Have you heard? Our economy is not doing great. One cannot pick up a newspaper, read a website or hear a broadcast without stories about how the downturn in the economy is effecting everyone from Washington to Wall Street to Main Street.
People are scared. Businesses are assessing their credit availability and are avoiding making any large decisions until the first of the year. Hiring is slowing in many areas. Consumers are nervous about making big purchases, too, as they conserve cash - there is less money for businesses (vicious circle). Wall Street and Main Street are linked. The near-term outlook for everyone is bleak (I say "near-term because we should never forget that every down in the economy is eventually follow by an up-tick!) as everyone from the person on the street to our political and business leaders look for solutions.
So what does this have to do with networking? EVERYTHING.
If you want to recession proof your career you must have a network of personal and professional contacts who know and support you. Waiting to network until you are laid off or in need is a horrible strategy to protect your future.
All opportunities come from people. While a simple statement, it is one you must take to heart. If you lost your job tomorrow would you know where to start your search for your next career? Statistics show that most jobs are filled (directly and indirectly) through contacts. If your network is limited, you ability to discover opportunities is limited as well.
If you are concerned about how the economy might effect your future it is time for you to assess you commitment to networking. When you are in need and you approach people to build a relationship it is clear that you are in the game for your own reasons. However, when you are not seeking help and you establish a mutually beneficial long-term friendship, the other person will be there for you instinctively if your career gets sidelined. You will not need to sell yourself to others who already know about your unique talents.
Which of the following people would you naturally be more likely to want to assist?
1. You get a phone call from a friend-of-a-friend whom has been out of work for three months. You have never heard of this person, but she is aggressively seeking to get on your calendar to "network". When you meet with her she seems desperate for a job, and tells you all her woes about her former employer and how she did not see the lay-off coming. She tells you all about her financial situation and how she got a less than standard severance package that is not going to last much longer. Her resume is nice, but nothing in the written word stands out or makes you say "WOW". You know nothing more about this person than what you learn in your 45 minutes together in a Starbucks.
2. You get a call from a business associate whom you have known for two years. She has sent you several referrals and you see her regularly at the local business and civic events that you attend. She is always cheerful and enthusiastic, and people around town speak highly of her commitment to her chosen career. The company where she worked just closed down, and she is calling you to tell you about her job search and ask you for advice. You know first hand that she will be a great catch for any company, and that she will make you proud if you recommend her to anyone in your network.
Duh? Number 2 will have the power of her network, and yours, working for her. The first person will get a courtesy cup of coffee with several people, but very little help from folks.
Now, whom would you rather be if you are a victim of the bumpy financial times?
If you are not already a champion of developing a large circle of influence, do not wait until it is too late. Your network is MORE important than ever!!!
Written by Thom Singer
Tuesday, December 30, 2008
Sunday, December 7, 2008
Recession Proof Careers
I was searching the internet and came across this article by Larry Buhl, for Yahoo! HotJobs and thought that it was so appropriate based on the dissapointing unemployment rates coupled with the recession.
A steady stream of discouraging economic news is bringing with it talk of the dreaded "R" word. Economists at Merrill Lynch and Morgan Stanley say the U.S. is heading for its first-blown recession in 16 years, and a recent CNN poll found that 57 percent of the public believe the U.S. is in a recession already, with the economy topping the list of voter's worries.
A recession could hit some job-seekers hard. "A lot of people won't have the luxury of going for their first choice in a down economy," said Sophia Koropeckyj, an economist at Moody's Economy.com.
However, many employment sectors are expected to remain strong despite a possible recession, and job-seekers may have more success if they focus on recession-proof professions.
The Bright Spots
John Challenger, CEO of outplacement firm Challenger, Gray and Christmas, told Yahoo! HotJobs that careers in the following fields may offer a good chance of weathering a storm this year.
* Education. The U.S. Bureau of Labor Statistics has historically shown teaching to be relatively recession-proof. But demographics are important: High-growth areas like the Sun Belt offer much better prospects than the Rust Belt.
* Energy. "This is a major issue for the global economy, and jobs related to oil and gas, alternative energy and even nuclear are likely to see strong growth," Challenger said.
* Health care. Almost half the 30 fastest growing occupations are concentrated in health services -- including medical assistants, physical therapists, physician assistants, home health aides, and medical records and health information technicians -- according to the U.S. Bureau of Labor Statistics.
* International business. "If you have a strong knowledge of other cultures, and an ability to work in another country, you'll find plenty of opportunities," according to John Challenger. "If you're first generation Chinese, with business skills and Chinese language skills, you're in good shape.
* Environmental sector. There is a huge and growing industry geared to combat global warming. "Not only will professionals with skills in sustainability issues be in demand through the end of the decade, we are likely to shortages of professionals with 'green' skills," said Rona Fried, president of sustainablebusiness.com, a networking service for sustainable businesses.
* Security. "Crime doesn't stop during a recession, and police officers, port security specialists and international security experts will continue to be in demand," Challenger emphasized.
Other Sectors Feel the Slump
Koropeckyj and other economists agree that many troubled industries will feel the pain from the deflating housing bubble.
