New Grads Turn To Franchising Instead Of Finance
American City Business Journals/Boston:
When Tarang Gosalia entered Babson College as an undergraduate four years ago, his goal was to pursue a career in finance.
But Gosalia’s first job after graduating earlier this month won’t be at UBS or Fidelity Investments. Instead, he’s spending $385,000 in savings and a loan from his parents to open a frozen-yogurt store near Symphony Hall in Boston.
“The reason I wanted to go into this is because it’s a really poor economy and there’s not a lot of job security right now,” said Gosalia, who hopes to open the state’s first Red Mango franchise this summer.
Gosalia, 22, is not the only recent graduate pursuing an unexpected career path as the job market for students specializing in areas of business has rapidly contracted. Officials and students at Wellesley-based Babson and Waltham-based Bentley University, both schools specializing in business, said many students are struggling to find jobs, and those who have found jobs are often finding them outside the once-dominant field of financial services.
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