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      in Talent Acquisition

      9 Smart Tips for Jobseekers to Identify & Avoid Job Scams in 2023

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      With layoffs on the rise, job scammers are keen on taking advantage of a crowded market. As a jobseeker, it is important to be aware of job scams and how to protect yourself from falling victim to them. Often, scammers are seeking money, personal information, or free labor. 

      Don’t let the job search become more overwhelming than it already might be. Use these tips to spot job scams and protect yourself during your search for a legitimate new role. 

      1. Do your research 

      Before applying for any job, research the company thoroughly. Check their website, social media presence, and online reviews to verify their legitimacy. Glassdoor is a popular resource for checking out company reviews and getting the inside scoop on employers. If the company has a poor online presence or lacks information about their products or services, consider it a red flag.

      2. Watch out for job postings with vague descriptions

      Legitimate companies usually provide a detailed job description, including the required qualifications and responsibilities. If the job posting or ad doesn’t provide specific details about the job responsibilities, qualifications, or compensation, it might signal a scam. Real postings should have clear and concise descriptions of what the job entails and the qualifications required.

      3. Be cautious of unsolicited job offers

      If you receive a job offer without having applied for a job, chances are you are dealing with a scam. While recruiters may reach out to notify you about job opportunities, legit companies do not send out unsolicited job offers to random people. This is another point at which you should do some research. Look into the individual’s LinkedIn profile and be careful before clicking any links they share with you.

      4. Never pay for a job

      If a job requires you to pay a fee for training, equipment, or any other reason, you have a scam on your hands. Employers should be paying you. Companies never require jobseekers to make upfront payments. 

      Related: Expert Tips: How to Manage Your Finances While You Job Hunt 

      5. Be wary of high-paying job offers

      If a job offer seems too good to be true, it probably is. Be cautious of job offers that promise high pay for minimal work or require little to no experience.

      Related: Try Hired’s salary calculator to see how companies value your experience.

      6. Verify the job offer

      Before accepting a job offer, verify it with the company directly. Scammers often use fake company names and email addresses to impersonate legitimate companies.

      7. Protect your personal information

      Do not provide your personal information, such as your social security number or bank account information, until you have verified the legitimacy of the company and the job offer. Employers should only ask for this information after you’ve been hired. 

      A note on background checks 

      Typically, any part-time, full-time, or IC employee, regardless of department, seniority, or employment status, will complete a background check. 

      Expect to complete once an offer is in hand. More often than not, you’ll find a sentence in the offer letter stating, “Please understand that your offer of employment is contingent upon the successful completion of a background check.”

      Companies often use third-party services for their background checks like Checkr, Trusted Employees, GoodHire, and ShareAble.

      Background checks usually cover these areas: 

      County Criminal Search (Current)

      National Criminal Search (Standard)

      Sex Offender Search

      SSN Trace

      Global Watchlist Search

      The timeframe of background checks may vary by company, with some looking for current data and others looking into the past 5+ years.

      Sometimes companies will also run a credit check. This is for a few different reasons. According to NerdWallet, these checks are more likely if your role involves security clearance or access to confidential customer data, company information, or money. They don’t see your credit score, but a high-level version of your credit report. Basically, they’re looking for any signals of financial problems providing a vulnerability to fraud or theft. 

      8. Job scams often target workers receiving benefits

      If you’re unemployed and plan to file for unemployment insurance, be careful. Do not google “unemployment benefits” to apply. Many of the top search results are fake sites, encouraging you to register your claim while taking your personal information. Instead, get the correct agency’s URL from your former employer or verify them through your state government site. 

      Even after you’re registered, be careful when it comes to communication. Many scammers send texts suggesting there’s a problem with your benefits. They might say they need additional financial information to process your claim. Or that you’re owed additional money and they need to confirm information. 

      The majority of workforce agencies communicate with you by mail or a secure portal on the website. If you get a text that appears suspicious – do not click on any links or respond. Report it for phishing, block the number, and delete it. 

      One of the classic “tells” of a phishing email has always been misspellings or poor grammar. It’s safe to assume that with ChatGPT and other AI tools, scammers of all varieties will use them to their advantage. So, be extra vigilant. 

      This is also a good time to make sure you have your voicemail set up. It’s tempting to quickly answer calls when you’re job hunting, but let it go to voicemail if you don’t recognize the number. 

      First, job scammers often like to record you saying “yes” or other things they can manipulate later. Second, it’s often better to take a beat and return the legitimate calls when you have the time to focus on your response. 

      9. Trust your instincts and inquire

      If something seems off or suspicious about a job offer or company, trust your gut and proceed with caution. Ask questions about the company, culture, role responsibilities, etc. to evaluate the opportunity. 

      While you should inquire about these aspects for any job (whether it’s a scam or not!), questions will help you weigh the legitimacy. Real employers and recruiters would be happy to share more about the company and verify its authenticity. 

      Related: 7 Interview Questions You Never Have to Answer (& How You Should Respond)

      Completing technical assessments is common for tech roles 

      When it comes to tech roles, it is common for employers to request jobseekers complete technical assessments and challenges. If you are seeking a job in tech, keep in mind what’s reasonable when it comes to these tests. We asked Hired’s Senior Internal Recruiter, Jules Grondin, for her insights. Here’s what she had to say:   

      You should be given notice ahead of time on the languages used in the tech assessment or have the option to choose the language you’re most comfortable with to complete it.

