Career Trends – Young Money http://finance.youngmoney.com Money: Earn it, Invest it, Spend it Wed, 14 Jun 2017 19:16:12 +0000 en-US hourly 1 https://wordpress.org/?v=4.7.5 Technology Degrees Top List of Best Job Potential http://finance.youngmoney.com/careers/technology-degrees-top-list-of-best-job-potential/ http://finance.youngmoney.com/careers/technology-degrees-top-list-of-best-job-potential/#comments Thu, 15 Sep 2011 13:00:00 +0000 http://finance.youngmoney.com/careers/technology-degrees-top-list-of-best-job-potential/ Technology offers some of the best career opportunities.Educational resource The Best Degrees recently released an analysis of Bureau of Labor Statistics data that attempts to highlight the best degrees in terms of job potential.

The analysis brought together data on job opportunities from the BLS Occupational Outlook Handbook, wage information and stated degree requirements, seeking to account for both the potential to earn higher incomes and more basically the ability to find a position at all.

Unsurprisingly, the half of the top ten and four of the top five degrees represented a graduate education, with one – Ph.D. in Computer Science at number 2 – calling for many years beyond the standard four-year college education. Top overall was an M.B.A. in Technology Management, reflecting the growing need for business education in the technology market and vice versa.

Technology degrees, from computer science to databases to software engineering, accounted for seven of the top 10. The other three degrees came from education administration, geoscience and nursing.

Computerworld reports that many technology firms are in a hiring frenzy, even as numbers for the industry declined due to the strike at Verizon.

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New Haven, Cleveland and Boston Top Best Locations For Recent Grads http://finance.youngmoney.com/careers/new-haven-cleveland-and-boston-top-best-locations-for-recent-grads/ Wed, 14 Sep 2011 13:00:00 +0000 http://finance.youngmoney.com/careers/new-haven-cleveland-and-boston-top-best-locations-for-recent-grads/ Boston was one of the top spots for recent grads looking to start a career.A recent survey from the college job search website CareerRookie.com and Apartments.com offers a list of the best locations across the U.S. for recent graduates looking to begin their career on the right foot.

CareerRookie.com factored together data on the number of jobs available for people with less than one year of experience, the average rent for a one-bedroom apartment and the proportion of young people in a city. The surprising top of the list was Hartford-New Haven, with an average rent of $1,047 per month. Boston and Washington, D.C., ranked third and seventh, respectively, despite average rents of more than $1,600. Cleveland proved the least expensive locale at $695 per month.

“There are almost three-times as many renters moving for new job opportunities this year than in 2010,” Tammy Kotula, public relations and promotions manager at Apartments.com, said in a statement. “This tells us that the economy is improving, but people are relocating as a result.”

The survey also incorporates information from the latest business survey from CareerBuilder.com, CareerRookie.com’s parent site, which suggests that the employment picture is slowly improving for college graduates. The proportion of businesses looking to hire recent graduates grew 2 percent from last year to 46 percent.

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Positions Available For Those Willing to Adapt http://finance.youngmoney.com/careers/positions-available-for-those-willing-to-adapt/ Tue, 13 Sep 2011 15:00:00 +0000 http://finance.youngmoney.com/careers/positions-available-for-those-willing-to-adapt/ Industries like healthcare continue to grow even as others struggle.Unemployment in the U.S. continues to hover above 9 percent and many around the country face difficulty finding new work. A recent survey from CareerBuilder, however, found that those with experience and education have a variety of opportunities in some of the country’s largest companies.

The survey included more than 800 workers laid off in the past year. Of this group, roughly 60 percent had moved on to new employment with a surprising 54 percent of group switching career tracks entirely.

“Right now, we have a multi-speed labor market where certain areas like healthcare, IT and engineering are recovering faster than others,” Matter Ferguson, chief executive of CareerBuilder, said in a statement. “We’re seeing significant growth in skilled positions, but not enough talent to fill those positions. This goes back to the importance of ‘re-skilling’ workers for opportunities where we’re not only seeing demand today, but expect to grow in the future.”

