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Fall 2014
Dear Students,
Business Career Services
We at Business Career Services are vested
Ernst & Young Center in your success. Our mission is to prepare
for Career Advancement you for the job search and to create job
opportunities. This is your guide to
1033 Business Instructional Facility utilizing the services of Business Career
515 E. Gregory Drive Services (BCS). Use information in this Career Search Guide
to stay ahead of the game:
Champaign, IL 61820
(217) 333-2840 Get an overview of the career search process
www.business.illinois.edu/bcs Create a stand-out rsum and cover letter
Connect with prospective employers through I-Link
Prepare for career fairs and interviews
Find us on Facebook:
Evaluate offers of employment
www.facebook.com/IllinoisBCS
Employers recruit at Illinois because College of Business
Join your programs LinkedIn group: students consistently meet their high expectations for
www.linkedin.com academic and professional preparation. You need to bring to
the table employable qualities such as demonstrated
Follow BCS on Twitter at @illinoisBCS
leadership and problem-solving abilities; quantitative,
analytic and communication skills; and unquestionable
personal and professional ethics. We encourage you to
develop these skills through involvement in College of
Business activities.
B U S I N E S S C A R E E R S E R V I C E S
INFORMATIONAL INTERVIEW
Informational interviews are interviews that you initiate persons time. When you are finished, make sure to thank
with the goal of gathering information about a field, com- the person for taking the time to speak with you and be sure
pany or career. They are great networking tools which can to send a thank you note within two days.
help you also build contacts in the field.
Some examples of questions to ask include: What is your
Step 1: Arrange the Interview: Take a look at your personal educational background? What education and training are
network, utilize the U of I alumni network, LinkedIn, or visit required to get a job in this field? What skills are necessary
BCS to discuss ways to develop new contacts. If you dont to be successful in this position? What are some examples of
have a personal contact at the company, then try calling the projects or activities that you do on a regular basis? What
company and asking for someone in a specific department. do you like most/least about this position? Has your work
When you contact the person, state your reason for calling. changed recently due to technology, the marketplace, etc.?
For example: Hi, my name is NAME and I am a business stu- How? How do you see this job changing in the future? What
dent at the University of Illinois. I am interested in a career in is the career path/advancement for this position? What is
JOB TYPE. Would you have 15 minutes to talk with me about the employment outlook for this career option? Is there any-
your career? Be sure to be flexible when scheduling the in- one else that you think I should speak to?
terview. If this person is unable to talk with you, politely
ask who he/she would recommend that you speak with. VOLUNTEERING
Step 2: Conduct the Informational Interview: Prepare for Volunteering can also be a way to learn about careers or to
your interview by knowing what questions you are going to get relevant work experience. Investigate volunteer opportu-
ask and being professional. Arrive properly dressed and on nities on or off campus and see if there is an option for you
time and bring paper and pen. Also, be respectful of the to explore your interests, education and career goals.
WELCOME TO BUSINESS CAREER SERVICES | 7
Networking is developing professional relationships that Although you may create and print your own busi-
provide you with insight, mentorship, and information. Just ness cards, University of Illinois Document Services
like knowing what your friends are doing this weekend or is the only source of officially branded cards includ-
keeping up-to-date with events in your hometown, profes- ing the University of Illinois logo. These cards are re-
sional networking gives you insight into what is happening ferred to as Job Search Business Cards and can be
in companies and industries. ordered online at https://w2p.printing.illinois.edu/.
Click on Continue to Document Services and fol-
WHERE TO START low instructions. Keep a record of your unique user
id and password for future access to this account.
Set goals regarding how many contacts yo want to make The cost will be charged to your student account,
daily, weekly, or monthly to reach the ultimate job or intern- and it may take up to 5 days to receive your cards.
ship. Have a planned, practiced 30-second pitch that is clear
and delivered with energy that creates interest.
member of an organization and take advantage of these
Get your contacts from some of the following resources: contacts and your common affiliation.
Recruiting Events Social/Professional Networking
Every employer event posted in I-Link is a networking op- Career search contacts can be made via LinkedIn, and
portunity. When an employer comes to campus, engage Facebook, among others.
in a short conversation. At the completion of the conver- Alumni Association
sation, exchange business cards and follow-up. As a student, you have free access to the online directory
Alumni Events of alumni who registered to connect with you and other
Attend functions arranged by your academic program. alumni. You can search the database by the alumnus
Student Organizations campus and college, degree year, major, company, job
Most student organizations in the College of Business title, and geographical location of both home and work.
have an alumni list or a list of contacts. Become an active To register, go to www.uialumninetwork.org and click on
the blue UI Alumni Sign in Here button. Then go to
Alumni Directory on the navigation bar.
Business Alumni Mentors Program Friends and Family
With a little searching, you will be able to find someone in
your social network that might be a great career contact.
Its important at all stages of your professional life to
find a mentor or strong role model to guide you. A
BUILDING YOUR NETWORK
mentor can play many roles in your life including
coach, teacher, friend, advocate, cheerleader, and
opener of doors. Networking can occur by phone, e-mail, and in person.
Everyone has been where you are and is willing to help, pro-
The College of Business Mentoring Program offers a vided you approach them professionally. To start a dialogue,
mentor to any student in the College. Students are briefly introduce yourself and explain that you are seeking in-
matched with College of Business Alumni through formation about the firm, the persons career path, or indus-
an online smart program that allows you to make try. From there, ask questions. Keep your questions brief and
preferences about your mentors occupation, years focused, being cognizant of your contacts time. See Informa-
out of school, degree, and region of the world. tional Interview(pg. 6) for questions to start a dialogue.
This is a one-on-one, year long, mentoring relation- In the same way your online communities have unwritten
ship providing benefits such as: rules, so does professional networking. When networking,
Education and career advice never ask for a job or internship. When this is done it ap-
Networking opportunities pears that you are using the person. In addition, keep your
Life-long professional contact network up-to-date on what is happening in your profes-
sional development. Following these simple rules will allow
For information about the program or to register for a you to grow your professional network. Keep track of who
mentor visit www.business.illinois.edu/mentoring you contacted, what you talked about, when you should fol-
low up. Stay in touch with your contacts in order to maintain
the relationships that you developed.
10 | WELCOME TO BUSINESS CAREER SERVICES
International Students
Students from other countries who are
in the U.S. with non-immigrant (most
commonly F-1 student) status must
consider immigration regulations when
making career plans. All questions re-
garding your legal employment eligibil-
ity should be directed to International
Student and Scholar Services, located
at 400 Student Services Building, 600
E. John Street, or online at http://
www.isss.illinois.edu.
I learned that I would seem to fit more into the tax side of
accounting than the audit side, which before the job
shadow I had no idea what side was a better fit for me.