      Expect to spend about 60-75 minutes independently on a tech assessment. This is not including a follow-up interview with the hiring manager or team.

      To expedite the tech interview process, ask about the tech stack from the start and tailor your work examples accordingly. Be eager and ask questions. Teams will prioritize scheduling and next steps to candidates who actively engage and are excited about the opportunity. 

      While accuracy is important, employers often look for your thought process in solving any sort of tech assessment. It’s important to show your work and be able to speak through the steps you took.  

      Every role is different but know what might be fair to expect from potential employers as a tech candidate.

      At Hired, we partner with employers to offer jobseekers a few ways to showcase their technical skills. 

      Hired Assessments empower jobseekers on the platform to take remote technical tests to prove their skills to employers. When Hired jobseekers successfully complete an assessment, they’re rewarded with a badge that surfaces on their profile for employers to see. Fun fact: High-intent candidates who earn technical assessment badges are 3X as likely to get hired!

      Coding challenges are an opportunity for talent to take 45-minute technical tests so employers can see the coding skills they bring to the table. Jobseekers can bypass the first step in the interview process (and win some awesome prizes) if they impress recruiters.

      Related: Want to Ace Technical Interviews? A Guide to Prep Software Engineers

      The job search process can be daunting and even more so if you fall victim to job scams. Such scams complicate the search and may take both a financial and emotional toll on unsuspecting jobseekers. Follow these tips to protect yourself, evaluate opportunities, and have a smooth job search!  More

    • 125 Shares99 Views

      in Talent Acquisition

      Future-Proof Your Tech Career: How to Make Strategic Decisions (VIDEO)

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      These days, making strategic career decisions is often tied to conversations about “quiet quitting.” This term was coined in 2022 due to a mix of:

      Unclear expectations

      Few growth opportunities

      Disconnects between a company and the employee’s needs

      Quiet quitting transformed jobseekers’ way of thinking, with most centering the job search around their needs, goals, and values. 

      But what happens when jobseekers find companies they align with? They stay longer and are generally happier. Studies show retention is highest when employers invest in long-term learning and growth opportunities.

      Watch this on-demand webinar to hear experts from the Get Hired Summit discuss how jobseekers can strategize to future-proof their careers in tech. You’ll hear from:

      Related: Hired’s 2022 List: Top Employers Winning Tech Talent  

      Read an excerpt of the conversation here and scroll down to access the full webinar. 

      Amid the uncertainty, what are you seeing in the market right now? What advice would you give those in entry-level or mid-career positions in tech?

      Adam

      There definitely has been a shift in the last six months or so. We’re seeing conditions start to change in the market. I’m seeing that it’s still quite competitive for… people with 5+ years of experience. Those people are still in very high demand and they still have competitive offers from a variety of companies. Where it’s getting a lot harder is for the entry-level, junior candidates — people with 1-2 years of experience. 

      We’ve had the same role open at different times over the last few years. A year ago we would have seen maybe a handful of applicants come in. Recently, we had 1,500 applicants come in within the first few weeks.

      The advice I would give to someone just starting out is to just build things. Do what you can to optimize for learning and practice your craft. Even if it’s something you build, get it up in GitHub, GitLab, or wherever you host your code. Practice and build it. Maybe you’ll throw it away but you’ll learn something along the way. 

      Related: Hired Releases 2023 State of Software Engineers Report

      I highly value the people who want to show their commitment to practicing their craft and showing they enjoy it and like building things. That’s what I want to have a conversation about in the interview process. I want to learn why they were excited about it, why they built it, and what they learned along the way. That goes such a long way.

      Matt

      Definitely try new things and take some risks early in your career. The world is your oyster. There’s no time like the present to jump in and swim. You’re going to try a lot of things and you’re going to fail. You’re going to find some things you don’t like but you’re also going to find something you do like — something you’re really excited about. That’s what you want to run toward. 

      Think of your career as this marathon that will be many years of your life. Do you want to spend it doing something… you don’t love? Find what you can be really passionate and excited about. There will be hard days and hard projects but you should have more positive experiences than not. Implicit in that is to learn from those experiences.

      Kelly

      I speak to a lot of candidates in my career. Some of them have just finished college and have known exactly what they wanted to do their whole life. I speak to other people who had multiple careers. They’re in their thirties or forties and just starting bootcamp. They’re excited and passionate. Trying as many different careers until you find something you’re really passionate about is important. It’s never too late to start something new!

      Related: Partner Spotlight: Coding Bootcamps & Non-Traditional Education for Tech Talent

      Watch the full panel discussion to learn:  More

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      in Career Hacks

      Capital One Recruiters’ 5 Resume Tips for Students

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      It’s time to boil down your college experience into a one-page document that sells who you are to a stranger. Where do you list your major? How do you summarize your invigorating internship or great part-time job? What kind of file should my resume be?

      We know it can be intimidating putting together your resume. Thankfully, Nyla Walker and Olutoyin Asubiojo, recruiters for our Students & Grads programs, are here to help. Check out their answers to five common resume questions that will help you build a career with real impact.

      Q: Should I make my resume one page?

      Nyla: Yes. Recruiters only look at resumes for about six seconds, so we need to find your information quickly. You’ll eventually get to a point in your career where you can have a longer resume but stick to one page while you’re a student or recent grad.

      Q: How should I organize my resume?

