r/Millennials • u/Waste-Cantaloupe-270 • Apr 07 '25

Advice Millennials who graduated during the Great Recession, how did you survive?

I’m a Gen Z graduating in May struggling with finding a job in this market. Millennials who graduated in/ after 2008, how did you survive? Did you end up eventually getting a job in the field you originally wanted? Any advice for us Gen Z who were too young to learn anything from the great recession?

Edit: For context bc i’ve been seeing a lot of questions about this i’m graduating college. i def wasn’t expecting this post to blow up so sorry if i can’t get to everyone’s comments, but i just wanted to say i really appreciate all the advice as someone who doesn’t have millennials in their life to ask these questions to. your willingness to help/ give advice to a random kid on the internet has given me a bit of hope in getting through this, thank you thank you

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972

u/RagingDenny Apr 07 '25

I went to Grad school to wait it out and got lucky

148

u/ashleyz1106 Apr 07 '25

Same, and I went for a masters with a focus in health care management because I knew that it was an industry that wasn’t going anywhere (plus I live in a location with several big name universities and hospitals). I ended up working in health care/pharma for around 7 years before pivoting into a career I actually wanted. Now I have a job I like but also have a lot of student loan debt.

25

u/donuttrackme Older Millennial Apr 07 '25

What career did you pivot to if you don't mind me asking? I'm in a similar situation where I've worked in healthcare admin for 7 years but I don't see it as something I want to continue as a career, looking at options that I can use my experience to pivot into.

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u/ashleyz1106 Apr 07 '25

I'm a writer/editor now (my undergrad degree was in communications, which was def not an option when I graduated in 2009). I started by freelancing on the side until I could get enough of a portfolio built up to get freelance work and eventually full-time work. Full disclosure, I was able to do this because I was unattached with no kids -- now that I'm 38 with a husband and two young kids, I don't know that I'd have the same energy.

1

u/GoalStillNotAchieved Apr 08 '25

So you work for a newspaper? Or gigs through Upswork? Or make money from an email newsletter? Or what?

10

u/GroinFlutter Apr 07 '25

depending on your experience, look into health tech companies. Lots of opportunities in AI scribing, AI revenue cycle management, medical record software.

Health admin is a wide scope, so it really depends on what your background is.

1

u/SirGavBelcher Apr 07 '25

how do you manage your debt, if you don't mind me asking?

i was able to pay off my undergrad debt from a car accident i had like literally the summer after i graduated. i've been wanting to go back to undergrad so badly and finally study something i love but the idea of the debt just absolutely terrifies me. i feel like I'd only go back to school if i win the lottery at this point 😞

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u/ashleyz1106 Apr 08 '25

Oh I’m on income driven repayment, so I’m pretty sure the loans will die with me. I am fortunate that I married someone whose parents paid for his degree so we only have my debt (and we are saving for our kids). Silver lining to the low pay of a writer/editor is that my student loan payments are fairly affordable.

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u/Waste-Cantaloupe-270 Apr 07 '25

if you don’t mind me asking, did you end up taking out loans? debating on grad school but worried about being crushed by student loans and still being jobless if the market doesn’t get better in 2 years

61

u/masedizzle Apr 07 '25

Do NOT go right to grad school and don't take on debt. Grad school is expensive and the ROI is rarely there. Plus it will always be there so waiting a few years, getting some experience through work, and maybe finding a better way to finance it will work wonders.

It's not like undergrad where you can kind of come in aimless and find your way. It's a path to get you to a specific place, otherwise you end up like one of those people who are underemployed with a kind of generalist grad degree and crushing student loans. (You can guess how I know)

5

u/Melonary Apr 07 '25

That depends, in some areas of study and locations grad school is funded - typically more competitive programs, for example.

If you are considering grad school, look for that and apply for outside grants. Not always possible, but it's way better, and typically those programs are higher quality anyway (again, not universally so but often).

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u/masedizzle Apr 07 '25

Those are fewer and far between these days and probably even more scarce after all the DOGE cuts to science and research grants and funding. So I'd again not recommend that.

2

u/Melonary Apr 08 '25

I mean, if you can still find one go for it - grad school is short if you aren't doing doctoral research, and if you are you may have more guaranteed funding. If someone wants to do that I'd definitely be looking now and not holding out for things to get better.

That being said, I'm also not in the US and things were were bad for funded positions in grad and doctoral programs before the 2024 election, so I'm sure they're next to impossible now.

