29 Oct 09 Joe Wonders, Should He Quit His Job Part – 1

The economy is improving and many people are now contemplating switch. Joe is one of them. He has been in tremendous pressure during recession, and he believes he was over worked and under paid. Hence, he want to change as soon as he can, but he is worried, what if he end up making a wrong decision? What if he ends up being in a less paying job? Will he be better off after the switch?

Through this and next couple of blog posts, we will help Joe make his decision. In this post, we will look at his present job and analyze, if he should quit or not.

Present Job Analysis

Before Joe makes a plan to move and start posting résumé in every nook and corner, he should see in what shape his job is and how he is performing there.

How flexible is his job schedule? Does he make to do long hours at job? What if the new job asks for more time which his family cannot approve of?
Is there any pending benefit plan that might get jeopardize, if he quits now?
Does he get any medical or accidental benefit? Will he be in position to pay, if the new company does not cover these? Better still, Joe should see if the new job has the benefits he is availing here?
Is the new job as satisfying or more satisfying then the current one? what if the new job suck life out of him?
Will he miss an opportunity to learn, if he quit this job? What will be the dollar value of training he will be missing due to the job switch?
Is he doing a good job in his present job? Will his boss vouch for it? Joe should ask his boss, if he can write a recommendation for him for the new job. Boss will not hesitate, if he has been doing a good work.
Is he quitting out of strength or is he quitting out of weakness?
Is his boss satisfied with his performance and can Joe’s boss give him a referral.
Will he be able to give 3 references from his current job?
Is the reason for quitting convincing enough?

These are the question Joe should answer about his job before he can make his mind. In the next post, we will see what financial considerations Joe should have before bidding farewell to his current job.

Tags: Benefit Plan, Dollar Value, Economy, Good Job, Job Analysis, Job Benefits, Job Boss, Job Schedule, New Job, Nook, Opportunity, Reason, Recession, Referral, Shape, Suck, Vouch, Wrong Decision

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11 Aug 09 7 Personal Finance Tips for Switching Job

There is a common belief that, if you stick in a company for long, you are crippling your chances of getting a rewarding career. You may get the promotion, but the raise that accompanies the promotion is never decent; hence, one should switch the job as soon as a better opportunity peeps round the corner. In this article, I am not contesting this assumption; all I am doing is telling you what all to consider when you think about changing your job.

Do not get tempted by the shine of a dollar

Higher salary is worth the chase but, not at the cost of quality of work. Do not run after higher salary alone; consider factors like quality of work, work environment, future prospect, career growth, and available opportunity to learn before hopping from one job to another.

A perfect shot requires a perfect timing

If you are expecting a raise in salary after the annual appraisal in March, then wait till you get the hike. This is wise because, the salary you will get after the hike will become a new bottom-line from which you can negotiate even higher salary in the new job.

Do not settle for suitable-for-all CTC (cost to company)

CTC is a misleading term, so, do not forget to ask about the salary breakup, and when you find yourself stuck in the situation where two companies are offering same CTC, go for the one which gives more cash in hand. Always remember, you can negotiate the salary breakup of CTC; why not exercise the option?

Respect the notice period

Notice period is not just one of those laws that mean nothing. Do not take notice period lightly. Companies do sue their employees and seek compensation, which usually is higher than what an employee is paid in a month, if someone leaves the job without serving notice.

Tax Issues

I know, tax is a dreaded word, but one still needs to think about it. Get all your tax deduction papers and other related documents from your previous employer before switching your job.

Insurance coverage

If you were given medical, travel, or any other insurance by your previous employer, make sure, you get it from the new company as well. This will save you a good some of money, which otherwise will go to pay yearly premium.

Employee stoke ownership plan

You should ask your company, if you can encash the stock that you were given as a reward for your continuous hard work or long stay. You should also negotiate stock options in the new company.

Tags: Assumption, Belief That, Bottom Line, Career Growth, Chase, Cost Of Quality, Finance Job, Future Prospect, Insurance Coverage, Misleading Term, New Job, Notice Period, Perfect Shot, Perfect Timing, Personal Finance Tips, Rewarding Career, Salary, Serving Notice, Tax Deduction, Work Environment

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19 Jun 09 5 Steps To Finding A Job

Finding a job can be tough at any time, but during a recession the task can be much, much more difficult. But then, there are so many tactics or factors you could be using to your advantage that you might not even know about, as many people don’t necessarily consider all of the options that they truly have. To help you in your bid to find that new job, easing your stress and getting those earning flowing once more, I’ve got five quick tips to reorganizing yourself and restarting that road to job seeking.

Make a list of goals that you want to accomplish.
Seek job training/career counseling necessary to accomplish those goals.
Formulate a plan of attack for the job market
Figure the hours you would be most comfortable working
Broaden your search to increase the likelihood of finding a job.

Start out by making a list of the goals you want to accomplish through your professional life. Whether they be driven by income, or recognition. This way you can rediscover what you want out of your career, and focus your energy so that you may strive towards that focus.

More training, whether to sharpen your skill set, or reintroduce yourself to the interviewing/resume writing process is always good. Don’t be afraid to ask for help, as your pride in something meaningless like not wanting to ask for help over job hunting, will only hurt you.

Formulate your plan for getting yourself recognized, which companies you want to apply for, and which fields you are most interested. After you’ve gone past the education needed from step no. 2, you’re ready to really make that plan, think about all of the facets, and stick to your new goals.

Figure out the hours you’re most comfortable working, and how flexible you would be if asked to work outside that comfort zone. This way you know which jobs are right for you, and which would be a strain on your life and activities outside of work.

And finally, don’t be afraid to take a position that isn’t quite what you wanted, as long as there is enough opportunity within the company for promotion. Sometimes you have to climb the ladder, and be prepared for that going into applying for a new job. Don’t be afraid to lower your expectations on the sort of job you want, so that you can earn more experience to get the job or position you really want.

Tags: 5 Steps, accomplisments, Career Counseling, Comfort Zone, employ, Facets, find, Finding A Job, goals, interview, Interviewing, Job, Job Counseling, Job Goals, Job Hunting, Job Search, Job Stress, Job Training, Likelihood, New Goals, New Job, Plan Of Attack, Pride, Professional Life, Recession, resume, Resume Writing, skill set, training, Work, Writing Process

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29 Oct 09 Joe Wonders, Should He Quit His Job Part – 1

Present Job Analysis

11 Aug 09 7 Personal Finance Tips for Switching Job

Do not get tempted by the shine of a dollar

A perfect shot requires a perfect timing

Do not settle for suitable-for-all CTC (cost to company)

Respect the notice period

Tax Issues

Insurance coverage

Employee stoke ownership plan

19 Jun 09 5 Steps To Finding A Job

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