Tech Jobs Lose Allure, Study Says

Technology has lost its allure and title as industry-of-choice for most college students, according to online recruiting services firm WetFeet Inc. In WetFeet's annual Student Recruitment Report, only 5% of the 2,000 students polled ranked Internet/dot-com as the "hottest" industry, compared with 36% last year.

"Last year's students voted it hot because they didn't know what the Internet industry was," says Mike Boyd, independent consultant and former HR practices program manager at research firm International Data Corp. "They saw instant wealth. So they headed out for the gold rush, got burned real bad, and the rest of them back in school heard about it."

As a result, interest in traditional industries, such as management consulting, pharmaceuticals/biotechnology, and investment banking, rose considerably in the study. "Students still want the wealth, but they are more interested in a career," says Boyd. In fact, the study found that compensation ranked lower than several other factors when mulling job offers. Students deemed challenging work assignments, good relationships with colleagues and bosses, and training more important to their career decision-making process.