The economic downtown means that I don’t have a nice cushy job waiting for me to graduate into unlike those who graduated with good grades in previous years. Few good jobs are available for fresh graduates now, and I don’t want to just settle for any job. So I am still unemployed. Now I kind of regret not looking for jobs more actively last year.

I guess, like what people say, there are opportunities in a recession too. I’m now faced with a choice of 3 routes to take in my life, and I don’t really know which one is best for my future.

1. Continue applying for jobs and upgrade myself in the meantime
To stay competitive, I am thinking of going for certification courses as well as language courses

Pros
A job can provide financial security – I am actually not so worried about myself but taking into consideration I hope to start a family within the next few years… financial security is definitely a concern. The problem is there are no good jobs out there now and I am picky because I want a career in a field which gives me better chances of relocation in future – so civil service jobs are definitely out of the question, although they do pay very well ($3.9k pm as a prison officer for 1st class honors graduates).

Cons
On the other hand, jobs in many top companies don’t pay very well because the smart people running those companies know that job seekers are willing to sacrifice $ for the prestige associated with working in those organizations. The lower $ (i.e. $2.4k in a Big 4 audit firm) is a problem when it comes to saving up for a family and further studies. I guess there’s no perfect scenario – you win some, you lose some.

2. Start my own business
Known to everyone around me, I always prefer to work for myself. People tell me, and I know it myself, that starting out now is the best time because the opportunity costs are the lowest during a recession when there are no good jobs to be found. The problem is I’ve got lots of good ideas but limited resources (capital and manpower) to realize them.

Pros
Low opportunity costs. Being able to do what I always wanted to do.

Cons
Low financial security (bad for family planning and future studies). Possibility of failure.

3. Go for a Masters program.
This would have been ideal if not for my circumstances now. I am talking about doing a Masters and starting a career overseas.

Pros
Fulfill my goal of relocation from Singapore. Ride out the economic recession by doing a Masters instead of trying to find a job. Relocation earlier is ideal because I can hopefully have kids there and can get residency or citizenship earlier.

Cons
The next batch of Masters for most schools in N. America starts in May or August next year – if I go for a 1 year program, it means I can only start working in mid-2011 – by then I’ll be 28 years old and this would disrupt my plans for starting a family (no $ how to get married and have a family?). Furthermore, doing a Masters overseas costs just too much. I don’t know where to find the money, and as I understand, there are very few scholarships available for international Masters students.

I am thinking of just doing a combination of the above… since nobody would know what the outcomes would be like, I might just continue applying to jobs while pursuing skill acquisition… and on the sideline work on some small businesses. Who knows, I might land a job in a decent organization with good pay (or even a relocation offer!), or perhaps I’d get a scholarship for a Masters program… or… perhaps this is the beginning of a really successful business?

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