Laid Off at 60: What to Do Next

Posted on December 28, 2012 by Helen Comments Off

By Kate Ashford

Losing your job in your early 60s can be painful financially and emotionally, but these seven tips will help you move forward.

You’re in the prime of your life, just a handful of years from retirement. So what do you do if your employer gives you a pink slip and sends you on your way?

It happened to Robert (his name has been changed for privacy), now 62, about a year and a half ago. “I thought, ‘I am not ready in any way to be without a job,’” he says. “I was too young to be retired, I wasn’t ready to be retired, and I had to start looking for something else. And it became apparent pretty quickly that another job wasn’t going to come along in a hurry.”

The hunt for a new job at 60 can be daunting. After all, your age and experience may mean you’d come with a fairly expensive price tag, making you a less attractive candidate to some employers than applicants in their 20s or 30s. Many employers don’t leap to hire people in their 60s.

What to do? Financial advisers and career pros offer these seven pointers:

Gauge your financial situation. Before you dive into the want ads, “assess where you are financially,” says Sheryl Garrett, founder of Garrett Planning Network. “How long can you go without a paycheck before you’re broke? And what kind of income do you need in that next position?”

You may find that you no longer need to earn what you did at your last job.

Do some serious soul searching. Losing your job could be just the impetus you need to think hard about the type of work you want to do at this stage of your life. You may decide that you don’t want to work in your previous field any longer or that you don’t even want to work for someone else.

“When I asked a client who was a hospital administrator, ‘What would you ideally be doing?’ he told me he wanted to have a bait and tackle store,” Garrett says. “It’s not out of the question to consider a position in a whole new field that would give you personal satisfaction.”

Consider setting up shop. At your age, with your experience and expertise, you might be in the perfect position to hang out a shingle or act as a consultant in your field.

If so, start by creating a business plan. Then look for experts who can act as a sounding board, like ones from SCORE, a national nonprofit affiliated with the U.S. Small Business Administration that counsels small businesses. (You’ll find some practical SCORE articles for entrepreneurs in the Launching a Business area of Next Avenue).

You might also find a community college class that can teach you how to start your own business. “A lot of adult education classes are specifically geared toward this,” says Eileen Freiburger, a financial planner in Manhattan Beach, Calif.

When you go out on your own, it helps if you are covered by your spouse’s health insurance plan, at least until Medicare kicks in at 65. But there are other ways to score benefits. For instance, you could take a part-time job that provides health insurance while you’re building a business on the side. Says Garrett: “A couple of friends of mine went to work part-time for Starbucks.”  (Employees of Starbucks get health coverage if they work at least 240 hours per quarter.)

If you look for another job, plan on a smaller paycheck. After layoffs, men and women 62 and older who return to work collect paychecks that are 36 percent less than their previous salaries, on average, according to the Urban Institute. For those 50 to 61, the average pay cut is 20 percent.

That’s not so surprising when you consider that an employee who has been in the workforce for decades may be at the top of his or her field. So replicating that pay isn’t easy.

If you hold out for exactly the salary you just lost, you may never find it. Think carefully before turning down a great job that pays less, especially if your cash reserves are running low.

But if you really need that income, when you apply for a job, “it’s worth a heart-to-heart with the hiring manager,” Freiburger says. “Ask, ‘If I take this salary, could I expect a bonus? Is there anything I could do — such as accreditation or continuing education — to get up to the next pay tier?’”

You may need to take a full-time job regardless of salary just for the health benefits. “At this age and stage in life, health insurance may be as important as the paycheck,” Garrett says.

When interviewing, commit to the company. One of the disadvantages of being an older worker in a job interview is that you can’t plausibly promise the employer that you’ll be on board for the next 20 years. But this doesn’t mean you need to share your plan to retire in five years or so if that’s what you’re planning, experts say.

“During the interview, say, ‘I really want to be a part of this company,’” Freiburger says. After all, who knows? You may not be ready or able to retire as soon as you expect.

Rethink your retirement age. Maybe you’ve been set on retiring at age 65. Unfortunately, if you just joined the unemployment line, this goal may no longer be realistic.

“The idea of being 60 and almost ready to retire, it’s an illusion,” Garrett says. More than a third of workers expect to work past 70 or never retire, according to a survey by the Transamerica Center for Retirement Studies.

This doesn’t mean putting the proverbial pedal to the metal through your mid-70s, however. You might look for a full-time job that requires fewer hours — 40 per week, say, instead of the 60 you put in before you were laid off.

Or you might take a full-time job and gradually scale back hours, through a phased retirement. (Read the Next Avenue blog post, “Phased Retirement: What You Need to Know,” for the pros and cons of this employment strategy.)

Figure out when to start collecting Social Security benefits. If you’re in good health and longevity runs in your family, financial planners often recommend waiting until full retirement age — currently 67 — if you can afford it, to maximize your lifetime benefits.

You can generally start taking Social Security at age 62, but you’ll see bigger checks for each successive year you wait — even after your full retirement age — until you reach 70. “Assuming you have a reasonable retirement nest egg, you may be better off spending down your investment portfolio for a few years in exchange for waiting to collect Social Security in your late 60s,” says Rick Kahler, a financial planner in Rapid City, S.D.

