What’s Next After Your Degree?
By David Adeoye, CFA
It’s not uncommon to find young graduates lament the paucity of employment opportunities in our economy. Even in good times, when the economy was growing at 7 to 8%, the jobs never went round. I remember many (maybe not all) members of my graduating set got a job within 12 months of completing NYSC. But then I also recall the Nigerian economy grew by 10.3% in 2003 largely driven by the mobile telecoms boom.
As the years went by and the global economic crisis of 2008/2009 set in, there has been a marked reduction in entry-level job openings. At the same time the number of graduates continues to rise and there tends to be a common question: What do I do next?
My suggestion is simple: first address your gaps. Every young person coming out of the university most likely is confronted with three main categories of what I’ll call resource gaps. The first gap is the vision/identity gap. The second is the content gap. And the third is the skill or competence gap. Addressing these gaps in a constructive way not only gives a young person an edge in the market place, it provides a strong platform on which the individual can build a meaningful professional life. I’ll discuss each gap in turn.
First, the vision/identity gap. The most common element I observe in most graduates (with the exception of law and medical students) is that the individual does not know what he or she wants to do. It’s clear from the CVs and it’s even clearer when you ask questions. Most graduates simply have no career vision or professional identity. For those that appear to have an idea, it’s often quite vague to be meaningful.
Second, the content gap. Most graduates know too little about the world of industry around them or relating to their supposed profession. A law graduate should know the top law firms, the key practice areas of the legal profession and practical applications of key aspects of the university or law school curriculum. In the same way, an accounting graduates should be closely familiar with company accounts, changes in accounting standards as well as instances of accounting scandals. Again he or she should be able to apply his or her knowledge of accounting or finance in problem-solving or solutions development contexts. Besides, the person should be conversant with who are top, mid-tier and emerging firms (prospective employers) in relevant aspects of both professional service practices, financial advisory firms, and other relevant areas of practice that offer gainful entry-level experience.
Third, the skills gap. Too many graduates have very weak business computing and other technical skills. Developing a clean, well-structured presentation or a simple letter could be very challenging if not impossible with many who consider they already deserve a place in an established organization. Time management, teamwork and other soft skills are equally essential but often lacking.
Why do we see this gaps? The educational system is largely not application-driven. Rather it rewards and encourages ability to recall information. Also, the pursuits of grades sometimes inevitably forces many to abandon their true strengths in the pursuit of recognition.
In the workplace however, the emphasis is different. Employers and businesses in particular prioritize capacity for productive work above every other trait. Ability to work with others is a very close second. The individual is required to possess these abilities. Then he must make that ability count within the context of a team. Over time leadership and managerial abilities become more important. None of these traits is an integral part of the school system in most parts of Africa, especially at the university level.
How do we address the gaps? We should start with the old admonition: “Man know thyself”. Self discovery and choice of a person’s place in society are fundamental decision. They are the foundation upon which excellence is built over the years. So let’s ask our young men and ladies: what do you want to do? And let’s not rest until they provide answers that are valid and compatible with their abilities and graces.
Addressing the content gap demands that the individual recognizes the knowledge demands of his chosen field. Then he has to go to work and put in the hours to acquire the required knowledge through study, observation, and association. Let’s say to them: “Identify and acquire the knowledge you need”. Learning will never stop, but more often than not, the knowledge you will require for any particular role or even task cannot be acquired overnight. So go to work and address your most pressing knowledge gaps.
Lastly address your skill gaps. What must you learn to do? Knowledge may come through studying, but skills can only be developed through practice. Let’s get our younger ones active. Let’s get them to build the spreadsheets. Let’s get them to work on and interpret budgets. Let’s get them to write formal letters. Let’s get them to develop business plans. If they are architects, let’s get them to design models of malls, bridges, hotels etc. Let’s get them to develop market prototypes for new products. Let’s get the business graduates to assist with book-keeping and planning in a family business. Let’s get them to draft reports and and take minutes at meetings. On each of these areas, there is plenty of free guidance on the Internet.
In doing all of these, we would be bringing out the stars in them. We would be placing them on a stronger footing than another degree can give them (unless they are going into academics). Then when we try to help them get jobs, it would be far less challenging and they in turn would be far more competitive.
Always remember the first degree is a mere foundation. You can build on it as you please but whatever you do, discover your gaps, address those gaps and bring out the best in yourself.
I wish us all a great and rewarding 2020.
Note: This is a revised version of a piece first written in December 2015.
Good essay.I particularly recommend this for all Nigerian students.