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Archive for the ‘Salary & Finances’ Category

February 10th, 2011 by Juliana Weiss-Roessler   Posted in Salary & Finances

One impact of the recession that gets less attention is its effect on the wages and benefits of the people who are working. In 2010, wages and benefits increased 2%, a slight improvement over the 1.4% increase that we saw in 2009, but still, the last two years were the smallest gains on record for the last 28 years.

Wages & benefitsThe good news is that lower wage gains means lower inflation, but it does not help to boost consumer spending which is needed to further help the economy. Also, it means lower job offers for those struggling to find a new job. High unemployment makes it easier for employers to get workers to accept cuts to wages and benefits, and also to hire new employees at a lower salary than they had been paid in previous jobs.

What does that mean for you as a jobseeker or someone seeking a raise?

Prepare to negotiate. Expect to be lowballed, but don’t be afraid to ask for more (within reason, of course.) If you’ve received the job offer, it’s because you’ve beaten out dozens, possibly hundreds, of other job applicants and have the exact qualifications they are looking for. You are valuable to them, and you deserve to be appropriately compensated for your contribution to the company.
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February 4th, 2011 by Linda White   Posted in Career Advice, Salary & Finances

OptionsPresident Obama’s recent State of the Union address discussed many things, and much of what he mentioned is outside the scope of this blog. But there are some things he talked about that you had better be aware of. There are developments that will affect your career, your retirement and opportunities for the future.

In the beginning of his speech, he spelled out what for many of us is old news: the workworld is changing. No longer can you just walk in, fill out an application and have a lifetime job with good benefits. But it’s good that he spelled this out, because many people still aren’t getting this message. We need to look ahead. Much of what he talked about involved the ‘future.’ In fact, it was a key buzzword in the speech. How can you take advantage of these new initiatives? How can you be prepared to operate – and succeed – in the new economy and the new world of work?

Surprisingly, many of the areas that he talked about are areas you should be looking at. Healthcare, clean energy and education are all areas that hold opportunities. The idea is that you have to be bold. Solve problems. Look around and see solutions. Don’t expect someone to just hand you a paycheck for showing up. Be the innovator.
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September 7th, 2010 by Sergey Novoselov   Posted in Salary & Finances, Unemployment

Highest-Paid CEOsCEOs of the 50 U.S. firms that cut the most jobs during the recession earned 42% more than the average S&P 500 firm CEO, according to a study released by a liberal think tank in Washington.

The study also found that 36 of the 50 layoff leaders announced their layoffs at a time of positive earnings reports, suggesting a trend of squeezing workers to boost profits and to maintain high CEO pay. When CEOs cut jobs they are often very richly rewarded.

No Wall Street banks were included in this list, but three banks (Bank Of America, Citigroup and JP Morgan) were on the list of the 50 firms that laid off the most employees.
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August 24th, 2010 by Sergey Novoselov   Posted in Career Advice, Job News, Job Search, Salary & Finances

GraduationThis year is tough for college graduates looking to enter the job market. Even more than last year: a study shows a 1.7 percent decline in the salaries offered for entry-level positions when compared with the same time last year. 2010 colledge grads can expect an average offer of $47,673, compared with $48,515 in 2009.

However there are still careers where the median starting salary is above the average. Let’s review the top ten jobs that offer the highest starting pay:

1. Engineering (median starting salary $53,400)

Engineers use math and science to develop solutions to technical problems. There are many specialties, including industrial engineers, aerospace, and biomedical. A steady growth is expected in this field.
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August 16th, 2010 by Tatiana Varenik   Posted in Salary & Finances, Unemployment

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