      Olutoyin: Put your school, major and graduation date at the top of your resume so we can figure out which of our programs best match your skills and start date. You can also add relevant coursework, research and academic honors.

      Your jobs, internships and leadership roles should come next—in chronological order—giving us a glimpse at your relevant experience. Finally, you can have a separate section toward the bottom of your resume for extracurriculars like sports, volunteering and hobbies. 

      Q: How do I describe my experiences?

      Nyla: Use vivid descriptions, ranges or scales that show off your achievements, contributions and key results. Go deeper than listing a job description. Share how you improved parts of the company you worked for, and make connections between the job you want and the job you have. 

      If you’re a cashier, tell us you’re a mathematician extraordinaire and share how you can solve problems quickly. Maybe you worked in retail and organized a sales event. That’s project management. You’ll find ways to tweak your resume for each opportunity you’re applying for.

      Q: How should I format my resume?

      Olutoyin: Save it as a PDF. This guarantees your resume format will look the same on different computers.

      Q: Where can I get help preparing my resume and application?

      Olutoyin: Visit our events page for information on workshops about resume building, explaining your career journey, interview preparation and more.  More

    • 188 Shares139 Views

      in Talent Acquisition

      How to Create a Strong Personal Brand: The Key to Beginning a Networking Relationship (VIDEO)

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      A strong brand is not only relevant for businesses. It’s important for individuals too, especially those navigating the job search. A strong personal brand that speaks to your skills, values, and expertise is crucial for networking and your overall career. 

      It’s your identity. What should people think about when they hear your name during conversations or in the media? What populates when hiring managers or recruiters search for you online? 

      Watch this on-demand webinar to hear experts from Get Hired: Future-Proof Your Career in Tech discuss what it takes to make your personal online brand effective and how it can lead to a new career and networking opportunities.

      You’ll hear from:

      Revenue & Product Marketing Manager, Multiply, Lee Brooks

      Senior Platform Engineer, RVU, Suraj Narwade 

      Lead Talent Acquisition, GTM, International, Sonatype, Heidi King-Underwood

      Founder & CEO, Hustle Crew, Abadesi Osunsade

      Read an excerpt of the conversation here and scroll down to access the full webinar. 

      When it comes to seeking talent, what do you want to learn about someone from their personal brand?

      Suraj 

      When it comes to hiring someone from a personal brand perspective, the first thing to call out here is that you obviously see a resume. But I think in today’s world, LinkedIn, Twitter, YouTube, etc. act as a resume together. From a personal brand perspective, I will look at how they are presenting themselves and how they are showcasing their knowledge on any of the platforms. 

      Lee 

      For me, one of the most important things is: Are they fit for the role I’m hiring for? Does their personal brand give me confidence they have expertise in the areas I’m recruiting for? Sometimes it’s easy to tell from someone’s personal brand. Sometimes it’s more difficult, but if I was looking for someone who was good at creating content or social media, I hope I’d be able to get that from their online profile. 

      Another one that’s really important to me is cultural fit. How would someone’s personality, values, and work style fit? At Multiply, we’re all remote workers. It’s quite important that you have someone who can fit into that culture and thrive. 

      The third one is passion and drive. Are they enthusiastic when they’re talking online? This leads to culture a little bit but do they really show passion and drive for their work? I think you can tell through the content, achievements, and overall approach to their career.

      Heidi 

      The cheat is we are bundle searching. We’re looking for keywords. Make your LinkedIn profile as full as possible, like you would a CV… Talk about everything you were doing and everything you’re looking to do. 

      On LinkedIn these days, you can actually put how to pronounce your name. Make things as easy as possible for the recruiter. What are your pronouns? Let’s make sure I don’t insult you by presuming… 

      Talk about the tech stack you’re utilizing. If you present yourself on a third-party site, put the link there. Make it available so I can actually forward it to my hiring teams. I might send over that link and say, ‘What do you think about what they’re putting out or their content?’ It shows… you’re using your own recreational time to highlight you’re really passionate about this. Include stand-out elements like volunteering… If you have certain skills or have done a workshop on LinkedIn learning around diversity and inclusion, that goes with cultural fit.

      Related: Code Your Career: Staying Competitive in the Developer Job Market (VIDEO)

      It shows passion and drive around the fact that you’ve gone off and taken on that skill and you recognize it as a skill. There are so many different elements but the more words you put on your professional site, CV, and personal sites, [you increase chances that] we will find that by doing boolean searching. The more content you have and the more authentic you are about yourself, the easier it will be for me to find you. Put your contact information out there too if you want to be contacted. That’s really important.

      Watch the full collaborative panel discussion to learn:  More

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      in Career Hacks

      5 Things to Avoid in Your First Job or Internship

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      While there is a lot of excitement that comes with your first job or internship, there can also be a level of uncertainty that can make you nervous about the upcoming milestone. Given that these are first-time experiences for a lot of people, it is natural not to know exactly what to do and what not to do in these new professional settings.

      At WayUp, we help thousands of young professionals land their first job so we are no strangers to the missteps and errors made during these early days. To help make sure you don’t make the same mistakes some of us did, we interviewed a few WayUp and Yello employees to highlight some things to avoid doing in your first job or internship.

      [embedded content]

      Cramming Doesn’t Cut It

      Something many of you will learn going into your first job or internship is that the habits that worked in college don’t always work in the professional world. One particular habit that doesn’t cut it anymore, is cramming. 

