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Your Job and Your Money
Presented by Best-Selling Authors:
Timothy Augustine & Adam Carroll
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State of the college studentState of the college student
(Picture of Old school)
11/09/10 2
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Don’t Borrow From TomorrowDon’t Borrow From Tomorrow
What percent of all students have 1-2 credit
cards by their sophomore year?
93%
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What does the average college student carry for a credit card balance?
$2,700
Don’t Borrow From TomorrowDon’t Borrow From Tomorrow
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What is the average student loan debt for
undergraduates?
$24,568
Don’t Borrow From TomorrowDon’t Borrow From Tomorrow
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M aking a living
O ngoing savings
N eeds vs. wants spending
E mploying your money
Your money choices and their consequences
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Average income the first year out of college?Average income the first year out of college?
Accounting: $44,928Chemical Engineering: $56,269Management Information Systems (MIS): $45,391Marketing: $37,191Financial Services: $43,950Educational Services: $30,291Oil & Coal Products: $53,611Aerospace: $54,410Retail/Wholesale Trade: $34,932Transportation Equipment Mfg.: $51,610
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The Job MarketThe Job Market
ChallengesUnemployment rate 16 year high Competition is fierceLooking for multiple skills and flexibilityChange in expectations and skills desired
OpportunityTechnology generationAbility to multi-taskGlobal perspectiveBroad perspective of business / flexible
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Starting your job searchStarting 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.
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Why should I hire you?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?
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What traits are companies looking for?What traits are companies looking for?
Enthusiasm / MotivationFlexibility and Ability to AdaptSelf-ConfidenceFollow-ThroughCustomer OrientedOrganizedCommunication SkillsTime Management SkillsTeamwork ExperiencePotential
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Urgent IndustriesUrgent Industries
Life SciencesPharmaceuticalsMedical devicesInstrumentationBiotechnology research and ancillary services
HealthcareRenewable Energy (Wind, Solar, Biofuel)TechnologyFinancial Management
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Where do you want to work?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!
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How to Find OpportunitiesHow to Find Opportunities
Leverage your network
Use technologyCompany sites, job boards, associations Social networking sites
Professional and social organizationsAbility to work with others, leverage relationships and learn
University Career Centers and Alumni Center
Be Creative
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Networking WorksNetworking 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
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11/09/10 © How Hard Are You Knocking, Tim Augustine 17
Develop a Targeted ResumeDevelop a Targeted Resume
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Resume Selling PointsResume Selling Points
Noticed and ReadFedEx, Priority Mail, Creativity
Referred from a Network / Colleague
Error Free!
Industry Knowledge
1 or 2 Pages, Colored Paper, Easy to Read
Results OrientedTask Activities Results
• Quantifiable Results“Grew pledge class by 25%”“Grew revenue by 38%”
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Dressing the PartDressing the Part
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Land the First ImpressionLand the First Impression
General guidelinesClothes that fit- Buy and wear prior to interview
Perfume and cologneJewelry
Attention to detailBe preparedHygiene
Carrots
• PerceptionFirst impression
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11/09/10 21
The “Spotlight”The “Spotlight”
Bring a Professional Portfolio
Types of interview
Phone InterviewYou Initiate the Call.
Face-to-Face InterviewApplication, Resume, Questions
Group Interview• Take your time.
Meal Interview Eat Before the Interview!
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Your “cheat sheet”Your “cheat sheet”
Industry KnowledgeCompany KnowledgePosition UnderstandingYour Skills
Communication skillsTeamwork and collaborationFlexibilityAbility to learnAbility to get things done
How can he/she add value?
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Land the Job!Land the Job!
Understand entire packageHealth Care Premiums, Training / Tuition Reimbursement, 401 K, Vacation Time, Team Structure, Performance Reviews
Salary Negotiations10%, Over the Phone, “Based on My Research”
Monster.comSalary.comSalaryexpert.comSalarywizard.comBenefitslink.com
• Jobstar salary surveyUniversity Career Center Data
Follow-up - Acceptance Letter and LogisticsStart date, Start time, Work attire, Expectations
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Keys to Career Success!Keys to Career Success!
