Disadvantages of Employment While in College

About half of current undergraduates are working to finance school. Survey results indicate that 35% of students thought employment was a positive influence on grades because they had to manage their time better and 27% thought employment reduced their grades because of time constraints. No time for refresher courses or tutoring was reported by 37%. Taking fewer classes because of employment was reported by 20% (Purdue survey 1999). Some students, by working, receive short-term benefits at long-term costs (less salary in the long run); but others are able to obtain a college degree that gives future rewards and less debt in the future. When students work over 20 hours per week, their responsibilities for studies and classroom performance are in jeopardy.

Some students report that they wish they had taken opportunities for social development, the arts, recreation, convocations and other enrichment or general education. So do not be "penny wise but pound-foolish" i.e. meet current wants but miss opportunities, enjoyment and long-term benefits. Some students need to be reminded that studying is more important than a part-time job. The main problem is that requirements for work and study are unlimited but time resource is limited. Therefore, the solution is to be more efficient and effective. Be organized and utilize loose ends of time.

Decisions about Employment Upon Graduation

A college degree doesn't guarantee anyone a job or steady income. You must take initiative to find a job and be willing to work hard. When looking for a job, be aware that 80% of jobs are hidden. Don't just rely on the classified ads. Job fairs, alumni services, and networking with others will provide job leads as well. Search the web for places to advertise yourself such as http://www.careerbuilder.com which will lead you to other places to advertise your abilities.

Also consider how to truly judge salary. Check the cost of living for different areas across the nation. A $35,000 rural job can mean more than a $40,000 job in a large city if you consider the costs. Evaluate the cost of living in different locations. You can do this Internet or at the University Career Counseling Office. http://www.homefair.com/homefair/calc/salcalc.html. (http://www.infoplease.com/ipa/A0883960.html)

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Costs of Being Employed

To maximize return, reduce job-related expenses (transportation, childcare, clothing) and make good decisions on housing location, etc. If location increases time and travel to work, it also reduces time for household responsibilities and hobbies. Ideally, if you are a couple, live where one of you can walk or take public transportation or share the same route to work, thereby reducing the need for two vehicles.

Subtract 25% - 34% from gross income to determine the amount of income available to manage. The 25% - 34% is for taxes, fees, contributions, group insurance, costs, etc. that come out of your paycheck. Think of this not as gross income, but as your "decision income", for satisfying wants, spending, saving and sharing.

Try to save part of your income rather than expand wants. Set a percentage goal. Expand the desire to save - a want more important than some other wants.

Remember most of a raise has probably already been used up by price increases (inflation).