      While a college course often only lasts for a couple of months, a job will hopefully go on for much longer than that. This being the case, it becomes even more important to take the necessary time needed to complete your work. If not, you might end up in a nightmare situation like Jimmy did. 

      One way to avoid this is by setting completion goals for yourself. Instead of having one deadline, have multiple, with each one coordinating to a certain percentage of your upcoming task.

      Don’t Take on Too Much Work

      Another important thing to keep in mind is not to take on too much work. Although you may be eager to show your new employer how much you’re capable of doing, keep in mind that your responsibilities may take some time to get comfortable with.

      While it can sometimes be advantageous to overachieve in your work, it is wise not to aim too high when you’re just starting a new job. In the aforementioned situation, Carter tried to take on too much and his work ended up suffering for it in the form of sore arms, likely impacting future shifts, and a messy uniform which most likely made him seem unprofessional. 

      Instead of biting off more than you can chew, start observing what other people are doing and maybe take the time to ask some more senior members how they manage time. This way, you can start grasping and comprehending what it takes to get more done in your position.

      Stay In Your Lane

      This next hazard to avoid is very specific and has to do with the interview process. Applications and interviews can be incredibly stressful with lots of anticipation. However, you never want that stress and anxiety to lead what this person did

      In this situation, this individual likely came off as both uninformed and probably a little bothersome. Not only did they make themselves look bad, but unfortunately, they also brought Luis down with them! 

      As Luis mentioned, the best way to find updates about your application is to go through your HR recruiter or the hiring manager for the role. Check out this blog to find more great ways to follow up after an interview!

      Don’t Ignore Your Sleep

      When you’re starting your first internship or job, you’re likely going to have to get used to a new schedule. This means that you’re going to have to start valuing your sleep a lot more and getting a more refined schedule. If not, you might end up falling asleep in a meeting like Jess did during her first big internship in NYC.

      =

      This incident is nothing short of a horror story and clearly has remained a lesson with Jess throughout her professional life. At times, it can be very hard to stick to a tight sleeping schedule, especially if you have other things going on in your life like school or family obligations. 

      Our recommendation to you is to rid yourself of the unnecessary things that consume your time. That means no more back-to-back Netflix episodes, no post-dinner espressos, and definitely no scrolling endlessly on social media when you’re in bed!

      Don’t Be Afraid To Ask Questions

      Our last piece of advice when it comes to things to avoid in your first job or internship is something that you should keep in mind throughout the entirety of your professional career and not just when you’re first starting out. While some situations vary, asking questions will always be beneficial – especially when you’re just starting to familiarize yourself with a new role.

      The intern in this situation was likely feeling pressure not to come off as needy or uninformed. Instead of clarifying what she was supposed to do and the deliverable that was required, she went ahead with what she thought was expected and ended up making more work for herself in the end. 

      As you make your way through your first professional experience, there very well might be mistakes you make that are specific and unique. The most important thing to keep in mind is not to let yourself get discouraged by those shortcomings and instead make it a learning experience that you improve from.

      For more career insights and professional development tips, make sure you keep up with the WayUp blog! More

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      in Career Hacks

      The Ideal Side Hustle You Can Do Where You Want, When You Want

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      Over the past few years, the work-from-home industry has undergone incredible growth with numerous companies shifting to partly or fully remote operations. With this change, a lot of opportunities have opened up for college students looking for part-time jobs and individuals looking for side hustles. However, the rise of all these opportunities has also led to a crowded job market that has left job seekers directionless looking for the right fit.

      As a company that helps thousands of young professionals find jobs, we’ve been able to identify the makings of great remote job opportunities. During our search, we came across Appen, a machine intelligence company, and its Yukon Raters program.

      As a Search Engine Evaluator within Appen’s Yukon Raters program, you are responsible for rating the quality of web pages and the relevance of search results. Undertaking any number of tasks such as rating automated voices, determining what topics are central and secondary to what a given web page is about, and more, being a Yukon Rater allows you to work at any time and from anywhere you have a computer with internet access

      Recently, we spoke with a few former Yukon Raters who were recently promoted within the company to Quality Analysts. In our conversations with them, we learned that the flexibility, the engaging material, the impact of their work, and their ability to grow professionally at the company all contributed to Yukon Raters being the perfect part-time, work-from-home job.

      Set Your Own Schedule

      As a college student or professional looking for a part-time gig, being able to set your own schedule is a very rare, but sought-after feature. At Appen, you are able to work at any time of day on any day of the week! The work is always there so you can log in and log off when you choose.

      While there is a minimum amount of hours you must work, you are still able to complete tasks on your own schedule.

      There’s so much that opened up for me because the work is literally there 24 hours a day, 7 days a week. I was able to take a last-minute trip in 2017 to Japan because the schedule was so flexible. Another instance was when my mother had some health problems and I was able to travel in order to provide care for my family without missing work. I have worked in hospitals, restaurants, and even in a car. For me, it’s just allowed me to really do what I want while earning a living.
      Laura James, Quality Analyst*

      Chelsea Mitchell, another long-time Yukon Rater turned Quality Analyst, said the flexibility of her schedule allowed her to pursue another job at the same time.