Job Shadow Notes
Freshman, Class of 2017
Arranged in the December-January semester break
Specifically for me, the woman I shadowed gave me in- Posted on the I-Link Job Board; application dead-
sightful and helpful interview tips, that gave me confidence lines apply
about interviewing that I needed. Sophomore, Class of 2017 Submitting rsum is commitment to attend the
system-match opportunity
I got exposed to a real world case study. We had to work Submit a rsum to at least 10 and up to 15 oppor-
with a team and develop a solution for a real-life client tunities; submitting more maximizes likelihood of a
issue. Then, we had to present in front of a panel of market- match
ing judges. This was beneficial because we got critiqued on Submit a rsum ONLY to those for which you will
our plan and presentation skills. Sophomore, Class of 2016 be available, on all possible date(s) and in specified
location
This job shadow exposed me to an industry that I was un- Attend BCS Workshop to prepare for a successful
aware of before. It was helpful to be in an office setting and experience
see what actual business people do during the day. It gave Students are responsible for all expenses (trans-
me a little bit of a clarification on a major as well. Fresh- portation, lodging, meals, etc.)
man, Class of 2016
It really opened up my eyes to what HR is, I didn't know I learned that I would definitely enjoy working in a com-
much going into my job shadow. And it actually made me pany like this because you get to directly see your output
think again about my career and educational goals. Fresh- and what you are creating. Freshman, Class of 2017
man, Class of 2016
In addition to investigating different career options, some
It clarified what I should be doing in college in order to students landed a summer internship!
best set myself up for a job that I will enjoy in the future.
Sophomore, Class of 2015 HOW TO PARTICIPATE
The Job Shadow helped me to see that not knowing exactly To get involved in the Job Shadow Program students must
what I want to do career-wise right now isnt as big of a deal have an active I-Link account. Come to BCS in 1033 BIF if
as I had thought it was before. Freshman, Class of 2013 you do not have an active I-Link account.
Rsum Worksheet
By Pnina Steiner, Senior Director, BCS
This worksheet is designed to help you gather relevant information for use in your rsum.
CONTACT INFORMATION
1) your formal name, centered at the top of the page or at the far left margin. Your name should be in capital letters or
bold type.
2) address (include your campus and home address)
3) your telephone number
4) e-mail address
Name ____________________________________________________________________________________________________
Campus Address __________________________________________________________________________________________
Campus Telephone Number (______) ___________________ Campus E-mail Address ________________________________
Home Address ____________________________________________________________________________________________
Home Telephone Number (______) ____________________ Home E-mail Address __________________________________
OBJECTIVE
The next item on your rsum mayor may notbe an objective. The objective is not a must, especially if you have a
cover letter, but some employers prefer to see an objective on a rsum. On the other hand, including an objective may
NOT be beneficial on a rsum that will be delivered to a wide variety of prospective employers. If included, the objective
should be a concise statement of the work you want to do. In writing your objective do not focus on your needs, but rather
target it to the employers needs. An objective should have 2-3 components: 1) type of position (Accounting, Financial Ana-
lyst, Marketing, etc.); 2) type of employer (banking, consulting, manufacturing, etc.); 3) optional geographical preference.
Examples:
Accounting or financial management trainee with potential to utilize proficiency in Spanish.
Obtain a summer internship in the information systems field to utilize communication, management and
organization skills.
Seeking a position with a small- or medium-sized accounting firm, preferably in tax accounting in the Chicago area.
Objective ________________________________________________________________________________________________
__________________________________________________________________________________________________________
RSUMS | 13
The third step is to write the rsum content. You should not include every bit of information about yourself. You should
include only the most important and most relevant information to the position you are seeking. While you are a student, you
should lead with your education. Only if you have significant relevant experience, should you lead with work experience.
EDUCATION
Write your present or most recent educational experience first. Include the name and location (city and state only) of your
school, the degree and major you received or expect to receive (no abbreviations) and date of graduation. Include study-
abroad experience, indicating name of school, country, dates, and study concentration if it is relevant to your objective.
Name of School____________________________________________________________________________________________
City _______________________________________________________________________ State__________________________
Degree __________________________________________ Major/Concentration ____________________________________
Date of Graduation __________________ GPA ______________ (Include GPA if above average: 3.0 or above on a 4.0 scale)
Relevant Courses
It is often helpful to include a list of significant courses that relate directly to the job you are seeking. However, if your
work and leadership experience fill the space, you may not be able to include courses.
Examples:
Investment Management, Accounting Principles, International Economics
__________________________________________________________________________________________________________
__________________________________________________________________________________________________________
Examples:
Deans List 2013-2014, Ernst & Young Scholarship Award
WORK EXPERIENCE
(Full-time, part-time, co-op, internship, volunteer, summer, work-study, etc.) List experiences you have had within your
last one to three jobs. Chronologically list your work experiences starting with your present or most recent experience.
Write the title of your position, the name of the employer, the city and state where your job was located, and the beginning
and ending dates of employment (month & year only). Then, describe what you did; do not just list your responsibilities.
Write a brief statement of your accomplishments. See example below. Do the same for each position.
Examples:
Hired, scheduled, and supervised 17 employees.
Accurately compiled depreciation figures for use in internal reporting.
Monitored 100 computers in five rooms. Provided technical assistance to users.
Increased department sales by 30%. (Continued)
14 | RSUMS
Describe your participation in campus and community activities, highlighting leadership positions. Be careful when includ-
ing political or religious activities.
Examples:
President, Social Sorority Name, Year-Year
Treasurer, AMA (American Marketing Association), 20132014
Initiated Excel record-keeping system and prepared chapters financial statements
SPECIAL SKILLS
Examples:
Fluent in Chinese
Margolis Market Information Lab Software Proficiencies Basic Certification
Avoid
excessive
formatting
Marcy Doe
Marcy Doe mdoe@illinois.edu
mdoe@illinois.edu Current Address Permanent Address
Current Address Permanent Address 123 East Green Street, Apt. 7 123 Custer Street
123 East Green Street Apt. 7 123 Custer Street Champaign, IL 61820 Chicago, IL 60616
Champaign, IL 61820 Recommend Chicago, IL 60616 Cell: 773-567-1234 312-123-4567
Cell: 773-567-1234 using an 312-123-4567
objective Objective To obtain a full time position working with investments in a competitive environ-
ment utilizing analytical skills.