"The housing slump will touch anything related to housing, from real estate to investment banks, to engineering and architecture," Koropeckyj said. Though public sector jobs grew at a fast clip in the last five years, state and local government jobs are likely to slow as home values, and, consequently, tax revenues, sink.
The housing slump could even extend to industries dependent on discretionary spending, like restaurants and retail, she indicated. Manufacturing, too, long in dire need of an upswing, is likely to keep waiting for one through 2008, Koropeckyj said.
A steady stream of discouraging economic news is bringing with it talk of the dreaded "R" word. Economists at Merrill Lynch and Morgan Stanley say the U.S. is heading for its first-blown recession in 16 years, and a recent CNN poll found that 57 percent of the public believe the U.S. is in a recession already, with the economy topping the list of voter's worries.
A recession could hit some job-seekers hard. "A lot of people won't have the luxury of going for their first choice in a down economy," said Sophia Koropeckyj, an economist at Moody's Economy.com.
However, many employment sectors are expected to remain strong despite a possible recession, and job-seekers may have more success if they focus on recession-proof professions.
The Bright Spots
John Challenger, CEO of outplacement firm Challenger, Gray and Christmas, told Yahoo! HotJobs that careers in the following fields may offer a good chance of weathering a storm this year.
* Education. The U.S. Bureau of Labor Statistics has historically shown teaching to be relatively recession-proof. But demographics are important: High-growth areas like the Sun Belt offer much better prospects than the Rust Belt.
* Energy. "This is a major issue for the global economy, and jobs related to oil and gas, alternative energy and even nuclear are likely to see strong growth," Challenger said.
* Health care. Almost half the 30 fastest growing occupations are concentrated in health services -- including medical assistants, physical therapists, physician assistants, home health aides, and medical records and health information technicians -- according to the U.S. Bureau of Labor Statistics.
* International business. "If you have a strong knowledge of other cultures, and an ability to work in another country, you'll find plenty of opportunities," according to John Challenger. "If you're first generation Chinese, with business skills and Chinese language skills, you're in good shape.
* Environmental sector. There is a huge and growing industry geared to combat global warming. "Not only will professionals with skills in sustainability issues be in demand through the end of the decade, we are likely to shortages of professionals with 'green' skills," said Rona Fried, president of sustainablebusiness.com, a networking service for sustainable businesses.
* Security. "Crime doesn't stop during a recession, and police officers, port security specialists and international security experts will continue to be in demand," Challenger emphasized.
Other Sectors Feel the Slump
Koropeckyj and other economists agree that many troubled industries will feel the pain from the deflating housing bubble.
"The housing slump will touch anything related to housing, from real estate to investment banks, to engineering and architecture," Koropeckyj said. Though public sector jobs grew at a fast clip in the last five years, state and local government jobs are likely to slow as home values, and, consequently, tax revenues, sink.
The housing slump could even extend to industries dependent on discretionary spending, like restaurants and retail, she indicated. Manufacturing, too, long in dire need of an upswing, is likely to keep waiting for one through 2008, Koropeckyj said.
Thursday, November 6, 2008
Ten Tips on Making a Successful Career Change
Are you looking for more than just a better job? Are you looking for a more rewarding profession, one that better aligns with your skills, interests, values, and plans for the future? If so, be prepared to face a lot of reflection and planning. It’s important to take a serious look atthe many possibilities and outcomes before you jump into a new career or field. Consider these 10 tips as you make a transition from your present career to your next:
1. Have a clear plan. The smartest move that you can make is to carefully map out an effective career-change strategy. This should include a detailed action plan that takes into consideration finances, research, education, and training. Keep in mind that a successful career change can take several months or longer to accomplish, so patience is key.
2. Wait for the right time. The best time to consider a new career is when you are safely ensconced in your existing position. It goes without saying that a steady paycheck can relieve a lot of pressure. There are many ways to take steps toward your new career path; you can volunteer or offer yourself as a freelancer or consultant. This can help you to “test the waters” in your desired new field.
3. Be sure of your reasons. Just because you’re unhappy in your current job isn’t a strong enough reason to make a total career break. Carefully analyze whether it is your actual career you dislike or whether your employer, supervisor, or office situation is the problem.
4. Do your research. Be sure to examine all possibilities before attempting a career jump. Talk to people in your network; read career and job profiles; meet with a career management professional. The more information with which you arm yourself beforehand, the more successful you will be.
5. Decide what’s important. This is the best time for thoughtful self-reflection. Ask yourself what it is you really want to do with the rest of your life. Take an honest inventory of your likes and dislikes, and evaluate your skills, values, and personal interests. Many people who are looking to change careers do so to find a balance between their personal and professional lives, to accomplish the right mix of meaning and money. You may want to consider consulting a career coach and/or taking a career assessment test.
6. Examine your qualifications. Do you have the necessary experience and education to be considered a qualified candidate in your desired career field? If not, you need to find a way to bridge the credentials gap. This might mean making your goal more long-term while you go back to school or receive additional training.
