I think this is the key: "They feel like they've done everything that was expected of them." I understand this feeling but it is misguided. The reason is that

I think this is the key: "They feel like they've done everything that was expected of them." I understand this feeling but it is misguided. The reason is that their understanding of what's actually expected is not correct, because the expectation they follow has not been provided by the people who will ultimately hire them. The understanding of expectations is often provided by councillors or teachers/professors at high schools and universities (or parents). These people in general are horribly out of touch with the true expectations of an employer or requirements of entry level positions in the particular industry of interest. As a result students misguidedly follow these expectations and are suddenly struck with reality when they are done. The reality is that universities do not train students for the work place. They are money making operations whose goal it is to provide an education as a service (note: that an education from a university does not equate to workplace readiness). This means that if they think that they can attract students with a new buzzwordy program, they'll create that program and tell the students about all of the great opportunities that exist in industry (e.g. nanoscience or nanotechnology), when in fact no such opportunities exist. Universities are completely out of touch with the needs and desires of industry (one counter would be some eng. disciplines) or at the least their primary focus is not on those students who exit the program but rather almost entirely those students entering the program (more fuel for the machine). The same goes for more traditional programs (e.g. physics or CS), I've spoken to many professors over the years about job opportunities and they always talk about academia (which they know well) and the nebulous industry. My advice to students is to clarify what it actually takes to enter an industry early in the academic process. Perform market research and actually talk to people about their experiences (look at early resumes and CVs if you can). At the same time think about building up your CV with projects/initiatives/etc. that strengthen your softer skills (communication, leadership, project management, etc.). I didn't do the former very well but I did do the latter and it has helped me immensely (you must be able to distinguish yourself from the pack). Also work at building your network, this is key. Then once you get that job, look at the next rung up and "rinse, lather and repeat" the above process. Even if you want to go the startup route I would still recommend the above unsolicited advice.