U of I Bachelor of
Education U of I, Urbana-Champaign Education University of Illinois at Urbana-Champaign, IL
Major in Finance No Science in Finance
Bachelor of Science in Finance, May 2015
College of Bussiness Abbreviations No Typos! Cumulative GPA: 3.68 / 4.00
Cumulative GPA: 3.68 / 4.00
Work Experience
Work Experience: 1/14 present Business Career Services, Champaign, Illinois
Business Career Services, Champaign, Illinois Dont forget to Undergraduate Assistant
Create at Undergrad Assist No Abbreviations
include dates! Encourage Business students participation in career enhancing events
Career enhancing events Maintain up-to-date alumni contact information
least three
Collected Information Inform students of career opportunities for certain majors
strong bullet Helped Students 5/14 8/14 Fifth Third Bank, Cincinnati, Ohio
points using List achievements Bankcard Intern
action words. Fifth Third Bank, Cincinnati, Ohio not duties: Results, Advised banking center managers on proper cross-sell initiative for credit cards
Bankcard Intern Results, Results! Produced a tax refund generating over $75,000 for the bank
See p. 15 for a Assisted banking center managers Initiated development of improving cost center designation for employee cards
list of action Produced tax refund for the bank 8/13 5/14 Residence Life, Champaign, Illinois
verbs Improved cost center designation for employee cards Resident Advisor
Served as a role model and resource person for a floor of 50 students
Residence Life, Champaign, Illinois Assisted in residents education, growth, and sense of belonging at Illinois
Resident Advisor Provided program planning and on-call responsibilities for 450 students
Served as a role model and resource person for a floor of 50 students
Add bullet Assisted in residents education, growth, and sense of belonging at Illinois Activities
points Provided program planning and on-call responsibilities for 450 students 9/13 5/14 Philanthropy Chair, Business Council
Coordinated numerous community service events for over 100 students
Activities 9/12 5/13 BCS Advising Chair, Business Council
Philanthropy Chair, Business Council Trained students to use the College of Business online recruiting system
BCS Advising Chair, Business Council 9/11 5/14 Intramural Sports
Be consistent Make sure
Soccer, Volleyball, Flag Football, Softball
with formatting Intramural Sports activities follow 9/11 5/12 Financial Committee for University Residence Halls
the same Approved monetary requests for hall events within budget constraints
Financial Committee for University Residence Halls format as work
Volunteer Experience
Volunteer Experience
experience 8/12 I-Guide, University of Illinois
I Guide Contributed to freshmen move-in for Residence Halls
6/11 Mission Trip, Monticello, KY
Monticello, KY Mission Trip Traveled as part of a select mission team to help Appalachian families
Repaired housing, taught Bible School, interacted with juvenile residents
Canned Food Drive 10/11 Canned Food Drive, University of Illinois
Honors Collected canned foods for the Residence Halls annual Food Drive
Academic Scholarship, University of Illinois
Leiby S. Hall Scholarship, College of Business Honors
Deans List Academic Scholarship, University of Illinois
Leiby S. Hall Scholarship, College of Business
References Available Upon Request Remove Deans List
RSUMS |
17
18 | RSUMS
Freshman Rsum
Mike Jones
mjones14@illinois.edu
Temporary Address: Permanent Address:
123 Green Street 456 Anystreet
Champaign, IL 61821 Anytown, IL 60001
(217) 121-1212 (222) 222-2222
OBJECTIVE To obtain a summer 2015 position that utilizes organization, presentation, and leadership skills
Mary Smith
smith@illinois.edu
123.456.7890
Campus Address: Home Address:
123 Busey Apt. 1 123 My Street Drive
Urbana, Illinois 61801 Anytown, Illinois 60010
OBJECTIVE:
To obtain a summer 2015 internship in marketing utilizing strong time management and
creative approaches
EDUCATION:
University of Illinois at Urbana-Champaign
Bachelor of Science in Marketing Expected Graduation Date: May 2016
GPA 3.2/4.0
EMPLOYMENT:
Server/Waitress, Office II, Champaign, IL 03/14 Present
Handle customer requests and maintain customer satisfaction
Compute customer bills
Initiate relationships with regular customers in order to meet their needs
Intern, Walgreens Accounting- Accounts Receivable, Danville, IL 5/13 08/13 and 12/13 01/14
Reconciled statements to look for evidence of payment
Analyzed and adjusted direct deposit slips via computer
SKILLS:
Proficient with Access, Excel, PowerPoint, Visual Basic, Microsoft Word, Adobe Programs
ACTIVITIES:
Volunteer Basketball Coach, Boys & Girls Club
Phi Theta Kappa Member, Illinois Leadership Academy
Academic All-American, Hospital Volunteer, Hospice Floor
American Marketing Association, University Partners Project
20 | RSUMS
Jon Doe
jdoe@illinois.edu
Current Address Permanent Address
123 Green Street 45678 Anystreet
Champaign, IL 61820 Anytown, IL 60001
217-123-4567 123-456-7890
LEADERSHIP Alpha Kappa Psi (Professional Business Fraternity) Fall 2010 Present
Mentor/Mentee Chair (Spring 2012)
Implemented relationships for upperclassmen to mentor underclassmen
Provided social and professional settings to initiate mentoring activities
Organized rsum workshops
Pledge Coordinator (Fall 2011)
Organized social events to integrate thirty pledges into the organization
Planned and implemented bi-weekly activities for over 100 members
Acted as liaison between pledge and active members
JOE SAMPLE
123 Armory, Champaign, IL 61820
(847) 123-4567
jsample@illinois.edu
CAREER OBJECTIVE
To obtain a full-time position in finance utilizing analytical and financial software skills
EDUCATION
University of Illinois at Urbana-Champaign
Bachelor of Science in Finance, May 2015
Cumulative GPA: 3.7/4.0
WORK EXPERIENCE
Smith Barney Northbrook, Illinois Summers 2013 2014, Winter 2013
Intern, Assistant to the Sales Manager
Assisted with financial planning by analyzing clients current investments, income,
liabilities, and risk tolerances to provide advice on asset allocation
Researched and analyzed stocks, bonds, annuities, and REITs using Bloomberg
terminal, MorningStar, Smith Barney Radio, and others
Assisted Sales Manager in analyzing and recommending various products to
customers and Financial Consultants
Managed databases by organizing customer data to provide Financial Consultants
the ability to perform filters, set-up call cycles, and analyze clients
Created Microsoft Excel sheets, PowerPoint presentations, and assisted with
technology
SKILLS
Margolis Market Information Lab
Software Proficiencies Basic Certification 2014
The Illinois MBA default rsum has the following formatting features that you should not change:
Length 1 page
Margins 1 on all sides
Font Times New Roman
Font Size No smaller than 10 point and no larger than 16 point
Order of Sections Name and Address, Education, Experience, Additional
Dates All dates should be in reverse chronological order (from most recent to oldest) within any section.
Include both the month (spelled out) and year
Content Never include pictures, marital status, age/date of birth. Do not use the words I, me, or my
File Name Save your default rsum using the following name format:
Last Name, First Name_Illinois MBA Resume.doc
Example: Jones, Chris_Illinois MBA Resume.doc
Presentation Print on a laser printer using high quality rsum paper
Your name should be the largest text on your rsum (16 point), in capital letters and bolded
Enter the address where recruiters will be able to contact you throughout the academic year. Adjust the font size so that
the entire address fits on one line. Note the telephone number format in the example below. Include your Illinois e-mail
address (i.e., cjones@illinois.edu, not party_animal@hotmail.com)
If you need additional separator bullets in the address line, copy and paste the ones provided
Include US states using the standard abbreviations Examples: Illinois = IL, New Jersey = NJ, etc.