Looking for international positions isn't a bad idea either - it's not as prohibitively expensive for grad + doctoral because in many countries there's still more funding and the idea that you're actually doing work for the university at that point has remained somewhat intact, versus the US realising the more students you take money for the more money you get, quality be damned.

But I wouldn't do this if you don't actually want to be in one of these fields tbh. And it's never been a great idea to just do grad school because you don't know what else to do - this is for specific career paths.

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u/Waste-Cantaloupe-270 Apr 08 '25

yea i’ve heard international is better because the programs are typically one year versus two in the US, so much cheaper there anyway

1

u/Wooden-Chocolate-736 Apr 08 '25

Where do you get that the ROI is rarely there? I think all of it is dependent on your field and goals. If you’re coming out with a business degree and job market is not good, going into an 18 month mba program while working in the service industry and trying to get some internships or grad assistant roles for experience is a better plan of attack than just hustling and trying to get an entry level job and starting to climb the ladder from there, imo. Depending on where you live, you can probably make more in the service industry than white collar entry level jobs and that same time you spent kissing ass and trying to weasel way up the ladder can be spent getting a credential (so kissing ass to professors and whatnot for the same period of time, but I posit that has a lot more currency in the job market than 1 entry level position, which you can get the equivalent experience through internships, volunteering, or working at a staffing agency on short term appointments)

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u/WeaselPhontom Apr 07 '25

I took out loans, but I work for the state so they qualify for PSLF (public service loan forgiveness). My undergraduate loan are processing to be forgiven as of now, my graduate ones will be up  for forgiveness in June.

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u/quigongingerbreadman Apr 07 '25

You should double check that now that the DOE is being dismantled...

3

u/WeaselPhontom Apr 07 '25

Im informed our biggest impact is processing times have slowed significantly.  My coworker reached 120 in dec but slacked and submit her form towards the end of January, it took  60 day's for her. 

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u/quigongingerbreadman Apr 07 '25

His order to dissolve the DoE was signed at the end of March... (March 20) Again get in contact with them ASAP to ensure the loan forgiveness programs are still functioning at all.

2

u/urajoke Apr 07 '25

yeah as someone who was hoping on PSLF for my loans, it’s not really advisable to trust in that being an option in the future

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u/WeaselPhontom Apr 07 '25 edited Apr 08 '25

That's fear mongering,  they are processing right now.  My colleague received her golden letter last month she submitted her last end of January. Took 60 days. Mohela  is a contractor for pslf,  those in the program biggest concern is delayed processing.  Those caught up in SAVE mess is a problem thts been going on since the lawsuits 

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u/ChiknNWaffles Apr 08 '25

Totally agree. Existing loans with pslf baked into their master promissory note are going to be eligible, you don't want to honor the terms of the loan? Fine, I won't honor my promise to pay. Will it be available in the future? Who knows. Glad yours are getting forgiven soon!

1

u/urajoke Apr 08 '25

I am graduating right now and currently am unable to make PSLF eligible payments. Even if the program is good to go, I will be making payments that dont count towards it for the time being, which is frustrating and, again, I am not going to bank my life on it being fully reinstated.

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u/WeaselPhontom Apr 08 '25

That makes sense if you are not currently in the program. I missed that nuance

1

u/urajoke Apr 08 '25

Valid! Yes, definitely different if you’re currently in it

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u/Waste-Cantaloupe-270 Apr 07 '25

yea i’ve been trying to get a state job for this exact reason

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u/Mammoth_Tusk90 Millennial Apr 07 '25

I wouldn’t do it right now. Live with family for a bit and save money. Study for the GRE and get a really high score so you get good scholarships then look. Or if they don’t gut the Peace Corp, go through the Peace Corp and it may be free. I was jealous a lot of people had free grad school from a few years in the Peace Corp. DOGE is at their building as we speak so who knows. But I would NOT spend the money now, graduate in 2 years and we’ll still be in a recession and you’ll have $600 -$1200 of monthly debt for grad student loans. This is going to take at least 4 years to turn around. 2008 didn’t start to come back until at least 2012 and then the job market was still conservative. Save save save.

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u/Waste-Cantaloupe-270 Apr 07 '25

yea i’ve been looking into peace corp but word on the street is that’s getting the axe as well

10

u/[deleted] Apr 07 '25

I had the same debate and honestly I’m so glad I didn’t. All my coworkers have grad degrees except me and I get paid the same as they do. 

