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Your First "Real" Job
Technology has dramatically changed the way job seekers operate. The internet now serves as the primary search and communication tool.
Be an educated candidate. Know the industry you’re interested in and the companies that are the major players. Read trade magazines and keep abreast of business news so you can have informed conversations with your interviewers.
When it comes time to accept an offer, take all the following factors into consideration:
1. Salary
Calculating how much you need should be your second plan of action during your job search. First, determine the type of job and industry you are interested in and adjust your lifestyle to make this a reality.
Once that is determined, you will now need to determine your cost of living. If you live alone in the West Village and are not getting any help from your parents, you will require a higher salary than your friend who lives at home and commutes in with her dad everyday. Be open-minded about lifestyle ideas so your decision can be based on opportunity and career path, not merely on salary.
When calculating your living expenses remember that your take-home pay will be about one third less than your net salary due to taxes.
What to include when calculating living expenses:
- Commuting costs
- Rent
- Utilities
- Food
- Clothing allowance (if you need to build a corporate wardrobe)
- Spending money
Ask any college grad, if spending and clothing expenses push your calculation to $50k salary - you might want to recalculate because many entry level salaries are lower and may require a bit of creative budgeting.
2. Environment
For some grads, the working environment can weigh in as heavily as the salary. A good indication of corporate culture is the company dress code. Creative companies are often more relaxed, although dress code has become more formal in the past few years, rebounding from the ultra-casual dot-com days.
Start-ups and other creative companies may have cool music playing, have many young people on their staff and be free of binding corporate structures. The laid-back environment and later starting hours (but longer working hours) tend to attract college grads.
Corporations and larger companies will have a more structured environment with a more formal feeling and a tighter bureaucratic system. You can expect to have a detailed job description with little deviation.
There are benefits to both types of environments and many companies fall somewhere between the two extremes.
3. Benefits
Health insurance is expensive. With large companies you can expect medical coverage to be 100% company-paid with plan options, while smaller companies may require an employee co-payment (usually 20-30%) and one chosen plan.
Vacation time will vary from company to company but you can expect to start with two weeks paid vacation, in addition to personal and sick days. Corporations tend to honor more holidays than creative companies; although, most ad agencies typically close the week between Christmas and New Year’s Day. Smaller companies honor the major holidays like Christmas and Thanksgiving but may expect employees to work on other holidays such as Columbus and President’s Day.
Most companies will offer a 401k retirement plan, an option where pre-tax dollars (up to 15% of your salary) can be invested for retirement and withdrawn after age 59-1/2. Many large companies will match your contribution up to a certain dollar amount, greatly increasing your investment. Start investing now to have a large savings for when you retire.
Don’t sweat it (too much)
Although your first job out of college is an important decision, it doesn’t necessarily shape your professional life. The contacts you make, your performance and how you blossom during this time will have a more profound affect on your career than the first "perfect" job.
Associate Resources | Write and Effective Cover Letter | A Good Resume
Successful Interviews | Interviews While Working | Thank You Notes
Providing References | Resignation Issues | College Grads
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