THE WALL STREET JOURNAL

CAREER GUIDE FOR STUDENTS

YOUR JOURNEY BEGINS HERE

The Wall Street Journal

guides you on your journey!
You're in college in order to prepare for an exciting new journey your career! The Wall Street Journal is the perfect
guide for this journey. The Journal isn't merely a newspaper - it's an approach to understanding the news, a way of explaining events, and a resource for enhancing your career This book is packed with exclusive Journal articles that will guide you as you prepare for your career - the types of articles youll find in The Journal every day. From rsum preparation and networking to salary negotiation and financial planning, The Journal will help make your journey a successful one. Enjoy it with our compliments!

TABLE OF CONTENTS
Underused College Tool: Campus Career Services Up Next for Seniors: Compose a Rsum How to Stand Out in a Job-Fair Crowd You Can Say Too Much Without Even Speaking Tips on Talking Pay for Twentysomethings How Not to Flunk the New Job To Uncover Hidden Job Leads, Take Advantage of the Grapevine Are Twentysomethings Ready for Commitment to Owning Real Estate? Retirement Planning For 20-Somethings: Dont Fall Into the Playing It Safe Trap

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Underused College Tool: Campus Career Services

By CHERYL SOLTIS

In the Fall of 2001, Rutgers University sophomore John Donnelly found himself at a crossroads. He was pursuing an undergraduate degree in psychology, but wasnt sure it was the right profession for him. Mr. Donnelly decided to take a semester off, and when he returned, he sought help from the Career Services office to figure out his next step.

Career-services departments help both students and alumni with their job hunts
The office at the New Jersey university gave him access to assessments of his interests and a behavioral inventory that evaluated what kinds of jobs might be suitable for his personality. It also offered other free services such as access to the federal governments jobs database, which supplies information on what a particular career might entail and average salaries. These were helpful to someone who knew what he didnt want, but wasnt so sure of what he did want, Mr. Donnelly said. He began working toward a dual degree in psychology and landscape architecture, and now is a draftsman at Melillo & Bauer Associates, a landscapearchitecture firm in Point Pleasant Beach, N.J. As graduates-to-be get ready to take their first steps into the working world and alumni

consider switching jobs, many overlook one of the richest resources on campus. Careerservices departments help both students and alumni with their job hunts. They offer information on writing effective rsums and cover letters, job fairs, mentoring programs and career counselors to coach students through the job hunt, and may offer a Web site that students can use to search for jobs and internships, and even upload their rsums for employers to examine.

Although larger schools often have more programs and bigger staffs, smaller colleges may be able to offer more personalized services
In addition to such standard services, some offices have launched programs with a wider reach. Trudy Steinfeld, executive director for the New York University Office of Career Services, says the university holds nearly 600 career-related seminars and workshops each year. It also runs mini career fairs with 15 or 20 organizations that focus on one sector -- typically a competitive field, such as publishing. It even sponsors a dining-for-success program where we take 100 students out to a restaurant and train
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them in dining etiquette, Ms. Steinfeld says. The program prepares students who might not otherwise be exposed to such situations for events such as lunch with a future employer or taking a client out to dine. Although larger schools often have more programs and bigger staffs, smaller colleges may be able to offer more personalized services. Green Mountain College in Poultney, Vt., which has fewer than 700 students, creates student-life transcripts that track extracurricular activities. Renee Beaupre White, director of career services, says the system helps students when its time to create a rsum. A senior might come in and say, Oh yeah, I think I did this, but I dont remember when, and this helps us and them keep a record, she said. Students get more one-on-one time at smaller schools, Ms. Beaupre White adds. I love the fact that Im able to know the students and that they can know me, she says. When should students get to know the career-services office? The most important thing for students is to be fully engaged in an academic program and fully involved in their residential setting, says Patricia Rose, director of career services at the University of Pennsylvania in Philadelphia. Typically first-semester freshmen are very busy acclimating to college life, but for secondsemester freshmen it could be a good time to see what career services has. Mike Sollenberger has a student job in the career-services department at BaldwinWallace College in Berea, Ohio, where hes a junior finance major. Working here helps me with networking skills, and it gives me an inside scoop on internships. Its definitely an advantage, Mr. Sollenberger said. Laurel Munshower, a production artist at Diversified Digital & Screen Printing Inc. in

suburban Philadelphia, didnt know career services even existed at Edinboro University, in Edinboro, Pa., when she was a student there from 1999 to 2003. Although she secured a job on her own, she might have taken advantage of the career-services office if it had been better advertised. They could have pointed me in the direction of firms and studios in my field looking to hire, or even set up meetings, Ms. Munshower says.

Typically first-semester freshmen are very busy acclimating to college life, but for second-semester freshmen it could be a good time to see what career services has
Kewa Luo, a recent graduate of Duquesne University in Pittsburgh, came to the U.S. from Beijing in August 2002 to study communications and multimedia. She found four internships through career services, at nonprofit environmental group the Sierra Club, a television station, a public-relations firm and an advertising agency. I dont think they find the internship for you, but they offer you a source and help you get stuff ready, like your rsum, she says. Mr. Donnelly, the draftsman, also suggests deciding what kind of help you want before venturing to the office. Have a clear idea of what you want to gain from your interaction even if it is a rather broad idea, like finding a new career, he said. I

Up Next for Seniors: Compose a Rsum

By LAURA STEVENS

So youve thought about what you want to do after graduation. Now what? Before you can apply for that dream job, youll need a top-notch rsum. A clear and concise rsum is essential to marketing your skills and enticing prospective employers. Without it, you likely wont land a job. Make it your goal to write a high-quality rsum that positions you as an excellent job prospect.