7. Learn about the industry. Get a feel for the field that interests you. Read industry journals, attend conferences, and talk to people in the profession about what they do. Learn whether your target industry has growth potential. Trade magazines, organizations, and entrepreneurs have created a slew of Web sites that offer searchable databases where job openings in many specific industries are listed. Start looking at these sites on a regular basis.
8. Develop your network. Begin nurturing professional friendships early and tend them regularly. Professional organizations and job industry trade associations are a good place to start. Many of them hold networking events and job fairs.
9. Update your job search skills. It is especially important to polish up your job-hunting skills and techniques before you get out there and start networking. Make sure you are using your time and resources as effectively as possible.
10. Pay your dues. Don’t expect to begin at the same level of seniority in your new career that you held in your old one. It will take time to move up the ranks, but if you find a new career that you absolutely love, it will be worth it.
1. Have a clear plan. The smartest move that you can make is to carefully map out an effective career-change strategy. This should include a detailed action plan that takes into consideration finances, research, education, and training. Keep in mind that a successful career change can take several months or longer to accomplish, so patience is key.
2. Wait for the right time. The best time to consider a new career is when you are safely ensconced in your existing position. It goes without saying that a steady paycheck can relieve a lot of pressure. There are many ways to take steps toward your new career path; you can volunteer or offer yourself as a freelancer or consultant. This can help you to “test the waters” in your desired new field.
3. Be sure of your reasons. Just because you’re unhappy in your current job isn’t a strong enough reason to make a total career break. Carefully analyze whether it is your actual career you dislike or whether your employer, supervisor, or office situation is the problem.
4. Do your research. Be sure to examine all possibilities before attempting a career jump. Talk to people in your network; read career and job profiles; meet with a career management professional. The more information with which you arm yourself beforehand, the more successful you will be.
5. Decide what’s important. This is the best time for thoughtful self-reflection. Ask yourself what it is you really want to do with the rest of your life. Take an honest inventory of your likes and dislikes, and evaluate your skills, values, and personal interests. Many people who are looking to change careers do so to find a balance between their personal and professional lives, to accomplish the right mix of meaning and money. You may want to consider consulting a career coach and/or taking a career assessment test.
6. Examine your qualifications. Do you have the necessary experience and education to be considered a qualified candidate in your desired career field? If not, you need to find a way to bridge the credentials gap. This might mean making your goal more long-term while you go back to school or receive additional training.
7. Learn about the industry. Get a feel for the field that interests you. Read industry journals, attend conferences, and talk to people in the profession about what they do. Learn whether your target industry has growth potential. Trade magazines, organizations, and entrepreneurs have created a slew of Web sites that offer searchable databases where job openings in many specific industries are listed. Start looking at these sites on a regular basis.
8. Develop your network. Begin nurturing professional friendships early and tend them regularly. Professional organizations and job industry trade associations are a good place to start. Many of them hold networking events and job fairs.
9. Update your job search skills. It is especially important to polish up your job-hunting skills and techniques before you get out there and start networking. Make sure you are using your time and resources as effectively as possible.
10. Pay your dues. Don’t expect to begin at the same level of seniority in your new career that you held in your old one. It will take time to move up the ranks, but if you find a new career that you absolutely love, it will be worth it.
Wednesday, October 1, 2008
The Cover Letter
One of the most important aspects to finding that perfect career fit, is your cover letter that accompanies your resume. Consider your cover letter the prelude to a great novel. How intrigued the reader is about the prelude will entice them to read further.
All cover letters should:
Explain why you are sending a resume. Don't send a resume without a cover letter. Don't make the reader guess what you are asking for; be specific: Do you want a summer internship opportunity, or a permanent position at graduation; are you inquiring about future employment possibilities?
Tell specifically how you learned about the position or the organization — a flyer posted in your department, a web site, a family friend who works at the organization. It is appropriate to mention the name of someone who suggested that you write.
Convince the reader to look at your resume. The cover letter will be seen first. Therefore, it must be very well written and targeted to that employer.
Call attention to elements of your background — education, leadership, experience — that are relevant to a position you are seeking. Be as specific as possible, using examples.
Reflect your attitude, personality, motivation, enthusiasm, and communication skills.
Provide or refer to any information specifically requested in a job advertisement that might not be covered in your resume, such as availability date, or reference to an attached writing sample.
Indicate what you will do to follow-up.
•
In a letter of application — applying for an advertised opening — applicants often say something like "I look forward to hearing from you." However, if you have further contact info (e.g. phone number) and if the employer hasn't said "no phone calls," it's better to take the initiative to follow-up, saying something like, "I will contact you in the next two weeks to see if you require any additional information regarding my qualifications."
•
In a letter of inquiry — asking about the possibility of an opening — don't assume the employer will contact you. You should say something like, "I will contact you in two weeks to learn more about upcoming employment opportunities with (name of organization)." Then mark your calendar to make the call.
All cover letters should:
Explain why you are sending a resume. Don't send a resume without a cover letter. Don't make the reader guess what you are asking for; be specific: Do you want a summer internship opportunity, or a permanent position at graduation; are you inquiring about future employment possibilities?
