From a Class of 2008 Alumni to Class of 2020 Alumni
For those who are graduating in year 2020, I can understand the anxiety and the emotions you are going through. I had been there:
I’ve gone through the 2008 financial crisis.
For those part of the graduating class of 2008/2009 from university, what’s going on right now in terms of job market crisis is probably not too foreign to you. Here is my story.
I graduated from university in Summer of 2008 as the same time as the 2008 financial crisis hit the world. I was a fresh eyed graduate and was lucky enough to obtain a full time employment with my bachelor of science degree after I finished my university.
During my 4th year of University, I suffered quarter life crisis. My skills set and undergraduate degree are deemed undesirable in the labor market place. All my close friends was able to secure full time employment 6 months before they graduated while I did not get a single interview with all the companies I applied for. I was so distraught and felt like a complete failure, sincerely fearing the uncertainty what future holds outside of university. I feared I would not be able to make a living, I feared I don’t understand how the world works (till to this day), I feared what I did not know. I seek counselling in university. I pushed all my close friends out, I was miserable. Eventually, I reached out to an old contact, hopefully what I demonstrated in my previous internship was good enough to secure the full time employment.
Fall of 2008, I was working full time in a financial service company, receiving a somewhat low but okay salary; living in one of the top ten most unaffordable cities in the world. My friends whom I spent my lunch hours with often talked about their 5 digit bonuses and they were all my age, as I was thinking that bonus could last me for 3 months. My company office at the time was right in the town center where all the actions were happening. Everyday I would take the metro into the city and prided myself working in the prestigious financial district and being optimistic about my future in the city.
I was having a time of my life.
I had financial independence and afforded small weekend trips outside the city or splurging on dinner out with my friends. I was 25, I felt optimistic. In Feb/March 2009, that’s where it all came crashing down.
At hind sight, I should know the impending doom was coming. In Feb, our company had a town hall where my company president mentioned cost cutting measure. But I was naive and didn’t understand what it all meant.
On the fateful day, I went to the office like I usually do, during mid day. We were called into a separate room, where half of our team members were separated. As naive as I was, still smiling to my team mates as we parted ways to a different room. I still remembered the face of my supervisor, how sad he looked as he saw us went to a different room. He knew what was happening. I sat down with few of my other colleagues, admittedly I was getting excited since this is something different from my day to day. As I sat down, I saw one of the manager walked in and was whisked away by another manager. Then in walked a really well dressed gentleman whom introduced himself as the HR person and he announced regretfully that we were all being laid off effectively as of today.
I was dumbfounded, the immediate action he said was to hand over all our badges and we need to go back to our desks to pack our belongings. As I walked out of the meeting room I noticed whole floor was emptied and we can’t say good bye to any of our colleagues.
I wept as I packed my belongings and the manager who hired me was there. He saw how distraught I was, he tried to comfort me. After packing our belongings, two of my team members decided to meet at a coffee shop close by. We wept and trying to take it all in and understanding what was happening. I brought all my belongings and while I was taking subway home, I felt like the world was ending. I was so upset because as a fresh graduate of science degree, it was already hard to get a job and when I finally found one, and I was let go.
It was the darkest two months of my life. I don’t think I was depressed, but I cried in my room most of the time, sobbing uncontrollably. Worrying about how long the savings will last, and can I continue to live in the city. How long will I be unemployed for. I was closed off except to a few close friends whom I shared my story. I don’t think I told my 5 digit bonus circle of friends, they found out somehow. I did not know how I felt at the time, my friends who know I was let go understood I was going through the tough time.
In April/May 2009, I was starting to see help was coming my way, my friends lent me helping hands during this time, introduced me to a part time job working as a barista to pay my bills, and helped me with my resume and interviews. I moved into an apartment with my friend so i can pay cheaper rent to survive. Eventually I was able to land another permanent job which I needed to move to a different city within the country.
I survived the 2008 financial crisis. Fast forward 12 years later, now as the world is facing another crisis that is bigger than the 2008 financial crisis. Looking back, I don’t know if there is anything I would do differently in 2009. The 2020 world is so different from the world in 2008. To the graduating class of 2020, you can survive this crisis as well. As long as you remain hopeful, adaptable, and continue to seek help, you will come out on the other end. I am lucky still be employed during this COVID-19 crisis, but I know nothing is certain and permanent, I am prepared for the worst. Yet, I remain calm and willing to accept what life throws at me.