The basics are no secret, however, and you can write one on your own. Before you get started, its useful to get an idea of what you can offer to employers. The following exercises will help you make a complete inventory of your skills, experiences and accomplishments. Begin by writing down a chronology of your work experience, both paid and unpaid, with dates and job titles, says Lance Choy, director of Stanford Universitys career-development center. Then write a description of each experience. Highlight your accomplishments, not just your everyday duties.

A clear and concise rsum is essential to marketing your skills and enticing prospective employers
Get started now. Avoidance behaviors tend not to work well, says Wayne Wallace, director of the University of Floridas career center in Gainesville. Here are typical questions seniors ask about rsums and answers from professionals who help them:

Compare your list of your key strengths with what employers want in candidates. The strengths that match on the two lists should go on your rsum
Youll want to tailor your info to each job youre applying for. To do this, your document should emphasize the qualifications you possess that match the requirements outlined in the job description. This exercise can help: Prepare two lists. The first should consist of your top 10 strengths. For instance: what would family, friends and former
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How should I start?

Visit your career center. Counselors there will help you to assemble the information needed to draft your document. All of us provide tutorial information, says Wallace. Its a really easy place to start.

employers say about you? The second should include the skills and abilities employers in your chosen field are seeking. Compare your list of your key strengths with what employers want in candidates. The strengths that match on the two lists should go on your rsum, she says. Thats what you want to develop on the rsum. Then its not contrived -- its who you are, says Deborah Hoffman, director of the career center at Messiah College in Grantham, Pa. Evan Baehr, a senior at Princeton University in New Jersey, created his first rsum in high school while applying for colleges. In college, he started keeping a list of his activities.

What should I include?

Having assessed your skills and experience as well as the credentials employers are seeking, now its time to write your rsum. First and foremost, write your name and contact information, such as a permanent address and phone number, your cell-phone number and your e-mail address. You also can include your school address. Below your contact information, write an objective. Stating your career objective can be as simple as saying that youre looking for a job in sales with an opportunity to grow or advance. Then tailor the objective to each job for which you apply. Most students dont understand that they can have multiple career objectives and multiple rsums, Wallace adds. The objective is a very brief snapshot of what it is [job candidates] are looking for, says Tim Somers, national director of college recruiting and development with E. & J. Gallo Winery, a large winemaker based in Modesto, Calif. Next, assemble your work experience. Include the companys name, the positions title and your dates of employment. Then describe your experience under each heading. Try to describe accomplishments, not just daily responsibilities. A short rsum is best for entry-level candidates. If your work experience fills more than a page, eliminate the positions that arent relevant to the job youre seeking. As you review your document, locate your three biggest accomplishments, Choy suggests. If theyre not in the top third of your document, reorganize. Write down your educational accomplishments. Include your grade point average if

Stating your career objective can be as simple as saying that youre looking for a job in sales with an opportunity to grow or advance
From that base, I can then choose the activities that are most relevant to the jobapplication process, the 21-year-old says. Depending on whether its a graduate school or a consulting firm, you can pull activities from your master list that fit the best. His method has worked. Baehr has interned in Washington, D.C., for the past four summers, most recently with the White House Office of Faith-Based and Community Initiatives. The public-policy major also has interviewed with nine companies this fall for public-policy consultant jobs to gain professional experience before applying to law school.

its above 3.0. If you have a higher G.P.A. within a related major, list that as well. Also mention classes or completed projects related to the job. Add activities that show your leadership skills or other important characteristics, as well as any pertinent special interests or skills, such as speaking a second language. Dont include personal information or nonessentials -- activities or experiences that have no relationship to the job. One way to know what to write is to research the targeted employer, Hoffman says. To learn about a companys culture, visit its Web site or speak to its employees. Then look at the job description and choose key words to reflect in your rsum. If the description includes the word leader, for example, find examples of leadership for your rsum.

In addition, more employers are using prescreening software to weed out rsums that lack key words before sending them on to human eyes, Wallace says. Lastly, dont print your rsum on brightly colored paper or use fancy formatting and graphics. This shows a lack of professionalism. Simple is best, Somers says.

Keep your rsum to one page most seniors dont have enough accomplishments to make two pages necessary
Final tips
To ensure your rsum is in good shape, ask an adviser at your career center to review it. Then, have someone proofread the final document. Even with todays use of computers, [candidates] still submit rsums that have spelling and punctuation errors, Somers says. Baehr spent 30 minutes with a counselor at Princetons career center who checked his rsum and cover letters. He also asks a friend to review his rsum before he submits it. He advises other students to do likewise. A lot of times, when youve looked at a document 10 times, you are susceptible to looking over basic mistakes, just because youve been looking at it so long, he says. I

How should I put it together?

