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3 Months In, 3 Months to Go

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(Or why when unemployed, you need to keep moving – literally.)

When I was laid off 3 months ago, I gave myself 6 months to find a job in the States before I turn to working in China. I realize that the market is tough right now, and even though things might be slowing recovering, I am not going to sit out a year of my career.

I need to get moving, and China (because of my language background and its stronger economy and rising stature as a world economic power), is a logical fit. To be honest, I would prefer to stay in the States and possibly move to China at a later point in my career, but that all depends on how the job search pans out in the next few months.

On the bright side, I am thankful for a lot of things related to this period in transition: I have taken the opportunity to work on a couple of freelance projects, develop new skills, strengthen my language abilities, improve this blog (hopefully you guys agree? icon smile 3 Months In, 3 Months to Go ), adopt new hobbies, learn to cook, and spend more quality time with Mom. So it’s definitely not all doom-and-gloom.

But now I am at the halfway mark of my time line. I’ve sent out numerous resumes and had a handful of interviews. It can a roller coaster because sometimes, you just can’t help feeling really excited about an opportunity or an interview, and then to be told “you are a superb candidate but we just can’t give you an offer right now.”

That is why, when you are thick in the midst of a job search, you need to have a physical activity – one in which you can go and just do – and leave the thinking and the over-analyzing behind for a moment.  Then of course, there’s the exercise endorphins that will really, really help you. Some people swim. Some train for marathons. I pull on my stilettos and go tango.

Somehow, it feels strange that 3 months has already passed. The truth is, sometimes I am afraid I’ll never catch up – in terms of finances, career, life. And the moment I think that, I stop myself. Because that thought is ridiculous and irrational, because I will catch up.

**This week, I participated in:

Job Fairs: How to Prepare So You Stand Out

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jobfairs 300x280 Job Fairs: How to Prepare So You Stand Out

Job fairs can be a great opportunity for applicants to interact with many different companies. But if you don’t prepare adequately, job fairs can be a disaster. Last week, I attended a job fair – prior to the event I debated whether I should go. I had heard the horror stories about long lines that snake twice around the city blocks and the paltry company-to-applicant ratio.

In the end, I’m glad I decided to go. I had a good experience because the job fair had a good ratio of companies to candidates and I had very clear and realistic expectations going in (make contacts with Companies ABC & XYZ), which I fulfilled.

Here’s how to figure out what job fairs are worth a visit and to prepare for job fairs so you stand out among the other applicants.

Before Job Fairs:

1. Determine if this job fair is worth your time and effort. Look at the requirements for attendance – for example, some fairs require a 4-year degree, others don’t. Some fairs are specialized (i.e. teaching professionals or high-tech workers only), others are general. Look at the location (is it 15 minutes away? 3 hours away?).

2. Go over the company list (most job fairs would offer this information online) and pick 2-3 companies that are your top choices.

3. Spend 30-40 minutes researching your top choices, particularly on any programs / specific functions you are interested in. Spend another 10-15 minutes studying a few other companies that you are interested in.

4. Print out copies of your resume. Make sure your contact information is correct! I’d suggest 2 copies for each company you plan to visit. Then add another 5 just in case.

5. Get to the job fair early if you can. It’s an advantage to be among the first group getting in the door.

At Job Fairs:

1. Hit your top 2 or 3 companies first – they might become much busier later in the day (this was my experience).

2. Be attentive, engaging and personable.  Be proud of your accomplishments and don’t apologize for being out of work. Ask good questions that let recruiters know you’ve done your research, but don’t act like a know-it-all. Try to get at least 5 minutes of quality time with them, but don’t monopolize their time if there are other applicants waiting. Get a business card and thank the recruiters for their time.

3. Avoid job fair burnout. It’s probably unrealistic to go to each company’s booth – don’t pressure yourself to do so. It’s better to present yourself well to a smaller handful of companies than try to go see every company just for the sake of doing so. I decided that I had 3 places I wanted to go see, and everything else was just gravy.

4. Mingle with other candidates. I met a couple of nice people and exchanged information. Who knows, I might see an opening that they will be interested in, and maybe vice versa. Good karma never hurts.

