Your Money and Career Guide
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This is the power point version of Your Job and Your Money by Adam Carroll and Tim Augustine recently delivered at Purdue University in West Lafayette, IN. Go Boilermakers!
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Your Money and Career Guide
- 1. Your Job and Your Money Presented by Best-Selling Authors: Timothy Augustine & Adam Carroll
- 2. State of the college student (Picture of Old school) 11/09/10 2
- 3. Don’t Borrow From Tomorrow What percent of all students have 1-2 credit cards by their sophomore year? 93%
- 4. What does the average college student carry for a credit card balance? $2,700 Don’t Borrow From Tomorrow
- 5. What is the average student loan debt for undergraduates? $24,568 Don’t Borrow From Tomorrow
- 6. Making a living Ongoing savings Needs vs. wants spending Employing your money Your money choices and their consequences
- 7. Average income the first year out of college? Accounting: $44,928 Chemical Engineering: $56,269 Management Information Systems (MIS): $45,391 Marketing: $37,191 Financial Services: $43,950 Educational Services: $30,291 Oil & Coal Products: $53,611 Aerospace: $54,410
- 8. The Job Market Challenges Unemployment rate 16 year high Competition is fierce Looking for multiple skills and flexibility Change in expectations and skills desired Opportunity Technology generation Ability to multi-task Global perspective Broad perspective of business / flexible 9
- 9. 10 Starting your job search 1) Why you? What value will you bring? 2) Where can you find opportunities? 3) How can you develop a targeted resume? 4) Preparing for the interviews Landing a positive first impression Types of interviews and topics covered 5) Success after you land the job.
- 10. 11 Why should I hire you? What are your unique strengths? What type of company would you like to work for? Define your company criteria What type of position are you interested in? Where do you want to be in 5 years? What aspects of a job are most important to you?
- 11. 12 What traits are companies looking for? Enthusiasm / Motivation Flexibility and Ability to Adapt Self-Confidence Follow-Through Customer Oriented Organized Communication Skills Time Management Skills Teamwork Experience Potential
- 12. 13 Urgent Industries Life Sciences Pharmaceuticals Medical devices Instrumentation Biotechnology research and ancillary services Healthcare Renewable Energy (Wind, Solar, Biofuel) Technology Financial Management
- 13. 14 Where do you want to work? Identify your target Industry. Select your target companies. Determine the type of information you need. What does the company do? Private / Public? Who are its competitors? What are their products / services? Who are the company’s customers? Leverage your network (Who do you know?) Do your homework!
- 14. 15 How to Find Opportunities Leverage your network Use technology Company sites, job boards, associations Social networking sites Professional and social organizations Ability to work with others, leverage relationships and learn University Career Centers and Alumni Center Be Creative
- 15. Networking Works 75% of executives surveyed keep in touch with their network on a regular basis. 82% of executives surveyed found their job through networking. 91% of executives attributed their network as their primary reason for success. Be Interested, Not Interesting
- 16. 11/09/10 © How Hard Are You Knocking, Tim Augustine 17 Develop a Targeted Resume
- 17. 18 Resume Selling Points Noticed and Read FedEx, Priority Mail, Creativity Referred from a Network / Colleague Error Free! Industry Knowledge 1 or 2 Pages, Colored Paper, Easy to Read Results Oriented Task Activities Results Quantifiable Results “Grew pledge class by 25%” “Grew revenue by 38%”
- 19. 20 Land the First Impression General guidelines Clothes that fit - Buy and wear prior to interview Perfume and cologne Jewelry Attention to detail Be prepared Hygiene Carrots Perception First impression
- 20. 11/09/10 21 The “Spotlight” Bring a Professional Portfolio Types of interview Phone Interview You Initiate the Call. Face-to-Face Interview Application, Resume, Questions Group Interview Take your time. Meal Interview Eat Before the Interview!
- 21. 22 Your “cheat sheet” Industry Knowledge Company Knowledge Position Understanding Your Skills Communication skills Teamwork and collaboration Flexibility Ability to learn Ability to get things done How can he/she add value?
- 22. 23 Land the Job! Understand entire package Health Care Premiums, Training / Tuition Reimbursement, 401 K, Vacation Time, Team Structure, Performance Reviews Salary Negotiations 10%, Over the Phone, “Based on My Research” Monster.com Salary.com Salaryexpert.com Salarywizard.com Benefitslink.com Jobstar salary survey University Career Center Data Follow-up - Acceptance Letter and Logistics Start date, Start time, Work attire, Expectations
- 23. 24 Keys to Career Success! Personal Satisfaction Do you enjoy your job, people and environment? Professional Development Are you learning and growing? Financial Rewards Are you paid a fair market salary?
