Feature | 02/12/2019
Research Jamboree at UVa, Department of Economics
Feature | 04/22/2020
Yooseon Hwang Awarded 2020 Arts, Humanities and Social Sciences (AHSS) Summer Research Fellowship
Yooseon Hwang has been awarded a 2020 Arts, Humanities and Social Sciences (AHSS) Summer Research Fellowship for her research on how traffic congestion and environmental amenities affect home prices. Congratulations!
Feature | 05/12/2020
Class of 2020: Homegrown Squash Player Shines in Growing Program
Feature | 01/25/2022
ECO Blog: Approaching a Virtual Career Fair
Image Courtesy of Indeed.com
Hello Economics Majors,
I found the article below on LInkedin and thank Rasmussen University for their sound advice. These are great tips for attending a virtual career fair. Use this companion dress code guide to help you prepare. The ECO recommends at least business casual attire for this week's job fair; but, even smart casual can work.
There are many fairs coming up in the next four weeks, starting off with UVA's Spring Job and Internship Fair this Thursday, 2/3. Take a moment to read the article below to help you prepare! Then open Handshake to check out this week's fair's employers.
A final tip from the ECO: If your employers of choice do not have vacancies in their one-to-one schedules, visit with your second-tier employers. Take a chance with an unknown, and let them know you were curious to learn more.
Jennifer Jones, Director
Economics Career Office
What can you expect at a virtual career fair?
Virtual career fairs are just like traditional ones, where employers gather to meet with job seekers and discuss employment opportunities. The only difference here is that it’s held virtually on an interactive platform.
Virtual career fairs feel similar to online discussion posts. After you log in, you can choose to “enter” various rooms within the virtual career fair. Each room houses a different employer participating in the career fair. When you enter a room, the employer receives a notification. At that point, a representative from the employer will greet you via a chat function.
“Employers in virtual career fairs are very engaging. They’re there because they’re eager to hire and are looking to engage with potential candidates like yourself,” says Jessica Koltz, Rasmussen University Career Service advisor. “Once they greet you, they’re looking to receive some engagement from you in return.”
Others already in the virtual room may be in the midst of a conversation, and you are welcome to chime in. Otherwise, you can also opt to chat privately with an employer, where you may ask about open positions, details of the organization and your qualifications. Employers may even want to video chat with you to get to know you better face-to-face.
In many ways, virtual career fairs mirror traditional, in-person ones. Now that you know what to expect, study up on the following tips and expert advice to make the most of this exciting opportunity.
Before the virtual career fair
Don’t “walk” into a virtual career fair with zero preparation. These are the things you’ll want to do ahead of time to set yourself up for success.
1. Register ahead of time
You’re going to want to register beforehand. Not only will this prevent any last-minute hiccups before the career fair, but it will also allow you to get a glimpse at the employers who will be participating in the fair. Which leads us to our next tip…
2. Research participating organizations
After registering, take some time to review the organizations attending the career fair. You’ll want to get an idea of some of the companies you’d like to meet with. You also don’t want to walk in unprepared—learn about the companies, and think of questions you’ll want to ask.
“At virtual career fairs, companies look for candidates who are curious and ask questions,” says John Capra, zone recruiting manager at Combined Insurance. “In order to stand out from the crowd, candidates should do their research and know about the companies and positions they are interested in.”
3. Prepare your resume
This is a no-brainer, yet it’s so important. Because you’re going to provide your resume to employers you meet with, you’re going to want it up to date and spotless for the optimal first impression.
“Don’t wait until the last minute to review your resume,” says Amy Ites, Rasmussen University senior Career Services advisor. “Have it updated, proofed and reviewed by someone else ahead of time.”
The same goes for your LinkedIn® account or a portfolio of your work samples. If the platform allows, upload your resume to your account so it is accessible and ready to hand over to any employers you meet with at the career fair.
4. Practice your pitch
How will you introduce yourself? Why are you interested in the company? What types of positions are you seeking? How is your previous work experience relevant? What do you plan on asking the representatives at the virtual career fair?
You’ll want to spend some time mulling over questions like these so you’re ready to answer them without hesitation when the time comes. Your well-thought-out responses could impress a recruiter—and even allow you to stand out from the crowd of applicants.
5. Make sure your technology is ready to go
You’ll want to make sure your device is capable of supporting you in the virtual career fair. While it is definitely preferable to have camera capabilities in case an employer would like to speak with you face-to-face, you don’t necessarily have to have a device with a camera, says Ites.
You should also try a dry run the day before the virtual career fair to ensure smooth sailing on the big day, advises Chris Brown, vice president of Human Resources at West's Unified Communications.
“Plan an IT dress rehearsal before to avoid last-minute surprises. Also, be sure to download necessary software for the fair, if need be. Install these a day early, leaving enough time to clarify any troubleshooting questions you may have.”
He also advises attendees to think long and hard about the type of device they plan to use.
“Choose your device wisely. To avoid shaky camera syndrome, use a desktop, laptop or propped-up tablet rather than a smartphone that you’ll need to hold throughout the conversation,” he says.
You may also want headphones if you cannot attend from a quiet, private location.
At the virtual career fair
Once you log in, how can you stand out from the crowd at a virtual career fair? Here are a few pieces of key advice.
6. Wear a professional outfit
You can expect to interact with employers at a virtual career fair through chat functions. However, some employers may wish to speak with you in a video call. Make the most out of this opportunity to make a connection by looking professional and presentable.
“If you have an opportunity to get face-to-face with an employer, why wouldn’t you want to be ready for that?” asks Koltz. “If you’re going to be on camera, be prepared to look professional from at least the waist up. You can wear your yoga pants, but make sure you have a button-up shirt and suit coat on top.” [The ECO is confident that wearing business casual dress for most general career fairs is fine. Here's a link to images of professional business casual attire.}
7. Attend from a distraction-free environment
In addition to your professional attire, you will also want to plan out where you’ll be attending the virtual career fair. A quiet location is ideal—and camera capabilities mean that you’ll want to ensure your location is distraction free for employers.
“Even on a small screen, potential employers can still see plenty of background. Make sure the room you’re in is clean, quiet and well lit. Your expertise should be the focal point of the conversation, not a visible pile of laundry or dirty dishes,” says Brown.
8. Be ready to put yourself out there
At virtual career fairs, it’s all the more important to exert yourself to make connections.
“It’s even easier to be a wallflower at a virtual career fair than a traditional one,” warns Koltz.
Once an employer engages you in a chat, the ball is in your court to introduce yourself and ask questions about the organization and open positions. Attendees must present themselves to employers and feel confident doing so.
9. Use clear, professional business communication
Being a virtual career fair, much of your communication will be done through written interactions in the chat function of the platform. To make a great first impression, you’ll want to demonstrate articulate written communication.
“Grammar matters, and text lingo, emoticons and any slang won’t be appropriate,” says Koltz. “Your professional written communication needs to be on its A game.”
10. Demonstrate strong body language in video chats
Just like in a traditional career fair, you’ll want to present yourself as a confident and competent job seeker. One way that employers pick up on this is through your body language. If you’re on a video chat with a recruiter at the virtual career fair, you’ll want to stay conscious of your body language.
“On camera, it’s even more critical to hold eye contact with the employers you're interacting with,” says Brown. “Speak clearly, and avoid slouching. Keep hand gestures to a minimum so you don’t distract the person you're talking to or block your face from the camera.”
11. Ask for next steps and contact information
When talking to recruiters at the career fair, don’t hesitate to be forward, and offer to send a copy of your resume. You can also ask about the next steps in the process—whether that means getting in touch with Human Resources, filling out a job application or sitting down for a formal interview.
Before parting ways with a recruiter, be sure to take down their contact information. Some employers may have it uploaded and accessible within the virtual career fair platform. If not, ask how you can stay in touch. You’ll need this information for following up after the virtual career fair.
After the virtual career fair
Don’t let your efforts go to waste by neglecting to follow up with connection after the virtual career fair.
12. Reach out the next day with a thank you
Whether it’s an email, phone call or hand-written thank-you note, be sure to reach out to the connections you made at the career fair, thanking them for their time and further expressing your interest.
Because recruiters at career fairs come in contact with many candidates and resumes, you can use this chance to refresh their memory and remind them about why you’re a promising candidate, why you’re interested in the company, and the skills and experiences you bring to the table.
You may also want to send them your resume if you haven’t already—along with your portfolio or work samples if you have any. You can also stay in touch by adding the recruiter on LinkedIn.
Get excited for the future of career fairs
Employers partake in career fairs because they’re looking for job seekers like yourself. Just because they’re held virtually doesn’t make that goal any different.
With this expert advice in hand, you’ll navigate the new waters of virtual career fairs with ease. You never know—it just might get your foot in the door of a field you’re vying for or even land you the job of your dreams.
If you’re ready to put what you’ve learned above to the test, visit the virtual career fair page for more information on our next event.
Thanks to LInkedIn and
Feature | 07/11/2018
Amzad Hossain Wins Global Infectious Disease Fellowship
Amzad Hossain was one of 4 graduate students recently awarded a GIDI iGrant by UVA's Global Infectious Diseases Institute, which supports faculty and graduate student research aimed at reducing the impact of infectious diseases around the globe. He will use the fellowship to further his research on mother and child mortality in Bangladesh. More specifically, Amzad says that he will collaborate with Moogdho Mahzab (a 4th year Economics PhD student) "to examine the effects of community-based health clinics on child health outcomes such as take-up of vaccines to prevent infectious diseases and neo-natal mortality. The government of Bangladesh in 1998 introduced a policy to establish 13,500 community clinics spread all over the country. Each community clinic (CC) was to provide various services including maternal & neonatal health care services for around 6,000 people. We will exploit the variation in the policy with regard to community clinics--its introduction, withdrawal and subsequent reintegration--to identify the effects of community clinics on health outcomes. As the search for effective ways to improve health outcome continues, our findings can be of great relevance for stakeholders and policy makers."
Feature | 09/27/2016
Professor Ed Olsen Calls for Low-Income Housing Reform
"Olsen is a professor of economics and a professor of public policy in the Frank Batten School of Leadership and Public Policy. He began studying low-income housing assistance in the 1960s, shortly before joining the UVA faculty in 1970. He was one of only two economists in the country studying housing assistance and was invited to serve on President Richard Nixon’s Housing Policy Review Task Force in the early 1970s. In the decades since that appointment, he has testified before Senate and House committees several times, provided research and expertise to policymakers and generated some of the most respected studies in his field.
On Wednesday, Olsen spoke in a subcommittee hearing discussing better ways to house vulnerable families. He highlighted the benefits of offering rent subsidy vouchers for existing housing instead of continuing to subsidize the construction and maintenance of the subsidized housing projects that have proliferated in the U.S." (Caroline Newman)
See Professor Olsen's paper and oral testimonies:
- SenateAppropriationsSubcommittee160921OralFinal12 (.pdf)
- SenateBankingHousingUrbanAffairsSubcommittee160922OralFinal12 (.pdf)
Read more here: https://news.virginia.edu/content/senate-hearing-uva-economist-calls-low-income-housing-reform?utm_source=DailyReport&utm_medium=email&utm_campaign=news
(Photo by Dan Addison, University Communications)
Feature | 11/09/2021
International Student Job Search- 2021 Report
By: Derek Loosvelt at Firsthand
Published: Nov 07, 2021
Due to the pandemic and difficulties of obtaining student visas, international enrollment in U.S. universities saw a slight decline during the 2019-2020 academic year. That’s the bad news. The good news is international student enrollment at U.S. schools seems to be on the rise again, which means many international students will be looking for employment in 2022 and beyond. And to better understand the job-search landscape for international students, Firsthand spoke with international student career expert Marcelo Barros. Below is an excerpt of that conversation.
Firsthand: Covid is still very much a reality and continues to impact our lives in a variety of ways. What do you see happening now and next year from a hiring perspective that international students need to know about?
Barros: There’s a big difference between large firms and smaller firms. On the one hand, many large employers have actually benefited from Covid. So, we continue to see aggressive hiring of international students from established, larger firms (like the Amazons of the world) in a variety of different industries. These firms are well positioned to continue to hire new employees to fuel their growth, and in many cases, they depend on international students to fill critically important roles.
Meanwhile, also due to Covid, smaller and mid-size firms continue to find it more difficult to tap into new business opportunities. As a result, from my perspective, these firms have become increasingly reluctant to hire international students who might need H-1B visas. Part of what my company, The International Advantage, does is connect with firms that might be open to hiring international students. We have a goal to speak with a minimum of 20 new firms per week in the small/mid-size space, to gauge their hiring needs and position international students who are potential solutions for them. Lately, it’s been harder than ever for us to convince these firms to consider hiring international students.
So, should students be only targeting larger, established companies?
I’ve been recommending that international students spend 80 percent of their time targeting larger, more established firms in their field, and spend the remaining 20 percent of their time targeting smaller, up-and-coming firms where the possibility of sponsorship may exist. Due this new set of conditions we’ve been observing, we’ve adjusted our guidance to international students in terms of which firms to target, which may provide the best chance of sponsorship. By carefully adjusting the type and size of firms to target, as well as methodically building competitive profiles as job seekers who seek sponsorship, international students have a chance to explore wonderful career opportunities in the U.S. In general, it’s a job seeker’s job market out there right now, even for candidates who need sponsorship and may not possess much work experience (as is often the case with our recent college grads) but have in-demand skills that set them apart.
International students should also be asking themselves: ‘Is the field that I’m trying to break into in high demand or not?’ Students who might be targeting fields that are in high demand will likely have a better chance to obtain sponsorship from an up-and-coming, niche, smaller firm that’s poised to grow and secure lucrative contracts. For example, health care is a very high demand area that puts job seekers in the driver’s seat with a real shot of sponsorship. Job opportunities for health care professionals will continue to grow over the rest of the decade—and at a much faster clip than other occupations.
So, if you’re an international student who’s in the health care space, in theory you do have more choices in terms of which types of firms to add to your target list, compared to a student who might be targeting, say, traditional retail, which is a low growth area in terms of job opportunities and sponsorship opportunities.
How are universities currently supporting international students' job-search goals?
In general, compared to last year, we’ve seen a strong uptick in terms of international student career development support. In fact, many universities are levering International Education Week happening this month to offer additional job-search support for their international students. For example, New York University and the University at Buffalo are partnering with The International Advantage to offer a special job-search webinar for their international students during the week. No matter where you go to school, it’s important for international students to investigate what’s available in terms of job-search programming for them during International Education Week.
What do you recommend to international students who are about to graduate and don't have many, if any, job prospects?
One strategy which is highly effective is to look for an internship post-graduation—ideally paid but unpaid should be considered as well. From the employer’s perspective, hiring someone as an intern is a low risk investment, and one that doesn’t typically require any complicated immigration paper work if the international student can secure an Employment Authorization Card. From an international student perspective, it’s a solid way to get your foot in the door and show your value. This is a tried-and-tested formula that can lead to a full-time paid opportunity as long you play your cards right, the company sees the value you bring to the table, and they’re open to sponsorship, of course.
It’s also important to note that international students have a limited amount of time to stay in the U.S. after graduation without employment, so they need to be careful not to violate their immigration status. It’s critical that they stay closely in touch with their university international student office as graduation approaches.
Any final job-search tips for international students? What else can international students do to improve their chances of securing great jobs in the U.S. in their fields of study after graduation?
As F-1 visa holders, international students are often eligible to work on campus. The International Advantage is currently working with a few universities around a campaign called “get an on-campus job international student.” Essentially, we’d like international students to get excited about leveraging this great benefit of their F-1 visa status. On-campus jobs are great ways for international students to gain U.S. work experience during their studies and start acquiring the soft skills U.S. employers look for. Unlike off-campus jobs, on-campus jobs don’t need to be in one’s field of study. In general, international students can work on-campus up to 20 hours a week during the academic year, and jobs for graduate students often pay $20+ an hour. My message is simple: Apply for on-campus jobs, particularly if your ultimate goal is to stay and work in the U.S. after graduation.
How do students find out about these opportunities?
International students should visit their university international student services office to learn more about their eligibility for on-campus employment. If all our international students do is to go class (sadly that’s the case in many instances), then they’re greatly minimizing the quality of their experience in the U.S.—and perhaps also reducing their chances of securing full-time employment in the U.S., with sponsorship, after graduation.
The benefits of campus employment are obvious, ranging from being able to beef up your resume with American work experience to being able to improve your communication skills by working side by side with Americans. In my opinion, the U.S. government is very generous in terms of allowing F-1 international students to work on campus. This benefit must be fully leveraged as a way to create a path towards full-time employment in the U.S after graduation. Campus involvement is a critical aspect of the U.S. college experience. It’s something that U.S. hiring managers and recruiters tend to value when making hiring decisions.
Finally, another training program available to some international students who hold F-1 visas is the ability to work in their field of study off-campus by levering Curricular Practical Training (CPT). This program is available at some colleges and universities to currently enrolled students from certain majors. Not every university or degree program offers it, but if an international student has access to CPT, they should leverage this perk as well.
Marcelo Barros is the founder of The International Advantage, a firm specializing in providing job search training for international students who seek U.S. jobs. Barros partners with over 50 U.S. universities to help their international students get noticed and hired. Barros encourages International students who seek U.S. jobs or internships to enroll in The International Advantage Get Hired Video Course, designed to help foreign students beat visa odds and secure U.S. employment, including internships.
Feature | 08/28/2019
How to Become a Consultant: 9 Steps to Doing it Right
By: Meg Prater
What is a consultant?
A consultant is a person who's an expert in a particular field who gives professional advice to individuals and businesses in their area of expertise.
Here are some of the most common types of consultants:
- Business consultant
- Sales consultant
- Marketing consultant
- Accounting consultant
- Technology consultant
- Legal consultant
- Public relations consultant
Do you have an area of expertise to advise on? Here are nine steps to become a consultant. Follow them closely and you'll build a strong foundation for future work, repeat clients, and expanding your reach and reputation.
How to Become a Consultant
- Identify your area of expertise.
- Set goals.
- Make a website.
- Get certified.
- Choose a target market.
- Decide where you'll work.
- Network with people.
- Set your rates
- Know when to say "no."
1. Identify your area of expertise.
Be honest about where your strengths and expertise lie -- and consider strengths outside your nine-to-five focus. Maybe you have a landscaping side hustle with enough client demand to take it full time. Or perhaps you're good at closing difficult deals in the medical sales industry -- so good that your colleagues are always asking for help.
Ask yourself three questions to identify your niche:
- "Do I have a unique point of view?"
- "Do I have the experience necessary to be authoritative in this field?"
- "Is there demand for this service?"
Being a consultant requires you to be organized, self-motivated, and good at boundary setting. Before launching your website and accepting your first client, consider your ability to meet these demands. You might identify the perfect niche, but if you can't meet independent deadlines or manage a billing cycle, you might not be ready to become a consultant.
To find your consulting specialty, consider areas you excel in at work, projects you've gotten high marks on in performance reviews, or hobbies you've mastered outside the office. You should also factor in what you enjoy -- if you're doing this full-time, it needs to be an activity you're passionate about.
2. Set goals.
Setting goals helps you know what you're working towards. Do you want this to stay a nights-and-weekends project? Do you hope to turn it into a full-time business? Do you want to hire employees someday? Answer these questions and plan accordingly.
Once you've identified broad goals for your business, narrow your focus to more immediate needs. To do this, make sure your goals are SMART:
- Specific: Clearly define what you want to accomplish
- Measurable: Identify targets and milestones to track progress
- Attainable: Keep goals realistic and manageable
- Relevant: Set goals that fit with your business model
- Time-Based: Identify deadlines for your goals
Here's an example of SMART goals for a consultant who coaches sales teams to be better at cold outreach:
- Specific: I will coach SMB sales teams on how to make better calls, send higher quality emails, and follow up in an effective manner. The result will be more qualified opportunities for reps resulting in more closed business and higher revenue for the organization.
- Measurable: Success will be measured by increased client pipeline and percentage of client deals closed as well as referrals for my business.
- Attainable: I have three clients already and bring in an average of one new referral every month. I know there is demand for my service, and this cadence is manageable for my workload and operating budget right now.
- Relevant: This business model fits my skill set and allows me to benefit from my success with sales outreach as identified by myself, my coworkers, and my supervisors.
- November 15: Website goes live
- December 1: Review previous month's work and ask for at least one referral
- December 5: Send client bills for the previous month's work
- December 15: Have all coaching sessions scheduled before this date in anticipation for holiday schedules
As your consultancy grows, so will your plans. Revisit your SMART goals on a monthly or quarterly basis and adjust them as needed.
Maria Marshall, an associate professor at Purdue University, researches small and family-owned businesses. She recommends including visionary goals for your business as well. Marshall outlines four main areas of focus for visionary goals:
- Service: How can you improve customer satisfaction and retention?
- Social: How can you give back to the community through philanthropy or volunteering?
- Profit: How can you increase profits by X percent?
- Growth: How can you expand your company (i.e., new employees, more clients, office space)?
3. Make a website.
Think you can get by without a website? Think again. A recent Local Search Association report finds that 63% of consumers use websites to find or engage with businesses, and 30% of those consumers won't consider a business without a website.
Also, if you have a site, Google gives your business more authority in local rankings. Creating a Google My Business profile isn't enough. A website that's optimized with backlinks, domain authority, and views will encourage Google to display your website in relevant searches.
Don't think website creation is in your wheelhouse? Services like WordPressand Squarespace make it easy to build a website, and GoDaddy allows you to lock down a domain name.
And if you want a tool that'll help you do everything from tracking incoming leads to booking meetings and will grow with your business, try HubSpot. Your website is the first impression of your business. Invest time here and see the returns for years to come.
4. Get certified.
Are there certifications that will give you an edge? For example, if you're a consultant for medical sales professionals, consider pursuing accreditation in one of HIDA's Medical Sales programs. If your specialty is coaching teams to be better at outreach, consider getting an Inbound Sales Certification from HubSpot.
Whether software-, skills-, or subject matter-specific certifications, find out what's important in your industry and invest in expanding your knowledge base. As a consultant, it's crucial to remain cutting edge and competitive in your niche, and certifications are a concrete way to demonstrate your drive.
5. Choose a target market.
Once you've identified your niche, be clear about who your target audience is. For example, if you help startup sales teams navigate early-stage scaleup, hone in on your target market by answering these five questions:
- "Where is my target audience located?" (Will you serve local clients only? Will you accept national or regional clients? Will you exclude international clients?)
- "What are their biggest pain points?" (What has driven them to search for your help? What are their daily roadblocks to suggest? What are their scaling challenges?)
- "Who is competing for their business?" (Who are your biggest competitors and how do your services measure up? What sets you apart?)
- "Am I targeting startups themselves the individual sales managers?" (Will you reach out to businesses or network to individuals through local meetups or LinkedIn outreach?)
- "What motivates my target audience?" (What is your audience's end goal by choosing your services? What do they hope to achieve for their team and for themselves?)
Getting specific about who your customer is and what's important to them allows you to provide superior service and reach clients who are the perfect match.
6. Decide where you'll work.
You probably won't need a designated workplace while getting your consultancy off the ground. But if you're becoming a full-time consultant, it might be helpful to have an office. Before you start booking office tours, ask yourself a few questions:
- "Can I afford office space, and if so, how much can I afford?"
- "Will a workplace enhance my business or help it grow?"
- "Why do I need this space?" (i.e., do I meet with clients? Am I hiring some part-time help?)
Once you've decided that office space will truly benefit your business, consider what kind of space is right for your needs. Coworking spaces like We Work andGalvanize are staples of many urban environments.
They give you access to shared or small workspaces, as well as meeting rooms and amenities, at a lower monthly rate than traditional office spaces. They also give you another way to network and benefit from those around you.
7. Network with people.
Speaking of networking … Referrals are a crucial way to grow your business, but they aren't the only way. Unlike at a large company, you probably don't have a marketing team whose whole job it is to promote your business. Instead, selling the value of your consultancy often falls to you and you alone.
Join LinkedIn and Facebook groups your audience frequents, write and share blog posts highlighting your expertise, and attend meetups or conferences in your area. Be everywhere and talk to everyone who's a good fit for your offering. No one's going to sell you as well as you, so brush off that elevator pitch and get ready to sell yourself anything but short.
8. Set your rates.
Deciding how much you'll charge clients can be the hardest part of starting a consultancy. It's tempting to charge less than you're worth because you haven't proven your results yet.
Research what comparative consultants are charging in your area (sites likeGlassdoor.com are great for this). And decide which of these common types of consultant pricing would most fairly compensate you for the work you're doing.
How much should you charge as a consultant?
- Double/triple your current hourly wage
- Set a daily rate
- Set fees by project
- Set fees by performance
- Set fees using data from previous client work
- Set solution-based fees
Once you've decided what to charge, consider how you'll bill clients and accept payment. There are many free and fee-based platforms -- like Invoicely,Freshbooks, and Due -- that allow you to automate billing cycles, track and manage invoices and payments, and run reports on weekly, quarterly, or yearly earnings.
And don't forget to consult with an accountant during tax season. If you're not having taxes taken out of your payments, you'll need to budget for those when taxes are due. An accountant can offer guidance on how to make this less of a headache.
9. Know when to say "no."
In the beginning, it's easy to say "yes" to every client and every request. Now more than ever, you want your work to be high quality, organized, and manageable. coming in at a manageable rate.
If saying yes to a new client means your current client work will suffer, say, "I'd love to serve your needs, but with my current workload, I don't think I can give you the attention you deserve. I should have more availability next quarter. Can I reach out to you then to see if this is still a need?"
Prospective customers will appreciate your honesty, and you'll be able to maintain high-quality work at a cadence that doesn't threaten your sanity or existing client satisfaction.
It's also difficult to turn down clients that aren't a good fit. Be honest when you can't meet a prospective client's needs, and be proactive about introducing them to someone who can. They'll benefit from a better match, and your business won't lose sight of what it does best.
How to Find Consulting Clients
- Identify your ideal customer.
- Find out where they hang out online.
- Learn what motivates them.
- Develop an outreach strategy.
- Size up the competition.
- Decide what sets you apart.
- Be clear in communicating your unique value proposition.
So, how do you find clients that are a good fit? Follow these guidelines.
- Identify your ideal customer: What industry are they in? What type of services are they looking for?
- Find out where they hang out online: Which websites and social media sites are they active on?
- Learn what motivates them: What are the major pain points your potential customers face?
- Develop an outreach strategy: What are your primary tools for communicating (e.g., email, phone calls, social media)?
- Size up the competition: What are competitors offering and what are the price points?
- Decide what sets you apart: What additional value does your work add that other consultancies don't?
- Be clear in communicating your unique value proposition: How will you share this value proposition to potential clients?
Becoming a consultant is an exciting way to grow your career. Be honest about your readiness and niche, organized in your approach, and clear in defining, meeting, and addressing your goals. These nine steps are the perfect place to start. Good luck!
Feature | 11/21/2021
5 Networking Mistakes Even the Smartest Students Make
October 24, 2018
by Raquel Serrano at WayUp
Going to school isn’t just about gaining an education; it’s also about forming professional relationships that’ll help you carve the path to your dream career. From your first year in college to your last, part of your time as a student should revolve around preparing for your career and making sure to use all of the resources at your disposal. Networking is an essential and integral part of your professional development and definitely shouldn’t be taken lightly.
Even the best students make these gaffes, so let’s go ahead, and get your professional network in tip-top shape by discussing the top 5 mistakes students tend to make.
1. Thinking It’s Way Too Early to Start
A common mistake students make is believing that they need to be juniors or seniors before starting to build their professional networks, but like any relationship in life, the more time you invest into it, the stronger it becomes. As early as your freshman year (if not earlier), you should begin forming a career plan and be on the look-out for opportunities to connect with companies and professionals in your industry.
A great way to get started is by joining a professional organization at your school! Industry-minded organizations such as the ACS (American Chemical Society) and the SEA (Student Education Association) have chapters located in colleges all throughout the country. They host networking events of their own all the time, focusing on providing students of all years with valuable knowledge and connections in their fields. Some may require membership dues (as low as $10/year), but the leverage gained really pays for itself.
It is never too early to go out and gain exposure in the professional world. Show up to events, talk to everyone, be honest about where you currently are, express your interest and stay in touch. A conversation you had your freshman year might score you a job upon graduation.
2. Connecting Only With Students in the Same Major
Some of the greatest collaborations and partnerships known throughout the world began between college friends. It’s a commonly overlooked fact, but you might have a potential business partner sitting in your classroom right now. Start talking to some of your peers, and you might find that your career goals align.
Don’t just focus on connecting with students only in your major, though. Strive for compatibilities, not just similarities, so that you create a wider and more diverse network. If you’re a graphic designer with hopes of creating your own magazine and your roommate is an English major and aspiring editor, keep in touch! These are the times to form those relationships that will help carry your career forwards, so hold them close.
3. Speaking to Professors Only About Grades
Your greatest source of support and connections will sometimes come from the very individuals teaching your classes. Your professors are people who have years of experience and are more than willing to share all of that with you (otherwise they wouldn’t be teaching!).
If you have questions or would like recommendations for graduate programs or professional options, send your professors an email or talk to them after class. Set up a time during their office hours to discuss your career path; they can shed a light on any doubts or concerns you might have.
4. Keeping Circles Local
As a student, it may be tempting to keep your contacts within a few miles outside of your own home or college town, but this isn’t a wise move in the professional world. There are plenty of opportunities available to you beyond your town and state, so don’t be shy about branching out. In this age of social media and the internet, it’s easier than ever; companies located miles away are now only an email or tweet away!
Even if you aren’t contemplating relocating after college, keeping your network wide and open will lessen the risk of you missing out on a great opportunity not only within, but also beyond your own backyard.
5. Failing to Stay in Touch
Once you’ve made a connection with someone, it is essential to keep in contact with them over time, or else that connection will fade. Sending people a quick “hello” or tagging them in a relevant article with a note like “This reminds me of your work” keeps the conversation going even years after you’ve last seen each other. You don’t have to maintain in constant communication with them, but do be present and accessible.
Feel free to reach out for advice or an opinion concerning something relevant; just be sure not to ask for too much or make the conversations all about what they can do for you. Don’t worry if they don’t respond right away; recognize that they may be pretty busy, so remember to be patient. If it’s been some time since you’ve met, begin first by reminding them how you know each other, and always be sure to exercise proper social media and email etiquette in order to keep your communication professional.
So, which of these mistakes are you guilty of? The good news is, it’s never too late to fix any of them. Make the most of your life as a student and set yourself up for even greater success with strong connections and contacts. So, be bold and get that network growing!
Feature | 11/07/2016
ECO NEWSLETTER 11.6.16
Quick Job Search Tips and Just a Few Events!
Feature | 10/11/2016
ECON Alum: Emily Snow, Class of '16
1. Why did you choose to study economics?
A month into my first semester, Professor Elzinga gave a lecture in ECON 201 that changed the course of my college trajectory. The topic—rational consumer behavior—was neither inspiring nor profound, but the lesson stuck. I found myself measuring the costs of a good in terms of its next best alternative, ignoring sunk costs when I made a decision, and seeing applications of economics everywhere. Drawn to this “economic way of thinking” during my first months of school, I attended my professors’ office hours, participated in behavioral experiments in the VEcon Lab, and even went water-skiing with Professor Elzinga. As I pursued economics further in subsequent semesters, I was struck by its systematic explanations for the world around me—everything from business strategies to Congressional voting procedures to income inequality. I was fascinated by these questions and the way that economics answered them, and there was no turning back!
2. What courses/ professors have been particularly influential and why?
This question is a tough one, because there have been so many! I'm grateful to Mr. Elzinga for his wise counsel, steadfast mentorship, and the way that he constantly challenges me. His ECON 201 class first drew me to the subject, and since then I've had the pleasure of learning from him in his Antitrust seminar and through an independent study on the intersection of economic thought and Christian theology. I'm grateful to Mr. Coppock for his encouragement and natural gift for relating to students. His Public Choice seminar was incredibly interesting and stimulating, and it remains by favorite class to date. I'm grateful to Mr. Holt for his patience, kindness, and willingness to invest in my academic potential. Learning from his expertise in experimental economics has been a true privilege. And the list goes on! I'm grateful to Mr. Olsen for guiding me through my first research project, to Mr. Burton for connecting me wonderful people and opportunities in the Department, to Ms. Turner for her amazing dedication to her students' flourishing, and to many others who have invested in me.
3. What makes the economics department special?
As my previous answer demonstrates, the faculty in the economics department have made all the difference to me. They create an atmosphere in which freedom of inquiry flourishes and opportunities abound. During my time in the department, I've particularly enjoyed the opportunity to conduct research. Last year, I completed an independent study in which I used Stata to estimate the efficiency gains of housing vouchers as opposed to public housing. Additionally, I work as a Research Assistant in the VEcon Lab, exploring ways that human behavior either aligns with or deviates from economic theory. In addition to these pursuits, I've also gained immense value from the opportunity to serve as a Teaching Assistant in introductory economics courses. Teaching is a great responsibility and privilege, and helping my students grasp the discipline’s most fundamental principles reminds me of why I fell in love with economics in the first place.
4. How did you spend your summer between third and fourth year? (This language has been changed. Former question asked “How did you spend last summer?” Or, we may mention in the heading that these responses were collected while you were a student and now you are an Associate with BCG.)
I had a fantastic summer interning for BCG in their DC office. My role as a Summer Associate involved collaborating with my case team to strategically simplify the organizational structure of a large tech firm. Day to day, I spent good deal of my time building models on Excel, creating Powerpoint decks for client presentations, and performing data analysis with my team. At the most basic level, my task was to solve problems, and both the content of the work and the atmosphere of the office made my job both stimulating and sustainable. I have no doubt that the experiences the Economics Department has provided me differentiated me as a job candidate, and Jen Jones and the ECO office were enormously valuable to me as I navigated the job recruitment process. Furthermore, once I began my internship, it became abundantly clear that the critical thinking that I learn through my economics coursework would help me succeed in the Associate role. I am looking forward to returning to BCG as a full-time Associate next year.
5. What is the most interesting thing you've done in the Department?
Serving as one of the first undergraduate Teaching Assistant for introductory economics courses has been and continues to be an incredible privilege and learning opportunity. Standing in front of a classroom twice each week, I’ve learned to present economics concepts in creative ways. I’ve learned to establish credibility by coming prepared for class and by speaking with confidence. I’ve learned to establish approachability by adding lighthearted elements to my lessons and being transparent about any mistakes I make. Working one-on-one with my students, I’ve learned the joys of helping others succeed. I’ve learned to help my students work out practice problems themselves, rather than just listen to me explain them. I’ve learned to exhibit patience and encouragement in the face of my students’ frustration and disappointment, particularly after midterms.
As a returning TA this year, my goal is been to use these lessons to both improve upon my teaching and to be a leader among new undergraduate TAs. I seek to be a role model by putting my students’ needs above my own. Whether it means putting extra effort into planning interactive lessons, sacrificing time to meet outside of my office hours, or simply demonstrating to my students how much I care about their success, my role as a Teaching Assistant continues to be my most meaningful University involvement.
Feature | 01/07/2023
Tips to Attract More Recruiters on LinkedIn
Article "I'm a designer at LinkedIn. Here are 4 tips to attract more recruiters" written by Katie Jacquez for UX Collective
Understand how recruiters source candidates on LinkedIn and how to optimize your profile to improve your chances of being found
Last month nearly 60,000 employees in tech were let go (Visual Capitalist). Economic headwinds, a change in leadership (hello Twitter and Elon Musk), and pandemic-fueled hiring sprees are cited as a few of the varied drivers (Q.ai. November 2022. Waves Of Tech Layoffs — Which Tech Companies Are Cutting Their Workforce And Why? Forbes).
If you are one of the many people impacted, you’re likely looking for your next play. The good news is that companies are still hiring, it’s just a matter of identifying and landing the right position (Estrada, Sheryl. December 2022. These 10 employers are still hiring tech and finance talent like crazy. Forbes).
Your job search should include a push and pull strategy, where you actively reach out to people at companies you’re interested in, and one where recruiters and hiring managers come to you. This article will help your pull strategy; I’m going to show you how to optimize your LinkedIn profile to attract recruiters and hiring managers.
Before we dive into actionable tips, it’s important to understand how LinkedIn works.
Your LinkedIn profile is a searchable page
Your LinkedIn profile is a page, like any other page on the internet, with keywords that can be searched. When a recruiter is looking to hire a candidate, they use a tool called “Recruiter”. Recruiter basically is a search engine that combs through LinkedIn profiles. To give you an example of how it works, let’s say a recruiter is looking to hire a UX designer in New York or remote and is looking for someone with systems thinking, wireframing, and usability testing skills. Each one of these is a keyword they type into Recruiter. LinkedIn profiles with these terms will be more likely to appear at the top of the results page.
Recruiter surfaces candidates more likely to be interested in a role
It’s important to understand how recruiters matching algorithm works so you can make the most of it. Think of it as seeing the rubric for a class before starting the semester; you will then know what to do to succeed.
LinkedIn Recruiter “require[s] not just that a candidate shown must be relevant to the recruiter’s query, but also that the candidate contacted by the recruiter must show interest in the job opportunity.” (Sahin Cem Geyik, Qi Guo, Bo Hu, Cagri Ozcaglar, et al. 2018. Talent Search and Recommendation Systems at LinkedIn: Practical Challenges and Lessons Learned).
Recruiters matching algorithm uses a variety of signals to determine how likely a candidate is to be interested in switching jobs, such as turning on the ‘open to work’ feature, response rate to recruiters messages, and overall engagement on the platform.
How to optimize your LinkedIn profile
Before joining LinkedIn, I thought the experience section was the only way to attract recruiters. I’m going to walk you through small steps you can take to optimize your LinkedIn profile for visibility with recruiters with your work experience and beyond.
Name and headline
This is an underutilized portion of your profile. Rather than just stating your name and current role, you can use your headline to provide more context about you. For example, Harrison Wheeler, is a design manager at LinkedIn and the host of the Technically Speaking podcast.
People actively looking for a job can use this real estate to indicate what types of roles they’re going after. For example, Emma indicates that she’s “looking for 2023 internship”.
Use a headline that is consistent with your industry; recruiters typically are not looking for a “Design ninja”. Furthermore, be specific. “Design @ LinkedIn” could mean a variety of positions with different levels of experience, from associate, to mid-career, to management. “Senior Product Designer @ LinkedIn” is specific and will attract recruiters with open roles appropriate for your career goals.
Next is the about section. This is especially useful for career switchers who likely do not have work experience in their desired field. When I was going from marketing to UX design, I was still getting messages from recruiters for marketing roles.
The about section is where you can weave your prior work history to the new role you’re going after, highlight your strengths, and tell your story. For example, Kristine Yuen is a design manager at LinkedIn and previously worked as a consultant for Deloitte. She uses the about section to explain why her consultancy work makes her a better designer.
As a career shifter, your prior work history gives you a unique perspective. In fact, teams with diverse experiences, thinking and background perform better than homogenous teams (Beilock, Sian. 2019. How Diverse Teams Produce Better Outcomes. Forbes).
To illustrate how your non-design work can be a strength and not a hindrance, I previously worked as a marketer and strategist. Today I’m a designer at LinkedIn building products for the people and teams I used to work with. This experience helps me empathize with customers to build better advertising products.
Daniel Dinay, a hiring manager at Marqeta, says his recruiting team leans heavily on the experience filters in LinkedIn Recruiter. If a profile comes up in the search results, he may have less than a minute to look at a profile, so keep the experience section pithy and scannable. For each role, show the core responsibilities, any results or value you brought to the team, and awards or top accomplishments. If you’re a career shifter, you can tailor your prior work experience to highlight any relevant experience to the new role you’re going after. Staying at a company for several years shows loyalty and success within an organization so add any promotions to show career growth and progress. This will show up as a timeline in each role.
Christine Liao, ex-manager on the Recruiter team at LinkedIn, encourages users to add contextual skills to specific roles in the experience section; it helps a recruiter understand the recency of a skill.
In addition to adding skills in the experience section, there is a dedicated section in the profile. Skills directly surface in LinkedIn Recruiter so list any skills that align with the type of role you are seeking. If you’re not sure what to include, cross reference profiles of people with the job you want. UX designers may want to use terms such as:
- UX design
- UI design
- Product design
- Interaction design
- Systems thinking
- Wire framing
- Usability testing
Reorder your skills so the top three skills shown on your profile align with your job search. These skills will be most likely to be endorsed by colleagues which help with credibility. You can do this by hitting ‘show all skills’ and the ‘reorder’ button in the overflow drop down.
If you’re shifting careers, remove skills that are no longer relevant. For example, I removed most skills related to marketing and replaced them with UX design skills. After making this change I received more messages from recruiters for UX roles than marketing roles.
Finally, you can have up to 50 skills. Max them out — it only increases your chances of appearing in recruiters search results.
Once a recruiter has reached out, it’s time to start networking. If you’re interested, keep the lead warm; respond promptly and set up a discovery call. Even if you’re not ready to apply, you can use the opportunity to build a relationship, learn more about the role, and the company culture. At the end of the call you can ask for a referral to a designer at the company to get an insider’s point of view and see if the company and the role is the right fit.
Looking for a new role during industry wide layoffs can be discouraging. But have hope; when one door closes it creates space for another to open. Companies are always hiring and there are tools at your disposal to attract recruiters and hiring managers. Optimizing your headline, about, experience, and skills for the role you want will help you appear higher in recruiters search results, ultimately helping you find your next play.
*This article was inspired by conversations with job hunters and a deck created by and co-presented with Kristine Yuen. It was reviewed and vetted by design managers on the Recruiter (Christine Liao) and Profile team (Lisa Chen) at LinkedIn.
Feature | 08/18/2021
ECO Blog: Virtual Career Fairs
Commerce Career Day Is for All Majors! (Really it is!)
I hope your week is off to a great start! This week I want to speak with you about virtual career fairs. These are great opportunities to meet with employers online. UVA hosts several a year and this fair draws fairly large, established employers. The name here indicates that this fair is sponsored by and hosted by the Commerce School. It is their expectation that all undergraduate students will attend this fair.
When you click the link above, you will find employers such as American Express, Altria, Bessmer Trust, Capital One, Carmax, Deloitte, Inveture, Genworth, Yext, and ZS Associates. Most of these employers have established training programs and know what their hiring needs are well in advance of next spring/summer.
Employers will hold info sessions with groups, and 1:1 meetings with individual students. Later this week, I'll send a note through collab with the ECO's employer picks for this year's fair, which will be held this Friday, 9/10. Schedule at least an hour in your day to attend if you are internship or job-seeking. And if you're curious, but not ready to job search, the info sessions provide a great opportunity to hang back and listen. Please check out the three links below about approaching the fair. If you are in a full-on job search, I recommend choosing 3-5 employers that are your "must-sees" and schedule around those sessions.
- Make sure your lighting is good and your mic works in case you choose to speak.
- If possible, appear in a neat room, or use a virtual background.
- Dress neatly.
- Prepare your pitch using VMOCK (AI platform that records your pitch and scores you) and this ECO template and these tips.
- Have your resume handy to borrow talking points and possibly share with employers.
- Research the employers that are the most interesting to you and come with questions. You'll find some at the links belowl
- Be yourself (really!).
- Send a thank you after the info session of 1:1 session.
All the best,
Vault's Recommendations for Attending a Virtual Career Fair
Participating in a Virtual Fair - from Handshake
Handshake's Guide to Virtual Fair Attendance
Good Questions to Ask Employers
Better Questions to Ask Employers
Feature | 03/01/2019
Ga Young Ko Wins Tipton Snavely Award for Outstanding Summer Research
Ga Young Ko, a 3rd year PhD student, won a Tipton Snavely Award for Outstanding Summer Research (an honor shared with Joaquin Saldain). She summarizes her paper, titled The Role of Rating System and Hiring Biases in Freelance Auction Platforms, as follows: "A freelance auction platform is a website that matches buyers of services with sellers using an auction mechanism. Sellers differ in terms of their observed demographics (e.g., gender, race, etc.) and unobserved quality. Buyers on the platform may use demographic information as cues to evaluate quality. If these characteristics are correlated, then observing demographics allows buyers to make informed task-specific hiring decisions. But these characteristics may also induce intrinsic racial or gender-based hiring biases. I develop and estimate a model of a sequential first-price auction with beauty contest and endogenous entry. I use an extensive new data-set from a freelance platform. The data-set includes price offers, assignments, and seller characteristics, where machine learning techniques are employed to infer race and gender. Through various counterfactual analyses I will determine the role of information about sellers on the market outcome and also quantify the efficiency of the freelance system."
Feature | 05/17/2016
ARTICLE- THESE ARE THE BIGGEST SKILLS THAT NEW GRADUATES LACK
"Managers and employees don’t always see eye to eye. Fast Companyuncovered a wide gap in the way each group thinks about business cultureand their radically different ideas about work-life balance."-Lydia Dishman
Click here to read the rest of the article
Feature | 01/07/2018
Jennifer Doleac reviews research that finds increasing access to substance abuse and mental health treatment reduces violence and property crime
Feature | 06/05/2015
A More Efficient 'Match Day'
"This month, newly minted doctors and military cadets are leaving the University of Virginia and many other schools for assigned residency and branch assignments around the globe. These movements number in the millions, but most are directed by a simple class of “matching algorithms” – algorithms that one U.Va.-led research team wants to make more efficient and fair.
Peter Troyan, an assistant professor of economics, became interested in the match algorithm while a friend in medical school was anxiously awaiting his residency assignment. Troyan was eager to understand the equation that was driving the next steps of his friend’s life and those of many others worldwide..." (Caroline Newman)
For more on this article, click here.
Feature | 03/13/2023
The $2 Billion Question of Who You Are at Work
Employers are finding personality tests — measuring how employees think and feel — more useful than ever while navigating hybrid work. But the tests are not always up-to-date.
Article written by Emma Goldberg for The New York Times on March 5, 2023.
“Hello there, Protagonist!” read the email that landed in my inbox on a recent night. “Have you ever had the sense that you were different from others? That your drive to right unjust wrongs and seek improvement runs just a little bit deeper than most?”
I was intrigued. These questions were deeper than the improvement I happened to be seeking at that moment, related to the consistency of a chickpea stew I was cooking with my roommate, so I gladly opened the email, which contained the results of my assessment from 16personalities.com.
I had spent that day taking every personality test I could find on the internet — an alternately therapeutic and mind-numbing journey of the self. This was prompted, in fact, not by personal crisis, but rather by professional curiosity about the role of personality testing in today’s tangled-up world of work. Could describing people on paper, in the form of colors and animals and good old Myers-Briggs, be relevant to discussions about returning to the office?
Personality testing is roughly a $2 billion industry, according to Tomas Chamorro-Premuzic, a psychology professor and author of “I, Human,” who estimated the value of the largest personality testing companies. Their appeal is both magnetic and obvious: ego. But the tests have also come to be applied in practical ways in the office, helping to shape professional relationships. Some managers find them particularly useful for remote teams, because personality tests can prompt much-needed conversations about who workers are as humans, and how they like to interact.
“Covid has opened our eyes to the fact that there are different ways in which we can work,” said David Noel, senior vice president of global human resources at Scotiabank, a Toronto-based bank that uses a personality test called Plum. “Personality testing can be a part of that.”
After taking my own personality tests, I discovered that I was an E.N.F.J. (extroverted and emotional); a Blue (motivated by intimacy, a “sainted pit bull” who doesn’t easily let go of people or projects); dominated, among the four temperaments, by sanguine (creative, sociable); and, according to my 24-page CliftonStrengths report, keen on collecting information and input from people (conveniently known as reporting). Digging through these results felt like the type of fun that’s both earnest and indulgent. Like an iPhone burst of selfies fused with the self-help section of an airport bookstore.
For employers, the stakes of personality testing are higher. Managers often use them to make decisions about career development and sometimes even about hiring. Each year, some 100 million workers worldwide take psychometric tests, meaning tests designed to study personality and aptitude. The industry exploded in the late 1990s and early 2000s as the tests were computerized, Dr. Chamorro-Premuzic said.
Now, psychologists are exploring what changes need to be made to workplace personality tests — both to grapple with longstanding questions about their validity and to address the changing norms of hybrid work. It’s a moment when, managers say, the tests are more useful than ever but not always up-to-date.