5. Be nice and professional to everyone, including the hotel staff. One lady angrily exclaimed at the front desk that she won’t be paying for hotel parking because she has been out of work for a year and can’t afford the $10 fee. If a recruiter overhears her, what impression would that lady have created? (The job fair advertisement didn’t mention a parking fee, but a quick call to the hotel would have resolved that question).

After Job Fairs:

1. Follow up with recruiters from your top 2-3 choices and/or with whom you have established a rapport. A short and sweet email will do the trick.  Just remind them of where you met (job fair and date), reiterate your interest in the company, and thank them for their time. Attach a resume.

2.  Stop at the yellow light, especially if the intersection is in a revenue-hungry city has a Red-Light Camera. Seriously. Or else you will be end up like me and be out $500+. Hence rendering it a very expensive job fair, indeed.

Why I ALWAYS buy in at the office lottery pool

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I have never bought lottery tickets on my own. But if there’s a pool going on at the office, I’m there. I’ll run to my car and dig for change under my car seat if I have to.

Why do I do this?

Consider – there are 4 basic scenarios:

1. You participate – the pool loses.
2. You participate – the pool wins.
3. You don’t participate – the pool loses.
4. You don’t participate – the pool wins.

In Scenario 1: the most you will lose is your contribution ($1 or $2 or $5). Scenario 2 is the big one, of course – depending on how much you win, that can be financial freedom right there (or at least enough for a down payment or a year’s worth of Roth IRA contributions).

In Scenario 3:  you don’t lose anything. You get to keep your dollar for tomorrow’s lunch, or whatever. But Scenario 4… Scenario 4 is the WORST possible scenario of them all. It’s the reason why I buy in lottery pools – not because I think I’ll win, but to protect myself against the horror that is Scenario 4.

I understand that the chance of the office pool winning is small. Very, very, very small. Close to impossible, even. But I’m not talking about probability here – I’m talking about being the only person who did not participate in the lottery and now has to watch all his/her coworkers jubilantly cash their million-dollar payouts.

I most happily and willingly pay my dollar or two to insure against that scenario from coming true.

Do you always buy in at the office lotto pool?

When I grow up I want to be a guiltless mom

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My mother is a towering figure in my world – I’ve always secretly thought that she can’t possibly be as whip-smart and determined and rational as I think she is… can she?

Fabulously Broke wrote an interesting post on stay-at-home mothers. The post got me thinking… I don’t quite know what to think when it comes to the “debate” on stay-at-home mothers vs. working mothers. Even though I see myself as a working mom, all moms just try to make the best choice they can for themselves and their family, right? Can’t we just ditch the guilt and get along?

My mother always worked, though she always made sure she can pick me up from school and cook me my favorite meals. We didn’t spend a lot of time together otherwise (although Mom DID sit me down and walked me through the calculations of prepaying a mortgage when I was in middle school).

I don’t ever remember wanting more time with her. I suppose it was because I was a fairly private child. I had my books and girlish secrets and I wasn’t a fan of heart-to-hearts. Too awkward and revealing. My thoughts were my own. MINE! (I was also really stubborn).

The only time I remembered missing Mom was when I was very young, when she went to work overseas for almost five years. I grew up with very loving grandparents who coddled me a bit (OK – a lot). Mom missed out on a big chunk of my childhood, but I have never felt bad about it.

It was always something that she had to do in order to give me a better opportunity. If Mom ever suffered any guilt over the situation, it didn’t show.  There was no hand-wringing or second-guessing, at least not in front of her child.

As I grow older, I really think that that no-nonsense manner is the best way to act when a mother (or father, or both, as it was in my case) decides to work overseas, work domestically, or for whatever reason cannot spend as much time with their children as they’d like (or think they should). This matter-of-fact approach shows children that things, while maybe not ideal right now, will eventually be OK.

I think children are resilient and can adapt to most circumstances as long as they know that they are loved and wanted. Don’t introduce guilt or confusion or self-flagellation into the picture. Most kids will do just fine.

Forget Supermom. If I become a mother, I just want to be a guiltless mom.

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Monday musings on employment, unemployment, and the such

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Recently, it seems as if a new word has entered the recession-inspired lexicon. First we had “staycation,” then came “frugalistas” and “recessionistas.” Now, there’s “funemployment”. Los Angeles Times and SF Weekly both published features on the trend (and I have several friends who are taking time off to do their own thing).

So while all the dismal jobs news makes me feel anxious about my career future, these reports help me feel like, well, the world wouldn’t end if one does not have a job for a little while.