Social Security’s online estimator tool will let you see the approximate size of your monthly retirement checks based on your actual earning record. But it pays to have a financial adviser run the numbers to determine the best time for you to start collecting benefits.

Kate Ashford is a freelance journalist who writes about personal finance and health. She’s a contributing writer for Money, and her work has appeared in more than 20 national magazines and newspapers, including Family Circle, Fitness, Good Housekeeping, Health, More, Parade, Parents, Real Simple, Redbook, Self, Shape, Woman’s Day, and Women’s Health. Online, she’s been a contributing blogger on AOL and RealSimple.com. Prior to going freelance in 2007, she held staff positions at both Good Housekeeping and Money, where she covered personal finance, insurance, travel, and consumer trends. She’s also held freelance positions at Kiplinger’s Personal Finance and Entertainment Weekly. She has appeared on CNN, ABC, CBS, and local New York TV stations, as well as several radio shows. She was nominated for a Business Journalist of the Year Award in 2008.

 

Unemployed

5 Reasons Your Online Networking Efforts Aren’t Working

Posted on December 4, 2012 by Helen Comments Off

By RITIKA TRIKHA

December 4, 2012 RSS Feed Print

The majority of your job hunt should be spent networking, but what do you do after you have exhausted your list of contacts in your immediate network?

One option is to network online by sending emails or LinkedIn messages to successful professionals in your industry whom you haven’t actually met. In other words, you can “cold-call” professionals online.

It’s not easy though—who has time to answer unsolicited emails from people they don’t know? If you’re skillful in your efforts, however, you can be successful in growing your network. To maximize your chances of actually networking with someone you don’t know, you have to make sure the message is succinct, genuine, and something they can respond to easily.

These are common reasons why your online networking efforts are going to waste:

1. You’re asking too many questions in your message. Be respectful of your recipient’s time. There’s a reason why LinkedIn’s message cuts you off after 150 characters in the subject line and about 7,000 characters in the message. A list of questions can be extremely off-putting. Keep it succinct to just your most important, burning question. After they respond, you can follow-up with more questions or ask to set up a quick informational interview via email or phone.

2. You aren’t using the “introduce” feature on LinkedIn. If you’ve tapped out your first-degree connection LinkedIn network, you can always take advantage of the “introduction” feature to tap into second-or third-degree connections. Having someone vouch for you is a great way of increasing your chances of landing a new connection.

Browse professionals in your industry and look for folks who share a connection with you. Then, you can request an introduction through one of your connections.

3. You’re only reaching to far-fetched professionals. If you’re an entry-level or mid-level professional, your cold networking list should be a mix of folks who are both high- and mid-level. If you only send out emails to VPs of Fortune 500 companies, for instance, you aren’t really giving yourself a fair chance.

While it’s great to reach out to people you admire most, there’s a lot of benefit that can come from connecting with mid-level professionals, too. And you’re way more likely to get a response from them.

4. You’re point blank asking for a job. Networking isn’t about immediate results. It’s about building mutually beneficial relationships. Avoid getting carried away and asking about the job prospects at a particular company. Keep it more general and discuss your overall career—and look for ways to add value for your desired connection.

5. You’re using a generic template. According to her recent article in the New York Times, Courtney Baxter, a recent graduate from Denison University with a bachelor’s degree in gender studies, landed a dream job by “writing an e-mail version of one of those half-court basketball shots.”

When Baxter sent a quick email asking for career advice from one of her idols, Courtney E. Martin, author of Do it Anyway: The New Generation of Activists, she never thought Martin would actually respond. Her message to Martin, however, was not only in line with some of the points above, it was also genuine:

“I can only imagine how busy you are and so I know this may be a big request, but if you could spare some time for coffee and some advice, I can’t tell you what it would mean to me. Without sounding overly adoring, I just hope that in 10 years I’ll have accomplished anything close to what you have, and the work that I’ve seen you create and been able to make happen for yourself (and others) has given me a glimpse of hope that I will be O.K. and I can have the big dreams that I do.”

Through her networking efforts, Baxter is now a full-time assistant at OpEd Project, a nonprofit organization.

Ritika Trikha is a writer for CareerBliss, an online career community dedicated to helping people find happiness in the workplace. Check out CareerBliss for millions of job listings, company reviews, salary information, and a free career happiness assessment.

Jobs , , ,

7 Tips for Handling a Blemish on Your Resume

Posted on November 20, 2012 by Helen Comments Off

By LINDSAY OLSON

November 20, 2012 RSS Feed Print

Sometimes your professional past isn’t as squeaky clean as you’d like. You might have an embarrassing gap between jobs, or maybe you were fired and worry about how to explain that to potential employers. Interviews are like landmines: How do you avoid those areas of discrepancy on your resume or put yourself in a positive light, despite your past mistakes?

1. Avoid the temptation to lie. Lying never got anyone the job, so resist the urge to cover up your past errors. Instead, try to avoid the topic unless your interviewer brings it up. “Don’t be the one to bring up any weak points in your work history, but if they do come up, handle them gracefully,” says Keren Douek, director of recruitment services at JobDreaming.com. “Don’t lie, but don’t linger, either. Answer any questions directly, but don’t feel the need to elaborate too much or go into a great amount of detail.”