      The hours were very flexible. You could work as much as you want as long as you don’t go over a certain amount of hours each week. You could even work in the middle of the night from 1:00 AM to 3:00 AM if you wanted. It was great because I was able to have my other job with the set schedule and then just work around that. I could work on the weekends, I could work three days a week, I could work five days a week, just as long as I met the minimum and didn’t go over the maximum.
      Chelsea Mitchell, Quality Analyst

      The ability to manage your own time as a Yukon Rater gives people the freedom to pursue other goals in life, both professional and personal.

      Learn About Interesting Stuff

      Another thing that makes the Yukon Rater position so sought after is the fact that the material you’re looking into is engaging and oftentimes never the same. Due to the nature of the job, having to examine different websites and different types of content, you are exposed to a wide expanse of information. This keeps the job fresh and new!

      I think it’s a job where it’s really difficult to get bored. We’re researching different types of information and content that you get to learn about through the process of rating. You get to learn about all different kinds of topics whether it’s cultural things, current events, or cool science stuff. So I think that that helps to keep it really interesting.
      Elizabeth Parker, Quality Analyst*

      For Elizabeth, she was really interested in politics. So for her, getting paid to read about topics that she finds interesting has been more than ideal!

      It wasn’t really a boring job at all and I was always learning something. There was a lot of diversity in the tasks that we would get in our queues every day. You never kind of knew what you’re gonna be working on so it was really cool in that regard.
      Susan Garret, Quality Analyst*

      While the work the Yukon Raters were doing was enjoyable and engaging, it was just as much impactful to the digital world and the billions of users who occupy it.

      You’re Making the Digital World a Better Place

      The main goal of the Yukon Rater is to make searching the web a better experience. While this has to do with assessing the accuracy and relativity of web pages and search results, it also has to do with making sure no offensive or harmful material is present. 

      For example, this might have to do with a Yukon Rater flagging a children’s YouTube video because it has inappropriate content in it or a rater flagging a blog for containing offensive language. 

      One responsibility of ours has to do with offensive-type tasks. One of the big things was trying to weed out upsetting or offensive videos on YouTube. We would also examine videos and pages to make sure there was no porn or racist material which is really important. It’s a rewarding job because I did think we were making a difference. Everyone wants to have a pleasant internet browsing experience and we are helping facilitate that.
      Laura James, Quality Analyst*

      The Internet is a place full of endless information and opportunity, but it also has some shady and dark places. Luckily, there are people like Laura and the rest of the Yukon Raters keeping the website clean and free of offensive material.

      We’re definitely helping to make search a better experience for users and that’s something to take a lot of pride in. Everybody uses search, so it’s exciting to be a part of what’s making that better.
      Susan Garret, Quality Analyst*

      Ability to Grow Within the Company

      During your work as a Yukon Rater, you get the opportunity to grow your skills in a number of ways. Whether it’s research skills, data and analytics muscles, communication abilities, or general knowledge, being a Yukon Rater is just as good for your resume as it is for conversation at a dinner party.

      However, Appen and their Yukon Raters program also help you grow your professional career as well. All of the Appen employees we spoke with were former Yukon Raters that are now full-time with Appen working as Quality Analysts who, in addition to other job functions, oversee the raters.

      While Appen wants their employees to enjoy the liberties of their incredibly flexible and lucrative Yukon Raters job, they also want to encourage and enable employees to grow within the company. While Raters are invited to become Quality Analysts, they are also encouraged to reach out to management if interested in the position. More often than not, management will give you the tools you need to make it to that level!

      So if you’re looking for a part-time, work-from-home job that allows you to work when you want, learn about interesting topics, make an impact on the world, and grow yourself professionally, be sure to check out Appen and their Yukon Raters program.

      Start browsing open roles at Appen today!

      *Names of employees have been changed* More

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      in Talent Acquisition

      Expert Tips: How to Manage Your Finances While You Job Hunt

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      According to a study, 63% of workers live paycheck to paycheck, so how do you manage finances during a job hunt? There’s no doubt an extended job search strains even the most carefully managed finances. However, with extra planning and expert advice, you can control your financial situation, stay motivated during your job search, and set yourself up for success.

      Managing finances is always challenging, even for those in the best financial situation. But it can be incredibly challenging for unemployed people looking for a new job. During a job search, you must have a plan to help you stay on track financially.

      Without a steady income, it’s difficult to pay bills, save up money for future use, and maintain your quality of life. However, with careful management of your finances while job hunting, you will be able to cope better with all the financial challenges that come with this transition period.

      The importance of managing your finances while job hunting

      Keep reading for some of the various reasons why it is crucial to manage your finances while you search for a job. 

      Reduce financial stress

      Being between jobs is a challenging and uncertain time, and it can come with a lot of stress, especially financially. To avoid finding yourself stuck in a tight financial spot, you must be careful with your spending. By managing your finances carefully, you entirely focus on your job search and avoid the stress and distraction of bad financial management.

      Sets you up for future success

      In addition to helping you steer clear of financial stress, managing your finances during a job sets you up for success once you finally land a new job. If you cope with saving money and paying down debt while you’re between jobs, you’ll be in a much better financial position when you start your new job. This gives you the freedom to focus on your work rather than worrying about your financial situation.

      Builds good financial habits

      Managing your finances during a job hunt will help you develop good financial habits that will undoubtedly serve you well in the long run. By learning to live within your means and make intelligent financial decisions, you’ll be better prepared to handle future financial challenges.