Out of college, everyone (or so it seemed) wanted to “take over the world.” But this deep retrenchment may have given people – especially young, well-educated professionals in their 20s and 30s, a chance to reexamine their ambitions, priorities, and assumptions.

I wonder – if this dismal market has given people the chance to do something differently, chase their dreams instead of the next promotion. Having experienced or witnessed the massive disruptions to our identities as producers and consumers, how will we respond once the recession ends?

One 20something blogger I read is Molly of These Little Moments (who shares my penchant for shoes). She has been unemployed for 6 months after being laid off from her job in public relations. Today, she wrote a very honest post about her experience with unemployment, and how this stint outside the workforce has changed her view towards work and altered her career ambitions.

This recession has affected my thinking too – maybe not as drastically as it has Molly, but it definitely has on several fronts.

The recession has reminded many people – myself included – that family and friends are the most important things in life. My thinking has always been that true love and friendship are hard to find. So once you do you better hold on to them for dear life! I think for me, a rich and fulfilling life can be lived out in both the personal and professional spheres. This recession has reaffirmed in me the importance of financial independence, and my desire to have a career, not a job.

One alumna sticks out in my mind – she worked at several large companies domestically and internationally, graduated from a top business school, and now is in charge of marketing an entire brand in Europe. She’s maybe 35. She’s going to be a CMO or an EVP one day (maybe even a CEO), I can almost bet on it.

I’m impatient, and sometimes, on a bad day, it feels like I’m already falling behind. But I know I can get there.

Signed my lease and fear of flying

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The apartment is mine!

Afterward, my future landlord and his wife showed me their tiny little herb garden and invited me to come and get cilantro, basil, thyme, or rosemary anytime I want.

It’s seriously time to learn to cook!

I can’t believe I lucked into an apartment with just about everything I wanted, and at such a great price. And with such nice landlords.

In other news, I am worried about being let go at my job. One of my friends just passed his sixth month on unemployment. But being out of a job may be the impetus for me to finally take action on my idea.

A lot of people around me (four, at last count, and all in their 20s) are pursuing their own businesses, even (or maybe because) of the dismal labor market and recession. Some have been laid off, but others are quitting decent-paying jobs to take a risk and make a go of it on their own.

Talking to them and hearing the excitement they bring to their work inspires me. The trick is to get enough inspiration and determination to get over the FEAR of flying out, on your own.

How to start a startup*

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* I don’t actually have the answer to this question. If you do, please share!

BUT – I’ve been kicking around a couple of ideas after speaking to my cousin. I’ve also discussed starting a side business with my roommate a while back. And for several months I just kind of let the ideas die away because, well, I am scared and apprehensive and I’ve never thought of myself as particularly entreprenuerial.

Yet – I have some ideas that I think are worth progressing on. I’m going to speak to my parents later this week to get their input on it. I have NO idea if it will succeed, but it costs me nothing to think more about it.

Lots of market research and business planning in the works, me thinks.

Try

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Things have been… a little stressful.

A big reason why I am saving so aggressively is because I am worried about my job. In my line of work, the billable hour is key (I don’t work in law, but the concept is similar). If you don’t bill, you don’t generate revenue, and if you don’t generate revenue, the firm has no reason to keep you.

Some weeks I’d work past midnight and have 8AM Saturday calls, etc., but some weeks I’d bill 2 hours for the entire week. Averaged out, my billing is below target. That means I am not producing enough revenue to make my position worthwhile. I’m going to have to be a lot more aggressive about getting on projects.

I’ve approached a manager about an upcoming project. If it turns into a long-term engagement, that’d be a really good development. In addition, there are areas of improvement that I really want to hit in terms of improving my technical modeling skills, seeing the “bigger picture”, etc. There are two managers who will likely write my business school recommendations, so that’s an added incentive to perform extra well for them (in addition to, you know, not get laid off).

So that’s the reason why I’m looking at 2009 with a sense of trepidation. The economy sucks. Unemployment is up. California is broke (IOUs for tax refunds, seriously?!). Graduate school applications are skyrocketing. I have to retake the GMAT and do better than the 88th percentile I scored the first time.

I’ve always been one of those people who overachieved. Who had a PLAN. Who did well. I’m trying to get that spark back.