At Scotiabank, which has 90,000 workers, executives decided in late 2020 to stop looking at résumés for applicants coming out of school. The campus hiring program is now focused partly on Plum results, and the new approach is bringing in more diverse candidates, the bank said, because hiring managers are looking beyond familiar credentials. The share of Scotiabank’s new employees who are Black rose to 6 percent from 1 percent, and over half its hires are women.
Acolytes of personality testing are cautious, though, about how results should be used for workplace decision-making. They should be one factor among many, advocates say, with the understanding that there’s a gap between the way people present themselves on a test and how they’ll act on any given Tuesday, or in a fight on Slack.
Critics are quick to point out that some of the tests, such as the Myers-Briggs Type Indicator, which churns out four-letter distillations of personality, are about as reliable at predicting success in a professional endeavor as sorting candidates by astrological signs or Magic 8 Balls. Investigations by the Equal Employment Opportunity Commission have uncovered bias at play in some hiring processes that overly relied on personality tests without scholarly psychological backing.
But personality testing has also gotten more rigorous in recent years. Organizational psychologists have developed assessments that are more fair and grounded in research. Some of these tests use the “Big Five” personality traits, which psychologists have found to be consistent across populations: openness, conscientiousness, extroversion, agreeableness and neuroticism.
“Human behavior is complex, people are complex, situations are complex,” said Ben Dattner, an organizational psychologist and executive coach, noting that studying personalities in all their complexity is still helpful for career development. “Psychometrics can help identify what are some potential areas where a person might need coaching or feedback, or where a person might have blind spots.”
And plenty of companies hail their benefits. Nearly one-third of the respondents to the Society for Human Resource Management’s 2017 survey of its members said they used personality tests to fill executive roles. At McKinsey & Company, some consultants do “due diligence” when staffing projects, which often means looking at the balance of introverts and extroverts on a team. There’s a running joke that the company is full of people who got E.N.T.J. on Myers-Briggs (the extroverted and organized type of person most likely to run for student council president). College fund-raising offices love the Color Code, which among other things tells you who can best work the phones (yellows).
Often, the tests aren’t a diagnosis but are more of an opening for people to talk about the softer parts of office life: their relationships. Identifying as a Blue, through the Color Code, might not feel all that relevant to quarterly sales quotas — but at least, among teammates, it can be a conversation starter.
“The biggest thing that hit me over the head was that I really care about people’s perceptions,” said Robyn Ross, the head of people and talent at Burgundy Asset Management, describing her experience taking the PrinciplesYou assessment, which revealed that she is an “inspirer.” “My natural inclination is to take care of people.”
To Ms. Ross, that result explained why it had been so hard for her to call Burgundy’s 150 employees back to the office. “Asking people to do things they don’t naturally want to do was quite tough for me,” she said. “It has been such a godsend to see it through this test.”
Caitlin MacGregor, who co-founded Plum, a research-backed testing company, attributes her initial zest for personality testing to an experiment she conducted for a previous employer. She winnowed a pool of 80 job applicants down to two: one who stood out on a résumé and one who stood out in a psychometric assessment. She hired both; her boss had said the cost of picking the wrong person was $300,000. The applicant who outperformed on the psychometric test rose to the company’s top ranks within a year and a half.
Ms. MacGregor argues that an element of equity can be built into testing, when it’s done right, because it can identify “diamonds in the rough” who have natural abilities instead of fancy degrees. This can be even more essential when interviewers aren’t meeting candidates in person.
“For a long time, people were comfortable making decisions around talent based on face-to-face interactions,” she said. “More and more companies have a distributed work force. It’s harder than ever to get to know your people.”
In a territory as fraught as personality — how people are and could be — it’s no surprise that disagreements have sprung up as the tests have spread. Psychologists argue over the validity and fairness of different assessments and, recently, whether the tests have kept pace with the changing workplace and work force. After all, a test developed a century ago might be tough to use for gauging whether an employee will feel fulfilled if she never meets her boss except on Zoom.
In remote workplaces, “it’s a different style of working, which means different characteristics will matter,” said Matt Spencer, who in 2019 started a personality testing company called Suited. “Initiative, self-direction, ability to manage one’s time, the way somebody collaborates.”
Personality testing was largely an outgrowth of World War I. The American military wanted to screen for soldiers who had “weak constitutions” and might be more susceptible to what was then called shell shock, so it created a test, the Woodworth Personal Data Sheet, with questions like: “Did you ever think you had lost your manhood?” Not long after, a Carl Jung-obsessed homemaker, Katharine Cook Briggs, and her daughter, Isabel Myers, developed their own personality inventory, despite having no psychological training, which they started distributing in 1943. Each year, more than two million people now determine their Myers-Briggs type.
Those early assessments were trying to pin down answers to an existential question: Who are you? Wallflower or life of the party? Flighty or reliable? Alternative tests have since emerged, especially ones aiming to assess what sorts of personal projects people like to do instead of the traits they possess (or think they possess). Today there are more than 2,000 kinds of personality assessments — though very few have a research base behind them, according to Brian Little, a personality testing expert and the author of “Me, Myself, and Us.”
New research-backed assessments continue to flood the market. PrinciplesYou, which Dr. Little helped create, maps people according to personality dimensions (givers, fighters, enthusiasts), which its website illustrates as archipelagos separated by waters labeled with traits like “tough” and “humble.” The test is free, and the workshops offered in workplaces cost slightly more than a thousand dollars, according to Principles, which makes PrinciplesYou.
There’s also Suited, which is designed for law firms and banks to base hiring decisions on character and not just education. It can cost from high five figures to low six figures, depending on the client’s size and needs, according to the company, adding that this cost covers recruiting services beyond just testing.
“Résumés are a better predictor of past privilege than future potential,” Mr. Spencer, chief executive of Suited, explained.
Recently, Mr. Spencer watched a law firm use a Suited assessment to upend the results of a hiring process. Two of the four employees who interviewed a job candidate didn’t want to hire her for a summer program, but she sparkled on Suited, so the firm took a chance on her. That personality test offered an unorthodox perspective on the applicant — something besides G.P.A., or whether she cracked a joke to her interviewers.
Today, there’s mounting pressure on companies to gather those perspectives on their workers, as executives wrestle with costly decisions about whether to require in-person office work or even keep office space. At the very least, personality testing can give companies the vocabulary to talk about how their workers like to socialize: whether they crave water cooler banter, or dread the holiday party.
That’s what Zack Wieder, chief executive of Principles, has witnessed as he leads personality workshops for remote companies. Many of the people he is coaching have never met their teammates in person. They’re looking to a PrinciplesYou assessment as a catalyst for intimate conversations like: Does this manager who comes across as extremely buttoned-up consider himself a sociable guy? Or why does this one employee loathe the idea of going back to the office?
The product development team at Canadian Tire used PrinciplesYou testing last year to have deeper conversations about people’s career paths.
“I shared my profile with the whole team very openly,” said Anthony Wolf, a Canadian Tire vice president. “One of the first things we had to make sure people understood is that there’s no perfect profile.”
Feature | 08/23/2017
ARTICLE - 7 THINGS TO NEVER SAY IN A JOB INTERVIEW
"It’s terrifying to know that the person you’re speaking to is weighing your every word—and could hold the power to change your future. This is why interviews can be so stressful, and why sometimes it can be hard not to blurt out the first thing that comes to mind. No matter how long you prep for the interview, it’s actual practice that gets one better at interviewing. And while there are many things you should say in a job interview, it can be harder to focus on the things not to say. We’ve got the seven things to steer clear of mentioning if you really want that job." -Kristina Rudic
Click here to read the rest of the article
Feature | 01/02/2023
IN MEMORIAM: Ben McCallum
Bennett McCallum, who was a member of the department’s faculty from 1967 to 1980 died on December 28, 2022 in Charlottesville. Ben grew up in Texas, trained as an engineer at Rice and then earned an MBA at Harvard. He studied economics at the graduate level at Rice earning his PhD in 1969. Ben joined the Departmental faculty in 1967 as a microeconomist with a strong interest in econometrics, which he taught at the graduate level. In 1974, he went on leave to the University of Chicago where he encountered Robert Lucas who was a central figure in the nascent rational expectations revolution in macroeconomics. Ben came back from his year on leave as a macroeconomist and solidly in the intellectual vanguard of the rational expectations movement. He was key to Virginia being able to recruit several promising new assistant professors who themselves have gone on to prominence in economics.
Ben was an ideal colleague – intellectually curious and rigorous, friendly with a great sense of humor, and a devoted departmental citizen. It was a big loss for the Department when Ben moved to Carnegie Mellon in 1980. When he moved, he and his wife, Sally, kept their house in Charlottesville and returned often. The McCallums were avid music fans and benefactors of the Ash Lawn (now Charlottesville) Opera.
At Carnegie Mellon, Ben became the H.J. Heinz Professor of Economics, retiring in 2016. His research in monetary economics and policy is internationally respected and he has advised central banks around the world, including Japan and New Zealand. His professional recognitions include being a Fellow of the Econometric Society, co-editor of the discipline’s flagship journal, the American Economic Review, a member of the Shadow Open Market Committee, and a research associate at the National Bureau of Economic Research.
Feature | 08/12/2016
The Reality of Student Debt is Different from the Cliches
Matt Chingos and Beth Akers from The Brookings Institution, who participated in an Econmics Career Office panel in 2013, have published their piece about student debt. You may find the piece in its entirety here.
Feature | 03/26/2020
Week of March 26th Newsletter
7 Essential Tips for Working from Home during the Coronavirus Pandemic
ECO Appointments are Available - Pre-Req Workshop is Waived
The world has been turned upside down, and the ECO is open for business, ready to serve you. During these uncertain times thinking about your next steps can be daunting, but I encourage you to reach out to me at the ECO when you’re ready. You may make an appointment Tuesdays-Thursdays on Handshake. Appointment topics can cover general career research, skill-building, resume and cover letter writing, networking, writing a LinkedIn Profile, and salary negotiation, just to name a few topics. And remember to spend time on your mental and physical well-being in the coming weeks. You may want to take this time to teach yourself something new through free online classes sponsored by UVA and LinkedIn Learning. These new skills/new knowledge may be useful as you consider your next steps, or simply be therapeutic and satisfy your curiosity. Regarding employers, several info sessions and events have switched over to virtual platforms, so make sure to check Handshake for changes. Attending these virtual info sessions is a great way to get information, if you’re simply curious about an organization or concertedly committed.
2nd years and 3rd years: Scroll to bottom of this newsletter for information on banking internships and consulting opportunities coming up soon.
4th years: Check out the jobs curated by the ECO.
Worried about securing a job or landing an internship? Wonder how those Econ upper-level students secured all those full-time offers? Meet the Econ department's career advisor and find your path now.
Two Big Programs
Intro to Consulting
Intro to Consulting Night for 2nd and 3rd years. If you are considering consulting for an internship or full-time position, come to this workshop to learn about the consulting industry, day-to-day work, the recruitment process, and what it is like to work with clients. Employers Participating: EY LLP, Bain & Company, McKinsey & Company, Accenture, Mastercard, & IBM. Sign up for the virtual event here.
How to Get a Job in Management Consulting
If you are interested in consulting as a career after graduation, please join our upcoming talk with Grant Tobben, a current 4th year studying Economics heading to Bain & Company as an Associate Consultant after graduation. Grant interned at Bain this past summer and will be presenting a talk on how to get a job in consulting and tips for excelling in a consulting job function. Sign up for the virtual event here.
Jobs & Internships for Econ Majors
Jobs on Handshake
4/3: Marketing Associate, Vital Strategies (NYC)
4/3: Development Associate at University go Chicago (Chicago, IL)
4/3: Economic Policy Research Intern, Hudson Institute (Washington, DC)
4/5: Finance Intern, Worldbank (Washington, DC)
4/30: Student Intern, Chief Financial Office, Department of Homeland Security (Arlington, VA)
4/30: Finance & Donation Associate for International Non-Profit (Washington, DC)
6/2: Finance Internship, MPOWER Financing (Washington, DC)
7/15: Junior Pricing Analyst, Circle Logistics (Orlando, FL)
Jobs Selected from External Boards
4/1: Summer Analyst (Internship), Goldman Sachs (multiple locations)
4/10: Revenue Operations Analyst, LiveIntent, Inc. (NYC)
Opportunities found on WayUp, LinkedIn, and company sites.
Rock Your Digital Interview - #iamPru Webinar Series
Thu, Mar 26 5:00 pm EDT - 6:00 pm EDT
Sign Up Here
VIRTUAL: How to Get a Job in Consulting Presented by 4th Year Econ Major Grant Tobben (Sponsored by the ECO)
Fri, Mar 27 12:00 pm EDT - 1:00 pm EDT
Sign Up Here
Virtual State Farm Career Fair March 31st
Tue, Mar 31 7:00 am CDT - 2:00 pm CDT
Sign Up Here
Helpful ECO Links:
Resumes, Cover Letters, Interview Help
Career Industry and Employer Overviews
Career Advising Appointment
Econ Alumni Contacts
The Three Parts of an Interview (and How to Nail Each)
Attention 2nd Years
Banking internships will be recruiting heavily now and into the summer for internships for the following summer. Banks will hold these info sessions to network with current second years to recruit for internships during their third years. These events will be good opportunities for you to practice your pitch and networking skills, which you can always brush up on here.
Feature | 11/26/2019
UVA Alum Jose Fernandez Elected President of the American Society of Hispanic Economists
The announcement, made on Twitter, can be found here: https://mobile.twitter.com/ASHE_ASSA/status/1197849863582552069 .
Feature | 10/20/2017
ARTICLE - DARING TO DECLINE: KNOWING WHEN TO SAY NO TO A JOB OFFER
by Samantha McGurgan
Congratulations—you got the offer! This is cause for a celebration! Except…why are you experiencing the sinking feeling of dread? You may feel obligated to accept the offer because you already invested so much time and effort in getting to this point, and starting over takes So. Much. Work. You might be thinking:
Is it ok if I say no?
Who says no in this economy?
How do I even determine if it’s not right for me?
As someone who has said no to few offers over the years, I understand how uncomfortable and scary it is to say no to a perfectly good offer on paper. And I can also attest to the fact that I have never regretted saying no to job that didn’t feel right, and only have regretted saying yes. Here are a few questions to ponder through this decision-making process:
1.) How does your body feel? Stop analyzing, over-thinking, second-guessing, and Googling for the answer. Check in with your body: what is your gut telling you? Listen to it. Unapologetically. It’s never wrong. It’s normal to have a bit of nerves when facing a new challenge or embarking on new territory. But there’s a difference between distress (unhealthy) and eustress (healthy). Get to know how your body reacts to negative and positive stress by reflecting on the last time you experienced something of each type—how did it feel? How do those two experiences compare?
For me, I feel depleted, tired, and unconsciously withdraw when experiencing distress. I clench my teeth. Deep down I know it’s not right, but I run over it repeatedly in my mind trying to find a way to make it work. My husband says: You just got an offer—why aren’t we celebrating?
Conversely, I feel charged up, energetic, and motivated when faced with the possibility of a new and exciting challenge (aka a job I actually want). I feel inspired. I literally jump for joy after getting the call that I’ve been selected as the top candidate. I feel like everything was worth it after all.
Bottom line: If the offer doesn’t make you feel good, this is a warning sign. It’s worth it to wait for the job that won’t make you want to quit after three months.
2.) Are you running toward the finish line or being chased by wolves? Both of these instances involve quick, forward momentum. The difference lies within the motivation. My first question is always: Do you want the job or are you afraid that it’s your only option?
There are currently more job openings in the United States than people who are unemployed. The culture of scarcity that has been drilled into us since the Great Recession doesn’t reflect the reality of the job market. Given that you are qualified for the role you are seeking, wait for the job that will provide a sustainable opportunity for career growth, rather than accept the first one that comes along (if it’s not truly what you want).
Many of my graduating seniors who are in the midst of their first job plan on accepting a position as a safety net with the intent to keep looking for a better option. I ask them to think deeply about what is lacking in the opportunity, decline the offer, and seek one that is a better fit.
This doesn’t mean don’t accept an entry-level position. This means don’t settle for something okay when you could have something even better if you’d only waited another month or two. Or six. And don’t accept an offer with the intention to bail when something better comes up.
Bottom line: You’re going to find a job. Trust in that. And aim high. Do you really want to go through the interview process any time soon anyway? If you’re already planning to quit before a year or two, decline the offer.
3.) What do you want your life to look like?
If you’re like me, you’ve found yourself lying awake at night asking the Internet for a glimmer of hope or a strategy to make a non-ideal offer work with my life.
Ok Google: Is there a way to spend a two-hour commute that won’t make me angry and hateful?
I’m exaggerating, but the answer is no. For me. Because I have a family, and I know the excitement of a new role would quickly wear off after spending 12 hours each day away from home. Other people I’ve spoken to don’t mind their commute at all because they love their job so much. The question to ponder is, how will this job affect the rest of my life and therefore my happiness? How does this position relate to my ultimate goal? There are going to be sacrifices. Let’s make the sacrifices worthwhile.
Bottom line: The more you know yourself and your goals, the better you can discern if the position is right within the context of your life as a whole.
Samantha McGurgan is a career counselor at California Polytechnic State University, San Luis Obispo, and college success adjunct at Cuesta College. Her greatest moments of joy involve expanding the career horizons of first generation students and supporting military-connected students in their transition to civilian careers. She holds an M.A. in education, with a specialization in counseling and guidance in student affairs from Cal Poly SLO, and a B.S. in human ecology from The Ohio State University.
Courtesy of the National Association of Colleges and Employers.
Feature | 01/16/2023
How to Be Happier at Work, According to a Resilience Coach
article written Jason Shen from The Muse
Modern workplaces can be an endless cycle of frantic stress, impending deadlines, and existential dread. Especially now, given the rise in headline-making layoffs at major companies like Twitter, Meta, and Amazon.
But it doesn’t have to be this way. As a resilience coach, I help my clients weather life’s challenges and find greater fulfillment and—dare I say it—happiness at work. My recommendations are grounded in the idea that resilience is not a fixed trait or a limited resource—it’s a set of skills we can all develop to improve how we respond, restore, rebuild, and reflect in the face of change.
Here are five strategies for cultivating resilience that can make us happier at work.
1. Embrace the messiness of work.
First, it’s important to accept that work is often messy and chaotic. This is not a bug—it’s a feature. The most important problems are the ones with no clear solution—everything else has been automated or outsourced away. This means the only work that’s left is the work that changes rapidly. Work that requires resilience.
As a former startup founder, I thought I knew what it meant to be nimble and adaptable. After being hit in a second round of layoffs at Etsy in 2017, I started Headlight, a tech hiring platform, with a former coworker. Eighteen months into the business we did a hard pivot into gaming and e-sports, and eventually landed a small exit by Facebook in 2020.
But only after ramping up as a product manager at Facebook/Meta did I realize just how seriously the term “move fast” applied to internal work culture. Reorgs, new project objectives, and stakeholder alignment became my day-to-day reality. I had to really get comfortable with the messiness and chaos of my work life. We can’t control everything at work, but we can control our attitude, our presence, and our dedication to our craft. Sometimes the moments of messiness can lead to the greatest triumphs—and that can be one of the best feelings in the world.
Put it into practice:
- Accept that your work is temporary, your projects are impermanent, and your objectives are not final—and look for new possibilities that emerge when change arises.
- Develop personal habits and routines at work and in your personal life that can ground you in a sense of stability when the work itself cannot. A weekly check-in with a trusted coworker, a morning yoga or meditation practice, or a regular happy hour with friends can reduce the anxiety of a constantly changing swirl of work.
2. Make time for joy and fun.
Finding moments of joy and happiness at work is essential to our well-being. We need to proactively look for the good and the delightful things in our day, even—especially—when things are tough. A five-minute chat with a colleague about weekend plans, a funny meme that gets passed around the office, or a team lunch (virtual or real) can make a big difference.
“It’s a shockingly recent notion that work and play should be mutually exclusive things,” Scott Berkun writes in The Year Without Pants about his time as an engineering manager at Automattic, a remote-first company since 2005. Much of the book talks about the fun times his team spent together at company retreats and all hands. “We learn about ourselves and each other through play, which helps us work together. Not everyone believes this, of course, but I do.”
We know that across the military, professional sports, and the entertainment industry, there’s often a great deal of play mixed into the work. That kind of fun can create deeper relationships, which in turn drive performance.
A big part of my work is to help my clients identify what brings them joy and then make time for it. One of my clients has a dream of leaving his 9-to-5 job to become a freelance consultant so he can take long bike rides during the week. I asked him why he couldn’t start doing that now, but on the weekends. If it’s not a priority now, it probably won’t be a priority later.
Put it into practice:
- Schedule in time for fun at work. This could be a recurring activity or an ad hoc event with a colleague or team. Some of my favorite remote-friendly team activities include online escape rooms (like a brainteaser or a detective game), drawing games (like Garticphone or Skribble), and guessing games (like Wavelength).
- Prioritize fun outside of work. How can you have something to look forward to after work is over? Consider enrolling in a craft, cooking, or fitness class—ideally with a friend. Or plan a bigger activity like camping, international travel, or a show further into the future and savor the ongoing anticipation as the event draws near.
3. Connect to your personal values at work.
In an ideal world, we could work in industries, companies, and roles where we feel total alignment between our personal values and our employer’s values.
The reality is that many people face a bit of a mismatch. Our values might be aligned with the mission of our company, but not necessarily with the project we’re working on, the department we’re in, or the people we’re working with.
When we find ourselves in a work situation that isn’t aligned with our values, it can be incredibly disheartening. But while changing your circumstances (read: getting a new gig) would obviously be the most direct approach to addressing the issue, it will inevitably come up again in your new job (see strategy no. 1).
Instead, look for smaller ways to express your values at work. For example:
- If you value teaching, maybe you can host a brown bag discussion about a popular topic (“last-touch attribution in marketing”) or tool (“no-code automation apps”) that has emerged in your field.
- If you value design, how can you make sure your next report or presentation is visually appealing, even if it’s only being shown to a few teammates?
- If you value contribution, can you come up with some ideas for how to improve a product, feature, service, or team process and see if anyone else wants to join you in working on them?
One big benefit of focusing on values over, say, goals is that you can fail to achieve a goal (“ship Project Sirius by May 1”) but you can always act in accordance with a value (“be transparent in communication”). No matter what’s going on at work, we can always do something that brings us closer to our values, which will make us feel less trapped by circumstance and more in control of our experience.
Put it into practice:
- Articulate your core values and put them in a place where you can easily see them. Here’s the template I often take my clients through to whittle down from a larger list into a smaller group of personalized values.
- Make some time at the beginning of each week to reflect on the week ahead and look for opportunities to insert your values at work.
4. Find communities where you can let your guard down.
Leaders often talk about supporting “authentic expression” or “bringing your whole self to work.” But when performance is being scrutinized during tough times, we tend to put on the mask of a bland, upbeat corporate persona. It quickly gets exhausting.
It’s really important to have other places where we can let our guards down and just be ourselves—where we can talk about the challenges we’re facing and get feedback on how to address them.
I recently facilitated a six-week resilience-at-work series with about a dozen employees across technical and business functions at a large tech firm. Each person there was seeking resilience in the face of a challenge: returning to work after family leave, being put on a performance improvement plan (PIP), or feeling isolated as a fully remote worker.
While initially guarded, there was a moment halfway through when people opened up. I was going over the third skill in my resilience framework: rebuilding in the face of change, and letting go of old dreams in order to dream new ones.
One by one, participants shared dreams they had lost—a career as a touring theater performer or a project they thought they would get to lead. And then talked about dreams they were holding out hope for—acquiring a rental property to build financial freedom or having a less combative marriage than their parents had. These vulnerable conversations built a sense of community and helped them feel more at ease in the midst of their struggles.
“My circumstances haven’t really changed,” one participant said toward the end of the series. “But I feel better about facing the unknown. I have some skills I can use and a community to turn to when I feel like things are hard.”
Put it into practice:
- Join an employee resource group (ERG) or other semi-private support group at work where you can find belonging with a smaller number of coworkers who might not be on your direct team. Contribute to the conversation, ask questions, and consider proposing a periodic get-together—either in person or on video call—to support one another.
- Find community in a professional network outside of your company. I’ve built relationships and found community through cohort-based courses (like Ship 30 and Great Founders Write), peer coaching groups (like Sidebar), and even dedicated Slack channels and Facebook or LinkedIn groups for product managers.
5. Think about the story you’ll tell.
As an amateur climber and outdoor enthusiast, my sister Amy introduced me to the idea of Type 1 and Type 2 fun. First coined by Rainer Newberry, a geology professor at the University of Alaska, the terms reflect the idea that some things are only fun in retrospect.
- The ambling hike up gentle hills on a sunny day? Pleasant, enjoyable in the moment. Type 1 fun.
- Crossing a river with your friend in the dark to search for your car keys after you lost them on the trail? Tiring and unpleasant in the moment, but pretty funny in retrospect. Type 2 fun.
Work is rarely Type 1 fun. The occasional brainstorming session, team offsite, or quietly productive afternoon are the exceptions, not the rule. But when things get hard, you might see the moment as Type 2 fun—an experience or accomplishment that’ll you’ll remember and talk about fondly afterward.
When my third startup got into a Amazon-affiliated startup accelerator, I had to relocate from New York City to Seattle. I left behind my new wife just a few months after our wedding to hunker down in a 250-square-foot dorm for several months as my cofounder and I prepared to wow investors on Demo Day. It wasn’t exactly pleasant in the moment, but I cherish the memories from that intense sprint as part of my life as an entrepreneur.
Extensive work by the psychologist James Pennebaker and others has shown that writing about our experiences during and after difficult circumstances—especially if these thoughts and feelings have been kept a secret—can be tremendously healing, even if we never show those words to anyone. Taking multiple perspectives on the situation and trying to piece together a narrative even when things felt out of your control (using words like “realize” and “because”) helped people move forward in a positive direction.
By retelling the story of our lives through a more empowering lens, we can take the edge off difficult events of the past and see the joy and growth they’ve enabled. Through the power of narrative and reflection, we can internalize lessons that will shape who we are today and who we become tomorrow.
Put it into practice:
- Reflect on past challenges you’ve faced. What did you learn from those experiences? How have they shaped who you are today? Write it out. Or publish your reflections to an audience: If a fully public platform feels like too much exposure, consider just emailing a group of friends or posting in a private social network.
- Think and freewrite about how you might want to tell the story of your current situation at work in the future. What actions will you want to say you took? How will you wish you’d handled it? What ending would you want the story to have?
Happiness is not possible at every moment, but by acting with resilience, we can create more consistent happiness in our lives—inside and outside of work.
Feature | 03/24/2015
Research at the Frontiers in Big Data
"As the sheer volume of data in a range of computationally intensive fields grows bigger, computer scientists, engineers and researchers from across the disciplines are finding that work involving “big data” increasingly lands at the intersection of disciplines. Denis Nekipelov, a new associate professor of economics at the University of Virginia, calls it “research at the frontiers.” (Fariss Samarrai)
To read more of this article, click here.
Feature | 08/08/2017
ARTICLE - 5 BEST APPS FOR TIME MANAGEMENT
"These days, we do lots of things online. While this saves us a lot of time, it also demands more focus and concentration on our part. With all the distractions the internet offers, you may want to use some effective time management tools to eliminate them." -Jack Milgram
Click here to read the rest of the article.
Feature | 07/19/2019
Diego Legal-Cañisá Presents Research on Consumer Bankruptcy at NAMSES
In June, 2019, Diego Legal-Cañisá presented his paper "Unemployment Insurance with Consumer Bankruptcy" at the North American Meeting of the Econometric Society in Seattle, Washington. The data shows that Chapter 7 bankruptcy rates across counties and Unemployment Insurance (UI) generosity are negatively correlated. This fact suggests that Chapter 7 bankruptcy and UI are substitute programs and raises the question of about the implications of consumer bankruptcy for optimal UI. Diego constructed a model matching main statistics regarding the U.S. unsecured credit and labor markets, including the main features of Chapter 7 Bankruptcy and UI. The model successfully accounts for the negative relationship between bankruptcy rate and UI generosity observed in the data. In the model, for low levels of UI, a more generous UI reduces bankruptcy and allows more debt. As UI keep increasing, employment falls and lenders react by contracting credit supply. From an ex-ante welfare perspective, an increase in the replacement rate from 50% to 60% is welfare reducing when bankruptcy is allowed but would be welfare increasing without bankruptcy. The conference allowed Diego to get valuable feedback on his research and meet with prominent researchers in the field. It also resulted in an invitation to Diego to present his research at the Economics seminar series at VCU School of Business.
Feature | 12/18/2019
Newsletter Week of December 16
As finals draw to a close, we here at the ECO are thinking about what information would be most helpful to share for your use over winter break. So, we’ve compiled a list of odds and ends, some of which are job postings and others that are resources related to the job search, like this article about practicing your virtual interviewing skills. We are sharing these resources with you as one long Holiday List at the bottom of the newsletter - our holiday gift to you. It’s your last chance to sign up for our Economic Policy Trek to D.C. (Jan 9th-10th) when we will visit think tanks/research centers such as Brookings, AEI, and the Center for Global Development. Scholarships are available based on need. Click here for more information. Registration closes Wednesday, 12/18 at 12:00pm. Finally, the winner of the $25 Starbucks gift card for responding to our surveys is Francesca LeFrancois.
Jobs & Internships for Econ Majors
Jobs on Handshake
12/27: Research Associate at Economists Incorporated (San Francisco, Washington DC)
12/31: Consultant, Center for Healthcare Economics and Policy (Washington DC)
1/31: Finance Analyst, E*TRADE (Arlington, VA)
1/31: Finance Summer Intern, E*TRADE Financial (Arlington, VA)
1/31: Treasury Analyst, Nodal Exchange (Washington DC)
Jobs Selected from External Boards
1/17: Royster Lawton Fellowship for Entrepreneurship and Social Impact
1/20: Strategy and Innovation Summer Associate, The Capital Group Companies Inc (L.A., CA)
1/31: 2020 Summer Leadership Academy, Accounting and Consulting Group LLC (Atlanta, GA)
Summer Internships and Jobs found at WayUp, such as Deutsche Bank 2020 Summer Analyst in Corporate Finance. See below.
Deutsche Bank 2020 Summer Internship Corporate Finance
Deutsche Bank is Germany's leading bank with strong market positions in Europe and significant presence in the Americas and the Asia-Pacific region. We’re driving growth through our strong client franchise, investing heavily in digital technologies, prioritising long term success over short-term gains, and serving society with ambition and integrity. We serve our clients’ real economic needs in commercial and investment banking, retail banking and transaction banking, and provide ground-breaking products and services in asset and wealth management. That means a career packed with opportunities to grow and the chance to shape the future of our clients.
About your Internship
An internship at Deutsche Bank is your stepping stone to success and your first look into what life is like on our Graduate Programme. You’ll become part of a collaborative and inclusive workplace as you build on your technical and interpersonal skills, take on real responsibilities, hear from senior leadership through our speaker series, work on live projects, grow your network and learn first-hand how we deliver for our clients. If you want the opportunity to shape your own career as well as the future of the financial industry, then we will give you the platform and foundation to do so. Successful interns will be invited to join the Deutsche Bank Graduate Programme.
About Corporate Finance
Our Corporate Finance business provides the full range of advisory and financing products and services of a leading global investment bank. Our clients include large-cap and mid-cap corporates, financial institutions, governments, government agencies and financial sponsors. We recognise that selecting the right investment banking partner can be the key to a company’s success. Our relationships are enhanced by industry sector, country and regional expertise, closely aligned to high-quality client solutions. We offer both buyside and sellside advisory services for mergers and acquisitions, restructuring advisory, debt and equity capital raising services and structured equity transactions. We are able to advise on innovative cross-border and regional transactions in the US, Europe and Asia Pacific.
Our interns are given the opportunity to learn about our business from different viewpoints, giving you a career advantage. Working on our day-to-day business as well as on special projects, you will contribute to the innovation of new ideas to help our customers achieve their financial goals. You will gain experience in different areas of our business and discover our market-leading solutions first hand. Tasks may include evaluating companies, developing models for M&A transactions, preparing industry analyses for pitches, or getting involved in the execution of live deals.
The internship is an ideal way of finding out whether a career in Corporate Finance meets your needs and aspirations.
Intern Experience at Deutsche Bank
We are looking for bright minds with excellent academic records and some practical work experience to create a positive impact for our customers. We hire for attitude and skillset and are open to applications from a variety of backgrounds and degrees.
- Are you passionate about finance and have an affinity for numbers?
- Do you have an interest in business, economics, financial mathematics or engineering, either as part of your degree or extra-curricular activities?
- Do you have strong communication skills and are you fluent in English?
- Can you work well in a team and inspire others with your ideas?
- Would you describe yourself as a conscientious, dedicated individual with excellent analytical skills?
Then we look forward to meeting you!
Our values define the working environment we strive to create – diverse, supportive and welcoming of different views. We embrace a culture reflecting a variety of perspectives, insights and backgrounds to drive innovation. We build talented and diverse teams to drive business results and encourage our people to develop to their full potential. Talk to us about flexible work arrangements and other initiatives we offer.
We promote good working relationships and encourage high standards of conduct and work performance. We welcome applications from talented people from all cultures, countries, races, genders, sexual orientations, disabilities, beliefs and generations and are committed to providing a working environment free from harassment, discrimination and retaliation.
ECO Holiday List
-Articles/Resources about Networking
-Articles/Resources about Resume Writing
-Articles/Resources about Cover Letters
-Articles/Resources about Interviewing
-Articles/Resources about Using LinkedIn and Twitter for your Job Search
Awesome Resources in Handshake you may not be aware of:
-CareerInsider by Vault – Includes descriptions and detailed career guides by industry.
For example: Read all about Marketing in the Careers in Marketing guide. Includes a job board.
-CareerShift – Find employers and contacts (including emails) by industry, location, company size, and more. Also includes links to organizations’ jobs boards!
-GloinGlobal – For Your International internship or job search
-Assessing Your Interests (ECO webpage)
-What Can You Do with an Economics Major (UTennessee’s page)
-Econ Alumni Contacts
Helpful ECO Links:
Resumes, Cover Letters, Interview Help
Career Industry and Employer Overviews
Career Advising Appointment
Econ Alumni Contacts
The Three Parts of an Interview (and How to Nail Each)
Joy Fan, Econ '17, Media Relations and Marketing Associate at AEI
Paid Undergraduate Teaching Fellowships in the Econ Dept
The Do's and Don't's of the Virtual Interview by EY
Feature | 07/31/2021
Blog: Consulting Blog #1
This message was shared with the ECO from the UVA Career Center for students interested in management consulting careers. This is message 1 of 3. For additional information, see Collab/ECO Resources/Vault Guides/Consulting Careers and the ECO website’s Industry Overviews in the “Management Consulting” section.
Step 1: Define Consulting
We strongly suggest learning more about the role of a consultant before deciding to pursue internships and full-time positions. Here are a few resources to help get started with learning more:
In addition to traditional management consulting, there are several areas of specialized consulting that may be of interest depending on your background. Look at the links below to see where your background may be best served or what is of most interest to you to work towards.
If you are curious to learn more about which firms sit within each practice area, the Career Insider by Vault has a breakdown chart. From the top Data Analytics Consulting practices to Healthcare Consulting, this list serves as a valuable tool.
Last summer, we had the opportunity to hear from alumni from a variety of backgrounds talk about their path in consulting. Hear more about their story and advice in the videos and blog posts listed below:
Making the decision to pursue any career path is a big decision and it is important to make it an informed choice. In addition to the resources above, the Career Center offers an extensive library of resources are major and career exploration.
PathwayU is a platform with assessments to help you identify education and career pathways that fit you and make the most sense for your unique interests and values.
Candid Career is the premier provider of thousands of informational video interviews featuring industry professionals through an easy to use website. Their site provides the inside scoop on careers as well as advice that will give you an edge in your job search. Here are some links to videos with consultants to learn more about their day to day:
Step 2: Identify Target Firms
Once you have decided consulting is an area you would like to explore further; we advise that you identify which firms you want to learn more about. Below are tips for accomplishing this:
Regularly check the Events tab on Handshake to identify information sessions, coffee chats and networking events to attend. RSVP and add to your calendar!
Visit each firm’s website, LinkedIn page, and social media accounts to learn more. You want to learn as much as you can about, the types of projects the firm typically works on and the overall environment to help assess fit.
For now, ask yourself some of these questions about the firm to assess fit:
What does the organizational structure look like?
What are the responsibilities of entry level consultants?
What is the pattern for growth? Where do people go after their first role within the organization?
As you are identifying your firms to research, some will have specific portions of their websites dedicated to recruiting at UVA, check out these examples below:
Feature | 10/26/2017
3 TIPS FOR STUDENTS FROM D.J. D-SOL
"In a recent Exchanges at Goldman Sachs podcast, Goldman president and co-COO David Solomon offers some rather helpful advice for college students. Solomon, who in addition to his Goldman duties spins music in Miami and the Bahamas under the stage name D.J. D-Sol, went to Hamilton College, a small liberal arts college in Clinton, N.Y., about a four-hour drive from New York City. D-Sol culled much of the following advice from his fond four years at Hamilton, as well as from his three decades in investment banking (and perhaps a bit from his late nights on the decks)." -Derek Loosvelt
Click here to read the rest of the article
Feature | 01/17/2020
Week of Jan 13 Newsletter
Things just haven't been the same without you! As you get back into the rhythm of the semester, keep an eye out for upcoming ECO events and networking opportunities on Handshake. On the 24th, the ECO will be holding an Internship Panel with Econ upper-level students who have successfully gone through the recruiting process. Drop by for snacks and straightforward advice from your peers. The ECO offers individual advising to majors. You can sign up through Handshake for appointments if you've taken the brief pre-req workshop. The next pre-req worksho will be held this Friday, January 17 at noon in Monroe 120. Sign up at the links.
ECO Internship Panel
Join us and a panel of economics majors at the ECO's Spring Internship Panel as they discuss their recruitment experience, the internship search process, on-the-job experiences, and their next steps. The program will include 30 minutes for the panel, 15-30 minutes of formal Q&A and then 30 minutes of networking with the panelists. We will provide snacks for attendees at the networking portion of the program.
Sign Up Here
ECO Orientation for All Economics Majors; Job and Internship Workshop- Pre-Req for Advising (Sponsored by the ECO)
Fri, Jan 17 12:00 pm EST - 12:50 pm EST
Monroe Hall, Room 120
Sign Up Here
ECO Internship Panel (Sponsored by the ECO)
Fri, Jan 24 12:00 pm EST - 1:30 pm EST
Monroe Hall, Room 130
Sign Up Here
UVA Spring 2020 JCPenney Suit Up!
Sun, Jan 26 6:00 pm EST - 9:00 pm EST
1639 Rio Rd E, Charlottesville, Virginia 22901
Sign Up Here
2020 Spring Job and Internship Fair (Engineering and University-wide Career Fair )
Wed, Jan 29 10:00 am EST - 3:00 pm EST
Thu, Jan 30 10:00 am EST - 3:00 pm EST
Newcomb Hall (Student Center)
Sign Up Here
2020 DC IMPACTLink Interviews - PSG Day in DC
Fri, Feb 7 9:00 am EST - 5:00 pm EST
1779 Massachusetts Avenue Northwest, Washington, District of Columbia 20036, United States
Sign Up Here
Deadline for resumes is January 20th
Employers Recruiting at ImpactLink in DC
- American Enterprise Institute
- Center on Budget and Policy Priorities
- Cleary Gottlieb
- Hanover Research
- Keybridge Communications
- National Endowment for Democracy
- Tesla Government
- US Department of Justice/Antitrust Division
- Y Analytics, PBC
Jobs & Internships for Econ Majors
Jobs on Handshake
1/28: Financial Planning and Analysis Associate, Ciena (Hanover, MD)
1/30: Account Executive, E. W. Scripps (Baltimore, MD)
1/31: Business Development Representative, Quorum (Washington DC)
1/31: Marketing Associate, CRC Companies (Arlington, VA)
2/1: Private Equity Operations Intern, Broadtree Partners (NYC)
2/8: Venture Capital Analyst, Blisce (NYC)
Jobs Selected from External Boards
1/17: Royster Lawton Fellowship for Entrepreneurship and Social Impact
1/20: Strategy and Innovation Summer Associate, The Capital Group Companies Inc (L.A., CA)
1/31: 2020 Summer Leadership Academy, Accounting and Consulting Group LLC (Atlanta, GA)
3/1: Market Data Analyst, Bloomberg (Princeton, NJ)
3/1: Finance Leadership Development Program, Johnson & Johnson (New Brunswick, NJ)
Summer Internships and Jobs found at WayUp
Feature | 09/12/2016
ECO NEWSLETTER 9.12.17
Updates from the ECO with Jobs, Events, and Workshops!
Feature | 05/23/2022
MJ Nilayamgode and Tyler Wake present at MMC
Graduate students Tyler Wake and Mrithyunjayan (MJ) Nilayamgode attended the Midwest Macro Conference at Utah State University in Logan, Utah on May 20 and 21, 2022. They presented original research co-authored with their advisor Ana Fostel, “Collateral Expansion: Pricing Spillovers from Financial Innovation,” and attended a variety of talks, including two keynote speeches from Ayşegül Şahin and Tom Sargent. Other UVA Economics PhD graduates in attendance included Joaquin Saldain (Bank of Canada) and Ia Vardishvili (Auburn University).The Midwest Macroeconomics Conference began meeting in 1994 and is one of the longest- running dedicated macroeconomics conferences in the United States. Its next meeting will be in Fall 2022 at Southern Methodist University in Dallas, Texas.
Feature | 08/01/2021
Article: Top Private Equity Firms Hiring College Grads!
A KKR talent exec says the private-equity firm’s college recruiting is expanding beyond core target schools
After years of relying on lateral hiring, private-equity firms are now battling with investment banks to recruit talent directly from college campuses to fill entry-level, often six-figure roles.
But thanks to virtual recruitment, the group of schools that the private-equity giant KKR targets for entry-level talent has broadened.
KKR launched its first formal analyst program in 2020, which it filled with college graduates, many of whom had interned at the firm. It hired 12 full-time analysts this way out of 762 collegiate applicants in 2020, and in 2021 it hired 19 out of 1,678, amounting to an acceptance rate of less than 2% in both years, Grace Koo, KKR’s head of talent acquisition, told Insider.
Before, the firm had hired junior investment professionals only after they landed jobs at other financial institutions, most often investment banks. While a majority of KKR’s junior hires still come to the firm laterally, Koo said campuses are now becoming an equally important pipeline.
The pandemic and switch to remote work helped KKR rethink how it approached on-campus recruiting, Koo said.
KKR has been able to access more students through webinars and virtual tools this year. Koo said that the age-old practice of recruiting within a group of core "target" schools is now "almost an obsolete concept," as the firm no longer feels it must be physically present on a campus in order to connect with prospective hires.
"It’s no longer: Here are my four schools or here are the 12 schools I care about. Technology has completely leveled the playing field," Koo said.
KKR received applications from students from close to 150 schools this year.
"There’s no way we ever would have been able to physically appear at these campuses," she said. "But with virtual tools, I think we can tell our story to so many more students and reach that diverse and rich pool of talent."
A spokesperson for KKR said they were unable to provide specific data on the diversity of the company’s candidate pool this year.
Before 2020, first-year investment-banking analysts would apply to KKR for "on-cycle" private-equity associate positions, committing two years in advance to starting those jobs. On-cycle recruiting for the class of 2020 associates was delayed throughout the industry as firms including KKR sought to give these investment-banking analysts more time to gain work experience before interviewing.
Koo said that firms expect to start recruiting on-cycle associates again this fall. She said KKR sees the late start to recruiting as a positive for first-year investment-banking analysts, who will have the chance to gain hands-on experience before making an informed choice about their post-banking career path.
Anita Ramaswamy July 17, 2021 at 05:45PM
View this article on the original webpage here.
Feature | 08/02/2021
7 Essential Career Readiness Tips for Students
Taken from Vault
Deciding what to do after school and how to prepare for life after college can be stressful and time-consuming. But it doesn’t have to be. If you follow the below seven stress-free tips, you’ll be well prepared for the next step in your life.
1. Actively build your network
If you want to advance professionally, you need to begin networking as soon as possible—and that means starting in college. You should always try to meet as many people as possible. And don’t be too hesitant to go to social gatherings. You can use social events hosted by your college as fantastic opportunities to engage with key individuals. When you do go to gatherings, don’t wait for others to approach you. Be prepared to take the lead and be the conversation starter.
2. Learn how to budget
Money management might be your last priority when you're in school. However, college is an excellent time to establish sustainable lifestyle decisions such as budgeting. While we all understand the importance of living within our means, it’s easy to forget to sit down and devote some time to developing and managing a budget.
Usually, creating a budget isn’t an issue for college students. But adhering to it is. Budgeting is based on the premise that you should never spend more money than you earn. Otherwise, you risk becoming engulfed in debt that will be hard to recover from. To begin to create a budget, determine how much money you have and which school expenses are unavoidable. These are figures that should remain relatively constant for the school year.
3. Refine and build your social media presence
It's critical to ensure that your social media profiles portray you favorably. Prospective employers will likely conduct an online search of you, and if they find something on your social media that they dislike or find offensive, it may cost you a job opportunity.
It’s also a good idea to start to use your social media to build your network. You can now use various social networking sites to interact with prominent people online. So, participate in online exchanges on social media platforms such as Facebook, Twitter, LinkedIn, and Instagram, to name a few. Contact employers, industry experts, recruiting agencies, passionate individuals, and so forth. Create connections that could help you later.
4. Work on your interviewing skills
One of the main things you'll need to do to prepare for life after college is master your interviewing skills. The best way to prepare is to practice your answers well in advance of interviews, so you can be ready to interview on a moment’s notice. It will be far less stressful later if you start preparing as early as possible while in college. Note that it’s an art to learn how to talk to employers and recruiters, and it takes time to master. You shouldn’t only begin to prepare for an interview the night before. Start now!
5. Find internships and mentorships
Any student who has searched for an internship will tell you that finding the perfect one can be challenging. They’ll also tell you it’s well worth the effort. There’s no disputing that an internship can give you many advantages, including essential experience that will help you develop a solid professional foundation as you begin your career path. This can lead to greater job prospects once you graduate, as well as a higher salary.
Also, a mentor can assist you in understanding professional environments by giving you viewpoints that can help you grow your career in its early stages. A mentor might be a professor with industry ties, a previous supervisor, or even a family member. Your choice of mentor will likely be influenced by your area of interest and intended career.
6. Think about student loan repayment
Consider your repayment strategy if you used student loans to help fund your education. There are likely several repayment choices available for federal student loans, including standard, graduated, and income-based repayment. Most likely, you'll have various terms to consider if you took out private student loans.
Also, if you plan to begin your post-grad career in a big city like Los Angeles or New York, you’ll need to be smart with your money and check what the best neighborhoods for renters are. For example, if you target affordable places for renters in NYC, you’ll be able to significantly cut your costs and use the extra money towards repaying your debt.
7. Follow your passions and know your worth
Career paths are full of twists and turns, as well as unexpected stops and starts. Consider your career as a three- or four-decade timeline. It isn't just one job. So, make sure to plant, nurture, and pursue your passions, since they’ll provide you with the most fulfillment and opportunities for success. College will help you find your strengths and realize your worth—claim them. Remember, there’s no one else like you—and that's your biggest strength.
Melissa Fisher is a full-time blogger with a focus on career counseling and job hunting. Her passions include reading true crime novels and playing with her two dogs.
Feature | 11/21/2021
Hello Econ Majors!
I hope your Thanksgiving week is off to a great start.
This week, our theme is thanks. We have a wonderful network of alumni to be thankful for. Each year dozens of economics alumni meet directly with our majors through ECO programming. In the last 12 weeks, more than 15 alumni sat on career panels and held office hours with our students through the How I Got This Job career program, the International Development and Humanitarian Aid Career Panel, and the Virtual Think Tank Trek . I encourage you to get in touch or stay in touch with these alumni! Below are some articles and tips to get you started, or help you continue connecting with our awesome alumni.
How to Network in a Virtual World The first 8 paragraphs are relevant for our majors. The remainder of the article offers food for thought as you begin growing your network and fortifying those professional relationships you've already begun to build.
