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One more finance grad who didn't see it coming

JOBS are frightening scarce and graduation looms as a time of hardship, especially for college grads holding degrees in business and finance.

He Ping, 22, will graduate in June from Shanghai University with a degree in finance. She has sent her resume to more than 100 companies and had 30 interviews - no luck.

The Shanghai Education Commission expects more than 158,000 college graduates this June, 6.4 percent more than last year. That's on top of other unemployed graduates from last year and other jobless and laid-off workers.

He doesn't know what she will do.

"I wish that four years ago I could have foreseen the future," she says.

Four years ago, before the global financial crisis hit, majors in finance, business and related fields were popular. Students expected good white-collar jobs, high salary and good prospects.

Those days are over, at least for now.

"Usually the finance majors look for jobs in financial institutions like banks," says He. "But because of the crisis, many banks have cut recruitment and some have canceled job fairs on our campus.

"We're not the worst off," says He. "In other universities, 80 percent of graduates hadn't found a job by the end of March, not counting those who will study abroad or continue as post graduates."

China's post-graduate entrance exams have just ended. Some of He's classmates who failed are planning to start their own business.

"They think that when you cannot find a job, you can create your own - but it's not so simple," says He. "You need start-up funds, knowledge, experience and you have to face a lot of demands - the reality is cruel," she says.

Some of He's classmates are willing to wait and try for work next year if they can't find jobs this year. But then, competition will be even stiffer.

"But I don't want to wait," says He. "My parents have supported my four years of study. What can I tell them if four years later, I'm still living at home, jobless, supported by them?"


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