As students near graduation from college, or are starting back to class, more often than not their thoughts turn financial. Whether they chose a major with an end career in mind or they use their college education as a springboard for new opportunities, all students must consider their return on investment. With the cost of higher education averaging anywhere from $9,000 – $35,000 per year, a lucrative life after graduation is becoming even more important. In a competitive economy, having a profitable degree from a highly sought after field of knowledge could be the key in gaining career success. What degrees bring in the big bucks? We’ve listed some below. All salary information comes from the 2008 NACE (National Association of Colleges and Employers) salary survey.

Engineering

Not surprisingly, engineering majors in every category earn an average of $60,000 their first year after college. Chemical engineers are paid the most, working for a variety of companies in different fields including manufacturing, healthcare, and business. Chemical engineers design equipment and develop products. Electrical engineers rank second, with an average starting salary of around $55,000. Electrical engineers focus on the design and implementation of equipment used in all aspects of life- automobiles, aircraft, and electrical utilities. Both of these majors apply to a variety of different fields, contributing to the overall success of their earning potential. Mechanical engineers are a close third, with an average starting salary of $54,000. Mechanical engineers are also employed in a number of different industries ranging from agricultural to business.

Computer Science

As our society becomes more and more reliant on the internet and the advancements in computer related technologies and networks, working knowledge of the systems becomes a valuable tool. Computer science majors make an average of $53,000 their first year out of college. This number does include the entrepreneurs who take their computer science background and apply it to business models, advancing technologies and expanding the horizon of development.

Economics

Business markets are highly profitable, and graduates with a thorough knowledge of economics rank high in earnings potential. The average starting salary of a first year economics graduate is around $47,800. Most economics majors work in data research or consulting, and many work for the federal and state governments.

Management Information Systems

Students with an MIS degree work in all facets of business organization. They analyze businesses and contribute to a more efficient management structure. These graduates typically start in the mid $40,000 range their first year after graduation.

Finance and Accounting

Finance and accounting grads have many different options in a plethora of fields. The type of work is varied but always in demand. These positions have very valuable knowledge in intricate areas and generally start at $46,200 their first year out of school.

Business Administration and Management

This is also a lucrative field, as titans of industry are recognized by the efficacy in business management. This major is consistently one of the most popular, and for good reason- business grads can work almost anywhere! The average starting salary is $43,500 for these students, with a chance to accrue more wealth over the length of their employment term.

Keep in mind that a student’s ultimate return on investment is subjective. Yes, these types of degrees offer access to monetarily profitable careers, but it is also important to consider the subjective and completely independent determination of wealth- something that is measured differently by each person.

Throughout your career, you are definitely going to encounter a situation where you feel entitled to a salary raise but have not been offered one. Learning how and when to ask for a raise is the first towards taking control of one’s future and career. Unfortunately in these tough economic times, raises are not always freely given, in fact sometimes we feel like we are fighting for it. Capitalizing on successes and highlighting your ability to make a difference can often be parlayed in to raises. The trick is to know when to strike.

First, decide just when to ask for a raise. This can be tricky. Many employees opt to only ask for a raise on a yearly basis, but it is possible and sometimes even suggested, to ask for raises on a more frequent basis. When trying to determine the best time to ask for a raise, consider the following:

1. Is your employer financially secure? Even if your company announce it’s earnings from the rooftop, it is generally possible to determine if they are secure or experiencing cash flow difficulties. Obviously asking for a raise when a company is strapped for cash is not a great idea.
2. Has your employer recently won new business, reached a sales goal or other milestone? If so, it is often best to ask for a raise as soon as possible – especially if you contributed to the success.
3. Have you recently done something to change your company in a positive way? Finishing a large project, winning a new client or developing a helpful program for the company can make you shine and is the best way to successfully ask for a raise.

Once you have determined the perfect time to ask for a raise, you next need to learn how to do so in an appropriate manner that is professional but also persuasive (minus the chocolates and sucking up). Remember to keep all communications regarding your request positive, and be prepared for a ‘no’ or an offer that is less than you expected.