2. Focus on the positive. Your interviewer doesn’t expect you to be perfect, so don’t try to sweep your mistakes under the rug. Instead, guide the conversation to what you learned from your mistakes, says Katie Farrell of Come Recommended.

“Along with honesty, job seekers should directly assess what they learned from the experience and how they have improved. They can also talk about the plan they have set in place for these actions to never occur again.”

3. Be prepared. The worst thing you could do in an interview is stumble when you’re asked about the blemish on your resume. Instead, Nicole Lindsay of DiversityMBAPrep.com says, “be prepared with a response. Expect that the question item will come up.”

Lindsay says it’s a good idea to consult with a mentor or peer to determine the best way to describe the issue so that it doesn’t send up red flags for a potential employer. Having a succinct way of explaining what happened can keep you from being embarrassed, and most employers will simply move on to the next question.

4. Find the best wording. Sometimes it’s not what you say, but how you say it. Lindsay says you should “use words that minimize the magnitude of the issue—use ‘let go’ instead of ‘fired,’ use ‘not forthright’ instead of ‘lied.’” Smoother wording can help you even out bumps in your background.

5. Be the bigger person. It can be tempting to dive into a he said/she said situation, especially if you feel you weren’t in the wrong. But you should resist. Douek says: “Be the bigger person. If you’re asked about a negative work experience or a business relationship that didn’t end well, don’t get petty or get caught up telling your side of the story. Keep your explanation simple and light. You don’t want to come across as bitter, even if you secretly are.

6. If you were fired … There’s no need to go into detail as to why you were let go, unless a potential employer asks point blank. Again, use softer wording, and focus on your accomplishments rather than the negatives of your past work history.

7. End on a positive note. What you want a hiring manager to remember about you is how great you are, and why you’re qualified for this role. “Regardless of the topic, come up with a way to give it a positive spin, Douek says. “If you were let go from a previous position, you could talk about how you gained so much from the experience, you understand why they had to make cutbacks, or how the timing was right for you because you were ready for the next step in your career,” she says.

Bottom line is: The “problem spots” on your resume should not be huge issues if you’re qualified and enthusiastic about the job. Don’t dwell on mistakes you’ve made in the past. That way, the employer won’t either.

Lindsay Olson is a founding partner and public relations recruiter with Paradigm Staffing and Hoojobs.com, a niche job board for public relations, communications, and social media jobs. She blogs at LindsayOlson.com, where she discusses recruiting and job search issues.

Interview, Resume , ,

The Internal Interview: How to Nail an Interview at Your Current Company

Posted on November 8, 2012 by Helen Comments Off

by Jessica Taylor — November 8, 

You’ve been thinking about making a lateral jump within your company, and you’ve had your eye out for marketing positions for months. Or, your boss knows you’ve been looking to switch into a more creative role, and she’s recommended you for an editorial position in another department. And now, you’ve found yourself with a new job interview—with your own company.

This type of interview might initially seem like it should be less stressful than one you’ve scheduled with an outside organization—but a lot of times, it’s actually more difficult. While the surroundings might be familiar and your interviewer might even be a friendly face, you can’t lose sight of the fact that this is a new position, and you’re likely being evaluated against a slew of other candidates.

That said, being an internal candidate can be a big advantage if you take the right approach. Here are some ways to prepare for an internal interview that can give you a surefire leg up on the competition.

Ask Permission, Not Forgiveness

First things first: Before you even consider applying for a different role within your current place of work, make sure you talk the decision over with your current manager. Why? Well, because word is bound to get out, and you want your boss to hear it from you, not from someone else. Plus, remember that whether you get the job or not, you’re still going to be at the company. And the last thing you want to do is ruffle feathers of any leaders who can impact your future.

Now, if part of your rationale in seeking a new job is to escape a less-than-perfect boss, this can be a little tricky to navigate, but it’s still the appropriate (and safest) way to proceed. And hey, you don’t have to give him or her all the reasons you’re looking for a new role. If you aren’t sure how to go about this, set up a meeting with your HR department to discuss the new position. Many companies even have their own internal processes for employees who want to change roles, and you want to be sure to cover your bases.

Do Your Homework

One benefit of interviewing within your current place of work is that you have easy access to insider info on things like the people sitting on the interview panel, the team you’d be working on, and the parameters of the open position.

Use this to your advantage. Once you’re confirmed as a candidate, start reaching out to any colleagues you feel might be able to help you or give you insight. Try to get a clear picture of what the role will involve and what the hiring managers and your prospective new boss are reallylooking for. If you have a trusted co-worker in the department you’d be moving to, ask for her honest feedback about how you might impress the interviewers, and see if she’d mind helping you run through some potential interview questions or nail down talking points. This is where you can really gain a leg up on any external candidates.

Be Prepared

Sure, you’ll be showing up at the same building you work in every day, but when it comes to your interview, bring the same poise and professionalism you would if you were interviewing with an outside company. This means: Be 100% prepared to answer tough questions and show why you’re the right fit for the position (aside from the fact that you know the ins and outs of the company).

Also, don’t assume that anyone is familiar with your work and accomplishments, even if you’ve been there for a while. Bring your resume, work samples, and an internal reference list—it’s a great way to demonstrate your credibility within the organization.

You should also be ready to talk about your prior experience outside of the company. Sure, they know you, but they may not know (or remember) much about what you’ve done before.