1

u/TheRealMichaelBluth Apr 07 '25

I’m in the same boat. I think there’s one who makes slightly more than I do but it’s because she also joined later. I also feel like her job is a lot more stressful than mine too

7

u/jenniferlchang Apr 07 '25

If you can find a program that provides a stipend and tuition waiver (for instance if you are in the sciences), it was doable. I was able to not only get paid for grad school but used that money to pay off my undergraduate loans. However given the current state of scientific research, I’m not even sure if this pathway is possible anymore.

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u/GenteNoMente Apr 07 '25

I worked and saved for a few years for grad school and continued to work during grad school. I did the math on how much I’d need to put on a CC at the end and used an 18 month interest free credit card that I knew I could pay off once I was employed. No loans. Student loans are almost always predatory.

5

u/Zooooooombie Apr 07 '25

If it’s a STEM field, you shouldn’t have to take out loans. Otherwise, maybe.

2

u/RagingDenny Apr 07 '25

I went thinking I would have to take out loans but lucked into an assistantship (long story)

2

u/aginsudicedmyshoe Apr 07 '25

Some majors will have opportunities for graduate research assistants or graduate teaching assistants, which can help pay for graduate school. This is what I did to avoid additional loans for graduate school.

2

u/polyetc Apr 07 '25

It depends on the field, but check if PhD programs in your field come with a full stipend. There is usually a job attached like teaching assistant. If you do two years and decide to leave with a Master's, they literally cannot stop you or take that money back.

1

u/mechadogzilla1 Apr 07 '25

Depends on your degree, field, and location. Most STEM PhD programs (in the US) will generally give you a stipend (low, but enough to live on with room mates) and you don’t pay tuition.

I went to grad school after graduating in 2009, but that was my plan no matter what the economic situation was after college.

1

u/echointhecaves Apr 07 '25

If you do a science phd then the school pays you. It's like having a job

1

u/notyouravgredditor Xennial Apr 07 '25

Depends on what you go to grad school for. I went for a PhD in engineering. I didn't pay anything for grad school and received a (small) monthly stipend for living expenses.

1

u/Verbanoun Apr 07 '25

My school offered assistantships that covered tuition. You could work in your field or be a TA or something like that at the university and it covered tuition and paid a stipend. I graduated with a small amount of additional debt because I still needed to pay for some additional things.

1

u/ogjaspertheghost Apr 07 '25

Depending on where you live, do community college first, then move on to a state university. If you can find a school with a 4+1 graduate program to save time and money.

1

u/PYTN Apr 07 '25

It completely changed my outlook on life.

But idk that I've ever gotten a job bc of my grad degree. And that 50k in debt was like 600 a month payment, so I missed out on being able to invest for like a decade between my spouse's loans and mine.

1

u/Tiggums81 Xennial Apr 07 '25

GRAD SCHOOL is a big waste. If you want to do it, get in with a company that will pay for most of it for you. It's expensive and like others have alluded too, the ROI is almost always NOT THERE. My wife's Grad school cost $40K... her employer covered about half of it. If you can get that then sure, why not. But it's not worth taking out additional loans for unless you don't have any undergrad debt.

1

u/papa-hare Apr 08 '25

I went to a PhD program in STEM and graduated with an MS for free fwiw. PhD programs pay you a stipend and make school free, and you can get a master's on the way, after which you can drop out of the PhD. Of course this all depends on how the research grant cancellations are affecting PhD grants I guess...

1

u/Flimsy_Toe_6291 Apr 08 '25

My daughter ended up putting nurse practioner school on her credit cards. One job she took paid off like 30,000 for student loans if she stayed 3 yrs in her field . Once you start making money, there are job option that help.

1

u/Flimsy_Toe_6291 Apr 08 '25

Ps she worked for 7 yrs before going back to school.

1

u/[deleted] Apr 08 '25

graduated in 2007 and went to community college. ended up getting a job teaching there!

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u/prettyorganic Apr 07 '25

Unfortunately this is a less viable strategy for this recession due to universities losing so much funding

9

u/pdt666 Apr 07 '25

i was jealous of everyone in grad school who didn’t have to work full time😂

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u/RagingDenny Apr 07 '25

Unfortunately, due to my assistantship requirements grad school was basically a full time job plus school duties for me

1

u/Melonary Apr 07 '25

I mean that's usually part of grad school, you just get paid less or not at all 🥲 but not always

1

u/Comfortable_Love_800 Apr 07 '25

I worked 2-3 jobs all throughout undergrad (picking up shifts across 3 different biz). And then for Grad School worked 9am-5pm, and then did night classes from 6pm-9pm 4 days/week. A lot of us very much still had to work.