How to Make the Most of Your Alumni Network Paragraph 6 through the end of the article seem most relevant for our students. The Virginia Alumni Mentor network, through the UVA Career Center, includes micro-internship projects, which our awesome alumni have posted. Additionally, the ECO has a list of more than 500 economics alumni, who have offered to speak with our majors about their work and yours. That list is in the ECO Collab folder, which all majors have access to at the link above. For more networking resources, check out UVA's LInkedIn page, UVA's Alumni, Friends, and Parents LinkedIn page, and UVA"s Economics Alumni page. Our students are welcome to join each and connect with alumni. Check out these other networking and professional development resources. And if you're wondering what econ majors do after graduation, look here for industry overviews and here for recent graduates' next steps.
Economics Career Office
Feature | 07/07/2018
PHD CANDIDATE EMILY COOK PUBLISHES ARTICLE WITH PROFESSORS CILIBERTO (UVA) AND WILLIAMS (UNC)
UVA Professor Federico Ciliberto, UVA PhD Candidate Emily E. Cook, and UVA alumnus and current UNC Professor Jonathan W. Williams recently published “Network Structure and Consolidation in the U.S. Airline Industry, 1990-2015” in the Review of Industrial Organization. The authors study the effect of consolidation on airline network connectivity using three measures of centrality from graph theory: Degree; Closeness; and Betweenness. Degree is the fraction of all possible links that are actually served by at least one airline out of an airport; Closeness is the inverse of the average distance (i.e., number of links) from an airport to every other airport; and Betweenness is the frequency with which an airport is found to be on the shortest path between two other airports.
Changes in these measures from 1990 to 2015 imply: i) the average airport services a greater proportion of possible routes; ii) the average origin airport is fewer stops away from any given destination; and iii) the average hub is less often along the shortest route between two other airports. Yet, the authors find the trend toward greater connectivity in the national network structure is largely unaffected by consolidation—in the form of mergers and codeshare agreements—during this period. Forty years after its deregulation, the airline industry continues to be the focus of research, antitrust cases, and public policy debates. In this paper the authors contribute to the evolving debate by examining how mergers and alliances have shaped the entire industry’s U.S. network.
The figure above, which captures trends in the network measures from 1990 to 2015, shows the year fixed effects and associated confidence intervals from separate OLS regressions of standardized Degree, Closeness, and Betweenness on a constant along with year, month, and airport fixed effects.
Feature | 04/27/2019
How to Answer: Tell Me About a Time You Made a Mistake
Although no one likes talking about their mistakes, being able to discuss your past mistakes in a job interview can actually be a great way of impressing the interviewer. So when you encounter a question like, “Tell me about a time you made a mistake,” during an interview for an internship or entry-level job, you should focus on how you dealt with the mistake and what you were able to learn from it. When the hiring manager asks this question, it’s not because they’re trying to trip you up; rather, it’s a chance for the interviewer to see that you are able to acknowledge your mistakes and learn from them, two very important qualities. An employer would rather hire candidates who admit and grow from their mistakes than those who think they never make any.
As with any frequently asked question, it’s important to make sure you have an answer prepared before you go in for the job interview. These tips will help you describe a time you made a mistake in a way that will make it clear you’re the right person for the job.
It’s important to be able to admit that you’re capable of making mistakes (as we all are), and that you’re willing and able to admit it. Therefore, you should refer to an actual mistake you made instead of attempting to appear that you don’t make any.
It’s tempting to catalog how other people’s actions led to your error. But if you spend time during your interview talking about all the ways in which others — or the company itself — failed, you’re not actually admitting you made a mistake. Instead of pointing the finger at others, acknowledge the role you played. Your answer should be related to work; the interviewer doesn’t want to hear about the argument you had with your parents. Nor do you want to reveal any mistakes that could indicate a lack of professionalism on your part. Stick with school or work-related issues that stemmed from a true oversight or misunderstanding:
Highlight the resolution
Make sure to spend time discussing how you addressed the problem and outline the concrete steps to took to rectify it. The interviewer will want to know how you handle complications.
Emphasize lessons learned
Demonstrate that the mistake you made was not in vain. The interviewer wants to know that you can learn from your mistakes and take action to make sure they don’t happen again. By concluding the story of your mistake with what you learned, you can frame the incident in a positive light and show that you’re able to grow from your mistakes.
Say something like: “At my previous internship, I underestimated the amount of time I would need to work on a presentation for a team meeting. I was still getting used to the workflow in a busy office so I didn’t realize that I would need an extra few hours to put a deck together. Luckily, I managed to catch the mistake before the presentation was due to take place and asked my manager for help to complete it in time. It was a valuable lesson in time management and I’ve become better at prioritization and mapping out my schedule as a result of that experience.”
While it can be awkward to discuss mistakes you’ve made, your ability to do so is an asset. Interviewers know it’s a difficult question, and that’s why the right response will signal that you’re the right candidate for the job.
Next, get more career tips for internships and entry-level jobs such as How to Dress for a Job Interview at a Nonprofit and find answers to common interview questions such as What Motivates You?
Feature | 03/27/2019
5 Tips for Nailing a Phone Screen
I’m a millennial, and I hate talking on the phone. In other news, the sky is blue. It’s not that I’m afraid of talking on the phone—I do it. I just don’t like it. And I don’t like it because I find there’s a disconnect. In an email, you’ve got pretty much all the time in the world to get your point across, use the right words, and strike the right tone. And in person, you can read a person’s expressions and body language to get a sense of how the conversation is going, which is ideal in an interview scenario. A phone call has none of that—both you and your conversation partner are just disembodied voices.
The phone screen or phone interview is often the first hurdle that you need to clear in getting a job but, because you can’t really see how a person is responding to your conversation, it adds another layer of removal from the situation and thus another level of anxiety. Here, I’ll get into some ways you can set yourself up for success during a phone screen.
No, don’t clean your house. (Although, in a Skype interview, you’ll probably want to do that—or at least the space directly behind you.) I just mean make sure you take care of all the nuts and bolts. Find a quiet space to take the call (i.e., kick your roommates or your kids out of the room), charge your phone, and make sure you’ve taken it off “Do Not Disturb” mode from the movies last night. I know this sounds like really simple advice that no one could possibly need reminding of—but have you ever forgotten to pack your deodorant for vacation? Exactly. So just double check—nothing could be more embarrassing than your phone going dead right as you’re saying that your personal motto is “Be prepared.”
2. Don’t Chew Gum. Do Take Names.
Listen up, hiring manager: I’m here to kick butt, take names, and chew bubblegum. And I’m all out of bubblegum.
I’m sorry, I had to fit that in here somewhere. For real, though—you better be all out of bubblegum during a phone (or any) interview. No gum, no food, and ideally no drinks, but I won’t make a hard-and-fast rule about it. The person you’re talking to can absolutely hear you masticating on the other end of the line, regardless of how sneaky you think you’re being.
And, to fully justify my reference, be sure to get the name and contact info of your interviewer. One, it makes it that much easier to follow up after the interview. And two, when you go in for an in-person interview, it’ll be nice to have that person’s name at your disposal rather than waiting anxiously for them to reintroduce themselves.
3. Use a Crib Sheet
It’s not cheating, it’s using your resources. This is one instance in which a phone screen is actually awesome—you can take as many notes as you want beforehand and, as long as you’re not rustling pages, you can reference them all you like. I do this constantly—I jot down the company’s important clients and business partners, the names of people in my potential department, and a little blurb about me for the dreaded “Tell me about yourself” question. For one, writing it all down makes me feel more prepared beforehand. But it also makes for easy referencing if my mind goes totally blank in the interview. Just make sure that if you do write out answers to questions, you’re not just reading off your notes. Think of them like index cards for a speech: They’re there to remind you of your main points, but you shouldn’t be entirely dependent on them.
4. Be Comfortable—Even If “Comfortable” Is a Little Weird
It’s probably for the best that I don’t make too many phone calls—I’d wear a meandering path in the floor of my apartment. It’s not even an anxiety thing, exactly. I just wander. If you’re a phone pacer, that’s fine—pace! Use wild hand gestures! Do what you gotta do to burn off nerves. I know it’s a little nerve-racking not being able to see your interviewer’s face, but they also can’t see you—take advantage of that.
That said, don’t get too comfortable. Even though your interviewer can’t see you, you should definitely get up, get dressed in something semi-professional, do your hair, and all that before taking the call. It’ll help you get into the mindset of making an impression.
5. Take Notes
Pencils ready, y’all. Remember what I was saying about taking down your interviewer’s contact info? You should also be writing down the main points of what they say. As the first step in the interviewing process, phone screens are often quite informative—this is your chance to get a good feel for the company, for the qualities needed in the position, for the personality of at least this potential member of your team, things like that. This is important info, and while you shouldn’t be hyper-focused on writing everything down, make sure you jot down the most important points. It’ll help you when you go in for the in-person interview—you’ll be able to demonstrate that you were listening, and you’ll know the notes to hit on the second round.
Read more here.
Feature | 11/22/2022
TOP 6 SKILLS EMPLOYERS ARE LOOKING FOR IN RECENT GRADS IN 2022
Top 6 Skills Employers Are Looking for in Recent Grads in 2022
Article from The Muse
Recent college graduates, I have good news and bad news. The bad news is that fewer employers than ever care about entry-level candidates’ GPAs—so all those exam and assignment grades that had you camping out in the library are worth less than you may have thought.
The good news is that fewer employers than ever care about entry-level candidates’ GPAs—so the actual knowledge and skills you gained from your education and other experiences matter way more than the numbers on your transcript.
According to a new report from the National Association of Colleges and Employers (NACE), 37% of employers intend on screening recent grad applicants by GPA—down from a recent high of 73.3% just a few years ago.
As a recent grad, you’re probably more aware than anybody that grades aren’t necessarily a reflection of how much you learned in school or what you’re capable of in a work environment. This shift “signals a recognition that screening by GPA may weaken efforts to build an inclusive workforce as it can put students who are balancing school with work and other responsibilities at a disadvantage in the job market,” NACE executive director Shawn VanDerziel said in a press release.
So what are employers looking for in recent grads? The skills and abilities that you’ll actually use in the workplace. Here are the attributes that the most employers ranked as very/extremely important for the 2022-2023 recruiting year:
- Problem-solving skills (61.4% of employers said this was very or extremely important): Employers want workers who can identify issues and come up with solutions. Regardless of what your major was, you likely had to evaluate different aspects of an issue or question, decide on possible methods for finding an answer or drawing a conclusion, execute on one of these methods, and back up your decisions—all vital components of problem-solving.
- Ability to work in a team (61%): Those group projects were good for something. You can also use team sports and other group extracurriculars to demonstrate your ability to work well with others.
- Strong work ethic (52.4%): You just finished college, and you may have managed part-time jobs and/or extracurriculars on top of that. So you know how to work hard and get things done. (Read more about how to demonstrate soft skills—like work ethic—in your job search.)
- Analytical/quantitative skills (50.4%): These are the skills that help you find, evaluate, and synthesize information to make decisions and/or solve problems. For example, in college you may have had to analyze data for science or business courses, or you may have had to choose the right sources and incorporate them into a research project or paper.
- Communication skills (50%): Communication skills encapsulates any way you might share or receive information from others. In college you participated in class discussions, put together presentations, sent emails, and submitted written assignments like papers and lab reports.
Bonus tips for showing off your skills as a recent grad
So how do you show companies that you have these skills and qualities? Here are a few pointers for your resume, cover letter, interview, and overall job hunt:
- Figure out what a specific company wants by closely reading the job description they’ve posted. Then, tailor your resume and other application materials to emphasize the skills you have that matter most for this job.
- Leverage internships and part-time jobs. These experiences show that you have the professional skills necessary to thrive in a full-time role. In fact, the NACE report found that relevant internship experience is the top deciding factor when there are two equally qualified recent grads competing for a position.
- Don’t restrict experience to paid work. Volunteer experience, extracurricular activities, projects, and coursework are all ways you could have acquired and used the skills employers are looking for. So mention that fundraising event you organized for a local hospital or the project that sent you out into the field to observe wildlife behavior.
- Don’t skip the cover letter. Cover letters can be hard to write, but even when they’re optional, they’re almost always worth it. You can use your cover letter to give specific examples of when you’ve used the skills an employer is looking for and connect your education and past experience to the entry-level role you want.
- Prepare for your interview. Be ready to answer common interview questions and prep a few stories that show how you’ve used skills and demonstrated qualities employers are looking for.
Feature | 11/22/2021
J-Term Class in Management Consulting - for Credit
Looking for a J-Term elective that combines career skills development, career exploration, and academic credit? You are invited to register for LPPS 3440: Introduction to Management Consulting and Strategic Decision Making. This course is a collaborative effort between the Batten School of Leadership and Public Policy and the UVA Career Center.
Register for LPPS 3440 here.
Course Dates & Times:
01/03/2022 - 01/14/2022
Mon, Tues., Wed., Thurs., Fri.
10:00am - 3:00pm
Focusing on skills development and career exploration aimed at making you an efficient problem-solver, this class is designed to set you up for success during the recruiting process and throughout your summer internship. The course is well-suited for those interested in the management consulting field and beyond. Students from all disciplines are encouraged to enroll as the skills gained will translate to a wide variety of careers (business, public policy, not-for-profit, law, healthcare, and more).
- Introduce students to the field of management consulting.
- Build core skills ranging from case and behavioral interview prep to excel and power point.
- Develop a structured problem-solving toolkit to aid in internship-readiness.
- Provide the unique opportunity to earn academic credit while working on a real-world consulting project for an actual client. (An amazing resume-building opportunity!)
- Offer opportunities for formal networking, coaching, and mentoring from UVA Alumni at major consulting firms.
- Continued case interview preparation support even after the course is over.
Each student team will be assigned an alumni mentor/coach from a major consulting firm. The “capstone” event will be case competition judged by UVA Alumni from notable consulting firms.
A few reflections from students who took the J-term course last year:
I would recommend LPPS 3440 to anyone looking to learn more about and get a jumpstart on management consulting recruiting, but also to those generally interested in learning a new and challenging way of problem-solving. Before taking Introduction to Management Consulting and Strategic Decision Making, I was unsure of what management consultants actually do, let alone if it was a career path for me. Professor Boler and the entire teaching team not only gave me the core practical and people skills to succeed in this field, but also helped me set goals and envision my niche in the consulting world. One of the best aspects of LPPS 3440 is that it offers career development, combined with academic credit. In particular, the instructional opportunities on how to succeed in behavioral and case interviews were key to recruitment for me. The coaching, mentoring, and networking opportunities are unparalleled. Professor Boler continues to offer case interview preparation long after the course, and is really available as a mentor and career coach for the class. This format of extended support keeps your problem-solving toolkit learned in-class honed and ready for interviews and internships. Furthermore, LPPS 3440 is a brilliant resume builder because it gives you an early, real-life consulting experience, but with the support of an academic background. It also provides an easy and exciting talking point for interviews, that shows employers you are ready for the challenges of an internship. Students interested in any field would benefit from.
-Anna Thompson, UVA 23 (Interning at McKinsey & Co this upcoming summer)
I cannot recommend LPPS 3440 enough if you are thinking of recruiting for consulting, business, technology, or any similar roles! More and more employers are requiring cases in their interview process (not just consulting firms) and this class will give you a head start in the case preparation process. Professor Boler will run through the basics of casing in class sessions and even after the course ends, he will continue to reach out for 1-on-1 mock case/behavioral interviews. In addition to case practice, this class will provide you with invaluable teamwork experiences and the opportunity to work on a consulting project for a real client. You will also have the chance to improve your Excel and PowerPoint skills, as well as network with alumni who will mentor you on your project. This class will provide you with a comprehensive introduction into the business world and I highly recommend it for anyone looking to develop their career skills!
-Osama Elsayed-Ali, UVA ’23 (Interning at Capital One this upcoming summer)
LPPS 3440: Introduction to Management Consulting and Strategic Decision Making with Professor Boler was integral to my success with the recruitment process for consulting. I took it during J-Term of my second year which allowed me to develop valuable technical skills, get a leg up with networking, and gain real-world experience ahead of the early internship recruitment cycle. Professor Boler is very engaging and truly dedicated to helping his students succeed throughout this course and beyond. From introducing me to alumni in firms such as Bain and Accenture, to running through mock case interviews, to learning how to effectively talk about my resume, Boler’s course allowed me to familiarize myself with the world of consulting. It was unlike any other course I have taken at UVA and I thoroughly enjoyed it.
-Andrea Madrigal, UVA ‘23 (Interning at McKinsey & Co. this upcoming summer)
Get more information, learn about the teaching team, and read more reflections from former LPPS 3440 students here.
We hope you will consider this J-Term opportunity to earn academic credit while building your resume, expanding your skills, and creating a network of peers and professionals.
Feature | 08/12/2016
Feature | 11/01/2018
MarketWatch: Why Oil Prices are Plunging...
Why oil prices are plunging despite U.S. sanctions on Iran’s energy sector
The oil market has had nearly six months to assess the possible effect of U.S. sanctions on Iranian oil exports. Surprisingly, the prospect of significantly tighter global supplies has resulted in lower prices.
President Donald Trump announced on May 8 that he would end the participation of the United States in the Joint Comprehensive Plan of Action, a 2015 pact aimed at curbing Iran’s nuclear activities, signed by Iran, the five permanent members of the United Nations Security Council, and the European Union.
Feature | 05/01/2020
Devaki Ghose Wins Graduate Student Award at EIIT Conference
In October 2019, Devaki Ghose won the Graduate Student Award at the 2019 Empirical Investigations in International Trade Conference for her paper "Trade, Internal Migration, and Human Capital: Who Gains from India's IT Boom?" A link to past student prize winners can be found here, https://www.freit.org/EIIT/2019/GradComp.php .
Feature | 03/26/2023
17 Tips to Survive Your Next Networking Event
Article written by Darrah Brustein from Forbes. The ECO pulled our top 15 tips most applicable to the 2023 Undergraduate Economics Career Forum to feature below.
You arrive alone. Your heart is beating a little faster than normal and suddenly all of your charisma and charm go out the window. You try to lock eyes with someone so that you can find a temporary home in what can feel like a sea of strangers. But everyone looks happily engaged in conversation.
While this might sound like your experience at a middle school dance, it's also what many people feel when they enter a networking event. These are completely natural reactions, even for the biggest extroverts. The great news is that people go to these events to meet strangers, so you’re in the same position as everyone else. Here are 17 helpful tips for navigating a networking event and making the most of your time there:
- Be yourself. Networking events are meant as jumping-off points for relationship building. If you can't be yourself, you’ll be starting off these new relationships with a lie. Don’t try to be the person you think others want to meet. Be genuine. The people you connect with when you are authentic are the ones you’ll want to stay in touch with.
- Set reasonable expectations. When attending an event, understand what you are there to do. Is your goal to feel out a new organization and get to know the vibe? Is it to meet five new people? Is it to meet one or two specific people? These are all reasonable expectations and it takes a little pre-planning to set these goals.
- Take notes. When you ask for someone's card after having a great conversation, take notes on their business card after they walk away or immediately after the event. This will help you to be more specific in your follow-up.
- Introduce yourself to the organizer. A great way to get to know more about an organization and who is involved is to seek out the event organizer and introduce yourself. He/she can then help point you in the right direction and can introduce you to other attendees to get you off on the right foot.
- Treat people like friends. Would you go to a friend, interrupt his/her conversation, hand over a business card, talk about yourself and then walk away? Of course not. Treat new networking relationships as you’d treat your friendships. Build rapport and trust that business will happen.
- Ask great questions. The only way to get to know someone else is to ask them genuine and thoughtful questions. It’s always best to walk away from a conversation having allowed the other person to speak more than you did. Not only will they feel great about the conversation, but you’ll have gotten to know a lot about him/her, helping you plan and execute your follow-up more thoughtfully.
- Sharing is caring. This is no less true now than it was in kindergarten. If you are willing to share your contacts and resources, others will be more likely to help you as well. Develop a sincerity in your giving nature without expectation of something in return.
- Consider their network. When meeting people, it’s important to remember that even if they can't help you directly, someone in their network probably can.
- Treat connecting like a puzzle. If you’re asking great questions and considering how you can help others, you’ll naturally start to draw connections between who you are talking to and others in your network. Offer to make these connections! Perhaps they are two people who have the same target client industry, or maybe you know that a contact of yours is looking for the service the other provides. Encourage both parties to follow up with you after they meet so that you can hear what came of their interaction. It will not only pay dividends for you, it will also help you hone your matchmaking skills.
- Don’t be a card spammer. The closest thing to you throwing all of your business cards away is handing them out to anyone and everyone you meet without them asking. If you haven’t built enough rapport with someone to encourage them to ask for your card, don’t offer one.
- Be specific. The more specific you can be about what you do and what others can do to help you (if they ask), the better. Tell them the names of a few specific companies you’re looking to work with.
- Ask yourself why they should care. Consider why the person you’re speaking to should care about what you’re saying. Craft your conversations accordingly. You only have a short time to make an impression, so try to make it favorable.
- Be engaged. Keep eye contact with your conversation partner. Nod your head and tilt your body towards them when you’re speaking. These small cues go a long way towards making them feel like you care, which helps you to build rapport and trust: the foundation on which you can later do business.
- Do NOT "work the room." Don't try to meet as many people as possible in a room; focus on making just a few solid connections. People can sense when you’re simply speaking with them to grab their card and go. These short interactions will not be memorable and therefore work against you. Aim to meet a few people and begin a meaningful dialogue.
- Don’t be afraid to join in. There is nothing wrong with joining a conversation and waiting for a natural break in the chatter to introduce yourself. In most cases, the people who are already speaking will enjoy the interruption because it gives them a chance to meet someone new. If you sense that you’ve entered into a serious discussion, it’s okay to politely excuse yourself.
Now you're prepared to rock your next networking event and hopefully build some meaningful relationships in the process. And remember; do talk to strangers!
Darrah Brustein is the founder of Network Under 40, a networking organization for young professionals.
Feature | 08/06/2019
Diego Legal-Cañisá Presents at 9th European Search & Matching Network Conference
In May 2019, Diego Legal-Cañisá presented his JMP on "Unemployment Insurance and Consumer Bankruptcy" at the 9th European Search & Matching Network Conference in Oslo, Norway, attended by prominent researchers such as Espen Moen, Guido Menzio, and Rasmus Lentz. Diego says the data shows that Chapter 7 bankruptcy rates across counties and Unemployment Insurance (UI) generosity are negatively correlated. This fact suggests that Chapter 7 bankruptcy and UI are substitute programs and raises the question about the implications of consumer bankruptcy for optimal UI. Diego constructed a model matching main statistics regarding the U.S. unsecured credit and labor markets, including the main features of Chapter 7 Bankruptcy and UI. The model successfully accounts for the negative relationship between bankruptcy rate and UI generosity observed in the data. In the model, for low levels of UI, a more generous UI reduces bankruptcy and allows more debt. As UI keeps increasing, employment falls and lenders react by contracting credit supply. From an ex-ante welfare perspective, an increase in the replacement rate from 50% to 60% is welfare reducing when bankruptcy is allowed but would be welfare increasing without bankruptcy.
Feature | 09/24/2018
Dan Savelle Presents at EARIE'S Rising Stars Session
Dan Savelle presented his paper, “Discrete Choices with (and without) Ordered Search,” at the 45th Annual Conference of the European Association for Research in Industrial Economics (EARIE) in a Rising Stars Session in Athens, Greece. The Conference consisted of contributed and invited sessions across various IO topics including Search, Platform Economics, Advertising, Auctions, Mechanism Design, Trade and IO, and Financial Markets, with keynote talks by Jakub Kastl, Peter Neary and Xavier Vives. Dan's paper relates two literatures in the field of Industrial Organization, ordered search and classic discrete choice. In IO, the selection choices of a consumer, such as a family looking to buy a house, are often represented by the classic discrete-choice model of decision making, which posits a consumer who receives a match value for each option and selects the option with the highest match value. However, in many markets, consumers may not know their values without first incurring a cost. For example, the family searching for a home incurs costs in terms of time and effort. In this context, the consumer starts with information that can be updated through some costly process like ordered search, a discrete choice model where a consumer selects from a set of products after paying a search cost to learn each product's actual value. Dan proves that in situations where consumers correctly anticipate the choices of firms (e.g prices), ordered search and classic discrete-choice are equivalent models for describing the selections of consumers.
Feature | 12/14/2021
ECO Article: Hiring Projections Up for Class of 2022
From the National Association of Colleges and Employers (NACE), November 2021, by Kevin Gray
Employers plan to hire 26.6% more new graduates from the Class of 2022 than they did from the Class of 2021, according to NACE’s Job Outlook 2022 report.
The data NACE collected in its Job Outlook 2022 survey appear to be in line with job opening trends in general. With job openings exceeding 10 million and the unemployment rate now below 5%, employers are obviously viewing a very competitive labor market.
This is also evident in the Job Outlook 2022 results that show that almost 60% of responding employers have plans to increase hires this year, compared to just 16.5% last year. Furthermore, the largest group of respondents (48.6%) rate the overall job market for Class of 2022 graduates as “very good” and 14.1% rate it as “excellent.” This is compared to last year, when just 3.9% of respondents rated the overall job market for Class of 2021 graduates as “very good” and 0.5% deemed it “excellent.”
The Job Outlook survey is a forecast of hiring intentions of employers as they relate to new college graduates. Data for the Job Outlook 2022 survey were collected from August 18, 2021, through October 1, 2021. Of the 157 total respondents, 116 were NACE employer members, representing 15.7 percent of eligible member respondents. The Job Outlook 2022 survey was also distributed to nonmember companies from which an additional 41 responses were received. The Job Outlook 2022 report is available in MyNACE.
Figure 1: Job Outlook Hiring Projections, 2011 – 2022*
Source: Job Outlook 2022, National Association of Colleges and Employers. *Projections are for U.S. locations only.
DATA BITES (Ask the ECO for access to data at the links below.)
Average percent of eligible interns converted to FTE
2021 Internship & Co-op Report
Average percent of eligible interns receiving a job offer
2021 Internship & Co-op Report
Mean hourly rate for bachelor’s-level intern
2021 Guide to Compensation for Interns & Co-ops
Percentage of employers who screen candidates by GPA
Job Outlook 2021 Spring Update
Percent of employers expecting to conduct “hybrid” internship programs this summer
Spring 2021 Quick Poll: Summer Internships and Fall Recruiting
Percent of employers who expect internship programs to have a virtual component
August 2021 Quick Poll: Fall Recruiting
Feature | 08/25/2015
Meeting of the Minds
"Amid global stock market concerns, University of Virginia economists made the short drive down Interstate 64 to an institution responsible for implementing many of the policies they research: the Federal Reserve Bank of Richmond.
Friday’s biannual research symposium began two years ago when members of U.Va.’s economics faculty realized that the institutional partnership was not what it could be, despite numerous individual collaborations.
“The Federal Reserve Bank of Richmond Research Department is a world-class collection of researchers working on frontier problems in many fields, including banking, macroeconomic theory and household finance,” U.Va. professor Eric Young said. “The opportunity for faculty and students to interact and learn from these researchers was too good to pass up.” (Caroline Newman).
Learn more about this partnernship here.
Feature | 04/15/2018
4TH YEAR DEVAKI GHOSE, PRESENTS AT CEP IN GENEVA
In April 2018, 4th year student Devaki Ghose, presented a paper at a workshop--cohosted by the World Trade Organization (WTO), the International Monetary Fund (IMG), the World Bank (WB), and the Center for Economic Policy (CEP)--held at the WTO’s Geneva headquarters, titled Trade Policy, Inclusiveness and the Rise of the Service Economy. The workshop’s goal: to dig deeper into the question of how and to what extent services trade can benefit from removing barriers to trade and how these benefits can translate into positive societal outcomes. From a field of established presenters and authors, including many professors from prestigious universities, such as the London School of Economics and the University of Nottingham, as well as policy practitioners from international organizations such as the WTO, IMF, WB and the OECD, Devaki was one of 10 selected to offer a full 45-minute presentation. In her paper, “Did the Rise of Service Off-shoring and IT-Boom Change India’s Economic Landscape?”, she quantifies how the rise in the India’s IT industry, fueled by off-shoring demand from abroad, changed India’s growth story by looking at changes in educational outcomes, employment and wages; she also studies how this IT boom was fostered by the growth of engineering education in India. Devaki, who has previously presented at conferences and seminars at Dartmouth college, University of Nottingham, the Lindau Nobel Laureates Meeting and the Eastern Economic Association Conference, described the workshop as “a unique opportunity to present my work to both academicians and policy makers. I believe feedback from this audience will enrich my research and help me develop future collaborations with co-authors in my field.”
Feature | 04/22/2020
Hundanol Kebede Presents Research at MWIEDC
Hundanol presents his paper, “The gains from market integration: The welfare effects of new rural roads in Ethiopia,” at the Midwest International Conference on Development Economics (MWIEDC), held at Purdue University. In his paper, he estimates the welfare gains from a massive rural road expansion project that doubled the total road length in the country between 2011 and 2015. He uses tools from international trade theory and details household level data to quantify household-level welfare gains from the road expansion and how much of that is attributed to trade mechanisms. He shows that the road expansion increased market integration and village specialization in comparative advantage crops. One of the paper’s novel contributions is that it shows how increased road connectivity would cause household production decisions to be dictated by market prices rather than consumption preferences – commonly known as separability. That is, road connectivity decreases the correlation between household land allocation across different crops and budget allocation across crops. This leads to significant efficiency gains because land will be reallocated to crops that have higher market value.
Feature | 08/02/2017
ARTICLE - HOW TO MASTER EFFECTIVE STORYTELLING IN INTERVIEWS
"You feel nervous about your career stories, and the fact that you have to tell stories in interviews drives you bananas. You're not sure whether your stories are even any good. You don't know if what you did was even that special." -Natalie Fisher
Click here to read the rest of the article
Feature | 08/17/2019
The Best Ways to Improve Your Communication Skills
The Best Ways to Imrove Your Communication Skills
By: Melanie Pinola
We learn to talk at an early age, but most of us don’t have formal training on how to effectively communicate with others. That’s unfortunate, because it’s one of the most important life skills there is, and one you use your entire life. Whether you want to have better conversations in your social life or get your ideas across better at work, here are some essential tips for learning to to communicate more effectively.
Watch your body language
You tell your partner you’re open to discussion but your arms are crossed; you say you’re listening but haven’t looked up from your phone yet. Our non-verbal and non-written cues often reveal more than we think they do. Whether it’s how you make eye contact or how you hold yourself during a video interview, don’t forget that you’re constantly communicating even when you’re not saying a word.
One strange way to tap into your body for better communication? Think about your toes. Or adopt a power pose if you need to boost your confidence before a big talk. Or learn how to read other people’s body language so you can respond appropriately.
Get rid of unnecessary conversation fillers
Ums and ahs do little to improve your speech or everyday conversations. Cut them out to be more persuasive and feel or appear more confident. One way is to start keeping track of when you say words like “um” or “like.” You could also try taking your hands out of your pockets or simply relaxing and pausing before you speak. Those silences seem more awkward to you than they do to others, trust us.
Have practice conversations
If you don’t think you’re great at communicating with co-workers or people you don’t know very well, practice on friends and family that you’re comfortable with. Ideally, find people who will give you honest feedback and let you know if you’re getting too quiet, personal or might make someone else feel uncomfortable.
Have a script for small talk and other occasions
Small talk is an art that not many people have mastered. For the inevitable, awkward silences with people you hardly know, it helps to have a plan. The FORD (family, occupation, recreation, dreams) method might help you come up with topics to discuss, and you can also turn small talk into conversation by sharing information that could help you and the other person find common ground. Hey, all that small talk could make you happier in the long run.
Tell a story
Stories are powerful. They activate our brains, make presentations suck less, make us more persuasive and can even help us ace interviews. Learn the secrets of becoming a phenomenal storyteller with these rules from Pixar or by simply using the word “but” more to structure your narrative. Everyone’s got at least one great story in them.
Ask questions and repeat the other person
Let’s face it, we’ve all drifted off when someone else was talking or misheard the other person. Asking questions and repeating the other person’s last few words shows you’re interested in what they say, keeps you on your toes and helps clarify points that could be misunderstood (e.g., “So to recap, you’re going to buy the tickets for Saturday?”).
It also helps for small talk and to fill in awkward silences. Instead of trying to stir up conversation on mundane topics like the weather, ask the other person questions (e.g., “Got any plans for the summer?” or “What are you reading lately?”) and engage in their answers. It’s more important to be interested than to be interesting.
Put away the distractions
It’s pretty rude to use your phone while someone’s talking to you or you’re supposed to be hanging out with them. Maybe we can’t get rid of all our distractions or put away technology completely, but just taking the time to look up could vastly improve our communication with each other.
Tailor your message to your audience
The best communicators adjust how they talk based on whom they’re speaking to; you’d probably use a different style of communication with co-workers or your boss compared to when you’re speaking with your significant other, kids or elders. Always try to keep the other person’s perspective in mind when you try to get your message across.
Be brief, yet specific
There’s actually a BRIEF acronym—Background, Reason, Information, End, Follow-up—to help you keep your emails short without leaving anything out. It’s a good policy for both written and verbal communication (I’ve always felt that my job as a writer was to clearly get the point across and then get off the page as soon as possible. Just two more items on this list!) Clear and concise are two of the 7 Cs of communication, along with concrete, correct, coherent, complete and courteous.
Up your empathy
Communication is a two-way street. If you practice taking the opposing viewpoint, you can reduce the difficulty and anxiety that sometimes arises when trying to truly communicate with others. (For example, knowing what your significant other really means when she says she’s too tired to talk.) Developing empathy helps you better understand even the unspoken parts of your communication with others, and helps you respond more effectively.
Listen, really listen
Finally, going hand-in-hand with most of the points above, the best thing you can do to improve your communication skills is to learn to really listen—to pay attention and let the other person talk without interrupting. It’s hard work, we know, but a good conversation is a bunch of words elegantly connected with listening. Then, even if your communication styles don’t match, at least you’re both working off the same page. And hopefully the other person will be attentively listening to you too.
Feature | 11/27/2018
How A.I. May Affect Your Internship and Job Search
This article covers how AI may affect your internship and job search, and how you may be able to influence this by managing your electronic footprint and social media presence.
Secondly, the companies listed are potential employers for our students. Tip: Consider organizations that you read about, especially those that are doing work that interests you, as employment possibilities.
Wanted: The ‘perfect babysitter.’ Must pass AI scan for respect and attitude.
By Drew Harwell
When Jessie Battaglia started looking for a new babysitter for her 1-year-old son, she wanted more information than she could get from a criminal-background check, parent comments and a face-to-face interview.
So she turned to Predictim, an online service that uses “advanced artificial intelligence” to assess a babysitter’s personality, and aimed its scanners at one candidate’s thousands of Facebook, Twitter and Instagram posts.
The system offered an automated “risk rating” of the 24-year-old woman, saying she was at a “very low risk” of being a drug abuser. But it gave a slightly higher risk assessment — a 2 out of 5 — for bullying, harassment, being “disrespectful” and having a “bad attitude.”
The system didn’t explain why it had made that decision. But Battaglia, who had believed the sitter was trustworthy, suddenly felt pangs of doubt.
“Social media shows a person’s character,” said Battaglia, 29, who lives outside Los Angeles. “So why did she come in at a 2 and not a 1?”
Predictim is offering parents the same playbook that dozens of other tech firms are selling to employers around the world: artificial-intelligence systems that analyze a person’s speech, facial expressions and online history with promises of revealing the hidden aspects of their private lives.
The technology is reshaping how some companies approach recruiting, hiring and reviewing workers, offering employers an unrivaled look at job candidates through a new wave of invasive psychological assessment and surveillance.
The tech firm Fama says it uses AI to police workers' social media for “toxic behavior” and alert their bosses. And the recruitment-technology firm HireVue, which works with companies such as Geico, Hilton and Unilever, offers a system that automatically analyzes applicants' tone, word choice and facial movements during video interviews to predict their skill and demeanor on the job. (Candidates are encouraged to smile for best results.)
Feature | 08/30/2016
ECO Newsletter 8.30.16
Economics Internship and Job Search Basics Workshops - Now open!
Feature | 05/04/2017
16th CEPR Postgraduate conference at Nottingham
Devaki Ghose presents her paper "Identifying the Role of Vertical Linkage in Agglomeration: Empirical Evidence from India" on Thursday, May 4th, 2017 in University of Nottingham, UK.
Feature | 04/03/2018
UVA economist Adam Leive examines the health consequences of Olympic success
Feature | 06/07/2015
A Beautiful Algorithm?
"The online ad that led you to your new favorite pair of shoes might seem innocuous, but according to University of Virginia Associate Professor of Economics and Computer Science Denis Nekipelov, the algorithms behind such ads could lead to an unforeseen financial crash – something he hopes his research will prevent.
Nekipelov’s study of the automation of online advertising, co-authored with Vasilis Syrgkanis, a researcher at Microsoft, and Éva Tardos, a professor at Cornell University, struck a nerve among industry giants and was named “Best Paper” at the ACM Conference on Economics and Computation, a prestigious international conference for computer science.
Companies like Google, Microsoft or Facebook allocate advertising space through automated auctions. Advertisers place bids in the hope that their product appears when you search for something like “black high heels.” Humans are physically incapable of placing real-time bids for every query, so automating the bid process was a natural step.
In theory, automated auctions should arrive at an optimum price via John Nash’s equilibrium principle, enshrined in pop culture by the movie “A Beautiful Mind.” The principle assumes bidders fully understand other bidders’ strategies and will use that knowledge to arrive at their own stable bidding strategies. In practice, Nekipelov’s research demonstrates that the Nash equilibrium is unrealistic for today’s online advertising markets." (Caroline Newman)
See the full story here.
Feature | 01/18/2022
“Phillip Jefferson, UVa PhD (1990), nominated to serve on the Federal Reserve Board
Feature | 12/11/2019
PhD Candidates Present at SEAS
In November 2019, Ekaterina Khmelnitskaya and Miguel Mascarua presented their research at the annual conference organized by the Southern Economic Association in Fort Lauderdale, Florida. This large three-day conference included presentations by a diverse set of scholars from universities and government research organizations from all across the United States, including the top universities like Harvard, Princeton, Columbia, etc. Ekaterina presented her paper “Competition and Innovation in the Pharmaceutical Industry” that studies how competition between novel drugs that have not yet entered the market affects the rate of innovation in the industry. She also discussed a paper presented by a researcher at the Federal Trade Commission. Both papers were part of the panel on Industrial Organization and Health. Miguel presented two papers during the sessions. The first one was his job market paper “Weak laws, informality, and organized crime: An establishment-level approach” that quantifies the costs of weak institutions on aggregate output. Also, he presented a work-in-progress titled “A whiter shade of wealth: Skin color discrimination and the distribution of wealth.” Both sessions were productive since he received excellent feedback that will improve the quality of his work.
Feature | 12/18/2018
The Rise of a Global Media Firm
GROWTH SPOTLIGHT: VICE
Uncubed, a UVA-founded tech/recruitment company in NYC specializing in helping undergraduates find employment in tech firms, hosts webinars on diverse topics. The ECO encourages you to check out Uncubed's website to learn more about the best in class and up-and-coming tech firms that are hiring! And they host a huge career fair each fall in NYC. Read on...
VICE's rise from Canadian counter-culture rag to multi-billion dollar global media empire is an astounding tale of growth.
But with that scale comes great complexity. Including the technical challenges of serving up VICE's signature content - from a look at rising cannabis use among senior citizens to the emotional toll of shopping online – in 35 countries and nearly 20 languages.
Hear how the company handles this and learn about VICE's inner workings from Jessica Brown, Direct of UX, and others.
(This is the latest video in Uncubed's collaboration with Amazon Web Services, where we talk with the people building the world's most impactful brands.)
Feature | 08/16/2021
ECO Article: Resumes and Best Practices
How to Write a College Resume That’ll Get You Hired (Plus an Example!)
by Meredith Pepin at The Muse
James Woodson/Getty Images
When you’re in college, a strong resume is one of the first things that helps you land an internship or part-time job. It represents you to employers when you can’t be in the room (yet!) and is essential to convincing them to call you for an interview based on your previous experiences and current skills. Whether you have a resume you used for college applications or are starting completely from scratch, putting effort into your resume now gives you a higher likelihood of success and sets a solid foundation, making it a breeze to update in the future as you—and it—evolve.
If you feel like you have nothing to put on your resume, don’t worry. After advising hundreds of students on these documents, I know you have more to offer than you think! I frequently meet first-year college students who believe they can’t include many of the things they did before college on a resume. You absolutely can—and you should—until those get outranked by all the other awesome things you’ll accumulate over the course of your college career. Even if you’re a freshly minted high school graduate, you have valuable skills and experiences employers want, and this guide can help you showcase them.
Read on to learn about what goes on your resume, how to format it, and what else you can do to ensure it makes you shine—and to see our college resume example.
What Goes on a College Resume
In setting up your resume, you should use a few core sections to help you easily lay out all the information a recruiter is looking for when they make quick decisions about whether or not to interview you. (And yes, recruiters do skim, reportedly spending an average of 7.4 seconds making their first pass on a resume, so you want to make a good impression fast).
It’s traditional to start with your basic contact information at the top of your document including your name, email, phone, and the city and state where you live. Use your full name (and maybe bump up the font a point or two because you’re a big deal!), and if you have a nickname you prefer, you can include it in parentheses.
Use your college email as it’s typically professional and establishes your educational brand. Now is also a good time to check that your phone’s voicemail greeting is up-to-date. In case a recruiter calls while you’re busy—or you don’t recognize the number and swipe it to voicemail—this greeting could be their first impression of you. Even recording something as simple as, “Hello, you’ve reached Christine. Please leave a message and I will return your call as soon as possible,” can help them feel confident they reached the right person and that you’re able to present yourself professionally.
Your physical location can be based either on your school’s address or your permanent home address. If you’re targeting opportunities in one location or the other, include the most local address so they know you’re familiar with the area (and likely won’t have a problem finding housing).
Pro tip: Save space by listing your email, phone, and location all on one line. If you have a LinkedIn profile, you can add that in your contact information section as well. The result might look like this:
Stillwater, MN ∙ (000) 765-4321 ∙ email@example.com ∙ www.linkedin.com/krperez
For college students, education should be right below the contact information on your resume. This immediately orients your reader to the fact that you’re a current student and conveys important information, like what you’re studying. What you include in your education section can also demonstrate that you’re a good match for the opportunity you’re targeting, increasing your chances of a recruiter call.
The basics you should always include are:
- Your school’s name
- Your expected graduation date
- The type of degree you’re pursuing: For example, you might write “Bachelor of Arts” or “Associate’s Degree.”
- Any majors, minors, or concentrations: If you’re applying to opportunities in these areas, this will help an employer see you already have some knowledge and a motivation for working with them.
Depending on your personal strengths and what jobs you’re applying for, you might also want to include:
- Your GPA: But only if it’s strong. (It’s usually good to include 3.5 and above.) If you stumbled through some of the general requirements you had to take but nailed all the courses in your major, consider adding two GPAs—your cumulative GPA and your major GPA—to show you have stronger grades in your chosen discipline.
- Standardized test scores: If you’re applying to opportunities in quantitative fields, like finance or consulting, you might consider listing standardized test scores like the SAT or ACT.
- Relevant coursework: Selecting and highlighting three to five classes that match closely with the specific opportunity you’re applying to is a really fast way to tailor your resume and make you a more attractive match. For example, if you’re targeting an internship in computer science, you can list your “Introduction to Python” and “Introduction to Algorithms” classes.
- Other colleges or universities you’ve attended: If you’re a transfer student or you studied abroad at another university, adding these schools can signal that you have other strengths, such as cultural awareness or language skills, or give you a chance to highlight key classes you took elsewhere.
- Your high school: If you’re shooting for an opportunity local to your high school or went somewhere well-known, then you may want to keep that as your last entry for educational experience. Otherwise, high school is the first entry to cut when you’re short on space. It has gotten you to where you need to be, but the focus should now be on the higher-level degree you’re working on and you should dedicate as much space as you need to boast about all of your amazing college accomplishments!
Here is an example of what a completed “Education” section might look like:
Candidate for Bachelor of Arts degree, St. Olaf College, Northfield, MN
Double Major: Political Science and Economics ∙ Expected Graduation: May 2023 ∙ GPA: 3.7
Relevant Coursework: Introduction to Political Theory, Politics and Human Rights, Global Interdependence
The experience section is where the real substance of your resume lives. This is the chance to show a snapshot of the jobs and internships you’ve had (if any), the work you did, the skills you used, and your accomplishments. Let’s talk about what experience you can include, how to pull out skills and demonstrate your value, and what it should look like on the page.
Experience can cover a lot of things. It can be full-time jobs, part-time jobs, internships, or research. Unpaid work—like volunteer and community roles—counts too! Don’t discount the value these other kinds of experiences can add to your resume just because you didn’t earn money. You can leverage all of your experiences on a resume by pulling out transferable skills, or broader talents you’ve developed that will be beneficial even if you aren’t applying to the same type of role.
Take a significant class project, for example. That can be built out as experience as long as you’re clear it was for a class. If you worked on a group project, you probably collaborated on a team, organized, worked under deadlines, completed some independent tasks, presented your work to others, and had some kind of outcome. Even if you were doing something that might not seem widely applicable, like designing a rocket, many of those skills can transfer over to another role. Say you had to do cost comparisons for the materials you selected for your rocket, those same analysis skills could be useful to a business role or for a part-time job where you have to order supplies for a restaurant.
You can also create targeted headers for your Experience section(s) if there are themes that correlate with the internship or part-time job you want. Specific headers—such as “Research Experience,” “Marketing Experience,” or “Software Engineering Experience”—can immediately help your reader see that you’re aligned with the needs they have for their open role.
If you don’t have something that specific, it’s OK. You can still shift your experiences into categories like “Relevant Experience” and “Additional Experience.” For example, if you’re applying to research roles, you’d want to put any research related work under “Relevant Experience,” and your cashier job and website building side hustle would go under “Additional Experience.” These two headers are great for allowing you to bump the best of your experiences up toward the top of your resume.
Once you decide which headers to use, make sure each entry includes basic information—the title of your role, the organization’s name, the location, and the dates you worked there—along with bullet points describing what you accomplished. For example:
Intern, Minnesota State Senate, St. Paul, MN
June 2019–August 2019
- Researched prior legislation and current bills, summarized content, and identified alternate actions
- Coordinated the schedule for Senator Harriet Maxwell and kept accurate minutes for all meetings
- Drafted memos for important interoffice updates outside of normal meeting schedule
A skills section is a great way to make your most valuable knowledge and expertise stand out—and be easily spotted by a recruiter. Which skills belong in your own skill section depend on the jobs you’re applying for, so be sure to read the job description carefully to figure out what skills are most relevant for each particular role.
Skills that might appear in this section include (but are definitely not limited to): technical skills; software or other tools you know well; languages you can speak, read, or write; other job-specific skills like using a POS system or cash register; and, for some jobs, even your ability to drive different vehicles.
Once you’ve decided which skills are most important for this role, you can simply list them on your resume. If you have a few different types of skills, you can separate them into categories. For instance:
Languages: Spanish (Fluent); Russian (Basic)
Note that just listing your skills in a separate section isn’t always enough. You also want to make sure to describe how you’ve used key technical and job skills elsewhere on your resume (usually in the bullet points of your experience section).
Other Optional Sections
There are some other sections you can consider adding depending on your experiences and what your target employer might be looking for. For example, a consumer product firm might be looking for examples of design work. In that case you could add a section called “Design Projects,” which might include significant assignments from some of your academic classes or independent projects that you’ve developed in your spare time. Don’t be afraid to include links to your work if you’re submitting your resume online! (Just avoid hyperlinking out from important words, as this could trip up the online systems that scan most resumes.)
Another popular section is “Leadership Experience” where roles like being the vice president for one of your student organizations or being a co-captain for your athletic team would be a good fit. Employers love to see leadership themes on resumes, as it demonstrates the transferable soft skills they’re looking for like communication, collaboration, and initiative.