I look around and try not to feel like a failure because everyone around me seems to be loving their jobs, winning promotions, going on cool trips, scoring 750+ on the GMAT, getting engaged, running marathons, and buying real estate.

I try to pray and be thankful for what I have.

I try not to mind that I don’t have life figured out.

My financial "restructuring" plan

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Given that most employment is “at-will”, and the shaky economy, very few of us have the luxury of being unprepared for the financial impacts of a job loss.

Companies often go through financial restructurings during times of difficulty, so I thought it fitting to have a plan in place for my own “restructuring,” should the need arise.

At the end of June I will have $12,000 in my Freedom Fund.

If I am laid off, all finances will go in CONSERVE CASH mode. Currently I am spending around $2,250 a month, but I can cut that down to $1,700/month. At that level, I can stretch my Freedom Fund 7 months (and it can go even longer if I move back home).

Rent / utilities / DSL : $830 (I included a 5% rent increase)
Student loan: $160 (may be able to have payments suspended)
Car insurance: $120
Individual insurance: $125 (estimate from einsurance.com)
Prescription: $60
Gas: $200 (may have to drive further for interviews)
Food: $125
Car repair: $80
Total: $1700

I have another $12,000 in Roth contributions that I can withdraw – although I’d move back in with Mom & Dad before that happens!

Do you have a restructuring plan in place?

Getting my Grey's

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I am so happy that Grey’s Anatomy is back!

Also, can anyone answer this… why can’t Meredith and Derek just be happy together?

I’m just wondering… if I have any readers out there who is (or studying to be) a doctor or a policemen or a firefighter or lawyer (regardless of all the lawyer jokes, when you’re in trouble you want the best!) … do you think you’d find these jobs more satisfying that other professional occupations (corporate lawyers, consultants, bankers, marketing executives, etc. etc.)

I’m just thinking… if you are a doctor/police officer you KNOW you are helping people, you are saving lives. And every day you encounter situations that reaffirms that (even if you fail sometimes). Every occupation contributes value, but the impact on people every day is less visceral, less individual.

For example, I can contribute to helping a company arrive at a solution for a particular issue, and that’s value being created. But somehow, it doesn’t have the punch of Meredith & Co., saving lives all day and all night (and somehow, still have the time and energy for various romantic complications!)

On the job

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I’ve been at my current firm for 3 months now, and I’ve set up an informal performance discussion with a manager so that I have an idea of how I’m doing (and to get a tiny taste of what the formal mid-year review would be like).

It’s a little overwhelming to start at a new job and have to do so much learning, but it’s got to be done. If I want to move forward in my career and earn the promotions & performance bonuses, I’ve got to 1. make sure my work is high quality (can I get some “value-add” with that?), 2. build relationships, and 3. negotiate and advocate for myself.

#2 and #3 would be MUCH easier if I’ve got #1 down, but all of those factors are important. I don’t think I am terrible at negotiating / advocating for myself, but it’s definitely an area for improvement and something that I need to work on.

I have to say that my internet role model in this regard is Single Ma – her negotiation skills and assertiveness is something to be admired and emulated by any young professional. Now, I don’t expect to get to where she is in the next 6 months or 2 years (she’s got a decade on me! – but not sayin’ you’re old, Single Ma!), but just like saving for retirement, it’s never too early to get serious about managing one’s career.

New Year = New Job

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Maybe some of you were able to tell from my posts that I’ve been feeling a little unsure of where I’m going lately. My previous position was a great opportunity and the pay trajectory was steep, but I realized that it wasn’t the right fit for me. I am happy to report that I have accepted a new job.

So I will start 2008 with a new job and a new lifestyle – for one, I won’t be at the office eating expensed meals every night of the week, which means… I will get to grocery shop and cook! (that’s one of the things I’m most looking forward to).

I have so many things that I want to do now that I’ll have a little bit more time: I want to volunteer, read more often, take advantage of all the wonderful museums that are around me, buy fresh produce at farmers markets, poke around thrift stores, see friends, visit Mom & Dad, go watch movies, start exercising regularly, and just take better care of my body and my mind in general. 

Money is hard to earn

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Right now it’s just a bit past 5 AM. I got home about 20 minutes ago.

This reminds me, yet again, that making money is NOT THAT EASY. And thus I SHOULD NOT waste it on frivolous things.