Dress the Part

It should go without saying that interview dress code is important—but it’s especially true when you’re within your current organization. Dressing the part of interviewee shows everyone that you’re taking the process seriously and that you understand the importance of the new role. The last thing you want to do is give the impression that this is “just another day” or that you deserve to get the position without really trying. So whether your typical work ensemble is casual or business formal, pull out that suit on interview day.

Follow Up

You may have just interviewed with someone who you see in the cafeteria everyday, but it’s still a good idea to follow up your interview with a thank-you note. This is a great opportunity to reiterate your interest in the position and thank your interviewers for their time. Personally, I’m a stickler for sending a quality, hand-written note. It may take a bit more time, but it adds a personal touch and level of professionalism that’s somewhat lacking in an email. (Plus, you can drop it in the internal company mailbox—no need to wait for tomorrow’s mail pick-up!)

Above all, when preparing for an internal interview, it’s best to approach the opportunity with the same professionalism you would an external one, while using the fact that you already work there to your advantage. Take the time to prepare carefully, learn about the position, and anticipate what the interviewers will want to know, and you’ll be sure to knock ’em dead.

 

The Daily Muse is a rapidly growing community of women (and dudes!) who believe that kicking ass and taking names is all part of the job.  Our goal: to provide engaging job search, smart career advice, and long-term professional development. So buckle up, Muses, and get ready for the ride.

Interview

What Not to Do When Networking on LinkedIN

Posted on November 2, 2012 by Helen Comments Off

 BY 

Yesterday, I was speaking at a business group on the concept of career management, and among the many topics I covered, we discussed networking. Particularly, the do’s and don’ts of how to do it right.

Then, ironically, I received the following astounding e-mail shortly after my speech concluded. As an open networker, I don’t mind connecting to folks, but when any of us get messages from someone we’ve never met or interacted with (like the one below), we totally cringe:

Good afternoon Dawn,

Thank you for connecting with me via LinkedIn. I’ve been with (ABC Company) for 5+ years. During that time I’ve managed to elude the rounds of layoffs due to the economy…until three weeks ago. Please review my Linkedin profile, endorse any of my qualifications you deem appropriate and should you hear of any job opportunities in (state), I hope you will reach out to me or point them in my direction. I have been in the (XYZ) industry for many years, have stellar references, am extremely hands-on, and strategically capable. Thank you in advance for your any assistance you can offer.

With kind regards,

Person A

What do you think is wrong with this picture??

This person didn’t get it… at all – which was my first impression. But as a career services provider, I saw someone who was basically becoming their own biggest obstacle to their job search.

So, I sent the following e-mail back in response:

Dear Person A,

I got your message and wanted to respond with some insights that will hopefully help you with your job search. Please accept this advice in the helpful spirit in which is intended.

The message you sent (not sure if you are sending other ones out that are similar) was extremely off-putting – not many people would take the time to provide the reasons as to why, but please forgive me as I am currently channeling my inner career coach right now…

Asking for endorsements from someone you don’t know one iota simply comes across as very desperate, and not very focused. It would be better if you asked folks that have first-hand experience with your performance and abilities, rather than asking complete strangers to do this. From the “other side of the coin” perspective, this request comes across as an attempt to leverage my reputation (and subsequent endorsement) for your own personal gain… most folks would walk away, seeing this as unethical.

Additionally, requesting to connect then immediately turning around a demand for any job leads seems very entitled. “I don’t know you- why on earth should I help you?” is what most people would think once they read that part of your message.

Having worked with many folks in the exact same situation as yourself, my advice is to take the time to build up a meaningful connection before making any kind of “ask” – otherwise, you risk alienating people rather than galvanizing them to act on your behalf.

Another helpful suggestion is to pay attention to where the contacts are located; I am in Oregon, so what would be the odds that I would have a lot of connections in (state)? Not very good. Try to find the best-connected people in YOUR target area… that’s critical.

Also, as a job search advisor, I frequently coach clients and speak to groups about the value of setting up a job search that is focused on target companies, then leveraging your existing network of contacts to make connections at those top businesses. That’s how networking can pay off.

I understand that you are likely in “panic” mode which precipitated the e-mail that you sent, but you’ll be much more effective if you work to build meaningful connections, cultivate the ones you have, and are as specific as possible about target companies that you would like to reach.

Hope this helps, and I wish you best of luck in your job search… I know this is a tough time, so hang in there.

Best regards,

Dawn

Of course, it occurred to me this person might take my message the wrong way and I would get back an ugly response. But I hoped that they wouldn’t.

Fortunately, I got an e-mail back that was very appreciative, and the person actually checked on their end and was chagrined to see they had sent me the wrong e-mail content. But the important message here is any time we reach out to someone we don’t know, we need to be mindful of how we are coming across and careful about what we send to them. One networking mistake can completely blow our chances of ever having developed a meaningful relationship with them!

About Dawn Rasmussen

Dawn Rasmussen is president of Portland, Oregon-based Pathfinder Writing and Career Services, which provides resume, cover letter, and job searching assistance.

Networking ,

How to Answer “Where Do You See Yourself in Five Years?”

Posted on October 29, 2012 by Helen Comments Off

I’m sure you’ve been asked this question at an interview at some point in your life.