An “Activities” section can also demonstrate skills. If you dedicate time to learning more about consulting cases with your consulting club, you likely increased your analytical skills in a team setting, which is valuable for many business roles. If you’re an athlete, you can showcase your ability to manage your time, create or be part of a cohesive team, or organize and motivate teammates during practices. These skills gained as an athlete can be ideal if you’re applying for a heavily collaborative role. Additionally, if the activities that you’re involved in are directly applicable to the job, these are powerful to include as it demonstrates interest and dedication. So if you’re majoring in healthcare administration, adding that you’re a member of the Healthcare Society on your campus can be a major plus for an employer.
Any optional sections like these will usually need to be set up similar to your experience entries. Include the organization (or class), your role, the location, the dates you participated, and your key achievements. Here is an example of an entry you might put under a “Leadership” heading:
Head Delegate, Model United Nations, Northfield, MN
September 2019–April 2020
- Researched global topics such as human rights and sustainable energy and developed persuasive positions
- Represented Chile as a delegate in an education simulation at a conference with 2,000+ participants; negotiated with others and collaborated on common goals to deliver resolutions on political issues
- Liaised between the delegation and the Secretariat, serving as a first point of contact and resolving issues
6 Tips for Writing a Successful College Resume
From formatting to crafting strong descriptions, attention to detail can pay off when tackling your resume. Here are six tips to help you develop a great resume:
1. Choose the Right Resume Format for You
Your parents or other family members might share their resume and have you copy it because it has worked for them. But they’re at a different place in their career and their format may not be the best one for you.
There are three main types of resume formats for laying out your experiences, skills, and education—the functional resume, the combination/hybrid resume, and the chronological resume. The chronological format is almost always the best fit for college students.
With a chronological resume, you’ll list your experiences within each category/section in reverse chronological order (most recent to least recent, based on end date). Since this is the most traditional and common resume format, recruiters are familiar with it and can quickly see what you have to offer.
2. Be Clear and Consistent
In terms of resume formatting, there are a lot of small choices to make about things like font, style, and spacing. Whatever you decide, make sure it is easily readable, consistent, and not overly fancy. You could have the greatest content in the world, but if it’s too difficult or annoying to read, a recruiter is going to move on.
In order to make a document easy to scan, use clear headers for your sections. Maybe they’re bold and in all caps, or maybe they’re a couple font sizes larger, but they should be the same throughout your resume. The rest of your content should be consistent as well. For example, all your organization or previous employer names might be in italics, your dates all right aligned, your locations in plain text, and the titles of your roles in bold. Keeping things uniform helps the recruiter easily absorb all the relevant information you want them to have.
3. Make Sure It Can Pass Through an Application Tracking System (ATS)
Formatting is also important because your resume will likely pass through something called an applicant tracking system (ATS), a type of software that helps recruiters organize incoming candidate applications. Recruiters can apply filters or search for keywords, and the ATS will show candidates matching the desired criteria, making it easier to identify good candidates in large applicant pools.
In order for your resume to pass this first round and make it to the human who has the power to get you to an interview, the ATS needs to see you’re a good match. But there are formatting choices that can confuse an ATS—for example, some won’t read the content inside tables, text boxes, or graphics. And if the ATS can’t read your materials, your resume might be filtered out. (Read more about formatting your resume for an ATS here.)
This all means that using one of the fancy resume templates you see online isn’t necessarily the best move. Most basic formatting can be achieved with bolding, italics, and spacing, and you will still end up with a good-looking resume—meaning that starting with a blank document can actually be a better bet. (If you still want to use a template, we’ve curated 41 free ATS-friendly templates here.)
4. Create Impactful Descriptions
Give the descriptions you use for your experiences some TLC, as this is what recruiters will focus on once you’ve caught their attention. I often discover students undersell—or simply forget—all the things they’ve done that might be interesting and of value to an employer (including those transferable skills).
Here’s an exercise that can help. Reflect on an experience (such as an internship you had or volunteer work you completed) and quickly jot down what you did. You don’t need to have much structure for this—try it as a brainstorm. Think about answering some of these questions:
- What was your role?
- What were the goals for that position or experience?
- What tasks did you specifically do?
- What projects did you work on?
- Were there any side projects or tasks you completed?
- Who did you work with?
- What did you contribute?
- What did you accomplish? (Or what did/do you intend to accomplish? This can be a useful way to think about things especially when considering research or longer term projects that are still in progress!)
- Can it be quantified? Numbers can paint a clear and impressive picture of your accomplishments to someone reading your resume. You might write that you fundraised as part of the Student Government Association, and that will generally get your point across, but if you can say you increased SGA fundraising by 30% and were able to create two new social events attended by 100+ students each, that will make more of an impact. Look for ways to quantify your accomplishments wherever possible.
Once you have a good brainstorm, take the information you gathered and try crafting several statements using this formula:
Action Verb + Subject + Outcome/Purpose/Result (i.e. Accomplishment)
So you might say:
Organized a fundraiser event for 70 participants resulting in $1,000 in donations to a local hospital
Your descriptions are most valuable when leading with an action verb that reflects specific skills. For example, swap “Worked on” for “Collaborated on” and “Responsible for” with “Oversaw.” Other verbs I often recommend students use include:
5. Tailor Your Resume for Each Opportunity
Always tailor your resume to each specific job you apply to. Making it easy for the recruiter to connect your skills to what they are looking for can increase your chances of success. The job description is your blueprint and key to doing this. A couple of these exercises could help you identify what you’ll want to highlight.
- Activity 1: Take the job description and go through and underline everything you’ve had some experience in. This might be specific tasks, software/programs/tools, or qualities. Write a quick note in the margin to highlight when you’ve done that. Underline things where you have transferable skills too. For example, if you’ve used a software that is similar to a software they’re looking for, underline it. A recruiter should be able to see on your resume that you used similar skills and would be a quick study.
- Activity 2: If you aren’t sure which skills to emphasize, take the entire job description and pop it into a simple online word cloud generator, like TagCrowd. It automatically shows you the words most used in the description, which are likely of highest importance to the company or role. If you have those skills, make sure you mention them in your descriptions and mirror the language as exactly as possible (our friend the ATS will be looking for precise keywords!).
These activities can help you identify the right action verbs, keywords, and tools—like software—to weave into your descriptions. They can also help you decide what past experiences to include or which of your college courses are relevant to this role and which direct and transferable skills to highlight to make your resume a stronger fit for your target job.
6. Keep a Few Other Tried-and-True Tips in Mind
Here are a few other parting tips to keep in mind as you build your document:
- Avoid writing in first person (“I,” “we,” “our,” and “my” statements).
- Bullet points will make your document more readable—usually two to three per entry works well. But it doesn’t have to be even: Give more description space to the most relevant entries.
- Attention to detail matters. Proofread—not just for typos, but to make sure formatting is consistent (like date dashes). Employers will use your resume to make assumptions about how detail-oriented you are.
- Review any headers you put in all caps. Some spell checkers are programmed to assume that they’re acronyms and skip them.
- Ditch jargon and acronyms wherever possible. Don’t assume the reader always knows what you’re talking about. Sometimes the first person reading your document is a general recruiter and not familiar with the technical side of a role.
- Be aware of tenses. If you’ve completed an experience, those descriptions will be in past tense, and current roles can be described in present tense. (If you’re still actively involved in a role you can list the role through “Present,” and if more than one entry has the same end date, make a strategic decision to put the most relevant experience first.)
- Acceptable margins are usually between one and 0.7 inches.
- Pick a readable font, like Arial, Calibri, or Times New Roman, and try not to go below font size 11.
- As a college student, stick to a one-page resume. However, you should consider keeping a longer version (called a master resume) for your own personal use. That’s where you keep a full record of your experiences to make it easier to pull out the relevant ones each time you tailor your resume for a specific job.
What Does a College Resume Look Like?
A college resume should showcase your education, experiences, and skills (direct and transferable!) in a clear way, while keeping in mind what is most relevant to your target employer. The resume below shows a student highlighting their relevant education and experiences specifically for internship opportunities in government and politics.
Feature | 09/24/2018
Haruka Takayama Hasegawa Recognized for Contributions to VISA Program
Our very own Haruka Takayama Hasegawa was recognized by UVA's Center for American English Language and Culture (CAELC) for her generous contributions to the VISAS program. VISAS partners volunteers with international students, staff, and visiting scholars to foster support for international students and staff as well as cross-cultural learning that benefits all parties. We are not surprised, as Haruka is known within the department for her perpetual good cheer and kindness. The text from the VISAS article is quoted in full below:
Haruka Takayama Hasegawa is a PhD candidate in Economics from Kyushu, the sourthernmost of the four main islands of Japan. Haruka’s collegiate career began with her undergraduate studies at Japan’s Kobe University where she focused on development economics. After graduating, Haruka worked as a consultant in Tokyo before moving to the U.S. to earn a master’s degree at Boston University. Along the way, she decided to shift her focus to international trade and returned to Tokyo to work in foreign affairs. Here in Charlottesville, Haruka continues her focus on international trade in pursuit of her doctorate. Haruka became involved with VISAS her first year at UVa, in 2015, working with ESL Assistants in her CAELC ESL classes. Haruka quickly developed as a leader and, in 2016, took on the role as a panelist for the “Teaching as a Graduate Student” workshop series that welcomes and helps acclimate new international TAs to the university. Through these efforts, Haruka has used her insight to help many international students overcome the challenges she faced when she was a new international graduate student in the U.S. This year, in addition to continuing her efforts as a panelist, Haruka has become involved with the Language Consultant (LC) program. She meets with her LC, Mae, on a weekly basis to practice English speaking and learn about different aspects of the U.S. and university culture. Hoping to pursue an academic career in the U.S., Haruka truly appreciates everything she can learn from Mae about the U.S. undergraduate student life, from football games and March Madness to academics and everyday activities. We are sincerely grateful and honored to have gotten to know Haruka and to have her as a member of the VISAS family.
Feature | 09/04/2020
Hoo-Rizons: Former Cavalier Baseball Star Crushes Yankees, Then His Final Exams
Feature | 09/27/2016
From Vault: How to Handle Tough Interview Questions
Learn tips on how to prepare for any 'surprise' question in an interview: http://www.vault.com/blog/interviewing/tips-for-coping-with-difficult-interview-questions?utm_source=WCU_Letter&utm_medium=Newsletter&utm_campaign=09_27_2016&referer_ID=7778&utm_source=&utm_medium=email&utm_campaign=93828
Feature | 02/14/2017
ARTICLE- ARE YOU A NATURAL INNOVATOR
"I am often engaged to speak about innovation and strategy… not in an academic sort of way, people want to know how I took an idea and turned it into reality. One thing (unfortunately) that we do know is that most start-up businesses never reach the heights that match the dreams of the founders…yet others are a run-away successes. I’m not yet putting my enterprises in the category of ‘runaway’ successes – but we are managing to serve many customers, grow, and have a good time while we are doing it. So, we are getting something right."-Naomi Simson
Click here to read the rest of the article
Feature | 08/12/2016
A Great Cover Letter can Lead to an Interview
Tips on how to write a cover letter that could attract potential employers.
Note: Consider the source, the hiring norms of the industry and organization you are looking to enter, and also double check with a career advisor if you have any doubt in your mind about advice.
Feature | 01/06/2017
ARTICLE- HOW TO NETWORK BETTER IN 2017
"You've heard it before: The best way to land a new job is through networking and making connections. But many people are stumped as to what that means and how it plays out in reality, unless you're lucky enough to have been offered positions throughout your career. What exactly does making those connections look like, and how should you approach it?"- Marcelle Yeager
Click here to read the rest of the article
Feature | 12/07/2018
Alumni Spotlight: David Neuman
Alumni Spotlight: DAVID NEUMAN, Principal at Trammel Crow Company
Why econ? Economics is a great way to learn the driving forces behind business and the economy. It teaches you the fundamental building blocks for markets and the financial system and a logical way to analyze problems and situations. I graduated from UVA with my economics degree in 1999.
I now work as the Principal at the Trammell Crow Company. My job is to create value developing commercial real estate projects in the MidAtlantic region for my company’s stakeholders- those are the employees, tenants, residents, municipalities and communities in which we develop projects. I spend much of my time analyzing the relationship of risk and reward for specific development projects and, therefore, spend significant time quantifying and qualifying inherent risks of a project.
Which economics course was influential and why?
They were all influential! Perhaps the most interesting and memorable, which may be surprising to some, was American Economic History because it gave real examples of the causes of economics forces at motion and what happened in America when those forces dominated the economy (e.g., the Depression, inflation). Economic cycles are inevitable and learning from the past is the best way to prepare for future cycles.
Some advice for current students?
- Don’t stress about formulas, small facts or trying to memorize things- focus on understanding the concepts. If you focus on the concepts and remember those concepts, that is how you change your way of thinking and become a smarter person.
- When nearing graduation, it’s easy for students to fall into a trap of what they feel they “should do”, such as traditional fields like consulting or banking, however, if that student doesn’t enjoy that field, then how can one have a long, fruitful career doing it? Further, perhaps a student’s core strengths don’t favor that field. Therefore, finding a career path that’s enjoyable and values that student’s strengths is essential.
- I got C’s in both ECON 201 & 202! So, keep at it and keep positive!
Feature | 01/14/2021
Daniel Harper Coauthors Paper Published in JEBO
Daniel Harper, a 4th year doctoral student, coauthored "Capital constraints and asset bubbles: An experimental study," with Professors Lee Coppock and Charles Holt. The paper was published in the Journal of Economic Behavior and Organization, January 2021.
Feature | 09/17/2018
The 30 Best Tips to Prepare for an Interview
- Spend a few hours learning everything you can about the company—from as many sources as you can. Talk to friends and contacts, read current news releases, and, yes, spend some time on Google. Often, candidates just look at the information a company is pushing out via the website and social media, but fail to look more in depth at what others are saying. By doing so, you’ll get the larger picture about the company (along with any negative press).
Get a sense of “who” the company is and how to embody a similar personality during your interview. Start by reading the company’s blog and Facebook page—the tone of the company’s content on these sites will speak volumes. Or, try reading individual employees’ blogs to figure out what type of people work (and excel) there...Click here for more: https://www.themuse.com/advice/the-ultimate-interview-guide-30-prep-tips...
Feature | 12/14/2015
The “New" Renaissance Man
Learn about what tech firms are looking for these days from Prof. Nekipelov (ECON 4720).
Feature | 08/12/2016
A Different Recruitment Method
Large companies are hiring recruits first then assigning a job role to them later. Review the insightful comments at the bottom of the articles.
Feature | 01/31/2022
Sngidha Das presents at SEA
Snigdha Das presented her paper, "Corruption and the Golden Goose Effect in the Context of an Ink Bomb Task Experiment," which studies corrupt behavior across a dynamic setting. Snigdha presented the experimental design of the theoretical model along with some preliminary data observations gathered from pilot sessions in Professor Charles Holt's undergraduate class.
Feature | 03/06/2020
Amzad Hossain Presents Paper on Effects of Gender Matches in Higher Education
Amzad Hossain, 4th year PhD student, presented his paper on "The Match Between `She' and `Her': Performance Gains from Gender Match in Higher Education" at the Eastern Economic Conference in February 2019. Using a novel and confidential administrative dataset from a highly reputed economics program in a developing country, he assessed the benefit of the match between female students and female teachers and found that female students gained in terms of both grade performance and better long-term outcomes, such as cumulative GPA and degree completion time. Comparing the test scores of the blind and non-blind exams for the same course, he showed that the gain from gender-matching is not driven by gender bias in teachers' assessments. He also presented several novel results: First, the interaction effect (the gender-match gain) is much higher when students are matched with more experienced female teachers. Second, the female teacher-student interaction effect monotonically increases over successive semesters. Finally, the interaction effect is much higher when the female teacher has a Ph.D. degree than when she does not.
Feature | 08/12/2016
What College Can Teach the Aspiring Entrepreneur
How do you use college to learn how to be an entrepreneur? For the student looking to launch a company after graduation, the answers to the typical questions—where do you go to school, http://online.wsj.com/articles/what-college-can-teach-the-aspiring-entrepreneur-1414965300
Feature | 09/20/2021
ECO Blog: Preparing for Interviews
ECO Blog: Interviewing
I enjoy interviews! Sounds crazy, right? You may be thinking that I'm referring to being on the giving side of the interview. True! But, I also enjoy being interviewed. Each conversation is an opportunity to speak about my experiences and make the case for why I am a good fit for a job, volunteer opportunity, or leadership opportunity. It's also a great opportunity to learn if the interviewer's organization is a good fit for me. I always learn something. And along the way, I usually meet some interesting people and hear their stories. Did I like interviewing when I was a student at UVA and looking for a job? After the first couple of times - somewhat - I came to understand and appreciate the process. Was I anxious during my first case interview? You bet, but I got through it and so will you. And today, I really enjoy the process. What has led to this general increase in enjoyment? In one word...Practice!
Most of our majors will enter the labor market as full-time employees at some point in the next 3 years, some as soon as January 2022. Many of you have interviewed for part-time jobs, internships, and even full-time jobs already. Many more will follow suit this fall. For those headed to graduate school, the job interview may be postponed a couple of years, but likely by the quarter-century mark, most of you will have participated in several job interviews. My guess is that each person who has interviewed for more than one job is more confident and comfortable the second time than the first, and even more so after the tenth or twentieth. The biggest takeaway from today's blog posting is to practice for your interviews.
There are many categories of interviews and interview formats and here's a link here for you to review those. Most important for our purposes are the Screening Interview/HireVue format, Behavioral Interview, and the Case Interview. The Screening Interview may be resume-based or behavioral. And all of these interview types likely are virtual these days. The screening interview may be a recorded interview, and this recorded interview often replaces an initial call with a recruiter. Following the interviews or between interviews, candidates may be asked to take assessments for technical abilities and a personality assessment. Some personality assessments are built in-house by employers and others are sourced from third-party firms like Pymetrics.
Below is a list of tips to help you succeed in your interviews, followed by some of my favorite interviewing articles. Will you ever enjoy interviewing the way I do? Maybe, maybe not. But either way, you can be successful in the process through research, preparation, and practice. You've got this econ majors!
- Research and practice. Find the interview style/format for your market and job function and prepare. You can find the info from recruiters, alumni, people in the jobs currently, employer websites, and websites like glassdoor.com.
- Prepare the answers to the essential interview questions before every interview.
- Be on time.
- Look the part - dress professionally and if this is a virtual meeting - have good lighting and be sure the area in your camera's perimeter is neat and clean.
- If possible, research your interviewer before the interview. This will allow you to consider the perspective from which they are approaching the interview. For example, if they manage budgets, they may be looking at the employers' fiscal health. Asking budget-related questions would make sense, whereas questions about the firm's HR policies may not be as applicable.
- Refer to your interviewers by their names in the interview. Using someone's name is memorable.
- Craft your story and share it genuinely. Think about what led you to apply for the job and weave your narrative to arrive at that point.
- You are interviewing the employer also. Assure the employer is a good fit for you by asking questions that allow you to determine if the employer fits your needs (your values, work style, compensation, career mobility, cultural fit etc.).
- Relax and keep things in perspective.
- You will receive job offers and you will get hired.
- The interviewer wants you to do well. They want to hire you!
The Muse Interviews
Are you like, saying something without, like knowing, that it's like hurting your career? (I'm not a fan of the photo, but the topic is relevant for students of any gender.)
How to Master Effective Storytelling in Interviews
Behavioral Interview Question Bank from the ECO
Interview Prep from the UVA Career Center
Consulting Case Interview Prep Materials in Collab
Sample Financial Analyst Interview Questions
Deloitte Federal Case Interview Practice Tips
ECO Prep Sign up Sheet for Case Interviews - Fall 2021
Feature | 08/09/2021
Rookie Bankers Sour on Wall Street's Pitch of Big Pay and Long Hours
By Kate Kelly and Lananh Nguyen
July 26, 2021
When Vince Iyoriobhe joined Bank of America’s investment banking division as a rookie analyst in 2017, he planned to stick around just long enough to get the experience needed to pursue his dream career in another corner of finance entirely — private equity.
“I knew banking was going to be tough,” Mr. Iyoriobhe, 26, said. But his attitude was: “I’m going to do it for two years and then go on to something else.”
The lure of investment banking is fading for the youngest members of the work force.
For decades, investment banking — the job of advising big companies on their most pressing needs — was one of Wall Street’s most prestigious careers, glorified in 1980s best sellers by writers like Tom Wolfe and Michael Lewis. Thousands of young hopefuls applied every year for a chance to start careers at Goldman Sachs, JPMorgan, Salomon Brothers and other banks as analysts — entry-level positions that taught aspiring financiers how to build financial models and evaluate businesses.
They embraced the long hours and grunt work in exchange for the prestige of jobs that eventually paid millions. In turn, each analyst class provided banks with a reliable pipeline of talent.
But new college graduates are increasingly unwilling to put themselves through the strenuous two-year analyst program, despite starting pay that can reach $160,000. That’s especially so as careers in technology and other parts of the finance world promise better hours and more flexibility. The pandemic, which forced many to reassess their work-life balance, has only underscored that thinking. Others, like Mr. Iyoriobhe — who put in 90-hour weeks at Bank of America, sometimes going home only to shower — are willing to do it for the minimum time necessary to put it on their résumés. He now works at a private equity firm.
“It’s kind of like going through boot camp,” said Ben Chon, a 27-year-old entrepreneur whose YouTube video about leaving his job as a health care banker in JPMorgan Chase’s San Francisco office, posted in February, has garnered more than 100,000 views.
Mr. Chon said he appreciated all that he had learned as an analyst, but added: “You don’t have control of your lifestyle, and you’re working even when you don’t want to.”
The number of applicants to banking analyst programs is hard to track, but business school data, which captures a slightly older cohort of potential financiers, shows a broad decline in interest in investment banking. Last year, the five top-ranked U.S. business schools sent, on average, 7 percent of graduates from their master’s of business administration programs into full-time investment banking roles, down from 9 percent in 2016. The decline was pronounced at the University of Pennsylvania’s Wharton School, where bankers were 12 percent of the M.B.A. cohort in 2020, compared with more than a fifth of the class a decade earlier. Harvard sent just 3 percent of its 2020 class.
In a recent Instagram survey on the page “Millennial Career Polls,” conducted by a former investment banker who wants to start a platform to help young professionals navigate their careers, 79 percent of the 139 respondents said they thought banking would be a less desired career in the future than when they had joined it. And in February, 13 analysts at Goldman showed their superiors a PowerPoint presentation describing brutally long hours and their declining health.
“The sleep deprivation, the treatment by senior bankers, the mental and physical stress … I’ve been through foster care and this is arguably worse,” one of the unnamed analysts surveyed in the presentation said.
“The industry is not as attractive” as it once was, said Rob Dicks, a consultant at Accenture who specializes in recruiting in financial services. “Employees want a hybrid model, and the banks are saying no,” he said, referring to a combination of in-person and remote work. “The message is: ‘The bank knows best, we have a model for doing this, and you will conform to that model.’”
A Culture of Overwork
Although top executives of the biggest banks have recently talked tough about the need for employees to return to the office, many are paying heed to the complaints of their youngest workers. Goldman’s chief executive, David Solomon, said in an earnings call this month that his firm would pay more competitively and enhance rewards for performance. Goldman is also enforcing its no-work-on-Saturday rule. JPMorgan is rolling out technology to automate some aspects of analysts’ work, and recently hired more than 200 additional junior bankers to ease the pressure in a particularly busy year.
A first-year investment banking analyst in New York can make as much as $160,000 in a year, including a bonus, according to estimates from Wall Street Prep, a company that helps aspiring bankers train for the industry. But several firms, including Citigroup, Bank of America, JPMorgan and Barclays, have raised the salaries of junior bankers. Credit Suisse paid what it described internally as “lifestyle bonuses” of $20,000 to younger bankers.
Jefferies, another investment bank, even offered Peloton bikes, Apple Watches and other perquisites to thank more than 1,100 of its analysts and associates — the next rank up — for working hard during the pandemic. Jefferies employees “have gotten us through the hardest period we have experienced in our careers,” Rich Handler, the bank’s chief executive, and Brian Friedman, its president, wrote in a July 1 letter to staff and clients.
Still, banks tend to hew to a work culture fetishized in the 1980s, when Mr. Wolfe’s “The Bonfire of the Vanities” memorialized Wall Street as the home of “masters of the universe.” Young analysts worked around the clock, picked up coffee and food orders for the team, endured mindless tasks like filing trade tickets, and were subjected to pranks and verbal abuse. In exchange, they gained a foothold in one of the most lucrative careers available, when new products like bonds backed by mortgages and corporate mergers and acquisitions were creating vast profits.
Some of today’s heaviest hitters in banking got their start in that heyday, including John Waldron, the president of Goldman Sachs; Sharon Yeshaya, Morgan Stanley’s new chief financial officer; and Carlos Hernandez, executive chair of investment and corporate banking at JPMorgan.
Banks lost much of their allure after the 2008 financial crisis, just as Silicon Valley was taking off, and private equity firms morphed from small partnerships to asset management behemoths. The newer career options promised potentially quicker and bigger payouts, better hours, lofty corporate missions and perks like taking pets to the office. To young graduates, banking analyst roles appeared too grinding to be worth the effort, at least over the long term.
In recent years, recruiters for giant private equity firms like Carlyle and Blackstone, which manage billions of dollars for clients and also buy up companies, began wooing analysts even before they started their jobs.
Brian Moynihan, the chief executive of Bank of America, said that wasn’t necessarily a bad thing. “They’re very talented kids, especially around the investment banking arena,” he told Bloomberg TV this month. “And there’s a lot of offers from private equity and other things that we’re training them for our clients, and that’s OK, too.”
And there’s the pull of Silicon Valley.
“The technology sector has just completely changed the game,” said Jamie Lee, 37, who worked in banking before starting a venture-capital firm this year. “The opportunity cost is simply too high to be sticking around in a job where you’re not getting the treatment that you want.”
Mr. Lee’s father, the JPMorgan banker Jimmy Lee, was for decades one of the best-known players in his field, advising companies like Facebook and General Motors before he died in 2015. But when the younger Mr. Lee was finishing college in the mid-2000s, his father urged him to avoid the analyst programs.
“He said, ‘Honestly, J, the way that I’ve seen that we work these kids, I’m not sure that I want that for you,’” Mr. Lee recalled.
It’s Not All About the Money
More compensation may not be enough for lots of young workers, for whom the pandemic only highlighted the less palatable aspects of investment banking — even as other careers dangled more appealing work-from-home policies.
Armen Panossian, a rising senior at Rutgers University, is interning in the logistics division of the energy company BP and hoping to land a similar full-time role after college. He said the pandemic was part of his motivation for pursuing a more 9-to-5 job rooted in finance.
“I think a lot of people rediscovered the importance of mental health,” Mr. Panossian, 21, said.
Eden Luvishis, a 20-year-old student of finance, computer science and math at the Stevens Institute of Technology in Hoboken, N.J., wants to work in fintech but would consider becoming an engineer at a major bank — a career that could marry her interest in finance with a more predictable way of working.
“I was never so interested in traditional banking jobs,” she said. “For me it was always more of the quant side,” meaning roles involving quantitative analysis. “I really love math.”
Before graduating from Mount Holyoke College in 2016, Areeba Kamal worked for a summer as a trading intern handling complex bond products at Bank of America’s Midtown Manhattan tower. She arrived around 8:30 a.m. and often stayed until 10:30 p.m., trying to learn the intricacies of her product. She sent money to her family in Pakistan.
“If you’re an international student, early on you realize your two options are finance and tech,” said Ms. Kamal, 29, noting that those fields offer the most pay and help with work visas.
But after that summer in finance, she gravitated toward tech. “I don’t want to work 14 to 15 hours a day on something I don’t care about because it pays a ridiculous amount of money,” Ms. Kamal said. She now works for Apple.
Still, not everyone is down on banking. Herby Dieujuste, 25, who worked one summer for JPMorgan’s private bank and did a stint as a TD Bank teller, is studying for one of the required licenses for starting bankers while interviewing for investment banking positions. A longtime basketball player, he said it was unsurprising that the banking industry would treat its rookies as dismissively as a sports team might — until they proved themselves.
“I want to be somewhere where I know I can be for a decade or two, and I always saw finance as that kind of industry,” he said.
Kate Kelly is a business reporter, covering big banks, trading and key financial-policy players. She is also the co-author of “The Education of Brett Kavanaugh” and the author of “Street Fighters.” @katekelly
Correction: July 26, 2021
An earlier version of this article misidentified the class of a university student. Armen Panossian is a rising senior at Rutgers University, not a rising junior.
Feature | 02/03/2023
How to Write a Script for a Job Interview That Feels Authentic
Written by Judith Humphrey for Fast Company
So, you have a job interview at a company you really like. It’s your dream job. Your interviews are scheduled, and you ready to start to preparing. But how?
Most candidates research the company, the interviewer, and the job, then jot down notes on what they’ll say and write out questions to ask. But how many job seekers actually write out a script for themselves? Not many! They may fear sounding wooden or robotic in the interview. Or they suspect they’ll panic if they forget their lines.
Don’t believe it. Without a script, you’re rudderless. You’ll deliver whatever comes into your head at the moment. And you won’t necessarily get across a clear, consistent message about your readiness for the job.
As a former speechwriter, I can tell you, good scripts don’t come “in the moment.” There’s a slight chance you’ll get it right. But more likely you’ll deliver mixed messages that don’t add up to a clear and compelling picture of yourself. You have to think a lot about how you’re going to tell your story. After all, it must inspire that particular interviewer, and that company.
Follow these four steps, and you’ll be able to do just that.
STEP 1: CREATE YOUR SCRIPT
The first step is to decide how you want to tell your story in the interview.
Ask yourself, “How will I open?” You’ll want something that builds rapport with the interviewer. Perhaps, “I’ve heard so much about you and your leadership—great to meet you.” Or, “everyone I’ve met speaks so highly of you. I’ve been looking forward to our conversation.”
Next comes your message. What is the one big idea about yourself that you want the interviewer to hear? Every job seeker needs a message. It’s the distillation of what you believe about yourself as a candidate for that role. You’ll want to bring it forward early in the interview, and repeat it in various ways throughout the interview. It allows the interviewer to “get you.”
Following the message come three or four proof points that support your message. If these can be presented with quantifiable results, do so. For example, if you had a strong sales record, prove it with numbers.
End your script with next steps. Do you want the job? Then ask for it. You likely won’t say, “Do I have the job?” but it would be good to say, “I’m excited about this role. I believe I’d be an excellent fit, and I look forward to hearing about next steps.”
Write out your script in full sentences or bullet points and prepare answers to any questions you might be asked. You may decide to add a “demo” or just keep it as an outline of what you want to say. And for every interview—especially if you’re applying for different jobs, or in different companies–customize your script.
STEP 2: BURN IT IN YOUR MIND
For the script to be useful, make it your own. Go over it silently, making sure you have it down solid. In the days leading up to the interview, be obsessive about mastering it. Whether you’re having coffee, commuting to the office, or relaxing on a walk, repeat it to yourself over and over again.
Make sure it sounds like you. For example, if you’ve written “I have a deep background in the field of marketing,” you may decide it sounds too stiff. So, change it to “I’m a marketing whiz. Marketing is in my blood!” Customize the script so you sound like you’re speaking not from a script, but from your gut.
As you master your script, you’ll have something carefully thought out to say. You won’t ramble, over answer, or go blank in the interview. You’ll have ideas that you “own” and want to deliver. This will make you more purposeful.
STEP 3: RALLY OTHERS TO REHEARSE WITH YOU
Call upon friends or family members to listen to you deliver your script and answer questions. If the interview is going to be over Zoom, rehearse it that way. If it’s going to be in person, rehearse it that way. If it’s a video interview, create a video.
Have the person interviewing you ask you questions, and as she probes, find opportunities to interleaf your script. This will result in a back-and-forth dialogue that mirrors the interactive conversation you’ll be having. And it will save you from sounding wooden or programmed.
Don’t worry if you don’t use exactly the same words every time you rehearse. In fact, that’s a good thing. You’ll be shaping what you say to the tone and style of the mock interview.
STEP 4: YOU’RE READY FOR THE INTERVIEW
Once you’ve rehearsed successfully, you’re ready for the interview.
Leave the script behind when you go to the interview. It’s no longer needed, because that script has become your way of thinking. And whatever comes your way during the interview, you’ll know what your message is, what points you want to make to support that message, and how to begin and end. And you’ll likewise have answers to anticipated questions. So primed, you’ll sound confident, clear, and leader-like.
Feature | 05/13/2019
Tips for Making the Most of Your Summer Internship
Tips for Making the Most of Your Summer Internship/Job
Compiled by Sabrina Grandhi (Econ 2019, Consultant Cornerstone Research
Ask to Meet with your Supervisor-First Team Meetings:
Meet with your boss/manager to go over your projects.
Want to outline expectations and understand what deliverables & deadlines you might have
Make sure to communicate about your strengths and weaknesses
Help your manager understand the best ways you learn and how they can help you learn
Be clear about when you might need/ask for help
Understand what checkpoints you will have and what is expected of you at each check-in
Finding the right fit:
Be true to your interests and what gets you excited about work—problem solving, combing through data, presenting to your team, etc.
Try new things but don’t be afraid to be honest about what you like and don’t like, there are so many jobs out there.
Be humble throughout the entire process—recruiting, working, every part
Try new things!!
Read this: How to Make the Most of Your Summer Internship (Recommended by the Economics Career Office)
Feature | 09/12/2018
Econ Grads Soccer Match, a Yearly Tradition
It is a yearly tradition for current Econ graduate students to meet, greet, and challenge the incoming class to a friendly soccer game. Current students include Hunda 'Hazard' Kebede, Abiy 'The Ankle Breaker' Teshome and Joaquin 'El Matatopos' Saldain, among other stars. After this first dust-up, new students are invited to join the Econ Grad soccer mailing list and team. Though you couldn't tell from this picture, this 2018 game was a co-ed event, and we hope that in future years, more female students will participate!
Feature | 09/20/2016
ARTICLE - ALUM’S APP ASPIRES TO BECOME ‘THE AMAZON OF HEALTH CARE’ IN ASIA
"University of Virginia graduate Dato' Chevy Beh envisions his startup, BookDoc, transforming health care in Asia just as tech behemoth Amazon has transformed retail around the world.
BookDoc, which Beh founded in Malaysia in 2015, offers a free mobile app and online platform to help patients quickly identify, and get an appointment with, nearby health care providers. The concept was inspired by a good friend who called Beh for help after contracting dengue fever in Malaysia and struggling to find a doctor who could treat him quickly" -Caroline Newman
Click here to read the rest of the article.
Feature | 09/25/2018
Make a Powerful Interview Impact! (First Impressions Count!)
Feature | 06/28/2021
Article: Rock Your Summer Internship!
17 Tips to Get the Most out of Your Virtual Internship
Summer internships are an important part of a lot of students’ college educations. Unfortunately, they’re not exempt from the confusion the coronavirus pandemic has wrought on every aspect of our lives.
The good news: Most employers are keeping internships going this summer. Only 22% of employers planned to revoke some internship offers as of May 1, according to a poll by the National Association of Colleges and Employers (NACE).
Instead of cancelling them, NACE reports, “In general, employers are adapting their summer 2020 internship programs by moving as much programming to a virtual space as possible.”
At least 83% of companies in the poll intend to adapt their internship programs to respond to social distancing and stay-at-home orders this summer.
That could mean your internship offer is still on the table — but that table might be in your kitchen.
Don’t let the switch ruin your summer internship experience. Here’s how to get the most educational, professional and networking opportunities out of a virtual internship.
How to Make the Most of an Internship From Home
An internship is a rich opportunity to learn and even to land a full-time job. Turning it virtual doesn’t have to take away those opportunities.
Follow these tips to get as much education and opportunity out of your virtual internship as you could get in person:
1. Surface the Right Strengths
Some fields are more adaptable to remote work than others. If you had planned to spend your summer doing anything but working at a computer, you might have to find new muscles to flex.
Like, if you booked a political internship focused on knocking on doors or talking to people on the street, you’ll probably have to shift gears to social media marketing. If you were going to work with kids in child care or educational programs, you’ll have to get comfortable engaging them on-screen.
Draw on all your classes to put peripheral strengths to use in a virtual internship, even if the work isn’t what you expected.
Things like writing and blogging, graphic design, communications, coding, digital marketing and social media, and data analysis translate well to remote work. Be prepared to take them on this summer — and learn job skills you didn’t think you would!
2. Set a Schedule
You have to show up for work from home just as much as you would in an office. Keeping a daily schedule will help you be fully present during work hours and also disconnect when you’re not on the clock.
Don’t roll over in bed and log into email on your laptop at 9 a.m. Develop a healthy morning routine, so you show up to your work fresh and ready to focus. Get dressed. Don’t let housework, pets or Netflix creep into your work hours just because they’re right there.
3. Set Boundaries With Family and Roommates
The people you live with might mistake your being at home with being available for chores or socializing. Set boundaries early, so they know this isn’t the case.
Let everyone in your house know your work schedule before you start, so they understand why you don’t have time for them during the day.
More important: Enforce the boundaries. When they stop by to chat you up, let them know you have to get back to work. When they ask you to help fold laundry, turn them down, and let them know you can do it after 5 o’clock.
4. Set up a Dedicated Work Space
Designating a work space will complement your schedule — and boundary-setting efforts.
Settling into the same place to work each day signals to your brain that it’s time to work. And creating a space your house mates recognize as a work space helps remind them when you’re at work.
It doesn’t have to be a home office or anything major if you don’t have access to that kind of space. Just choose a place you can work comfortably and with limited distraction. A porch with a little shade could be a perfect summer office!
I recommend avoiding your bed, because it’s too easy to become sleepy. And I recommend avoiding the kitchen table if you live with a lot of people, because kitchens are busy spots. But do what works for you.
5. Take Care of Your Physical and Mental Health
Working from home eliminates some natural opportunities a workplace usually offers for physical activity and socializing. You’ll need that kind of self-care to stay creative, productive and focused during your internship.
Remote work can be tough on your mental health under any circumstances. A pandemic only compounds it.
Take care of your mental health during a virtual internship by:
- Talking to a therapist online or through teletherapy apps like BetterHelp and Talkspace.
- Meditating with YouTube tutorials or apps like Headspace and Calm.
- Going outside for fresh air and sunshine.
- Decompressing at the end of the day through exercise, journaling, social media, reading or something else relaxing.
Getting exercise and moving around is also helpful for your mental health, just as much as it is for your physical health. (My advice: Start now. Your hips will thank you when you’re older.)
Check out these products to stay active and healthy while working from home.
6. Become Familiar With the Tech
Companies often expect students to be tech wizards — but being a digital native doesn’t mean you know how to use every tool out there.
If an internship is your first foray into corporate work, you might have never used remote work technology before.
Familiarize yourself with the company’s tools right away. Take time on your first day to log into your accounts, explore the settings and address issues before they become an annoyance in the course of your work.
- Start a practice call on a video conferencing app, and download whatever software it prompts you to. Set your video, mic and audio preferences.
- Log into chat apps, like Slack or Skype, and fill out your profile with a name, photo and title.
- Sign into your company email to make sure your password works.
- Download video and chat apps to your phone, sign into your accounts and adjust your notification preferences.
7. Ask Questions
I’ve spent a lot of my career being the dumbest person in the room — and that’s a good thing. My biggest asset has been my willingness to ask questions.
Your coworkers expect curiosity from you as an intern. You’re there to learn! Don’t waste the opportunity trying to prove to professionals that you’re already an expert. You’re not.
A virtual internship might present less-obvious opportunities to ask questions — sitting in on meetings, running into coworkers in the break room or sharing a desk cluster with your team.
So you have to be assertive.
Speak up in virtual meetings or follow up via chat afterward. Ask “why” a lot, even when you think you know the answer. Respond to your manager’s requests to clarify tasks they want you to complete.
Lots of experts and employees say asking questions is vital to turning an internship into a job offer, so don’t shy away from your curiosity.
8. Ask About Company Culture
An on-site internship might present opportunities to dive into company culture, like lunch-and-learns or wacky dress-up days. But companies might not make that effort with a remote workforce, especially if they’re not accustomed to being separated.
Be proactive to show them you’re interested in participating in the culture, not just the job. Join virtual activities.
If no one is coordinating them, suggest some ideas to your team — a wacky-dress day can be just as fun over Zoom as in the office!
9. Keep an Internship Journal
You might have to log your hours and write a paper about your experience to earn college credit for your internship. But even if you don’t, I recommend jotting a few notes in a journal at the end of each day to reflect on your experience.
This is a useful way to decompress, take in the experience and understand what you’re learning. If you end up with internship coordinators who aren’t super engaged remotely, this self-reflection could come in extra handy.
10. Stay Open to Opportunities
Flipping the switch to a virtual internship might present you with unexpected opportunities. You’ll showcase strengths you didn’t expect to use, and the company will likely have needs it didn’t expect to have.
Stay open, and say yes to opportunities. Don’t turn tasks or projects down because they’re not traditional to your field or they’re not what you expected this role to be.
An internship is a place to learn, and staying nimble to possibilities — especially during a time that’s stressful for everyone you’re working with — is vital to your education and development.
11. Make Yourself Critical to the Company’s Success
In any internship, you could easily come in, complete your work and disappear at the end of the summer. Working remotely makes it even easier for you to totally fade from everyone’s memory when your internship ends.
Get ahead of that by doing the job so well the company doesn’t want to live without you.
Note that doing critical work could be a legal problem for an unpaid internship, so know your rights if a company actually can’t function without the work you do.
Instead, focus on being a star by being curious, taking on challenges and fitting into company culture, so the company can see how much of an asset you’d be as a full-time employee in any role.
How to Build Your Network Through a Virtual Internship
A major benefit of internships is building a network of mentors, professionals and other students in your field. Working from home could make that seem impossible.
Follow these tips to build your network virtually:
1. Do Your Homework
Ideally, you researched the company before applying, so you knew what you were getting into; or before your interview, so you could make a good impression.
But if you haven’t yet, bone up on the company’s history, mission, structure, operations and leadership. It’ll help you carry on conversations with your coworkers — and it’ll give you a great education in your field, too!
2. Find Everyone on Social Media
No matter how hard we try, virtual teams don’t seem to socialize as much as those working in a shared space. To make up for the lack of office chit chat, connect with employees and other interns through social media.
LinkedIn is an obvious place to start. You can connect with anyone from the company there to stay in tune with professional chatter. But polish your profile before sending the connection requests!
Twitter offers a similar opportunity to connect with people, even if you don’t know them well. If professionals in your field are active on Twitter, it might be a more useful platform than LinkedIn to follow and engage with influencers in the company, because Twitter users tend to get on the platform more regularly.
Facebook and Instagram might be appropriate platforms to connect with other interns and employees you work closely with. People are more active and personal on those, so they could help you forge connections that last beyond your internship.
3. Organize Virtual Events
Kudos to your company if it organizes virtual networking and social events for employees and interns. If it doesn’t — and that’s more likely — take the initiative to set them up yourself.
Reach out to human resources reps, a social committee or your supervisor, and suggest some ideas for virtual social gatherings to keep employees connected. If appropriate (i.e. if it’s not already someone else’s job), offer to coordinate it.
You can organize networking events with just fellow interns. Bonding with them will improve your experience and lay the bedrock for your professional network that’ll be valuable for years to come.
Consider these virtual social events via video conference:
- Happy hours
- Pub trivia
- Game night
- Yoga classes
- Workouts or fitness classes
- Sewing or knitting circles
- Book club
- Movie night (check out Netflix Party for Chrome to stay in sync)
- Roundtable chats on fun or educational topics
- Talent shows
The possibilities are broad; just get creative!
4. Dress to Impress (Including Pants)
Working from home is no excuse to look sloppy. You don’t have to force yourself into Spanx to smooth a pencil skirt over your thighs, but you shouldn’t show up to Zoom meetings in bottomless pajamas, either.
You’ll make an impression in virtual meetings just like you would in person, so dress accordingly. Brush your hair, and wash it occasionally. Wear a clean, comfortable shirt, and change it every day.
Getting dressed for the work day might feel silly, especially if you’re only on camera for a meeting or two.
But studies have shown what you wear impacts your creativity, confidence and attention to detail, Scientific American reports.
5. Get on the Phone
I might be an old millennial, but I definitely don’t prefer a phone call if any other option is available. Still, I know they’re important.
You can forge a connection with someone over the phone — or a video chat — that you can’t via text or email.
If you find yourself in a complicated conversation over text, email or chat with someone on your team, suggest hopping on a phone or video call. It’ll help you find clarity and also provide an opportunity for small talk you’d probably skip over text.
You can also suggest purely social calls — reach out to coworkers, and ask to set up a call to chat and get to know them better. It might feel awkward compared to just bumping into them over lunch, but use the unusual circumstances as an excuse to be more assertive.
6. Take Advantage of Your Signature
Most of your communication with people at the company will probably be via email or chat. Use your signature or status on those platforms to showcase your personality and achievements, and show coworkers where to connect with you outside of work.
Some things you could include in your email signature and Slack (or other app) status or profile:
- Your location
- Emojis that represent how you’re feeling each day
- An inspiring, positive or funny quote
- Links to your website and social media profiles
- Your career aspirations, like “Future human rights lawyer”
- Your areas of focus, like “writing, design and social media”
- A call to action to support your favorite charity
- Your personality profile from Meyers-Briggs, Enneagram, StrengthsFinders or other tests
Rock Your Summer Internship — From Anywhere
You don’t have to go into an office to have a valuable internship experience. Be nimble, stay positive and make the most of the opportunity you have.
Completing a virtual internship will give you a valuable skill set that might be in increasingly high demand in the future: knowing how to work from home.
Dana Sitar (@danasitar) has been writing and editing since 2011, covering personal finance, careers and digital media.
Feature | 01/11/2017
Article - 6 Signs that You're Living in an Entrepreneurial Society
In his landmark 1985 book, Innovation and Entrepreneurship, famed author and educator Peter Drucker wrote about an entrepreneurial society and its impact on economic development. “Entrepreneurship rests on a theory of economy and society,” he wrote. “The theory sees change as normal and indeed as healthy. And it sees the major task in society — and especially in the economy — as doing something different rather than doing better what is already being done.” What does it mean, then, to live in a society that is becoming more entrepreneurial? I see six major signs: Read more here...
Feature | 08/12/2015
Jerome Meyinsse: Economics Major and Basketball player
"When former University of Virginia basketball player Jerome Meyinsse returns to Grounds, he always makes two stops:John Paul Jones Arena, home of the men’s basketball team, and Monroe Hall, home of the economics department.
Meyinsse returned again this summer to work out with the current Cavaliers and share wisdom gleaned from five seasons in South America’s professional basketball leagues, where he plays for Brazil’s Flamengo club. Current players would do well to listen – since joining the club two years ago, Meyinsse has enjoyed two national championships, with a third in sight.
“We really enjoy having Jerome back during the summer to work out with our team,” U.Va. head coach Tony Bennett said. “He challenges our post players with his size, skill and competiveness. Jerome has worked hard to become a professional basketball player and was an excellent student at U.Va. We’re certainly proud of what he has accomplished since he graduated.”
At U.Va., the 6-foot-9 Meyinsse was known for his contributions at center, especially during his final season – Bennett’s first – in 2010. He was also known as one of the most outstanding students the program had seen, majoring in economics and minoring in math." (Caroline Newman)
See the full interview here.
Feature | 01/03/2022
Meet the Trio of UVA Alumni on the 2022 Forbes ‘30 Under 30’ Lists
Feature | 09/23/2018
Careers in Marketing Forum
Taking place next Thursday (9/27) and Friday (9/28), the Careers in Marketing forum is a unique opportunity for students to learn from a diverse group of Marketing alum representing many different areas within the industry. We have an impressive line-up this year with 16 alums committed to participate and a keynote with incredible experience, James Quarles, CEO of Strava, formerly of Instagram & Facebook who will be discussing: Marketing at the Intersection of Business and Consumer Needs.
For details and to RSVP:
Thursday Kickoff: https://app.joinhandshake.com/events/161935
Friday’s Forum: https://app.joinhandshake.com/events/161938
Feature | 08/12/2016
This article offers terrific advice about searching for jobs and internships overseas.
When reading the “Consider the Possibilities” section, keep in mind that many countries abroad have U.Va. alumni chapters, which you may access here. The ECO is certain that alumni who manage these clubs would be amenable to speaking with you about your questions and ideas.