Compare your work experience and educational background. Which has more of the qualities that demonstrate youre right for the job? Choose the stronger and place it immediately below your objective. Keep your rsum to one page -- most seniors dont have enough accomplishments to make two pages necessary, says Somers. On average, he spends about two minutes scanning rsums that pass his desk and prefers those which list jobs in reverse-chronological order -- the most recent job first. Tailor each rsum to the job for which youre applying. Its pretty clear that just doing a gross dumping of information doesnt work, Wallace says. Potential employers who receive rsums that arent tailored to their openings will quickly see that applicants havent done any research.

How to Stand Out In a Job-Fair Crowd

By CHERYL SOLTIS

College students face daunting challenges during their academic careers: tough courses, heavy workloads and the pressure to find time for a social schedule. But attending job fairs, a rite of passage for many upper classmen, presents its own set of demands. Bob Roth, author of the book, The 4 Realities of Success During and After College, calls the whole process of recruiting on college campuses a negative process because employers are not trying to figure out how to screen you in. Instead, he says, they are looking for things that will screen you out so they can interview those who still remain on the list.

To showcase your passion for a position, Mr. Mehler says, students should be aggressive and ask questions. It may seem very basic, but you walk up to the recruiter with a smile, shake hands strongly, look the recruiter in the eye, he says. Talk about what youve learned in your research about the company and why you really want to work there. Ask, How do we make this happen? he says. Mr. Roth agrees that preparation is essential, and he says it should start much earlier than many students think. The senior-year job search begins in your freshman year, he says, when students need to start building networks and identifying potential employers. Students should also be aware that the types of companies a job fair will attract can vary from college to college. A school usually has a positive reputation in three or four subject areas, even though they may offer 30, 40 or more majors, Mr. Roth says. Company recruiters gravitate to the colleges with good reputations in their particular area of interest. To get ready for a job fair, begin by finding out what companies will be there. Understand what their mission is and what theyre looking for, says Mr. Mehler. One way to stand out: Through your alumni network, social network, peers, friends, parents, cat, dog, canary, find someone you know that works in that company. That way, he says, when you approach the booth and shake hands, you can drop the name of the friend [along] with your

With limited space on a recruiters roster, students need to find ways to stand out from their peers
With limited space on a recruiters roster, students need to find ways to stand out from their peers. Its all about preparation and passion, says Mark Mehler, a principal at CareerXroads, a recruiting-technology consulting firm in Kendall Park, N.J. Your expression, your handshake, your dress, your rsum can make you a success or failure in seconds.

rsum, which gets you an instant introduction and separates you from the pack. Marie Artim, assistant vice president of recruiting for Enterprise Rent-A-Car, has been to hundreds of college career fairs. You see a big difference in the students who are confident and ready to talk about themselves, she says. Signing up for mock interviews at the career center and joining campus groups that offer public-speaking opportunities can help you prepare to explain your skills.

attended her first job fair last week. She says she found it useful because she wasnt completely certain of the type of internship or job she was looking to find. I was expecting to perhaps collect some brochures and free pencils and then leave, she says. However, I was able to talk personally with a representative at each individual company. Changing federal regulations about what constitutes a job applicant mean that some recruiters wont accept paper rsums at a job fair, instead referring students to a Web site. This doesnt mean the recruiter isnt interested, Ms. Artim of Enterprise says. She advises students ask for a business card or a contact name and follow up with an email or phone call. Just let [your new contact] know youre applying online, she says.

The senior-year job search begins in your freshman year

Mr. Mehler suggests that students have a friend videotape them interviewing. It shows what youre doing right and definitely what youre doing wrong, he says. Take the tape to a career counselor and have them review it with you, he adds. Job fairs may be a convenient way to meet with a variety of employers in one place and within a few hours, but they can be a discouraging experience. Jeff Boyd, who attended a job fair last spring before his graduation in May from Purdue University in Indiana, says he spent most of his time standing in line to hand rsums to recruiters. Mr. Boyd, who majored in aerospace engineering, did get several interviews from the job fair, but not as many as I would have liked, he says. He has had more success searching online and getting in touch with contacts at companies about specific job opportunities. Shannon Thompson, a freshman political science major at the University of Pittsburgh,

You have to have 100 leads a month active to get 10 interviews

Perhaps the best thing students can do in their quests for jobs is to stay positive, keep searching and be ready and willing to do the homework required. You have to have 100 leads a month active to get 10 interviews to get an offer, Mr. Mehler notes. If you get the 10 interviews that means your rsum is working. If you dont, it means your rsum needs work. If you get to the finals in the 10, but dont get the job, the candle has gone out. You havent sold yourself. You dont have the passion. I

You Can Say Too Much Without Even Speaking

By DANA MATTIOLI

Can a shrug mean too much? No matter what a job candidate might say, using the wrong body language can make them appear disinterested or even deceitful to recruiters. Its so important for people to be cognizant of their body language because while their words may be saying one thing, their body language may be saying something else, says Kimberly Bishop, senior partner of Korn Ferry International, a Los Angelesbased retained executive search firm. Learning how your body language may be perceived can prevent you from committing body language blunders that can sabotage interviews. Carole Martin, president of InterviewCoach.com in San Francisco says her clients are stunned by their body language when they watch their recorded mock interviews. After she points out their mistakes, some say I wouldnt hire me, says Ms. Martin. However, once aware of their body language, she says about 80% correct it on their second taping. Here are some tips on getting your body language right in an interview.

dishonesty, says David Moyer, president of Moyer, Sherwood Associates, a retained executive search firm in New York. Ms. Bishop says many candidates look to the right or left of the interviewer or out the windows instead of making eye contact which can indicate disinterest or lack of confidence. To show a recruiter you are interested, alternate looking at their eyes mouth and shoulders, says Martin Yate, author of Knock Em Dead The Ultimate Job Search Guide 2007 and a former headhunter in Savannah, Ga.

