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Finding your first job out of college is certainly a challenge this day and age, but even more so with some of the liberal arts degrees that don't send you out into the world with an "in demand" skill. So, you will have to be a bit creative and flexible. If you can't find a job in the career you hoped (theatre), you have a few choices:
1. Go back for your masters. This time, think of a skill that is in demand in the business world, that would also dovetail well in your natural abilities. I would suggest considering sales, marketing, human resources, etc. Or, you could build on those same strengths and do something in public administration (Get you MPA), where you can work for city planning, non profits. Or even a masters in social work, counseling, etc. No matter what you are considering, make sure you do your homework on the job market. Last thing you want is to spend the money and time for a masters and not find a job again!
2. Try to get a job in a related field such as voice overs, radio sales, advertisement - all of these you may be able to find without getting a different degree. Be ready to work hard and show your new boss that you don't mind putting in the time or effort. Once you have proven yourself and have a few promotions under your belt, no one will care what your major was.
3. If you have a low need for material possessions, you could become a drama teacher or a director/manager of a community theater.
4. If you are patient and have a low need for material possessions, you could keep working at getting that break in acting. I would suggest one of the above plans as backup!