      Related: Recently Laid Off? A Jobseeker’s Guide to Bounce Back Better Than Ever

      Expert tips for managing your finances while you job hunt

      While managing your finances while searching for a job can be challenging, achieving it is not impossible. 

      We’re sharing the most effective tips and tricks to manage your finances in the midst of a job hunt a lot easier.

      1. Understand your current financial situation

      The first and most crucial step in managing your finances while on your job hunt is understanding your current financial situation. By seeing where you stand financially, you will know how much you have available to spend, how much you can afford to save, and what bills and other financial obligations you need to sort.

      Jake Hill, Founder of DebtHammer, adds, “Understanding your current financial situation can help you identify any financial problems or challenges you may be facing. For example, if you have a lot of credit card debt, you may need to come up with a plan to pay it off before it becomes a bigger problem.”

      Overall, understanding your current financial situation is one of the most important steps to take toward managing your finances effectively while job hunting. It helps you make informed decisions about your money and give you a sense of control over your financial situation, which is especially important during a time of uncertainty.

      2. Create and stick to a budget to manage finances during a job hunt

      After conducting a detailed analysis of your finances, the next step is to use the information gathered to create a firm but realistic budget. A budget is an organized and detailed plan showing how you will allocate your income to meet all your financial obligations.

      If you’ve taken the first step in creating your budget, that’s great! But the hard work doesn’t end there. It would be best if you were intentional about sticking to the budget. Of course, sticking with a budget is also challenging, and it is only possible with the right amount of financial discipline.

      Here are a few ways sticking with a budget makes it easier for you to manage your finances while you job hunt.

      It helps you prioritize your expenses

      A budget allows you to see exactly where your money is going and helps you prioritize your spending. This is especially important when job hunting, as you may need to cut back on non-essential expenses to have enough money to cover your basic needs.

      Increases your financial stability

      Even when you are not receiving a steady income, you still need to maintain a certain level of financial stability. By creating a budget, you better understand your financial situation and take control of your spending. 

      Improves your financial planning

      During periods of uncertainty between jobs, you must plan for the future by setting realistic financial goals and tracking your progress toward achieving them. Creating a budget helps you achieve this and is a game changer if you are trying to save for a down payment on a house or pay off debt. 

      If you are determined to manage your finances carefully while searching for a job, creating a budget and sticking to it is not an option — it’s a must! 

      3. Cut unnecessary expenses to manage finances during a job hunt

      While job hunting, you must narrow down on unnecessary expenses and cut your coat according to your cloth. By cutting unnecessary expenses, you reduce the amount of money you are living on and ensure you are only spending money on things most important to you.

      Here are a few ways to cut unnecessary expenses:

      Look for ways to save on fixed expenses

      Can you negotiate a lower rate on your rent or find a cheaper apartment? Can you switch to a cheaper phone or internet plan? Find ways to reduce your fixed expenses to save money for other things.

      Cut back on variable expenses

      Think about unnecessary things you spend money on. Do you need the expensive cable package, or can you switch to a streaming service and save some money? Can you cut back on eating out or shopping for non-essential items? Every little bit helps.

      4. Draw up a savings plan

      Everyone needs a savings plan regardless of their financial situation. However, when you are between jobs, a strategic savings plan becomes all the more critical. Drawing up a savings plan helps you plan for the future and gives you a financial cushion to fall back on.

      Shawn Plummer, CEO of the Annuity Expert, states, “A savings plan is a roadmap that outlines how you will save your money over a certain period of time. And it is a valuable tool for managing finances while job hunting. Building a habit of saving won’t only help you get through those difficult times when you are between jobs, it will also set you up for life.” 

      The steps below will give you a detailed guide on how to create an effective savings plan.

      Set a goal

      Before drawing up a savings plan, you need to have a clear goal in mind, as this will help you stay motivated and focused on your savings plan. Answering the following questions will help you set an actionable goal: What do you want to save for? Do you want to build an emergency fund, save for a down payment on a house, or have some extra money set aside for unexpected expenses? 

      Take a look at your budget

      You need to look at the budget you created to see how much money you have available to go toward your savings.

      Choose a savings plan 

      The next step is to choose a savings plan, and there are various types of savings plans at your disposal, including traditional savings accounts, money market accounts, and certificates of deposit. Consider the interest rate, fees, (if any), and liquidity associated with each option to choose the right one for you.

      Automate your savings

      To make it easier to stick to your savings plan, it’s a great idea to set up automatic transfers from your checking account to your savings account. That way, you won’t have to go through the stress of manually transferring the money each month.

      Monitor your progress

      The final step in drawing up a working savings plan is to monitor your progress and adjust your savings plan as needed. If you save more than you originally planned, you can consider increasing your savings rate or adjusting your goal. But If you are struggling to save as much as you would like, think about finding ways to cut back on your expenses or increase your income.

      5. Take on part-time work or freelance gigs

      It’s a great idea to take advantage of side hustles or freelance work to rake in some extra income. If you have any skill you’ve buried, it’s time for you to dig it back up and put it to good use.

      Getting busy with part-time work or freelance gigs can provide you with a source of income while you are not working full-time. That may reduce your financial burden and give you the necessary resources to continue your job search.

      There are many reasons why you should consider part-time work or freelance gigs while you are between jobs, including:

      Flexibility

      Part-time work and freelance gigs offer great flexibility in terms of scheduling. This availability might be helpful to schedule interviews when searching for a full-time job.

