Russell, a journalism professor and business reporter. “The freshmen are in fine shape. When they graduate this economy is going to be humming.”