When asking for a raise, remember that your best weapon is your record of successful accomplishments. Properly documenting and presenting them is critical towards a successful request. Carefully and concisely outlining your accomplishments as well as your growth is the first step towards asking for a raise.

Finally, always remember that professionalism is key. Because of this, it is vital that an employee not ignore the management structure of their organization. Every employee should first approach their manager or supervisor with their salary raise increase request. Jumping ahead is little more than stepping on the toes of the manager and will likely not result in a raise.

If you are not satisfied with cost of living or non-existent raises, don’t be afraid to approach your manager about your needs. An employee who recognizes their strengths and contributions and is willing to learn and grow is an asset to any organization – raises simply make sense. Find the best time to present your request and documentation and you will likely see your salary increase.

OK first off…you know this is a terrible business climate right now, and a lot of people aren’t getting raises, so it’s not just you. The one thing you should absolutely NOT do is get in a snit and go storming out of your boss’s office. That will do nothing for your next evaluation, your next shot at a raise or your standing at the company.

You do, however, have the right to know why your raise was turned down, and there might be a number of different reasons:

• Company finances. With things being what they are right now in the business world, there’s a real good chance that this is going to be the case. And if they tell you that, there’s a real good chance that they are being honest with you, especially if nobody else in your department is seeing a raise. If that’s the case, there’s not much that you can do but accept it, get over it and move on. Not much point in getting upset, especially since 1 in 10 Americans are out of a job right now, and 2 in 10 are “underemployed”, with all that entails.

• Poor timing. Lots of companies only are allowed to hand out raises once during a fiscal year, or only after evaluations. If that’s the case, once again, there’s not much you can do about it. Of course, that doesn’t do you much good if your own expenses are going up, your spouse lost a job or your kids need braces. Depending on the nature of your job, maybe you can at least see if you can work overtime or get incentive pay of some sort. Unfortunately, if the company is feeling the pinch (as in the above scenario) they may also be cutting back on bonuses, overtime and incentive to scale back on payroll expenses. So…if you’re going to have to wait until the next quarter, next year or next evaluation (and overtime isn’t an option) your best move is going to be to keep the nose to the grindstone and do the absolute best job you can manage so that when the time comes, you’ll get that raise after all!

• Poor performance. If your raise was declined due to performance issues, this is when you need to be proactive, stand on your own two feet and find out the specifics. Chances are you’re going to find this out when it’s evaluation time anyway, but regardless, ask your supervisor or department head what areas need to be improved. Find out where your weak points are, and do your dead level best to improve on them. Or, your alternative might be to start looking for another job elsewhere, with better pay and better opportunities. But a word to the wise here: if you’re moving in that direction, keep it to yourself. Nothing can sabotage your future at a company quicker than making it known that you’re thinking about moving on.

With so many people currently seeking employment, a big question on many minds is how to decide what your job skills are worth.  What salary are you willing to accept?

Your first task is to research: research, research, research.  If you have a friend at the company, ask them how pay works there, and if they know anything about the position that you’re trying for.  Some companies have tables of top, medium, and low pay for each title.  This information can come in really handy when negotiating.

Especially look at new employee salary, if available.  Keep in mind that their idea of proficiency may not be yours, just saying that you’re proficient in French doesn’t make it so in their eyes.

Call HR and get the name and full list of responsibilities for the position that you’re interviewing for.  You can use this information to find a benchmark position online — essentially the commonly used title for what you’ll be doing.  This will allow you to do accurate salary research.

Through various sources online you should be able to find salary ranges for different positions.  If women’s and men’s pay information is available, use the men’s, even if you’re a woman!  Unfortunately, it’s likely to be higher; in this way you can ensure that your negotiations are as fair as you can make them.

Take into account that location is a big factor in pay rate. What’s the cost of living at the job location?  If possible, get average pay rates there and figure out what the salary range for your position is in that area, if you can’t find the specific numbers on that.

Often, employers like to ask about your salary requirements in advance.  They can use this factor to weed out expensive employees or to offer you less, if you were previously underpaid.  Instead of giving them this leverage, whenever possible, avoid giving any information.  State that it’s negotiable, based upon job responsibilities.

