Schools done and now you are going to be rich? Think again. All of those hours spent in the library, all of those all nighters, the excessive weight gains and weight losses, all of the parties missed to study for an exam, and all of those expensive text books will be beneficial- just not right away.
Biggest Misconception Amongst Young People? Probably one of the biggest misconceptions amongst students is that they feel they will earn a small fortune their first year out of school, unfortunately this is not true. Most entry level positions for recent graduates from a University/College program will not exceed the $40,000 mark. Do not let this discourage you because you will get that dream position of Executive Manager or Charge Nurse, just not right away. Just like it most likely took you four years to complete your post secondary studies, it will also take you at least the same amount of time to advance to your dream job.
The reason for this? Besides the obvious fact that nothing comes easy in life (well for most of us at least) there are increasingly more students graduating from post secondary programs every year with all of them competing for the same prestigious jobs. On top of all of the competition, most employers are seeking qualified individuals with the proper education and specific experience requirements. Most young people graduating from their respective programs only have experience in studying for exams while trying to keep up with Facebook, not the detailed work experience that some employers are asking for. Even if one of the companies you truly wanted to work for decides to give you a chance at employment, odds are they will start you at a less than ideal entry level salary. Now will all that said please do not let it discourage you because the harder you work for something the more you will appreciate it. Hence, when you do get that dream job (with all of those years of experience required) you will truly be satisfied. Remember, if you enjoy what you do for a living, you will never work a day in your life.
Before you get that dream job let me give you the key guidelines to look for when selecting that first job out of school.
Reputable Company. Before you even have an interview with a company you should conduct an extensive background check of the company, so if anything you at least know what the company is all about. Prior to even applying at a company you should write down a list of companies that you strongly believe in, then you should narrow down this list to the companies that you would truly want to work for. The last step you take is search through employment websites and the company website to check if the company is seeking interview candidates for your particular field of study.
Growth Potential. Find a company that has many positions and many levels of positions. You will obviously start off at the bottom, but there should be a clear level that you strive to obtain within a specific time frame. In addition to a company having higher levels of positions, it should also have clear guidelines on how an individual is to move on up in the company. The clear guidelines are usually found in the internal job postings under requirements or by simply asking people in higher positions how they got to where they are. Typically union jobs are the worst for offering growth potential as they usually fill positions based on seniority not merit.
Education Opportunities. So that your skills do not become stagnant you should ensure that the company you look for offers free courses and programs that will increase your value to the company. The more valuable you are, the more difficult it will be for the company to get rid of you.
Mental State. Making a lot of money is usually the goal of most people, but what does a lot of money mean when you’re not happy with what you do. If you are not happy with your current job then chances are you will not perform to the standards that are expected of you. You must truly enjoy what you do and wake up every day (well at least most days) wanting to go to work because a new challenge awaits you. To be perfectly realistic, if you can not find the absolute dream job where you are happy, then you should find a new job where you will be happier than you are at your current job.
I'm a 24 year old dude that studied finance in school and now wants to make it fun. Over the past three years I've been helping readers like YOU make more money and keep more cash in your pocket. I've appeared live on Fox Business News and I've been mentioned in the NY Times.
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I’d recommend that new grads keep themselves open to a variety of opportunities. Especially in this economy where pretty much every job is hard to get.
I’m not a big fan of ’5 year plans’. Mostly because I’ve scrapped every 5 year plan I’ve ever made within two years of making it after determining that the plan was taking me in a direction I didn’t want to go.
I’m more in the camp of try for a job you think you might like and be good at. If it doesn’t work out, jump ship after a year or two and try again. Eventually you’ll stumble onto something that you actually like, are good at and pays decently. Or to put it another way… the perfect job.