You are Generation Wayne. And this new electronic newsletter is all about you.
You’re young. You’re growing more confident. And every day you’re facing new challenges: a new job, or a new home. Marriage, kids. Health and fitness. Finances. Friends. Family.
Life doesn’t get any more exciting than this. That’s why you’re getting Generation Wayne, an all-new publication from the Wayne State University Alumni Association. Each issue gives you the information you want to know about work and life – in a way that’s straightforward and easy to understand.
Generation Wayne is an exclusive benefit for alumni association members under 35. You’re getting this first issue because we know you’ll like what you read – and you’ll join the alumni association to keep getting this publication (and many other member-only benefits). Click here to be sure you don’t miss the next issue!
GET TO WORK!
Resume? Check. Good suit? Check.
Feelings of nervousness and uncertainty? Check, check.
It’s normal to feel a little stressed about interviewing for a job. But with some preparation and know-how, you easily can ace the interview and be on your way to the first day on the job. Here’s how:
The day before:
• PREP YOURSELF Get your resume and suit ready, and be sure you have directions to the place you’re interviewing. Keep a list of phone numbers and contact information of past jobs in case you have to fill out a job application.
• CHECK YOURSELF Give your resume the once (and twice!) over so it’s up to date and error-free. If you’re applying for a creative position, be sure your portfolio shows your best work.
• REST YOURSELF Get to sleep early. Read more...
Right now, retirement probably seems a lifetime away. But it’s never too early to start planning for the future, and an employer-sponsored retirement plan, such as a 401(k) or 403(b), is a great way to do that.
Think about it: Even if you contribute a small amount to your retirement savings, it will continue to build interest and grow into a larger savings – one that also can serve as a cushion in times of trouble. Read more...
WHAT'S RED, WHITE AND CONSUMED ALL OVER?
Your team has landed a new account and you’ve been invited a special cocktail reception to celebrate. You’re geeked – as you should be – only you’re not sure what type of wine to drink, or even how you should taste it.
Relax. Although you won’t become an instant sommelier (that’s an expert wine professional), you can learn the basics fairly easily. Read more...
IN THE HOUSE
No doubt you’ve been hearing a lot about home buying and mortgages these days. The market’s been soft, and it’s a good time to get a great deal on a house or condo. But don’t just go out and make an offer; know what to expect first.
• PRE-APPROVE YOURSELF Go to your bank or brokerage and apply for a loan. This is called a pre-approval, and it gives you an idea of what you can afford. Shop around for rates and fees beforehand, and ask what you will have to put down and whether you’ll be expected to pay any points (points are usually 1 percent of the loan amount).
• INTRODUCE YOURSELF (to an agent, that is). If you’re not familiar with real estate, it’s a good idea to hire an agent. Family and friend referrals are a good way to find one, or you do some research online. Look for somebody who is familiar with the area where you want to buy, and trust your instincts. You’ll be spending a good deal of time with this person – looking at homes and, eventually, going through the closing process – so you’ll want to work with somebody you like and trust.
• IMMERSE YOURSELF This is the fun part. Read more...
THE DANGLING 'CAROT'
Whether you’re the bride-to-be or the groom, it pays to know the basics of engagement rings before making a purchase. Jewelers call it the four Cs. Here’s what that means:
---> CUT A well-cut diamond will reflect light better than a poorly cut diamond; this gives the diamond its brilliance or “fire.” Round brilliant is one of the most classic cuts and looks good in a solitaire (stand-alone) setting. Another popular cut is baguette (a square, step cut), which is often used as smaller stones to offset the larger diamond. Other common shapes: emerald (rectangular), princess (square) and marquis (pear).
---> COLOR Diamonds are graded using letters ranging from D (colorless) to Z (yellowish, sometimes even brownish). That doesn’t mean you must have a D to have a great diamond, though. Read more...
BABY (AND BUDGET) ON BOARD
You've just found out you're going to have a baby. Congratulations! Now start planning.
According to a survey by the U.S. Department of Agriculture, an average-income family will spend more than $9,000-$13,000 on child-related expenses -- and that's just in the first two years alone! By the time baby is 18, the average parent will have spent $125,000-$250,000.
Medical costs. A normal delivery is $5,000-$8,000, and a cesarean is about $13,000. Know in advance how much of this your health insurance will cover. Also be sure to factor in office visits, prenatal vitamins and other smaller, but important, costs.
Time-away costs. According to research by the non-profit Families and Work Institute, only 18 percent of employers offer full pay for maternity leave; about 60 percent offer partial pay. And although the Family and Medical Leave Act entitles most workers up to 12 weeks of job-protected medical leave, the average company will pay between 50 to 100 percent of your salary for six weeks. So if you want to take the full 12 weeks, you should budget in advance to cover it.
Everyday costs. Plan to spend $80-$150 a month on diapers; formula is another $200 or so a month. There's also clothes, toys, babysitting expenses and day care, which can all add up.
Stressed out? Don't be. Sit down and work out a budget to factor in these new costs. Look for what you can cut from your current spending. For instance, consider giving up cable or downgrading to a less expensive package to cover the cost for diapers. Bring your lunch to work instead of eating out to pay for formula. And in the months before baby arrives, look for ways to cut down on expenses and pay off debt so you can begin building a strong foundation for all of the joys ahead.
According to a recent Gallop Poll, Americans were most satisfied at work with their relations with co-workers, safety conditions of the work place, and the flexibility of their hours. The least satisfying factors? Their chance for promotion, health insurance benefits and retirement plan. To see the full results, click here.
SOCIAL SPOTLIGHT: Cheers!
Want to learn more about wine tasting? Join Generation Wayne on Nov. 15 at Andiamo in Dearborn. You’ll discover interesting pours and savory bites from Italy, France and Spain – all for just $40 for alumni association members and $50 for non-members. Click here to make a reservation.
Stuff to know...
---> Resume misspellings aren't the only things that can disqualify you from getting a job. Click here to see what else can cause havoc.
---> Offered a new job? You can negotiate your salary for a higher rate. Here's how.
---> Know what your interviewer is going to ask you. Click here for a list of common interview questions.
---> It's usually about who you know, so networking is one of the best ways to get a job. Join a professional organization, or come to one of our Young Alumni events. Click here for more info.
Grad degrees pay...
According to a report by the U.S. Census Bureau, graduate degrees can be worth millions over the course of a career. People with a bachelor's degree average $2.1 million over their 40-year career, while those with a master's degree can make $2.5 million. Tally in a professional degree (worth on average $4.4 million) or a doctoral degree (worth $3.4 million), and you can see why. Visit www.census.gov for more details.
Thinking of getting a graduate degree? Remember, alumni association members have their application fees waived to most programs. Click here for more details.
SCENE & HEARD:
Salsa social night
We had a blast at our annual salsa social night. Click here to visit our photo gallery to see pics from the event.
Look for more stuff about life and work in the next issue of Generation Wayne. We'll dish about marriage, mortgages and mutual funds. We'll give you the scoop on changing jobs, dealing with difficult co-workers and applying to grad school. And let us know what you'd like to see! Click here to e-mail your comments and suggestions.
Generation Wayne is just one of the many benefits of being an alumni association member. Discounts on campus and in Midtown, networking opportunities and member-only prices for social events are a few others. For a complete list, click here. Join us today! Visit www.alumni.wayne.edu/join.