Coming straight from the ‘stock questions to ask interview candidates’ manual, the “Where do you see yourself” question sits neatly alongside “What’s your greatest weakness?” and “How would you deal with a difficult situation?”

It’s a lazy employer who asks one of these ‘difficult’ questions. Both sides could probably just as well do the interview over the phone and save everyone a lot of time!

Unfortunately, if you want the job you’re going to have to sit through these painful interviews and prepare to give the same stock answer.

When thinking about what you need to prepare for the “Where do you want to be in five years?” humdinger, you’re going to have to refrain from saying “sipping a cocktail on a desert island after winning the lottery”, and give a more considered answer.

This question is essentially asking you where you see yourself in the company should you get the job. It’s asking you to highlight your ambitions and your dedication to your career — are you genuinely interested in the business, or are you just using them as a stop-over?

However, it’s also one which could land you in it. Aim too high and you’ll come across as being too keen – aim too low and you’ll be seen as lacking in motivation.

So how do you get the good fit?

Pick up any interview tip book and the white bread answer goes something like this:

“I see myself as a productive member of the [Marketing] team.  In five years’ time, I hope to have progressed within the business to be a team leader, helping the company succeed in its operations”.

Yawn!

Although you could be tempted to go down this path, do you really want to rehearse the same, tired answer which other candidates will have given, time and time and time again?

In order to answer the question fully and really stand out in the interview, you’re going to have to be able to show your commitment, while highlighting your skills, your ambition and your motivation at the same time.

Step 1 – Research the company

In planning your answer, make sure you research the business fully and what the department you’re applying to be part of actually does. What are their goals? What is their strategy and vision? Try and tell them something they don’t know themselves.

Step 2 – Write down your skills

What are your greatest skills that you have which you can bring to the business? What have you got which no other prospective candidate they’ve seen has? Think of this part as hitting their impress button.

Step 3 – Show motivation

By being able to reassure the interviewer that you’re ready to make a long-term commitment to the company and will grab any promotion which comes your way with both hands will get them thinking they have an ambitious candidate on their hands.

Putting them all together. . .

“I’ve been a long admirer of [company] and the way it [does this / and that]. You have a real reputation for delivering excellent [services / products] – I even [used this / that] the other day! My skills in [marketing] have helped my current company achieve [this] and I believe that they’ll transfer seamlessly to the role of [role x]. In five years’ time I hope to still be with the business, perhaps even leading the [department] team, but I know that there will be many great internal opportunities that could be a good fit for my skillset and interests.”

Ta daa! A great answer to a stock question. Of course, you could then be thrown the “What if there are no internal opportunities over the next five years” hardball.

Well isn’t that something you want to know? Bat that one back at them – after all, they won’t want to appear to be an employer which has no career progression in place.

When you look back at where you were five years ago, you’ll probably not have pictured yourself where you are now.

If you honestly have no clue about your future goals, then don’t feel like you have to lie. Although five years is a long time to plan for and the chances of you being in a different job, and even a new career are very high, you still need to prepare for that dreaded question cropping up. The employer wants to see how motivated you are and if you’re a good fit for their business, so prepare a well-thought answer.

How do you answer the question “Where do you see yourself in five years?” Let us know in the comments!

By Dominic Wake | Website | Other Articles

Dominic Wake is Director of ETS plc where he is responsible for leading human resource projects across performance management, development and engagement.

Careers, Interview, Jobs , ,

5 Things You Must Discuss with HR Before Accepting a New Job

Posted on October 24, 2012 by Helen Comments Off

by Terri Tierney Clark — October 24, 2012

After months of job search agony, you might have an urge to immediately accept any offer you receive. But before you give a final answer, take time to learn a little more about what the company has to offer. Remember, now your potential employer is trying to sell you, and that means you can ask important questions about benefits and compensation that may have seemed pushy or self-serving during the interview process.

Now, I should mention upfront that not every applicant will have the power to negotiate the benefits below—your experience and expertise will strongly influence how much bargaining power you have. A senior hire may find that almost all contract points are negotiable, whereas a recent college grad will have less power to change the package.

The size and structure of the company will also impact your ability to negotiate. A large company will likely have greater resources to expend on employee benefits, but it also may have more intractable policies, giving you less flexibility to adapt your benefits than you might find at a smaller company.

But regardless of your seniority or the type of company you’re joining, you should never assume that any offer is a take-it-or-leave-it proposition. Make sure you’re getting the best possible package by researching, asking questions, and discussing the following with HR prior to accepting any job.

Compensation

In many jobs, you’ll receive a base salary as well as additional incentive compensation—that is, extra pay based on performance. If you will receive any form of incentive compensation—be it commission or bonus—ask how that pay is determined. Is it based on a formula or objective criteria? What will it typically be as a percentage of your base salary, and what are the past high, low, and median levels for someone at your level? The more you know about incentive compensation, the easier it will be to structure your performance to maximize it.

Although each of these amounts is often highly negotiated by senior hires, junior employees usually don’t have much leverage. That said, if your potential employer offers you less than you had anticipated and it won’t move off that number, ask if you can receive a salary review prior to the standard review period. Large companies often can’t diverge from specified salary levels, but might see an earlier review as a way to reward you without breaking rules.