The career site highlighted some major companies with substantial openings, such as PNC bank with more than 1,000 positions and AON insurance with nearly 1,400 positions.

Caterpillar notes that it has had difficulty filling positions across almost every skilled job category, from engineers to welders, according to Reuters.

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Manufacturing Offers Opportunities as Older Workers Retire http://finance.youngmoney.com/careers/manufacturing-offers-opportunities-as-older-workers-retire/ Tue, 13 Sep 2011 10:00:00 +0000 http://finance.youngmoney.com/careers/manufacturing-offers-opportunities-as-older-workers-retire/ Factories are set to suffer substantially from workers retiring.A new survey from Advanced Technology Services suggests that American manufacturers face a dire need for skilled workers and expect to absorb major costs as baby boomers retire.

Lists of the most appealing careers in the U.S. often emphasize traditionally prestigious fields like law or up-and-coming sectors like technology, but many forget that the country remains one of the top manufacturing centers in the world. All of the companies included in the ATS survey boasted annual revenue of at least $10 million with 26 percent making more than $1 billion.

Of these companies, half said they had at least 11 openings for skilled workers with nearly one-third requiring more than 20 workers. Nearly half of all respondents – 45 percent – have had to encourage older workers to continue working past retirement age.

As skilled labor becomes difficult to find and these workers ultimately leave, the businesses with more than $1 billion in revenue expressed expectations of losing more than $100 million each.

“This is an essential time to be in manufacturing considering other sectors are seeing hiring slow down,” Jeff Owens, president of Advanced Technology Services, said in a statement. “Many young people overlook the opportunity and high wages that careers in manufacturing afford.”

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NYC Aims to Take the Tech Sector http://finance.youngmoney.com/careers/nyc-aims-to-take-the-tech-sector/ Wed, 20 Jul 2011 16:23:03 +0000 http://finance.youngmoney.com/careers/nyc-aims-to-take-the-tech-sector/ New York hopes to develop a major technology institution.New York City may be the Big Apple, but it still lags behind Silicon Valley in terms of the booming technology industry. In an attempt to change that, The New York Times reports that Mayor Michael Bloomberg announced plans to subsidize a major new science and engineering university in the city.

The plan looks to offer effectively free real estate in any of four different locations: the south of Roosevelt Island, Brooklyn Navy Yard, Governors Island and the Farm Colony on Staten Island. In addition, the city would contribute up to $100 million for development.

“During the 1980s and 1990s, Silicon Valley – not New York City – became the world’s capital of technology startups, and that is still true today,” Bloomberg said in a speech. “But if I am right, and if we succeed in this mission, it won’t be true forever.”

Already the city has received 18 submissions from 27 institutions, including Cornell and Stanford Universities.

Bloomberg noted that New York City already passed Boston in terms of technology investment last year, according to The Boston Globe. Still, companies spun-off from the Massachusetts Institute of Technology have produced more than $2 trillion, he says, making the potential returns dramatic.

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MBA Students Interested in Technology Firms http://finance.youngmoney.com/careers/mba-students-interested-in-technology-firms/ Mon, 18 Jul 2011 16:06:49 +0000 http://finance.youngmoney.com/careers/mba-students-interested-in-technology-firms/ Apple is the third most popular destination for MBA students, though not the top tier.A new survey found a growing number of business school graduates see technology companies as the most appealing places to work, according to The Wall Street Journal.

Consulting firm Universum surveyed more than 6,000 students from dozens of business-schools around the country regarding their top five ideal employers. The Journal had the company narrow the survey to some of the top-ranked schools in the country and found that technology companies comprised four of the top 10 most preferred employers for this elite group.

Leading the pack was consulting firm McKinsey & Co. with 29.1 percent of those respondents, but Google placed not far behind with 27.8 percent. Apple, Facebook and Amazon rounded out the top technology companies at six, seven and nine, respectively.

