读研之后工作未必更好找

College graduates who took a detour around the weak job market by going back for advanced degrees are beginning to emerge from those programs-and finding job prospects aren't much better than they were a couple of years ago.

The jobless rate for 20- to 34-year-olds with master's degrees, though well below the overall 9.5% U.S. average, was 4.2% in June, the Labor Department said Friday, up from 3.9% last year and 2.9% in June 2007, before the recession started.

The economy has started creating jobs-albeit at a slow rate-in recent months. But those with new master's degrees often aren't at the front of the line to get them, say experts. One reason: They frequently compete for jobs that require those advanced degrees with older workers who have the advantage of more work experience.

Caitlin Johnson, 23 years old, may soon find herself among them. A 2009 graduate of Massachusetts Institute of Technology with a B.S. in computer-science and engineering, she said she was unable to land any of the 10 positions she applied for.

So she opted to stay at MIT for her master's in engineering. Having just finished her first year of the two-year program, Ms. Johnson said she might look for a job at the end of the summer to start after she completes the degree next year. But finding graduate school more appealing and facing a job market that remains weak, she said she would most likely go on to earn her Ph.D.

Should Ms. Johnson decide to opt for the job hunt instead of more schooling, she likely will face stiff competition. The number of 20- to 34-year-olds with master's degrees in the labor force in June was 12% higher than it was two years earlier. And first-time grad-school enrollment rose 4.5% in 2008 and 6% in 2009 across the country.

To be sure, some advanced degrees remain in hot demand, such as those in business and finance. 'It depends on the actual degree and the field you're going into,' said Liz Pulliam Weston, an author and personal-finance columnist. 'You shouldn't just assume if you got a degree, you're one step ahead of anybody else.'

Still, more education continues to mean more earning power down the road. In 2008, 25- to 29-year-olds with master's degrees earned on average $7,954 more than those with bachelor's degrees annually, according to the Census Bureau. But that difference could narrow as more qualified candidates take lower-paying positions in a tight job market.

Aneri Patel, 25, graduated from the University of North Carolina at Chapel Hill in 2007 with an undergraduate degree in international relations. She landed a good job with a consulting firm, but decided to go to the London School of Economics in 2008 to learn more about climate change and be a stronger candidate in the job market. She never imagined how bad the job market would get while she was overseas in graduate school.

Since returning from London in January-her advanced degree in hand-she said she had applied for dozens of positions, but had yet to secure work.

'With international work experience, coupled with my internships at fairly respectable places and my master's, I thought I'd get immediate interviews,' she said. 'It was tough.'

Competition for jobs is fierce, and employers can afford to be picky. Siemens Industry Inc., a unit of Germany's Siemens AG, said the good news for employers like them was that they were seeing an increased number of qualified candidates, and more with advanced degrees.

'We have frankly easy pickings; the quality is there for the taking,' Chief Executive Daryl Dulaney said.

Graduates, however, are facing a tougher decision-hold out for a dream job, or take what's available. Ms. Patel, for instance, said she really wanted a job that allowed her to pursue her passion for environmental issues.

'The question is whether you want to pursue your dreams or to have a job for the sake of it,' Ms. Patel said. 'I think that's kind of an unfortunate question to answer right now, when you're young and you want to make a real difference.'