Feature | 05/01/2020
Diego Legal-Canisa Presents JMP at Conferences in the UK and Mexico
Between August and November 2019, Diego Legal-Cañisá travelled widely to present his JMP, titled "Unemployment Insurance with Consumer Bankruptcy," at conferences in the UK (at the Econometric Society European Summer Meeting at the University of Manchester and the 50th Anniversary Conference of the Money, Macro & Finance Research Group at the London School of Economics) and in Mexico (at the Latin American Meeting of the Econometric Society at Benemérita Universidad Autónoma de Puebla). In his paper, Diego quantitatively evaluates how unemployment insurance (UI) affects unsecured credit markets and how the welfare implications of UI depend on consumer bankruptcy. Theoretically, higher UI benefits can reduce default risk since they imply higher income during a situation of low-income. However, they can also reduce precautionary savings, encourage borrowing and unemployment, and require more taxes, which would increase default risk. He starts by comparing bankruptcy rates for bordering counties and exploits policy discontinuities at state borders to identify that bankruptcy rates fall with the maximum amount of UI available. He then constructs a general equilibrium model of unsecured consumer credit and unemployment. The model accounts for the cross-state negative relationship, and he uses it to study changes in the UI replacement rate. For low levels of replacement rate, the model predicts that the first effect dominates, and more UI benefits reduce default risk and increase ex ante welfare. As UI increases, default risk increases, and welfare falls. Bankruptcy is a barrier for the UI to increase welfare. Increasing the replacement rate above the current 50% to 55% would increase welfare by 0.5% if bankruptcy is not available (welfare increases even beyond 60%), but with a bankruptcy option, it reduces welfare by 1.7%.
Feature | 04/19/2016
Women in Economics
Economics Conference at UVA Promotes Opportunities for Women in the Field
Lexi Schubert (Econ & Cog Sci, Class of '17) also had this to say about the conference: "Personally, it was incredibly inspiring to meet economists like Sandy Black and Claudia Goldin. They are incredible role models and reinforced my own aspirations to go into academia. The conference also reinforced the idea that it is important to provide students with more information on what economics can be about. Often economics is perceived as an alternative business major. However, it is much more than that. A large part of the "economic training" is about giving students neat tools for solving problems. Those can be used in business, but also far beyond, into fields like education, development, health, public policy, etc. Making the information about ample opportunities as an econ major available to incoming students - especially women - is something that the Economics Club at UVA will look into now. Also, peer-led programs, like the Department's Undergraduate Teaching Fellowship or the Econ Club's Tutoring Program, play a crucial role in providing students with that kind of information from bottom-up instead of top-down."
Feature | 10/02/2021
Perks and Benefits 101: Explanations and Questions to Ask Before You Take the Job
by Erica Sweeney at The Muse
Once you’ve found a job and company that you’re really excited about, salary might top your list of priorities. But while salary is important, it’s only part of the overall offer. To get the full scope of what you’ll really earn at a job, you need to factor in the perks and benefits that a company offers, too.
“Look at it as more of a package than just a job with a paycheck,” says Leslie Slay, senior vice president of employee benefits services at Woodruff Sawyer, an insurance brokerage and consulting firm.
Compensation traditionally includes non-salary benefits like health insurance and retirement plans. And many companies also offer perks—including flexible schedules, educational opportunities, and wellness programs—to support employees in other ways. “More and more, perks and benefits are becoming integrated together” to support employees in a more holistic way, says Bobbi Kloss, director of human capital management services at Benefit Advisors Network.
On average, a benefits package makes up about 30% of an employee’s total compensation in the U.S. So it’s definitely worth paying attention to the perks and benefits a company offers as you’re looking for a job in addition to the salary.
Employee benefits and perks can be confusing, though. In fact, about a third of all workers and 54% of millennials said they don’t understand the employee benefits they signed up for, according to a 2020 survey by Voya Financial. So as a job seeker it’s often up to you to ask a prospective employer plenty of questions to make sure the benefits they’re offering meet your needs.
Better understanding the benefits and perks you’re offered will help you make the best choice about which job offer to accept. To help guide you, here’s an overview of 15 common employee perks and benefits you might come across as you look for your next job:
1. Health Insurance
Health insurance pays (or helps pay) for your medical expenses as they come up in exchange for a premium, or money paid—by you and/or your employer—to the insurance provider each month. Health insurance plans typically cover doctor visits, prescription drugs, emergency care, and certain medical procedures.
Health insurance plans vary from company to company and you’ll likely have a few to choose from. Some companies pay the full premium on their employee’s behalf, but usually you have to contribute to the cost with a certain amount that comes out of your paycheck before taxes. You may have some other out-of-pocket expenses, too, such as copays when you visit your doctor. Many insurance plans also have a deductible, which is an amount of money you’re responsible for paying before your health coverage kicks in. Make sure you’re aware of these costs before you choose a plan to enroll in.
And to ensure a company plan meets your needs, Kloss suggests checking that it covers treatments for any medical conditions you have or prescription medications you take, and that your preferred doctors are in the plan’s network.
If you have dependents (most commonly children or a partner you support financially) or plan to soon, you should also check that the plan will cover everyone and how much it will cost you. For example, a company may pay 100% of your health insurance premium but you may be stuck paying the full premium for everyone else in your family (which can add up fast). Read more about what all those health insurance terms mean here.
Find jobs at companies that offer health insurance
2. Dental and Vision Insurance
Dental and vision insurance cover your dental and eye-care needs. Dental insurance typically covers routine exams, cleanings, x-rays, and some portion of procedures like root canals and fillings. Vision insurance generally covers eye exams and prescription lenses.
Many employers offer dental and vision insurance, either as part of health insurance or as separate benefits. But whereas some employers cover a portion or all of the costs of health insurance, most companies require you to pay in full for dental and vision insurance, Slay says.
Just as you would with health insurance, check if the plans will let you keep your dentist and eye doctor (if you’d rather not switch) and cover any pre-existing conditions or treatments that you need.
Find jobs at companies that offer dental insurance, vision insurance, or both
3. Flexible Spending Account
A flexible spending account (FSA) allows you to put pre-tax money aside to pay for the year’s out-of-pocket healthcare costs, like over-the-counter medications, copays for doctor visits, medical devices like crutches or blood sugar tests, or vision and dental care needs like glasses or contacts. Your employer may also contribute up to $500 to your FSA without you contributing anything (they can match you dollar for dollar on top of the $500), so be sure to check if a company will pay into your account before determining your own contributions. Total FSA contributions are capped at a certain amount each year (for example, they were capped at $2,750 for 2021).
Find jobs at companies that offer FSA accounts
4. Life Insurance
Life insurance is an insurance policy that pays a set amount of money to your chosen beneficiary (or beneficiaries) when you die. If you’re just starting your career and don’t have any children or others who depend on you financially, life insurance may not seem necessary. But it’s still something you should consider, Slay says—especially if your company covers your full premium.
You decide who you want to leave the money to, such as your parents or another family member, to help cover funeral costs, for example. You could even name your favorite charity as the beneficiary.
Find jobs at companies that offer life insurance
5. Disability Insurance
Disability insurance offers compensation or income replacement when you’re unable to work because of an injury or illness that’s not job-related. “I can’t tell you how critical disability insurance is; it protects your paycheck,” Slay says. Disability insurance is usually optional, but worth looking into, she says—just find out what your employer offers and what it will cost you. Some policies are fully paid by an employer and others require you to pay some of the costs in the form of a paycheck deduction, Slay says.
There are two types of disability insurance: short term and long term. Short-term disability insurance varies according to your plan, but typically covers you if you’re out of work for less than six months and on average pays about 60% of your regular salary, according to the Bureau of Labor Statistics. Most long-term disability insurance lasts for 10 years or less (but some policies last until you reach retirement age) and covers about 60% of your annual earnings.
Find jobs at companies that offer short-term disability insurance, long-term disability insurance, or both
A 401(k) is a retirement-savings plan that’s commonly sponsored by your employer. Plans can vary, but generally you contribute to the fund as a pre-tax paycheck deduction and pay taxes on the money when you withdraw it during retirement. Many companies match employees’ 401(k) contributions, either dollar for dollar, where they put in what you put in, or with a partial match—for example, adding 50 cents for every dollar you contribute, up to a certain percentage of your salary. Yearly employee 401(k) contributions are capped (the limit is $19,500 for 2021), but the employer match doesn’t count toward the limit.
Retirement may seem like a long time away. But Slay urges early career employees to contribute as much as they can to their 401(k), especially if there’s an employer match. The match can help you grow your savings faster and if you’re not taking advantage of it, you’re essentially leaving money on the table that your employer is offering to give you. Plus, in an emergency you may be able to pull money out of your 401(k) before retirement (and without paying a tax penalty) for certain expenses, like buying a home or paying medical bills.
Some companies have taken a new approach to employee retirement benefits recently to meet their workers’ current needs, Slay says. For example, some help employees pay down student loan debt by making direct payments to their lender, while others make a larger 401(k) contribution to employees currently paying off student debt.
Find jobs at companies that offer 401(k)s or 401(k)s with company match
7. Paid Time Off
Paid time off (PTO) can include paid holidays, sick leave, federal and state holidays, personal days, and vacation days.
Typically, the amount of PTO offered by your company is based on how long you’ve worked for them, and you accrue more PTO over time (for example, if you get 15 days of PTO per year, that means you accrue about 0.058 hours of PTO for every hour you work, or roughly 10.5 hours of PTO per month). If, say, you’re looking to start a new job right before a holiday or planned trip, you might want to ask the company if it has a policy about using PTO before you’ve technically accrued it.
How a company offers PTO varies, too. For example, some designate a separate number of personal, sick, or vacation days, which is sometimes required by state law. But, Slay says, more employers are lumping all PTO in together to make taking off easier for employees. Some companies even offer unlimited PTO.
Time off is an important factor in your overall compensation, so make sure to ask about how many PTO days you get. Often, you can negotiate your PTO, Slay says, particularly since the pandemic has shown more companies the benefits of giving their workers more time off. “PTO is one of those areas where you can ask for things that are a little different and you might get them.” Also, be sure to check if you can carry over unused PTO into a new year and whether you’ll be paid for any unused days when you leave the company.
Find jobs at companies that offer paid holidays, paid vacation, personal and sick days, or unlimited vacation
8. Family and Medical Leave
The Family and Medical Leave Act (FMLA) is a U.S. law that enables employees to take unpaid leave for certain family and medical reasons. Employees can take up to 12 weeks off for the birth or adoption of a child, a family member with a medical condition who needs care, their own health condition that prevents them from performing job functions, and other reasons.
Under this law, your job is protected and your health insurance continues during this leave. Companies with more than 50 employees are required to comply with the law and you’re eligible if you’ve worked for the company for at least 12 months and meet other requirements. If you’re considering going to work for a smaller company, be sure to find out their policies for family and medical leave.
Find jobs at companies with more than 50 employees
9. Parental Leave
Parental leave enables employees to take off following the birth of a child, an adoption, or the arrival of a newly placed foster child, or for a child otherwise needing parental care, according to the U.S. Department of Labor. Though the FMLA requires some employers to offer unpaid leave in these instances, there’s no broad guarantee of parental leave in the U.S.—which means it comes down to the employer.
More than half of U.S. employers offer paid new child leave to women, and 45% offer paid new child leave to men, according to a 2020 study by the Society for Human Resource Management and Oxford Economics. However, specific policies vary for the companies that do offer parental leave, so find out about a prospective employer’s rules if you plan to start a family soon, Slay says. Ask whether the leave is paid or unpaid, whether your job will be there waiting for you when you return, and how much time off you’re allowed.
Find jobs at companies that offer maternity leave, paternity leave, or both
10. Remote Work Options
Remote work gives employees the freedom to work from home or anywhere else outside of a traditional office setting, either full time or part time in a hybrid schedule. The COVID-19 pandemic made remote work a necessity, and it was such a hit with workers that many have said they’ll quit their jobs rather than go back to the office. Employers realize that remote work has benefits for them, too, such as opening up a much broader, more diverse talent pool to hire from, so many organizations plan to allow remote work in some fashion post-pandemic.
While more employers will be offering fully or partially remote positions after the pandemic off the bat, the ability to work from home is something you can likely negotiate, Kloss says. “I think employers are recognizing after COVID that they can be more flexible in those areas than they ever thought possible.” So find out whether you’ll be able to work remotely some or all of the time and what the company’s policies are for remote work schedules, virtual meetings, and communication. Also ask whether they provide equipment or stipends for internet, phone, or other expenses for remote workers.
Find jobs at companies that offer remote work opportunities
11. Flexible Schedules
A flexible schedule is when your employer allows you to work hours and days outside of the traditional nine-to-five, Monday-to-Friday schedule. For instance, you might work 10 hours a day, four days a week or set core hours when you’re available, such as 9 AM to 1 PM, and have flexibility the rest of the day to complete your work whenever you’d like. Like with remote work, the pandemic led more companies to offer flexible schedules to accommodate different work styles and time zones as well as employees who have children or other caretaking responsibilities.
Flexible schedules are another perk that you can likely negotiate—just make sure you and your employer both come away with a clear idea of which days and times you’ll work.
Find jobs at companies that offer flexible work hours
12. Wellness Programs
Workplace wellness programs aim to improve an employee’s mental and physical health and offer more resources beyond health insurance. Wellness programs have traditionally included health screenings and tools to help people lose weight or stop smoking, according to the Kaiser Family Foundation.
But organizations have taken a broader, more holistic approach to their wellness programs in recent years by offering individualized supports that take into account an employee’s emotional, social, physical, and financial needs, Kloss says. Wellness-based perks—such as fitness subsidies, meals, and access to mental wellness apps and counseling—are becoming more common.
Even more so than with other perks and benefits, wellness program offerings vary widely, so find out the specifics of what a company offers and consider how it meets your needs.
Find jobs at companies that offer wellness programs, fitness subsidies, on-site gym, and meals
13. Education Benefits
Most companies offer some type of education benefit, including access to online courses, on-the-job training, tuition reimbursement for continuing education, and learning and development stipends to cover educational expenses.
If you’re just starting your career, these programs can help you succeed long term by keeping your skills fresh, which could increase your chances for promotions or raises, Slay says. Education benefits and perks also signal that a company values and invests in its employees and their growth. So be sure to ask what a company you’re planning to work for offers if education is important to you.
Find jobs at companies that offer access to online courses, tuition reimbursement, or learning and development stipends
14. Mentor Programs
Mentor programs pair you with someone at your company who’s more experienced and can answer questions and offer guidance to help you advance in your career. “Mentorship is huge,” Slay says. Mentors can serve as advocates to help you navigate the technical and political parts of a job as well as you build and expand your network.
Mentorship programs help employees feel valued, create a culture of learning and increase job satisfaction and productivity, Slay says. So find out whether a company provides formal or informal mentoring and what their programs entail.
Find jobs at companies that offer mentor programs
15. Diversity, Equity, and Inclusion Programs
Diversity, equity, and inclusion (DEI) programs and initiatives encourage the representation and participation of different and often underrepresented groups, such as women, people of color, people with disabilities, and the LGBTQ community. The programs may include mentorship opportunities, targeted recruitment efforts, and employee resource groups (ERGs).
As with many employee benefits and perks, some DEI programs are more robust than others. So it’s a good idea to find out the specifics of what a company offers and how it aligns with your values and needs, rather than just noting that they’ve ticked the box in offering a DEI program.
Find jobs at companies that offer diversity and inclusion programs
Before you accept a job offer, make sure you have a good grasp of the company’s benefits and perks and how they fit into your overall compensation structure. Ask plenty of questions to get all the details of how each benefit and perk aligns with your needs and negotiate to get what you want. Keep in mind, too, that when you’re searching for open jobs on The Muse, you can set filters so you’ll only see open positions at companies that offer the benefits and perks that matter most to you.
Feature | 07/19/2019
Sarah Turner and PhD Candidate Emily Cook Publish Article on Effects of Universal College Testing
The study was referenced on June 25th in The Washington Post, Education Week, and The Atlanta Journal-Constitution; the abstract can be accessed using the following link: https://www.aera.net/Newsroom/Missed-Exams-and-Lost-Opportunities-Who-Could-Gain-from-Expanded-College-Admission-Testing
Feature | 08/12/2016
A Healthier Work Day to Improve Productivity
Read about how one company in Japan is encouraging it's employees to make healthy changes to improve their productivity. (you may need to log into Handshake to access this article).
Feature | 12/22/2016
ARTICLE-THINGS YOU SHOULD REMOVE FROM YOUR RESUME IMMEDIATELY
"Hiring managers rarely have the time or resources to look at each résumé closely, and they typically spend about six seconds on their initial fit/no fit decision. If you want to pass that test, you need to have some solid qualifications — and the perfect resume to highlight them."-Tayyiba Iram
Click here to read the rest of the article
Feature | 01/15/2021
Brett Fischer presents at NTA Annual Conference
PhD candidate Brett Fischer presented his paper, "No Spending without Representation: School Boards and the Racial Gap in Education Finance," at the National Tax Association's 2020 Annual Conference, as part of a panel on education finance.
Feature | 03/19/2020
School Boards and the Racial Gap in Education Finance
Brett Fischer presented a paper, "No Spending Without Representation: School Boards and the Racial Gap in Education Finance," at the AEFP's 45th Annual Conference Program . To address the question of whether a lack of minority representation on school boards hurts minority students, he used detailed school-level data from a large capital investment program to evaluate whether minority school board members increase spending on minority students. His instrumental variables estimates, which leverage exogenous variation on school board election ballots to deliver causal effects, show that minority school board officials allocate the marginal dollar to schools with high levels of poverty and nonwhite enrollment, and those investments raise student achievement in the medium-term. His analysis suggests that improving minority representation on school boards could help combat persistent racial gaps in education finance and achievement.
Feature | 10/10/2021
ECO Blog: 2 Career Fairs This Week! Virtual Career Fair Tips
Hello Economics Majors,
I hope your fall break was relaxing and you are returning to the Grounds refreshed and renewed! This week I want to speak with you about virtual career fairs. These are great opportunities to meet with employers online. UVA hosts several a year and this week we are hosting two major events - each includes Fortune 500 and medium-sized employers. Work locations include Washington, D.C.-Northern Virginia, NYC, Austin, Dallas, and more!
Fall Data Analytics Night
Fall Job and Internship Career Fair - focus on Health and Science (Next week's fair includes less specialized industries.)
When you click the links above, you will find at the Fall Job and Internship Fair employers such as Bon Secours Health System, consulting firms Maximus and CGI, research consulting firm GLG, the NIH, and advertising health firm McCann Health.
At Fall Data Analytics Night, you'll find employers such as Booz Allen Hamilton, BRG, Charles River Associates, Gunnison Consulting, JPMorgan Chase Consumer and Community Banking, MasterCard, MTX, Procter & Gamble, and West Creek Bank. Some of the tech firms, like MTX, are hiring product managers, and the ECO has invited alum guests working as product managers, to speak with our majors the hour before Data Analytics night begins at the How I Got This Job: Product Management program.
Employers will hold info sessions with groups, and 1:1 meetings with individual students. Schedule at least an hour in your day to attend if you are internship or job-seeking. And if you're curious, but not ready to job search, the info sessions provide a great opportunity to hang back and listen. Please check out the five links below about approaching the fair. If you are in a full-on job search, I recommend choosing 3-5 employers that are your "must-sees" and schedule around those sessions.
- Make sure your lighting is good and your mic works in case you choose to speak.
- If possible, appear in a neat room, or use a virtual background.
- Dress neatly.
- Prepare your pitch using VMOCK (AI platform that records your pitch and scores you) and this ECO template and these tips.
- Have your resume handy to borrow talking points and possibly share with employers.
- Research the employers that are the most interesting to you and come with questions. You'll find some at the links belowl
- Be yourself (really!).
- Send a thank you after the info session of 1:1 session.
All the best,
Vault's Recommendations for Attending a Virtual Career Fair
Participating in a Virtual Fair - from Handshake
Handshake's Guide to Virtual Fair Attendance
Good Questions to Ask Employers
Feature | 04/04/2022
Job Hunters Take A Stand: We’re Not Writing Cover Letters
As employers struggle to fill millions of openings, applicants are using their leverage to forgo what, until recently, was a must for landing a decent job
By Lindsay Ellis
March 26, 2022 12:00 am ET
To Whom It May Concern: Job applicants are putting a hard stop to those dreaded cover letters.
Many hiring managers say a sharp cover letter remains one of the best ways to make the case for why you are the right person for the job. Yet many job seekers say the self-promoting exercise is too torturous and time-consuming to be worth the effort for a less-than-dream role. It’s also just plain insulting, they argue, since it’s often an algorithm, not a human, that screens and sorts the applications.
Now, as employers struggle to fill millions of openings, job seekers are using their leverage to say no to what, until recently, was a must for landing a decent position.
“People are fundamentally fed up with having to do so much to get a job,” said Gianni LaTange, a 27-year-old in New York who works in tech. Ms. LaTange calls cover letters an antiquated hiring practice and no longer applies to jobs that require them.
To get her current role, she instead contacted employees at companies she wanted to work at over LinkedIn. One employee, after a brief conversation, connected her with a recruiter, and she ultimately got an offer without writing a letter, she said.
Some job seekers say writing cover letters is a job itself, and one that yields little reward for the effort. Before Devin Miller’s most recent job, he wrote about 10 cover letters to companies he wanted to work for. Each was different, and he wanted to signal that he knew what the work would entail, he said. He heard back from none. To get his current role, he responded to a recruiter who had reached out to him and asked just for a résumé, the 33-year-old Mr. Miller said.
Mr. Miller briefly looked for a new information-technology job in November because he was moving to Boston. This time, though, he said he applied only for openings that didn’t require a cover letter—and got several interviews and an offer.
“It just doesn’t align with my or my peers’ current interests in how they want to proceed with their career,” said Mr. Miller, who, in the end, opted to stay with his existing team and work remotely.
Behind all of the cover-letter hate lurks a major disconnect between job seekers and the employers trying to hire them. A recent ResumeLab survey of 200 hiring managers and recruiters found 83% said cover letters were important to deciding whom to hire, especially when it came to understanding why the applicant wanted the job or explaining a career switch or break. Nearly three-quarters said they expected a cover letter even if it wasn’t explicitly asked for.
“If you don’t take the time to explain yourself, they’re not going to consider you,” said Jill Tipograph, co-founder of Early Stage Careers, a career-coaching company for college students and 20-somethings. Early-career applicants especially need cover letters to differentiate themselves, she said. It’s about “laying out the facts and the foundation of what you’re bringing to the table,” she said.
Yet only 38% of candidates attach cover letters to their applications even when it is requested, according to ResumeLab, which provides advice and online templates for building résumés and cover letters.
Kevin Grossman, president of the Talent Board, a nonprofit hiring and recruiting research group, said that many of the employers his organization works with no longer look at cover letters, in part because of automated application-screening tools. The exception, he said, is when hiring volume is smaller and recruiters have the time.
Another reason cover letters often fail to impress: “Most of them are extremely generic,” said Keith Wolf, managing director of recruiting firm Murray Resources, who advises job seekers to tailor them to the specific job opening.
Spending even a few minutes dashing off an enthusiastic message can reveal a person’s strengths and motivation in ways a résumé often can’t, said Sherrod DeGrippo, a vice president at a security-software company whose division hires about 10 employees each quarter.
“Don’t agonize over it—it’s not a make-or-break,” she said. “It’s a help, it’s a bonus.”
Hadassah Williams, 30, who works in administration, has used a similar strategy. She started writing more casual notes instead of formal letters when a job listing indicates cover letters—which she hates writing—are optional. They take about 40 minutes to write and can be customized to the role she is applying for, she said.
She said she has sometimes included these blurbs in the cover-letter field of applications or sent them directly to recruiters on LinkedIn.
Julie Fugett’s views on cover letters have evolved over her career. As a chief information security officer in higher education, she used them to evaluate candidates’ attention to detail and communication skills.
But when she recently applied for a vice president role at a cybersecurity firm, Ms. Fugett decided not to submit one. She had seen tech-industry pushback to the practice on social media, and she didn’t want to appear out of touch.
She got the job—and was delighted she could skip the cover letter. She has since wondered whether cover letters can invite bias against talented candidates who, say, speak English as a second language.
“I have yet to meet a single person, including myself, that enjoys writing a cover letter,” Ms. Fugett said. “I’ve still written plenty of them, but it’s always a little painful.”
Feature | 11/01/2018
Cailin Slattery Presents at 74th Congress of the International Institute of Public Finance
Cailin Slattery presented two papers at the recent International Institute of Public Finance (IIPF) conference in Tampere, Finland; "Campaign Spending and Corporate Subsidies: Evidence from Citizens United v FEC" and "U.S. State Incentive Spending and Large Establishment Spillovers." Both papers use a new data set that she created on state incentive spending, and are closely related to her job market paper on how states compete for firms using discretionary subsidies. She received valuable feedback on her papers and discussed her research with Public Finance scholars from all over the world, including recent UVa grad Elliott Isaac, who is now an assistant professor at Tulane University. The conference was not only filled with research sessions, but included a walking tour along the Pyynikki Ridge, the world's highest gravel ridge, which was formed by sediment accumulating between two glaciers.
Feature | 01/13/2017
Three UVA ECON Grads Publish Paper with Prof. Steve Stern (Stony Brook)
Variation in mental illness and provision of public mental health services
Authors: UVA Grads: William C. Johnson, Michael LaForest, Brett Lissenden & Prof. Steven Stern (Stony Brook).
Published recently in Health Services and Outcomes Research Methodology, this paper is an expansion of a previous study by Professor Steven Stern which estimated the local prevalence of mental illness in the Charlottesville area. That earlier paper caught the eye of state senator Creigh Deeds, who recognized how useful it would be to have the analysis extended to the entire state of Virginia. Three Economics graduate students then helped Professor Stern estimate the prevalence of mental illness within 30 geographical regions in the state of Virginia. After accounting for insurance status, they were able to compare estimates of demand for public mental health services to supply of public mental health services in each of those 30 geographical regions. Over 66,000 uninsured and Medicaid-insured individuals in Virginia were found to be without public mental health services. The deficit varies locally, with several regions having no deficit and others having 5,000 or more untreated people. Though a large portion of the unserved people with mental illness are uninsured, many would be insured for mental health services through Medicaid if Virginia were to accept the Medicaid expansion associated with the Affordable Care Act. The paper's findings suggest that states can better serve populations relying on mental health care by allocating scarce public mental health dollars to localities reflecting their need. The co-authors' results have been presented to a Virginia Senate joint subcommittee on mental health. The chart below shows the deficit of mental health services across Virginia's Community Services Boards for three values of PSUs (primary sampling units).
Feature | 12/08/2016
Professor Eric Chyn: The Future of National Housing Policies
"Even before graduating from his Ph.D. program in August, Eric Chyn earned widespread acclaim for research that, according to its coverage in The New York Times, “could fundamentally reshape national housing policy.”
Chyn, who will start in January as an assistant professor in the University of Virginia’s Department of Economics, wanted to learn more about how living in public housing impacts a child’s income and employment over his or her lifetime.
“Broadly, my interest is in studying government programs and the way we spend money in society to make people better off, especially those who are disadvantaged,” Chyn said. “Housing assistance is a very sizeable and notable expenditure in the grand scheme of what the government does.”
Existing studies showed that children whose parents opted into a lottery system moving them from public to private housing tended to fare better as adults, especially if they moved while very young. However, Chyn found a gap in that approach: only 25 percent of eligible families applied for the lottery. He conjectured that parents who applied were already particularly motivated to protect their children from negative environments, and therefore might not be the best sample to study. What, he wondered, happened to the other 75 percent of children?"
- Caroline Newman, see original article.
Photo credit: Dan Addison, University Communications
Feature | 08/01/2022
Daniel Harper presents at the Economics Science Association Word Meeting
Daniel Harper, a fifth-year student, presented his paper “Borrowing in A Crisis: An Experimental Study of Asset-Backed Borrowing in a Financial Downturn,” at the Economic Science Association Word Meetings in Boston/Cambridge, MA. The paper investigates the effects of asset-backed borrowing and investor panic on asset prices and market efficiency in an economic downturn.
Feature | 04/22/2020
Haruka Takayama Hasegawa Wins an All-University Graduate Teaching Award
Haruka Takayama Hasegawa, winner of an All-University Graduate Teaching Award for her dedication to undergraduate teaching and outstanding achievement in that area, is recognized in UVA Today's article, "There's Something That Makes These Graduate Instructor's Special."
Feature | 08/22/2016
PhD Alum, Jessica Howell: Exploring matching between students and Colleges
A new book explores the challenge of helping more students succeed at a broader range of institutions. Econ Phd Alum, Jessica Howell, discusses this book and it's research in an interview with the Chronicle of Higher Education. Read the full article here.
Feature | 09/27/2016
ARTICLE- HOW TO PREPARE FOR THE "TELL ME ABOUT YOURSELF" INTERVIEW QUESTION
"We all know the question is coming: So tell me a little about yourself.
Here’s the funny thing: even though we’re expecting it, most of us don’t feel fully prepared to respond. How can this question seem like a no-brainer, but then end up being so tricky? Well, for one, it’s easy to get mired down by all the possibilities of just how to answer it. The key is to approach the question strategically, making sure it has a clear story and distinct purpose. Here are 4 ways to help you prepare to ace the prompt: “Tell me about yourself.'"-Caroline Grey
Click here to read the rest of the article
Feature | 04/01/2017
ARTICLE - HOW TO TURN YOUR INTERNSHIP INTO A FULL-TIME JOB
Click here to read the rest of the article.
Feature | 02/03/2017
Beating Corruption with Technology
"More than 1.9 billion individuals in the developing world benefit from social safety net programs: noncontributory transfer programs that distribute cash or basic in-kind products to the poor. But despite their importance, high levels of corruption often stifle the effectiveness of these programs. If cash transfer programs are particularly prone to graft, then in-kind programs should be preferred in practice. In a recent paper, Muralidharan et al [UVA Prof. Sandip Sukhtankar, and UC San Diego Profs Karthik Muralidharan & Paul Niehaus] report evidence to the contrary by showing that use of a modern banking technology—biometric smart cards—can help to drastically reduce corruption in cash transfer programs."- Rema Hanna
Feature | 04/13/2022
Undergraduate Club Flash Seminar with Steen Jorgensen
Feature | 10/10/2016
ECON Alum: Diane Cherry, Class of '89
At the time of the production of this profile, Ms. Cherry worked as the Environments Policy Manager at the Institute of Emerging Issues. Learn more about Ms. Cherry's current position here: http://www.energync.org/page/bio_diane_C/Diane-Cherry.htm
Why study economics?
Economics is one of the most important topics that explain everyday life. It tells us why consumers and firms behave the way they do and how they relate to each other and to institutions such as the government. As two examples -- economics explains how firms react to different types of regulation and how the Federal Reserve’s monetary policies impact the interest rates consumers face when they go to finance the purchase of their house. Economics can be applied to all kinds of sectors such as healthcare, the environment and education. In nearly every issue or discussion people want to know who is impacted and how much something costs. All of that requires an understanding of economics. More broadly, economics teaches analytical and problem solving skills that employers continually search for in their employees.
2. What course/professor was influential and why?
Dr. Ed Olsen was the most influential professor I had when I was at UVA. I was part of the economics distinguished majors program and spent my fourth year doing a research paper on how announcements of money supply affect interest rates and exchange rates. I really enjoyed the research aspect of the work and wanted to continue as a research assistant in some capacity after I graduated. Dr. Olsen provided me the names and contacts of several organizations in Washington, D.C. that hire research assistants out of college and I was fortunate enough to work for one organization for two and a half years before I went to graduate school.
3. What made the economics department attractive to you/what made it special?
The economics department was special for a number of reasons. First, I really enjoyed the distinguished majors program and the small number of students that were part of that group. We socialized together and studied together and many of us had similar career interests. Second, I really had a chance to get to know my professors – Dr. Charlie Holt and Dr. Ed Olsen were two of them-- and I have even stayed in touch with them fifteen years later. Third, the department offered a variety of classes in everything from labor economics to public finance and all of these topics explored economics in a different way. There really was something available for anyone and now the department offers even more classes than when I attended UVA.
4. Your job title is Environments Policy Manager. In your own words, what is it that you do and how is your job related to your major?
I am the Environments Policy Manager at the Institute for Emerging Issues, a public policy organization housed at NC State University and founded by former Governor Jim Hunt. In my job, I work collaboratively with individuals from all sectors and areas of North Carolina to build collective action in energy, infrastructure, transportation and the natural environment. I also teach U.S. Environmental Policy, Written Communication for Public Policy and other courses in the MPA program at NC State University. Previously, I worked as a senior policy advisor for North Carolina’s environmental director and as a Presidential Management Fellow for the EPA.
The environmental and energy field is very divisive. Economics plays an important part of the discussion of what the state of North Carolina should do to encourage everything from the development of renewable energy to the deployment of broadband in rural areas of the state. The other factor that permeates most of the discussions I am part of is the role of the private and the public sector in solving energy and environmental issues. Depending on one’s viewpoint, there should either be a strong role for the government or the outcome should be left to market. The conversations are interesting and economics inevitably has a big piece of the discussion.
5. What is an interesting project you’ve worked on?
One of the most interesting projects I worked on recently was developing a workshop for about one hundred stakeholders across North Carolina on the implications of the EPA’s Clean Power Plan (CPP) on North Carolina’s future energy footprint. The CPP’s carbon dioxide standards reflect “the best system of emission reductions” and each state is obliged to develop an individual program for compliance. This set of regulations serves as a national signal for the end of coal as the backbone of our nation’s energy needs. Meanwhile, the Plan also opens up enormous market opportunities for manufacturers of energy-efficient products and components of renewable energy systems. North Carolina’s manufacturers excel in both of these product sectors.
6. What advice do you have for students about their time in the department in relation to preparing for next steps?
When I was in my third and fourth year I knew I wanted to work for a while before going to graduate school but I didn’t know where or in what field. I found the professors an amazing resource to talk with about the opportunities available to economics majors. Dr. Olsen in particular was really helpful and provided me the names of over a dozen organizations that hired research assistants for two or three years. I interviewed with several before deciding upon Resources for the Future and that job has influenced my entire career trajectory.
7. What do you know now you wish you had known while you were majoring in economics at U.Va.?
I wished I had talked with more students who took different career paths following graduation. Economics is a major that leads to a number of careers. I never really considered consulting or law school but that was in part because I never had exposure to students who worked in those fields. I believe that the best way to find your path going forward is to get exposure to as many people who have different careers. Each time you learn something you don’t want to do it is a clearer path to finding what you do want to do.
8. Who (or what) has been influential in your career and why?
My graduate degree in public policy from the Kennedy School of Government at Harvard University was very instrumental toward my career path. I had an interest in policy issues back in the early 1990s when I left UVA and worked in Washington, D.C. but graduate programs in public policy then were not nearly as prevalent as they are now. I kind of backed into a public policy career after eliminating a Ph.D. in economics as one of my career options. My boss at Resources for the Future where I worked as a research assistant had contacts at the Kennedy School of Government and suggested that I apply there for graduate school.
9. What is on the horizon for you/other career goals you have in mind?
I have really enjoyed teaching public policy courses at NC State University and hope to continue teaching in the indefinite future. Since I’ve been working about twenty years in public policy it is fun to teach public policy tools to the next generation of professionals.
10. Tell us a fun fact about you.
I really enjoy running and have already completed five half marathons throughout North Carolina. I don’t think I’ll ever train for a full marathon but running is a great way to relieve stress and ruminate about things that require a lot of thinking.
Feature | 09/19/2016
ECO NEWSLETTER 9.19.16
This week's newsletter is loaded with opportunities for economics majors, curated specifically for you!
Feature | 08/30/2018
What to Wear: Dressing for the Job Search
Feature | 01/18/2018
ECO Winter Break Trek to NYC 1.12.18
The ECO and nine students trekked to the NYC area over Winter Break to visit two power-house firms run by economics majors. First we visited private equity firm Kelso in Manhattan followed by a visit to W&P Design in Greenpoint, NYC an urban-industrial hot spot in Brooklyn. Details of our visit follow, but one important take away from both visits was the power of the UVA network. Our alumni discussed this directly and indirectly as benefiting them personally and in their professional work.
At Kelso, we met UVA economics alumnus CEO Frank Loverro and Managing Director, UVA History alumnus Frank Bynum in their plush offices on Park Ave. Firm V.P. Bill Frayer. (Colgate University) walked us through the recruiting process for PE and several deals that the firm has worked on. Kelso invests primarily in middle market companies in Energy, Healthcare, Financial Services, Consumer Goods, Industrial, and Media. We learned about the deal process from idea sourcing through valuation, purchasing, management, and selling. We also heard how both Frank and Frank acquired their jobs at Kelso and what their work is like at the senior level. We met UVA McIntire School alumnus Forrest Compton, who discussed his background at Credit Suisse before moving to Kelso and Dan Slutsky's (Brown) experiences with Kelso as an Associate after moving from M&A at Bank of America. The attending students made some great connections for future opportunities. Kelso looks forward to staying connected to the department.
Our next stop was W&P Design, "a unique full-stack product design company. The firm sees ideas through from design, to manufacturing and delivery. Economics alumnus Josh Williams gave us a tour of their open, contemporary multi-use space in an industrial section of Brooklyn overlooking the Hudson River. It offered a different office culture than Kelso and our UVA students had a chance to observe these very different work environments. The space houses a design team, sales team, operations and logistics, marketing, and production team. Manufacturing and most distribution are off-site. In just five years the company has grown from a staff of 2 (Josh and fellow UVA alumnus and long-time friend Eric Prum) to 80 employees in the states and 100 employees including their overseas staff. Their first round of major funding was for a particular product "the mason shaker" and was crowd-sourced through Kickstarter. It was one of the most successful Kickstarter campaigns at the time seeking a goal of $5,000 and reaching $75,000. The company's products are in catalogs all over the world and in stores like Nordstrom, Bloomingdales, and Williams-Sonoma. But even with that national and international reach, they keep much business close to home in NYC and in Central Virginia. Their primary distribution center is close to Lynchburg.
A new major project for Josh and Eric is the launch of their consumer goods incubator, Assembly. It is an innovative model where ideas are conceived through the company leadership and then teams are hired to build the products and launch the newly founded company. They are hiring summer interns in sales and design, and full time staff in sales, design and project management. They are also seeking Co-Founders of their newest brands.
Both Josh and Eric had other jobs before launching W&P, Josh with Lehman Brothers/Barclays and Eric working for a paintball manufacturing company. They got their first taste of owning their own business running a catering company in Charlottesville while they were students.
After leaving Barclay's, Josh attended Culinary School in New Orleans and soon after Eric and Josh launched W&PDesign, they brought on a former intern and friend, UVA alumna Elizabeth Tilton, to build out and run their marketing department. You can read more about all three UVA alumni and W&P Design here.
This first ECO trip was a huge success and we thank our alumni for making it so.
Feature | 03/28/2017
Top 40 Grad programs: Economics tied for No. 29 overall!
The following Graduate School of Arts & Sciences all ranked in the top 40 programs in their respective disciplines, as measured by U.S. News:
- English: tied for No. 6 overall, tied for No. 5 in American literature before 1865;
- Psychology: No. 17 overall;
- Corcoran Department of History: tied for No. 18 overall, tied for No. 1 in U.S. colonial history;
- Economics: tied for No. 29 overall;
- Sociology: tied for No. 32 overall; and
- Woodrow Wilson Department of Politics: tied for No. 37 overall.
Feature | 01/16/2017
Thoughts on the 2017 US Economy: Prof. Ed Burton & Prof. Richard Evans (Darden)
Thoughts on the 2017 Economy from ECON Prof. Ed Burton (ECON 4340 & 4370), and UVA Darden School of Business Prof. Richard Evans.
Photo credit: Dan Addison, University Communications
Feature | 08/17/2019
9 Tips for Thinking on Your Feet When You're Put on the Spot and Have to Sound Smart
9 Tips for Thinking on Your Feet When You're Put on the Spot and Have to Sound Smart
By: Stacey Lastoe
Source: The Muse
1. Focus on What’s Important
If you’re nervous [about speaking up in an impromptu setting], it probably means you’re overly focused on how other people are going to perceive you. Instead, focus on what’s being discussed and think about three questions: What do I not understand which could be better clarified? What question could I ask that would advance the discussion? What perspective or insight do I have that’s shareable? Don't worry about ‘looking smart’ or making some amazing point or comment. It’s a discussion, not a debate.
2. Repeat the Question
One of the hardest parts of contributing to a conversation or answering questions in meetings is feeling as though you are under pressure to produce an expected response. One way to overcome this feeling is to not jump into your feedback too quickly. If your response isn’t clear, it can come off as an incomplete thought, or it may fail to address the question. To calm your nerves and come up with a thoughtful answer, simply repeat the question that was asked. This will ensure that you completely understand what’s going on before you attempt to contribute to the conversation.
3. Call Upon Your Knowledge
People usually talk about the things that are of interest to them (professionally or personally), or information most relevant to the organization. Use your knowledge to generate questions that demonstrate your involvement in the conversation. Engaging others by asking questions puts them in a position to share more information, and it takes the stress and pressure off of you. For example, if one of your managers or leaders discusses the company mentoring program, ask her about her best or worst mentoring experiences. You can relay your enthusiasm or interest by restating highlights of what she shared.
4. Take a Deep Breath Before You Do Anything Else
If someone asks you a question that catches you off guard, pause, look thoughtful, and say, ‘That’s a really interesting question. Let me take a minute to think about it.’ This gives you a moment to take a deep breath and collect your thoughts before responding. You’ll be less likely to get flustered. It’s a strategy that works well in interviews, too, if you’re asked a question you don’t have the answer to.
5. Project Confidence
This all boils down to having confidence in yourself. If you know who you are and feel good about what you’re doing, are regularly and positively engaged in your work, have learned the industry and, in general, have strong interactions with your peers and managers, you should feel comfortable sharing your insights and opinions in any given situation.
6. Stop Being Afraid
Get over your fear of looking stupid. If you make a mistake and say something that isn’t immediately met with nods of agreement or approval, that’s OK. Follow your inner voice, and have your own thoughts. Asking a question is an easy way to assert yourself without risking too much if you’re especially nervous about adding to the conversation. But, if that’s the case, and your fear is making you mum, I recommend reading Patricia Ryan Madson’s Improv Wisdom, Don’t Prepare, Just Show Up.
7. Take a Moment of Silence
Silence can be golden, so don’t be afraid to use it. If you’re unsure of how to answer a question, or are searching for the right words, it’s OK to pause for a bit before speaking. You can say, ‘Let me think,’ or ‘That’s a great question,’ while you piece your thoughts together in your mind. These phrases help buy you time until you’re ready to present the ideas swimming in your brain.
8. Provide Your Point of View
I find it fascinating that when we’re asked for our input on a given topic, we often freeze up, or we feel unqualified to speak. You hold back because you don’t think you have enough expertise. But, you don’t gain expertise by keeping your mouth shut. You gain it by putting your ideas out there, and following what sticks. One of the biggest revelations I’ve helped my students achieve, is understanding that, while you may not feel entitled to share an expert’s opinion, you are always entitled to share your point of view. When you acknowledge that you’re providing your point of view, it takes the pressure off of needing to know everything, and helps you feel at ease sharing your thoughts.
9. Avoid Going on the Defense
When we feel caught off guard, it can be easy to get defensive. If, during a meeting or spontaneous conversation, a colleague rattles off a litany of criticisms as to why your proposal won’t work, resist rejecting them by responding with ‘No, but...’ Instead, try the ‘Yes, and...’ strategy, a technique borrowed from improv comedy. By saying, ‘Yes, and... here’s how we overcome those challenges...’ you move the conversation forward. You inspire creative problem-solving, invite possibility, and create an atmosphere for constructive conversation.
Need a little help in your job search? Book one of these coaches for a one-on-one strategy session.
Feature | 09/23/2016
Networking for Economics majors- Part 2 of 2
Part 2 of two articles for Economics majors, written by Professor Bill Conerly.
Feature | 12/11/2018
Ben Hamilton Finds Conference Presentations Excellent Preparation for the Job Market
On October 6, at the 74th Midwest International Trade Conference at Vanderbilt University, I presented my job market paper, “Learning, Externalities, and Export Dynamics,” in a 25-minute talk to an audience of economists studying international trade. In November, I presented my job market paper twice at different venues in Washington D.C. First, at the 88th Southern Economic Association annual meeting, where I received constructive feedback on a condensed 15-minute version of my talk from students and professors of varied concentrations. Next, at the second Mid-Atlantic International Trade Workshop, hosted by the Federal Reserve Board, I presented a longer, 40-minute version of my talk and benefited from helpful comments and discussion with other trade economists. Having the opportunity to present my talk in a variety of formats, receive questions from audiences unfamiliar with me and my work, and network with many people in my field was a valuable experience, particularly as I prepare to go on the job market during the next few months.
Feature | 09/25/2018
Make a Powerful Interview Impact! (First Impressions Count!)
Feature | 01/09/2023
Mahalanobis Memorial Medal for "outstanding contributions to quantitative economics, while working in India" for Tarun Jain (PhD 2009).
The Indian Econometric Society awarded Tarun Jain the Mahalanobis Memorial Medal (M3) in the memory of the late Professor P. C. Mahalanobis for "outstanding contributions to quantitative economics, while working in India
Feature | 09/12/2016
ECO NEWSLETTER 9.12.16
Updates from the ECO with Jobs, Events, and Workshops!
Feature | 08/01/2021
Blog: Economics Career Office - What You Can Be Doing Now
August 2, 2021
Hello Economics Majors,
My name is Jennifer Jones and I'm the Director of your Economics Career Office (ECO), which is dedicated to the career planning and preparation of our Economics majors. I'm looking forward to working with you this academic year as we all return to the Grounds. Hundreds of students used the ECO's services over the last year, and we welcome back our new and returning students. If you're just meeting us, please check us out at economics.virginia.edu/career, then click on "Students" to get to know us better.
It is truly a privilege for me to work in the Department of Economics focusing on career preparation and for you to have your very own career services office in Monroe Hall. The office was founded by your faculty and generous donors, the latter who are recognized on a donor plaque outside of Monroe 120. Check it out sometime! Many of these alumni are working in jobs and fields that will surely interest you.
A few items of note as we begin the year together and a couple of action items:
- Connect with me on LinkedIn and join the Economics Alumni Group on LinkedIn. This will quickly connect you to hundreds of other economics alumni. (You need not have a comprehensive profile to connect with others. The basics are fine.) LI is also the place I post jobs for our graduates - entry-level and experienced.
- I'm including here a link to our ECO timeline, which recommends a "syllabus/strategy" for your career planning based on your class year/graduation date.
- Different industries and sectors recruit at different times. Check out the recruiting timeline in the Hoos Career Guide (page 47) to learn more about who recruits when. Early fall tends to bring in large firms that know their hiring needs in advance.
- You will receive a newsletter from the ECO most weeks when classes are in session. Currently, newsletters are being sent via Mailchimp, but we may move to Salesforce/Marketing Cloud over the next few weeks. We will keep you posted.
- Attend the ECO Orientation on August 23! For those of you looking for internships and full-time jobs for this fall and beyond, please join me and alumnus Kenton Kivestu (Econ 2010 and Founder of RocketBlocks) on Monday, August 23 from 11 am-1 pm. Here you will be oriented to:
- the dozens of resources available to you as Economics majors
- a Resume Review session with real resumes from your peers in the department
- Interviewing Techniques for Management and Strategy Consulting
- a demonstration of the RocketBlocks platform, which the ECO licenses to help you prepare for consulting, product management, and product marketing
- Update your profile in Handshake. Choose industries that interest you, geographic locations, and consider making your profile viewable to employers. Career Counselors and employers use this information to message you with relevant opportunities.
- ECO appointments are held on Wednesdays and Thursdays. Check out Handshake for appointments. If our schedules don't align, please write to me at firstname.lastname@example.org.
- Our online resources include:
- A database of alumni, who want to answer your career-related questions, housed in Collab/ECO Resources
- A list of pre-doc research opportunities and undergraduate research opportunities on the Grounds
- Career Guides by Vault, an industry leader in college career development materials
- ECO Events, which typically are informal, low-stakes networking events with alumni or professional development workshops facilitated by our director, employers, or alumni
- Industry Overviews created/curated by the ECO
- Lists of Think Tanks and Government Agencies that typically hire our majors
- Professional Development advice and guides created and curated by the ECO. Examples are resume guides and samples, elevator pitch templates, informational interviewing tips and strategies to organize your materials.