If it’s impossible to avoid completely, give the range that you’ve come up with from your research.  And when in negotiations, start at the top of that range, because you know the company is likely to want to start at the bottom.

Research has shown that women are less likely to negotiate for a higher salary than men are. It is believed that this is a factor that leads to lower pay for women.  Women, take this into consideration: you are expected to negotiate. It is not unseemly to do so, in a polite and professional manner.

Do ensure that you go in knowing exactly what you’re willing to accept.  Otherwise, you may feel pressured into accepting an offer that you’re not really willing to live with.

If the salary you’re offered is far below the range that you expected, verify that the list of responsibilities you used is correct.  Verify the position title.

Keep your tone polite, even if you believe they are being unreasonable. Remember, everyone is a contact, in the business world.  The last thing you want to do is burn a bridge.

Many of you know that I was at the Detroit “Good Morning America / Women for Hire” job fair the other day. There were about 25 résumé evaluators and approximately 5000 job seekers. They literally were lined up outside the doors at 3:30 am. Talk about motivated people. Wow. What a busy, productive and fulfilling day.

It was televised (GMA and local ABC news crew) and there were camera people everywhere. Sort made us feel like movie stars except the cameras really weren’t on us, and we didn’t get paid. But still.

I was really impressed by the amount of professionalism, ambition and previous success that most of the folks had. There were just a few people that could have used a few pointers. So in case you think you might be one of those people, here they are:

1-      DRESS AS IF YOU ARE AT AN INTERVIEW. Appropriate dress is really a MUST at a job fair. I know you already know this, but I thought I’d mention it again. You know the saying, “First Impressions are a Must”, well they really are.  I saw some people that looked gorgeous and really ‘wow’ed’ me. THAT is how you have to look. Not saying you have to go spend a fortune on new clothes. You can put together a new outfit from what you have. Wash your hair, do your nails, trim your nose/ear hair, you know… the usual. And if you have dread-locks, tuck them into your suit.

2-      HAVE A RÉSUMÉ PREPARED. (and if at all possible, have it professionally done). Yes, I saw many, many résumés and only about 5% of them were impressive. Remember, lead with your accomplishments, not your job description duties. The Microsoft Word résumé template was used in about 80% of the cases (yuck) I saw at the job fair. Remember, that is a template that doesn’t allow much give, so you may be cutting some significant info out because it won’t fit into the “template”. DON’T USE IT.

3-    PACK BUSINESS OR NETWORKING CARDS-A great idea is to bring along your business or networking cards. Business cards work well because they have your name, address and phone number on them. If they have a previous company name on them, better rethink handing them out. You can always make some inexpensive cards on your own home printer for just this occasion. Another idea is networking cards. Networking cards are business card sized cards that hold significant career information along with your contact information. 2 or 3 of your top accomplishments really stand out on networking cards.

4-      BRING A SMALL BAG, TOTE OR BRIEFCASE. You will be bombarded with giveaways (pens, company trinkets, business cards, candy, brochures, etc.). It will be easier to carry everything and your résumé portfolio.

5-      GET A BUSINESS CARD FROM EVERYONE YOU SPOKE WITH. You might want to follow up with something you talked about. Even better, after you’ve talked with them, write down some key things you spoke about on the back of the card so you will have it to reference when you call, or if they call you!

6-      KNOW THE COMPANIES. Find out what companies will be there and get to know a little about them. Nothing impresses companies more then when you display the knowledge you have about them. Show off a little bit. Impress them!

7-      GET INTO A GOOD MOOD. I had a few folks come sit down with me who were shaking and scared to death and I wasn’t even the hiring person! People can tell if you are nervous, distracted, moody, having a bad day, etc. That isn’t the best first impression to offer. Instead try to relax, smile, speak slowly and clearly (vs. rushing through what you want to say), and remember, the HR person knows you are nervous and understands. So try to relax and enjoy yourself. Fake it if you have to.

Job Fairs don’t have to be a bad/scary/nerve wracking thing. Remember, it’s just another avenue to try out in the midst of your job search You get to meet new people, learn a few things about different companies, and have free coffee.

