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Technology has dramatically changed the way job seekers operate. The internet
now serves as the primary search and communication tool.
Be an educated candidate. Know the industry you’re interested in and the
companies that are the major players. Read trade magazines and keep abreast of
business news so you can have informed conversations with your interviewers.
When it comes time to accept an offer, take all the following factors into
consideration:
1. Salary
Calculating how much you need should be your second plan of action during your
job search. First, determine the type of job and industry you are interested in
and adjust your lifestyle to make this a reality.
Once that is determined, you will now need to determine your cost of living. If
you live alone in the West Village and are not getting any help from your
parents, you will require a higher salary than your friend who lives at home and
commutes in with her dad everyday. Be open-minded about lifestyle ideas so your
decision can be based on opportunity and career path, not merely on salary.
When calculating your living expenses remember that your take-home pay will be
about one third less than your net salary due to taxes.
What to include when calculating living expenses:
- Commuting costs
- Rent
- Utilities
- Food
- Clothing allowance (if you need to build a corporate wardrobe)
- Spending money
Ask any college grad, if spending and clothing expenses push your calculation to
$50k salary - you might want to recalculate because many entry level salaries
are lower and may require a bit of creative budgeting.
2. Environment
For some grads, the working environment can weigh in as heavily as the salary. A
good indication of corporate culture is the company dress code. Creative
companies are often more relaxed, although dress code has become more formal in
the past few years, rebounding from the ultra-casual dot-com days.
Start-ups and other creative companies may have cool music playing, have many
young people on their staff and be free of binding corporate structures. The
laid-back environment and later starting hours (but longer working hours) tend
to attract college grads.
Corporations and larger companies will have a more structured environment with a
more formal feeling and a tighter bureaucratic system. You can expect to have a
detailed job description with little deviation.
There are benefits to both types of environments and many companies fall
somewhere between the two extremes.
3. Benefits
Health insurance is expensive. With large companies you can expect medical
coverage to be 100% company-paid with plan options, while smaller companies may
require an employee co-payment (usually 20-30%) and one chosen plan.
Vacation time will vary from company to company but you can expect to start with
two weeks paid vacation, in addition to personal and sick days. Corporations
tend to honor more holidays than creative companies; although, most ad agencies
typically close the week between Christmas and New Year’s Day. Smaller companies
honor the major holidays like Christmas and Thanksgiving but may expect
employees to work on other holidays such as Columbus and President’s Day.
Most companies will offer a 401k retirement plan, an option where pre-tax
dollars (up to 15% of your salary) can be invested for retirement and withdrawn
after age 59-1/2. Many large companies will match your contribution up to a
certain dollar amount, greatly increasing your investment. Start investing now
to have a large savings for when you retire.
Don’t sweat it (too much)
Although your first job out of college is an important decision, it doesn’t
necessarily shape your professional life. The contacts you make, your
performance and how you blossom during this time will have a more profound
affect on your career than the first "perfect" job.
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