To show a recruiter you are interested, alternate looking at their eyes mouth and shoulders
However, be careful not to overdo the eye contact. Some job hunters concentrate on maintaining eye contact too much that they develop a stalker stare, says Tonya Reiman, a body language expert in Smithtown, N.Y. who works with recruiters and job hunters. People who dont break from eye contact enough give me the willies, says Mr. Moyer.

1. Maintain the right amount of eye contact.

Using too little or too much eye contact can impact a recruiters perception of you. If you avoid eye contact after being asked a question, or you look down, it can suggest

2. Dont fidget.
Fidgeting is a telltale sign of nerves, and although many recruiters make allowances

for nervousness, they will also expect you to handle pressure with ease if youre seeking a high-level job. If you display your nerves too much during an interview, you may be at a disadvantage. If you cant handle stress in a job interview, how can you handle it in the job? asks Mr. Yate. Aside from displaying your nervousness, fidgeting is annoying and distracting to recruiters. Ms. Martin, who conducts interviews for client companies, remembers a candidate who played with her hair throughout the entire interview. I wanted to grab her arm and tell her to stop, say Ms. Martin. I probably didnt hear half of what she was saying because she was annoying me so much. Although everyone has their own personal fidgets, the key is to control them during interviews so they dont distract your interviewer. To keep yourself from fidgeting, Mr. Yate recommends bringing a prop, such as a pen and pad, to keep your hands occupied. Curtis Muldrew, 41, says he learned how to stop twisting and untwisting his pen during interviews by only touching his pen when taking notes. Interviews are events where I really have to practice because my movements can be distracting to the interviewer, says Mr. Muldrew, chief information officer of HeartScreen America, a large population and direct-to-consumer heart screening services company in Andover, Mass.

indifferent or too casual message, says Ms. Bishop. When Jim Ettwein, 59, began interviewing with companies after being a self-employed consultant, he reminded himself during interviews to sit up straight and lean slightly forward to show interest. I have a tendency to sit sideways in a chair by using the back of the chair as a prop, says Mr. Ettwein, who began working as a partner at a large consulting firm in West Orange, N.J. in the beginning of January. To appear interested in the position, Mr. Yate suggests sitting with your backside at the very back of the chair which will create a slight lean forward, showing that you are engaged in the conversation. Remember to keep your shoulders back.

4. Avoid closed body language.

Body language such as crossed arms and clenched fists show defensiveness and tension, says Mr. Yate, who adds that they are physically closed positions. Mr. Moyer refers to crossed arms as the universal sign of unfriendliness, because it suggests that the candidate doesnt want to open up. Women tend to cross their arms when they are cold, says Ms. Martin, who suggests bringing a cardigan or dressing warmly if you tend to get cold so you dont inadvertently send the wrong message. Crossing your ankle over your knee with hands locked behind your head in what Mr. Yate calls the rebel without a cause look can make you look like unruly or difficult to work with, he says. Its the way an angry 17-year-old sits, says Mr. Yate. Instead, sit with your ankles crossed or feet flat on the floor and use open hand gestures which suggest friendliness, he says. I

3. Be conscious of posture while standing and sitting.

Slouching, whether you are standing to greet the interviewer or sitting down, suggests a lack of self esteem, says Mr. Yate. During an interview you should appear confident and engaged in the conversation and poor posture can send a message that you are

Tips on Talking Pay For Twentysomethings

By DIANA RANSOM

Two years ago, Rob Kwong was growing anxious. Fresh out of undergraduate school with a business degree, he wasnt having much luck landing a job. He knew what an appropriate salary was for people with his major, and hed posted his rsum on various employment Web sites. But after three interviews and a couple of job offers that didnt come close to meeting his pay expectations, Mr. Kwong started getting nervous and desperate.

a marketing professor at Stetson University in DeLand, Fla. Job seekers should almost never accept [an offer] on the spot.

Be realistic, he cautions: If you inflate your range at the beginning you may lock yourself out of an opportunity

With a little preparation and the right questions at the job interview, even entry-level job seekers might squeeze more dollars out of their new boss
Thats when a telecom company in Fairfax, Va., offered $7,000 a year less than what Mr. Kwong, now 25 years old and working as an analyst, figured he could be making. Still, he took the bait right away. Big mistake, say employment counselors who work with people just starting their careers. As soon as you say yes, youve lost all negotiating power, says Randall Hansen, You dont have to be a job-hunting veteran to wring more money out of a new employer. With a little preparation and the right questions at the job interview, even entry-level job seekers might squeeze more dollars out of their new boss. Here are some tips:

1. Know the going rate.

Most interviewers keep salary information close to their vests. So unless you have a spy on the inside, you arent likely to know exactly whats on the table. But there are salary information Web sites where you can learn what the average pay is in your region. Try salary.com, payscale.com or salaryexpert.com.

