Yesterday, I gave this advice to a student of mine who is pursuing a B.A. in English. I'm sure I omitted many, many things.
- Get an internship or summer job at some stalwart industry in the cultural field. In literature, this boils down to publishing or radio-- both fine careers for the Ivy Leaguer with a BA, but easier to break into when you already have some experience.
- Learn more about media and software. I can't tell you how many jobs for writers/lit majors also include either HTML/web knowledge or (even more often) public relations/advertising experience.
- A PhD in literature should be a last rather than a first resort. ;)