According to the Payscale.com article, 10 Highly Profitable 2-Year Degree Jobs, by Michelle Goodman, the following careers can be most easily entered by clients seeking career change with only a 2-year degree:

1. Physical Therapist Assistant – average $46,111.

2. Web Designer – average $48,785.

                

How many times this week has the phrase, “this economy stinks” come from your mouth? How many times this week have you thought, “in this economy, I’ll never get a new job”,

or “I better hold onto my job, even though I hate it, and just be grateful I have one!”.

After you think these thoughts, how do you feel? I can guarantee it is not hopeful or positive. What do you think this does to your chances of finding a job? Would YOU want to hire you? Think about it. You are feeling gloomy and decide to cold call a company about a possible position opening. How is the tone of your voice? Upbeat or down? What is your attitude like? Did you know our mind and body transmit energy frequencies that can be felt by other people?

 

When you go to an interview and you are thinking, “I know I am not going to get this job. Why would they hire ME? I just KNOW they aren’t going to call me back”, what do you think the interviewer is feeling? “This person is not the right fit for the company. I won’t be calling them back.”

Think about the times in your life in other situations when this has happened. When things went EXACTLY as you thought they would.

It is very natural to worry about the economy and the job market. Anyone who turns on the news would agree. But what does all this worry do for you? For your health? For your job searching state of mind?  Remember, you can’t change what is happening out there, so worrying does no good. When my Dad passed away unexpectedly, my Mom said, “I worried for 40 years about something happening to him on the road (he traveled for work), and he ended up dying at home.”

We can’t change things that happen to us, but we CAN change how we react to it. It is very easy to stick our heads in the sand and just hope things get better with the economy, OR we can pick ourselves up and create a healthier attitude about it.

 

So what can we do?

 

If you are in a job presently and you’ve put feelers out and opportunities haven’t popped up yet, then focus on your job in a positive way. Do whatever you can to be the very best you can be. Focus on strengthening relationships with co-workers, vendors, etc. Not only do positive relationships perk up our mood, but they also will let you know if a job has opened up somewhere.

 

If you are job searching, stop worrying about the competition or the ‘lack of good jobs’ out there and focus on your brand and what values you offer to an employer and how you will articulate that in an interview. Expand your job search into new areas: go to networking lunches/dinners, freshen up your resume, and get excited about your job search. You are unique. Sell yourself.

 

Take a chance. Try a new career path. You never know if you might be better suited for something else. But most of all, stay positive and hopeful. Don’t be a victim like everyone else. Stand out from the crowd and be confident. Remember, your vibrant energy shines through and is felt by those around you, including hiring managers.

Thought this was too cute to pass up. Sent to me by CDI’s, Laura DiCarlo

2008 Horoscopes – Salary Negotiation By Sign

By Shanon Lyon, Special to PayScale.com

We’d all like more money, but how you approach a salary negotiation depends largely on your personality and work style. These 2008 horoscopes provide a bit of insight on how to approach your next salary negotiation.

Career Horoscope for Capricorn
December 23 – January 20

As a Capricorn, you work hard for your money. And, since you’re ambitious and patient, in most cases, you’ll likely get what’s due to you without having to ask. If you fear you’re being passed over, approach your salary discussions in your usual practical, no-nonsense way.

Career Horoscope for Aquarius
January 21 – February 19

You’re original and inventive, but you prefer to fly solo. Unfortunately, your lone wolf approach could cost you a promotion or a raise. Before entering a salary discussion, make sure you’ve demonstrated your ability to work well with others. And let your boss lead the negotiation. Suppress your impulse to throw out the first number.

Career Horoscope for Pisces
February 20 – March 20

Trust your intuition this year. If you think you deserve a little more cash in your pocket, you probably do. But, as a quiet fish who’s in danger of getting stepped on, you’ll have to speak up. Know exactly what you want before you ask, then ask with confidence. If your employer doesn’t meet your needs, consider looking for better opportunities elsewhere.

Career Horoscope for Aries
March 21 – April 20

You’re cool and confident, but you can also be impulsive and impatient. The salary negotiation tactic that will serve you best is a well-made plan. Know exactly what you plan to say and make sure you schedule a meeting for the discussion. Don’t approach your boss at the end of a meeting or in the hallway. You’re a great champion for a cause, so, with a plan in place, you should have no problem making a convincing case.