Tell specifically how you learned about the position or the organization — a flyer posted in your department, a web site, a family friend who works at the organization. It is appropriate to mention the name of someone who suggested that you write.
Convince the reader to look at your resume. The cover letter will be seen first. Therefore, it must be very well written and targeted to that employer.
Call attention to elements of your background — education, leadership, experience — that are relevant to a position you are seeking. Be as specific as possible, using examples.
Reflect your attitude, personality, motivation, enthusiasm, and communication skills.
Provide or refer to any information specifically requested in a job advertisement that might not be covered in your resume, such as availability date, or reference to an attached writing sample.
Indicate what you will do to follow-up.
•
In a letter of application — applying for an advertised opening — applicants often say something like "I look forward to hearing from you." However, if you have further contact info (e.g. phone number) and if the employer hasn't said "no phone calls," it's better to take the initiative to follow-up, saying something like, "I will contact you in the next two weeks to see if you require any additional information regarding my qualifications."
•
In a letter of inquiry — asking about the possibility of an opening — don't assume the employer will contact you. You should say something like, "I will contact you in two weeks to learn more about upcoming employment opportunities with (name of organization)." Then mark your calendar to make the call.
Saturday, September 13, 2008
The Top Ten of 2008
This year, as similar to last year, many students will graduate and still be unclear about their occupational pursuits. In order to provide those who may still be trying to decipher where the job growth will be in this tumultuous economic period, we here at SCS have provided you with the following list of the Top Ten Jobs for the Class of 2008 based on information and data from the Bureau of Labor Statistics on the industries doing the most hiring and expecting the most job growth. Here are 10 of the best jobs for the graduating class of 2008:
1. Financial analyst Major: Business administration Median annual salary: $66,590* Projected job growth: 34 percent Jobs created: 75,000
2. Computer systems analysts Major: Information sciences and systems Median annual salary: $69,760 Projected job growth: 29 percent Jobs created: 146,000
3. Computer systems software engineers Major: Computer science Median annual salary: $85,370 Projected job growth: 28 percent Jobs created: 99,000
4. Accountants Major: Accounting Median annual salary: $54,630 Projected job growth: 18 percent Jobs created: 226,000
5. Civil engineers Major: Engineering Median annual salary: $68,600 Projected job growth: 18 percent Jobs created: 46,000
6. Marketing managers Major: Advertising or journalism Median annual salary: $98,720 Projected job growth: 14 percent Jobs created: 24,000
7. Financial managers Major: Finance Median annual salary: $90,970 Projected job growth: 13 percent Jobs created: 64,000
8. Chemical engineers Major: Engineering Median annual salary: $78,860 Projected job growth: 8 percent Jobs created: 2,400
9. Electrical engineers Major: Engineering Median annual salary: $75,930 Projected job growth: 6 percent Jobs created: 9,600
10. Mechanical engineers Major: Engineering Median annual salary: $69,850 Projected job growth: 4 percent Jobs created: 9,400
Good luck graduates!!
1. Financial analyst Major: Business administration Median annual salary: $66,590* Projected job growth: 34 percent Jobs created: 75,000
2. Computer systems analysts Major: Information sciences and systems Median annual salary: $69,760 Projected job growth: 29 percent Jobs created: 146,000
3. Computer systems software engineers Major: Computer science Median annual salary: $85,370 Projected job growth: 28 percent Jobs created: 99,000
4. Accountants Major: Accounting Median annual salary: $54,630 Projected job growth: 18 percent Jobs created: 226,000
5. Civil engineers Major: Engineering Median annual salary: $68,600 Projected job growth: 18 percent Jobs created: 46,000
6. Marketing managers Major: Advertising or journalism Median annual salary: $98,720 Projected job growth: 14 percent Jobs created: 24,000
7. Financial managers Major: Finance Median annual salary: $90,970 Projected job growth: 13 percent Jobs created: 64,000
8. Chemical engineers Major: Engineering Median annual salary: $78,860 Projected job growth: 8 percent Jobs created: 2,400
9. Electrical engineers Major: Engineering Median annual salary: $75,930 Projected job growth: 6 percent Jobs created: 9,600
10. Mechanical engineers Major: Engineering Median annual salary: $69,850 Projected job growth: 4 percent Jobs created: 9,400
Good luck graduates!!
Monday, August 25, 2008
Will an MBA Springboard my Career?
The Master of Business Administration: Is the MBA Worth the Time, Effort, and Cost?
by Randall S. Hansen, Ph.D.
Are you a job-seeker who is looking for more responsibility and pay, seeking more leverage in obtaining a work/life balance, or contemplating a move into management -- and are considering returning to school to get your MBA? Or perhaps a job-seeker exploring changing careers by going back to school for your MBA? Or perhaps a consultant looking to add a credential to your dossier. Or perhaps a college junior or senior contemplating going straight through and obtaining your MBA right after your undergraduate degree?
Regardless of your reasons, if you are contemplating attending graduate school to obtain your MBA, you should read this article before you make your final decision. This article will take you through all the important issues you need to contemplate before making your decision of whether -- and when -- to obtain your MBA.