CHRIS JONES
Example:
100 West Elm Street, #205 Urbana, IL 61821 (217) 555-1212 cjones@illinois.edu
BRANDING STATEMENT
Your branding statement should be one line, approximately 100 characters and should reflect your personal brand
attributes that you are marketing to a prospective employer.
Example:
Accomplished engineer and team leader with an extensive, global background in project management
EDUCATION
If you have more than one degree from the same institution, only list the institutions name once
Abbreviate academic degree names without periods Examples: BA, MS, etc.
If you dont know your MBA concentration, write MBA Candidate and delete the comma in the template
Include scholarships, fellowships or memberships in academic honor societies
You may choose to include your GPA and/or GMAT score if you so desire
Do not include your plans to sit for the CPA or CFA exams unless you have already registered
Example:
EXPERIENCE
If you held more than one position with the same company, only list the company name once
Include professional full or part-time, military, summer, volunteer, or classroom experience
Begin each description with a past tense action verb unless you still hold the position
Give the most space to the positions that are the most relevant to your future career
Quantify show the scope of accomplishments by using US dollar amounts and/or percentages
Dont use periods at the end of each line of text and dont have just one word on a line
Spell out numbers under and including ten
Example:
ADDITIONAL
Include foreign languages only if you are fluent in the language and it is required for your target position
Include computer skills that you are proficient in and are required for your target position
Include relevant leadership experience, achievements, licenses, certifications, and memberships
If your education or work experience is not in the US and you possess permanent US employment authorization, include
your authorization status
Do not include hobbies, interests, religious or political affiliations
Example:
When completed, please double check your rsum for the following items:
You may include your current GPA on your rsum if you prefer to do so
Do not include information in the EDUCATION section that should go in the ADDITIONAL section (see the
EDUCATION description above)
Do not include wordy sentences to describe your work-related achievements and results in the EXPERIENCE section.
Be concise!
Do not use bullet points in the ADDITIONAL section; make the list without them and indent any second lines
Do not use present-tense verbs to describe past work or academic experiences in the EXPERIENCE section
Do not start bullet points with non-action verbs in the EXPERIENCE section
Do not use numbers for the month of the year in each of your dates (e.g. 04/10 (incorrect) vs. April 2010 (correct))
Do not include periods at the end of your bullet points
Do not forget to include/update your specific concentration in the EDUCATION section once it is known
Do not submit a two page rsum to ensure there is no trailing blank page at the end of your rsum, remove all extra
spaces and line returns after the last character in your document
24 | RSUMS
EDUCATION
EXPERIENCE
MOST RECENT EMPLOYER COMPANY NAME City, STATE (or Country if non-US)
Title, Department Starting-Ending Dates (Month year Month year)
accomplishments in following formula:
action verb + accomplishment + results (example below)
Analyzed cash flow across three departments and identified $500,000 in savings
(maximum of five bullets)
relevant languages and computer skills as required by target job description, such as:
Fluent in Japanese and German (no need to list English; its assumed)
Proficient in C/C++, Java, HTML, SQL, Unix, Oracle 8i
additional information in following formula:
involvement + organization name + sponsoring institution + dates with month & year spelled out (if an entry is two
lines long, indent the second line)
President, Graduate Finance Association, University of Illinois, January 2010Present
include relevant leadership experience, achievements, licenses, certifications, memberships DO NOT include
hobbies, interests, religious or political affiliations
RSUMS | 25
1. Campus address
GIVEN NAME (SECOND NAME OR NICKNAME) LAST NAME
should be the building
Local Street Address City, STATE ZIP (XXX) XXX-XXXX e-mail@illinois.edu
number, street name,
Permanent Street Address City, STATE ZIP (XXX) XXX-XXXX other e-mail
and then apartment
number. For example,
EDUCATION
500 E. White St.,
UNIVERSITY OF ILLINOIS Urbana-Champaign, IL
Apt. 301
Candidate for Master of Science in (Program), May 2015 GPA: X.X/4.0
Plan to sit for CPA/CFA/other exam, Month Year
2. Date of your expected
graduation from the
PREVIOUS GRADUATE INSTITUTION (IF APPLICABLE) City, Country
University of Illinois
Exact Degree Title, Month Year GPA: 99/100
3. Enter your Illinois GPA
UNDERGRADUATE INSTITUTION City, State (or Country if non-US)
after summer
Exact Degree Title, Month awarded, Year awarded GPA: X.X/4.0 semester; update
(List academic honors) after Fall and Spring
semesters
EXPERIENCE
MOST RECENT COMPANY NAME City, State (or Country if non-US) 4. Use the grading scale
Title, Department Dates (month and year) appropriate for your
List accomplishments in following formula: institution.
action verb + accomplishment + results (example below)
Analyzed cash flow across 3 departments and identified $500,000 in savings 5. You may delete one of
(maximum of 5 bullets) the institutions, if not
(maximum of 5 bullets)
first.
SKILLS
7. Start and end month
Computer: (relevant skills for target job such as SPSS, SAP, SQL, Quickbooks, HTML, VBA) 8. Means you have the
ACTIVITIES
capabilities of a
HONORS
9. Means you have a very
Honor received + organization name or sponsoring institution + dates (example below)
strong command of
Morgan Stanley Outstanding Investment Associate Award, 20XX
the language both
written and oral, and
ADDITIONAL
feel comfortable
include licenses, certifications, memberships do NOT include hobbies, interests,
conducting business
religious or political affiliations
in that language
Date
First Paragraph. In your initial paragraph, state the reason for the let- Be positive: Tell the employer
ter, the specific position or type of work for which you are applying about the experiences you have
and indicate from which resource you learned of the opening. had that match the require-
ments of the position, dont
Second Paragraph. Indicate why you are interested in the position, point out the required attrib-
the company, its products or services. If you are a recent graduate, utes you dont have.
explain how your academic background makes you a qualified candi-
date for the position. If you had some practical work experience (i.e. Be concise: Never exceed one
internships, class projects), point out the specific achievements or page.
unique qualifications. Be specific.
Be honest: Dont embellish the
Final Paragraph. In the closing paragraph, refer the reader to the en- accomplishments, skills or
closed rsum which summarizes your qualifications, training, and qualifications you have.
experiences. Further, indicate your desire for a personal interview and
your flexibility as to the time and place. Repeat your phone number Beware of cut and paste: Re-
and e-mail address in the letter and offer any assistance to help in a format font style, size and color
speedy response. Finally, close your letter with a statement that will to ensure uniform presentation.
encourage a response.
Proofread: Many employers
Sincerely, consider the cover letter to be a
writing sample. Make sure you
review your cover letter for
Your Signature spelling, grammatical and
Your Full Name punctuation errors.
Enclosure (1)
Email: The cover letter should
be the body of the message.
Attach a rsum, in pdf format.
