Job Hunting Tips
October 14, 2009
Job hunting can be a lot of work and quite stressful. Finding a good job isn’t easy, there are many different factors to consider when picking the best job for you and your family. Here are some job hunting tips to consider when going through a career change or even just changing jobs within your industry.
Research and networking: Researching the latest trends, pay and job prospects are important to any job move, but it’s just as important to get face-to-face with people in the field. You don’t want to do a job search on your employer’s time, but if you can get away at lunch or after work to attend networking functions, it’s worth your time for two reasons.
First, you might meet your next boss there. Second, simply by talking and getting to know people already doing the job you want, you’ll get a ground-level view of whether the industry is for you and which employers are the most desirable. You’ll also get an idea of companies to avoid.
Weigh the pay/potential balance: With each job move, we naturally want better pay and benefits. That’s common sense. But as you weigh benefits – sometimes companies feature overviews of their benefits packages on their websites – weigh on-the-job opportunities as well. Here’s the job comparison tool that I’ve used.
A hot, new company with great prospects may not pay or offer the same benefits as a mature employer, but the chance to gain unique experience and responsibility faster might make you a more attractive candidate in a year or two.
Consider timing issues at your current employer: If you are up for a salary review soon, it might make sense to have a better idea of what you’re worth in the marketplace. Also, as the end of the year is coming, you might want to use up any money in your flexible benefits accounts for medical appointments, glasses or dental work before you leave.
Plan to maximize your take-home pay at the next job: This is where a call to your tax or financial planner comes in handy. Some fringe benefits may be taxable, which means your real take-home pay might be less than you expected. To the extent that you get to negotiate your benefits on your way into a job, do it in a tax-smart way.
Plan a request for a written offer from your next employer: Not only should pay, vacation time and other key benefit issues be in writing from a prospective employer, it’s wise to have them list performance evaluation criteria with relevant bonus information.
Decide what you’ll be doing with your 401(k) and other retirement funds: You may not want to make any moves for awhile, but it’s good to talk with a financial planner about whether you’ll be moving that money to private accounts. Also, make sure you know when you can enroll in the company 401(k) and other retirement offerings at your new employer.
Secure your health insurance: You might wait a few months to a year for new health coverage to kick in at a new job. You might need to buy private insurance until then or go onto a spouse’s health plan in the meantime.
Don’t stop networking: Even once you’ve taken a new job or decided to stay where you are, don’t stop building your network. Networking keeps you open to new opportunities and helps you value yourself when it’s time to ask for your next raise.
These job hunting tips were produced in association with the Financial Planning Association (FPA), the leadership and advocacy organization connecting those who provide, support and benefit from professional financial planning.
I think another thing to keep in mind when searching for jobs is to put effort towards how you can make some extra money with the time you have now.
I just picked up a new book by Loral Langemeier called Put More Cash In Your Pocket, and she guides you through taking the skills you use/used in your job and turning that into a way to make your own money.
This is a good read to get you going while you are looking for a job – and hey, you might not even need to get a job if you end up making lots of money doing what Loral teaches.
I also think that making yourself more attractive to the marketplace by investing in yourself (additional training, acquiring new skills, etc) will help you get a job and make you more employable over the long term.
There is something else to consider when job hunting. Are you currently planning to buy a home or refinance? If so, then stop and think. You must be currently employed when you complete your loan application. Some of you may want to quit your current job for whatever reason and then focus on getting a new one. Just hang in there until you find something you like. Your loan officer will thank you … EricJ http://www.dreamhomefinancing.com