Will graduate jobs in IT be affected by credit crunch?

#1

Do you think graduate jobs in IT will be affected by credit crunch? Is it likely - at I banks, etc?

#2

Yes, especially at banks. Everyone will be/are affected by the credit crunch.

#3

Actually graduate jobs in IT may fare better than other types of jobs. Investment Banking specifically, may be a bad area for graduate looking to work in IT, but in general companies are always interested to recruit capable IT staff. Many companies are just not able to recruit enough talented IT staff and often roles go unfilled. The credit crunch means that generalist roles are likely to be affected, by IT roles are essential to a company’s key operations and in all likelyhood IT graduates will continue to be recruited.

#4

I would say generally, yes in terms of graduate entry roles for now, however if you have particular talent in a desirable area, then it shouldn’t be a problem.

IT consulting has been hit for example, with technical consultants and techies facing the biggest redundancies, a lot of contractors started getting laid off during the year, before the IB meltdown. It might get worse when projects run out and are not renewed due to a desire to cut down on spending. A mate of mine in his 30s working for Goldmans in a senior IT position is saying that recruitment at GS has definitely slowed down (I will ask again when we next speak and post here, if I remember. Working for GS in IT is really not 9 to 5 and involves a lot of staying up at night).

However there will always be demand for highly qualified IT staff. I hear it’s hard to find decent JAVA programmers for example. Also, companies who benefit from the credit crunch (online advertisers so far, Lidl, Aldi, Primark and the likes) are going through expansion, so you might want to look into that. I know a lot of cutting-edge advertising networks are looking for techies.

#5

Hi everybody,

              I would just like to know, is there any specific way that an application is being selected in any organization? or is it only with academics and previous year work experiance? Thanks!!