Talking About Jobs, Compensation And More

Written by: Lori Gracing
10/22/2019

job-compensation

When it comes to career planning, it is common for young adults to take up whatever job they come across, especially when they are juggling schoolwork and the occasional paid work. Young people need money, to make a decent living, buy gas for their car and to have fun time with their friends. Then there is the big item expenses, like paying for college tuition, saving to purchase a car or traveling places. Often times, they get carried away doing petty gigs and fail to maintain good grades at school.

It is important for anyone starting out in the career path to excel academically, gain experience from school activities and prepare for higher studies. Why? Because the job you will ultimately end up in will make or break your lifestyle. The education you earn will make a huge impact on the job opportunities that you will be exposed to as well as how much you will be able to earn. For instance, a worker with a high school diploma is estimated to make a median lifetime earning of around $1.5 million. This figure is $2.5 million for those with a four-year college degree. Higher education calls for higher earnings like $3.5 million for a doctor or lawyer.

Having a college degree with excellent grades can significantly increase your chance of earning more money. According to statistics, more than 80 percent of people with bachelor’s or master’s degree made more than 200,000 dollars per year. Professionals such as sales manager and electricians with associate degrees also earned closed to this figure. For starters with degree, the average salary was around $45,000 in 2015.

Getting a job goes a long way in leading the life you want. With paid work comes responsibility, while you gain experience, learn time management, participate in teamwork and much else. These are the lessons that pay off throughout your career. Balancing work and life helps you achieve personal and financial goals quickly and easily as well. However, finding a job can sometimes be challenging. It is estimated that more than 10 percent of young adults stayed unemployed during the recent recession. You can look for jobs in newspapers, online ads and bulletin boards. Then there are other ways to find jobs, like asking friends, family or neighbors for ideas. The more people you get know, the more likely you will end up in a job that you like.

Paid positions for beginners are hard to find. If this is the case, consider taking internship in a field that you are more interested in and one that has high earning potential. No matter what, any experience will look great on your resume and would fit perfectly when you are in a position to go full-time. Another way to earn money is to start your own business. Again, look for something that matches your interest. Job shadowing to gain experience is one way to work towards your career. You find someone who will allow you to spend time and see what he or she is doing in a particular job. This may mean going to office for the day, attending meeting sessions, tagging along when they are with clients or customers and watching them work at their desk. You can also assist employees with their work to gain experience for future.

Most jobs are easy to apply. For job positions such as in sales or clerical, you will be required to fill out an application form and submit it to the hiring manager. If selected, you will be called for interview and if hired, given a tour of the workplace, appropriate training and teaching sessions. In all of these cases, you will need an impressive resume to standout among other applicants. Acing the interview is one of the hardest parts for most jobs. Remember that you only get one chance to make that first impression, so show them that you are the right candidate for the vacancy. This is accomplished by doing your own research about the company and knowing a lot of information pertaining to its business. Pay careful attention to what they are saying. After interview, make sure to follow-up or send a thank you note as soon as you can, preferably the next day of the interview.

Apart from the formalities of attending an interview and hoping to be hired, survey the landscape and the possibility of making a good living out of a particular job. Weigh in the pros and cons of various job offers that you have received. What skills and experience you will get from this job? Where will you be located? How much money will you potentially earn now and three or five years down the road? Would you rather work here or move on to another employer? These are the questions that you should find answers for.

Starting your own business is not a bad idea either. If you are good at something, you can start to get it all down in a document called business plan. The purpose of a plan is to set strategies for your business, establish and expand it in the future. Develop a monthly budget for operation as well as employment if you are hiring people. Account for the expenses related to machinery, products or services. Identify your customer base. Owning a business is equivalent to a full time job with extended hours. You will also need to finance the business through savings or loans from banks or financial institutions.

Earning money through a job is not just about getting paid for every hour you work. There are other ways of compensation as well. You could earn a salary irrespective of the number of hours worked. Compensation can come in the form of perks such as housing, healthcare benefits, bonus, transportation, paid time-off as well as paid education. You can also earn commission for completing certain tasks or reaching a certain goal. All these extra benefits can vary based on your experience and performance at the job.


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