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Common Career Mishaps Young Employees Make

On your first full-time job after graduation, you are bound to make minor to costly mishaps. Keep in mind that it is okay to make these mistakes especially at the beginning of your career. It helps you to learn and as you bounce back, you will be tougher than you ever were before.

On that note, here are the Common Career Mishaps Young Employees (In Their 20s) Make…

1. WAITING GAME

First on the list is the irrational belief that you will magically land your dream position without any ounce of effort. No matter how skilled you are, you need to search for the job yourself. Some people maybe lucky as companies personally look for them after they graduated, however what if you are not one of them? Worry not. By working hard, you can achieve your goals and so much more.

And, once you are accepted for the job, do not forget to dress for the part. There is no right or wrong way to dress except if the company provides the uniforms. Nevertheless, the best thing for you to do is to wear conservative or non-revealing clothes in the first few days then adjust from there.

2. NEGLECTING THE IMPORTANCE OF NETWORKING

Resources and connections play a huge part especially in the business, marketing, and advertising world. Being able to keep in touch with your fellow graduates will help a lot. As young professionals, it will benefit you to attend networking events to increase your knowledge about the working environment. Also, having access to job opportunities at a young age is indispensable.

3. FAILING TO NEGOTIATE

Being fresh to the “working scene”, you may be prone to underrate your worth. This is why it is important to evaluate your skills, education, and experiences. Find out the average salary per year through PayScale.com. It provides salary information for a particular position from its global online database. For example, the average pay for a Sales Representative at Pharmaceuticals is S$46,006/year.

And, if you already got the job yet you feel underpaid and overworked, ask for a pay raise. If you do not ask then you would not get it. Realize that your bargaining strength is all in your head. You can do it!

4. LEAVING A JOB TOO SOON

There is nothing inappropriate with leaving a job unless you have not taken everything into consideration. When faced with a difficult situation at work, young employees often think that quitting will solve it.

You may be away from your annoying colleague but you are faced with unemployment and debt. Is it really worth it to quit? In this situation, it is best to weigh-in the benefits and consequences of your future actions first.

5. LETTING YOUR INFLATED EGO AFFECT YOUR CAREER

Your huge ego can translate in your Resume/C.V., your interview, and your actions. Instead of only boasting your strengths, find the skills that can help the company to improve and put it in your Resume/C.V.

Lastly, do not overestimate your abilities because you are merely starting a journey. Ask politely if you do not know how to solve an issue. This simple gesture can save the company hundreds of dollars.

Image Credits: Sara Ashley via Flickr

Sources: 1 & 2

4 Highest Paying Jobs In The Field Of Psychology

One of the most popular degrees, aside from Business Administration, is Psychology. There are various career paths to choose from including the fields of Forensic Psychology, Sport Psychology, Counseling, Clinical Psychology, School Psychology, and so on. Also, you can choose to work with children, youth, or elderly. All you have to do is search for what you are truly passionate about.

Now, if you desire to earn big in this area, here is the data from 2011-2014 to show the 4 Highest Paying Jobs In The Field Of Psychology…

4. FORENSIC PSYCHOLOGIST

Minimum Requirement: Master’s degree in Forensic Psychology. But, doctorate degree in forensic psychology, clinical psychology, and counseling can get you a better salary.

Forensic Psychologists carry out duties that are related with the law such as examining abuse, providing expert testimony, preparing witnesses of the court, training officers of the law, and profiling criminals.

3. ENGINEERING PSYCHOLOGIST

Minimum Requirement: Master’s degree. But, doctorate degree in Engineering Psychology will find you greater employment opportunities and better salary.

Due to the 21st century technology, there is a rapid growth in the demand for Engineering Psychologists. Engineering Psychologists focus on upgrading the technology, machines, and workplace environment to increase productivity and minimize danger. This in return will enhance the behavior of the employees and the people around.

Image Credits: Frits Ahlefeldt-Laurvig via Flickr

2. INDUSTRIAL/ORGANIZATIONAL PSYCHOLOGIST

Minimum Requirement: Bachelor’s degree in Industrial/Organizational Psychology. But, masters and doctorate degree will find you greater employment opportunities and better salary.

Industrial/Organizational Psychologists usually work in the corporate setting to help improve the performance and efficacy of the workplace. They are involved in examining workplace culture, employee training, human resources, and marketing strategies.

1. PSYCHIATRIST

Minimum Requirement: About eight years of post-undergraduate study with training.

Child Psychiatrists must be trained to treat children and teenagers who have mental disorders. While, General Psychiatrists do not specialize in a specific discipline. There are different kinds of Psychiatrists but one thing is for sure they are usually on the top of the list when it comes to salary.

Image Credits: Hartwig HKD via Flickr

Sources: 1, 2, & 3

Recruiting Millenials (Gen Ys) In Singapore’s Workplace

BACKGROUND

In a detailed survey by Robert Half, more than half of the local bosses in Singapore felt that people from the Generation Y (Gen Y) are hardest to recruit because of their unrealistic expectations. Following Gen Y is the Gen X and the Baby Boomers.

With a whopping population of about 90 million individuals of Millennials all over the world, the range of the generation is still debatable. Scholars defined the beginning of Generation Y as 1977 – 1981 while its end as 2002 – 2008. Studies on Gen Y, that are mainly comparisons of the different generations, are continuing to surface.