- Salary, hiring, and graduate school outcomes for the last seven graduating classes
- Youtube videos highlighting many of our alumni panels
- and more!
Our wonderful ECO student staff this year includes the students listed below. If you receive emails from them, please open them! We send Job Blasts (from alumni and employers), Event Blasts, and Resource Blasts.
- Carly Dotson (Economics and English Lanaguage and Literature 2022) Writer
- Ella Fendley (Media Studies, 2024) Marketing Coordinator
- Flora Kim (Economics and Commerce, 2023) Senior Event Coordinator
- Chloe Leo (Psychology, 2022) Senior Event Coordinator
- Luca Pfeiffer (Media Studies, 2022) Media Designer
- Maggie Rutherford (Economics and Media Studies, 2024) Event Coordinator
- Mithra Dhinakaran (Economics and Foreign Affairs, 2023)
- Robbie Eriksson (Economics and Computer Science, 2022) Salesforce Coordinator
Our Student Advisory Board (ECOSAB) meets bi-weekly to discuss career office programming and to plan the annual Economics Undergraduate Career Forum. You may reach out to the Chairperson with questions or comments in addition to writing to me. The Board Members are:
- Brian Buck (Economics, 2024) Board member
- Bryson Webb (Economics, 2022) Board member
- Jenna Short (Economics and Statistics 2022) Board member
- Kaitlyn Ockerman (Economics and Statistics, 2022) Chairperson
- Wendy Tang (Economics and Computer Science, 2022) Board member
- Zach Garfinkel (Economics, Statistics, Commerce, 2023) Board member
Please remember to join us for the August 23 ECO Orientation and on September 3 for our Major to Major Career Coaching Fair.
Until next week when I'll write with more tips and advice, wishing you a wonderful week.
Jen Jones Director, Economics Career Office
Feature | 05/05/2022
Econ Grad Club Hike
Econ Grads enjoyed a study break with fresh air, open vistas, exercise, and comradery on a hike in the Blue Ridge Mountains organized by the Graduate Economics Club
Feature | 05/07/2021
Brett Fischer Wins UEA's Best Student Paper prize
Brett Fischer presented his paper, "No Spending without Representation: School Boards and the Racial Gap in Education Finance," at the Urban Economics Association's European meeting. His work, which describes the benefits of minority school board representation for minority students, won the UEA's Best Student Paper prize.
Feature | 07/11/2018
Dan Savelle Selected to Present at ZEW Conference
Graduate student Daniel Savelle was selected to present his paper “Discrete Choices with (and without) Ordered Search” at the 16th ZEW Conference on the Economics of Information and Communication Technologies in Mannheim, Germany. Dan presented his theoretical research that relates ordered search with classic discrete choice. Other interesting topics presented at the conference included platform economics, bias in review systems, analysis of social media, and machine learning. This conference blends theoretical, empirical and policy oriented research to provide cutting-edge results pertaining to the digital economy.
Feature | 08/01/2021
Article: Careers & Leadership: Hybrid Work's Uneven Playing Field
The Hybrid Playing Field
Illustration: James Steinberg
Uneven odds: Working from home these many months has come with a lot of ups and downs. But for many remote professionals, one thing held constant: Nearly all of their colleagues were also remote, and few had a choice. If you're someone who thrives under remote conditions, you didn't have to make excuses for it.
Now that playing field is getting shaken up all over again. Some colleagues are returning to the office five days a week. Others are testing a hybrid schedule, or opting not to go back at all.
If you’re the one leaning into flexibility, how do you make sure you’re not unintentionally leaning out of your career? And what happens if certain subsets of the workforce, like mothers, are less likely to return to the office?
Some employers say they are watching closely as to whether hybrid work creates two classes of employees—those who are there for lots of office facetime with bosses and others plugging away, often unnoticed, at home. Surveys show many bosses assume off-site employees are doing less.
Some working parents of both genders say they're aware of the career risks of staying remote. “I know the remote part isn’t going to help me, but I’m willing to sacrifice it right now,” says Jessamyn Edwards, a product designer who moved from the Bay Area to a house in rural Spring Grove, Va., and is still breastfeeding her youngest daughter.
Employers, too, face risks with how they approach remote work. JPMorgan Chase, Goldman Sachs and other Wall Street banks have taken a hard-line approach with office-reopenings, beefing up in-person staff five days a week in New York even though it might mean losing talent. Rivals including Citigroup see an opening, betting a more flexible approach will help them recruit top traders and deal makers.
As one remote-work consultant advising the banks says: “The great experiment starts…when some go back to the office full time and some don’t.”
— Vanessa Fuhrmans, deputy careers bureau chief, WSJ
Reach me at email@example.com or on Twitter @vjfuhrmans.
From childhood puzzles to Roblox: Who hasn't fantasized about parlaying a playtime activity from youth into a livelihood as a grownup? Andrea Fletcher, a full-stack software engineer at online game platform Roblox who has also worked at Google and Apple, says her career really began with a childhood love of logic puzzles that involved math and patterns. She walked us through how she turned that into a dream career.
'Financially hobbled for life': Elite universities in recent years have awarded thousands of master’s degrees that don’t provide graduates enough early career earnings to begin paying down their federal student loans, according to a WSJ analysis. One example: Recent Columbia film program graduates who took out loans had a median debt of $181,000, yet half of the borrowers were making less than $30,000 a year.
Feature | 09/26/2019
New Graduate Economics Club Committee Members
Please welcome the 2019 Graduate Economics Club Committee members, from left to right: Danielle Parks (1st year), Suchi Akmanchi (2nd year), Dan Harper (3rd year), Joe Anderson (1st year), Fiorella Pizzolon (President, 4th year), and Pooja Khosla (4th year).
Feature | 08/04/2016
Quartet Promotes Financial Inclusion
Feature | 01/26/2018
Christopher J. Ruhm, Professor of Public Policy and Economics, finds availability at the source of the opioid epidemic
Feature | 10/07/2022
Do You Have a Career Fair Pitch
Do You Have a Career Fair Elevator Pitch?
Article written by Career Fair Plus.
Do you have an elevator pitch ready for your next career fair? An elevator pitch is a quick and memorable summary of your background and career interests. The name is a throwback to a time when prospective employees (or salespeople) waited in building lobbies to jump in an elevator with an executive. If the pitch went well, they chat all the way to the executive suite. If not, they would get off on the next floor, return to the lobby, and try again.
What is your goal?
Career fairs are designed to give you multiple opportunities to meet recruiters from organizations looking for college hires like you. Instead of lurking among lobby foliage hoping for a receptive audience, you'll walk up to a table where recruiters will welcome you. Still, your goal is to sell yourself quickly by making a good first impression in 30 to 60 seconds.
What should you say?
Start with your basic information: name, year in school, and major. Follow this with at least one accomplishment or skill relevant to your job search. This is the perfect time to briefly describe an internship or research applicable to your career field. If you don't have any real-world experience yet, you can talk about a paper or project from one of your classes. Wrap-up your pitch by sharing your career interests and goals, then offer the recruiter a copy of your resume. Carnegie-Mellon University has an excellent guide to preparing your elevator pitch with examples.
Be prepared to succeed
If your introduction goes well, you may spend the next several minutes talking to the recruiter. Keep the conversation moving by preparing a list of questions that you can ask. See our article on 8 Questions to Ask Employers for ideas. Also be ready to describe your strongest skills and abilities. Making a list of your strengths is also a good way to boost your confidence before you go to the career fair. Include details and specific examples.
Customize to each employer
Customizing your introduction to each recruiter gives you the opportunity to show that you are a serious job candidate. Take a few minutes to research employers on Career Fair Plus or the company's website so that you know what job openings the recruiters are trying to fill. It will only take a few minutes to formulate a couple questions for each company, but even that short amount of time will make you stand out from other candidates. Review your question list between each recruiter so that you remember the details accurately.
Send each recruiter a thank-you email right after you leave the career fair to build on the success of your introductory meeting. Thank the recruiter by name, restate your elevator pitch, and attach your resume. If something went wrong during your first meeting, this is the time to recover. Your elevator pitch is important, but it isn't the end of the world if you stumble on your words or another student interrupts you. Instead, this gives you the opportunity to show that you have the professional skills to pick up and try again.
A good elevator pitch is useful beyond the career fair floor. A succinct pitch sets a professional tone to your LinkedIn and other social media accounts. After practicing, your elevator pitch will become a natural part of the way you meet new people whether you are networking professionally or just meeting friends of friends at a dinner party. Take time to perfect your introduction and keep it update to date as you build your life beyond college. Preparation is the key to successfully navigating a career fair. If this is your first career fair, see some of our other blog articles like 5 Things to Know Before You Attend a Career Fair.
Feature | 04/22/2020
Yooseon Hwang Awarded 2020 Arts, Humanities and Social Sciences (AHSS) Summer Research Fellowship
Yooseon Hwang has been awarded a 2020 Arts, Humanities and Social Sciences (AHSS) Summer Research Fellowship for her research on how traffic congestion and environmental amenities affect home prices. Congratulations!
Feature | 11/20/2022
'Tis the Season to Advance Your Career: Networking Over the Holidays
’Tis the Season to Advance Your Career: Networking Over the Holidays
Article from Career Attraction
Networking is the single most important thing you can do to support your job search, and the holidays were made for networking. Take advantage of the holiday season to expand your network and to reconnect with contacts.
Below are a few tips for how you can mix a bit of business into the season’s festivities.
MAKE NETWORKING A PRIORITY
Many managers have a bit of breathing room around the holidays if their job doesn’t require significant year-end activity. Their phones ring less often, they receive fewer emails and they’re in fewer meetings since many colleagues and customers take time off.
Take advantage of this opportunity to significantly ramp up your networking. Identify contacts in your target employers. Reach out to them and ask to meet over a cup of coffee. They’re more likely to take the meeting when things are quiet. This is an outstanding opportunity to make more connections in a short period of time. Use the opportunity to make key connections at the companies you’re most interested in.
Set networking goals for yourself each week, and hold yourself accountable. Find alumni or LinkedIn connections at your target companies and schedule yourself a series of networking discussions over the holiday months.
CONSIDER LOW-HANGING FRUIT
Not everyone enjoys networking, but it’s critical to career success. Take advantage of the many social events during the holidays to network in a friendly and safe environment.
The holidays bring low-hanging fruit: family gatherings, celebrations with friends, social events with professional associations and even the office holiday party. With little effort, you can meet a large number of interesting people over the holidays. Be very clear with family and friends about what you’re looking for and what companies you’re most interested in; they may have valuable connections they can introduce you to. Simply ask new contacts what they do, and it will often spark an interesting conversation. You can always ask to follow up for more details.
PREPARE FOR OPPORTUNITIES
The key advantage of all this year-end networking is that employers often have new positions approved with the start of the new year. Perhaps the person you met with will have a need and will remember the positive impression you made. Maybe the position is in another part of the organization, but your contact can forward your resume with a note of recommendation. Or there’s a chance you’ll even be given a heads-up about a position that will be opening soon.
While the formal hiring process may slow down a bit with key players on vacation, it’s a critical time to move your search forward with some strategic networking.
So, what are some do’s and don’ts for networking during the holiday season?
HOLIDAY NETWORKING DOS
- Be focused and strategic. Target the companies you’re most interested in and seek contacts in those organizations, particularly people in positions you can learn from.
- Set goals. Identify a target and monitor your progress for a set number of networking meetings each week or month.
- Be well-prepared. Research the company and the individual in advance. Have questions prepared.
- Keep the conversation going. Ask open-ended questions to gather more information.
- Be an active, engaged listener. Listen carefully to the advice and information the person is sharing, and take notes as appropriate.
- Prepare to share. Think about your personal elevator pitch.
- Follow-up is key. Ask who else they think you should speak to and if they would refer you, as well as if they have any professional associations they’d recommend.
- Add value for the other person. Find a way to assist them with information or a connection to keep the relationship mutual.
- Always send a thank you note. It can make a lasting impression.
- Stay in touch periodically. A holiday card with a personal note or even a New Year’s card would be a nice touch.
HOLIDAY NETWORKING DON’TS
- Don’t ask for a job. This is about building a relationship, not asking a favor.
- Don’t do all the talking. Do more listening than speaking; you want to learn about the company and the functional area of interest.
- Don’t be arrogant or disrespectful. This should go without saying!
- Don’t stalk the person. If they don’t respond after three attempts, take them off your list.
- Don’t monopolize their time. Steer clear of taking more time than specified without asking if they can spare a few more minutes.
- Don’t waste their time. If it’s something you could have learned on their website, don’t ask.
- Don’t over-imbibe at events. Stay focused on the networking. Eat prior to attending the event so you won’t be starving. Don’t try to balance both food and drink; always have your right hand available to shake hands. Never indulge in more than one drink. Keep your wits about you and put your best foot forward.
Let’s say you’ve stepped out of your comfort zone and made some great connections over the holidays. Now, how can you capitalize on these new relationships and keep them going once the holidays are over? Here are a few final tips for keeping your momentum with the job search as you enter the new year:
- When you see a position of interest at a target company after the first of the year, reach out to your contact.
- Use your contacts to gather insider information about the position and the team.
- Ask your contact to share your resume with the hiring manager — get in the short pile the manager will review instead of the mountain of online resumes.
- Follow up with relevant information or a new contact for your connection to continue to add value.
- Keep your contact posted on your progress.
With a little common sense and a bit of perseverance, you can make this holiday season a memorable one when it comes to advancing your career. Network the right way, and you just may set yourself up for success come January 1st!
Feature | 08/12/2016
How to Ace your Graduate School Interview
Graduate school interviews can be a nerve wracking process. Learn how to impress from this helpful article.
Feature | 03/14/2019
Joaquin Saldain Wins Tipton Snavely Award for Outstanding Summer Research
Third year PhD student Joaquin Saldain won the Economic Department's Tipton Snavely Award for Best Summer Paper (an honor he shares with Ga Young Ko). Joaquin describes the key issues and findings in his paper, High-cost Consumer Lending: Evidence and Theory, as follows: "High-cost consumer lending, e.g. payday loans in the U.S., typically charge an APR of 322% for small, short-term loans. It is often discussed whether they cause more harm than good but the current literature has not provided a clear answer. In this paper, I make two contributions that will be key in addressing the welfare effect of payday lending. Firstly, I document facts on households that take out payday loans. These households have low wealth and liquidity levels, relatively low income, high demand for credit and are more likely to have higher than expected expenditures or unemployment spells. In the second place, I develop a model of banking and payday lending that delivers, in equilibrium, an interest rate and loan size spread between these lenders as observed in the data."
Feature | 11/20/2017
ARTICLE - 12 CRUCIAL TIPS TO DESIGNING SMARTPHONE QUALITATIVE THAT GETS GREAT INSIGHT
"Over the Shoulder has been helping put smartphone-based qualitative into the toolkit of qualitative researchers and insight seekers for almost nine years now. We’re often asked by clients to list the biggest tips and “watch-outs” that smartphone qual practitioners should bear in mind to make their jobs easier and their deliverables to clients more valuable." - Ross McLean
Click here to read the rest of the article.
Feature | 11/28/2022
What’s the Ideal Length for a Cover Letter? —Plus Tips to Get Yours There
What’s the Ideal Length for a Cover Letter? —Plus Tips to Get Yours There
by Regina Borsellino from The Muse
When you have a task to complete, it helps to know what the end product should look like. It's especially true when you’re doing something you might find difficult—like writing a cover letter. How long should it be? What information do you need to include?
Hiring managers and recruiters are busy people, so you don’t want to disqualify yourself by writing a cover letter that’s too long. But you do want to make sure your cover letter is effective. “The cover letter should serve as an introduction to your resume, highlighting why you’re interested in the position, what you’re looking for in your next role, and how you can potentially add value to the position or company,” says Muse career coach Yolanda Owens, who has over 20 years of recruiting experience.
So how much space do you have to do all that? And how can you make the best use of that space?
How long should a cover letter be?
The ideal cover letter length is:
- Less than one page
- Three to five paragraphs
- Less than 400 words
At least that’s the approximate consensus we came to based on research and input from a few experts who have worked as hiring managers, recruiters, or both.
If this feels short, “Keep in mind that the cover letter is not a tell-all of everything you've done,” says Muse coach Emily Liou, a recruiter and HR professional. “You just want enough to position yourself as a fit and to pique the curiosity of the reader.” You don’t need pages and pages to do that.
In a survey of 205 HR professionals, ResumeLab found that 42% of respondents preferred cover letters between half and one page and 40% preferred cover letters that were less than half a page. Only 18% said they preferred cover letters longer than one page. Muse coach Steven Davis, a technical recruiter, advocates for a cover letter that “can be comfortably read in less than a minute.”
How do you write a cover letter that's just the right length?
Here are a few tips that'll get your cover letter to the ideal length:
1. Pay attention to your structure.
You may remember the five-paragraph essay from school: introduction paragraph, body paragraphs, and conclusion paragraph. Cover letters are structured similarly.
Basically, you should lay out your cover letter like this:
- Introduction (one paragraph): Your cover letter opening should be original and creative to draw your reader in. It should show your connections to the employer and your interest and excitement for the position, Liou says. You might also use this paragraph to explain that you’re making a career pivot or re-entering the workforce after an employment gap.
- Body (one to three paragraphs): Your body paragraphs should focus on the ways you can help the organization or team, Owens says. Talk about what skills and experience you bring to the company, and back up what you’re saying with past examples—but keep them concise.
- Conclusion (one paragraph): Your conclusion should be “a final paragraph thanking the reader for their time and reiterating your interest,” Owens says.
2. Figure out what matters to the employer.
“This is a great time to dissect what is most important to this position,” Liou says, so you can focus your cover letter on what your prospective employer cares about most. Go back to the job description and read it thoroughly. What’s listed first and what’s repeated? From there, Davis says, you should be able to identify the top skills and experiences they’re looking for.
Then, think about what in your background most exemplifies these qualifications—with an emphasis on situations where you’ve made an impact for your past employers, Liou says. These are the experiences you should recount in your cover letter.
3. Use concise examples to pique your readers’ interest.
Davis suggests using the “the STAR format without any details to create curiosity and motivate the interviewer to review the resume.” If you’re unfamiliar, the STAR method is a way of telling stories in an interview where you make sure that you hit on the situation, task, action, and result of the experience you’re recounting. Using a compact version of the STAR method in your cover letter will help show the impact you’ve had in past roles and how without adding too much length. So you might write something like:
“When my last company redesigned their website, I took the lead on layout, and by working as a constant liaison between our product team and our users, I helped produce a website that our users found 50% more intuitive and drew 33% more repeat users.”
4. Go beyond your resume—without regurgitating it.
“The cover letter should be a supplemental piece to your resume, not a summary,” Owens says. So don’t waste space regurgitating other parts of your application. “Use the cover letter to tell the employer what you want them to know about you that’s not on your resume,” or anywhere else, Owens says.
Focus your precious page or less on highlighting your relevant achievements and explicitly connecting your resume to the position. Don’t worry about including all of the context and details about your past jobs. For anything you talk about in a cover letter, your resume can “continue your narrative—filling in the remaining details of the where, when, and what of your work experiences and history,” Owens says.
5. Consider using bullet points.
And we don’t mean repeating your resume bullet points. We mean using a few bullet points to concisely relay a few key pieces of information that aren’t on your resume, but contribute to your qualifications as a candidate, without taking up too much space.
For example, Owens says you might create a “What I bring to the table” section with three to four bullet points (one or two sentences each). In a section like this, you can touch on a few more disparate topics such as your management or leadership style, pain points you can help your next employer with, or work environments you have experience thriving in, Owens says.
6. Use standard formatting.
Did you ever make your font size a bit larger or choose a slightly wider font to hit a page count on an essay for school? What about widening those margins? Did you ever do the opposite to slip in under a page maximum without having to do another editing pass at 3 a.m.? (Guilty!)
These tactics won’t fly for your cover letter (or your resume for that matter). Instead, stick to standard, easy-to-read formatting. Generally this means:
- Common fonts like Arial, Helvetica, or Times New Roman
- Font sizes between 10 and 12 point
- Margin sizes of about one inch on the top, bottom, and sides
- Lines that are single spaced (1.15 max) with an additional space between paragraphs if you'd like.
Don’t make your cover letter harder to read by cramming as much onto a page as possible. Also keep in mind that your cover letter often passes through the same applicant tracking system (ATS) that your resume does—so any flashy formatting could trip up the software that parses your application materials.
7. Trim the excess.
If your cover letter is still too long, take another look and trim out anything extra that doesn’t need to be there. Some things to cut include:
- Content about how much you’d enjoy doing the work, Davis says—beyond what you need to express enthusiasm.
- Mentions of years of experience: While the job description may call for three years of experience with a CRM (customer relationship management) program, you don’t need to use your cover letter to write a word problem where your six months experience from one internship, three months each from two classes, and two years at your last job equals three years.
- Extra details in your examples, especially those that are found on your resume or don’t contribute to your strength as a candidate
- Filtering language: This includes phrases like “I think” and “I feel.” You don’t “believe you can help” a company solve a problem, you can help a company solve a problem.
- Overused or cliché phrases
- Anything about what the job would do for you: Focus on what you can do for them.
8. Follow any instructions in the job description.
Finally, all of the above are just guidelines. The best indicator of what an employer is looking for in a cover letter—length-wise or otherwise—is the employer itself.
So if a job posting tells you that a cover letter should be a different length than we’ve indicated, default to the job description. If a job posting tells you that a cover letter should include different things than we’ve indicated, default to the job description. If a job posting tells you that you shouldn’t include a cover letter at all, default to the job description.
Feature | 05/23/2022
Gayoung Ko Presents at the International IO Conference
Gayoung Ko, a sixth-year student, presented her paper, "Gender Discrimination in the Gig Economy: Evidence from Online Auctions for Freelancing," at the International Industrial Organization Conference. This paper proposes an empirical framework to study gender discrimination in an auction-based online platform for freelance jobs.
Feature | 01/31/2022
ECO Article: The Ten Best Jobs for Introverts
Below the ECO is sharing the 10 Best Jobs for Introverts as written by The Muse. Our majors may be particularly interested in numbers 1, 5, 9, and 10. But they are all worth a glance!
Not every job is the right fit for every person—so it makes sense that you’d be looking to find a job and career path that feels well-suited to your personality.
While some folks might thrive in a role where they’re interacting with people all day, for others—particularly introverts—that might be completely draining.
So if you’re an introvert, you might wonder how to find a job that plays to your strengths, feels true to who you are, and leaves you feeling energized and excited at the end of the day. Rest assured, there are plenty of options.
What, Exactly, Is an Introvert?
Before we jump into the perfect jobs for introverts, let’s take a minute to define what an introvert actually is.
An introvert “gets their energy from solitude,” says Stephanie Thoma, leadership coach and author of Confident Introvert, a professional networking book for introverts. So while an introverted person can definitely hold their own in social situations, the experience can feel exhausting—and after extended periods of social interaction, they typically need alone time to rest and recharge.
One major misconception about introverts is that they’re shy. But that’s not necessarily true. While introverts can be shy (just like anyone can be shy!), introversion is not the same thing as shyness. “Deriving your energy from solitude doesn’t exclude you from feeling confident and comfortable in the presence of others,” Thoma says. “It just means you may need to take more care to preserve and conserve your energy when socializing.”
What Makes Certain Jobs Better for Introverts—and What Should Introverts Look for in a Role?
Because introverts get their energy from solitude, jobs that allow for independent working time are typically a better fit for introverts.
For example, “An introvert may thrive as a CPA, crunching numbers with precision and in-flow, formulaic repetition; a market research analyst who gets to pore over detailed qualitative or quantitative data; or a professor who has gotten to create materials about a specific subject matter to then share with purpose and passion with pupils,” Thoma says. The best jobs for introverts, she says, “have structure and clear expectations with an opportunity for creativity, and allow for focus.”
So introverts should look for jobs where some amount of solo work is built in—allowing them regular opportunities to focus on their own work—rather than roles that require constant engagement with coworkers, clients, or customers.
But pretty much every job requires at least some level of interaction, collaboration, and socializing. That’s not necessarily a bad thing, even if you consider yourself a more introverted person. Again, introverts can still enjoy working with other people and be successful doing it. It does mean, though, that you should also look for a company that prioritizes work-life balance and self-care—and allows you the opportunity to recharge when you need it.
“Self-care is an emerging priority for many companies who know that when employees are able to take walking breaks or lunch away from their computers,” Thoma says, or take care of themselves however they see fit, they “are more likely to thrive—and provide quality work to match. Since introverts may need more downtime outside of meeting rooms, this is an important consideration.”
Are you a proud introvert—and ready to find a job that plays to your strengths? Here are 10 roles to consider, plus salary information from the compensation resource PayScale (just keep in mind that PayScale’s database is updated nightly; the figures below reflect the latest information as of March 2021):
Average salary: $86,803
Software engineers are responsible for engineering or developing different types of software (which is why they’re also called software developers). They are problem solvers at heart; they need to identify what problem the user is having—and then design, test, and develop software that solves that problem.
A career as a software engineer could be a great fit for an introvert because a large chunk of the job is writing code, testing, and fixing bugs—all of which involve independent work—though they should also be prepared to collaborate with their teams.
While some companies require a specific degree, many rely on technical interviews to assess candidate coding skills—so if you’ve got the coding chops, you can get your foot in the door as a software engineer.
Find software engineer and software developer jobs on The Muse
Content Marketing Manager
Average salary: $68,395
Content marketing managers are responsible for the development and execution of a marketing team’s content strategies. Depending on the company, a content marketing manager may oversee one or multiple content verticals, including print, digital, video, social media, and audio.
Content marketing managers may work with a variety of other people, including content strategists, writers, and creators; marketing colleagues; and folks on sales and other teams. Ultimately, their goal is to understand their target audience and drive awareness and engagement with their brands, products, and services. Depending on the size of the company, content marketing managers may also manage other people. But this role could still be a great fit for an introvert because it’s usually pretty evenly split between independent and collaborative work—giving introverts plenty of time to recharge.
While some companies require their content marketing managers to have a degree, many are more interested in candidates with a background in content development and promotion—so if you’re well-versed in all things content, you should be able to get your foot in the door.
Find content marketing manager and other content marketing jobs on The Muse
Average salary: $53,313
Editors are responsible for taking a piece of writing from the “just an idea” phase to the “working draft” phase to the “ready for publication” phase. This includes making suggestions to writers on ways the writing could be improved (for example, pointing out sections that are unclear or helping the writer define their voice and tone) as well as correcting any spelling or grammatical errors. While editors may work for newspapers, magazines, digital media companies, or book publishers, they may also be employed by businesses to support their content efforts—editing blog posts, ebooks, website copy, and more.
Editors do partner with writers (and often have to walk them through their edits) and other content or editorial team members to brainstorm and strategize—but the bulk of the actual editing process is a solitary activity, making it an ideal fit for introverts.
In order to succeed as an editor, you need to know the ins and outs of writing, including grammar, structure, style, and narrative. As such, many editors are writers themselves—and most have a degree in journalism, English, communications, or a related field. Editors who work for newspapers, magazines, and digital publications also need a solid grasp of reporting and fact-checking.
Average salary: $46,010
Graphic designers are responsible for developing visual assets for a company. Depending on the company’s needs, this may include branding assets (like logos), marketing materials, product packaging, and digital assets. Many graphic designers are well-versed in a variety of design styles and techniques, though some specialize in certain areas (like logo design, packaging design, or infographic design). Graphic designers may work directly for a company, for an agency or design studio that works with clients to deliver on any design needs, or as freelancers or independent contractors.
While graphic designers will need to collaborate with supervisors, clients, or other stakeholders to get clear direction and feedback on their design assignments, during the designing phase, they’re free to work on their own—making this a great role for introverts.
In order to succeed as a graphic designer, you’ll need creativity and working knowledge of a variety of design programs—which many get through degree programs (though there are plenty of online learning platforms that can help you get up to speed if pursuing a degree isn’t the right fit).
Find graphic designer jobs on The Muse
Average salary: $51,639
Accountants handle financial tasks, which can include budgets, forecasts, financial reports, payroll, taxes, and audits. They may work for a company in house or for an accounting firm that provides accounting services to external clients.
A huge part of accounting is crunching numbers—a task that’s mostly done solo—making accounting a great field for introverts.
In order to land an accounting role, candidates will need to have a degree in accounting or a related field—and public accounting firms will typically only hire Certified Public Accountants (CPAs) or recent accounting graduates with plans to take their CPA exam.
Find accountant jobs on The Muse
Average salary: $71,538
Mechanical engineers are responsible for designing (or engineering), developing, building, and testing machines and other products. Mechanical engineering is, at the core, a problem-solving role; mechanical engineers need to not only be able to identify problems and build solutions, but also identify and solve mechanical issues as they build and iterate.
Mechanical engineers are highly technical critical thinkers and although they typically work in teams and need to be comfortable collaborating and managing projects, they also spend a lot of their time working independently—a great setup for an introvert.
To get hired as a mechanical engineer, you’ll need at least a bachelor’s degree in mechanical engineering—although many companies want their mechanical engineers to pursue advanced degrees.
Find mechanical engineer jobs on The Muse
Average salary: $57,872
Information technology specialists (a.k.a., IT Specialists) are responsible for maintaining and managing a company’s internal IT processes and products. This can include managing IT requests, troubleshooting IT issues, installing and upgrading company hardware and software, and ensuring that all IT operations are running smoothly.
As an IT specialist, you’ll have to work with leadership and employees to field requests, identify IT issues, and answer IT-related questions—but the job also requires plenty of independent work time to manage IT systems and fix problems, so introverts will get the time they need to recharge.
While some companies require their IT specialists to have a degree in information technology or a related field, many will hire based on skill alone—so if you have an in-depth knowledge of IT systems, you should be able to get your foot in the door without a degree.
Find IT specialist and other information technology jobs on The Muse
Average salary: $96,420
Data scientists are responsible for creating the frameworks that help their companies leverage data to make better business decisions. This can include everything from running data tests and experiments, implementing statistical models and algorithms, developing data products, and continually tweaking and optimizing their frameworks for more effective data analysis (and better business outcomes as a result).
While there is a certain level of collaboration necessary to succeed as a data scientist (for example, with data analysts or key business stakeholders as well as other data scientists or machine learning engineers), a good portion of a data scientist’s work is in framework development—a solo job great for an introvert.
A bachelor’s degree in computer science, math, statistics, engineering, or a related field is generally a must to pursue a career in data science—and some companies want their data scientists to hold advanced degrees.
Find data scientist and other data science jobs on The Muse
Average salary: $70,244
SEO (which stands for search engine optimization) managers are responsible for making sure that when someone searches a relevant term, their company ranks at the top (or as close to the top as possible) of the results pages. The goal is to help increase the company’s visibility and drive new users or customers to their website. SEO managers develop and implement the SEO strategy, determining which technical and content-based search engine optimization strategies are going to drive the best results—and then continually adjust that strategy to improve their rankings.
SEO managers do collaborate with colleagues on other teams—including content and engineering. But they also spend a good deal of their time analyzing data, developing suggestions, and implementing optimizations—making this an ideal role for an introvert.
There’s no specific degree required to get into SEO, but in order to land an SEO manager position, you need to know the ins and outs of search engine optimization—and be able to stay on top of SEO practices, which are always changing and evolving.
Find SEO manager and other SEO jobs on The Muse
Average salary: $96,032
Actuaries typically work in the insurance industry and are responsible for evaluating risk factors and determining whether the insurance company should issue a policy to a specific person or business and, if so, what the premium for that policy should be.
This role is almost entirely focused on digging deep into math, data, and statistics, which is an inherently independent task—and a great fit for introverts (at least, for introverts who geek out on all things numbers).
Actuaries need to have a deep working knowledge of data and statistics—and a degree in actuarial science or a related field (like statistics or math) is often a requirement to get your foot in the door. You’ll also need to complete a series of exams given by the Society of Actuaries or Casualty Actuarial Society to earn your certification.
Deanna deBara is a freelance writer living in Portland, OR. When she's not busy building her business or typing away at her keyboard, she enjoys spending time hiking in the Pacific Northwest, traveling with her soon-to-be husband, or doting on her dog, Bennett. You can follow her on Twitter (she's a newbie!) at @Deanna_deBara.
Feature | 12/01/2021
10 Easy Ways to Organize Your Job Search
BY ALISON DOYLE
Updated on November 09, 2021
In today's job market, it's not uncommon to submit applications for many positions. That involves lots of time, and it's a lot to keep track of. You don't want to squander those precious hours by missing important application deadlines, garbling companies and positions, confusing interview times, or forgetting to follow up.
Accordingly, properly organizing and managing your job search is just as important as identifying job opportunities and submitting your application.
Here are ten ways to get organized, keep track of your job applications, and stay on top of the job search process.
Create a Job Application Spreadsheet
If you're familiar with Microsoft Excel, Google Sheets, or a similar program, creating a spreadsheet is a simple and effective way to keep track of your job applications.
You can use a spreadsheet to keep track of which companies you applied to, when you submitted your application, what materials you submitted, and other important factors in the application process.
It doesn't have to be fancy, and it's up to you how detailed you want to get. But, here are the key columns to include:
- Company Name - The name of the organization you're applying to.
- Contact - Your point of contact at the company; probably who you addressed your cover letter to, such as a Director of Human Resources or Office Manager.
- Email - The email of your point of contact, or, if preferred, a phone number.
- Date Applied - When you submitted your application.
- Application Summary - What you submitted: a cover letter, resume, and any additional materials, like a portfolio or reference list.
- Interview - When your interview is scheduled.
- Follow-Up - Did you send a thank you email or letter? If so, indicate here.
- Status - If you were rejected, offered the job, asked in for a second interview, etc.
Create a Job Application Table in Word
If Excel isn't quite your cup of tea, don't fret. You can create a simple table in Microsoft Word, Google Docs, or a similar word processor.
Use your word processing program to create a table to keep track of important information, dates, and deadlines relevant to your job search.
Just insert a table and choose the number of columns based on how many categories you want to keep track of (company name, contact information, date applied, and so on) and the number of rows relative to how many positions you're applying for.
In addition to the basic categories listed above, if you're feeling especially ambitious, here are some other points you might want to include:
- Application deadline
- Potential start date
- Where you found the job listing
- Company information, like its location, number of employees, size, recent developments, etc.
- Names and contact information of any network connections at the company
- Estimated likelihood of getting the job
- Your relative preference for the position compared to other jobs
Use Google Drive and Calendar
If you like to stay organized online, Google is a great way to go. If you have a Gmail account, you can use Google Drive, through which you can create, save, and export spreadsheets, in addition to written documents, like your cover letter and resume. You can also link up with Google calendar to make sure you stay on top of important dates.
Set Up Job Alerts
Most job sites have job alert systems that notify you when there are new job openings that match your interests. Once you sign up, the system will send you job listings via email so you can check for job openings in your field without having to mine through every job search engine.
When you decide to apply for one of the job listings you receive, you’ll be able to use the information in the message as a starting point for keeping track of your application.
Use a Job Search Organizer Website
There are a variety of websites that offer free or reasonably priced job search management tools that are specifically designed for job hunters who need assistance in managing their applications.
For example, JibberJobber is perhaps the most well-known option and is an excellent resource for staying organized.
While Huntr provides a centralized place to organize your job search. It helps you keep track of opportunities, tasks, notes, events, and contacts relevant to your search. The chrome extension makes it easy to save jobs from any job search site in one click, and the mobile application allows you to track your search on the go.
Use Your Favorite Job Search Site
Do some digging in your favorite job search site - you'll probably find a built-in way to keep track of potential job interests and your submitted applications.
Many job search sites like Monster, CareerBuilder, and LinkedIn offer built-in tools to keep track of your applications. Although the downfall to using a site-specific method is that you may have to keep track of various lists on different sites, if you have a favorite job search site you're sticking to, it's not a bad option.
Use an App
If you spend more time on your phone or tablet than you do on your computer, consider using a mobile app to organize your job search. Download a mobile app (or two) to organize your job search on your smart phone or tablet.
Here's a list of some of the best job search management apps available for smartphones and tablets.
Use Your Smartphone
For a do-it-yourself method of organization, consider using your smartphone" as is" - for example, use your notes or download a spreadsheet app and keep track of your information there. You can also use alarms, alerts, and your calendar to stay on top of impending deadlines, interviews, and other important dates and times.
Use a Notebook
If you're a pen-in-hand type who likes to keep it old school, buy a notebook and dedicate it to your job search. Keeping track the old-fashioned way, still works well for many people.
Sometimes, technology can be cumbersome, so if you want a more tangible method of organizing your job search, use a notebook. In addition to keeping track of your applications, you can also use it to jot down a cover letter draft, take notes during interviews, and record anything else that comes up while you're looking for jobs, networking, and interviewing.
Simplify Your Search
Clearly, there are plenty of ways to keep track of your job search, but there are also ways to cut down on the mental overhead to begin with. Making an effort to simplify your job search will pay off.
Focus on quality, not quantity: only apply to legitimate positions that you're qualified for, and make each application count, personalizing each cover letter and updating and proofreading your resume.
Feature | 08/30/2021
ECO Blog: Conversations with the CIA and World Bank
Conversations with Employers: CIA and World Bank
While many of you have been attending employer information sessions and meeting up with alumni for informational interviews, I've had some great conversations with employers that want to hire our majors. At the bottom of this blog, I've included some questions I ask when meeting with employers to learn about their internship and full-time opportunities. I've been thinking about how to get the information that I gather to you, and then it struck me that I could reach you all right here on our blog. If we see some traffic to this blog page, I'll use this method again to convey notes to you.
Below I've included a few notes about both employers and how you may follow up for more information. These notes are specifically based on recruiting economics majors. The CIA is recruiting other majors for other positions, and I encourage you to check out their website for more technical and engineering opportunities.
1 - CIA - they are recruiting for financial analysts and political analysts. They do hire economic analysts but don't have an active posting right now. US citizenship is required. Second languages are useful but not required. There is great opportunity for promotion, advancement, and diversity of opportunity.
These jobs require a security clearance, which can take some time to receive so connecting with the recruiter about interest early is helpful. I can connect you directly with the UVA recruiter. Send me an email to get started.
As a Political Analyst at the CIA, you’ll support policymakers by producing and delivering written and oral assessments of the domestic politics, foreign policy, stability, and social issues of foreign governments and entities. Analysts examine actors’ goals and motivations, culture, values, history, society, decision-making processes, and ideologies in the context of how those elements affect U.S. interests and national security.
As a Finance Resource Officer Undergraduate Intern for the CIA, you will work with an accomplished and diverse team, providing a full range of financial support for mission requirements. Finance Resource Officers serve as one of the most trusted and financially accountable officers within the Agency and are responsible for the analysis and processing of financial transactions to ensure the financial integrity of the Agency’s funds. (taken from cia.gov)
Opportunities exist for foreign and domestic travel, language training, and analytic tradecraft and management training. You will have an opportunity to develop deep substantive expertise and participate in broadening assignments with other offices in the Agency and across the U.S. Government. (taken from cia.gov/careers)
The paid time off sounds very generous. Other perks are continuous training and career development along with federal retirement and insurance.
To speak with their recruiter now, please contact me and I'll connect you.
9/8 on Grounds at the Finance Careers Night
9/22 at Intelligence and Security Networking Night
2 - World Bank
I spoke with economist Collette Wheeler, who works on the biannual Global Economic Prospects report. The World Bank has Short Term Consultant (STC) opportunities for imminent/recent graduates, who are interested in macro-economics. Topics researched and reported on include: Macroeconomics and Economic Growth, International Trade and Economics, Financial Sector Development.
Taken from the January 2021 report: "The world economy is experiencing a very strong but uneven recovery, with many emerging market and developing economies facing obstacles to vaccination. The global outlook remains uncertain, with major risks around the path of the pandemic and the possibility of financial stress amid large debt loads. Policy makers face a difficult balancing act as they seek to nurture the recovery while safeguarding price stability and fiscal sustainability. A comprehensive set of policies will be required to promote a strong recovery that mitigates inequality and enhances environmental sustainability, ultimately putting economies on a path of green, resilient, and inclusive development. Prominently among the necessary policies are efforts to lower trade costs so that trade can once again become a robust engine of growth. This year marks the 30th anniversary of the Global Economic Prospects. The Global Economic Prospects is a World Bank Group Flagship Report that examines global economic developments and prospects, with a special focus on emerging market and developing economies."
STCs may work for 150 days of the year and contracts may be renewed in subsequent years. These STC roles often lead to full-time employment with the bank either in the analyst track or the economist track. As I understood, the economist track requires stronger writing skills. The work involves data scraping and cleaning information from more than 160 countries in order for the bank to write its biannual reports. STCs will gather data from databases such as Bloomberg and create visualizations of their data using Excel, Matlab, and STATA. Familiarity with any of these tools will be helpful in the recruitment process. Ms. Wheeler works on Chapters 1 and 2 of the report. The research covers more than 200 commodities. The majority of Research Assistants at the WB, began as STCs, which means the STC job opens the door for future career prospects.
The application involves submitting a cover letter and resume. Then you may be contacted for a screening call, an Excel test, and a behavioral interview. You may be asked macro-based questions in an interview and likely will be interviewed by multiple staff and scholars.
If these topics sound interesting to you, I encourage you to reach out to Collette Wheeler for an introductory call. Please contact me to connect with Ms. Wheeler.
Some Questions I Ask Employers
Often I conduct research before my employer meetings and may have answers to some of the questions below, in which case I either don't ask the question, or I confirm through the conversation.
- What industry is your organization in and who are its clients?
- Who are the competitors in this space?
- What internship and entry-level positions are available now/typically?
- What skills and knowledge are you seeking?
- What makes a competitive candidate? (similar to the question above)
- Are there other backgrounds you are seeking for your hiring needs?
- Talk about diversity initiatives you have in place for recruiting and inside the organization.
- Are there mentorship opportunities for new employees?
- What are the steps of the interview process?
- How many students are you hiring?
- At what other schools do you recruit and where do you see your best applicants and why? (Less important now with virtual recruiting)
- How have our majors compared in the past to other UVA students/students at other schools?
- What is the career trajectory?
- What do employees typically do when they leave/why do they leave?
- What is the compensation?
- Who are the UVA alumni you work with at the organization (if any)?
- How would you like to be involved with the department?
- What kind of skill-building programs do you have in place to potentially share with our students?
- How has Covid-19 affected your hiring/the work environment/on-boarding/start-dates?
Feature | 09/11/2018
Welcome to Our New Graduate Students
The UVA Department of Economics is delighted to welcome its incoming class of graduate students. The cohort of 20 students is equally divided with regards to gender. Fifteen of the 22 are international students, 9 of whom earned degrees at other universities in the U.S. Each student in the cohort has at least one previous degree in economics, if not two, and several had a second undergraduate major in math or statistics. They bring with them a wide range of real world experience: one student is completing a position as a Fulbright Scholar at the Free Market Foundation of South Africa; several have completed internships with places such as the Korea Economic Research Institute, the Harvard Kennedy School of Government, and the Yale School of Management; and others have held professional positions--as economists, research assistants, or analysts--at organizations such as the Bank of Korea, the University of Wisconsin Hospital Emergency Medicine Research Group, the DC Federal Reserve Board, and the NERA Economic Consulting firm.
Feature | 01/31/2022
ECO Blog: Virtual Spring Job and Internship Fair Preparation
Hello Econ Majors,
The 2022 Virtual Spring Job and Internship Fair will be held this Thursday all day. There are 50 more employers participating this year than in the spring 2021 virtual fair. Of course as economists you know that means there is likely a stronger labor market, at least in certain industries and for entry-level employees and interns.
Please take some time between now and Thursday to visit the list of employers in Hanshake. You may filter by:
- Major (although I encourage you to broaden your keyword search to include majors such as business and politics because employers may not be aware that economics is housed within the College.
- OPT/CPT and visa sponsorship
- Remote work
Check out the ECO's First Destination Report from past years to find employers who have definitively hired our students and cross-reference with the registration list.
Then check out these video links to help you prepare for the fair. Here is a template to write your pitch to help you prepare for info sessions or 1:1 chats at the fair. Sign up for both! And if your employers-of-choice are booked for 1:1 slots, choose your second-tier. You may be surprised at what you find and who you meet.
Feature | 11/01/2018
CAILIN SLATTERY PRESENTS JMP AT UEA MEETING
Cailin Slattery presented her job market paper "Bidding for Firms: Subsidy Competition in the U.S." at the Urban Economics Association Meeting at Columbia University in New York City. She received valuable feedback on her paper and discussed her research with Urban Economists from all over the world. She also had the opportunity to attend talks by Ed Glaeser, Raj Chetty, and recent Nobel Laureate Paul Romer.
In her job market paper, Cailin studies how U.S. states use discretionary tax breaks and subsidies to compete for individual firms to locate and create jobs in their jurisdictions. This policy has been well publicized with the recent competition for Amazon's second headquarters, but it is not an Amazon-specific phenomenon --- states spend billions of dollars each year on discretionary subsidies to attract a handful of large firms. However, it is still debated whether subsidy competition is a zero-sum game which only serves to transfer rent from states to firms at no national welfare gain, or if subsidies actually cause firms to locate where they create more value for a state.
In order to address this debate empirically, Cailin hand-collected a new data set on state level incentive spending and firm-level subsidy deals. She then uses the data to estimate a model of subsidy competition, where states bid for individual firms in an oral ascending auction. This allows her to answer two open questions about subsidy competition: how do states value a given firm, and how important are subsidies to a firms' location decision? Her estimates provide the first empirical evidence that states use subsidies to help large firms internalize the positive externalities they have in a state. Specifically, she find that states value not only the direct jobs the firm promises to create when determining their subsidy offer, but also the indirect jobs they are expected to create through agglomeration.
Next, she uses the model to estimate the effects of a counterfactual subsidy ban, and evaluate the welfare implications of subsidy competition. Her counterfactual results confirm that subsidy competition is not a zero-sum game. In fact, competition increases total welfare (the joint payoffs of states and firms) by 20% over the subsidy ban. However, the entirety of this welfare gain is captured by the firms. Although individual states are better off, the aggregate welfare of states decreases relative to the subsidy ban. In short, the states, as a whole, are worse off with competition, because they have competed away much of the value a firm creates in their location.
Feature | 12/01/2021
Daniel Harper Presents at 2021 ESA Conference
Daniel Harper, a fifth year graduate student, presented two of his papers at the Economics Science Association's 2021 North American Meeting in Tucson, AZ. The first paper, “The efficient market hypothesis in experimental asset markets: Private information, public information, and bubbles,” co-authored with Charles Holt and Margaret Isaacson (UVA Econ BA 2021), finds that markets do not fully disseminate private information over the returns to durable goods. However, increasing the proportion of traders with private information over these returns reduces overpricing. Daniel also presented early results from a working paper, co-authored with Charles Holt., titled “Behavioral influences on investment and production in asset markets: An experimental study,” which develops an experimental asset market where traders endogenously produce and trade durable assets and investigates how liquid cash, market prices, and beliefs over future prices affect decisions to produce assets. Vernon Smith (Economics Nobel Laureate 2002) attended this presentation.
Feature | 09/12/2022
Network, Network, Network!
Network, Network, Network!
By: Rebecca King-Newman
This article was taken from Firsthand
You know the old saying it’s not what you know, it’s who you know? One of the many things your law school does for you is set up networking events to allow students to interact with active lawyers. So, why should you network when you have already been in class all day and you have three papers to write? You should go because you want those attorneys to know you.
Your school sets up formal or informal events to connect the community and alumni with current students. They know that these events help create opportunity for both the attorney and the student. You may think it’s just another stuffy event to make the school look good, but it’s the perfect way to make in-person connections you wouldn’t otherwise make.
These events are also great practice for those on-campus interviews. Since they are usually informal, even if a suit and tie are required, they are not rigorous interviews that you need days to prepare for. Rather, they are a chance to meet people already practicing. Maybe there will be someone attending that is in the specialized field you think you want to target. Maybe there is someone present that works for that firm you covet a position with. No matter what, there will be someone at the event that will make attending worthwhile.