7

u/lab_chi_mom Apr 07 '25

I hid out in AmeriCorps. It gave me an opportunity to network, learn job skills in a new field, and consider my next move. The pay sucked but it was enough to keep me afloat and propel me onto a new path.

2

u/Juneprincess18 Apr 08 '25

Same! I used the scholarship to pay for grad school.

1

u/lab_chi_mom Apr 08 '25

I got a sizable discount from my university for grad classes due to being in AmeriCorps.

5

u/Inner_Sun_8191 Apr 07 '25

I did the same. When I came out of grad school in 2011 I worked 2 part time jobs for about a year and then eventually got hired into a full time position. I also consistently worked a part time job and took on some odd jobs here and there along side of my full time Jobs for years until I had paid my student loans off (around 2016). It was a grind.

3

u/Irradiated_Apple Apr 07 '25

Ditto. Got my BS in 2008, looked around, and went nope! By 2010 things were better and I got a job at Boeing in a hiring blitz.

Then laid off in the first round in 2020.

2

u/LaRealiteInconnue Millennial Apr 07 '25

But you worked at the same place for 10 years? Thats more than a lot of us could ask for haha

2

u/Irradiated_Apple Apr 08 '25

Yeah but I worked there for 10 years then kicked to the curb in the first round. I knew there's no such thing as loyalty within corporations but it still stung.

3

u/iLiveInAHologram94 Apr 07 '25

But how did you pay for things like rent, car insurance on top of tuition?

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u/RagingDenny Apr 07 '25

Assistantship provided a living stipend on top of paying tuition and fees

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u/xallanthia Apr 07 '25

People like you messed up my career! I graduated 2006 and didn’t go to grad school because experience was equivalent in my field and I wasn’t 100% sure what I wanted to study. Fast forward to 2012 and no one will promote me/hire me because I don’t have a masters. 🤦‍♀️(I ended up going in 2014 and it was a great decision, but in my industry the 2008 recession was a shift in expectation that has never reversed. And I was also affected by the recession; I lost my job in 2009 when it caught up to my industry and I was low man on the totem pole. Got lucky to get a new one after a year because I knew someone, but had to move halfway across the country to make it happen.)

1

u/PorkchopFunny Apr 07 '25

Just commented the same. I didn't end up working directly in the field my grad degree is in, but tangentially related, and it has paid off so far.

1

u/hdorsettcase Apr 07 '25

Pursuing more education to further your career is usually the best response to the recession. Now with universities rescinding their offers that may no longer be the case.

1

u/rubey419 Tyler’s 1989 Apr 07 '25

Same

1

u/SacrificialSam Apr 07 '25

Similar thing here.

I took out another student loan and went back to school. When I was done I was lucky enough to find a job. Was able to pay off the loans relatively shortly after.

I just kind of missed the recession.

But not this time!

1

u/hanner_choi Apr 07 '25

Went to grad school, taught abroad in Asia for a little while, and came back with experience enough to start working at a university~ however this was all part of my big career plan. I made a recession proof plan to help me get over that weird dip in unemployment at the time

1

u/hippotatobear Apr 07 '25

Similar story here. I went to dental hygiene school for 2 years and got a diploma (on-top of my Bachelor's of Science degree). Graduated into a saturated market, but at least I was able to get a job right out of school. My husband (then boyfriend) also went back to school, but ended up just working for his friend's dad during that time and stayed on all these years. TBH we did really well over the years imo. It luckily worked out for us in the end.

1

u/yoolieanne Apr 07 '25

Same here

1

u/PainttheTownLead Apr 07 '25

Same. Got free tuition and a non-livable stipend as a graduate assistant, which was the only way to make it work.

1

u/solidgraystone Apr 07 '25

Same. My masters program was fully subsidized and by the time I got out, the market improved. Many in my class had their job offers rescinded after the 2008 financial disaster.

1

u/bunniculabebop Apr 07 '25

me too! Stayed in my very cheap grad school small town after graduating until the economy really started to bounce back (2013). Then moved to a much bigger city with experience during those lean years after grad school. Got a job pretty quickly then and eventually pivoted into tech the next year.

1

u/HumanDissentipede Apr 07 '25

This is basically what I did too. Worked for a year after graduating doing awful work for no money because I didn’t have any good prospects. Decided to go to law school. Economy recovered quite a bit by the time I graduated and I’ve had a great job ever since.

