Life after Clark

1. Life after Clark Presented by Clark University Career Services

2. It’s time to put all of your hard work at Clark into good use, but there are a number of concerns for life after Clark, such as: Employment Compensation Benefits Debt Living Arrangements Budgeting Congratulations!You’re Now in the Real World

3. Once You Have a Job Offer… • Start compiling a list of Pro’s and Con’s to better suit your decision. • Think about job title, responsibilities, advancement opportunities, income, location, commute, skills you will learn, contacts you will make, and exposure to a variety of clients. • Go with the best possible option for yourself!

4. Compensation • Gross Income vs. Net Income • Did you know that approximately 1/3 of your gross income will go to taxes and insurance? • As a result, your net income will be substantially lower than your salary entails. • Create a list of required and possible expenses to help determine whether the salary you are offered will cover those necessities.

5. Benefits • Retirement Plans- Most companies offer something like a 401K plan that allows you to put pre-tax (gross income) dollars into an investment fund managed by the company and in most cases your contribution is matched by your employer. It will grow into a substantial amount over the years! • Savings Plans- if your employer offers automatic withdrawal into a savings account or credit union, commit to having as much as you can afford taken out of your check and put into savings each pay period. • Flextime- The company may offer you the opportunity to work varied hours rather than strictly 9 to 5 which may be appealing now or in the future .

6. Benefits • Insurance- Employers will offer several insurance plans for which they pay a certain percentage and the rest is deducted from your paycheck. You should choose the insurance plan with the most comprehensive coverage for you. • Taxes- It’s best to have more money deducted from your paycheck for taxes than not enough. If you are single with no children, claim zero dependents on the withholding forms your employer has you complete. • Tuition Reimbursement- Many employers will pay for all or part of your future study, particularly if it is related to the business of the company. • Make sure you explore and understand all benefits offered to you. Not every organization will have the same benefits as another so pay attention.

7. Debt • Every college student is in some sort of debt when they graduate. • Be aware of all of your repayment options from your loan company. Usually repayments begin 6 months after graduation. • If you need an extension on your loan payments contact your lender and discuss possible courses of action. • Late payments can damage your ability to get a loan in the future

8. Credit Cards • Prepare to be flooded with offers from credit card companies after graduation. • Don’t buy into all of the hype because you could fall deeper into debt if you cannot make your payments. • Some words of advice: • Do get one card in case of emergencies and to establish a credit history. • Shop around and look for the lowest interest rate. • Pay cash for most things, save the plastic for big ticket items. • Try to pay off debt as quickly as possible.

9. Living Arrangements • Start looking for an apartment as soon as you know where you will be working. • When you move into an apartment be prepared to pay the first and last months rent, as well as a security deposit. • Be careful not to get locked into a long-term lease as those are difficult to break. • Consider renter’s insurance, it is relatively inexpensive ($100/yr for $10,000 coverage) and can protect you in the case of theft or a fire.

10. Budgeting • Budgeting is key to knowing what you can live on. • Use actual bills or estimate your expenses in the following areas: RENT _______ CAR PAYMENT _______ FOOD _______ INSURANCE _______ car, apt. PHONE _______ ELECTRICITY _______ HEAT _______ LAUNDRY _______ & dry cleaning STUDENT LOAN _______ CREDIT CARD _______ TRANSPORTATION _______ gas, tolls, public trans. CLOTHES _______ FURNISHINGS _______ ENTERTAINMENT _______ SAVINGS _______

11. Do's Do become a jack-of-all-trades Go beyond what is expected of you If you don’t know the answer, know where to find it Show interest in events held outside of office hours Give credit to others when it’s due Use email carefully Keep your resume updated, just in case… Write everything – personal & business - on your calendar Be polite Don’ts Don’t gossip Don’t publicize your private life--keep your private life private Think carefully before getting involved in an office romance Office Do’s and Don’ts

12. Core Skills for the Workplace • Etiquette: the ability to handle social situations appropriately. A good book on etiquette is a valuable investment. • Communication skills: ability to express yourself effectively orally and in writing; phone skills. • Math: basic skills to allow you to calculate tip at lunch; divide a bill among a group of colleagues. • Public speaking: you will be called on to present before a group at some time. • Typing: at least the ability to type error-free emails and memos • Computer Literacy:MS Office (Word, Excel, PowerPoint, etc.) • Teamwork Skills • Leadership Skills

13. In Closing… • Be careful of credit. Use it wisely and conservatively. Pay your bills on time. Contact your lender if you have trouble doing that. • Make a budget to outline your expenses and give you an idea of what you need to live on. Analyze the salary AND benefits included in any job offers. Don’t forget to weigh other factors (who you’ll meet, what you’ll learn, skills, exposure, etc.) • Pay attention to basic rules of etiquette and how you communicate. These are the things that will allow you to get ahead in your field. Interpersonal skills are often more important than knowledge. Present self professionally – especially necessary when you’re young. • Keep in touch with Clark and Clarkies - Alum on-line Community