Another simple way to network is to join a student organization or two in law school. Most organizations will have a faculty advisor you can get to know outside of the classroom. Your fellow classmates can also surprise you. You will meet a diverse group of people, likely from all different parts of the country and world, who you may not normally socialize with. Those classmates can open doors to other interests and people that you might not have thought about. And that professor you feared and/or dreaded being in class with? He may be really funny or down to earth outside the classroom, and you can connect in a different way.
Speaking of professors and faculty, don’t overlook getting to know them, too! Many schools have professors with a wide swath of knowledge outside their current position. Most law school professors did not jump right into teaching. They had careers in the law before coming to teach, which means they have friends and associates from that practice life that can be beneficial to your future career. Hit up their office hours or invite them to lunch. Professors got into teaching because they want to help students, and this is your opportunity to reach out on a one-on-one level and get their help. You may find that one professor is more helpful than another, but give it a try and see who you connect with and who provides you with guidance.
Don’t forget to look at more fun, informal events. Many law schools will host casual meetups at local bars and restaurants, or golf outings with alumni and friends. Even though you have not graduated yet, these events are another opportunity to mingle with those already in the workforce. You may realize a person you admired is very approachable when they are in a restaurant as opposed to the corporate office. Seeing people you may be working for and with outside of the office is a good way to read how you interact with them—and how they interact with you and other students.
Don’t stop at events only put on by the law school. There are other non-traditional events and outside school events that can benefit your future career. Most law schools are attached to an undergrad university or college. Go to Homecoming events and start talking! You’ll be amazed who you meet and what industry they are in. And if a person is loyal enough to the school to come back for Homecoming—they’re loyal to fellow students and alumni. That can bode well for future career connections.
Go Off Campus
Many local and state bar associations also welcome law students to come to their meetings and events. This is especially useful when you want to practice in the same location as your law school. Attorneys love to promote themselves and their work, so start up a conversation with someone at a bar event, and you will likely come away knowing a lot about that person, the practice and the firm.
Think about attending continuing legal education (CLE) events. You don’t need to start racking up CLE credit yet, but many events will allow law students to attend for little or no cost. CLE sessions will teach you more about the real practice of law in the area you may have an interest in. Let’s face it, law school teaches you the mechanics of law, but at a CLE, you are learning about real life issues that come out of the actual practice. Usually they include case law updates, which are invaluable in your practice area. These events also address common issues in the area of law and how local attorneys are addressing them. Again, there is always someone to meet and learn about by attending.
Social media is also an important way to network. Many schools have alumni pages and groups on Facebook where events are posted, and questions are asked. Twitter and Facebook often are informal and are a good way to learn about people and their careers. LinkedIn is also a way to connect in a more professional setting. LinkedIn also is a valuable tool to read company profiles, find out who works at a firm from your school, and see the job opportunities that are available. Make sure your social media presence is fit for the job, too. Check your settings on who can view your profiles, and clean up any older, less flattering posts. Many firms have people who will look at your online social media presence to make sure there are no red flags. Law school is a transitional phase of your life, where you are trying to form your future legal career. Remember the old lawyer joke that you should post like someone will read it later in court!
Making connections doesn’t have to be restricted to law-related events and organizations. If you like a certain charity or organization, volunteer and get involved. If politics is your thing, join the local party organization and attend their events and lunches. Recreational groups are also an excellent way to get out and meet people. Running clubs, biking groups, and cooking classes are all ways to meet people in the community and enlarge your circle. While it may not be traditional networking, from a law student perspective, you may be surprised at how adept you become at meeting new people and striking up conversations naturally, which will pay off for that more formal networking event or interview.
Know Before You Go
So now that you have decided to check out some of these events, despite your busy school schedule, what things do you need to do to prepare? First of all, know the audience. Is this an event put on by the school? If so, see if you can find out who may be in attendance. Do some homework on those attorneys and organizations before you go, but not with the aim of turning this into a full-fledged interview. Rather, you want to at least know a little about the person and firm before striking up a conversation.
Another thing to find out is if the event is formal or informal. Is a suit going to be required, or is business casual more appropriate? If it is an informal event, make sure you wear something appropriate and not your favorite sweatpants. Will there be food and drink provided? If so, make sure to curtail your drinking so you are presenting yourself in a responsible manner.
Don’t forget to brush up and practice your elevator speech. It may seem silly to practice out loud, but reciting the speech in your voice—and even to yourself into a mirror—helps you hone the message and make sure you come off as genuine. Make the speech how you normally would speak, and not like you were writing it out for submission. This is your chance to make an impression on someone who will be back to school for that on-campus interview, or someone who makes important hiring decisions at a firm.
Keep an open mind when you attend these events. You may go into it thinking you really want to meet a certain partner because she works at the firm where you want to work. After meeting this partner, you may realize she is not a fit with what you initially thought about the firm. Then you may turn around and meet someone else at the event you did not think you would want to meet, and find out that firm or that person does exactly what you want to do. Law school is as much about finding out what you like as what you do not like. If you go into the event with an open mind, you may surprise yourself on what you discover. Don’t forget to ask for a business card or contact information.
Networking can be fun and the most interesting part of law school. It can teach you a lot about people, firms, and yourself. If you make it a priority to network almost as much as you study, the rewards will be tenfold. It will help you be prepared for that on-campus interview. It will open your world to people and places you want to work, and maybe some that you want to avoid. Networking will round out that law school experience and get you outside the classroom. So, get that elevator speech ready, wear your best attire for the event, and have fun!
Feature | 08/06/2021
Blog: 8.9.2021 The Power of Weak Ties
Networking, building relationships! This blog is about this daunting, exciting, intimidating, and rewarding process of building connections.
I recently connected with 1990 econ alum Brian Ramsay, President of private equity firm, Littlejohn & Co. I met Brian through Professor Elzinga. Brian had written to Professor Elzinga because he had been interviewed on a podcast (link below) where he discussed the power of weak ties, something those of you who took Econ 2010 with Professor Elzinga may remember from lectures. Through this email, Professor Elzinga connected Brian and me at the ECO and now I'm sharing Brian's remarks about networking with you. And, it is my hope that in the coming year, Brian will spend time with our majors in the department in-person or virtually. This story demonstrates perfectly the power of networking and building relationships. (During the podcast, you'll also learn about private equity from Brian and the importance of financial analysis skills and . To reach Brian's networking remarks, skip to the 10:00 minute mark.) So much of the work that the ECO undertakes is to set the table for you to join the conversation with our economics alumni and employers. And while we all have independent networks, which are forged from the building blocks of our own families, friends, and experiences outside of UVA, our goal in the ECO is to share the cultural wealth of our UVA community. We will talk much more about this together in ECO programs and individual advising, but for now, take a listen to Brian Ramsay's interview with "Top of the Pile."
Then, take action and reach out to one professional to practice your informational interviewing. This could be a relative, family friend, friend's family member, your family physician...you get the picture. Use these links to draft your email/phone call script to secure the meeting and then this link to prepare for the call. Send me a message to let me know how it goes! We will include your comments in an upcoming newsletter.
And, please believe me that asking for help now from alumni and other professionals is completely appropriate and expected. The day will come when you will pay it forward by helping upcoming majors who will be in the shoes you once filled.
Feature | 09/12/2018
Devaki Ghose, Invited to International Econ Program at Dartmouth
In 2017, the Department of Economics at Dartmouth College began a Visiting Ph.D. Program in International Economics. According to the program website “The program will provide funding to current Ph.D. students with high potential who have completed their coursework to visit Dartmouth College. There are no teaching or RA obligations associated with the position: visiting students are simply expected to be active members of the vibrant Dartmouth international economics community. “ Students from universities around the world apply and, each academic term, one is admitted to the program. Devaki was selected during the 2018 winter term and describe it as “one of the most rewarding experiences I had in recent years. My supervisor at Dartmouth, Treb Allen, not only provided invaluable academic input, but also encouraged me to dream bigger and push my ideas further. The vibrant academic community there, comprised of established professors and enterprising post-doctoral students, provided me with constructive criticism and fresh ideas that infused my project with new energy. I think what makes Dartmouth a very special place is that it is a top school with no graduate program in economics. Being the only graduate student for the term, all the professors had lots of time to talk about my research and interact with me. I will recommend every student in international economics to consider applying for this program in future.”
Feature | 12/10/2015
45,000 Students and Professor Elzinga
"It’s likely that Ken Elzinga has impacted more students than any professor in University of Virginia history.
By the spring of 2015, the Robert C. Taylor Professor of Economics had taught nearly 45,000 students. That’s more than the population of Charlottesville, and more than any professor on record at U.Va., according to George Stovall, director of the Office of Institutional Assessment and Studies.
Those numbers stem from more than four decades of teaching one of U.Va.’s largest and most popular courses. The supply of seats in one of Elzinga’s two 500-person “Introduction to Microeconomics” classes never quite seems to meet demand. As for his smaller, 20-person anti-trust seminar, taught in the spring semester, students are advised to request entrance into the class two years ahead of time.
During his 47-year run at the University, Elzinga has become nationally renowned for both his illustrative teaching and his work in the field of economics, and famous for his personal commitments to each of his students outside the classroom." (Lauren Jones & Mitchell Powers). See the full story here.
To see the video click here.
Feature | 11/28/2016
In Memoriam: Robert Dewitt Tollison (1942-2016)
Robert Tollison, who received his PhD from UVa in 1969, died on October 24, 2016. Bob was a student of Jim Buchanan, taught at Cornell, then was on the faculty for many years at George Mason, and ended his career at Clemson. Bob's a former president of the Southern Economic Association and the Public Choice Society and may well have the longest publication list of any Ph.D. from our department.
See his obituary here: http://newsstand.clemson.edu/in-memoriam-robert-dewitt-tollison/
Feature | 06/07/2018
How to Answer "What Sets You Apart from the Rest"
An extremely common interview question these days is some form of "What sets you apart from the rest of the candidates for this job?" Other incarnations of this question include "Why should we hire you?" and "What makes you so different from all the other people interviewing for this position?" No matter exactly how this question is worded, it's getting at the same thing: what are your greatest strengths and skills, what might make you unique, and how those strengths and skills and uniqueness will translate into success in the position you're interviewing for.
Feature | 10/26/2021
ECO Blog: Virtual Job Fair Preparation
There are two virtual job fairs this week, which I recommend for our majors:
Marketing, Advertising, and PR Job Fair, Tuesday, 10/26
Fall Job and Internship Fair, Thursday, 10/28
Employers will hold info sessions with groups, and 1:1 meetings with individual students. Schedule at least an hour in your day to attend if you are internship or job-seeking. And if you're curious, but not ready to job search, the info sessions provide a great opportunity to hang back and listen. Please check out the links below about approaching the fair. If you are in a full-on job search, I recommend choosing 3-5 employers that are your "must-sees" and schedule around those sessions.
- Make sure your lighting is good and your mic works in case you choose to speak.
- If possible, appear in a neat room, or use a virtual background.
- Dress neatly. This does not mean you need to be in professional business attire or even business casual. Neat and tidy are important.
- Prepare your pitch using VMOCK (AI platform that records your pitch and scores you) and/or this ECO template and these tips.
- Have your resume handy to borrow talking points and possibly share with employers.
- Research the employers that are the most interesting to you and come with questions. You'll find some at the links belowl You may always ask about next steps if you're interested in applying for opportunities.
- Be yourself (really!).
- Send a thank you after the info session or 1:1 session.
Vault's Recommendations for Attending a Virtual Career Fair
Participating in a Virtual Fair - from Handshake
Handshake's Guide to Virtual Fair Attendance
Good Questions to Ask Employers
Feature | 10/11/2016
ECON Alum: Yingqi Liu, Class of '16
1. Why did you choose to study economics?
Coming into UVa, I knew that I wanted to major in something that is theory-based and can give me solid quantitative trainings. Economics major offers me these, and I can also apply theories that I have learned in class to explain phenomenon in my daily life.
2. What courses/professors have been the most influential and why?
I enjoyed taking many classes, including Industrial Organization with Professor Mills and Econometrics with Professor Michener. If I had to pick, perhaps Antitrust Policy with Professor Elzinga would be one of the most influential courses. In class, we examined the progression of court rulings of interesting antitrust issues over time, some of which took place during the timeframe of the class. I got a much better understanding of economic consulting, and applied for my current job.
3. Over the summer you worked as an intern. In your own words, what did you do in this role? How was it related to your major/how did you use what you've learned in the department to secure this role and on the job?
I interned at a wealth management firm over the summer. It was mainly a client-facing role with access to the most up-to-date market research data. I got to work with a wonderful team and learned more about the financial industry. The analytical training in the Econ Department prepared me well for this role.
4. What career goals do you have for your future? (immediate/long-term)
I will work for Cornerstone Research after graduation. After a few years, I plan to attend graduate school (MBA or JD).
5. If the ECO has helped in your experience at U.Va., kindly share how/why.
The ECO has been an extremely valuable resource in every stage of my career exploration. By attending numerous career panels, I got to see a wide variety of industries and met many distinguished Econ alumni. I also enjoyed speaking with Jen, who always provided me with constructive feedback and steered me toward the right direction.
6. What is a fun fact about you?
I graduated from a high school in Green Bay, Wisconsin. I did go to Packers games and I do own a Packers jersey, but I have never worn a cheese hat.
Feature | 08/24/2021
ECO Articles: What Oracle's Hiring Can Teach You
How Oracle plans to recruit for its East Bank campus, the No. 1 trait that makes someone an attractive hire
By Adam Sichko – Senior Reporter, Nashville Business Journal
Aug 19, 2021, 1:53pm EDT
Steve Miranda wants to hire smart people to work with him at Oracle Corp.
Obvious, right? But Miranda's explanation of what he means by that is one of several insights into how Oracle will aim to staff its $1.2 billion waterfront tech campus coming to Nashville, which could have 8,500 jobs or more within a decade.
Miranda, speaking downtown at the annual meeting of the Greater Nashville Technology Council, opened a window into Oracle's recruiting strategy while revealing that software coding skills aren't necessarily his most-desired characteristic of a successful hire or employee.
"There's this perception of, 'We need to learn about databases and learn about Java and things that Oracle traditionally uses.' Not from my perspective, actually. I just want smart people, because at the rate of change that we see in technology … a given skill set, in our world, doesn’t last very long," said Miranda, executive vice president of Oracle Applications product development and a direct report to co-founder Larry Ellison.
"You can teach them something right now, some programming language, and in three years or four years — in a short period of time — it's probably going to be obsolete," Miranda said. "We’re looking for more people who are quick to adapt … willing to learn new things and willing to adapt and willing to change quickly."
When asked about his advice for people looking to make a career change and get into technology, Miranda replied: "I wouldn't feel that intimidated. You've got to know that for everybody in the industry, most of the things we're working on are kind of new — so you're not that far off."
Recruiting, early and often
The area's college campuses will be fertile ground for Oracle's recruiters. Miranda said the company already is pursuing partnerships with Tennessee State University and Vanderbilt University, among others.
Oracle won't wait until students are upperclassmen. Oracle prefers to offer summer internships following a student's freshman year or their sophomore year. At the end of that first summer, Oracle likes to offer for an internship in the following summer on the spot.
"As they come into their senior year, if they like us and we like them, we're issuing full-time job offers for the subsequent year, before they graduate," Miranda said. "The reason we're doing that is, again, there's this battle for talent. It's a good way for us to find talent early."
The jobs available at Oracle's Nashville campus will represent the spread of opportunities within the company, Miranda said, from software developers and sales to human resources and finance. Internally, employees are able to shift from consulting to development to sales.
The pandemic-induced shift to remote work likely will enhance the variety of jobs available in Nashville.
"Now, there are no limits to what job can be done in what area, and I think the last 18 months have shown us all that," Miranda said. "The opportunities are broad. … Oracle's a big place."
Oracle also will be importing people to Nashville to take some of its jobs, whether they're new recruits or existing employees wanting to transfer. Miranda said he's seen entire teams decide to move to Oracle's Austin campus, now designated as its corporate headquarters, for work-life balance or because it puts them closer to family.
"We've already gotten demand from existing staff: 'When is the [Nashville] building going to open and when can we move?' " he said.
Feature | 01/09/2022
The ‘Great Resignation,’ Employee Leverage and Company Response
*This article offers great insight into today's hiring climate. Keep these tips in mind with your own job search.
“People have reassessed priorities – whether it’s more flexibility with their schedules or relocating to be closer to family – and are seeking jobs better aligned with those priorities,” UVA’s Jennifer Coleman said.
November 12, 2021 Catherine Burton, firstname.lastname@example.org
The disruptions caused by the COVID-19 pandemic have led to an unprecedented reckoning by the American workforce that some have dubbed the “Great Resignation.” Workers have been not only leaving their jobs en masse, but also reconsidering what they are looking for in their careers.
As executive director of the University of Virginia’s Armstrong Center for Alumni Career Services at the Darden School of Business, Jennifer Coleman has been coaching MBAs on how to best achieve their career goals for more than a decade. But she has never seen a moment like this one.
In the center’s one-on-one coaching sessions, Coleman and her colleagues have helped alumni navigate this brave new world of confusion and opportunity. UVA Today spoke to her about the insights she’s gleaned.
Q. What do you see as the biggest factors going into this trend of the “Great Resignation?”
A. What has happened over the past 18 months is that people have reassessed priorities – whether it’s more flexibility with their schedules or relocating to be closer to family – and are seeking jobs better aligned with those priorities. With my coaching team, we’ve always tried to dispel the myth that it’s a zero-sum [equation] between work and life. What we’re seeing people do now is look for ways to make everything work more in concert – including recreation, relationships, health and work.
Q. How are companies responding to this trend when it comes to hiring and retaining the best talent?
A. Companies are being compelled to rethink what culture means and how important being physically present is to an organization. They are having to be far more flexible, not just on physically where employees are sitting, but also on how employees are structuring their days. Are they working 9-to-5 days? Or is it more fluid, a situation in which they work for a few hours in the morning, then pick up and care for their kids, and then work again from 9 p.m. onward? It’s all about options and choice and empowerment. It’s not about being completely in the office, or completely remote – because working at home is not for everybody – but it’s about giving people flexibility.
Q. How can employees leverage this moment to negotiate the best deal for a new job?
A. For people who are negotiating new positions, relocation isn’t always necessary. I’ve been coaching for about 13 years, and this is the first time I would advise people that if there’s a company halfway across the country that you’re really interested in, by all means pursue it, because you might not have to move.
Moreover, in a hot job market, talent’s always going to be incrementally more expensive, so as candidates think about their value, whether it’s cash compensation or other benefits, they’ll be in more powerful negotiating positions. They can use that as they negotiate the details about remote work environments. Is the company going to pay for your travel to headquarters when it’s required? What are they doing to support your home office environment in terms of equipment?
Q. When do you have the conversation about flexibility and scheduling – during the interview process, or after you’ve already been offered the job, or after you’ve started work?
A. During the interview process, you can get a sense of the culture and ask questions of employees, but I wouldn’t get into the weeds. You don’t want anything to distract the employer from your core value, and the fact that you have kids who need to be picked up at 4 o’clock, for example, is not part of who you are as a candidate. In general, I’d push that stuff off until you are the preferred candidate – ideally until after you have the offer.
It is worth making sure you are aligned on all of that before you start the job, however. I’ve seen people accept jobs in which these kinds of things are not discussed, and they can become problems quickly.
Q. What advice do you have for people who have had a so-called “COVID epiphany” and are considering a larger career change?
A. A big piece is finding a way to dip your toes into the proverbial waters of what you think you are interested in – whether that means you volunteer or take some classes or do something extracurricular that will allow you to talk and network with people. Anything you can do to expose yourself in a meaningful way will help you to really understand what you’re getting yourself into before you quit your job. It also gives you some credentials you can speak to in the interview process.
Q. How much of what we are seeing now in employment is a permanent change in the way people work, versus a temporary disruption?
A. There is definitely a shift here that is permanent. We’ve got a rising workforce of Gen Z that is already completely rethinking their relationship with work, even as this seems like a major mindset shift for older workers. Now that we’ve proven that flexibility and remote work are possible – and developed the technology to support it – I don’t see how we go back to square one. Pieces of this will last for sure.
Feature | 05/12/2020
Moogdho Mahzab Selected for 7th Lindau Meeting on Economic Sciences
PhD candidate Moogdho Mahzab was one of 373 young economists from around the world invited to attend the 7th Lindau Meeting on Economic Sciences. The event, which will be postponed until August 2021, due to Covid-19, honors the memory of Alfred Nobel by bringing together young economists and Laureates of the Sveriges Riksbank Prize in Economic Sciences. The invitation is quite an honor. Congratulations, Moogdho!
Feature | 08/12/2016
Delivering the Best First Impression in 30 seconds
Useful tips for making the best first impression in the business world.
Feature | 01/12/2021
FOUNDERS OF GRIT COFFEE ARE THEMSELVES A STRONG AND UNIQUE BLEND
Feature | 10/31/2018
Alumni Spotlight: Emily Steinhilber
University of Virginia, Department of Economics
Alumni Spotlight: Emily Steinhilber, Research Associate Professor at Old Dominion University
Life at UVA and since graduating:
Emily graduated from the University of Virginia in 2007 with degrees in Economics and History. After UVA, Emily received her doctorate in Law and Masters in Environmental Law and Policy at the Vermont Law School, where she graduated magna cum laude. She has worked in legal clinics and in environmental policy for over a decade.
She now works at Old Dominion University as a Research Assistant Professor. She coordinates the Commonwealth Center for Recurrent Flooding Resilience and works with faculty members to ensure their work is useful for policy makers and the public. She works with entrepreneurs and innovators to support new ideas for adapting to flooding.
In your own words, what is sustainability?
Effectively using resources to ensure a better result.
Emily’s advice for students:
- Read up on as much literature as you can on the topics that interest you professionally and personally
- Don’t write anything important on your phone–take pride in your written work
- Do your research effectively and thoroughly–click on references in papers
- Ask people to have coffee!
Feature | 09/29/2016
Top 10 Jobs for Economics Majors
Read about 10 jobs that match up with many of the skills Economics majors are equipped with: https://www.thebalance.com/top-jobs-for-economics-majors-2059650
Note, although this article includes a Top Ten List, the ECO does not claim that these are the "Top Ten" jobs for majors. This list is meant to be one resource in your search and provide food for thought.
Feature | 06/10/2015
Immigrant Job Creation
"Politicians on both sides of the aisle have raised concerns about immigrants taking American jobs, but one University of Virginia economist makes a compelling case for the opposite effect.
Dubbing immigrants “a shot in the arm” for local economies, economics professor John McLaren found that immigrant workers actually create new local jobs, many of them subsequently filled by American-born employees.
The National Bureau of Economic Research recently circulated the study, which was conducted by McLaren and Gihoon Hong, who earned his Ph.D. in economics from U.Va. in 2010. McLaren and Hong find that each new immigrant generates 1.2 local jobs." (Caroline Newman)
See the full article here.
Feature | 08/30/2016
ARTICLE - Choosing a Career Path: A Collegiate Perspective
This is a guest piece by Elizabeth Santoro, a senior at Northwestern University’s Medill School of Journalism, who will begin her career at a technology company upon graduation.
In my experience, college leaves you with more questions than answers. Entering college you may or may not know what career you want or what direction to take. Either way, college seems to be anything but linear, — it’s more a series of switchbacks and loops.
I thought I would work for some Condé Nast beauty magazine among New York City’s skyscrapers or, on the flip side, dig deep as an investigative reporter. Graduating from the Medill School of Journalism at Northwestern University, I’m on a different spectrum entirely and accepted an offer to work in product marketing for a tech startup.
Click here to read the rest of the article.
Feature | 11/02/2021
ECO Blog: Leadership and Rotational Programs - What They Are and Why You Should Consider Them
For our students who have a general interest in business, but are less focused on the industry or a particular job function, these programs may be for you. They are typically private sector programs, span industry and sometimes even extend into the think tank space or public sector, such as the Council on Foreign Relations' Young Professional Program or the US Government's Pathways Program. Most though, exist in the private sector and are used to recruit young, talented recent graduates into a firm's management pipeline. Employees typically spend a short period of time (3-6 months) in a division of the firm, such as marketing, operations, finance, or talent management, and rotate through several. Often employees are assigned a mentor and attend cohort-training with other peers in the program. Toward the end of the full rotation period, employees along with their managers, select a permanent placement.
Below, I've included a few links to pique your interest. I've also included a link to a full list of programs. For some links, you may need to do a little more digging to find the correct link because websites continue to evolve throughout each academic year. For example, Mastercard's link has expired, but I was able to search their website for jobs that are considered part of their leadership program. Some firms also host summer rotation programs, such as the NFL.
Another tip, in any job search engine/job board, search by the keywords "management rotation" or "leadership rotation" to source these programs. Check out my search results on indeed by plugging in "junior rotational analyst." (If you're reading this blog in May, rather than in November, likely the yield will not be as high.) Of course this strategy is not the Holy Grail of the job search, but one more tool for your toolkit. The ECO recommends a full complement of resources including TWP (Talking with People - networking) to learn more about any job you find interesting and to broaden your search if you are getting stuck.
Below are selected Leadership Rotation Programs recruiting now:
- Council on Foreign Relations - https://www.ypfp.org/
- GE Financial Management Development Program - Healthcare Track https://jobs.gecareers.com/healthcare/global/en/fmdp
- GEICO Management Development Program - https://careers.geico.com/us/en/c/leadership-jobs
- Texas Instruments Rotation Program - https://careers.ti.com/students/ (scroll down when you reach the page)
- Unilever - Future Leaders Programme - https://www.unilever.com/careers/early-hires/
- Vanguard - https://www.vanguardjobs.com/students-and-recent-graduates/
- Visa - https://usa.visa.com/careers/university-recruiting.html#Rotational_progr...
Check out more programs here: https://www.careereducation.columbia.edu/resources/leadership-development-rotational-programs
Although the list of employers at the link above are categorized by industry, jobs across function exist with each firm. This means that you could work for a tech firm, but hold a finance position; or, you could work for a finance firm and hold a tech position. Please make an appointment with me to discuss your internship or job search in more detail.
Feature | 07/02/2017
ARTICLE- 15 WORDS YOU SHOULD NEVER USE IN A JOB INTERVIEW
"Receiving an invitation for a job interview can be an exciting time – especially after you’ve been job-searching for a while.
Unfortunately, it’s all too easy to kill off all your chances of getting a job by saying just a few wrong words during your job interview.
To make sure your job interview leads to the next round or a job offer, here’s a list of words which you should aim to avoid."-Steven McConnell
Click here to read the rest of the article
Feature | 11/27/2018
Megan Miller Presents at 111th Annual National Tax Association Conference in New Orleans
Megan Miller presented her paper “Labor supply responses to in-kind transfers: The case of Medicaid” at the 111th Annual National Tax Association Conference in New Orleans, Louisiana. Research presented at the conference covered topics including tax and expenditure policies, public finance, and government budgeting. Hilary Hoynes and Michael Devereux were the keynote speakers at the conference. Megan presented her work during the “Social Safety Net Programs and Labor Markets” session. Her work studies the extent to which people reduce their earnings to qualify for Medicaid coverage, and she then uses that information to estimate the cash-equivalent value of Medicaid to beneficiaries.
Feature | 05/07/2019
5 Ways to Look Confident in an Interview (Even When You're Freaking Out)
Taken from The Muse: https://www.themuse.com/advice/5-ways-to-look-confident-in-an-interview-even-when-youre-freaking-out
After the long, exhausting journey of searching for and applying to new jobs, you’ve just been rewarded with a golden ticket—an interview.
But after a brief moment of celebration, the panic sets in: Your heart is already pounding, your palms are beginning to sweat, and you’re wondering: Are hiring managers like sharks—can they smell fear?
If the thought of sitting across from a hiring manager makes your stomach turn, you’re not alone. But don’t let your nerves get the best of you! Try one these strategies that will help you feel calm, cool, and collected—or at least make you appear that way.
1. Just Breathe
While waiting to be greeted by your interviewer, take a few moments to do some breathing. (Yes, like a pregnant woman in labor!) By doing this, you can redirect the troublesome emotion you’re experiencing (e.g., nervousness or fear) and be able to focus on something else (in this case, the amazing job that you’re hoping to land). Holistic health expert Andrew Weil, MD praises breathing exercises, saying, “Since breathing is something we can control and regulate, it is a useful tool for achieving a relaxed and clear state of mind.”
To do this most effectively, take a deep breath through your nose (really feel your stomach expand) and then slowly blow it out through your mouth. Repeat this three times, while concentrating on centering your thoughts. The best thing about this technique is that you can do it anywhere (and quite unnoticeably), so if you feel your nerves start to swell during the interview, simply take another breath.
2. Don’t Fidget
Nervous fidgeting is one of the most telltale signs that you’re nervous, so this is an incredibly important skill to master. My go-to trick is to keep my hands clasped together on the table or in my lap to avoid any subconscious table tapping, hair twirling, or otherwise noticeable squirming. I’m also a leg-shaker—but keeping my hands in my lap and applying a bit of pressure to my legs helps remind me to keep the shaking to a minimum.
If you think you don’t have any fidgety habits, you might want to think again—most people aren’t aware of their own nervous tendencies because they’re such an ingrained part of their natural behavior. To double check, try doing a few mock interviews with a friend who can call you out on any fidgeting. Once you know exactly what to avoid, you can practice controlling it.
3. Make Eye Contact
One of the best ways to fool a hiring manager into thinking you’re more confident than you feel is to keep steady, natural eye contact throughout the interview. Mary Griffin, a Human Resources Director for a national healthcare company says, “A key giveaway of a nervous Nellie is a lack of direct eye contact—looking down, looking away, and not looking the interviewer directly in the eyes. A more confident interviewee appears to be engaged with the interviewer.”
One way to remind yourself to make regular eye contact is to focus on a spot between the interviewer’s eyes. You can even imagine a colorful bulls-eye there—whatever it takes to keep your eyes from wandering too much.
On the flip side, you don’t want to stay so intensely focused on making eye contact that you end up sending out a creepy vibe! So remember to take natural breaks, like looking down at your resume every once in a while. It’s a balancing act, so just keep practicing until it feels comfortable.
4. Press Pause
Some of us (myself included!) tend to ramble when we’re nervous. This can be dangerous because once we start talking, it’s incredibly easy to veer off topic and say more than what’s needed—or worse, more than what’s appropriate.
To preempt any rambling, I try to answer each question with only one thought or idea at a time. For example, if you’re asked to describe a trait you disliked about a previous supervisor, you could say, “I found that her tendency to micromanage conflicted with my productivity.” Then stop. This will save you from unnecessary add-ons like “She was a total control freak whose inability to let me make my own decisions made me want to run down the hall screaming obscenities”—even if that may be the most honest answer.
The key to mastering this technique is to keep your tone sincere, so that even if your responses are brief, they don’t come off as curt or dismissive. It’s more about sticking to one main topic per question instead of going off a nervous tangent. And don’t worry—if the interviewer wants you to elaborate on a certain topic, she’ll ask.
5. Think Positively
Finally, calm your nerves by reminding yourself that you deserve to be there. Hey, you wouldn’t have been invited to interview if you weren’t being seriously considered as a candidate! Use this knowledge to your advantage to mentally pump yourself up before the interview. It can take the edge off enough to allow you to approach the situation with a burst of self-assurance and poise.
Most importantly, remember that while you certainly need to be calm, collected, and confident in order to score the job, an interview is not a life-or-death situation. Hiring managers are humans, too—and they’ll understand and forgive a few minor nervous blips.
So with that in mind, relax, gather your strength, and walk into that interview with a newfound confidence (at least on the outside!).
Feature | 03/08/2017
2017 Undergraduate Economics Career Forum
Economics alumni will return to Monroe Hall from around the country to share their career experiences with U.Va. students. Career panels will be moderated by Economics faculty.
Feature | 06/05/2018
How to Include Volunteer Experience on Your Resume
When it comes to writing or updating your resume, you know you should include your relevant work history, education, and technical skills.
But what about your volunteer experience? Will hiring managers even care about the time you spent building homes in Central America or organizing that charity walk?
I’ll make this one easy for you: yes!
You should absolutely include volunteer experience on your resume. It’ll help you
Feature | 12/01/2021
Yutong Chen Presents at 2021 SEA Conference
Yutong Chen, a fourth-year graduate student, presented her paper at the Southern Economic Association’s 2021 Meeting in Houston, TX. The paper, “Does the Gig Economy Discriminate? Evidence from Physicians in China,” finds that patients discriminate against female physicians, which leads to gender gaps on an online healthcare platform. Additionally, the platform’s ranking algorithm exacerbates gender gaps via the feedback loop.
Feature | 12/01/2021
Organizing Your Internship, Job, or Graduate School Search
Hello Econ Majors,
With finals just ahead of us, I'm sure you're focused on preparing for your exams and papers.
Wishing you great success in the next few weeks.
When you return to your internship, job, or graduate school search, consider using the tools below to help keep you organized, which will surely reduce stress!
This article recommends numerous electronic resources as basic as an MSExcel spreadsheet or MSWord table to track your applications, to websites and apps like JibberJobber that will keep your job search materials in order. Of course, the ECO recommends Handshake, but that is just one tool in your job search toolkit! https://www.thebalancecareers.com/organize-your-job-search-2060710
While the article offers resources to help build your resume and cover letters, UVA has its very own AI tools for you! Check out VMock in Handshake. The three modules we license are:
- Resume Review Tool (Scores your resume based on industry/job function and offers suggestions for improvement)
- LinkedIn Review Tool (Aspire) (Connects with your LInkedIn profile to score and recommend improvements)
- Elevator Pitch Tool (Records your pitch for scoring and recommends improvements)
All three have built-in algorithms to review your materials and help you prepare for conversations with alumni and employers. Please do not use the resume builder tool in VMock because its template is not flexible enough to customize your resume once it is built.
Again, best wishes during this finals period. I look forward to seeing you in the new year!
Jennifer Jones, Economics Career Office
Feature | 08/12/2016
Common Resume Mistakes
It's easy to rely on Spellcheck, but you might be surprised by how many grammatical and spelling mistakes it can miss.
Feature | 08/30/2018
Fox News: Is America's economy crushing it?
Q: What’s So Special about This Article?
A: There are several potential employers included, which were sources of information for the piece. How many can you find?
A sustainable economic recovery is getting harder to dispute. Read the full story here.
Feature | 07/18/2019
Any Questions? What to Ask in an Interview
Any Questions? What to Ask in an Interview
Taken from The Muse: https://www.themuse.com/advice/any-questions-what-to-ask-in-an-interview
A good interview is more than just artful answers to any question a prospective employer throws your way. Remember, you’ll need to be just as prepared once the tables turn.
When an interviewer asks, “Do you have any questions?” she’s not just being polite. She’s trying to gauge whether you’re informed, interested, and engaged. Explains recruiter Angela Smith, “if an applicant doesn't have any questions for me, that's a red flag. I'm thinking that they either don't care or can't be bothered to do research about my company.”
This question is also an important opportunity to help you decide if the job and company is the right fit for you. Here’s our guide on what to ask (and avoid!) when you’re interviewing the interviewer.
Step 1: Clarify Your Uncertainties
Your first step should be to ask anything about the position that hasn’t been covered in the interview (though not questions you’d know the answers to by looking at the job description or company website). “You want the questions to be well thought-out and meaningful to the position and industry,” says Smith. Sample questions could include:
- What does a typical day look like?
- What are the biggest challenges that someone in this position would face?
- How will I be trained? How will my performance be reviewed?
- What are the performance expectations of this position over the first 12 months?
- What are the most immediate projects that need to be addressed?
Step 2: Remove Their Doubts
Next, ask questions that will allow you to talk about any strengths or accomplishments you didn’t cover in the interview, or to make sure that you are sharing with the interviewer the same types of qualities they are looking for. “I ask what kind of person they see ideally fitting the job,” says Brittany Mazin, a young professional. “It’s good to be clear on exactly what they are looking for and whether you are a good match for the job.” Once they answer, you can clarify or reiterate why you’ll be a good match. Some ways to phrase this:
- What are the skills and experiences you’re looking for in an ideal candidate?
- What attributes does someone need to have in order to be really successful in this position?
- What types of skills is the team missing that you're looking to fill with a new hire?
- Is there anything that concerns you about my background being a fit for this role?
Step 3: Uncover Red Flags
This can be tricky to do tactfully, but asking questions about turnover, culture, and growth opportunities during the interview process can prevent unpleasant surprises down the road. Questions you could ask include:
- What is the company culture like?
- Can you tell me about the team I’ll be working with?
- Where is the last person who held this job moving on to?
- Where have successful employees previously in this position progressed to?
- What are the career paths in this department/company?
Step 4: Get a View of the Future
Asking questions about the growth of the company and its employees is a good idea for two reasons. “I always ask what a company's goals are for the next five to ten years. It gives a good perspective on what their values are and how I may or may not fit with a company,” says Diane Kulseth, another young professional. Plus, asking about the future of the company and opportunities for your own growth shows that you’re committed and eager to learn. You can ask:
- Where do you see this company in the next few years?
- What can you tell me about your new product or plans for growth?
- What training programs are available to your employees?
- Are there opportunities for advancement or professional development?
Step 5: Build a Relationship
When in doubt, ask the interviewer about himself or herself. “I ask interviewers about their journey in their career, such as what field they were in before and how it led to where they are now,” says Sasha Rice, a recent graduate. “People love talking about themselves…Plus, if you have similarities, it creates a bond between you and them.” But “be careful,” suggests Smith “to not get too personal, and pay attention to how the interviewer reacts.” Try questions like:
- How long have you been with the company?
- What did you do before?
- Why did you come to this company?
- What’s your favorite part about working here?
Step 6: Wrap Up
At the end of the interview, don’t forget to ask about next steps. First, reiterate that you’re interested in the position (assuming you still are, of course!), and ask the following non-presumptuous questions about what’s next in the hiring process:
- What are the next steps in the interview process?
- Is there anything else I can provide you with that would be helpful?
Questions to Avoid
Sure, there are a million more questions you’d like to ask (um, where’s the best place around here for happy hour?), but there are some key topics to avoid, too. Most importantly: “never ask any question you should already know the answer to. You must do your homework and research before going to the interview,” says Amy Stake-Michalenko, Career Services Manager at Fresh Start Women’s Foundation.
Salary is another taboo. “Never ask about benefits, pay, what they will do for you—particularly in a first or even second round interview. This will be negotiated once they make you an offer and prior to you accepting,” Stake-Michalenko adds.
Finally, don’t bombard the interviewer with a laundry list of questions. If she seems engaged in the conversation and encourages you to keep asking, great, but if you see her looking at her watch, time to wrap it up! It’s best to pick a handful of questions that are most important to you and leave on a positive note.
Feature | 08/18/2016
The Impact of Female Law Enforcement
In 2014, Professor Amalia Miller, studied the effects of integrating female law enforcement. See the original paper here.
Feature | 08/12/2016
What Color Is Your Parachute?
Article on: Are You a Parachute Counselor, by Dick Bolles
This article captures the essence of the book and students may want to read it independently, or follow up by checking out the book in its entirety.
Feature | 01/31/2017
ARTICLE- THIS LINKEDIN RECRUITER'S TIPS FOR SHOWCASING SOFT SKILLS ON JOB INTERVIEWS
"If you’ve heard a lot about “soft skills” lately, it’s at least partly because employers want you to develop them. According to our Global Recruiting Trends study here at LinkedIn, more employers are rolling out “soft skills assessments” to test job candidates on the cognitive and personality qualities you don’t go to school to learn: critical thinking, adaptability, learning agility, communication, etc. By all indications, these factors aretrading at a higher value in 2017 than they have in the past."-Brendan Browne
Click here to read the rest of the article
Feature | 10/10/2016
ECO NEWSLETTER 10.10.16
Resources Galore! Upcoming Events!
Feature | 08/12/2016
Tips from a former Morgan Stanley Intern
A former Morgan Stanley intern, Ellen Jin, turned full-time Credit Risk Analyst talks about her experience with finding an internship and how she worked her way up to where she is now!
Feature | 11/05/2019
ECONOMIST’S STUDY FINDS RACIAL WAGE GAP MAY EXPLAIN ALMOST ALL OF WEALTH GAP
Feature | 05/23/2022
Tyler Wake and MJ Nilayamgode present at MMC
Graduate students Tyler Wake and Mrithyunjayan (MJ) Nilayamgode attended the Midwest Macro Conference at Utah State University in Logan, Utah on May 20 and 21, 2022. They presented original research co-authored with their advisor Ana Fostel, “Collateral Expansion: Pricing Spillovers from Financial Innovation,” and attended a variety of talks, including two keynote speeches from Ayşegül Şahin and Tom Sargent. Other UVA Economics PhD graduates in attendance included Joaquin Saldain (Bank of Canada) and Ia Vardishvili (Auburn University).
The Midwest Macroeconomics Conference began meeting in 1994 and is one of the longest- running dedicated macroeconomics conferences in the United States. Its next meeting will be in Fall 2022 at Southern Methodist University in Dallas, Texas.
Feature | 03/14/2019
Diego Legal-Cañisá, Participant in the new Initiative for Computational Economics (nICE)
Computational technologies are exploding in their ability to analyze complex scientific problems. In August 2018, 5th year PhD student Diego Legal-Cañisá attended the new Initiative for Computational Economics (nICE), organized by Kenneth Judd at Stanford's Hoover Institution, which focused on how these technologies could be applied to the analysis of economic problems. Diego (seen in the accompanying picture, seated in the second row, first from the left) cites the many benefits of participating in nICE: "It was an excellent experience where the state of art numerical methods and their application to economics problems were surveyed. I learned about some powerful software tools, I heard some of the leading experts in computational economics presenting the latest developments in the field, and most importantly, I presented my research--focusing on its computational aspects--and discussed it with top researchers and fellow graduate students from other universities."
Feature | 10/30/2018
Identify Your Network: Who do you Know?
Identify your Network: Whom do you Know?
A common complaint job seekers make is, “I don’t have a network!” It’s very frustrating to realize job search networking is the best way to land an opportunity but to believe that avenue isn’t open to you. Luckily, you do have a network! In fact, anyone who knows one person has a network, and it’s likely your acquaintances, friends, and family members number many more than one. In other words, it’s just a matter of learning how to identify people most interested in your expertise.
Identify Your Network
Do you use Facebook? Are you connected to anyone on that social network? Your “friends” there, whether you really like them or not, are part of your professional network. (Even if you’ve never exchanged a word you’d consider “professional” with any of them.)
Do you use other networks, such as Instagram, Pinterest, or SnapChat? Believe it or not, people whose photos you comment on or whose pins you share are also part of your network.
You don’t need to have 500+ LinkedIn contacts to call yourself networked. However, you do need to learn how to tap into these networks of people to access professionally useful information. Ideally, you’ll want to identify any of the people in these networks who may also leverage any of the more typically accessed professional networks, such as LinkedIn, and then connect with them there.
People You Know
Maybe you don’t use social media (although it’s nearly a job-search necessity these days). “Ah ha,” you’re thinking, “I really don't have a network.” Perhaps, if you’ve never taken a class, had a job or internship, or left your house, you may make an argument that you don't have a network. However, most readers won’t accurately fit into those parameters. You have the potential to grow your network every time you leave your home. Do you grocery shop? Attend sporting events? Go to family dinners? Belong to a walking group in your neighborhood? All of these places provide great opportunities to expand your professional network.
Do you see a pattern here? Your professional network doesn’t come with special stickers or labels that say “job networking.” Your network encompasses everyone you know, and everyone those people know, too. If you really want to be fancy, it technically includes at least one more degree of separation, which would capture everyone who is a friend or acquaintance of those friends.
Start thinking about the strength of your professional network using this list:
- Your family members and friends. (They don’t need to have jobs to join your network.)
- Everyone you’ve ever worked with, including volunteer jobs.
- People who attended school with you. Teachers count, too. This includes elementary school through college and grad school. Don’t forget to include people you met at professional development classes or fitness and exercise classes.
- People you know from religious groups. If you go to religious services, everyone you meet there can be part of your network.
- People you meet in your community or neighborhood, including at the dog park, kids’ soccer games, or the local street festival.
- Anyone you know via your children’s activities.
- People you meet while practicing your hobby, whether it is gardening, golfing, or skydiving. Anyone you meet can be part of your network.
- Military contacts.
- Your hairdresser or barber, the bartender at the local watering hole, and your dry cleaner are all in your network. Professionals who interact with a lot of people on a daily basis make great networking contacts. In addition, any one in a profession involving dealing with other professionals, such as accountants, lawyers, and business coaches make good contacts. They know a lot of people, and probably have someone in their network to connect with you.
If you don’t believe your extended network can help you get a job, these stories may change your mind.
Bettina Smalley recalled how she landed her first job out of college: “Divine intervention got me my first job at Scientific-Atlanta many moons ago. The pastor of my little Lutheran church was friends with a recruiter who needed to fill a sales position ‘at some big company’ with someone who spoke German. My pastor called me at 10 p.m. one night to tell me about it. By the end of the week, I had the job. If you're referred by a man of God, I guess they assume your references are good!”
This is a perfect example of the “you never know” factor when it comes to a job search. Bettina’s pastor knew something personal about her that also related to her professional potential: she speaks German. Are people in your network clued into your special skills and goals? One way to make sure they are in the loop about your plans and skills is to share information related to your professional life on more personal networks, such as Facebook. Do your grade school or high school friends and contacts know you’ve returned to school to study human resources, or that you just obtained certification as a massage therapist? If not, it’s a good idea to make sure they do. Either spread the word in person or via online networks to ensure you tap your network efficiently.
Andrea Clement, a PR and media professional in the medical recruiting industry,
found her current job after running into a former boss at Nordstrom on Christmas Eve. She explained, “We both scrambled to do last-minute holiday shopping. At the time I was happily employed and he had just started his own firm. He asked if I was interested and I said that I really loved my job so I wasn't sure, which was true. After the holidays, my then boss resigned, and she was my favorite aspect of that job. That February, I became the first employee of the start-up firm working for the former boss I'd seen in Nordstrom! That was 2007. I'm still here and now we have 80+ associates!”
While not every networking success story begins with a random meeting, if you ask people you know, you may be surprised to find out how many found their jobs, not just via networking, but through very random networking circumstances. The lesson in this case is that you never know when you’ll run into someone who can be influential to your career. Keep this in mind if you’re in full-on networking mode. For example, be sure you go out dressed to meet professional contacts. This doesn’t mean donning a three-piece suit to go to the bank, but consider your networking goals when you’re out and about and tweak your appearance to ensure you are comfortable introducing yourself to people no matter the circumstances.
Levels of Networks
Your network has multiple levels. Your immediate network includes the people you know directly, either in person or via social networks. You also can access the people they know as part of your extended network. In other words, your brother’s boss, your neighbor’s professor, or your college friend’s accountant, are all in your network. Don’t forget: each network links you to another network of potentially untapped contacts.
You never know when “someone will know someone.” Corey-Jan Albert, a writer and marketing consultant, shared a great networking connection story about her son, Cameron, a recent college graduate seeking a journalism position: “About a week ago, he mentioned a position he applied for. I asked him if he knew who he'd be working for there, and he said he did. I told him to check the guy's LinkedIn and see what he could find. He called me back and said, ‘YOU know someone who knows him! I can't see who that is since I'm two degrees of contact removed, but you can.’ It turns out the common connection was Cameron's 5th grade soccer coach—now living in NY, working at Reuters. Cameron reached out to him. The former soccer coach was thrilled to hear from him, and not only gave him some Intel on the situation at hand; he also offered to link him up with the editor at Reuters in charge of freelance assignments. Double win!”
This story proves a few important lessons about networking. You may find the best networking contacts are people who would never have considered members of your official network. (Most college graduates don’t think their 5th-grade soccer coach will be a key player in their job search efforts. It’s also a good reminder to tap into family member networks.) Especially if you believe your network is small, connect with relatives on LinkedIn. It’s perfectly acceptable (and expected) to “link in” with your parents, grandparents, and their friends. If Cameron hadn’t been linked to his mom, he would not have realized this terrific contact. Unexpected results may happen from networking. In this case, Cameron accessed a freelance contact, even though he is seeking a traditional, full-time job. You never know what surprises await when you explore your networking potential.