COVER LETTERS | 27
(position title)
I am writing to express my sincere interest in the ______________________ position ABC Company announced
(date)
in the ______________ (name of publication)
issue of _________________________. I am a senior at the University of Illinois studying
(your major)
_________________________ and will graduate in May 2015. I am especially interested in starting my career
with your company because _______________________________________________________________________.
(position title)
In addition, I am uniquely qualified for the _________________________ position and offer the following
experience and skills:
Built financial spreadsheet capturing live Bloomberg data to provide weekly market updates
Helped negotiate and secure a deal that resulted in $1.5MM issuance of asset-backed debt financing for
manufacturer
Built company debt schedule and cash flow analysis to assess transaction debt burden on future cash flows
Proven teamwork and communication skills earned through classroom projects and summer work programs
Enclosed is my rsum that further highlights my experience and skills. Once you have had the opportunity to
review it, I would like to meet with you to discuss my qualifications and how I can add value to your
company. I can be reached at (217) 265-0864.
Thank you for your consideration. I look forward to hearing from you. Bullet points should
correspond directly to
Sincerely, requirements listed in job
posting or to anticipated
requirements
Chris Smith
Chris Smith
Ethics in Recruiting
Professional Integrity involves main-
taining honest and respectful relation-
ships between students, the College of
Business and employers. Expectations
for representing the College of Busi-
ness and fellow students include (but
are not limited to) the following:
GUIDELINES
What is I-Link?
I-Link is the on-line Career Management System provided by
Business Career Services. Using I-Link, students can search
for and apply to Job Shadow, Career Exploration, Internship
and Full-time positions; schedule an on-campus interview if
pre-selected by the company; obtain details on upcoming
events such as Career Fairs, Company Information Sessions
and BCS workshops; schedule an appointment with a BCS
career adviser, and more.
about the Mall of America. With a be sharing information. Be sure to interest groups. Search for an
little family discussion and plan- get three different perspectives ILLINOIS alumni club in your area
ning, you could probably see a few from employees at different levels where you can meet other alumni
more aspects of the Minneapolis-St. in the company. and find connections outside of
Paul area to get a more full impres- Office Visits/Job OffersWhen work with different interest groups.
sion of all the area has to offer. given an office visit/interview, find Explore and Embracenow that
Have a general conversation early ways to work with the company to you are in your new location, get
on with your parents about such get a sense of what the commute out and enjoy getting to know the
questions as What about if an op- looks like, where people might live, culture and the sights. Think about
portunity takes me out of state what characteristics are unique to taking short vacations to neighbor-
after graduation? This will start a their living/cultural/entertainment ing states to see more of the beauti-
discussion on what your parents environment. ful United States. Throughout your
thoughts might be and give you all When receiving an offer, under- career, as you relocate, always em-
time to adjust to the possibilities stand the cost of living differences brace the local community you are
that might be down the road. This using internet resources. Look at living in like you will be there for
might help you to initially focus on all the factors that are important the rest of your life. This attitude
the West Coast, Midwest, East for youboth short and long will help you connect with a lot of
Coast by narrowing the geographic termas you try to find the best fit great life-long friends. Also, those
scope of your search. for you. It is easy to look at factors communities will welcome your ex-
such as compensation dollars, but pertise, leadership, serving and giv-
There are many huge companies out- a mature job seeker understands ing to make the community a
side of Illinois, and you may find a bet- that a lot of other factors go into a better place for everyone.
ter fit by expanding your job search. first job decision that can provide
Hannah Palmer (2013 Finance) more work/life balance and an en- By expanding to a new city, country,
joyable first job in your career region, you immediately market your-
PHASE 2 THE INTERNSHIP/FULL field. self as a risk-taker, mobile, and step-
TIME JOB SEARCH & TRUE ping outside of your comfort zone.
RESEARCH ON WHAT FITS YOU BEST Besides salary, they should think The world we live in is becoming
about opportunities for growth and more and more global and competi-
Research the different areas of the learning within the company, diversity tive, so starting that move early in
country and the business climate in of positions available, etc. I think this your career can put you ahead.
various states. Which companies was the most important hurdle for me Lindsey Vrtis (2010 Finance)
can fit your vision of the future? to get over when I decided to look for
Which companies are in metro jobs outside of Chicago. CLOSING THOUGHTS
areas that are thriving? What do Karen Achtien (2011 Finance and
various rankings say about the International Business) We wish you the best as your start
states that you are looking at? your adventure to find just the right
What about quality of life? PHASE 3 STARTING OUT ON company that has the attributes you
Once again, use the Business Ca- YOUR OWNEMBRACE YOUR NEW are looking for. Make sure you start
reer Services systems, resources, LOCATION early and connect with Business Ca-
career fairs, and presentationsdo reer Services, expand your mindset on
not be afraid to ask them what As part of your offer, your em- locations outside of Illinois, thor-
they know about out-of-state com- ployer should have provided you oughly research different companies
panies and locations. They may the relocation policies and other and different geographies, do a job
also be able to tap into the large details. Most employers realize the shadow or internship in another state,
network of Illinois alumni out there relocation transition you are mak- find and accept the best job that has
to connect with at a wide variety of ing and make sure that they take the most opportunity for you no mat-
companies. care of a lot of your concerns about ter where it is, and then enjoy and
Have an open dialogue with re- the relocation with their policies so embrace the experience. You never
cruiters about your thoughts on the that you can get to your new loca- know where your decisions might
pros and cons of moving to their tion without those worries and be lead your life adventure in the next 25
location and understand the longer ready to start your career with years. I sure could not imagine all the
term possibilities of relocations. them. positive ways my internship decision
Any prospective employer should Network, Network, NetworkLook would shape my future!
be connecting you with various to make new friends and connec-
types of people so that you can feel tions at your employer in your
comfortable with your out-of-state function of expertise, outside your
decisions, and both sides need to function, and through employee
38 | JOB APPLICATIONS
When: Provide references only when you are requested to Thanking your references is critical to maintaining a good re-
do so by the employer. Do not include references on your lationship. Send a handwritten note after he/she has pro-
rsum unless required. You need to ask each reference vided the written reference or been contacted by the recruiter.
for his/her permission before giving out any contact in- Follow-up with an e-mail or phone call once you have heard
formation. the results of your application. Your references will appreciate
your efforts to keep them updated!
Who: Having a diverse list of potential references allows
you to select the references you use for a particular posi- JOB HISTORY
tion. Your candidacy for a position that values leadership
experience could best be supported by an extra-curricular Some employers require a security clearance, which means
reference, whereas a professor might provide information they will be conducting a background check that requires
needed for an analyst position. When in doubt, ask for your full job history. These background checks often mean
your recruiters preference. you will need information not on your rsum, such as all
Professors: Select those who know you well and can part-time or temporary employment. Having a spreadsheet
speak to your work product. Make an effort to get to with the employer name, address, supervisor name, title of
know faculty by meeting with them outside the class- position held, exact dates of employment, etc. will ensure
room so they know you, not just your grade. you can easily and consistently answer all questions.
