Pittsburgh MBAs Fight Bleak Job Market

Pittsburgh, Pa. -- My husband and I are both highly educated business professionals. We have MBAs from the University of Pittsburgh and degrees in accounting and marketing. Both of us are out of work and for the most part have been since we moved back to Pittsburgh from Norway in late 2008.

There was a time, not too long ago, when an MBA degree was the coveted ticket to a high-paying job. The recession has changed that with even those MBA graduates from tier-one universities like Stanford and Harvard find that they are waiting longer to find jobs.

What Can You Do When Waiting for a Job?

In our situation, it became apparent rather quickly that my husband, who was a high-level financial officer for several years, was going to find it difficult to get a job at the same level during this recession. He had interviewed for a lower level financial manager position with a Pittsburgh company only to lose it to another applicant with a CPA. It became apparent that we needed a new plan.

With the job situation even bleaker for high-level finance and accounting jobs, than for mid-level jobs, we made the decision for my husband to forgo searching for a job and instead focus on passing the difficult Pennsylvania CPA exams. Since many, US companies look for controllers and CFOs who have a CPA license it seemed like a good move. While my husband concentrated on getting his CPA license, I began searching for a full-time position in order to supplement our savings and provide our family with health insurance. When we first moved back to Pittsburgh from Norway, we were paying over $1,300 per month to insure our family of five. This was a big expense for a family, who was living off their savings.

The Job Hunt for a Sometimes Stay-at-Home Mom

With an MBA and a degree in marketing, finding a job shouldn't be that difficult. Unfortunately my job history, like many working women that I knew, was more than a little splotchy. I had several large employment gaps, where I had taken time off work to stay home with my children. I will admit, for the record, that I prefer being a stay-at-home mom to working. However, since my husband had sacrificed quite a bit selling his home in Oslo and moving 4,000 miles to my home territory, it made sense for me to go back to work. I adjusted my resume, contacted a few recruiters, and scoured the online job sites, like Monster.com and Careerbuilder.com, sending applications for any open positions that I was qualified for.

After two-months of job searching, the results were terrifying. I received just one interview and lost the position to another applicant. I was told that I was their second choice, but that hardly buoyed my declining spirits. A few weeks later, early in 2009, I received a full-time job offer to work as a closing coordinator for a title company, located just ten minutes from my home. The job paid little, but I was thrilled none-the-less.

Common Misconception: Low Level Job = Easy Job

The position I was hired for required nothing more than a high school degree. I thought it would be an easy job that would soon turn into a higher paying supervisory position. I was wrong. While the work was uncomplicated, the demands were difficult. I soon found myself working six days a week, 10 to 12 hours on weekdays. The work, while not difficult, was very demanding. I saw several single moms fired because they were unable to work the required overtime due to daycare issues. After seven-months, I left the position for another position with a local nonprofit. Sadly, that position lasted only four-months due to budget cuts.

My husband has passed the Pennsylvania CPA exam and has registered with several recruiters and management for hire companies. He has not yet found a position, but is in the running for a temporary assignment in Anchorage, Alaska, of all places. I am receiving unemployment, and the COBRA subsidy is helping us pay for health insurance. Writing for online has been a Godsend as it is a great way to supplement our income from unemployment. We are fortunate to have little debt and to still have some savings, but with two children shortly beginning college, and a savings account that will soon be depleted we need the economy to pick up soon.