Personal SatisfactionDo you enjoy your job, people and environment?
Professional DevelopmentAre you learning and growing?
Financial RewardsAre you paid a fair market salary?
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Money in Your TwentiesMoney in Your Twenties
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• 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
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What is the average household credit card
debt?
$9,317
Don’t Borrow From TomorrowDon’t Borrow From Tomorrow
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How many credit cards does the average household carry?
14.7
Don’t Borrow From TomorrowDon’t Borrow From Tomorrow
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Making a Living –Which one are you?Making a Living –Which one are you?
The SpenderTaxes $600Apartment $600Car $400Insurance $100Credit Card $200Student Loan $300Food $200Miscellaneous $600
The Even-StevenTaxes $600Apartment $400Car $300Insurance $100Credit Card $100Student Loan $200Food $200Miscellaneous $600
The SaverTaxes $600Apartment $0Car $0Insurance $100Credit Card $100Student Loan $200Food $200Miscellaneous $600
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Student Loan PaymentsStudent Loan Payments
$5,000$5,000 $60.00$60.00
$10,000$10,000 $115.00$115.00
$15,000$15,000 $175.00$175.00
$20,000$20,000 $230.00$230.00
$25,000$25,000 $290.00$290.00
$30,000$30,000 $345.00$345.00
$35,000$35,000 $400.00$400.00
$40,000$40,000 $460.00$460.00
$50,000$50,000 $575.00$575.00
$60,000$60,000 $690.00$690.00
Student Loan Balance Monthly payments
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Credit Card PaymentsCredit Card Payments
$1,000$1,000 $40$40$2,000$2,000 $80$80$3,000$3,000 $120$120$4,000$4,000 $160$160$5,000$5,000 $200$200$6,000$6,000 $240$240$7,000$7,000 $280$280$8,000$8,000 $320$320$9,000$9,000 $360$360
$10,000$10,000 $400$400$11,000$11,000 $440$440$12,000$12,000 $480$480
Balance Monthly payment
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Your financial life… Your financial life… on $36,000 a yearon $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
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PAY YOURSELF FIRST!!(Take 10% of what you make and save/save it)
Checking SavingsMoney Market
On-going SavingsOn-going Savings
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Start An Automatic Investment Plan
Checking
Savings
Money Market
On-going SavingsOn-going Savings
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“Compound Interest is the 8th Wonder of the World!”
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1. Tuition & Fees2. Books3. Food (Meal Plan)4. Housing5. Transportation6. Clothing7. __________8. __________
1. Tanning2. Video Games3. Big Screen TV4. ____________5. ____________6. ____________7. ____________8. ____________
Needs versus WantsNeeds versus Wants
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Successful people do the things that unsuccessful people are not willing to do.
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$$$$$$$$$$$$$$$$$$$$$
$$$$$$$$$$$$$$$$$$$$$
$$$$$$$$$$$$
$$$$$$$$$
$$$$$$$
Wealthy
Broke
Employing your MoneyEmploying your Money
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$8 Billion
Unclaimed Scholarship Dollars
Your Money choices and your ConsequencesYour Money choices and your Consequences
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Which is a better “investment”?
Your Money choices and your ConsequencesYour Money choices and your Consequences
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Strategies – Slow and SteadyStrategies – Slow and Steady
Payoff student loans over timePay more than minimum on credit cardsInvest as much as you can in 401k and ROTH IRABuy a new carBuy a home
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Strategies – Moderately QuickStrategies – Moderately Quick
Pay off student loans within 5-7 yearsPay off credit cards within 3-4 yearsMax out 401k and ROTH IRABuy a used car or no carBuy a homeBuy a rental (or several) OR Start a business.
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Strategies – FastStrategies – Fast
Pay off student loans within 2 yearsPay off credit cards within 1 yearMax out your 401k and ROTH IRADon’t buy a car until you can pay cashBuy 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.
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Network with usNetwork with us
Tim AugustineAuthor and Professional SpeakerPhone: (248) 447-2005Email: [email protected]
Adam CarrollAuthor and Professional SpeakerPhone: (515) 991-7146Email: [email protected]