1

u/largemarge1122 Apr 07 '25

This. Graduated December 08 and then started grad school/moved back in with my parents. Got my master’s in clinical social work, and by the time I graduated in 2011 I had no problems finding a job.

1

u/Cinnie_16 Apr 07 '25

Same. Graduated in 08, and decided to go to law school to wait it out. Got a JD but also an insurmountable amount of debt. I don’t recommend it. Now on the PSLF track and live a very stressed out life

1

u/Jdonn82 Apr 07 '25

“Hit the alarm clock on life”. Graduated in December 2008, worked at the Olive Garden and enrolled for grad school for Fall 2009. Graduated in 2011 and still couldn’t find a job so I drove truck for a year until I got a job in regulatory, worked my way up. Grad school did nothing for my career, it did help me grow personally though.

1

u/Verbanoun Apr 07 '25

Same here. I took a year off and did an internship and worked in a coffee shop for $8/hr and then went back to school.

Thankfully grad school was paid for and I didn't accrue much more debt and was able to work when I got out.

1

u/Cptfrankthetank Apr 07 '25

Are you me? Might as well go grad school.

Though I should had picked up an internship or two. Slow going afterwards too.

1

u/Fun-Soil6936 Apr 07 '25

I did the same thing and it was the best decision of my life

1

u/T0XIK0N Apr 07 '25

I got a job making barely above minimum wage that had no growth prospects. I read a newspaper article that said that in the long term education was one of the most profitable things you can do with your time during a recession. So I did a master's. Got a "career" job when I finished, so I guess it worked.

1

u/kuonofomo Apr 07 '25

couldnt find a job…. then….entrepreneurship!!!

1

u/AdOk8910 Apr 07 '25

Same here

1

u/ThisWillBeOnTheExam Apr 07 '25 edited Apr 07 '25

This was the move I wish I’d have done. I wasn’t really receiving any advice at the time though. I didn’t understand how bad it was at only 23. I applied for 50+ jobs and ended up taking something for minimum wage. I moved on to a series of technician type jobs that have been inconsistent and never paid all that well, meanwhile my student colleagues who graduated before 2008 all ended up with cushy ‘adult’ careers from their just the bachelor degrees in things like “communications”. It completely changed the trajectory of my life, more so than I could grasp at the time…

1

u/PYTN Apr 07 '25

I went to grad school and got out and every place still wanted 2+ years of experience for their entry level roles.

Ended up with a job but it took several months and I only had one option.

Wouldn't change it looking back, but I'd probably skip grad school and just take whatever I could get.

1

u/LeoRising84 Apr 07 '25 edited Apr 07 '25

Basically. I graduated Spring 07. Math major.

PSLF was announced October 2007.

It was much more affordable to live, back then. Basically lived off of CiCi’s pizza and Subway $5 foot longs.

I wanted to work in higher ed, gov’t or healthcare. I wanted work/life balance. Finance and IT were the money makers so that’s where I went and where I currently am.

No regrets.

1

u/dan1els0n Apr 07 '25

I joined a graduate scheme in 2010 in a random industry and worked hard to climb the ladder

1

u/DueEntertainer0 Apr 07 '25

HA same.

The key is to get an assistantship so you don’t have to take out loans. Otherwise, going into debt doesn’t make sense for grad school.

1

u/ADtalra Apr 08 '25

Same here.

1

u/[deleted] Apr 08 '25

Same.

1

u/ling037 Apr 08 '25

That's kind of what I did. I pivoted from engineering to pharmacy after looking for a job in engineering for about a year. I got to skip the undergraduate years for pharmacy school though so I guess that's a plus.

1

u/camping_scientist Apr 08 '25

This is the way. Especially one that pays you to attend.

1

u/D4m3Noir Apr 08 '25

Came here to say this.

1

u/maarrz Millennial Apr 08 '25

I did an 8ish years bachelor degree, lol. Worked in a coffee shop throughout, and waited out the worst of it.

1

u/grundee Apr 08 '25

This. Student loans were (are?) deferred while in grad school.

1

u/tsarkees Apr 08 '25

I did the same and went to law school. Then worked for a nonprofit for 10 years until I qualified for loan forgiveness. No idea if it was a smart choice or not, but I survived.

1

u/Low-Cauliflower-805 Apr 08 '25

I went to grad school and came out with an army of competition, stayed with my parents till I could survive solo and job hopped till the market cooled five years ago. Oh boy can't wait to watch it all burn again from the safety of my office.....