ISSUES AND SOLUTIONS

To prevent the costly process of recruitment and training here are some issues and solutions that may help…

1. UNREALISTIC EXPECTATIONS

Issue: Going back to the study done by Robert Half, it showed that the major challenges faced to retain Gen Y employees were unrealistic expectations on career advancement and wages.

Solution: Stella Tang, director of Robert Half Singapore, imparted that it is optimal for companies to engage the Millenial employees and give them roles that challenge their strengths in order to keep them. Also, employers must draw a comprehensive promotion path. While, Gen Y employees need to pace themselves and gain more experience before expecting a promotion

2. TECHNOLOGY DEPENDENCE

Issue: Employees from Gen Y often find the “shortcuts” to achieve tasks with the help of technology.

Solution: Embrace and accept technology. There is nothing wrong with going with the new tides because some of the marketing tools online can help your company advance. While, Gen Y employees need to perform the job effectively – even by shying away from technology at times.

3. CRITICISMS AND FEEDBACKS

Issue: Some Gen Y employees complain when given criticisms and feedback about their work.

Solution: Coming from the Gen Y, I know that we are more opinionated and outspoken about our rights than the previous generations. But, it is important to realize that constructive criticisms and feedbacks improve the company – its dynamics, products, and services. On the other hand, employers must approach them differently by giving constructive criticisms and feedbacks that instill confidence and direction.

Image Credits: Robin Hutton via Flickr

Ultimately, these are just guidelines that vary on every situation. I laud Gen Y for their enthusiasm and drive! Employees in Singapore and in the world must not be judge by their generation groups. Rather, they must be judge by their work ethics, experience, abilities, and growth.

5 Financial Steps You Must Take After Getting Your First Job

So you got your first full-time job after graduating…what happens next? You may be lost and unfamiliar with the new responsibilities ahead. So, it is best to keep your finances in check. These steps will help:

1. ALLOCATE YOUR FINANCES BY BUDGETING

List down your expenses (i.e., fixed and variable), your income, and debts. Be aware of your cash flow for at least 2 weeks to help you set up a budget. Do not panic if you still have to pay your student loan because a budget will help you plan your income allocation.

2. REDUCE YOUR STUDENT LOAN

Do not wait until the lender notices you have graduated, start now. The earlier you start making payments, the more you will save. Furthermore, if you have a private loan that you took out when your credit score was lower, there is a potential to borrow again at lower rate.

3. THINK ABOUT YOUR FINANCIAL GOALS

You may be living from paycheck to paycheck at the first few months but how about 4 years from now? Think about your long-term financial goals and start planning your budget accordingly. You may consider buying a house, traveling, or having kids, so start setting aside some money every month towards your goals. This will lessen the load and the stress.

4. CONSIDER BUYING THE INSURANCE YOU NEED

Insurance maybe in the back of your mind because you are young, healthy, and you got your life ahead of you. But, it will be the best thing you have ever invested on once accidents and unforeseen things happen. It is cheaper to buy insurance now while you are young because the risks are low. Many employers offer group life and group disability insurance, so it is more affordable and cheap enough to consider.

5. OPEN YOUR RETIREMENT ACCOUNT

I stressed this issue so much before and I will say it again. The best time to start your retirement savings is before you hit 35 years old. Wouldn’t you want to have a relaxing life with no financial worries once you retire?

Image Credits: 401(K) 2012 via Flickr

Then, set aside at least 5-10% of your income per month for retirement fund. Also, avoid debt as much as possible and get educated about your finances. Know how and why you should save for retirement before your mid-30s here.

4 Highest Paying Jobs That You Can Get With A Business Degree

One of the most sought after degree is Business Administration or any related Business course. If you desire to succeed in business, you shall not only focus on your grades but also on your networking both before and after you graduate.

Resources and connections play a huge part especially in the business world. Being able to keep in touch with your fellow graduates will help a lot.

Looking into the Highest Paying Jobs for Business Majors, I found a research by Monster.com and PayScale.com. Monster.com is an online global employment solution for people seeking jobs and for the employers who need the right people while PayScale.com provides salary data from its online database.

4. MEDIA SUPERVISOR

Average Salary: US$70, 800

Media Supervisors are usually found in the advertising or publishing field. They oversee media researchers, consumers, and planners to make sure that the right tone of ads appears on the social media, newspapers, radio, and TV shows. Their goal is to maximize the company’s media budget in the most productive way.

3. REGIONAL SALES MANAGER

Average Salary: US$71, 200

Regional Sales Managers are found in computer systems design, management, technical consulting services, agriculture, construction, health, pharmaceutical, and medicine manufacturing department. They develop goals and quotas, analyze staff sales, and manage training programs for the staff.

2. SENIOR FINANCIAL ANALYST

Average Salary: US$74, 500

Senior Financial Analysts are found industries such as banks, computer systems design, commercial equipment wholesalers, and security affairs. They are in charge of analyzing the data that affects the companies’ investment and other financial programs.

1. BUSINESS DEVELOPMENT MANAGER

Average Salary: US$82, 500

Topping the list are the Business Development Managers. Business majors in this line of work take advantage of business opportunities either by optimizing current revenue streams or creating new ones. They identify key partnerships, research information on consumers and competitors, and understand the industry’s landscape.

Image Credits: SmithGreg via Flickr

Popular industries that cater to Business Development Managers are consulting services, electronics and appliances stores, research and development services, and computer systems design.

Source: Monster.com

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