Student’s Guide To Working And Getting A Job

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If you are a student that is just finishing school and thinking about getting a job, then this guide will help you map out how to get one. It will also show you how to manage your money once you have a job so that you can enjoy the earnings you make while planning your future.

If you are a student about to graduate, you probably have two important things on your mind: graduating and getting a job. It can be a very exciting time of your life because you know it is a turning point in your life, but it can be very stressful as well trying to figure out where to send your applications and what you really want to do.

Getting a job you really enjoy:

Sometimes it can be difficult to get the job you desperately want right away. There may be a lot of competition for this job if it’s a good one, but there are some things you can do to give yourself that extra edge and land the position.

Sign up with a recruitment agency

A good agency will be aware of which companies are hiring for student jobs because they have contacts with the good firms. It is worth your while to sign up with one of them, but it is even better to sign-up with more than one to give you the best odds possible.

Networking

There is nothing wrong with doing some cold calls to try to find a job, but it is better to attend industry seminars and conferences and start talking to people in the industry.

Read some industry publications

These publications often have advertisements for University student jobs in them, and as you read some of the articles you will find out who the key companies and important people in the industry are to contact. A lot of job vacancies in Australia  are filled not by advertising, but by word-of-mouth. Ask your friends, family and neighbors to keep their eyes open for any job openings in your field. It wouldn’t hurt to give them your resume as well, in case they hear of a good opening and want to pass it along.

Setting up for the interview

Here are some things you should know about before heading off to an interview for student jobs.

• Dress appropriately and get there early.
• Consider how this position will help guide you on your career path.
• Smile, be happy and confident.

Be prepared for some common questions before you head for the interview, such as what you can offer to the company and what your weaknesses and strengths are.

Here are some things you can ask at the interview to find out more about the job you are applying for.

• Is it written into your contract when and how often your salary will be up for review?
• Will you be paid for overtime work if you end up getting a job with the company or will you receive time off instead?
• How long is the probationary period for new employees? The normal length of time is three months.
• If you decide to leave the job, how much notice do you need to give?
• How is a bonus system calculated, if there is one?

How to budget for work

Once you have started looking for University student jobs you will also need to start budgeting some money away for work related items. It does cost money to get a job, even though once you have started and gotten the ball rolling you will be earning a decent income. One thing you’ll need, for example, are appropriate work clothes. If you are heading into the construction field you may need work boots and overalls, and if you are heading to an office setting you may need some new suits.

You will also have to factor in transportation costs, and money for lunches. You’ll need to figure out whether you can afford to go to a local restaurant for your lunches or whether you need to bring your own. Another important item will be budgeting some entertainment evenings with your new work colleagues.

Once you have worked out your expenditures will be for your new job you can start budgeting for them, or if you are brave enough, you can even ask for a rise in pay.

Watch out for mobile expenses

A mobile phone can often be considered a necessity these days, but if you are just getting a job, you don’t want to spend half your wages on a giant phone bill. If you find that your phone bill is getting out of hand, it may be time to examine how you can get this bill lowered.

If you want to get your mobile bills down to a level you can afford, there are a few things you can do, besides using it less for conversations.

• Find out what you are getting for your money. Every month you pay this bill, so you should know exactly what you are paying for. Does a monthly fee include text messages, and are your voicemail messages free or do you have to pay to retrieve them?
• Make sure the plan is what you need. If you use voicemail loads or SMS you would need a different plan than if you just use it for calls. You should look at the services you want on your mobile and then find a plan that charges a lower fee for the services you need. Sometimes a capped plan is best, and sometimes a prepaid plan would be better suited for your needs.
• Download less games and ring tones because even though they are fun, the costs do add up.
• As soon as you hear your voice mail clear it off the system. It may be cute and funny but if you listen to it quite often you’ll have to pay for it.
• Find out what the cost is to call people that use other networks. In many cases you will have to pay a lot more to call someone that uses a different network. This is especially true for peak times. Look at your mobile terms and conditions to find out what tariffs are available for you so that you can save some extra money.
• Be careful about calling overseas with your mobile phone. Text messages and calls usually cost more if you are using your phone overseas, and this is especially true for any type of prepaid service. You can check your contract to find out the cost of calling or texting overseas.

Once you get a job you’ll be pleasantly surprised to see the money rolling in and it can be quite overwhelming. You may be enjoying your new found income and having fun spending it, but the time comes when you need to do some planning with your money. You may want to consider putting some money away for some new furniture, a trip, or a course.

If you are working towards some type of items to purchase, and it costs more than a month or even a week’s pay, you’ll have to look at the big picture and do some planning. This applies whether you want to pay immediately using credit or whether you decide to save up for it.

You will be able to achieve many of the material things you desire by working for a living, but remember that the actual act of working itself costs money. This is why a budget is absolutely necessary. You will be able to work out what you can spend on the essentials, and what you can spend on luxuries.