2. Settle on a range, not a number.

If average pay for the job youre seeking is $37,000, then set your sights on the $35,000 to $40,000 range. Dont box yourself into a lower salary or launch

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yourself out of an interview because youve asked for too much money, explains Dave Gordon, an Internship Director at Columbia College Chicago. Be realistic, he cautions: If you inflate your range at the beginning you may lock yourself out of an opportunity.

3. Understand what theyre buying.

Typically employers filling entry-level positions dont pay nearly as much attention to an applicants skills as they do their qualities, says Jack Chapman, a career coach in Wilmette, Ill. So concentrate on being enthusiastic, eager and positive. If a potential new boss makes an offer, that means he or she likes you and wants you. It also means the boss may like you enough to negotiate to get you.

Ask, dont demand. No one wants to hear you need more money to take vacations in Cancun, but you might have a case for a higher salary if you have to move to a new city. Ask for a day or so to think it over. That gives both of you some breathing room, and the interviewer a chance to discuss your situation with others and, possibly, juice up the offer.

No one wants to hear you need more money to take vacations in Cancun, but you might have a case for a higher salary if you have to move to a new city
6. Offer options.
Some employers will just refuse to negotiate entry-level salaries. They may be flexible elsewhere, however benefits, vacation time, bonuses. All are worth bringing up, but dont have a whole laundry list. You really need to pick your battles, says Dr. Hansen. If its a job you really want and a good launching point for your career, dont be greedy. I

Concentrate on being enthusiastic, eager and positive. If a potential new boss makes an offer, that means he or she likes you and wants you
4. Dont make the first move.
Dont be first to bring up money. All serious interviews eventually get around to, How much are you looking to make? First you want to ask what the job pays. If that doesnt get an answer, give your preferred salary range.

5. Make your case.

Try not to play hardball at this level, warns Mr. Gordon. But you dont have to be a pushover either. Once youve got a number, remain positive about the position.

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How Not to Flunk the New Job

Rookies Should Ask Questions And Be Willing to Overcommunicate
By ANGELA MORRIS

Succeeding at your first job isnt just about picking the right business suit. Some common advice: Be professional, work hard, and manage your time well. But making the transition from full-time student to full-time employee also requires more subtle adjustments.

assigned, pitching. Ms. Kowalcyk has since been promoted to account executive. New employees should not be afraid to ask questions, says Tim Smith, vice president at OutCast Communications, a public relations firm in San Francisco. Mr. Smith, who works with many of the entry-level employees at OutCast, says the biggest failures have been when folks didnt verbalize that they were in trouble or under water. He knows that from his own experience: I was absurdly late to one of the most important presentations of my career because I was lost, says Mr. Smith, 43. (Now he always rents cars with GPS installed.)

Succeeding at your first job isnt just about picking the right business suit
The first step: Understand that what you learned in college may not be directly related to your responsibilities at work. That hit Laura Kowalcyk, 22 years old, on her second day as an assistant account executive at Cubitt Jacobs & Prosek Communications in New York, when she was asked to pitch a new client to the media. I knew how to explain different economic theories and how to write a press release, explains Ms. Kowalcyk. Still, I was nervous because this was the first time I was doing this outside a safe environment. It was a test graded by my bosses, peers and reporters. A lot of the courses I took were based on specific topics or ideals, not specific skills that can be used on a job, she says. It was my duty to look at the skills I picked up in these classes such as being resourceful and apply that to the new topic I was

Make sure you know what your responsibilities are, and if youre not sure, talk about it
Questions also help you know where you stand. Always overcommunicate, says Grace Chih, 24, an account executive at OutCast. Never assume that someone knows exactly what youre doing. Make sure you know what your responsibilities are, and if youre not sure, talk about it. When you ask, be sure the person has a few minutes to spare, and offer to return at

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a more convenient time so the person can focus on your question. It is important to network, although it may seem difficult at first to develop relationships with co-workers especially if youre working on group projects, says Teresa Leggard, an editor at Hallmark Cards Inc., Kansas City, Mo. If you need a special favor handled, someone who only has a workplace relationship with you may say they cant do it. But if theres a rapport there, they will try harder, says Ms. Leggard. To help you assess your own progress, keep a professional journal of what you accomplish and points where you can improve. When it was time for Ms. Leggards midyear review, her manager couldnt meet individually with staffers at the time and asked them to fill out questionnaires instead. Ms. Leggard, 23, had to include examples of what she had done well and what was a challenge for her. Her weekly journal-keeping saved her time. I submitted it and got back to the work I needed to do, she says. A professional journal can also be useful for writing down ideas you have for a project, she notes. Part-time work can help develop communication skills and a sense of professionalism. Working in retail or customer service can help develop communication skills, for instance. If youre helping a customer select a pair of glasses, you learn to ask the right questions to determine what works best for the client, and how to communicate a products features clearly. Both skills could be useful in presenting a marketing idea. Paul Acomb, 34, vice president of Global Foreign Exchange Finance at Merrill Lynch & Co. in New York, notes that managers hiring at entry level dont expect prospective first-time employees to know everything. You can understand they may have limited

technical experience, so you are looking for how they communicate, how they carry themselves, if they are a self-starter, and have strength of character. Some employers help ease the transition to full-time employment with training programs. In Merrill Lynchs Chief Financial Officer Analyst program, employees spend six months in one department and six months in another. No two hires have the same rotation, says William Allison, who began the program in August 2005 with a stint in global foreign-exchange finance in New York and then moved to the global treasury group. I was looking for ... the opportunity to do two completely different things and then choose between them, says Mr. Allison, who is now an analyst in global foreign exchange finance. Its allowed me to gauge what I want to do in the future.

