The current recession is deeper and already longer than any since World War II. This caused big trouble for managers in their 40s and early 50s. They tend to be more expensive than their younger counterparts; they may lack some of the high-tech savvy needed to succeed in a more efficient workplace; and they face a downsized job market that will stay that way much longer than usual.

According to Wharton finance and statistics professor Francis X. Diebold, co-director of the Wharton Financial Institutions Center, the current employment picture is closely aligned with the depth of the recession. “If the recession really did bottom out in February or March, and if we stay on track and start growing at a positive rate by the end of this year — which is by no means certain — it could still be 2013 before we see some significant employment optimism.”

Many companies laid off mid-to-senior level managers because they were expensive. It was particularly hard in IT industry. If you are one of those older managers that are struggling to find job, here are some helpful hints for you.

Go International: Many companies in emerging markets are looking for talented and well connected foreign nationals. Your first step will be to network with headhunters in your target market and check the job listings in top two job portals in your target country.

Go Teach: If you have passion to teach, getting a teaching job in schools/colleges will be an ideal option. If you have Ph.D, you will find the doors wide open for you in online universities; they need well qualified teaching professionals to teach their popular courses.

Go Consult: If the above choices don’t work out for you, become a consultant in the domain of your expertise.