- 24. Money in Your Twenties
- 25. • Day 5 = .16 • Day 10 = 5.12 • Day 15 = 163.84 • Day 20 = 5242.88 • Day 25 = 167,772.16 • Day 28 = 1,342,177.28 Time is on your side
- 26. What is the average household credit card debt? $9,317 Don’t Borrow From Tomorrow
- 27. How many credit cards does the average household carry? 14.7 Don’t Borrow From Tomorrow
- 28. Making a Living – Which one are you? The Spender Taxes $600 Apartment $600 Car $400 Insurance $100 Credit Card $200 Student Loan $300 Food $200 Miscellaneous $600 The Even-Steven Taxes $600 Apartment $400 Car $300 Insurance $100 Credit Card $100 Student Loan $200 Food $200 Miscellaneous $600 The Saver Taxes $600 Apartment $0 Car $0 Insurance $100 Credit Card $100 Student Loan $200 Food $200 Miscellaneous $600
- 29. Student Loan Payments $5,000 $60.00 $10,000 $115.00 $15,000 $175.00 $20,000 $230.00 $25,000 $290.00 $30,000 $345.00 $35,000 $400.00 $40,000 $460.00 $50,000 $575.00 $60,000 $690.00 Student Loan Balance Monthly payments
- 30. Credit Card Payments $1,000 $40 $2,000 $80 $3,000 $120 $4,000 $160 $5,000 $200 $6,000 $240 $7,000 $280 $8,000 $320 $9,000 $360 $10,000 $400 $11,000 $440 $12,000 $480 Balance Monthly payment
- 31. Your financial life… on $36,000 a year Every month aft tax inc $2,100 Student Loan Payment $230 Credit Card Payment $200 Rent $500 Utilities $75 Car payment $300 Insurance $100 Cell Phone $100 Food $400 Entertainment $150 Gas $100 Miscellaneous $500 Total $-555
- 32. PAY YOURSELF FIRST!! (Take 10% of what you make and save/save it) Checking Savings Money Market On-going Savings
- 33. Start An Automatic Investment Plan Checking Savings Money Market On-going Savings
- 34. “Compound Interest is the 8th Wonder of the World!”
- 35. 1. Tuition & Fees 2. Books 3. Food (Meal Plan) 4. Housing 5. Transportation 6. Clothing 7. __________ 8. __________ 1. Tanning 2. Video Games 3. Big Screen TV 4. ____________ 5. ____________ 6. ____________ 7. ____________ 8. ____________ Needs versus Wants
- 36. Successful people do the things that unsuccessful people are not willing to do.
- 38. $8 Billion Unclaimed Scholarship Dollars Your Money choices and your Consequences
- 39. Which is a better “investment”? Your Money choices and your Consequences
- 40. Strategies – Slow and Steady Payoff student loans over time Pay more than minimum on credit cards Invest as much as you can in 401k and ROTH IRA Buy a new car Buy a home
- 41. Strategies – Moderately Quick Pay off student loans within 5-7 years Pay off credit cards within 3-4 years Max out 401k and ROTH IRA Buy a used car or no car Buy a home Buy a rental (or several) OR Start a business.
- 42. Strategies – Fast Pay off student loans within 2 years Pay off credit cards within 1 year Max out your 401k and ROTH IRA Don’t buy a car until you can pay cash Buy a duplex, rent out one side and live virtually rent free for two years. Buy another. Repeat. Start a business. Learn to invest heavily and diversify.
- 44. Network with us Tim Augustine Author and Professional Speaker Phone: (248) 447-2005 Email: taugustine@atwell-group.com www.howhardareyouknocking.com Adam Carroll Author and Professional Speaker Phone: (515) 991-7146 Email: adam@adamspeaks.com www.adamspeaks.com
Editor's Notes
- This is the entire Process. These are the five steps of landing a Job. This seminar is based on the Book How Hard Are You Knocking, The job seekers Guide to opening corporate doors. Oakhill Press 1996 and 2004. This information is based on years of research as well as through my background as a Vice President of Human Resources where I interviewed and hired hundreds of people around the globe.
- What makes you valuable? Company Criteria: Magazines (Fortune) Public, Private Industry Company Size Culture Location Reputation
- The external Assessment is designed to identify and document a solid course of action.
- In my experience, nearly 70 percent of all successful job acquisitions began with networking. In addition, the majority of human resource professionals, recruiters, and hiring managers prefer to hire someone they know or have met through a referral from their network.