Hat Tip: McArdle on Job Hunting for New MBAs

Last Updated Sep 25, 2008 1:19 PM EDT

Just toiled your way through an MBA course only to enter a depressed labour market? Megan McArdle -- whose graduation coincided with the 2001 dotcom bust -- has some valuable advice for any new graduate.

Cast a wide net -- you're likely to have diverse skills. Use them. McArdle was both journalist and consultant.

Get a job that's going somewhere -- better to be flexible on hours or pay than land yourself in a job without any prospects for progression.

Reassess your goals -- now's a good time to decide whether you want to jump to another career.

Curb your spending now -- resist the urge to splurge (even if you deserve it). McArdle's tip is sound -- "Allow yourself exactly one feel-good treat of under £150, such as a spa day or a really epic night of drinking. Then promise yourself something really good after you find a job."

Consider going back to your old firm -- unless you want to change career or loathed your old workplace, it's a sensible first-stop.

Network like hell -- McArdle sent out 1,400 CVs after her firm failed, but her job interviews came from personal contacts.

Find kindred spirits -- being unemployed can make you feel like a pariah. Find people in the same boat, who will also be living on the same budget as you.

Find some way of making money -- sitting alone and fretting will make matters worse. Even a dog-walking job will give you a sense of purpose, as well as a bit of spending money.

Don't panic Everyone I went to school with is gainfully employed, except for those who have chosen to stay home with children. No one is living on cat food. It's hard to believe it, but you will come through this, even if it takes you, as it did me, 18 months to get back on your feet. Believe it or not, losing that job was the best thing that ever happened to me. More than a few of my classmates say the same.
An add to the 'network like hell' tip -- consider volunteering some of your time to a charity. It's another way of getting out and about, meeting people with the same interests as you and generally taking your mind off the waits that go with all job searching.