Moving Expenses

When I graduated from business school, I worried how I would transport my car to my new job, since I planned to fly rather than drive all the way from Boston to Washington. Then I read the small print in my HR packet. The company would transport my car for me at its expense! I’m not going to lie, I felt a little guilty watching my rusty 15-year-old compact being lifted onto the vehicle carrier—but it definitely saved me hassle and time.

Even if you’re moving from a dorm room to an apartment via your parents’ minivan, you do have moving expenses, and it’s worth asking whether gasoline and mileage is covered. Also ask about reimbursement for apartment-seeking expenses—even day trips to a new city result in subway, train, cab, meals, and tipping costs.

If you’re more established, you may also need to think about selling your home and buying a new one. Some companies will agree to compensate new hires for a loss on their home, or pick up the financing fees or closing costs on a new home.

All this said, make sure to ask about any contingencies tied to moving reimbursement. When I moved on to a new job 11 months later, I received a formal letter from my previous employer informing me I had to pay the company back for prior moving expenses, since I left before a year’s time. Fortunately, my former manager was able to intervene—but make sure you figure out beforehand if there’s a “clawback” of moving expenses.

Employee Education

Even if you can’t imagine returning to school, find out about your prospective employer’s continuing education and tuition reimbursement program. A few years down the road, you may realize you need an additional degree or even just a few courses to position yourself best for advancement.

In addition to finding out how much your company will reimburse you for further education, also ask questions to uncover how easy they will make it for you to receive it. The most generous companies will not only pay for your education, but also allow you time off to complete a degree. But, as with moving reimbursement, find out if there is a required payback in time with the company if you use a corporate reimbursement program for your education.

Vacation

You probably didn’t feel it wise to ask about vacation or sabbaticals when you were trying to land the job, but now’s your opportunity to learn about the company’s policies. How many days does the company offer each year? Are you allowed to roll over days from one calendar year to the next? Will you be compensated for the days off, or not?

Today, some of the more creative companies are offering flexible vacation trade-offs. One 2009 college graduate working for a defense contractor told me she took advantage of a company policy that allowed her to convert her overtime hours to vacation days and extend her vacation abroad with her boyfriend.

Work-Life Balance

As a single young professional in my 20s at Merrill Lynch, I never considered reviewing the policies that would affect my work-life balance, such as parental leave, flex time, telecommuting policies, or retirement benefits. But before I left the firm 10 years later, I was married, had two children, worked from home one day a week, and had contributed to my children’s college fund.

You may be far from building a family, but it’s worthwhile to check out how your company will treat you if you do. In the U.S., anyone—male or female—employed for at least 12 months by a business with a payroll of at least 50 people may take 12 unpaid weeks off and not lose his or her job under the Family Medical Leave Act. But the structure of these policies can differ: For example, some companies offer more than 12 weeks. And some companies compensate the parent for the time they are home, while others don’t.

Similarly, flex time, telecommuting guidelines, and savings plans—although possibly unimportant to you now—might later make the difference between maintaining your job with your employer and quitting down the line. Moreover, these policies can be a revealing measure of your prospective company’s attitudes toward its employees—especially its female employees.

Although a discussion with your prospective employer’s HR department may not seem important when you receive an offer for your dream job, these are worthwhile conversations to have. Not only will you reduce the possibility of surprises down the road, you may be able to adjust the offer in your favor. Remember, you never have more leverage than when you’re holding an offer you haven’t accepted.

ABOUT THE AUTHOR

Terri Tierney Clark edits a website called Advice for the New Careerist to help young professional women optimize their careers. She also manages an advisory business,Summit Equity Advisors which offers private equity-related services to financial services companies. Previously, Terri was one of the first female Managing Directors in the Investment Banking Division at Merrill Lynch, managed its Real Estate Private Equity Placement business and was elected to the firm’s first Women’s Steering Committee. Find her@TheNewCareerist.

Careers, Employment, Job Offer, Job Relocation, Jobs , ,

Why Finding Your Career Path is Like Choosing a Spouse

Posted on October 15, 2012 by Helen Comments Off

by Therese Schwenkler

“Five years ago, did you know that you were going to end up marrying Gretchen?” I asked my newlywed friend Rob, my eyes wide with curiosity. “I mean, how did you figure it out?”

Rob set his frothy pint o’ beer down on the table and looked at me with disdain.

“Therese, I’m not trying to insult you here, but your questions are so freaking STUPID! I’ve already told you a million times—there’s no possible way I could’ve known that I’d marry Gretchen. Five years ago, I hadn’t even met her yet! I didn’t even know she existed!”

“You mean you started out without knowing who you’d marry at all?” I asked in dismay. “And you’re saying that you didn’t plan to marry her from the beginning?”

“Well, of course not. I mean, how could I have known?”

I chewed thoughtfully on my Gardenburger patty for a couple of minutes, slowly digesting what Rob had just told me.

His amazing wife, Gretchen, didn’t come into his life through careful thinking or planning. He hadn’t, after some hard-focused brainstorming session, thumped his fist on the desk and exclaimed, “I finally know—it’s GRETCHEN I should marry!”

In fact, no amount of brainstorming, analysis, thinking or planning could have resulted in the answer of “Gretchen”—not ever.

