Oh No! I’ve Graduated With a Construction Management Degree.

I’m sure there are many youngsters that just received a diploma this month with a concentration in construction management.  Now they are boggled in debt and left with no income on which to live.  So of course the simple solution to that is to get a job.  Well, unfortunately we are in perhaps the worst construction market that our country has ever seen.  And I hate to say this, but if you’re a white male with no family (like me), it’s even tougher.  So what do you do besides cursing the parents, counselors and professors that told you that engineering and construction was a good stable industry where you can at least make a sustainable salary (trust me, I’ve done plenty of that).

The answer to the question is not easy, but there are options believe it or not.  I’ll try to sum up a few.

Look International

I’m not saying that the international construction market is much better than it is in this country, but there could be some opportunities with American companies that are having trouble getting their more rooted and stubborn older employees to drag their family overseas.  You can definitely make some money overseas, there are tax advantages, and a company will often pay your living expenses while you’re over there and probably let you come back to the states about four weeks a year.  I would just make sure  you have an exit plan if the company decides they want to send you to Antarctica for ten years to build their top secret alien communication headquarters.  I would just be clear that you want to get back to the States a few years down the road and maybe even get it written into your offer letter.

Build Highways

I know, I know, who the hell would want to build highways?  Well, certainly not me, but believe it or not, there are a lot of people that do it, and they make some good money.  And I don’t think it’s really as boring (no pun intended) as everybody thinks.  There are actually pretty innovative methods of financing highway projects with public and private entities partnering up and sharing revenues.  If you’re interested in politics there is certainly a heavy dose of it in construction of highways, bridges, and other transportation projects.  With all the stimulus money pouring into infrastructure, this would be a good way to get a paycheck during these “challenging” times.  But be careful of the pigeon hole, and being shipped to Alaska to build the first paved dogsled track.

Do It Your Damn Self

The worst part about this is that it takes two things that most people who are coming out of college don’t have: experience and money.  Maybe you can get a loan to start the company and pay your bills for the first year or so, but it’s going to be very tough to get awarded a contract without a track record or at least some references.  However, you may be able to partner with a more seasoned entrepreneur who may be able to get financing and also provide the much needed experience required by most clients in order to get a project.  Just be careful cutting a deal with a partner that you don’t know (or that you do know for that matter).  You probably want to at least pay a lawyer for a few hours to review the agreement and documentation that all parties involved will be signing.

Last but not least,

Chill Out

Just because you don’t have a job right after you graduate doesn’t mean the world is coming to an end or things won’t improve in the future.  You may want to take this opportunity to do some traveling or volunteering around the world for a couple of years and then come back to a much improved job market.  Believe it or not, there are some employers (albeit not many) that may look at that as a valuable growth experience that will benefit their organization in the long term.  But either way, it will certainly be personally beneficial and it’s only a matter of time before things are cruising along nicely again.

Tags: CEM degree, Construction blog, Construction Economics, construction management degree, graduation, John Poole