      Networking opportunities

      Up to 85% of jobs are secured through networking. And taking on part-time work or freelance gigs can expose you to immense networking opportunities. You never know who you might meet or what connections could help you in your job search.

      Skills development

      Another great benefit of taking on part-time work or freelance gigs is developing new skills to add to your resume. Thus, making you more competitive in the job market and increasing your chances of finding a full-time position.

      6. Manage your credit responsibly

      Many people need to learn how much their credit report and score impact their financial lives. 

      According to Mark Pierce, CEO of Cloud Peak Law Group, “Your credit report is a record of your credit history and includes information about your credit accounts, payments, and any debts you may have. It’s a good idea to check your credit report regularly. Check there are no errors and look for any fraudulent activity.”

      Managing credit responsibly makes it easier to manage your finances during job hunting.

      A good credit score makes it easier for you to get approved for loans, credit cards, and other financial products while also helping you to secure lower interest rates. It’s also a factor used by some companies to determine your costs for things like insurance premiums or by landlords to forecast whether you’ll be a good renter.

      Here are some of the most effective credit management tips.

      Always pay your bills on time

      Late payments are bad for your credit score. Be sure to be prompt with your bills, including credit card bills, mortgage payments, and other debts.

      Keep your credit utilization low

      You must keep your credit utilization low, the amount of credit you use compared to your credit limit. By keeping your credit utilization low, you’ll maintain a good credit score. 

      7. Avoid taking on new debt

      When not working, it’s imperative to be mindful of your spending and avoid taking on new debts you may struggle to pay back. If you keep accumulating debt, you will be putting more financial stress on yourself, and it may even distract you from entirely focusing on your job search.

      According to Colin Palfrey, CMO of Crediful, “Taking on new debt while job hunting can be a slippery slope. Not only does it increase your monthly expenses and reduce your ability to save money, but it can also damage your credit score and make it more difficult to secure a job or a loan in the future. By avoiding new debt and being strategic with your money, you can increase your financial stability and set yourself up for success during your job search.”

      Here are a few ways to steer clear of the urge to take on new debt.

      Use cash or a debit card instead of a credit card

      Many people use credit cards to make purchases instead of just using cash or a debit card. Even though credit cards may be tempting, it is also essential to know they come with high-interest rates, making it hard to pay off your balance.

      By using cash or a debit card instead, you only spend your available money, which helps you avoid new debt.

      Use your savings

      Your emergency funds or savings are especially handy during the rainy days when you are job hunting. Use those funds to cover unexpected expenses instead of incurring new debt. By leveraging your stacked-up funds, you can avoid accruing interest, making it easier to manage your finances during this time.

      8. Use resources and support systems

      No doubt, being unemployed comes with a lot of financial challenges. But luckily, there are a lot of resources and support systems to make it easier to manage your finances during a job hunt. Every additional help or support counts, no matter how little.

      Below are some of the best support systems to explore.

      Unemployment benefits or government assistance programs

      Unemployment benefits and government assistance programs are helpful resources for managing finances while job hunting. These programs provide financial support to individuals who have lost their jobs or are facing financial hardship.

      State governments typically provide unemployment benefits available to individuals who have lost their jobs through no fault. To qualify for unemployment benefits, individuals must have worked for a certain period and earned a certain amount.

      Once individuals are approved for unemployment benefits, they typically receive a weekly or biweekly payment, which may help cover their living expenses while they search for a new job.

      According to Ben Michael, Practicing Lawyer and Founder of Michael & Associates, “In addition to unemployment benefits, a number of government assistance programs can help individuals manage their finances while job hunting. These programs can include food assistance programs such as SNAP (Supplemental Nutrition Assistance Program), housing assistance programs such as Section 8, and healthcare assistance programs such as Medicaid.”

      To apply for unemployment benefits or government assistance programs, individuals typically need to submit an application and provide documentation such as proof of income, residency, and employment. It’s important to note each state and program have different requirements and qualifications. It’s a good idea to check with your state’s program for details.

      Lean on support from friends and family if necessary

      Support from friends and family plays a crucial role in helping you manage your finances while searching for a job. When facing financial struggles due to being unemployed, it is crucial to have friends and family to offer financial assistance, advice on budgeting and saving, and emotional support.

      One of the most critical ways friends and family can support is by offering financial assistance. This includes lending money, giving gifts, or providing a temporary place to live. 

      Another might simply be getting together on a regular basis for a meal at their place. It’s one meal you won’t have to buy, but more importantly, it’s an opportunity to connect. Feel free to set up ground rules, such as ‘let’s talk about anything except my job search, unless I bring it up.’

      It may be a welcome respite to think about something other than job searching for a while. Think of it as preserving good mental health.

      Another way friends and family might provide support is by offering advice on budgeting and saving. Tips on creating a budget, cutting expenses, and saving money might benefit someone new to managing finances or with a limited income. There are a lot of tactics out there, what works for one person may not be as effective for you, but listen and ask questions.

      Take control to manage your finances and the job hunt

      Ultimately, managing your finances while job hunting can be a huge pain or source of stress. However, by implementing the listed tips listed, it’s easier to take control of your finances. Plus, you may learn some new strategies to manage your finances when you’re not on a job hunt. Good financial habits are worthwhile regardless of your situation.