“Top talent is thinking about their resume and about where they’re going to be challenged and excited, which I think might explain some of the tech companies on the list,” Russ Hagey, chief talent officer for consulting firm Bain & Co., told The Journal.

There were major differences between the total sample and The Journal’s more selective group, according to Universum. Google actually takes the top spot among the full sample, while Apple actually rises from sixth to third, suggesting the firm is seeing less interest from top talent.

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U.S. sees substantial private sector growth http://finance.youngmoney.com/careers/u-s-sees-substantial-private-sector-growth/ Fri, 08 Jul 2011 15:22:55 +0000 http://finance.youngmoney.com/careers/u-s-sees-substantial-private-sector-growth/ The U.S. added 24,000 manufacturing jobs alone in June.The future of the U.S. economy remains somewhat in doubt, but June showed major improvement in certain areas of employment, according to The Financial Times.

The latest ADP National Employment Report found that the private sector in the U.S. added as many as 157,000 jobs in June, compared to only 54,000 in May. The gains shocked many analysts, who generally predicted gains of less than half that amount. Total employment gains were more modest, with the Bureau of Labor Statistics reporting only an additional 18,000 positions.

“This month’s jobs figures are a significant improvement over May’s, particularly in light of last quarter’s disappointing 1.9 percent GDP growth,” ADP chief executive Gary Butler noted. “Given such strong employment results despite poor GDP, I am optimistic we will see improving job growth in the second half of the year.”

This contrasts sharply with the recent column for Bloomberg by U.S. Business and Industry Council research fellow Alan Tonelson, who argued that U.S. economic recovery has been largely illusory. He argued that most gains stemmed from education, healthcare and other areas that are heavily subsidized by the government. By contrast, education and healthcare combined for no change in June, according to the BLS.

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Wall Street Shows Some Weakness http://finance.youngmoney.com/careers/wall-street-shows-some-weakness/ Wed, 06 Jul 2011 15:36:42 +0000 http://finance.youngmoney.com/careers/wall-street-shows-some-weakness/ Some cracks are forming in Wall Streets facade as tight markets limit bank revenue.For a long time, the financial world has seemed like the unstoppable behemoth of the American economy. The Wall Street Journal notes, however, that the sector is hardly immune to market forces, as evidenced by a growing wave of layoffs sweeping across some of the biggest financial firms.

Just since last Tuesday, layoff announcements between 100 and 600 people have come from Credit Suisse and Barclays. Other banks are expected to announce cuts in coming weeks.

“Banks are chopping a lot of wood, both deadwood and live wood,” Michael Karp, managing partner at consulting firm Options Group, told the Journal.

The layoffs are hardly on a whim, but follow steadily dropping revenue from a range of investments as well as services. Daily trading has steadily declined over the past year, dropping 31 percent from the second quarter of 2010 and 10 percent from last quarter. Projections for the first half of 2011 estimate a 10 percent decline in revenue from last year.

Some firms, like Bank of America, are simply closing units involved in some of the markets targeted by the new Dodd-Frank financial reforms.

The BBC, meanwhile, reports that the British financial sector has actually grown substantially, despite upcoming cuts among some banks.

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U.S. Recovery Not What It Seems http://finance.youngmoney.com/careers/u-s-recovery-not-what-it-seems/ Wed, 06 Jul 2011 15:27:41 +0000 http://finance.youngmoney.com/careers/u-s-recovery-not-what-it-seems/ Tolenson argues hiring teachers cannot be treated as economic growth.The recovery from the financial crisis that began three years ago has been slow and painful, but the country has seen a number of promising indicators in recent months. Writing for Bloomberg, Alan Tonelson of the U.S. Business and Industry Council contends these signs of recovery might be overstated, however.

Reports from the Bureau of Labor Statistics suggest that the American economy has been slowly but steadily adding jobs across a range of sectors. The preliminary report for April suggests as many as 83,000 jobs were created that month, but Tonelson notes that as many as 34,000 of these positions came from healthcare, social services and education.

