Just about the time my classmates and I were walking across the stage to receive our diplomas, the Wall Street Journal was already condemning us to a disappointing life of under-achievement.

Their article, “The Curse of the Class of 2009” details a Yale business school study on the annual earnings of graduates during a recession versus times of prosperity.  In addition to stating the obvious – that our class may earn 8% less in our first year, on average – the study also finds that the lag may continue 20 years past our date of graduation.

Though the study does set out solid historical precedent, I couldn’t help but be slightly offended by it’s implications.

Yes, we are graduating into what many economists are deeming the worst job market in recent history.  Strangely enough though, I think they said the same thing when I graduated with my undergrad degree in 2003.

Back then; we also had to compromise to get our first jobs.  The big difference was that the only individuals who “suffered” were the ones to not want to do anything about it.  In fact, most of us realized that breaking out of our doldrums was only a matter of not being dependant on typical career-paths.

Sure, the study makes excellent points about lower future earnings being statistically linked to holding previously low-paying jobs. However, I think there is a strong argument to be said that as long as you are willing to put in the time and effort, it doesn’t matter what your current job is or what you are being paid.

Out of the five hours of commencement exercises we had to sit through yesterday, Associate Dean Jon Lehman made probably the best point about our MBA classes’ situation.  During his address, Lehman said that our class “will be known as the one that graduated into a fierce storm.” Despite this truth being all to literal – the proceedings were ironically held under the threat of a severe weather warning – he also said that he knew that we would be able to outlast the storm.

In the end, who’s to say that we’re doomed to a statistically dimmer future than other classes?

If you ask me, I think the WSJ article was playing to the perceived reality of the situation. Call it the foolish optimism of a newly minted MBA, but as long as we do not let perception become prologue, I think the future is only what we decide to make it.