Career Horoscope for Taurus
April 21 – May 21

You’re not one to stir the pot, but, you won’t get a raise unless you ask. Realize that “no” is the worst that can happen. Use your natural business sense to approach the discussion in a straightforward, business-like way. And if your request is denied (or your raise isn’t as high as you’d hoped), don’t let your occasional hot temper flare. Ask for suggestions on how to improve and get to where you want to be.

Career Horoscope for Gemini
May 22 – June 21

You love to talk, and your eloquence and charm can come in handy when it comes to money. Make the conversation less about you and your needs and more about what you have done and will continue to do for the company and your boss. And, as hard as it might be, let your boss do most of the talking. You’ll get more information this way and be better able to negotiate. Silence can be a very effective strategy.

Career Horoscope for Cancer
June 22 – July 22

Though you’re outwardly thick-skinned, on the inside, you’re a sensitive person who takes negative feedback to heart. Your cautious and non-confrontational ways could keep you from approaching your boss about a raise, but, remember that business is business. Keep your emotions out of it, and you’ll be able to handle the discussion with grace and ease.

Career Horoscope for Leo
July 23 -August 21

As the king of the zodiac, you’re self confident and self-controlled. You know what you want and how to get it, which sets you up for a successful salary discussion. It’s in your nature to shoot for your stars, but make sure you do your homework first. Find out if there’s a salary scale for your position and then assess what others in similar positions are making. Aim high, but be realistic.

Career Horoscope for Virgo
August 22 – September 23

Don’t let your worrying ways get the best of you when asking for a raise. Before approaching your boss, write down all your accomplishments and contributions (better yet, keep track of them throughout the year). You’re often reluctant to take credit for a job well done, so ask for some peer input as well. Review your list several times before discussing your salary with your boss.

Career Horoscope for Libra
September 24 – October 23

As a Libran, your sense of justice and fair play is remarkable, but your reluctance to ruffle feathers could prevent you from making more money, even if you deserve it. Be assertive and ask for what you want. If you get what you think you’re worth, great. If not, perhaps you don’t belong there anyway.

Career Horoscope for Scorpio
October 24 – November 22

Because you dislike (and can easily detect) superficial flattery, you prefer to see the fruits of your labor in the form of cold, hard cash. Your straightforwardness will fare you well, just don’t get impatient. Temper your typical bluntness with diplomacy and keep a lid on your emotions when you discuss your salary with your boss.

Career Horoscope for Sagittarius
November 23 – December 22

You’re adept at social situations, so use this to your advantage when negotiating a raise. As a natural born traveler, you’re also a perfect candidate for alternate forms of compensation. Be flexible and willing to consider other options. Perhaps an extra week of vacation would be more valuable than money?

POPULAR DEGREES FOR JOBS WITH FLEXTIME / SALARY SURVEYS BY DEGREE
From Payscale.com

These numbers report the most popular degrees and median salaries in the US for people who report flextime as a benefit:

Master of Science (MS), Computer Science———————— $83,391
Master of Business Administration (MBA)————————$82,314
Master of Science (MS)—————————————–$75,858
Bachelor of Science (BS), Computer Science——————–$70,486
Bachelor of Science (BS)————————————-$64,979
Bachelor of Arts (BA)————————————–$58,796
Bachelor of Science (BS) in Accounting———————$58,564
Bachelor of Business Administration (BBA)—————-$57,816

ANSWERING THE QUESTION: “WHAT ARE YOUR SALARY REQUIREMENTS?”

Let’s look at what you should do if salary comes up in the early stages of the interview:

“First, YOU SHOULD NEVER BRING THE TOPIC UP! Never, never, never bring up salary questions until you have a JOB OFFER! But, if they bring it up, you have to address it, even Though it is inappropriately early. In the early stages of the interview, wanting to know your salary requirements is simply a ’screening tool.’ In other words, they want to know if your salary is realistic for the position – is it too low, meaning perhaps you aren’t as qualified or appropriate as you seem, or that you are higher than the salary range they had set.