It is important to network, although it may seem difficult at first to develop relationships with co-workers
When making the adjustment from student to employee, you should also remember the first job is just that, a first job. Learn from your errors, and try to use the experience to your advantage. You look back and you cringe, but the key is to look at those mistakes and learn from them. If someone makes a mistake, no matter how big or small, we sit and talk about why, says Mr. Acomb. I

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To Uncover Hidden Job Leads, Take Advantage of the Grapevine

By JANET I. FARLEY

When Marty Emory, project director for Resource Consultants Inc., an outplacement firm in Vienna, Va., recently attended a colleagues farewell luncheon, bidding the guest of honor adieu was just one of her accomplishments. At the event, she ran into an old acquaintance. They enjoyed a bit of small talk, in which she discovered that he was now corporate training director for a large organization. Sensing a possible opportunity for another friend of hers, she asked if he was planning to expand his staff. At the moment, the answer was no.

neglect to take advantage of such everyday possibilities. Excellent hidden opportunities occur all the time within organizations including your own but few candidates understand how to uncover them. The best way to find out about attractive openings at your own or a nearby employer is by using the grapevine. The grapevine is the unofficial communication system within an organization, says Dr. Constance J. Pritchard, president of The Pritchard Group, a North Augusta, S.C., human-resources and organizational-development consulting firm. Known in many circles as the old-boy network (or in one rebellious instance as the womens knitting and terrorist society), the grapevine serves as a unique conduit for insider information among a select group of people with common interests.

The grapevine serves as a unique conduit for insider information

But as is often the case in todays changing job market, the next day was a different story. It turned out that the training director was promoted and needed to backfill his own position immediately. Remembering his conversation with Ms. Emory, he called and asked that she send her friends rsum right away. The end result of this informal networking through the grapevine? The friend was hired within a week, thanks to her savvy networking and some good luck and timing. Unfortunately, ambitious employees who seek career changes or promotions often

To effectively use the grapevine in your search for greener corporate pastures, you must be a part of it
To effectively use the grapevine in your search for greener corporate pastures, you must be a part of it. Of course, being privy to company knowledge is helpful even if you arent making a move. If youre not tapped

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into the informal communication structure within your organization, you might end up getting blindsided, warns Dr. Pritchard. To open your eyes to career-change or promotional opportunities in your current environment, use your existing grapevine by doing the following: Generate interest in your qualifications. Review and revise your rsum as necessary. Arrange for informal meetings with colleagues. Plan your job-search efforts as carefully as you would if you were unemployed. Establish your role within the grapevine. Visualize yourself in a different job at your employer. Improve your communication skills. Note and analyze the information flow throughout your company. Evaluate and revise your plan as necessary.

internally, you may need to submit a rsum. Once youve updated and improved your rsum, you can use it as a marketing tool within your company. For example, if you aspire to work in a new department, ask the manager there to look over your latest version. As you solicit feedback on your rsum, you can discreetly reveal your interest in transferring to that department.

3. Arrange informal meetings.

After youve identified your strengths and achievements and accurately described them on your rsum, think about who could help you achieve your job goals. Then schedule regular but casual get-togethers with these colleagues. Get a small group together or a couple of select individuals and meet for lunch on a monthly basis, suggests Dr. Pritchard. Other helpful techniques include: Make a point of sitting near different people at each meeting or company function you attend. Solicit opinions on projects youre working on from co-workers who could be helpful to you in the long run. Offer to assist colleagues with different projects, work-related or not, as your schedule permits. And, of course, dont forget to attend those farewell luncheons!

1. Generate interest.
If you want to move up or elsewhere, you need colleagues, higher-ups and others in your network to become excited about your abilities. To do so, you must be able to clearly define your professional strengths, achievements and potential. This doesnt mean wearing a Will work for a promotion or new job sandwich board around the office. It requires subtly letting others know that youre willing and capable of doing other things.

The best way to find out about attractive openings at your own or a nearby employer is by using the grapevine
4. Plan.
Many believe that its easier to find a new job if youre already employed. That may
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2. Review and revise your rsum.

When contemplating a career move, you must be ready to apply for new jobs. Keep in mind that even if you seek a position

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be true, but you still need to plan your job search as carefully as if you were unemployed. In fact, you should be even more cognizant of your actions now. After all, when you seek a new position with your employer, every workday is like a job interview.

say something inappropriate when discussing sensitive issues.

8. Note and analyze the information flow through your grapevine.

Once youve established a solid role in the grapevine, take note of how the members interact with one another. Whos usually the first person to get wind of interdepartmental scoops? How and when does that person get the information? How is news disseminated throughout the grapevine? Information is power. Whoever gets key data first generally has more influence than employees who receive it later.

5. Establish your position in the grapevine.

Are you a part of your companys informal structure? If not, you need to establish a role within it. Of course, to be part of the grapevine, you must have developed solid relationships around the office. Realize that Rome wasnt built in a day and you probably wont become a member of this select group overnight. And when you eventually use your grapevine to find a new job, dont expect to see overnight results then, either. This isnt a quick-fix job-search strategy. Rather, its a calculated, long-term tactic that serves two purposes: It strengthens ties with your existing network of contacts. It facilitates your employment goals (sometimes when you least expect it).