Professionals: supervisors from internships or jobs
you have performed well. PAST RESIDENCES
Internship Tips
tuition and/or fees. Talk with your aca-
Internships Do demic department about classes that
Consider the internship to provide credit for an internship.
A great way to strengthen your rsum be a several-week interview.
is to do an internship, but the benefits Take Initiative. Consider Summer vs. During School
dont stop there. By interning, you can Network. Term. The majority of internships are
gain professional skills, insight into a Find a Mentor. available in the summertime. However,
particular industry or organizational Identify problems and bring more opportunities are becoming avail-
culture, and connections that might solutions. able for undergraduates who are willing
lead to a full-time job. Internships can Treat everyone with respect. to take a semester (or longer) off from
also be a testing ground for potential Listen actively. school and participate in a semester-
new employees. Companies are spend- Ask a lot of questions. long internship or co-op. For example,
ing more time and resources developing Be positive Attitude deter- public accounting firms offer Winter In-
internship programs because they pro- mines Altitude. ternships during Spring Semester. These
vide an efficient way to identify excel- Be prompt even early. types of experiences can be extremely
lent candidates for full-time positions. Seek feedback. rewarding and can provide a break from
Take the internship seriously. the academic setting. Some employers
There is a lot of competition for intern- Work hard. are willing to extend internships over
ships. The following suggestions may the academic year on a part-time basis.
Dont
help you secure a rewarding internship: Part-time may not provide as clear a pic-
Arrive late.
Dress inappropriately. ture of what the daily demands are in a
Start Early. Companies advertise their given profession, but youll learn
Use the phone/internet for
summer internships during the Fall and enough to assess whether or not you
personal use.
Spring Career Fairs. You can network enjoy a particular job or industry.
Leave projects incomplete.
with employers throughout the fall by
Wait to be given work.
meeting them at the Career Fair, work- Looking for an internship is not differ-
Seem uninterested.
shops, employer forums and Company ent than searching for a full-time posi-
Information Sessions. You may get a tion. Utilize all of the resources
jump start by participating in the Job available to you including on-campus
Shadow Program (see page 10). When to help on a part-time or project-by-pro- recruiting, networking, websites and
recruiters are ready to hire interns, you ject basis. If an organization has not professional associations. Once you
will be top-of-mind. hired interns in the past, they may be have secured an internship, make the
willing to take a chance on an assertive, most of the experience:
Prepare. Make sure your rsum high- intelligent student.
lights your skills and accomplishments. Be responsible. Show up on time and
Although an effective rsum will get There are a variety of internships avail- work hard.
you an interview, a successful interview able to students. Here are some things
will get you an internship. Take advan- to think about when you are evaluating Take initiative. Volunteer to help on
tage of Business Career Services (BCS) a potential internship: projects. Be responsible for projects you
Employer Rsum Critiques and partici- work on by gathering information you
pate in an Employer Mock Interview to Evaluate Paid vs. Unpaid. The majority need to complete them and by asking
hone your interviewing skills. of paid internships are offered by large for guidance when its needed.
companies. Consulting, investment
Network. Making contacts is instrumen- banking, commercial banking, account- Learn the business. Get to know the
tal in your search for an internship. Talk ing, information technology, and market- company culture, the market, goals,
with alumni, friends, parents, neighbors, ing offer paying internships. However, clients, trends and competitors.
relatives, friends of your parents, parents unpaid internships still offer opportuni-
of your friends, and anyone who is in ties to gain valuable work experience and Network. Interact with coworkers
the company or industry where you are can have a pay-off when you are looking whenever possible. Arrange for infor-
interested in working. Attend Company for full-time work. In addition to making mational interviews to discuss how they
Information Sessions, workshops, career connections, you can also get training got their jobs, what they do, and about
fairs, and talk with recruiters, even if and an understanding of the industry. the pros and cons of the industry and
they are not currently seeking interns. company. If youd like to work at the
Compare Credit vs. Not-for-Credit. company after graduation, make sure
Be Creative. Because there are more stu- Depending on your major and the in- you stay in touch with your contacts.
dents than there are internships, it can ternship description, you may be able to Send them e-mails with updates on rel-
be difficult to find a productive intern- earn credit for your internship. In some evant courses or your future plans.
ship. Be proactive and creative. Talk with situations, employers may require in- Even if your career takes a different di-
companies and professionals in your tar- terns to be registered for a university retion, you will still have excellent pro-
get field and develop an opportunity for class as a condition of employment. fesional contacts and references for
yourself. Consider volunteering, offering Class registration requires payment of future job applications.
40 | INTERVIEWS
Types of Interviews
There are many ways to conduct inter- What is your favorite class? You have 9 objects and a balancing
views. The format an employer chooses Walk me through your rsum/tell scale. One object weighs more than
depends on the organization and the me about yourself. the rest. You can only use the bal-
position you are interviewing for. Typi- What do you consider to be your ancing scale 2 times. How do you
cally, on-campus interviews are behav- top 5 strengths? Name 3 of your find out which object is the heaviest?
ioral interviews conducted with one weaknesses.
interviewer, however, some companies What two accomplishments have BEHAVIORAL INTERVIEWS (See arti-
may have several or even a panel of in- given you the most satisfaction? Why? cle on page 43.)
terviewers. Interviews can include apti- What interests you the most about
tude testing, Pre-Night information this position? About working here? CASE INTERVIEWS
sessions for all students being inter- What do you know about us?
viewed, and formal meals. You should Why do you want this job? Why The case interview is a specific kind of
ask the recruiter what to expect when should I hire you? interview used by consulting compa-
you are scheduling the interview. Is there anything else you want to nies in all different industries, as well
tell me? as some banking and financial
TRADITIONAL INTERVIEWS institutions. These types of interviews
Technical Questions are aimed to test the candidates ability
Traditional job interviews use broad- How are the three financial state- to think analytically, communicate pro-
based questions to determine if the can- ments linked? fessionally and handle ambiguity in
didate has the skills and abilities to How do you value a company? order to evaluate the candidates poise,
perform the job and if the candidate What are the DOW, NASDAQ and self-confidence, and level of enthusi-
will fit into the organization. S&P 500 at today? asm for solving problems. There are
Name 3 assets and 3 liabilities. several different types of case inter-
Prepare but dont memorize your an- Walk me through an income state- views including: market sizing ques-
swers to these straightforward ques- ment. tions, written cases and business/
tions. situational cases and brain teasers. Ask
Brain Teasers the company recruiter about what type
Here are a few sample questions: What is the angle formed by the of case interview to expect and prepare
Why did you choose the U of I/your minute and the hour hands on a for, and visit your BCS career adviser
major? clock when it is 3:15 pm? for additional assistance.
42 | INTERVIEWS
Group interviews help to highlight the attributes necessary Provide detailed answers and specific examples.
to serve as a competent team member, such as leadership, Ask appropriate questions about the job, the employer,
teamwork, and time management skills. and the interview process.
