Chances are up to know you've only interviewed for service or retail industry jobs that you've gotten right on the spot. Or your mom used some pretty sketchy nepotism to secure you that receptionist gig one summer — shhh, no one has to know.
But now it's onto the real world — making connections, interviewing well and making sure you're decently presentable are all new things you'll need to consider. Getting those crucial internships or fellowships will help you secure a much coveted spot in your industry
Mommy and daddy aren't going to hold your hand forever so you'll need some help to get going — here are seven interviewing tips to aid you and your peers.
1. Cater your resume to each job description
This probably sounds super tedious but if you can write a personalized cover letter for each job, you can alter your resume a bit too. Pay attention to specific skills, qualities and experience highlighted within the job description and make sure these appear first on your resume. And if you've cut out some related experience to shorten your resume, consider swapping them in for something that might not be as essential.
2. Prepare personal examples or anecdotes of key assets
If a job description emphasises leadership and teamwork, be ready to list a couple of personal examples that showcase these traits. Tell your interviewer about that one time you took charge on a group project or how you're so organized you keep two agendas — something related and quirky will definitely obtain and keep attention.
3. Show dedication and interest
If you're not enthusiastic about the job, why would they hire you? Even if you just need to pay the rent this summer, you can't let them know that's the only thing that motivates you. Pay attention to the goals and issues of the company and relate them to your own goals — this way, your interviewer will know you're going to put your 100% in.
4. Use appropriate body language
There's nothing I hate more than a weak handshake — it's like gripping a limp chicken that also has a weak personality and shows hesitancy. Your other body language will tell stories, too — slouching in your seat gives off unprofessionalism and not making eye contact will make you seem doubtful and unconfident. Be firm and strong minded in your actions — it'll definitely reflect a more secure and stable identity.
5. Prepare your own questions
At the end of every interview, they'll definitely ask you if you have any questions for them or the company. Even if you don't — ask. Take away something you heard from the interview or something you read online and form an intelligent question — it'll show that you were paying attention and expressing concern for the position.
6. Write thank you notes
Email a thank you note as soon as you get home or finish the interview — not only will they have a physical reminder of the interview, but it's also just common courtesy. Be sure to include any notable information from the interview and summarize again why you'd be a good match for this job.
Plus, you'll have another line of communication with them in case you have any follow up questions.
7. Practice makes perfect
It might seem silly to roleplay an interview, but you'll definitely be more comfortable once you do. Utilize your college's career services and set up a mock interview with an advisor or even just grab a friend. Google some common interview questions to answer and you should be all set.
So there you go — these tips will definitely not steer you wrong, but there are definitely many more things you can do to ensure the job. Practice and experience really does make perfect so the best thing to do is to dive right in.
When you take out a loan for a car, charge something to your credit card, or get a personal line of credit, there is going to be an interest rate that applies to your loan.
A lot of different factors go into what you will be charged, including your own personal credit score. But even those with flawless credit still see a minimum charge that they can't get around. That all goes back to the Federal Funds Rate.
One thing consumers rarely realize is that all of our banks are lending money to each other every night. Banks are legally required to maintain a certain percentage of their deposits in non-interest-bearing accounts at the Federal Reserve to ensure they have enough money to cover any withdrawals that may unexpectedly come up. However, deposits can fluctuate and it's very common for some banks to exceed the requirement on certain days while some fall short. In cases like this, banks actually lend each other money to ensure they meet the minimum balance. It's a bit hard to imagine these multibillion-dollar financial institutions needing to borrow money to tide them over for a bit, but it happens every single night at the Federal Reserve. It's also a nice deal for those with balances above the reserve balance requirement to earn a bit of money with cash that would normally just be sitting there.
The Federal Reserve
The exact interest rate the banks will charge each other is a matter of negotiation between them, but the Federal Open Market Committee (FOMC) (the arm of the Federal Reserve that sets monetary policy) meets eight times a year to set a target rate. They evaluate a multitude of economic indicators including unemployment, inflation, and consumer confidence to decide the best rate to keep the country in business. The weighted average of all interest rates across these interbank loans is the effective federal funds rate.
This rate has a huge impact on the economy overall as well as your personal finances. The federal funds rate is essentially the cheapest money available to a bank and that feeds into all of the other loans they make. Banks will add a slight upcharge to the rate set by the Fed to determine what is the lowest interest that they will announce for their most creditworthy customers, also known as the prime rate. If you have a variable interest rate loan (very common with credit cards and some student loans), it's likely that the interest rate you pay is a set percentage on top of that prime rate that your lender is paying. That's why in times of low interest rates (it was set at 0% during the Great Recession), a lot of borrowers should go for fixed interest rate loans that won't increase. However, if the federal funds rate was relatively high (it went up to 20% in the early 1980's), a variable interest rate loan may be a better decision as you would be charged less interest should the rate drop without the need to refinance.
The federal funds rate also has a major impact on your investment portfolio. The stock market reacts very strongly to any changes in interest rates from the Federal Reserve, as a lower rate makes it cheaper for companies to borrow and reinvest while a higher rate may restrict capital and slow short-term growth. If you have a significant portion of your investments in equities, a small change in the federal funds rate can have a large impact on your net worth.
Whether you're leaving a job involuntarily, departing for something new, or just want to prepare for the unknown, it is smart to understand all your options regarding your 401k.
Frugal gifting often gets a bad reputation. However, this shopping method does not make you cheap — it makes you practical. Frugal gifts often avoid waste and overspending and can be just as meaningful (if not more so) as any other present.
With the National Retail Federation predicting each consumer this holiday season to spend upwards of $1,000 on holiday gifts amidst an economic recession —this year might be the perfect time to reconsider your spending budget. We've formulated the ultimate list of frugal gift-giving ideas to get you started.