Now, if you are higher, you are probably thinking that you would want to address this early on and not waste your time – no! Stop for a moment and think, have you ever bought something that cost more than you set out to spend after you heard about its value? Perhaps a car with added features or a house or even a washing machine? Three positive outcomes could come out of this interview even if you are out of their price range:

A. You could convince them that you are worth the extra investment.
B. You could create a new niche for yourself.
C. You could be put into another position other than the one for which you interviewed.

So, why burn your bridges with a straightforward answer that might ruin your chances for consideration? You must play the salary game. Here are a few ways you might offset this question being asked early in the interview:

A. ‘At this early point in the interview process, I don’t feel that either of us has gained enough information to value my skills for the job yet. Could we please address this at a later point in the interview process?’

B. ‘What’s important to me at this point is not so much the salary, but whether I am the right person for the job. I am certain if we both end up agreeing that I am the right person for the job, we’ll be able to come to a fair agreement, don’t you think?’

C. ‘I’m negotiable, what do you have allotted for the position?’

With answer ‘C,’ you are likely to experience one of two answers:

A. ‘We haven’t determined that yet. . .’
B. ‘The range for the position is $XX to $XX. . .’

With the above, don’t feel that you have to commit to a number in the range. I once dealt with a student who, in interviewing for a job, used answer ‘C.’ The employer responded with, ‘The position pays between $12 to $15 an hour.’ The applicant thought for a moment, decided that she was too experienced for $12 but not experienced enough for $15, so she said, ‘$13.50.’ She was hired at $13.50. The next applicant we sent a few months later was coached not to feel she had to pick from that range. She kept her mouth shut and was offered $15 with the same level of skill as the first applicant!

At this point, the interviewer might accept your brush-off answer, or they may decide to push for a commitment. You might next be asked, ‘You must have some idea of your financial needs?’ or ‘Certainly you have a range in mind?’or even, ‘hat’s the least you’ll take?’ Well, you can’t get around this. What you must do is have a range of pay to offer the employer with a very limited commitment to any particular dollar amount. In order to do this, you have to do your homework first on salary issues including:

A. Your financial requirements (wants and needs).
B. What the market will bear (range of pay for this job in this marketplace).

”A’ should not be too hard; you just need to do your budgeting. Never go into an interview without some kind of concept of what you want to make, need to make, and how realistic that amount is for your market and level. For instance, you should not be interviewing for a receptionist position in a small office in Florida if your salary requirement is $22.00 an hour. The most you could reasonably expect to make in this position is probably $9.00, and that could be on the high end.

A. Salary Survey and Pricing Yourself

Determining rates of pay for the position can be a little more complex, unless of course the company published a range. Some of the methods you can utilize to determine salary is:

A. Competitive research: Visit competitor’s websites to see if they post salaries.
B. Professional associations: If you are a member of a professional association for your industry, contact your local chapter. To join or gain information, visit your public library and ask the Reference Librarian for The Encyclopedia of Professional Associations.
C. Visit salary information Web sites such as http://www.salary.com/ and http://www.payscale.com/.

Once you know your needs and what the market will bear, you are more prepared to handle this question. Stick to a range. Never, never say, ‘the absolute least I’ll take is. . .’ or ‘my ideal salary would be. . .’ Trust me, you could very easily have just undersold or oversold yourself too early in the interview process!

Stick with a non-committal answer such as:
‘As I mentioned, at this point I really don’t feel I have enough information to commit to a dollar amount. However, based on my knowledge of salary ranges for this position and my personal salary requirements, I am expecting the position pays somewhere in the $40s. . .’

or

‘I’d prefer to leave this topic until we’re more certain about my appropriateness for this position. However, I am expecting that the position will be somewhere in the $60s. . .’

See, that isn’t too hard. Again, it is just a matter of doing your homework and knowing your
guidelines so that you don’t sell yourself out of the job.

Also, if an employer asks you, ‘Would you accept $XX,XXX for your salary,’ you MUST counter with, ‘Is that an offer?’ If it is not an offer, refer back to one of your earlier answers about not being sure yet, etc. You are just being tested.”

–An excerpt from Career Directors International Employment Interviewing Course