Interviews usually consist of 2-5 candidates participating
in a team exercise. VIDEO INTERVIEWS
Candidates will plan, implement, and evaluate a specific
project. Employers may opt for video interviewing as a first-round
Exercise will be completed under strict time constraints. interview. If the company recruits through BCS, BCS staff
Candidates will be evaluated on specific criteria. will assist with technical arrangements. Before a video inter-
view, see a BCS career adviser for additional assistance.
Here are tips to help you perform well in a group interview:
After reading the team exercise, brainstorm ideas and Here are a few tips for a successful video interview:
draft an outline to help complete the task. Prepare for and conduct the interview as you would an
Take an active leadership role among candidates. in-person interview.
Make sure to listen to other candidates opinions. Choose colors wisely. Shades of blue and solids are pre-
Propose specific and realistic recommendations. ferred; reds and bright colors can be distracting on camera.
Try recording yourself to see how you appear on video.
TELEPHONE INTERVIEWS If not interviewing at BCS, choose a quiet location where
you will not be disturbed.
Telephone interviews may be part of the screening process Ask for assistance prior to the interview if you are unsure
before a formal interview. Sometimes, employers call, unan- how to use the equipment.
nounced, to see how well you think on your feet. Other During the interview, show your personality; listen
times, the phone interview is scheduled. Meet with a BCS closely; do not be distracted or let your eyes wander;
advisor to prepare for a phone interview. Here are some tips speak clearly and confidently; lay out notes and your r-
to help you be prepared for phone interviews: sum in front of you for reference; do not make any un-
Conduct interviews using a land-line, if possible. If plan- necessary noise; smile; sit properly and do not fidget; ask
ning to use a cell phone, make sure you will have good the interviewer to repeat the question if you could not
reception in your interview location. hear it due to interference or connection problems.
Be prepared for unexpected calls: keep your rsum and Remember: Treat this as you would a traditional inter-
notes handy. view. Maintain professionalism throughout, answer ques-
Stand up and smile while you talk. Speak as if the person tions in the same way, and speak directly to the
could see you. personor camera.
INTERVIEWS | 43
Relocation/Travel
Are you willing to relocate? What is your view of traveling?
Work Experiences
What were your accomplishments in prior positions?
What would your last two employers say about you as
an employee, either good or bad?
What projects were accomplished during your time on
the job? How were these done?
What can you tell me that you enjoyed most about your
previous job experiences? Least?
INTERVIEWS | 45
EXPERIENCE
In todays job search market, it is critical that you utilize Ms. Mary Smith
every opportunity to promote yourself also called self- Vice President for Marketing
branding! Sending a thank you letter is another way to A & B Corporation
10 Industry Park
leave a positive and lasting impression. Think of the follow-
Anywhere, AL 20538
ing before you begin to craft your thank you letter:
What format will be best? (email, handwritten note, etc.) Dear Ms. Smith,
The format is typically determined based on the culture
of the organization, and what would be most appropri- The Management Trainee position we discussed this morn-
ing is very challenging and exciting. You gave me a list of
ate from your interactions with the interviewers.
the job requirements and after reviewing them, I am confi-
What key points do you want to reiterate based on your dent that I can make a substantial contribution to your
conversation? organization.
Were there any skills or qualifications not discussed dur-
ing the interview that you would like to highlight? As you may recall, during our conversation I briefly de-
scribed some of my past experiences and their relevance to
this position. The following points highlight some of those
GUIDELINES TO CONSIDER qualifications:
Send your thank you the same day as the interview if Proven ability to make critical decisions quickly and suc-
possible, or within 24 hours. cessfully.
Use bullet points to highlight key notes and to improve Summer internships in budgeting and planning at a large
readability. corporation.
Recognized ability to balance several projects
Utilize the same template/page layout as used for your simultaneously.
rsum or any documents you provided. This shows con- Effective public speaking experiences to groups of 200+.
sistency and promotes your brand. Experience working with diverse populations.
Keep it short and to the point (2-3 paragraphs max!) Strong desire to excel in any project that I undertake.
Thank them for their time
I appreciate your time and efforts in speaking with me. Do
Reiterate your qualifications
not hesitate to contact me at (123) 456-7890 if you have any
Highlight an important topic you discussed during the additional questions. I look forward to hearing from you
interview soon.
Close with confidence and claim the position as yours
Sincerely,
As a best practice, thank you letters should be sent to every-
one that you interviewed with and should be unique to each John Doe
person based on your conversation. If you met with multi-
ple people, start each letter differently, (i.e. I appreciate you John Doe
taking the time, Thank you for meeting with me to dis-
cuss) and highlight what was discussed in their particular
INTERVIEWS | 49
Many companies arrange for recruiters Remember to send a thank you letter
to take you to lunch or dinner during (or e-mail) to everyone who inter-
the interview. Meals allow you to viewed you. A thank you letter tells
meet a company representative in a the employer you are enthusiastic
more casual setting and can also ex- about joining the organization, that
pose you to the culture of the com- you value professional relationships,
pany and the city. You are still being and that you pay attention to detail
interviewed during the meal, so and follow-through.
remember to have good dining eti-
quette! (See page 28.) HANDLING TRAVEL EXPENSES
Since arrangements for an on-site office Funding a site visit varies from com-
visit are coordinated between you and pany to company. Some companies
the company, you will want to get direc- may assist candidates by pre-paying all
tions to the company and an agenda. If expenses and some will arrange to
the office visit is out of town: reimburse youso keep all of your
50 | EMPLOYMENT OFFERS
Salary Evaluation
You dont want to give the impression
that you consider salary to be the most
important aspect of your employment,
rather you want the employer to know
that you are genuinely interested in the
position. However, you should go into
an interview knowing how much you
want to make, and work toward that
goal.
Pay attention to deadlines. Ask the retirement investment programs and the period of one year. In addition,
employer to allow a reasonable amount vacation time just as heavy as salary. ask if the company has other increase
of time for you to consider the offer. See pages 5253 for a description of incentives.
these benefits.
Research the typical salary range for Avoid reneging on an offer. You need
the position(s) that you are consider- Ask how often salary reviews are to guard your reputation and may
ing, including the geographical consid- conducted and the average salary in- want to seek an opportunity with the
eration of what this type of position crease that can be anticipated over organization in the future.
pays for the location.
Benefit Summary
Dental and/or Vision Insurance. These coverages may
come as part of the health coverage or be offered separately.
They are similar in design to traditional health insurance in
many organizations in that they often have deductibles and
co-payment arrangements but in many instances, these
plans often take on some of the HMO characteristics such as
preventative and early treatment emphasis. For example,
many dental plans pay for the entire cost of routine clean-
ing, inspection and x-rays every six months. If restorative
work is necessary (fillings, extraction, etc.), then a co-pay-
ment arrangement is very common.