What is an MBA? It's a Master of Business Administration degree, granted after one to two years of graduate-level university study that provides training in the theory and practice of business management. The MBA is basically a document that certifies that you have a general competency in all the major functional management roles you'll find in the modern corporation. An MBA is a career accelerator across a number of industries and MBA graduates can usually command higher salaries.
When is the best time to enroll in an MBA program? The obvious answer is to enroll at a point in your career when the MBA is necessary to take your career to the next level, but the choice is never that simple.
For the college undergrad, the biggest question you need to ask yourself is why -- why are you interested in going straight through and getting your MBA right after your bachelor's degree? The top-ranked programs will not even admit you if you don't have at least several years of experience, and a freshly minted MBA with little or no job experience is often in a much tougher job hunt than a recent college grad with little or no job experience.
For the job-seeker, the question about getting your MBA involves how as much as when. Will you keep working while earning your MBA in a part-time program or do you have the financial resources to quit your job and return to school full-time? Will your current employer help finance your MBA? Do you need the MBA as part of a career change -- and if so, how are you going to do it?
Finally, there is the question of the economy. Some people think it's a good hedge to get an MBA during an economic slowdown -- a safe haven -- rather than face the tough job market; however, when the economy is bad, even having an MBA is no guarantee of obtaining a lucrative job offer. The best advice? Talk to recruiters and MBA career placement counselors -- and read the current trends in magazines such as Business Week, Success, U.S. News and World Report.
MBA Trends
The number of MBA degrees conferred annually has seen explosive growth over the last few decades, going from under 5,000 MBAs in 1960 to more than 100,000 MBAs in 2000. Enrollment is also influenced by the economy, and as the economy turns toward a downturn, both recent grads and displaced workers head back to earn their MBAs.
Because of the growing number of graduate business programs that confer more and more MBA degrees, the degree itself is not as special or highly-valued as in the past. An MBA alone will not be the magic key to the door of career and job-hunting success.
Types of MBA
One of the questions you'll need to answer is whether you are interested in a general MBA, which is often shorter in duration, or a specialized MBA, which may take longer but make you more marketable.
Regardless of the type of MBA, the core topics you'll encounter include:
Accounting
Quantitative analysis
Economics
Marketing
Organizational behavior
Specialized MBAs offer more advanced study in a particular area of business (such as marketing) or a particular industry (such as higher education).
Finally, you'll need to determine the value of the "name" of the program you are considering. If you are searching for a big push that fast tracks your career, snagging an MBA from one of the top schools in the country may be the ticket. But, if you're looking to simply get ahead and move your careers along, don't discount the many MBA programs that are unranked but that offer you the degree and value you need. (See the link for Business Week, below, which is one of several organizations that rank MBA programs.)
MBA Costs -- and Returns
According to one salary guide, an MBA is worth about $10-30,000 a year over a bachelor's degree, but the salary increase you could see may be much less -- or much more. Factors that can affect your salary include:
whether you stay with your current employer or seek a job with a new employer.
the amount of relevant experience you have for the job you are seeking.
the reputation of the graduate school you attended.
the type of job you are seeking -- and the level of supply/demand for workers.
the industries where you are seeking a job.
the location of the jobs you are seeking.
But don't forget to factor in the costs as well, with the average cost of graduate study leading to an MBA at about $30,000. Tuition is about $50,000 at Wake Forest University, one of the premier MBA programs, while closer to $12,000 at my school, Stetson University.
What an MBA Can Do for Your Career
If you're looking for the MBA to help you get into the executive suite, it may be just the ticket you need. According to a study by Accountemps, a global temporary staffing service for accounting and finance professionals, 80 percent of executives responding to the survey said that a graduate degree in business is still important to reach senior management ranks within most companies.
And there is growing evidence that having an MBA not only gives you more leverage in dictating new job titles and salary, but also gives you leverage in achieving a better balance between work (read: fewer hours working) and life outside work.
by Randall S. Hansen, Ph.D.
Are you a job-seeker who is looking for more responsibility and pay, seeking more leverage in obtaining a work/life balance, or contemplating a move into management -- and are considering returning to school to get your MBA? Or perhaps a job-seeker exploring changing careers by going back to school for your MBA? Or perhaps a consultant looking to add a credential to your dossier. Or perhaps a college junior or senior contemplating going straight through and obtaining your MBA right after your undergraduate degree?
Regardless of your reasons, if you are contemplating attending graduate school to obtain your MBA, you should read this article before you make your final decision. This article will take you through all the important issues you need to contemplate before making your decision of whether -- and when -- to obtain your MBA.
What is an MBA? It's a Master of Business Administration degree, granted after one to two years of graduate-level university study that provides training in the theory and practice of business management. The MBA is basically a document that certifies that you have a general competency in all the major functional management roles you'll find in the modern corporation. An MBA is a career accelerator across a number of industries and MBA graduates can usually command higher salaries.
When is the best time to enroll in an MBA program? The obvious answer is to enroll at a point in your career when the MBA is necessary to take your career to the next level, but the choice is never that simple.