9. Evaluate and revise your plan when necessary.

Periodically evaluate your participation in the office grapevine. Are you really privy to insider information? Are you effectively using that information to further your career goals? If not, revise your job-search plan so that you can achieve your objectives. Of course, you shouldnt rely solely on the internal grapevine to get a new job in your company. Use the office grapevine in conjunction with the traditional forms of job search, says Dr. Pritchard. The time-honored tradition of taking advantage of your bosss network also may work. For example, during his annual performance appraisal, a mid-level executive told his manager he was interested in being promoted to a position with increased responsibility. The boss told the executive about an opening that wasnt advertised yet, but which hed learned of via contacts hed nurtured through his own grapevine. By using the grapevine along with more traditional search techniques, you too can go job hunting in your own backyard. I

6. Visualize yourself in a different job.

Do more than just think positively. Picture yourself in the position you want. What would likely be your biggest challenges in this new role? How would you handle them? By thinking as if you were already in the job you want, youre more apt to convince others that youre right for it.

7. Improve your communication skills.

Good communicators listen carefully and speak effectively. Listen as much as possible, advises Dr. Pritchard. The more you pay attention to what others in your grapevine say and the more you think before you talk, the less likely you are to

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Are Twentysomethings Ready for Commitment to Owning Real Estate?

By EMILY MEEHAN

Wish you were more grounded? Heres a solution: Buy a house. For people in their 20s, owning real estate is a way to take on more responsibility, get a sense of stability in at least one area of life and maybe even build up some equity, too. But it involves a heavy commitment to a mortgage, to a place, to holding a steady job all of which can limit lifestyle and career choices. What about that six-month trip around the world, going back to school or joining the Peace Corps? Once a deed is signed, it may not be that easy to skip town on a months notice. Jamie Schab, a 26-year-old interior design assistant, bought a townhouse in Sunnyvale, Calif., with her fianc last May. Together they saved $120,000 for a down payment on the new $592,000 property. Its made me more responsible, she says, and I feel equal to my co-workers now because Im not just renting and doing whatever I have to go home, clean, cook, and make sure the house doesnt fall apart. Ms. Schab feels comfortable with the commitment and has been budgeting for emergency repairs, property taxes and homeowners insurance. She doesnt plan on changing jobs but says if she does switch to a less lucrative career, her fiancs income from his job as an office engineer for a contracting company would make up the difference. She thinks it helps that the property is new so bursting pipes and leaky roofs arent likely for quite a while. People in their 20s are more inclined to buy real estate now than they were 20 years ago, according to annual statistics from the

U.S. Census bureau. In 2005, almost 26% of household heads under 25 years old owned their home, up from 17% in 1985. Homeownership rates for 25 to 29 year olds also increased over the past two decades, though not as sharply. But dont we have a propensity to change jobs and cities in our twenties? How about college and graduate school? Military deployments? In this phase, it may be hard to count on an income beyond the most immediate job, which could change. Is it worth taking the risk of committing to a mortgage payment budgeted around unpredictable conditions? I wouldnt have done it any other way, says Jaya Manske, 23. Ms. Manske, a school teacher, bought her first home in Albuquerque, N.M., her first year out of college for $130,000. She was recently laid off and took a lower-paying job at a private school. I couldnt move out of state even though the prospects in any other state would have been much better because I owned a home here, she says. Ms. Manske talked with her boyfriend, whom she lives with, about the possibility of moving out of state and renting the property. It seemed daunting and expensive, she says. Her parents had loaned her the $5,000 down payment for the house, and she was making just enough to cover the mortgage and expenses at her former job. Now shes getting a little help from her boyfriend. If the roof leaks, she says she might have to put the repair cost on her credit card.
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The house is in her name and she says shed prefer to be self-sufficient. Certain things need to get pared down a bit going out to eat, going on vacation or camping for the weekend. There isnt really room for anything like that right now, she says. Its much more dedicated to bills and only bills. But in her view the economic benefits of building equity trump these concerns. Each time I pay my own mortgage, I feel like Im paying myself back for later on rather than paying into someone elses a landlords business, she says. For others, financial equity and flexibility are mutually exclusive.

which generates enough income to cover monthly payments on the mortgage. But becoming a landlord is a big responsibility and its not always easy to secure tenants. If moving is a likely possibility, the cost of hiring a property-management company should be factored in before making a purchase. And if renting out a house is out of the question, young people should consider how long theyd be willing to wait before getting a good offer to sell. Phyllis Attebury, a real estate broker who lives in Carmel Valley, Calif., and works with clients on the San Francisco peninsula, says the market is slowing down a little and that buyers should be prepared to keep a house for at least five years to weather market downturns. In the long haul, real estate has been a saving grace for many. But for a single person whos here, there, and everywhere they should probably just think about renting for a couple of years, she says. Michael Esquivel, 23, a budget analyst who lives in New City, N.Y., is considering buying a house with two of his oldest friends. But were young, and any of us could change jobs easily or move out and the other two would be stuck paying the mortgage, which would be horrible, he says. On his own, Mr. Esquivel says he could only afford a shack and would prefer to live at his parents house and save money to buy a nice house later on. Im a renter myself, and I often wonder if owning a home that I could paint orange and cerulean and landscape with agave cacti and olive trees would instill such a serene sense of propriety that Id be willing to give up being footloose and cosmopolitan. Or maybe Id be better off renting indefinitely, and spending any extra money on dinners out and trips to Oaxaca and Paris. Its a tough call between empire and freedom. I