Vacation Pay. Now that you no longer have seasonal breaks Preferred Provider Organizations (PPO)
from school, check to see how much vacation time your em- PPOs encourage the employee to seek medical services at
ployer offers. Is there a waiting period? How many days are Preferred Providers. The employee pays a co-pay for
offered for your first year of employment? Will you earn ad- each service with a yearly deductible before the insur-
ditional vacation days with tenure? Are there separate allot- ance begins paying medical fees.
ments for sick and personal time or is it one pool of paid The employee may pay out of pocket expenses if they
time off? choose a physician, clinic or hospital outside the list of
preferred providers.
Healthcare Benefits This plan is attractive to the new employee who does not
Employers typically offer a choice among the following com- already have a designated physician or medical facility,
mon types of healthcare coverage. The employee selects the or if the employees physician is participating as a pre-
health care plan that best meets individual/family needs. ferred provider.
Cell phone plan discounts Profit Sharing Plans. Each year, the employer looks at
the profitability of the firm and then, at its discretion,
Health Care/Dependent Care flexible spending determines an amount of money (usually stated as a
accounts percent of each participants wage) that is contributed
to a trust for the benefit of the employee. The annual
Associate Assistance Plan contribution to the trust can be cash or employer
stock or both, and cannot exceed 15% of the em-
Paid time off for volunteering in the community ployees compensation in any given year under the
current tax code.
Defined Benefit Plans. As the term implies, a benefit to Eligibility For 401(k)s, when are you eligible to begin
be received in the future is defined today. For example, at contributing? Some companies offer immediate eligibility
the specified retirement age, you may be entitled to re- so you can begin immediately; others have a waiting pe-
ceive 30% to 50% of your highest five-year average an- riod before you are eligible to contribute.
nual pay in the form of a monthly annuity for the
remainder of your life. The longer you work for the em- Vesting When is the money yours? When are you
ployer, the higher the percent of benefit you receive. This vested? Anything you invest from your personal funds is
type of plan is usually funded entirely by the employer 100% yours. However, you typically have to work for a
and is structured to reward long service employees. In- company for a certain period of time before the employer
vestment of funds necessary to pay benefits is entirely in contributions are yours to keep. If you leave the organi-
the control of the employer who bears the investment zation before you are vested, the employer keeps the em-
risks of the funds. Because of the complexity, costs and ployer contributions that were made.
greater mobility of the workforce, many firms augment
pension plans with some form of a defined contribution
plan. Many companies solely offer a defined contribution
plan and do not offer pension plans.
The job you should take is the one that offers you the most
value. Critically, this means a salary negotiation is not just
about your salary. It is about the total value of the package
including salary, benefits, job conditions, opportunities,
location, etc. Would you be willing to accept a job that of-
fered you no salary? Your answer should be, It depends on
what else they offer! It is important to remember that what
you want is the most overall value. You should be willing to
consider giving ground on any issue in a negotiation in-
cluding salary in a salary negotiation as long as you end
up with the most value overall.
in signing bonus? Usually assigning relative value is not so (C) CLAIM your share of the value on the table
easy. We are used to thinking about preferring more salary The goal of all negotiation is to satisfy your own goals and
to less salary, and preferring more signing bonus to less preferences. We make trades because it helps us find more
signing bonus. We are probably not used to thinking about value, and that gets us closer to satisfying our needs and ac-
how much we prefer more salary to more signing bonus. complishing our goals. However, sometimes we can get
But this is critical to being a good negotiator! more of what we want by convincing the other side that is
what they should want to give us. An employer is much
Second, you need to understand what the other side values. more likely to give you what you want if you can make
You may be able to find this out in your interviews, or in what you want seem reasonable. For example, if you are
your discussions with your prospective employers. And we looking for a salary of $50,000, you should be prepared to
always advise job candidates to ask lots of questions. How- justify this number. Why is this the right number? Do you
ever, you will have more confidence in the information you have evidence that proves this is what you deserve? You can
get outside of the interviewing process. Do you know any- use the information you have collected for example, about
one currently working for the company? Does your Career what other companies are offering for a job like this, what
Services office know anyone currently working for the com- other students with your qualifications have been offered,
pany? Can you get information from salary surveys? Any- etc. to provide an account that makes what you want
thing you can do to find out what items are likely to be in seem reasonable.
the offer, and which items are easier or harder to negotiate
(because they are more or less valuable to the employer) will Significantly, you can make what you want seem reasonable
help you be a better negotiator. even if it isnt what anyone else has received. Remember
that negotiation is not just about what you are going to get
(B) BUILD a Bigger Pie from your employer it is also about what you are going to
Once you are offered a job, you can start negotiating to find give them. If you have more to give them than other candi-
out how much value a particular company is willing to give dates more experience, more expertise, even more enthusi-
you. Most of negotiating is about making trades. When you asm then you should be worth more to your employer
make a trade, you are trying to change the mix of what you than other candidates. You can use information to help you
are being offered for example, less signing bonus in ex- claim more value in the negotiation.
change for more salary. The best trades to make are the
ones that: In the end, our ABCs acquire information, build a bigger
pie, claim your share of the value on the table can start
Increase the value of the offer to you. If you value sign-
you thinking about how to negotiate successfully. Of course,
ing bonus more than medical benefits, then trading away
the more you negotiate, the easier it will become. But you
$1000 in medical benefit to get an additional $1000 in
must start, because you must negotiate in order to identify
signing bonus gets you more value even though the
which job really offers you the most value.
employer may feel it is the same amount of money being
exchanged!
Is it possible to negotiate even in tough economic times? It
Increase the value of the offer to the other side at no ex- is ALWAYS possible to negotiate if negotiation is about
pense to you. If you are indifferent between signing bonus changing the mix of what you receive, and doing so in a
and salary, and the company really prefers to give you way that helps both sides. For example, in tough economic
more salary, then trading away $1000 in signing bonus to times it might not be possible to simply get more salary --
get an additional $1000 in salary is a good trade because it but it might very well be possible to trade something else
helps the other side at no expense to you. When you make you have been offered for more salary. In tough economic
it possible for the other side realize more value, you make times, employers also often expect gratitude for the opportu-
it more likely they will say yes to what you want. nity, so maintaining a grateful tone is critical. In that sense,
Increase the value of the offer to both sides. Maybe you questions, requests, and demands in a negotiation all might
prefer salary to signing bonus because salary is forever. be received quite differently. But if you can do so politely
And maybe your employer prefers to give you salary to and professionally, and in a way that respects what the
signing bonus because signing bonus is now and that other side needs to accomplish, negotiation is always an
budget line is empty now. That means trading away option you should consider.
$1000 in signing bonus for an extra $1000 in salary is a
trade that actually brings more value to both sides.
Matching with an
Alumni Mentor is EASY
1. Visit www.business.illinois.edu/
mentoring
2. Create a profile
3. Invite a mentor from over 400
alumni volunteers
Contents at a Glance
Full listing on page 3