Search Clues
Even in this lousy labor market, there are some valuable tips for job seekers, whether undergraduates or middle managers
For those who don't need an immediate job, a tough employment market is the best time to get that graduate or law degree or M.B.A. "It will improve your earning power throughout your career," says economist Paul Harrington at Northeastern University,
Midcareer. The old adage about the best time to look for a job is when you have a decent one holds true even during a recession, and workers in their 30s and 40s should not become too comfy. "In a recession, people tend to cling to a job," says Rutgers's Van Horn. "But they shouldn't. They should be assessing the business situation where they are, and if it isn't good, look for a company that has a good five-to-10-year outlook." That's where research comes in, courtesy of the Internet. There is plenty of information (often from the employers) on salaries in various job categories, working conditions, and a company's financial health. And make sure you're exiting your job for the right reasons, experts say. Don't look only at salary but also at future earning potential, benefits (especially pensions and profit sharing), and work-family issues.
Getting the skills for a new career is key, but midcareer folks typically won't earn back the cost of a multiyear degree. Instead, consider certification programs that may take only a few months. Some states, like New Jersey with its N.J. Training Sources (www.njtraining sources.org), have set up databases of courses and other licensed training programs. And job programs exist across the country. In Norwood, Mass., a state and federal collaborative program has created a job training center offering courses in such skills as resume preparation and PowerPoint, as well as a career center with online job-search services and counselors, all previously laid off themselves. Ginny Messmore, a former real-estate appraiser and now a photographer in Norwood, says, "This place is a godsend. It's good to have the support of a group of job seekers who understand."
Older workers. After 50--and especially after 55--it's tough to get hired, because workers are at their most expensive and also because of well-entrenched discrimination. "The employer is always going to want the 40-year-old who is happy with the salary he's getting, instead of the 59-year-old who may be disgruntled, even if he says he is willing to take a 30 percent pay cut," says Rutgers's Van Horn. That's why it's best to downscale expectations. If you are laid off after 50, think hard about what you really need in terms of pay--perhaps you've paid off the mortgage, for instance --and try to promote yourself as offering "bang for the buck" in terms of expertise.
No matter what you do, sometimes it doesn't work out. One 59-year-old Boston area job seeker spent more than 25 successful years at photo giant Polaroid. He took an early-retirement package in 1998 that seemed generous. But when Polaroid filed for bankruptcy, it walked away from its agreement to provide healthcare to early retirees. The senior marketing manager returned to work, and in the past several years he has had at least three management jobs, most of them ending because hard times hit the company. Now the manager, known as a "master networker" at the Norwood career center, is having trouble finding a job to match his skills and says he faces age discrimination at interviews. Still, he says, "You have to keep on moving. You must be resilient."
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