For people in their 20s, owning real estate is a way to take on more responsibility, and maybe even build up some equity, too
Josh Brehm, 29, just bought a duplex in Wausau, Wisc., for $73,000 with his girlfriend. When I was 23 or 24, I would have loved to buy a place, he says, but my whole bag was What if Im not here next year? What if I have to move do this, do that? Ive traveled quite a bit over the years thats one of the reasons I put this off for so long. Mr. Brehm saved money through his twenties working in a management position and now works as a part-time supervisor at UPS and attends college. He says the income capacity of his duplex gives him and his partner the flexibility to move and rent out the whole building, perhaps leaving friends or family members to look after it. For now, they live downstairs and rent out the upstairs unit, 18

Retirement Planning For 20-Somethings: Dont Fall Into the Playing It Safe Trap
By JEFF D. OPDYKE

If youre in your 20s, you could be missing out on what may be your best chance to kick-start your nest egg. With so many 20-somethings burdened by college debt, buying houses, starting families and generous spending habits, its something of a marvel that they are contributing to their 401(k) accounts at all but, by and large, they are. The problem is, many of them dont put much thought into where theyre investing their money. Youre not going to build much of a nest egg with your money stuffed into low-yielding bond and money-market mutual funds, which is where too much of it sits. A recent Fidelity Investments study of nine million 401(k) participants found that 16% of workers in their 20s have no money in stocks. Separately, many have all of their money in just one investment, and of those nearly 40% have all their assets in conservative investments, such as stable-value funds, which are little more than glorified money-market funds, or fixed-income funds. The youngest generation of workers has the most to gain and the most to lose when it comes to retirement savings. They have the longest period of time to benefit from compounded returns. Yet theyre also the group most likely to suffer if Social Security is ever

scaled back. And the chances of living off of a meaningful corporate pension 40 years from now are dim, to say the least. Thats why its urgent to take control of your 401(k) account and allocate your money to engineer the kinds of returns youre going to need to fund your retirement.

The youngest generation of workers has the most to gain and the most to lose when it comes to retirement savings
One easy way to build a properly diversified portfolio: Invest in a target, or life-cycle, fund. Four out of five 401(k) plans now offer these one-stop-shopping options. All you do is pick a date in the future, near to when youre likely to retire say, 2050 for a current 25-year-old and have your 401(k) contributions flow into the fund built for that time period. Because these funds are dynamic, changing their asset composition as you age, you wont have to make any other asset-allocation decisions. They invest aggressively in
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stocks in the early years when youre young and can accept the risk of volatile stock prices, then grow increasingly conservative, moving into bonds and cash as the decades pass and your retirement age approaches. For instance, Vanguards Target Retirement 2050 Fund is invested nearly 90% in stocks and its Retirement 2005 Fund, for workers retiring before 2008, is less than 50% stocks. If your 401(k) doesnt offer a targeted fund, or if you just want to do the work yourself, allocating money isnt quantum physics. One common industry benchmark is to subtract your age from 100, with that amount going into stocks. Its simplistic, but it gets you closer to where you need to be. So, for instance, if youre 25, youd want about 75% of your 401(k) contributions going into stock funds. Risk tolerance will play a role, but dont be too focused on it, says Fidelity Senior Vice President Jamie Cornell. Remember: Over long stretches, the stock market rises despite short-term periods of upheaval. And since you wont touch your 401(k) money for 50 or even 60 years, you can tolerate the inevitable volatility. You might lower your stock exposure to, say, 70% if youre conservative, or raise to 90% or more if the volatility wont faze you. Most companies providing 401(k) plans offer free online planning advice to help clients with asset allocation. T. Rowe Price clients, for instance, can access Morningstar Retirement Manager, which allocates assets based on the funds within a particular plan. Principal Financial Group offers its 2.4 million 401(k) plan participants a nine-question online quiz that ultimately leads them to a pie chart showing them broadly how to allocate their contributions. And Fidelity recently launched its myPlan Retirement Quick

Check, which generates individualized asset-allocation plans. As for investment selection: The bulk of your money should go into large-cap stocks, something simple like a Standard & Poors 500-stock index fund found in almost every 401(k) plan. To diversify, Melody Townsend, a financial planner in Mount Sterling, Kan., counsels young workers to put 10% each into a small- and midsize company fund. The fixed-income portion should go into a stable-value fund, if available, or an intermediate-term bond index fund. To help determine the funds to pick, go to a free Web site such as www.morningstar.com for research. Focus on performance records over three to five years or longer. Shorter-term results are generally meaningless.

Focus on performance records over three to five years or longer

The youngest workers tend to have the fewest options when it comes to finding pros willing to work with them. Most money pros make their living by charging a fee tied to a percentage of assets they manage. What you need is a planner who, like Ms. Townsend, charges hourly fees on an asneeded basis and does not collect a commission for hawking products. For clients of Charles Schwab, Fidelity and other firms that oversee corporate 401(k) plans, the firms typically will work with you on the phone or in person to help steer you toward an appropriate mix of mutual funds available in your specific 401(k) plan. That service is usually free. I

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