Tonelson argues that positions that rely partially or entirely on extensive government subsidies, such as those 34,000, ultimately add little to economic production. Instead, the focus should be on private sector jobs such as manufacturing, which are seen to add value. These jobs have fallen substantially as a proportion of the U.S. economy, from 86.2 percent in 1950 to 83.8 in 2007 to 83.1 today.

Nonetheless, CNBC reports that layoffs have declined to their lowest rate since 2000, offering some hope for eventual growth.

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Bright outlook to greet freshly graduated job hunters http://finance.youngmoney.com/careers/bright-outlook-to-greet-freshly-graduated-job-hunters/ http://finance.youngmoney.com/careers/bright-outlook-to-greet-freshly-graduated-job-hunters/#comments Mon, 09 May 2011 12:56:31 +0000 http://finance.youngmoney.com/careers/bright-outlook-to-greet-freshly-graduated-job-hunters/ This year's college graduates are facing a market that's slightly more friendly this year.Bright-eyed, bushy-tailed college grads eager to start their careers have some good news as they hunt for their opportunity to break into the workforce at the entry level.

CNN reports employers are preparing to hire 19 percent more newly graduated college students this year as compared to figures from 2010, according to the National Association of Colleges and Employers (NACE).

And, the association reports, the average entry level salary for the newly graduated will be $50,462 per year.

Further, graduating seniors are more likely to already have a job offer now as compared to their counterparts at this time last year, according to a NACE survey. Forty-two percent of seniors this year received for offers from where they applied while last year 38 percent scored an offer.

But this year’s graduating seniors also are more finicky when it comes to job offers presented to them.

“We’re seeing many more seniors applying for jobs this year, and we’re also seeing more turning down job offers,” according to Marilyn Mackes, executive director of NACE.

She said this year’s crop of graduating seniors also is more aggressive. At least 66 percent of 2011 graduates applied for a job while 2010 saw slightly more than 45 percent apply for opportunities.

In 2010, 59 percent of the graduates who were offered jobs accepted the offers yet this year, that figure slipped to 57.5 percent.

“This year’s graduates are a little more willing to hold out for a different job offer,” according o Mackes.

Experts’ advice for those who have not yet landed jobs includes be prepared to network, both face-to-face and online. Hiring managers and human resources officials are likely to search for applicants’ profiles on social media sites, which means incriminating photos or ones that project images of potential employees who are less-than-responsible should be removed.

Candidates should upgrade the professional level of their email address and their greetings on voicemail since potential employers have direct access with those to means of contacting the candidates, CNN wrote.

The student’s alma mater likely has a career center and alumni office, both of which can serve as openings on which job hunters can capitalize.

Another piece of advice for applicants is to beef up resumes. Though some employers only look at resumes for 30 seconds or less, the prominent points of an applicant’s background should be highlighted. A special emphasis should be placed on work experience that is both inside and outside of the classroom.

That tactic will prove to be especially notable if the candidate holds a minimal amount of professional experience because hirers will note the job hunter devoted some time while a student to being a go-getter rather than a slacker.

Also attractive to potential employers are internship opportunities, part-time work, club and volunteer work, and involvement with organized athletics.

The internships also can widen into opportunities. A NACE survey revealed at least half of hiring managers brought aboard their interns by giving them full-time positions. Maintaining contact with former employers is a strategy that should never be underestimated.

Once the interview process begins, potential employers are likely to notice how the applicant behaves, what kind of poise the applicant carries and the manners that the interviewee displays.

Also of note is how prepared the candidate is for the interview, whether the applicant knows about the company and how appropriately the candidate is dressed.

And as the final touch, applicants should always remember to send thank-you notes as a method of remaining high-in-mind. These days, emailing a thank-you note is acceptable if not a more rapid strategy to stay in mind.

But letters sent via snail mail tend to be more formal.

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