While investment banks and consulting firms have always formed the meat-and-potatoes of recruiting, technology companies are increasing their presence.
Some, like Internet bookstore Amazon. com, are tied to the market through their stock, but their business is less dependent on the market's strength.
The company is one of the poster children of technology wonder-companies that have had astronomical growth in a very short time.
Founded in 1994, the Seattle, Wash., firm's stock, fueled by high expectations, has grown tremendously this year.
But the success has been muted over the last three weeks, as the price dove from 134 3/4 points to 761/8 after Friday's close.
While the stock's dizzying progress has made headlines, the company says it is not focused on its market performance and will hire accordingly.
"As a company, our philosophy is to look at the long term," said Erynn B. Petersen, a company recruiter.
"We have very clear long-term goals. If we allowed ourselves to be swayed by market fluctuations, we would get nothing done," she said.
Kathryn A. Knowles, a recruiter with Austin, Tex.-based Trilogy, cautioned that even the smartest students aren't "immune from the economic downturn."
All the same, technology companies have tremendous growth potential and are constantly in need of new recruits, she said.
"Our biggest problem is that we're growing faster than we recruit," she said.
Beyond Corporate America
For seniors looking outside the private sector for the next year, the news is also encouraging.
Murray says the availability of graduate school loans is not affected by the stock market.
And opportunities in the non-profit sector are expected to improve with a rough market.
For instance, recessions are the peak of recruiting for the Peace Corps, says Rae M. Mims, spokesperson for the Boston affiliate of the international non-profit development agency.
"Economic downturns are our plus side. If they aren't any jobs, [students] come looking for us," Mims says.
As a whole, employers from Wall Street to Main Street emphasized that the stock market doesn't drive the labor market. When it comes to hiring, companies said that as long as Harvard produces the best, there will be a place for its graduates--at least as for now.
"There is a strong demand, and there will be a strong demand, for the brightest students," says Karen Kidder, a recruiter with the consulting firm McKinsey & Company.