KEEP AN EYE ON YOUR FIELD
Sometimes job prospects for new college graduates can change almost more rapidly than students can even plan, depending on the field. Such has been the startling case recently in the realm of petroleum engineering. The national oil glut has forced many of the energy companies to reassess their staffing needs as Zain Shaulk reports (“Grads Hoping for Oil Job Riches Are Worried” Bloomberg Businessweek , 2/9/15–2/15/15, pp. 27–28):
“ The oil crash that’s forcing energy companies to slash billions from their budgets and cut tens of thousands of workers is derailing an industry campaign to attract top college graduates. ” (p. 28)
Historically, chemical engineering majors have had a very steady track record of strong job prospects at graduation time. That is what makes this development especially unusual. Although this makes career planning difficult for those about to graduate, it is not a showstopper in the end. Chemical engineering graduates are needed by many more companies than just the energy companies. Moreover, the overall long-term positive prospects for employment and lifetime income just by virtue of having a college degree are not to be underestimated.
This situation does remind us of a very important lesson. Regardless of where you are at in your career path, always keep a close eye on your industry. Both short-term and long-term industry changes can enhance or derail your career planning. If that occurs, it is always better to be on the proactive side of things rather than the reactive side.