For the college undergrad, the biggest question you need to ask yourself is why -- why are you interested in going straight through and getting your MBA right after your bachelor's degree? The top-ranked programs will not even admit you if you don't have at least several years of experience, and a freshly minted MBA with little or no job experience is often in a much tougher job hunt than a recent college grad with little or no job experience.
For the job-seeker, the question about getting your MBA involves how as much as when. Will you keep working while earning your MBA in a part-time program or do you have the financial resources to quit your job and return to school full-time? Will your current employer help finance your MBA? Do you need the MBA as part of a career change -- and if so, how are you going to do it?
Finally, there is the question of the economy. Some people think it's a good hedge to get an MBA during an economic slowdown -- a safe haven -- rather than face the tough job market; however, when the economy is bad, even having an MBA is no guarantee of obtaining a lucrative job offer. The best advice? Talk to recruiters and MBA career placement counselors -- and read the current trends in magazines such as Business Week, Success, U.S. News and World Report.
MBA Trends
The number of MBA degrees conferred annually has seen explosive growth over the last few decades, going from under 5,000 MBAs in 1960 to more than 100,000 MBAs in 2000. Enrollment is also influenced by the economy, and as the economy turns toward a downturn, both recent grads and displaced workers head back to earn their MBAs.
Because of the growing number of graduate business programs that confer more and more MBA degrees, the degree itself is not as special or highly-valued as in the past. An MBA alone will not be the magic key to the door of career and job-hunting success.
Types of MBA
One of the questions you'll need to answer is whether you are interested in a general MBA, which is often shorter in duration, or a specialized MBA, which may take longer but make you more marketable.
Regardless of the type of MBA, the core topics you'll encounter include:
Accounting
Quantitative analysis
Economics
Marketing
Organizational behavior
Specialized MBAs offer more advanced study in a particular area of business (such as marketing) or a particular industry (such as higher education).
Finally, you'll need to determine the value of the "name" of the program you are considering. If you are searching for a big push that fast tracks your career, snagging an MBA from one of the top schools in the country may be the ticket. But, if you're looking to simply get ahead and move your careers along, don't discount the many MBA programs that are unranked but that offer you the degree and value you need. (See the link for Business Week, below, which is one of several organizations that rank MBA programs.)
MBA Costs -- and Returns
According to one salary guide, an MBA is worth about $10-30,000 a year over a bachelor's degree, but the salary increase you could see may be much less -- or much more. Factors that can affect your salary include:
whether you stay with your current employer or seek a job with a new employer.
the amount of relevant experience you have for the job you are seeking.
the reputation of the graduate school you attended.
the type of job you are seeking -- and the level of supply/demand for workers.
the industries where you are seeking a job.
the location of the jobs you are seeking.
But don't forget to factor in the costs as well, with the average cost of graduate study leading to an MBA at about $30,000. Tuition is about $50,000 at Wake Forest University, one of the premier MBA programs, while closer to $12,000 at my school, Stetson University.
What an MBA Can Do for Your Career
If you're looking for the MBA to help you get into the executive suite, it may be just the ticket you need. According to a study by Accountemps, a global temporary staffing service for accounting and finance professionals, 80 percent of executives responding to the survey said that a graduate degree in business is still important to reach senior management ranks within most companies.
And there is growing evidence that having an MBA not only gives you more leverage in dictating new job titles and salary, but also gives you leverage in achieving a better balance between work (read: fewer hours working) and life outside work.
Wednesday, July 30, 2008
Why a good resume is so important.
It's the first meeting between you and a prospective employer...
You have heard the expression "First impressions are lasting ones." Well, your resume is the first meeting between you and a prospective employer more often now than ever. So, how do you want to be remembered? Wrinkled and unorganized. Neat and structured. Long and boring. Precise and interesting. Companies do not have the time to interview every applicant that is interested in the job. If they did, there would not be a company to work for. They use an eliminating process. That's right - resumes.
They tell the employer a great deal about you...
Resumes tell an employer a great deal about you. Where you have been, where you are and where you are headed. However, the story must be told quickly and clearly. You only have a few moments to convince the employer that your resume deserves further attention before it's trashed. Your resume needs to shout - professionally, "I am the one you want on your team." So much so, that even if you are not appropriate for the advertised position, he or she would be inclined to start one for you.
They tell you a great deal about yourself...
Resumes also tell you a great deal about yourself. Many people are unsure of exactly what they do for a living. Most people underestimate their importance to the overall success of the business. Once you stop and think about your job responsibilities , you realize you do and know a lot. You begin to gain confidence about you and your qualifications. This new found confidence can be carried to the interview.
Its purpose is to get the interview...
The purpose of the resume is to get the interview. After reading it, employers should want to get to know you better. Your resume is your friend, if properly prepared. If not, it could be just the thing that loses your opportunity. Use it to your advantage. You have complete control over whatever employer knows about you. Never falsify information, but emphasize the good, and de-emphasize the bad. Make sure your lasting impression is a profound and positive one.