      Hired is not a financial advisory service, please consult with the appropriate professional relevant to your specific situation. This content is for informational purposes only, you should not construe any such information or other material as legal, tax, investment, financial, or other advice. Nothing contained on our Site constitutes a solicitation, recommendation, endorsement, or offer by Hired or any third party service provider.

      All content on this site is information of a general nature and does not address the circumstances of any particular individual or entity. Nothing in the Site constitutes professional and/or financial advice, nor does any information on the Site constitute a comprehensive or complete statement of the matters discussed or the law relating thereto.

      Hired is not a fiduciary by virtue of any person’s use of or access to the Site or Content. You alone assume the sole responsibility of evaluating the merits and risks associated with the use of any information or other Content on the Site before making any decisions based on such information or other Content. In exchange for using the Site, you agree not to hold Hired, its affiliates or any third party service provider liable for any possible claim for damages arising from any decision you make based on information or other Content made available to you through the Site. More

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      in Career Hacks

      Day in The Life of an Investment Analyst at Insight Partners

      by

      The private equity and venture capital space is one of the most exciting and dynamic industries to work in. So much so, that job descriptions often fall short of capturing the incredible opportunities and fulfilling work that professionals get to do.

      This being the case, those who want to pursue a career in PE and VC don’t always have a clear picture of what it looks like. To shed some light on what a career in investing entails, we spoke with a pair of former analysts and current associates at global software investor Insight Partners about their day-to-day work. Insight Partners invests in high-growth technology, software, and Internet startup and ScaleUp companies that are driving transformative change in their industries

      Sourcing

      Analysts are responsible for identifying new investment opportunities in the form of businesses and products, or what’s known in the industry as “sourcing.” At Insight Partners, analysts look to source promising companies in a variety of software subsectors such as FinTech, HealthTech, cybersecurity and more.

      Simply put, sourcing is the active process of identifying and evaluating potential investment prospects. The actual undertaking of that can consist of anything from market research and referrals to outreach and pitching. What’s so enjoyable about this part of the job is the excitement surrounding the discovery of a new business or opportunity that no one has come across before!

      Talking to Founders

      A big part of sourcing is talking to founders and executives. As an analyst, you’re given the opportunity to speak directly with these founders as they share what oftentimes is their life work, and something they have built from the ground up. In addition, being able to speak with some of the smartest subject matter experts across a variety of industries and sectors presents analysts with a massive opportunity to grow and learn about different technologies and domains.

      Zack went on to say how thought-provoking it is to listen to someone sharing the most interesting things that they know—things that might have taken them years to find out, test, or hypothesize. For Zack, having access to that kind of information and learning more about the world are what he really loved about being an analyst. 

      Becoming a Market Expert

      Although talking to founders is a crucial aspect of being an analyst, it is just one of many levers pulled on the track to becoming a market expert. Analysts also need to be well-versed and informed on particular markets in order to evaluate the potential of a business. While much of this is done by individual research, the analysts at Insight Partners have the opportunity to learn from those around them, which makes for an incredible culture of learning and development for all.

      For Ana Hugener, the Onsite Diligence & Growth Strategy team and the broader Insight Onsite team were two of the biggest influences to her becoming a market expert. The Insight Onsite team is made up of 140+ operational experts who work side-by-side with Insight’s portfolio companies in the key functional areas of a software company, including talent, sales, marketing, product, engineering and strategy. Onsite’s different Centers of Excellence mirror these company functions.

      These Centers of Excellence allow analysts the opportunity to grow in a variety of fields while also setting themselves up for future opportunities.

      Diligence

      While becoming a market expert is crucial for sourcing, it is equally as important for conducting diligence. The end-to-end diligence for new investment opportunities can consist of talking to founders about what they are building, telling them about Insight Partners, learning about markets, and more. Whether that’s looking at the model, the customer data, the competitive landscape or talking to customers, analysts at even the most junior level are given the opportunity to get involved.

      In our conversations with Ana and Zack, one thing they made clear about diligence is how much Insight allows entry-level and junior-level employees to get involved. Right from the get-go, analysts are making lasting impacts and contributions to the firm and their portfolio companies.

      Meaningful Work with Meaningful Companies

      Whether it’s sourcing, diligence, or portfolio work, one of the most gratifying aspects of working as an analyst at Insight Partners is the opportunity to do meaningful work with companies that make a difference. 

      After meeting with these successful analysts, it became clear that the software and technology industry is an incredibly fascinating and ever-expanding industry. This being the case, there is no shortage of interesting companies to work with.

      For Zack, his favorite portfolio company that he’s worked with sells software to pharmaceutical companies to help with clinical trials. The software allows the companies to simulate parts of the clinical trial process so that they can get FDA approval for drugs faster. For Zack, this meant he was helping a company that might be responsible for getting life-saving medications and drugs to market faster. This was an incredibly fulfilling opportunity in his day-to-day work as an analyst.

      For Ana, her favorite companies to work with were startups that were early on in their growth journey. Ana claimed that these companies are so interesting to work with because of all the questions that still need to be answered and the opportunity to have a real impact on the success of a business. For Ana, growing something from these early stages is what made the analyst role so appealing for her.

      Whether it’s sourcing, talking to founders, becoming a market expert, doing diligence, or making meaningful impacts on businesses, the work of an analyst at Insight Partners is an unbounded position with infinite potential. If you’re interested in a role where you can launch your career in private equity and venture capital, check out some of Insight Partners’ open roles today. More