Gawker provides the break down of the various avenues aspiring journalists have. And it isn't pretty. Here's a sample:
Ehhh. Lots of alt-weeklies slaughtered their staffs in the past year
or so, too. A job at an alt-weekly is a good way to break into
journalism and get some clips. If you want to build a career at an
alt-weekly, make sure the owner's not crazy, the publisher's not a
stingy bastard, and the editor is entrenched enough not to get deposed
(along with you) at the first sign of trouble. That's maybe, what, five
alt-weeklies in America? Good place to write angry essays, though.
I'm still fairly optimistic that newspapers, online publications and advertisers will forge a new, sustainable model for journalism. After all, without serious journalism, we cease to be a functioning society. And as long as people care about it, a we will find a way. But for now, as much as it pains me to say, if you're a recent grad student or in college, journalism is probably the last thing your want to think about.