You have heard the expression "First impressions are lasting ones." Well, your resume is the first meeting between you and a prospective employer more often now than ever. So, how do you want to be remembered? Wrinkled and unorganized. Neat and structured. Long and boring. Precise and interesting. Companies do not have the time to interview every applicant that is interested in the job. If they did, there would not be a company to work for. They use an eliminating process. That's right - resumes.
They tell the employer a great deal about you...
Resumes tell an employer a great deal about you. Where you have been, where you are and where you are headed. However, the story must be told quickly and clearly. You only have a few moments to convince the employer that your resume deserves further attention before it's trashed. Your resume needs to shout - professionally, "I am the one you want on your team." So much so, that even if you are not appropriate for the advertised position, he or she would be inclined to start one for you.
They tell you a great deal about yourself...
Resumes also tell you a great deal about yourself. Many people are unsure of exactly what they do for a living. Most people underestimate their importance to the overall success of the business. Once you stop and think about your job responsibilities , you realize you do and know a lot. You begin to gain confidence about you and your qualifications. This new found confidence can be carried to the interview.
Its purpose is to get the interview...
The purpose of the resume is to get the interview. After reading it, employers should want to get to know you better. Your resume is your friend, if properly prepared. If not, it could be just the thing that loses your opportunity. Use it to your advantage. You have complete control over whatever employer knows about you. Never falsify information, but emphasize the good, and de-emphasize the bad. Make sure your lasting impression is a profound and positive one.
Sunday, July 6, 2008
The Value of Networking
There is an old saying that "it's not what you know, it's who you know." No where else does this hold true than in Buffalo New York, a town so small that people jokingly say there are three (3) degrees of separation as opposed to six (6) in bigger areas. Networking is one of the most essential skills to develop and if used correctly can provide much in the way of positive returns. Networking has been defined as "developing a broad list of contacts -- people you've met through various social and business functions -- and using them to your advantage when you look for a job."
The seven (7) Steps to Successful Networking:
One site that we here at Successful Career Solutions has found to be a great tool for networking is www.linkedin.com.
The seven (7) Steps to Successful Networking:
- Develop a firm grasp of job search basics.
- Conduct a self-assessment. An honest review of your strengths and weaknesses is vital. You should also make some decisions relating to the types of jobs you want and the types of companies and industries that interest you.
- Prepare a strong resume. If you don't already have a resume, now is the time to develop one. You should ideally develop two resumes -- one in traditional format and one in scannable format. (Contact us to assist you with this)
- Decide how to organize your network. This step is crucial to your success. If you have ongoing access to a computer, the best method is a database or spreadsheet where you can enter key information, such as names, titles, company names, addresses, phone numbers, fax numbers, email addresses, and dates of communication. Keeping an organized collection of business cards, where you can write notes and comments about your network, is another alternative.
- Communicate with your network. It is extremely important to stay in touch with your network, which you can easily do by phone, mail, or email. Don't be afraid to ask for their help. Most people like helping others, and you must communicate your current needs with your network in order for them to be able to help you.
- Initiate informational interviews. One of the best ways to gain more information about an occupation or industry -- and to build a network of contacts in that field -- is to talk with people who are currently working in the field. The purpose of the informational interview is to obtain information, not to get a job.
- Follow up with your network. The key is keeping your network informed of your situation and thanking them for their efforts. Never take your network for granted.
One site that we here at Successful Career Solutions has found to be a great tool for networking is www.linkedin.com.
Wednesday, June 25, 2008
Interview Basics - How do I dress for the interview?
We here at Successful Career Solutions have gotten a lot of questions about something that many may think is a very basic part of the interview process...how should one dress for the interview? But there are two basic questions that we get: 1. How should I dress if it's just an entry level position and 2. what about being true to oneself and who they are. Kate Wendleton, a founder of a nation career counseling and outplacement firm has this to say in answering the two questions.
"The rule of thumb is that you dress one or two levels higher than the job that you're going for," explains Kate Wendleton, president and founder of the Five O'Clock Club, a national career counseling and outplacement firm. "If you were going for a job as a mechanic, you wouldn't go in there in dirty overalls, even though that's how you would dress for that kind of work. You would still go in there and show respect. You would go in with an open-collar shirt, clean pants and maybe a jacket."
As Wendleton puts it, by dressing a notch or two above what's standard apparel for the position you're interviewing for, "you're definitely showing that you care about this job, and that you know the game."
This is a very important tip as we have heard from recruiters who have interviewed for environmental service positions that some applicants have come dressed in jeans, hoodies and sneakers to the interview while others have come dressed in a suit. Part of the decision to hire the candidate in the suite was due to the fact that they took the time to truly prepare for the interview, which could lead one to believe that they value presentation; a skill needed in the job.
The other question that we get around dressing for an interview is; "how do I dress for an interview without giving up who I am?"
There are those who say it's pointless to dress for an interview in a way that you wouldn't once you're on the job. Why misrepresent yourself to a future employer or try to be someone you're not?
"If you want to have eight earrings and have your tongue pierced, that's fine," says Wendleton. "But you're showing you don't know how to play the game. If it's so important to you, go ahead and dress like you normally do, but realize that you may not get the job."