Good thing that the shoes, the jeans, and the blouse that I purchased from Banana Republic didn’t fit well – so I can return them and get back $150. Maybe this is God’s way of having a sense of humor. Spending that goes against your financial goals? Let me give you a doozy of a day (and night) at work so you know what a dollar is worth!

Har har har (I’m not bitter, I swear).

Tales of the Trailblazers

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This is a 1998 article from FORTUNE, about the 34 women of Harvard Business School’s Class of 1973 (the first year that HBS had a “significant” portion of the class be female – 4.4%).

Even though this article is almost 10 years old (can you believe that the 90s were TEN years ago!? I feel old), I really think it’s timeless.

Their advice: You can do anything, but you can’t do everything. So choose carefully.

The right question is about choices: implicit ones, explicit ones; choices made consciously and choices made by default. The wise women of the class of ’73 now know this–which is why they are nearly unanimous in the advice they would like to pass along to the women following them. The advice is not about how to break the glass ceiling or how to survive a sexist boss. It is instead to know thyself, and then to make your choices accordingly. “We in this generation were raised to think we could do anything,” says Lang. “Our parents told us, ‘You’re smart. You’re educated. You can do anything.’ And the answer is yes. You can do anything. But you can’t do everything.” The trick is having the wisdom to know the difference.

How the 9-to-5 have changed my spending ways

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Most bloggers warn against the dangers of lifestyle inflation as twenty-somethings go from broke college students to young professionals. Before I started working, I’ve also wondered if the thrill of the first paycheck would make me throw caution to the wind and just spend, spend, spend.

Instead, I’ve discovered that stepping out into the “real world” has turned me into a total cheapskate. Why? Well, let’s just say that after working 9 to 5 (that’s 9 AM to 5 AM. The next day.), I’ve truly learned the value of dollar.

Now, instead of going out for lunch, I usually eat leftovers from dinner or make instant noodles. Instead of running to Starbucks for soy vanilla lattes, I make hot chocolate in the office. Instead of buying a $30 lamp at Target, I spent $6 at a thrift store. I don’t browse at Banana Republic’s sales section anymore. I refuse to look at shoes. I might’ve even gotten over my love of handbags. My 4-year old laptop with an overheating problem and non-functioning Excel? It’s staying.

I still spend quite a bit of “weekend” money, but during the week I spend very, very little. And that is why I’m putting away $2,500+ a month: if I am working my tail off, then the very least I can do is to save enough money so that I have something to show for it.

Liberal arts to law school?

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For a LONG time, I planned on going to a top law school, specializing in corporate law, and becoming a Big Law partner by the time I’m 35. Yes, I had that life mapped out when I was 13. I like to read, I like to write, I like to nit-pick. I’d be the perfect lawyer!

I talked about becoming a lawyer all the time when I was younger. So Mom tolerated my liberal arts degree because she always assumed that I’d go to law school. This is how I escaped the dreaded, “so, WHAT are you going to do with that degree?” question for the first couple years of college. But my focus changed. After seeing older friends struggle with the Beast (also known as LSAT), and really wanting a break from 3 MORE years of schooling, I decided that I wasn’t sure about law school. Mom freaked out. In retrospect, I couldn’t really blame her. I mean, she spent $100,000 for me to read great books and think and delve into the questions of life, which is all fine and good, but doesn’t even BEGIN to pay the bills.

But despite the tension and pressure from Mom (and myself), I am really glad that I didn’t let what-am-I-going-to-do-with-my-life-let’s-go-to-law-school! push me into applying. Because once I’m on that treadmill I would’ve ran with everything I’ve got. So I knew, if I’m serious about law school, that would require a huge investment in terms of time, money, and energy. Then AFTER I get into a school, comes writing the tuition checks for $50,000 a year. After thinking it over, I concluded that I should NOT go $150,000 into debt to be tortured by the Socratic method.

I think this is something that many liberal arts students don’t think about. If they’re smart and don’t really know what to do after graduation, law school is often the default option. A J.D. is a valuable degree, but law school is such a huge investment when you’re not sure if you want to do law. Unless you go into Big Law for several years, it’d be pretty difficult to pay back the mountain of debt that you owe to Mr. Socratic. Fortunately, things worked out for me. I got a good job. I’m happy. Mom’s happy. icon wink Liberal arts to law school?