I know this story sounds a little silly, but there’s a reason for that: finding your career and your life path really isn’t all that different than finding a hot and funny wife named Gretchen.

You don’t start off knowing the exact person you’re going to marry, and no one expects you to. In fact, to hold someone up to this expectation would be ludicrous.

So why do we expect this when it comes to our careers?

Why is there this ridiculous expectation that we should know from the get-go exactly what we want to do with our lives?

Contrary to expectation, some of the happiest and most successful people started off without a grand plan or a clear vision of what the endpoint would be—and yet they ended up doing insanely fulfilling, passion-igniting, made-for-them things. I’ve heard this from so many of my mentors, in fact, that I now believe career planning is a horrible idea.

It’s time to change the way we think about career planning, from a process in which we think and plan and analyze our way into the answers beforehand to a process more akin to finding a mate. So here are three reasons why finding your truest career path is like finding a spouse:

1. Experience matters

Back in high school, I used to have the hugest crush on…let’s just call the guy “Danny.” He was perfect in every way (or so I thought): he had beautiful blue eyes, he was funny and nice and smart and he was the star of the basketball team. Based on all rational thought, Danny appeared to be the perfect boyfriend. After lots of hard work and investment (er, stalking), my dream finally came true: Danny and I went out on a date.

Guess what? Dating Danny wasn’t nearly as awesome as I’d thought it would be. It turns out he wasn’t a great fit for me, after all—he smelled funny and our senses of humor really clashed.

Choosing a career without having any real life experience or opportunities for exploration is like deciding to marry Danny based on the view from the gymnasium bleachers. Regardless of how much thinking or research or ogling you’ve done, you simply cannot know beforehand what the actual experience will be like.

So how do you go on a date with your potential career? You do anything that helps you actually TRY OUT different options, even if you have no clue whether or not you’ll end up enjoying them. Volunteer. Get an internship. Start a project. Get involved in any way possible. You can do this even if you already have a full-time job.

2. We can’t possibly think our way into all the options

Five years ago, Rob couldn’t have identified Gretchen, regardless of how hard he’d thought or analyzed or planned. Why? Because he had no idea she even existed. If he had followed the traditional career planning model, he’d have thought through his list of contacts, scanned the personal ads for potential candidates and decided to marry Janet, who was nice but far less compatible.

When it comes to our careers, there are countless obscure options we haven’t been exposed to (or that may not even exist yet) just waiting to be discovered. In trying to think our way into the answers beforehand, we miss out on exposure to the Gretchens of the world.

How do we find our way into these options? Through experience. By going on dates with potential careers, we’re exposed to new contacts, new experiences and unforeseen opportunities that we never could have envisioned from the get-go.

3. We’re looking for far more than just a career

Traditional career thinking hinges on the fact that if only we could identify that one perfect career and get the job, we’d be magically fulfilled. HA!

Let me tell you about my friend Mark. Mark is married to “the woman of his dreams”—and yet, still, he’s unhappy. My friend Allison has attained the “job of her dreams” as an attorney—and yet, still, she’s unhappy.

In dating and in work, the same principle holds true: a career or a spouse alone will never fulfill us.

We’re looking for far more than just a career; we’re looking for ourselves. We’re looking for purpose and passion and meaning, and if we rely solely on an occupation (or a spouse) to give us these things, we’ll be sorely disappointed time and time again.

So there you have it: three reasons why finding your career path is like finding a spouse. When it comes to career planning, our traditional methods are flawed. Trying to identify a spouse a priori would be unthinkable in the realm of relationships, and it’s time we shifted the way we approach our career paths as well.

Therese Schwenkler, founder of TheUnlost.com, wants to show you how to “date” your way into your truest career and life path. For more details and little-known secrets on “career dating,” click here.

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Brazen Life is a lifestyle and career blog for ambitious young professionals. Hosted by Brazen Careerist, we offer edgy and fun ideas for navigating the changing world of work — this isn’t your parents’ career-advice blog. Be Brazen.

Careers

Why Your First Job Out of College Is the Most Important of All

Posted on October 8, 2012 by Helen Comments Off

By Allie Gray Freeland

Your first year out of college is filled with uncertainties.

You straddle a line between youth and adulthood, and you’re learning a lot about navigating The Real World. When once your life consisted of parties, test cramming, sleeping, attending lectures and hanging out with friends, as a graduate you face the stark contrast of a 9-to-5 obligation and a 10 p.m. bedtime.

On top of it all, there’s reason to believe your first job out of college is the most important you’ll ever have. Here why:

1. You’ll learn professionalism.

Truth: I was humbly told by my first manager to reconsider my work wardrobe. After that intense five-minute chat, I learned in a hurry what to and not to wear in an office setting. (Who knew that ladies’ night and a corporate environment didn’t have the same attire protocol?)

When thrown into a totally new setting, you’re faced with conforming to the professional etiquette of those around you. You’ll learn things as simple as office attire and how to use a fax machine while honing more complex skills like email formalities, presentations and communicating in a professional work environment.

2. You’ll learn from falling.

In my first job, I got a lot of criticism about my writing, time management and how I worked with coworkers—but I learned quickly how to fix these issues. You’ll inevitably face hurdles between college life and the working world, but it’s all about how open you are to learning from your mistakes and how hard you work to form new, positive habits and skills.

