Needing Experience is a Vicious Circle

Just read this read feedback in this month's CPA In the Black magazine:

I have been looking for a position as a graduate accountant for more than six months, and have been seeing employers who demand experience in an accounting practice. Experience, that's all they want. Do they not consider other values? We need to start off somewhere, to gain work experience and then complete the CPA Program. Many of us are commerce graduates and qualified to work as professional accountants. Yet we end up working casually as waiters, drivers or admin staff - none of which is our preferred career path.

How is that a vicious circle? I guess new grads can never be experienced and employable if they do not have an opportunity to get experienced. Professional Accounting has always been the gateway course to get you permanent residency in Australia if you are an overseas student, because somehow we need more accountants. However, thousands of Accounting grads every year does not seem to relieve any drought -- grads still cannot find suitable job, and we still need accountants.

The very same can be said about the IT industry in Australia. In July issue of Australian Personal Computers magazine, there's an article titled "The IT Job Crisis", pointing out there are simply not enough specialised and experienced IT workers. Lack of software developers has slowed down growth of many IT companies -- at least I know that we are. So much work, but not enough hands (to type on the keyboard). However, thousands of computer science/engineering grads each year ended up doing non-IT related jobs because their profile just do not fit the bill...

Personally I do not think "lacking of experience" is an issue though. Companies hire experienced specialists as contractors to finish off a project, but to really build a development team, I would rather hire a bright graduate than someone with 10 year J2EE or 5 year RoR experience. They would have fresher ideas, would be faster picking up new technologies, and would be more open minded than many that are more experienced. Too bad that smart kids are even rarer than experienced specialists. Even if we have found one, he would be too smart to work in a small ISV...

(One new guy started at work today, whom we interviewed 2 weeks ago. We are still hiring though.)