For more information on dressing for an interview, check out the following website http://www.totaljobs.com/Contents/Editorial/InterviewsDressing.html
Tuesday, June 17, 2008
Behavioral Interviews?
So you have gotten a call back from a potential employer and you have to prepare for the interview. One thing to be mindful of is that interviewing is a real skill and the game has changed. Many employers are using Behavioral Interviewing in place of the Traditional Interview. Below is an explanation of the differences.
What is a behavioral interview? Behavioral based interviewing is interviewing based on discovering how the interviewee acted in specific employment-related situations. The logic is that how you behaved in the past will predict how you will behave in the future i.e. past performance predicts future performance.Give an example of an occasion when you used logic to solve a problem. Give an example of a goal you reached and tell me how you achieved it. Describe a decision you made that was unpopular and how you handled implementing it. Have you gone above and beyond the call of duty? If so, how? What do you do when your schedule is interrupted? Give an example of how you handle it. Have you had to convince a team to work on a project they weren't thrilled about? How did you do it? Have you handled a difficult situation with a co-worker? How? Tell me about how you worked effectively under pressure. A specific situation The tasks that needed to be done The action you took The results i.e. what happened
What is a behavioral interview? Behavioral based interviewing is interviewing based on discovering how the interviewee acted in specific employment-related situations. The logic is that how you behaved in the past will predict how you will behave in the future i.e. past performance predicts future performance.
Traditional Interview vs. Behavioral Interview
In a traditional interview, you will be asked a series of questions which typically have straight forward answers like "What are your strengths and weaknesses?" or "What major challenges and problems did you face? How did you handle them?" or "Describe a typical work week."
In a behavioral interview, an employer has decided what skills are needed in the person they hire and will ask questions to find out if the candidate has those skills. Instead of asking how you would behave, they will ask how you did behave. The interviewer will want to know how you handled a situation, instead of what you might do in the future.
Questions in a Behavioral InterviewBehavioral interview questions will be more pointed, more probing and more specific than traditional interview questions:
Follow-up questions will also be detailed. You may be asked what you did, what you said, how you reacted or how you felt.
Preparation for the Potential Behavioral InterviewWhat's the best way to prepare? It's important to remember that you won't know what type of interview will take place until you are sitting in the interview room. So, prepare answers to traditional interview questions.
Then, since you don't know exactly what situations you will be asked about if it's a behavioral interview, refresh your memory and consider some special situations you have dealt with or projects you have worked on. You may be able to use them to help frame responses. Prepare stories that illustrate times when you have successfully solved problems or performed memorably. The stories will be useful to help you respond meaningfully in a behavioral interview.
Finally, review the job description, if you have it, or the job posting or ad. You may be able to get a sense of what skills and behavioral characteristics the employer is seeking from reading the job description and position requirements. Take a look at what employers are advised about developing the job posting for a behavioral interview on the About Human Resources site.
During the Behavioral InterviewDuring the interview, if you are not sure how to answer the question, ask for clarification. Then be sure to include these points in your answer:
It's important to keep in mind that there are no right or wrong answers. The interviewer is simply trying to understand how you behaved in a given situation. How you respond will determine if there is a fit between your skills and the position the company is seeking to fill. So, listen carefully, be clear and detailed when you respond and, most importantly, be honest. If your answers aren't what the interviewer is looking for, this position may not be the best job for you anyway.
Thursday, June 12, 2008
The 5 Worst Reasons To Quit Your Job...
When you are looking for that next job, there is one question that you best believe you will be asked by the hiring representative for the job you are applying for; "Why are you leaving your current job?"
Kris Dunn from Fistfuloftalent provides you with the 5 worst responses to the question. Take some time to formulate a response to this question and do not make it any one of these 5 (http://www.fistfuloftalent.com).
5. "The new company offered me more money" - I know this is a reality, but if that's your lead (rather than embedded as one of 4 to 5 reasons) I get a picture of a mercenary for hire, aka Rambo... If you left them for 10%, will you do the same to us? Probably.4. "I wasn't challenged" - This might be the reality, but don't engaged employees get the grunt work done and naturally find challenges to tackle that are in line with their interests? If you give me the image of you doing grunt work and not being satisfied, it's not enough. I need to hear what you did to innovate in the role, and if you can't provide, then it can be a problem. Especially for an autonomous position.
3. "I didn't agree with how things were done" - Again, it's all in the context. What didn't you agree with? Accountability for results? Pressure to hit deadlines? A culture of harassment? If I follow up, and it's things in alignment with the first two items (accountability), that's not good.
2. "It's not that I"m lazy, it's that I just don't care. It's a problem of motivation, Bob" - Just seeing if you were still reading. I haven't interviewed Peter Gibbons lately, although that would be cool...
1. "I didn't get along with my manager" - A tough one, because it can be the reality. When I follow up on this one, I need to hear what was unreasonable about the manager. If he/she is a tyrant, OK, I get it. If I hear that they were too involved, or that they held people accountable, it can be an issue for the candidate. After all, there are many types of bosses - adaptability is key.
Subscribe to:
Posts (Atom)