<p>Many I bankers, venture capitalists, and other finance people now are in the position of hoping they can get SOME job, ANY job, to pay their bills. With their firms out of business, merged, laying off, they are unemployable as finance people. </p>
<p>Many of those jobs are gone forever with consolidation, not coming back. I suspect there will be lots of former finance types heading for graduate school trying to retrain in some career that continues to hold value. You cannot get rich working as an engineer, unlike finance, but they will still be building bridges even in a depression.</p>
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I wouldn't do a job I disliked regardless of the money. Whether we like it or not, our jobs are significant parts of our lives. I'd get depressed if I spend 10 hours a day every day not enjoying the work I do.
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<p>See above. Most people work because they need the money. If they like their jobs, that is a nice bonus, but largely beside the point. There are lots of employed depressed people. There are also lots of unemployed depressed people. Who is better off?</p>
<p>Here I agree with Sakky, at least if you go to an Ivy that can produce a conventional engineering degree. You get the option of staying in the program and getting that degree if the reality of engineering suits you, and you can do the work. If you change your mind, or have it changed for you, just major in something else. At many of the top engineering programs, particularly the state universities, you are admitted to the engineering program specifically, and if you decide it is not for you, changing majors is much less simple. </p>
<p>Now if you are fairly sure you want to be an engineer, and you are in the upper reaches academically (say you would have breezed into HYPSMC), then you are much more likely to actually graduate with your engineering degree, so the flunk out risk is low. For example, in spite of its rigor, MIT has a very high graduation rate, with almost everyone getting degrees in engineering, math, science or a highly technical version of economics. If you are one of these, then consider whether the relatively restricted engineering options at the Ivies with smaller programs fits you. </p>
<p>This raises a question I have seen discussed here before, but I am interested in other opinions. How good is a general engineering degree if you actually want a job as an engineer? Do employers take you seriously? Or do they insist on electrical, mechanical, civil, etc. depending on the job they are trying to fill? How would someone from a prestigious college that offered a general engineering degree, but not specialization do against someone from a traditional engineering mega house (Berkeley, Texas, Illinois...) with a specialized degree? How about an Ivy grad who managed to get in just enough for a "general" degree EE vs someone with a degree in, say, EE specializing in physical electronics from one of the giant state programs? Any engineers with opinions?</p>