During that first year out of college, you’ll be thrown into new situations and tasked with bottom-line impacting decisions, whereas in college you were likely in an artificial environment that had no impact on a business or others. As you navigate through the real world, you’ll learn the ropes hard and fast. And, as you progress through life as a professional, you’ll be able to steer through situations with strength and grace after “falling” in your first year in the working world.

3. You’ll form your future.

Your first job serves as a springboard for your professional future. This can either help or hurt the newly employed. For example, if you land a job as a business analyst for a Fortune 100 company, you’ll likely have a better career trajectory than if you were working as a house painter or door-to-door knife salesman.

So if you do have the luxury of multiple job offers, think long and hard about where you see your professional future, and select the position that will get you there the quickest. If you don’t have your dream entry-level job, consider obtaining a specialized postsecondary degree in health, IT or other highly demanded areas.

4. You’ll learn exactly what you want to do in life.

When you’re forced to work an eight-hour-a-day shift, you really get a flavor for the industry and role you are in—and you can pretty quickly see where you want your future to go. Luckily, as an entry-level professional, you have the mobility to change your professional path.

That means if you cringe at the thought of going to work day in and day out, consider what you really want to do in life and make actionable goals to get there.

Do you agree that your first job out of college is your most important? Let us know in the comments!

Oh, and Editor Alexis Grant is looking for someone to write a counter-post on why that first job is NOT your most important. Wanna write it? Pitch her at alexis [at] brazencareerist.com.

Allie Gray Freeland is the Editor-in-Chief of CollegeOnline.org, where she oversees a network of degrees online and an online college blog. She has been in marketing for nearly a decade and received a Bachelor of Arts in Journalism from the University of Minnesota.

College Graduates, Jobs ,

5 Better Ways to Network on Twitter & LinkedIn

Posted on October 2, 2012 by Helen Comments Off

by  October 2, 2012

Social media was once described as a professional cocktail hour—a way to connect, share, and interact with others beyond the confines of your cubicle. But now, it feels more like an epic college kegger; the kind where you find yourself wandering in a sea of red cups, the clamor of rowdy partygoers drowning out any real conversation and eliminating the chance to forge relationships that don’t involve 3 AM tacos.

So, how do you bring that party back down to a reasonable size, and actually connect with people you want to talk to? Half the battle is being able to sift through the noise. Here are a few easy ways to identify and jump into the right conversations with the right people for you and your professional interests.

1. Seek out the Authors of the Content You Read

Who are the social influencers in your area of expertise? Identifying these people is particularly useful in seeking out great conversations. One of the best places to start is the blogs or websites you go to for content. Check out the authors—people who contribute to online publications usually have a social presence, too. Follow them on Facebook and Twitter, and take the time to let them know what you think. Comment on their articles or blogs, then take it a step further and tweet some feedback. Giving a compliment with some added insight on the topic goes a long way.

2. Become an Author Yourself

There’s no better way to join the conversation in your field than by writing on the topic—either on your own blog or for industry publications. Not only will you have something to readily share and discuss on your social networks, you’ll likely have people in your field reach out to you with comments and ideas of their own.

If you don’t consider yourself a wordsmith, stick to what you know. Think about what questions you get asked most often about what you do, and write down your thoughts. Once you get started, you’ll be surprised how much you truly have to say.

3. Leverage Twitter Keyword Searches

Twitter can be a great source of information, but it can also be one of the “noisiest” places on the web. So a great way to find people, filter tweets, and join a conversation is to search for keywords related to the topics you’re interested in. For example, if you work in social media, the most obvious place to start would be a keyword like “social media.”

Seems simple—but this isn’t a perfect science, and it requires some trial and error to see which keywords get you the results you want (for example, you might try “social media marketing” or “Twitter marketing”). Play around with different versions, and join the conversation when you find something of interest. Reply to people’s tweets and give your feedback or comments. Did someone link out to an article and give her opinion? Tell her that you agree or disagree and why.

4. Join Relevant LinkedIn Groups

LinkedIn groups are great forums for career-related discussions—members often share articles, ask questions, and start online conversations with each other. Do a quick group search on LinkedIn, and you’re likely to get a long list of niche groups within your field. That said, do your research to make sure that any group you’re looking at is a good fit for your goals and interests before you request to join. (If you’re work in healthcare marketing, for example, a general marketing group might not be the best fit.) If the group is open (vs. invite-only), take a look around at the discussions and members to get a feel for the content and makeup of the group and see if it’s a good fit.

5. Meet the People Who are Looking at You

Even if you haven’t upgraded your LinkedIn account, if your settings allow others to see who you are when you look at their profiles, you should be able to see who’s looking at yours. Scan this once a week and take a peek at who’s viewed your profile. When it’s appropriate, connect with these people, thinking about why they might have taken the time to look at your profile. Are they in your field? In your community? A recruiter? Reaching out to engage in conversation not only shows you’re paying attention, but also shows you’re open to forming new professional relationships.

Mallory Woodrow is a social marketing strategist at digital agency Enlighten, where she works on social content and strategy for large brands. In her spare time, she is a contributing writer for Entrepreneur Magazine, a blogger, and a shoe enthusiast. Follow her on twitter:@malloryloren.

 

LinkedIn, Networking, Twitter ,