Work out your goals

Here is an easy plan to help you work out your goals very quickly.

• What are you able to achieve within the next 6 to 12 months, or two years? Examples of this would be new clothes for work, a large screen TV or a holiday you’ve always wanted.
• Where do you see yourself in the next 3 to 5 years? Examples of this would be saving for a house, having your own vehicle or being able to afford a holiday every year.
• Where do you see yourself in 5 to 10 years? Are you saving for foreign investments, living in your own home, having bigger and better holidays or starting a family?

If you want to reach your goals you’re going to have to set aside some money to put into savings. Can you sacrifice now so that you will be better off in the future?

Force yourself to save

If you’re serious about reaching your goals then you need to be serious about saving your money. The best way to do this is by setting up a direct debit that sends money over to your savings account on a monthly basis. If you don’t see this money then you aren’t going to miss it. Make payments towards your savings at the beginning of the month so that you always have enough money to pay the bills at the end of the month.

Investments

Once you have your savings building up you may want to consider some of these investments.

1. Shares. When you purchase shares you are buying a small ownership of the company and that gives you access to some of the profit made by this company. You will be paid in the form of dividends. Some people make a very lucrative income by investing in shares, while others do not have the same fortune.

2. Managed funds. If you are not well versed in the financial field you may want to turn some of your money over to a professional fund manager. He will make investments on your behalf that he feels are the wisest.

3. Cash. You can always put your money in an online savings account, term deposit account or bank account and let it sit there and earn interest. You will get a lower interest rate than with most investments, but this pays off by being low risk.

4. Superannuation. Your employer has to pay at least 9% of your salary towards a retirement fund. You are also able to add contributions to raise your retirement savings significantly.

Taxes

Unfortunately, taxes are part of any worker’s life, and the kind of job you have will influence how much you have to pay and what you can claim. It also makes a big difference whether you’re working for an employer or whether you are self-employed when it comes to handling your taxes.

As mentioned above, superannuation will also cut into the amount of money you are bringing home. 9% of your income will be taken and put into a retirement fund of your choosing.

Tax information

The amount of tax you have to pay will depend on which tax bracket you fall into. The higher your earnings, the higher your tax.

You will be given a tax file number by the Australian Taxation Office so that your tax records are kept on track by this office. You will need to quote your tax file number quite often so it is quite an important number.

While superannuation can be bothersome to pay while you are young, it may be one of the most important things you do for your later years. If you want a lifestyle that is modest upon retiring, a couple would need $25,000 per year and a single person $18,000. For a more comfortable lifestyle, a single person would need $34,000 and a couple $46,000.

To put this into perspective, by the time you are 65 and ready to retire you should have approximately $370,000 built up in savings to be comfortable. That is about $30,000 a year.

In today’s economy, paying 9% only on your superannuation will not be enough to give you a comfortable retirement. Therefore, you should try to pay more into the fund whenever possible.

Don’t rely upon getting a pension because by the time you retire there may be very limited access to the pension.

Ask for a pay raise

After reading all this you may be thinking that you can’t afford all of it with what you are currently earning. It may be time to ask for a pay raise.

It’s not always pleasant asking for a rise in pay but there are certain steps you can take to make it more likely to go in your favor. If you understand the expectations of your employer, and they have an accountable record of yours, that process can be simplified.

As you become more knowledgeable and skilled at your job you become more valuable to your employer. You are considered even more valuable if you are responsible for developing relationships that gives you organization a lot of benefit.

Tips for successfully getting a pay rise

1. Show your employer why you deserve one. Make a list of all the positive aspects you have contributed to your job such as workload, and achievements and responsibilities. Show them why they should pay you more.

2. Be clear. Let your employer know that you want a pay rise without getting distracted and talking about other things. Be pleasant, confidant and straight to the point.

3. Don’t say “I need” or “I want”. Don’t put this into terms of yourself wanting money, make it so they see why they should pay you more. Look at it from your employer’s perspective.

4. Negotiate. If you don’t get everything you ask for be ready to negotiate. After all, it appears that your boss is willing to work with you.

5. Ask for more responsibility and extra work. Be willing to take on some extra work and then ask for a review after three months has passed. This is a good way to prove yourself.

6. Find out what competitive companies pay. Do some research and find out what other companies are paying their employees that are in a similar job position as you are. Work this into a persuasive argument that you can use with your boss.

7. Find out if you can get an annual salary review. If you are currently receiving performance reviews find out if they are linked to a review of your salary as well. When it is time for the next review you can remind your boss about it politely.

Use this guide wisely when you are first getting a job, and make some decisions based on it. You have a long future ahead of you, and with good solid decisions you will have a prosperous life and a comfortable retirement.

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