Miriam Salpeter is owner and founder of Keppie Careers (http://www.keppiecareers.com/), a coaching and consulting firm helping job seekers and entrepreneurs leverage social media and other tools to achieve their goals. She has appeared on CNN, and major media outlets, including The Wall Street Journal, The New York Times, Forbes and others have quoted her advice. In addition to her own blog, Miriam writes for U.S. News & World Report and for AolJobs.com. She is the author of the books, Social Networking for Career Success, Social Networking for Business Success: How to Turn Your Interests into Income, and 100 Conversations for Career Success. Named to CNN’s list of “top 10 job tweeters you should be following” and a “top 5” influencer on Twitter for job seekers by Mashable.com. Miriam also had her blog selected as a top career resource by Forbes. A vice president for a Wall Street firm prior to earning a master’s degree from Columbia University, Miriam ran the Career Action Center at the Rollins School of Public Health of Emory University before launching her own business.
Feature | 11/01/2018
Diego Legal-Cañisá at the Becker-Friedman Institute's Macro Financial Modeling Summer Session
The Macro Financial Modeling (MFM) Summer Session, organized by the University of Chicago's Becker-Friedman Institute, is designed for early-career professionals and doctoral students in economics and related fields who are interested in developing enhanced macroeconomic models with linkages to the financial sector. Diego Legal-Cañisá, who participated in the 2018 Session, reports that it was "an excellent opportunity to receive feedback on my research from a wide range of top scholars with similar research interests. I did a poster presentation which allowed me to practice explaining my research and preliminary results and answering questions clearly and concisely. I received insightful comments and recommendations, such as suggestions of additional exercises I could perform and connections I could make to other related areas. In addition, the MFM was a great opportunity to learn more about frontier research in macro-finance from top scholars and to listen to inspiring keynote talks by Lars Hansen, Christopher Sims, Andrew W. Lo, and Harald Uhlig, to name a few. Last but not least, it was a great opportunity to exchange experiences about academic life with colleagues and gather resources pertaining to conferences and internship opportunities, job market tips, and other useful resources that will help me develop as a researcher."
Feature | 08/28/2019
How to Solve Business Problems Using Creativity
By: Lynda Shaw
What comes into your mind when you think of creativity? An artist painting beautiful works of art? A designer with imagination and skills for contemporary architecture? An original thinker of the type lauded as a genius? Of course, creativity is all of these, but creative people also think of valuable and practical ways of doing things. They solve problems on a regular basis by employing creative thought. That is the kind of creativity that is exceedingly helpful in business and an incredible transferable skill for anyone who can master it.
Social psychologist and cofounder of the London School of Economics, Graham Wallas developed a theory of a creative process that I think you may find useful. With observations some years earlier from Poincaré, a French mathematician, Wallas came up with a logical and practical template to harness the seemingly illogical unconscious thinking that can nevertheless be so illuminating and turn into the perfect solution to problems.
There are four steps to this model:
Step 1 – Preparation: Recognize the problem and find out as much about it as you can. Consciously try to come up with an answer.
Step 2 – Incubation: Do something unrelated to the problem, think of something else and allow your mind to unconsciously work on the problem.
Step 3 – Illumination: It is during the incubation period that an unrelated event could give an answer, a sort of realization, an illumination.
Step 4 – Verification: At this point you check the solution you have come up with to see if it will work.
The "incubation" period is the interesting part and this has stimulated much debate over the years. It could be that the information you consider in the preparation phase has itself already undergone some unconscious processing. Some believe that unconscious thinking is faster than conscious thought, so is therefore more efficient in the incubation phase. Psychologists more recently suggest that unconscious processing is more effective than conscious processing because it has no constraints associated with normal concepts, so frees the mind to come up with novel answers.
As is often the case in psychology, there are researchers (such as Weisberg) who disagree and the incubation period model is under contention. Many believe that problem solving isn’t in the least bit mysterious and is a combination of relevant knowledge, factual information and problem solving strategies. In this context, these strategies can include analogical problem solving whereby we use our experiences of similar situations and apply this previously acquired knowledge to find solutions. Be careful however, as there will be different variables to consider, so stay open minded.
But here’s a thought. A recent study by Saggar and colleagues found a link between creative problem solving and activity in the cerebellum part of the brain, which is normally associated with regulating motor movements such as balance, co-ordination and speech. They found that when people engaged the executive-control center, engaging higher order functions such as planning and organizing, it actually impaired creative problem solving. In this instance, thinking logically didn’t help with the task.
So what strategies for creative problem solving do you favor? Are you in the logical camp or do you prefer the four-step model? Perhaps you have other ways in which you work out those sticky challenges. Whichever you prefer, perhaps it’s a good idea to shake up old ways of doing things and consciously try something different and measure its success or otherwise. At least that way you will know what best suits you.
Feature | 05/11/2017
NFL player, Chris Long stops by to talk to ECON 4430 students
On April 13th NFL player, Chris Long stopped by to talk to students in ECON 4430: Environmental Economics about his foundation’s work bringing water wells to East Africa
Feature | 04/19/2022
Summer Intern Candidates Facing Bidding Wars
In-demand college students seeking summer internships are reneging on offers as companies swoop in to offer better deals. Host J.R. Whalen is joined by Georgia Tech senior Najaah Chambliss, who walked away from an internship, and WSJ reporter Lindsay Ellis, who discusses the trend and how companies are responding.
If you are considering reneging on an internship or job offer, please connect with Jen Jones at email@example.com.
Listen to the recording here with a WSJ subscription.
This transcript was prepared by a transcription service. This version may not be in its final form and may be updated.
J.R. Whalen: Here's Your Money Briefing for Friday, March 4th. I'm J.R. Whalen for The Wall Street Journal. We've told you how the pandemic helped create a job seekers market with millions of workers leaving their jobs for better pay and companies struggling to fill open slots. But that's also happening among students who are trying to land summer internships. Competition for interns has gotten so fierce that some who've gotten and accepted offers are reneging on them to take a better deal elsewhere.
Lindsay Ellis: Just like a lot of job seekers, there is demand for people to come in the door. Companies look at their summer internship programs and they're not just thinking about that summer. They're thinking, "Who can we identify among this cohort of interns that a year from now we're going to want to bring back or we want to hire full-time after the program."
J.R. Whalen: On today's show, we'll discuss the growing leverage students have in the competitive world of summer internships with our reporter, Lindsay Ellis. Plus we'll hear from one student who reneged at an intern ship offer and see how it turned out. That's after the break. For college students, an offer for a summer internship can mean getting their foot in the door and launching a career track. But amid the tight labor market, more students are walking away from offers they've already accepted to take an even better one. In a moment, we'll hear from WSJ reporter Lindsay Ellis about this growing trend and the competition for entry level talent. But first let's bring in one of those in-demand interns for a firsthand account. I'm joined now by (Naja Shambliss). She's 21 and a senior at Georgia Tech University majoring in computer science. Last fall, she began applying for internships for this coming summer. Hey Naja, thanks for being here.
Naja Shambliss: I'm glad to be here.
J.R. Whalen: So Naja, back in October you landed a summer internship. Tell us about how that went.
Naja Shambliss: Yeah, so I was applying for internships and I had found this opportunity on, I believe LinkedIn. It was either LinkedIn or Handshake I believe. And so, yeah, I went ahead and applied and I figured I had a pretty good chance of getting this internship because I had previously interned with a defense company and so I thought getting this internship from this other defense company would be not too bad. And I also wanted to intern somewhere else other than this previous company, which is why I was applying for other companies. And so, yeah, I applied and it took a little while to get back to me, but I ended up interviewing with them once and then I heard back from them about a month later, I believe, saying that I received an offer.
J.R. Whalen: All right. But then earlier of this year, your plans changed. What happened there?
Naja Shambliss: Yeah. So at the end of November, my recruiter reached out to me on LinkedIn also asking me to apply for a Microsoft internship and I had already accepted the defense internship, but I was like, it's Microsoft, I've applied for them before. I haven't been accepted previously, so this would just be an extra step for practice for when I apply again for the next recruiting season. So I filled out the application she sent me and then I went through the first round of interviews, which wasn't too bad, thank God. And then I got pushed to the final round and I received an offer after that.
J.R. Whalen: Oh, so what did Microsoft offer you?
Naja Shambliss: I'm not able to disclose the numbers, but let's say it was definitely double what the defense industry was offering me. And then they were also giving me a relocation, stipend and a stipend to help with my moving expenses and stuff like that. So it was a pretty great deal.
J.R. Whalen: So you eventually had to go tell the defense company that you had accepted a new opportunity. How'd that conversation go?
Naja Shambliss: So it's actually pretty funny. I sent out an email to, I believe she was my onboarding HR person and stating that I do apologize for having to do this to you guys so late in the game, but unfortunately I have to renege my offer, and I actually did not get a response for them. I had sent them an email and I never received an email back, but I did look at my portal and it had said that I was no longer being considered for the position. So I don't think they received that information in the best way, but yes, that's what happened.
J.R. Whalen: So when you first got the word from the recruiter that there was a Microsoft internship out there to try to go after, how did you feel about that process at that stage? I imagine you had firmed up the defense company internship and had signed some papers, right?
Naja Shambliss: Yeah. I thought this opportunity was different maybe because I had never had a recruiter directly from a company DM me, or specifically for Microsoft, I have never had a Microsoft recruiter DM me on LinkedIn asking me to apply for position. So I kind of had a good feeling about this process and that's kind of what made me be like, "Okay, even though I've already accepted this offer, this might turn out differently, so let's try it."
J.R. Whalen: All right. That's Naja Shambliss, a senior at Georgia Tech University with us. Naja, thank you so much for taking the time to chat.
Naja Shambliss: Thank you for having me. This is my first podcast experience, so I'm very grateful. Thank you so much for this opportunity.
J.R. Whalen: Oh, we really appreciate it. Thanks a lot.
Naja Shambliss: No problem.
J.R. Whalen: So what's driving this cutthroat competition for interns and what are companies doing to keep potential interns interested? For more on that, I'm joined by WSJ reporter, Lindsay Ellis. She's been looking into it. Lindsay, thanks so much for being here.
Lindsay Ellis: Thank you so much for having me.
J.R. Whalen: So Lindsay, these bidding wars for interns like we just heard with Naja, is that something new?
Lindsay Ellis: So interns, especially in demand fields like computer science, engineering and the like, they've always had some competitive offers, but the level of competition that I heard from interns seemed just really striking. Campuses and companies are saying that they're seeing competition over interns in a way that feels different than prior years, especially the last two years, the first with the pandemic really sinking in and last year with everything in a much different hiring market than we are right now.
J.R. Whalen: So why do interns suddenly have this kind of leverage in the job market?
Lindsay Ellis: Just like a lot of job seekers, there is demand for people to come in the door. And I think that for interns emerges in a couple of ways, the first is, companies really want applicants and they want qualified applicants. And that inherently gives the people who are applying, who have strong resumes, who have the skills that they're looking for an edge. I think the other reason is companies look at their summer internship programs and they're not just thinking about that summer. They're thinking, "Who can we identify among this cohort of interns that a year from now we're going to want to bring back or we want to hire full time after the program." And so this is sort of a key pool for companies to look at their entry level workforce. And so there is more demand in hiring the right people when this could be my pipeline six months from now, a year from now.
J.R. Whalen: Is there ever any kind of a penalty if a student backs out of an internship that they've already accepted?
Lindsay Ellis: It can vary from campus to campus, but yes. Cornell's business school, if you're an MBA student and you accept an offer for the summer and then you go out and interview and accept a different one and back out of that first one, they say that they reserve the right to fine you up to $2,500.
J.R. Whalen: Wow. I mean, for a college student, that's a lot of money.
Lindsay Ellis: It is, yes. And for those two, those were specifically for business school students, so perhaps a little later in their career. But these are people that don't necessarily have income coming in every month and yet still might be on the hook. There are other penalties that are also significant. At the University of California Berkeley's business school, one of the possible sanctions is a 16 hour service project. So that can be a significant amount of money certainly and time if you're caught backing out from this.
J.R. Whalen: But a student might consider switching to a different internship that could better jumpstart their career, right? But is there a danger of them burning their bridges behind them?
Lindsay Ellis: Colleges say that there is. I mean, they are quick to remind students that it's a small world and a small job market in a lot of ways. Recruiters move from company to company. Someone who you interact with when you're 22, you might encounter in a totally different field a few years down the line. They also sort of put in place their own regulations that could hamper a student's trajectory as they continue through their education. Some schools at the undergraduate level will restrict the use of a platform called Handshake where a lot of jobs are listed for students who are caught backing out. I think students who I talked to who have considered this or who have done this look at the name on the resume, they look at the salary that they could be bringing in and importantly, they look at the experience that they think that they're going to get at these preferred internship programs. And in a lot of cases, that's a very strong counterweight to a more nebulous idea of possible ramifications. There's another side to that coin as well, which is the relationship between the college and the company, and many campus career offices are really cognizant of that relationship and don't want to do anything to stress it or damage it. Their fear is that if a number of students back out from opportunities that they've already accepted, might that influence whether a company wants to come back next semester or next year and knock on their door and recruit future classes. And so one aspect of could this be hurtful, is thinking about what is the next student who comes around, what's going to be their experience, and colleges really have that front of mind.
J.R. Whalen: Now, there's usually several months between the time somebody lands an internship and when they actually start. So what are companies doing to prevent people from backing out?
Lindsay Ellis: There usually are several months between these dates and one thing that really surprised me in reporting this is that in some cases there are many more months than I had anticipated. People were telling me that they were interviewing for these summer internships while they were doing a different summer internship. So companies need to keep students warm is what they say, make sure that they're front of mind for these candidates that they've worked hard to recruit. Liberty Mutual told me about their keep in touch campaign, including interns in get togethers that are held virtually, some coffee chats and the like to keep them engaged with what's going on. One logistics company that I talked to mentioned sending holiday e-cards to the students who had accepted. So there are different tactics, some with video engagement and when possible in-person engagement, but others just really leaning into the messaging.
J.R. Whalen: And so how are the companies responding to this trend of interns backing out of offers and how are they thinking about their internship programs more broadly to keep people interested?
Lindsay Ellis: So some of them are looking at pay benchmarks and making sure that this very basic aspect of it, this critical aspect of it is competitive of with other organizations and external benchmarks. Some of them begrudge the trend and you kind of throw your hands up in the air and it's a little bit of a "kids these days" reaction. But the thing that I think most stood out to me on this was a real focus on what can we do as an organization to prepare for the summer, just kind of accepting that this might take place. So a few companies, including General Mills told me and have mentioned that they plan to overhire, basically extending a few more offers than they typical would and hoping that a few more candidates than they want to accept accept, expecting that a few of them are maybe going to back out between now and the summer. And I think they're also thinking about how they recruit and how they build relationships with students. One common refrain I heard from recruiters was, "In this virtual environment maybe students feel less of a strong connection with us as a company and with the recruiters and the team overall. How can we build that up and keep them feeling close?" And so that sort of speaks to some of the strategies, the keeping in touch efforts and the like.
J.R. Whalen: All right. That's Wall Street Journal reporter, Lindsay Ellis with us. Lindsay, thanks so much for being with us.
Lindsay Ellis: Thank you for having me.
J.R. Whalen: And that's Your Money Briefing. I'm J.R. Whalen for The Wall Street Journal.
Feature | 12/13/2022
Class of 2021 First Destinations Report
Click on the link below to access the Class of 2021 First Destination Report.
Feature | 12/01/2021
The Economics Department Welcomes Its 2021-23 Bridge Fellows
The Department of Economics is pleased to welcome the inaugural cohort of Bridge to the Doctorate Fellows, starting in Fall 2021: Abigail Matthew and Fatimah Shaalan. The Bridge to the Doctorate program is a two-year, post-baccalaureate program, designed to prepare students from groups that are underrepresented in economics for doctoral programs. Fellows have the opportunity to take graduate or advanced undergraduate classes and gain research experience under faculty supervision. The application deadline for the Fall 2022 entering cohort is March 1, 2022. No application fee or standardized test scores are required. For further information and to apply, please visit the link: https://graduate.as.virginia.edu/bridge-doctorate.
Feature | 09/29/2016
ECO NEWSLETTER 9.29.16
Feature | 10/02/2017
ARTICLE - 43 RESUME TIPS THAT WILL HELP GET YOU HIRED
"When you haven’t updated your resume in a while, it can be hard to know where to start. What experiences and accomplishments should you include for the jobs you’ve got your eye on? What new resume rules and trends should you be following? And seriously, one page or two?" - Erin Greenawald
Click here to read the rest of the article.
Feature | 10/11/2019
Cailin Slattery Wins National Tax Association Dissertation Award
Cailin, who graduated in 2019 and is now an assistant professor of Economics in the Columbia Graduate School of Business, won the award for her dissertation “State Competition in the Market for Firms.” For more information, please visit the National Tax Association website: https://ntanet.org/awards/phd-dissertation-award/ .
Feature | 08/07/2017
ARTICLE - WHAT IS 'GRIT' AND WHY DO EMPLOYERS WANT YOU TO HAVE IT?
"Every year, Vault surveys thousands of investment banking professionals, asking them to tell us about life at their firms. We ask about culture, compensation, hours, training, and many more areas, including the hiring process. With respect to the hiring process, we ask professionals which traits an ideal job candidate needs to have to get hired. In the past, and again this year, banking professionals told us that the following traits are highly important (and, in some cases, required): a strong work ethic, team-playing ability, strong communication skills, strong technical skills, superior intellect, excellent problem-solving skills, and the ability to adapt to different situations." -Derek Loosvelt
Click here to read the rest of the article.
Feature | 09/15/2016
A long term study on the impact of GMO crops, co-led by Professor Federico Ciliberto
Professor Federico Ciliberto led a 14 year study on the environmental impact of genetically modified crops on farmworkers, consumers, and the environment. See more here.
Feature | 09/20/2018
Employment Possibilities Abound in This Article: Study: Netflix users are so addicted to bingeing there’s not much time left for family
By Andy Meeks
Imagine, for a moment, how much time a day you spend uninterrupted with family members. Got it? Now go ahead and double it. That, friends, is roughly how much time every single day the average Netflix user spends bingeing content.
It’s an estimate that comes via Streaming Observer, which found that the average Netflix user now spends a little more than an hour a day streaming content on the service. Which adds up to some 434 hours, the equivalent of 18 days, over the course of a year.
Here’s how the site arrived at those numbers. “At the end of last year, the company announced that its users streamed 140 million hours of content per day. At the time, there were 117.58 million subscribers. Simple math shows that dividing 140 million hours of content watched daily by 117.58 million subscribers results in the average user spending 1 hour and 11 minutes each day watching content on Netflix.”
One hour and 11 minutes doesn’t sound so bad, until you put it up against the roughly 36 minutes of quality, distraction-free time that other studies have found people spend with family members each day.
Here’s a closer look at what Streaming Observer has found:
“Recent studies have found that families only spend anywhere from 34 to 37 minutes of quality, undistracted time (e.g. time where they “feel they actually bond”) together on a typical day,” Streaming Observer notes. “Let’s average that out to 35.5. That means the typical subscriber spends about half as much quality time with their family as they do with Netflix.”
But there’s more. Again, these are all rough estimates, but according to the most recent annual edition of the Bureau of Labor Statistics’ American Time Use Survey, the Streaming Observer data also shows that Netflix users generally spend a lot more time bingeing than they do exercising, reading and hanging out with friends. Combined!
The crazy thing is that even with numbers like this, and with Netflix binges eating up so much of users’ time already, the company’s CEO Reed Hastings thinks the company still doesn’t own enough of its users’ day. “We’re still a small fraction of every society’s overall viewing,” he said on a call with investors earlier this summer. “So I think there’s still room to go there.”
Indeed, the company is still working to grow as much and as fast as it can. During the most recent quarter, Netflix reported 130 million global subscribers, up 25 percent from 104 million in the year-ago quarter.
Per Zacks Equity Research, Netflix is hoping to add 650,000 subscribers in the U.S. and a little more than 4 million internationally in the third quarter.
Feature | 08/09/2014
ARTICLE- 30 SMART ANSWERS TO TOUGH INTERVIEW QUESTIONS
"Tough interview questions are supposed to challenge job candidates and make them think on their feet.
This could make the typical job interview "the most harrowing forty-five minutes of your life," writes Vicky Oliver in her book "301 Smart Answers to Tough Interview Questions."
But you can be prepared ahead of time. We've compiled some of the toughest interview questions from Oliver's book — and how to answer them."-Vivian Giang and Alexandra Mondalek
Click here to read the rest of the article.
Feature | 09/19/2022
Career Advice from Mindy Kaling
Mindy Kaling Can Make You Laugh, But She Also Has Career Advice for You
By: Stav Ziv article from The Muse
Never have I ever admitted, until now, how eager I am to binge the new season of a teen dramedy (I am…not a teen). But Never Have I Ever—brainchild of Mindy Kaling and Lang Fisher—is too good and refreshingly weird not to be excited about, no matter how old you are. (Weird because, for example, notoriously confrontational tennis pro John McEnroe narrates the high school trials and tribulations of an Indian American teenager in California, what of it?) It’s one of the best teen shows I can remember watching—where most of the characters, minus Paxton, actually look like teens—and I’m not surprised Kaling had something to do with it.
An alum of Dartmouth who got her foot in the door on The Office, Kaling has spent her career painstakingly carving a path for herself in a very white, very male industry where she was, as she often talks about, a “diversity hire” who came up through NBC’s diversity program. “For a long time I was really embarrassed about that,” she told The Guardian. “It took me a while to realize that I was just getting the access other people had because of who they knew.”
She’s had to work just as hard to get onscreen as more than a forgettable sidekick as she has to get in the writers’ room. “My career has only become what it has out of sheer need, not because I wanted it that way. I knew if I wanted to perform I was going to have to write it myself,” she told Entertainment Weekly for a 2013 cover story. In a 2017 cover story of her own, Reese Witherspoon recounted a conversation she’d had with Kaling. “Don’t you ever get exhausted by always having to create your own roles?” Witherspoon had asked. Kaling replied: “Reese, I’ve never had anything that I didn’t create for myself.”
Well, create she did. After The Office—where she played Kelly Kapoor and wrote more episodes than anyone else—Kaling created and starred in six seasons of The Mindy Project. More recently, she wrote, produced, and played a leading role in the 2019 movie Late Night, loosely based on her own story as the lone woman and sole person of color in a writers’ room.
Never Have I Ever, which draws on Kaling’s formative experiences as the daughter of immigrants, takes representation to the next level. Not only did Kaling create roles for a diverse cast—and hire a previously unknown Tamil Canadian actress, the excellent Maitreyi Ramakrishnan, to take the helm as Devi through an open call—but she also filled the writers’ room with young Indian women. Together they shaped characters and storylines for a show that’s have inspired some mixed feelings, but also been hailed as a “win” and a “watershed moment.”
If you, too, want to know more about Kaling as you watch this new season, here’s a collection of inspiring quotes and real talk on diversity, hard work, success, mentorship, motherhood, and more—all in one place.
- On the “right” order: “Don’t be scared if you don’t do things in the right order, or if you don’t do some things at all… If you have a checklist, good for you. Structured ambition can sometimes be motivating. But also, feel free to let it go. Yes, my culminating advice from my speech is a song from the Disney animated movie, Frozen.” —Dartmouth University commencement speech 2018
- On dreaming of success: “I don’t remember lying up at night thinking, the dream I have is something where no one who looks like me has ever succeeded. I just thought that I would somehow find a way to succeed.” —The New York Times Magazine
- On possible paths forward: “Don’t trust any one story of how to become successful.” —Dartmouth University commencement speech 2018
- On writing your own part: “Write your own part. It is the only way I’ve gotten anywhere. It is much harder work, but sometimes you have to take destiny into your own hands. It forces you to think about what your strengths really are, and once you find them, you can showcase them, and no one can stop you.” ―Is Everyone Hanging Out Without Me? (And Other Concerns) by Mindy Kaling
- On not letting people stop you: “People get scared when you try to do something, especially when it looks like you’re succeeding. People do not get scared when you’re failing. It calms them. But when you’re winning, it makes them feel like they’re losing or, worse yet, that maybe they should've tried to do something too, but now it’s too late. And since they didn’t, they want to stop you. You can’t let them.” —Why Not Me? by Mindy Kaling
- On the stigma of being a “diversity hire”: “It used to really embarrass me because I thought I had the scarlet letter on me. ‘Diversity hire’ inherently meant, ‘less talented but fulfilling that quota.’... [I used to think that] if you’re funny, it’s funny and you’ll get noticed. But that isn’t true. If you don’t know the right people to get into the rooms, you will just never be seen. I love talking about it in the movie because it’s really real, and the stigma’s really real, and it truly is a helpful thing. It helped me personally… I really admire NBC for doing that program. I think if more people like me who are successful after coming through something like that talk about how the experience helped them, then there will be less of a stigma to it.” —Deadline
- On the fear of being replaced: “It terrified me that they were interviewing another person of color or another woman because I’d be like, ‘Okay I’m going to get fired’ because you only needed one. I had a lot of growing up to do in terms of not operating from a fear of getting replaced.” —Time Magazine
- On hard work: “Work hard, know your shit, show your shit, and then feel entitled. Listen to no one except the two smartest and kindest adults you know, and that doesn’t always mean your parents. If you do that, you will be fine.” —Why Not Me? by Mindy Kaling
- On confidence: “People talk about confidence without ever bringing up hard work. That’s a mistake. I know I sound like some dour older spinster on Downton Abbey who has never felt a man’s touch and whose heart has turned to stone, but I don’t understand how you could have self-confidence if you don’t do the work… Because confidence is like respect; you have to earn it.” —Why Not Me? by Mindy Kaling
- On imposter syndrome: “I don’t feel imposter syndrome and the reason I don’t is that I work so hard. I feel imposter syndrome happens when people feel unqualified for their jobs. Before I got my own show, I put in eight years at The Office. I wrote 24 episodes of TV. I was an executive producer at the end of it and I’d been a staff writer at the beginning. Then I did my show for six years, did 117 episodes. I feel like I’m a real A-student. I feel like I really prepare for my work. Again, it’s not all successes. A lot of times I failed, but I do feel qualified when I move up the ranks, like, ‘OK, I put in my time. I put in my, whatever it is, 10,000 hours. I feel qualified to do this next thing.’” —E!
- On the myth of being “bad with names”: “I don’t think it should be socially acceptable for people to say they are ’bad with names.’ No one is bad with names. That is not a real thing. Not knowing people’s names isn’t a neurological condition; it’s a choice. You choose not to make learning people’s names a priority. It’s like saying, ‘Hey, a disclaimer about me: I’m rude.’” ―Is Everyone Hanging Out Without Me? (And Other Concerns) by Mindy Kaling
- On not hiding the effort: “It’s really refreshing to work with women who don’t have to conceal how hard they work. I think the process, the work, used to be seen as something you hide, because everyone puts a premium on being so effortless… I think that’s one of the nicest changes in the last five years: Women don’t have to be these alluring, mysterious cats who get things done and you don’t know how hard they work, how hard they work out, what they’re eating. We now celebrate the fact that women can say, ‘Yeah, I sacrificed this, I have to do this….’ It isn’t effortless.” —Glamour
- On losing your temper: “It took me a long time to realize that when you’re 24 and are losing your temper, it’s sort of adorable because you have to give up. You don’t have any power. But if you’re the boss and lose your temper, you’re just a tyrant. I still can have a short fuse, but I deal with it in a different way.” —The New York Times Magazine
- On being kind: “The best advice I ever got is probably from [The Office creator] Greg Daniels. One piece of advice he gave me, which seems very simple but is very hard to follow all the time, is ‘Be kind.’ If you’re in a room with, a bunch of sardonic, East Coast-educated impatient writers, it’s very hard to show kindness. And I think that especially graduating from comedy writer to running a show where, like, I’m a manager, I can be sued for, like, human resources issues—that’s not something that I came into this doing—so like being kind to people, and listening to people tell you about their families, and their lives.” —AOL talk
- On her evolution: “I think in my twenties I was only focused on, OK, I don’t want to get fired. I want to be successful, and I was only thinking about myself. In no way was I thinking about things that are the most important to me now, which is my health, holding the door open behind me for other people.” —Marie Claire
- On being successful: “Part of being successful is that you start to spend your career with people who are way more successful than you. It’s a blessing, because I get to learn from them.” —Glamour
- On mentorship: “When you’re a woman and a woman of color who is also an employer, you can’t just be someone who employs people. You also have to be a mentor. It’s sort of your responsibility because there are so few of us.” —The New York Times Magazine
- On opening doors for others: “Especially during these new shows, I realized that the only way that people will have these kinds of opportunities—there’s literally been so little change for women of color—is if people like me make a difference. So it’s just the fact of the matter. We have to be the ones to open the doors for other people.” —Deadline
- On deciding to become a mother: “I think that it’s hard when you have a career that you really love to find the exact right time to have a baby. I think if you wanna be a mother, that’s a great decision. If you don’t, that’s also a great decision. For me, it was a wonderful thing to have done before I turn 40. I recommend it to people who also love their careers.” —The View
- On reprioritizing: “Having a daughter made me realize that, as much as I love my career and I really value and take pride in my work ethic and I’m constantly talking about it, I had to reprioritize the way that I worked and honestly start sacrificing things professionally so that I could be a good mom, which is something I was not used to at all.” —E!
- On self-care: “It’s funny, that’s a term that maybe three to five years ago—I don’t know if this is because I’m Asian or because I’ve worked since I was 15-years-old—used to have pejorative connotations for me. Like, ‘who has time for self-care? I’m trying to build an empire and be a single mom.’ I think it was during the pandemic, when I was working from home and my children were at home, I decided that was an outdated way of thinking.” —Forbes
- On running: “I’m always so self-conscious talking about how much I love running because I don’t look like someone who’s athletic or anything. But it has really helped me...It just focuses me and makes me a better writer. I think I’m a friendlier person, a more patient mom.” —Marie Claire
- On hubris: “I think luxuriating and thinking that you feel successful feels like a little bit of hubris. And in comedy, the minute a character starts thinking they’re celebrated is the minute when something terrible happens to them.” —Deadline
- On what she wants her legacy to be: “I’ve always felt that I represent the underdog. At this time and this place, as an Indian woman and a single mom, I’ve felt like the kind of person who often does not get to be the lead of a story. I want the stories that I tell, the characters I play and create, to resonate with people who do not see themselves onscreen. When I’m gone and people look at my body of work, they can see it in the context of where I came from and where my family came from and say, ‘Wow, that was the beginning of a ripple effect.’ That people are inspired because they felt that I, in some way, helped move the door open a couple more inches. That would be really incredible to me.” —Glamour
Feature | 10/09/2017
ARTICLE- WHY YOU SHOULD CHOOSE A CAREER IN SALES
"Brian Tracy describes sales as the "ultimate default career." By that, he means that many people get into sales because they can't find any other job that pays them what they need. Some of the top sales professionals in the world will admit that they had no intention of getting into or staying in the sales industries, yet most wouldn't change their decision to stay. But while sales may be a default occupation, there are several reasons why you should choose a career in sales instead of being a salesperson until something else opens up." - Thomas Phelps
Click here to read the rest of the article.
Feature | 04/15/2021
STUDENT COUNCIL PRESIDENT ABEL LIU NAMED AS UVA’S LATEST TRUMAN SCHOLAR
Feature | 09/16/2021
ECO Article: Career Advice for College Students: 5 Tips to Build a Strong Foundation
by Lucy Manole | September 08, 2021 from Vault
College years are all about that hustle and bustle. From attending classes and parties to tackling exams and social life, there’s little spare time on your hands.
Even so, college years are crucial for career building. It’s the right time to not just think about your career aspirations but also to take action. In this post, we share some actionable advice and experience-backed tips to build a solid base for your career. Let’s dive in.
Find your true passion.
What you’re studying in college may interest you, but is it your true passion? Say, you’re majoring in computer science—do you see yourself building a lifelong career in that field?
Don’t disregard the cliché quote, “If you do what you love, you'll never work a day in your life” just because you’re tired of hearing it. Picking a career path is a long-term decision, and college years are the perfect time to ponder what profession floats your boat. Whatever you pick as your career, aim to be better than the best in your field. And that’s only possible if you’re truly passionate about what you do, as doing what you love means you’re motivated to give your best each day.
So, strive to find your true passion. Think about the subjects you love in your major and excel at. Think about luminaries you admire. Many college graduates ultimately end up doing something completely different from what they studied, and that’s okay. It’s all about finding and doing what you love, and the money will eventually follow.
Proactively seek opportunities.
College is a time for fun, but also a time to gain some valuable, hands-on experience in your field. One of the most important and effective ways to do that is by getting internships.
Internships allow you to try out different fields you’re interested in. You get to learn new skills and gain real-world exposure without the pressure and commitment that comes with a full-time job. You might even get paid! Professional experience—even if it’s unrelated to the career you ultimately land in—will better prepare you for the real world and narrow down what you love. Besides, getting a foot in the door while you’re still in college will make the eventual job hunt a bit less stressful.
Volunteering is another great way to gain valuable experience and show future employers that you’re serious about the things that matter to you. And to find internship and volunteering opportunities, you need to...
Build your network.
To a large extent, it’s true that “your network is your net worth” (this is the title of a book by Porter Gale). Your college days are ideal to start sowing the seeds of professional relationships that:
- In the short term, help you land internships and freelance work.
- In the long run, help you land job offers and business opportunities.
There are plenty of ways to start building your professional network:
- Start with your professors, peers, and family. Ask them to let you know if they come across any opportunities in your areas of interest.
- Get (and keep) in touch with your college alumni to learn about internship opportunities at their companies.
- Use social media platforms, particularly Twitter and LinkedIn, to post your college learning experiences, connect with professionals in your field, join networking groups, and look for opportunities.
- Attend career fairs and similar events to get in front of potential employers.
Learn financial prudence.
You may not be earning just yet, but the earlier you learn the basics of building wealth, the better.
Whether or not you have a source of income, the first step to financial prudence is making a habit to spend wisely. Of course, the occasional indulgence is fine, but avoid impulse shopping or spending on things you don’t really need. After all, money saved is money earned, and that money can help you better manage your monthly college expenses and debt.
Oh, and if you have spare funds, learn how you can start investing. You can also consider P2P lending or, if you’re feeling a bit adventurous, crypto trading.
Start a creative side hustle.
While tackling college academic work is often a tall order in itself, carving out time for a creative side hustle is almost always possible and potentially very rewarding.
So if you have an entrepreneurial drive to start something of your own—be it a blog, a simple online store, a YouTube channel, etc.—do it. Don’t put it off and binge-watch Netflix instead. Starting your side venture during college gives you an amazing head start, and who knows what good things it might lead you to.
Freelancing in your free time isn’t a bad idea either. Love web design, coding, or writing and are good at it? Why not leverage and hone your skills by taking on real-world projects, while getting paid for your work? Not to mention freelancing will also help in your network- and resume-building efforts, and (at least to some extent) finance your college expenses.
Like it or not, college time flies fast. Before you know it, you’re reminiscing about your college days—wanting to relive fond memories but being grateful for not having the stress of exams and assignment deadlines—while worrying about some project’s deadline at work.
Make the most of this time. In the long run, your college grades may not matter much, but how you spend your college years matters a lot.
Feature | 02/17/2023
Best Companies to Work for for Professional Development
One way to guarantee career growth: Never stop learning. In fact, a recent study shows that a whopping 96% of respondents said it’s important or very important for them to continuously develop their work-related skills, with the top driver being personal growth. But it’s one thing to educate yourself, and quite another to have the full support of your company behind you. (In the same survey, 58% of workers said they are likely to leave their company if they don’t have access to professional development opportunities.) Thanks to perks like tuition reimbursement and free trainings, the companies below have made learning a celebrated part of their culture.
Professional development is just one of the seven perk and benefits categories we highlight in the 2022 VIBE Awards. “VIBE” stands for “voted in by employees.” As the name suggests, our methodology combined our own data as well as votes from employees, who ranked the strength of their company’s perks and benefits. Each category includes winners and honorable mentions for small (up to 250 employees), medium (251 to 5,000), and large (more than 5,000) companies.
Employees at Good Apple, a winner among the small companies, celebrate the company’s dedication to internal mobility and opportunities to attend conferences and receive training from professional coaches. “I’ve been at Good Apple for six months and have already done more in my team here than I did in the last two years at my previous agency,” says one employee. “I’m grateful to the company for helping me continue to grow in my career.”
A medium-sized company winner, Brilliant Earth, offers a variety of ways for team members to learn and grow. “I’ve taken countless courses on LinkedIn Learning and Coursera, many focused on diversity, inclusion, and belonging, as well as excel, data analysis, and talent acquisition,” says an employee. “I’ve also participated in a few cohorts with LifeLabs Learning, which have allowed me to improve my leadership, time management, organizational, and collaboration skills tremendously.”
And at Boston Consulting Group, which earned one of the top spots for large companies, new hires feel supported the minute they join the company. “From day one, BCG connected me with mentors and resources to make sure that I’m always learning and advancing in the exact direction I want my career to go,” says one respondent.
Read on for the full list of winners in the professional development category.
Who they are: This independent ad agency that works with clients in a range of industries, from fashion to healthcare.
What employees are saying: “Good Apple encourages us to attend industry conferences in person and virtually. They also provide coaching and pay for us to get certifications in all necessary platforms and study on company time.”
Read more about Good Apple’s award-winning perks and benefits.
Who they are: Intradiem develops AI-powered technology that allows back-end offices and contact centers handling customer service issues to work more efficiently.
What employees are saying: “Leadership is always asking what I want in my own career progression and what they can do to ensure I have the tools needed. They aren’t just empty words since I know many people, including myself, have been internally promoted or made lateral moves into another department to pursue a different path.”
Read more about Intradiem’s award-winning perks and benefits.
Who they are: This fintech company offers a platform that businesses and consumers can use to streamline digital lending and payments.
What employees are saying: “Opportunity at Momnt is here for the taking. My career has grown exponentially since joining the company.”
Read more about Momnt’s award-winning perks and benefits.
Honorable Mention: GameChanger
Read more about GameChanger’s award-winning perks and benefits.
Honorable Mention: Promenade Group
Read more about Promenade Group’s award-winning perks and benefits.
Who they are: Brilliant Earth sells jewelry made with ethically sourced diamonds and other gemstones.
What employees are saying: “I have utilized our tuition reimbursement program to take a negotiation course as well as earn my diversity leadership certification, which helped me found and lead our Diversity, Inclusion, and Belonging Council. Our internal training teams have created a vast amount of content related to leadership development, general business skills, and interesting industry-specific topics.”
Read more about Brilliant Earth’s award-winning perks and benefits.
Who they are: The healthtech company is focused on accelerating cancer research and improving patient care.
What employees are saying: “I have used the generous external learning allowance to attend conferences and purchase materials that are relevant to my work and professional development. ‘Learn, Teach, Grow’ days provide dedicated time to devote to professional development activities.”
Read more about Flatiron Health’s award-winning perks and benefits.
Who they are: This software company provides supply chain planning solutions to industries ranging from aerospace to consumer products.
What employees are saying: “We have a generous professional development budget that I’ve used to take courses and attend conferences. We also have a company-wide LinkedIn Learning subscription that I use when I need to quickly brush up on topics for my daily work. Both options help me stay current in my industry and grow as a people manager.”
Read more about Kinaxis’ award-winning perks and benefits.
Honorable Mention: Dolby
Read more about Dolby’s award-winning perks and benefits.
Honorable Mention: DTCC
Read more about DTCC’s award-winning perks and benefits.
Boston Consulting Group
Who they are: This global consulting firm works alongside other businesses to help solve real-world problems.
What employees are saying: “BCG has learning and development coaches available at any time. Whether it’s a personal question, a one-time professional issue, or longer-term career development planning, there is a wealth of expertise and resources to lean on. Additionally, we have one of the most comprehensive online learning platforms as well as regular trainings, mentorship programs, and consistent feedback and evaluation so that you are able to grow quickly in your career.”
Read more about Boston Consulting Group’s award-winning perks and benefits.
Who they are: Chick-fil-A is one of the largest American fast-food chains and is known for its chicken sandwiches.
What employees are saying: “There are so many development opportunities available with Chick-fil-A, it could nearly be a part-time job. In-house offerings are available to employees, and there’s a stipend to gain additional development so we can meet personal professional goals. In addition, there is a true open-door policy when it comes to connecting with others across the organization, including executives and those in the C-suite.”
Read more about Chick-fil-A’s award-winning perks and benefits.
Palo Alto Networks
Who they are: This cybersecurity company provides cutting-edge defense against cyber attacks.
What employees are saying: “We have so many options for development. In the past year, I’ve been able to hear from leaders in everything from leadership to mental health, attended a Marketing Learning Day, and was funded to attend an industry conference. All of these have reinvigorated my passion for the job, given me new tools, and made me feel valued.”
Read more about Palo Alto Networks’ award-winning perks and benefits.
Honorable Mention: Signify
Read more about Signify’s award-winning perks and benefits.
Honorable Mention: Visa
Feature | 11/01/2016
ECO NEWSLETTER 11.1.16
Opportunities off the Beaten Path
Feature | 08/22/2016
Maintaining Connections through Your Internship
See tips on how to maintain the professional connections you make through your internship.
Feature | 05/30/2017
ARTICLE - TOP 10 JOBS FOR ECONOMICS MAJORS
"If you're the analytical type, fascinated by the world around you, then an economics major might be a good choice for you. A degree in economics can be used in many areas, including public policy and finance. You can use an economics degree to study industry trends, labor markets, the prospects for individual companies, and the forces that drive the economy.
Economics majors learn to gather, organize, and interpret data, using mathematical formulas and statistics to make calculations. They also create models to predict the impact of investments, policy decisions, industry trends, demographics, climate change and much more."-Mike Profita
Click here to read the rest of the article.
Feature | 02/16/2017
ECO NEWSLETTER 2.16.17
Meet Alumni Next Week!
Feature | 10/17/2016
From Vault: Prestigious Internships
"Today, Vault released its annual ranking of the 50 Most Prestigious Internships. This year, the ranking was based on a survey of more than 11,000 interns and former interns at more than 100 firms. Our survey asked interns to rate the prestige of other employers in order to determine which internships are the most desirable." (Derek Loosvelt)
Feature | 01/09/2023
AEA Distinguished Economic Education Award presented to Charles Holt
The AEA Distinguished Education Award acknowledges excellence in economic education at a national level. Recipients are able to demonstrate a sustained and impactful contribution to several areas of economic education. These areas include teaching, the development of curriculum and pedagogy, scholarship of teaching and learning (SoTL) of economics, mentoring of students and young faculty, and service at the institution, regional, and state level.
Charlie is one of the outstanding teachers of the University of Virginia Economics Department. His undergraduate class in Experimental Economics is always oversubscribed by a factor of two. His experimental lab in the basement of Monroe Hall involves additional students in the production of economic knowledge and has become an academic hangout for our most talented students, both graduate and undergraduate. Charlie treats his students like colleagues, involving many in his research.
Beyond the grounds of the University of Virginia, in the broader sphere of experimental economists, Charlie is a star – in part because of the way his research has been applied in the classroom. Charlie’s publications influence not only the field but also the teaching of experimental economics – not to mention the real world of auction design. Charlie’s book, Markets, Games, and Strategic Behavior (Princeton Press) is a model of teaching state of the art material in a way that reflects crystal clear pedagogy.
Feature | 12/11/2018
Ben Hamilton Finds Conference Presentations Good Preparation for Job Market
On October 6, at the 74th Midwest International Trade Conference at Vanderbilt University, I presented my job market paper, “Learning, Externalities, and Export Dynamics,” in a 25-minute talk to an audience of economists studying international trade. In November, I presented my job market paper twice at different venues in Washington D.C. First, at the 88th Southern Economic Association annual meeting, where I received constructive feedback on a condensed 15-minute version of my talk from students and professors of varied concentrations. Next, at the second Mid-Atlantic International Trade Workshop, hosted by the Federal Reserve Board, I gave a longer, 40-minute version of my talk and benefited from helpful comments and discussion with other trade economists. Having the opportunity to present my talk in a variety of formats, receive questions from audiences unfamiliar with me and my work, and network with many people in my field was a valuable experience, particularly as I prepare to go on the job market during the next few months.
Feature | 02/13/2023
Flash Seminar with Prof. Kenneth Elzinga -"Anti-Trust Policies and Big Tech
Feature | 11/14/2017
ARTICLE - HOW TO TELL IF A JOB WILL BE A GOOD FIT
"Have you ever felt like a fish out of water at a job?
You don't fit in, you don't feel the vibe, and you know that these aren't your people. Whatever you do, you don't feel welcome, and you can't do anything right. Your co-workers don't understand you. You don't enjoy most of the work itself, and you struggle to figure out how to do things (or who to ask for help). You feel like you're just biding your time until you can get out, and you spend a lot of time planning your escape." -Natalie Fisher
Feature | 11/01/2021
Flash Seminar with Dr. Alex Tabarrok
Feature | 01/10/2017
Article - How to Improve Your Networking Skills in 2017
"You've heard it before: The best way to land a new job is through networking and making connections. But many people are stumped as to what that means and how it plays out in reality, unless you're lucky enough to have been offered positions throughout your career. What exactly does making those connections look like, and how should you approach it?
There are many ways to do it – in person, through social media, phone or by email. All are valid and can be useful in different ways. Nothing can replace interactions in person, but it will require follow up. Some of the ways to develop new connections are to join groups with similar interests (hobbies or social), reach out to alumni from your school or find shared connections on LinkedIn. Once you begin the process of connecting, make sure you're making them count." - Marcelle Yeager
Learn more here: http://money.usnews.com/money/blogs/outside-voices-careers/articles/2017-01-06/how-to-network-better-in-2017
Feature | 07/24/2019
Emily Cook Presents at IIOC, SOLE
In April 2019, Emily Cook presented “College Choice and Intended Major in the U.S.” at the International Industrial Organization Conference in Boston, MA. This paper studies how differentiation among universities in the number and type of undergraduate majors offered affects college choice.
In May 2019, Emily presented “Missed Exams and Lost Opportunities: Who Could Gain from Expanded College Admission Testing?” at the Society of Labor Economists conference in Arlington, VA. This paper is co-authored with Sarah Turner, University Professor of Economics and Education, Souder Family Professor, at the University of Virginia. The paper considers the potential outcomes of counterfactual college admission testing policies in Virginia.
Both conferences provided valuable presentation experience and feedback, and a chance to interact with researchers in many different areas of Labor Economics and Industrial Organization.
Feature | 09/25/2018
The Secret to Standing out in Interviews Is Almost Too Obvious
Impressing a stranger, standing out from the competition, earning an offer—these are all challenges, even for an experienced professional who should be a perfect fit.
Because the higher up you climb on the ladder, the more you’re competing against candidates with similar impressive experiences and qualifications.
As a CEO and interviewer for many years, I’ve met so many great people I ended up passing on.
So, your next question is probably, “Well, then how do I stand out?”
Here’s the big secret that has nothing to do with your resume bullet points: Your strongest selling point, your best competitive edge, is yourself. Truly—no one can copy that.
How do you show who you are over the course of a job interview? Try the following approaches:
1. Knock “Tell Me About Yourself” Out of the Park
I ask this question at the beginning of every interview (and so do many, many other people in charge of hiring). Luckily for you, the typical response is generic and long—meaning you have the opportunity here to make yourself memorable.
Consider and practice your response before entering the room. Think of it like a book’s back-cover synopsis: You’re trying to excite and encourage the interviewer. You want her to want to learn more about you—aim to make him or her curious. (Bonus: Include something that isn’t on your resume because the element of surprise can spark additional curiosity.)
If you’re not specifically asked “Tell me about yourself” during the interview, be proactive and find a way to share your answer during the conversation.
Continue here: https://www.themuse.com/advice/this-secret-to-standing-out-in-interviews...
Feature | 07/05/2022
Employers Ranking High in Diversity Recruiting, Forbes
Meet America’s Best Employers For Diversity 2022
I cover stories at the intersection of business and race
Apr 26, 2022,09:45am EDT
Over the past two years, the focus on racial disparities has put a spotlight on several industries. The impact of Covid-19 on the lives and livelihoods of Black families has raised questions about healthcare equity. The economic fallout for Black workers and Black-owned businesses has once again illustrated the need for financial inclusion and access to capital. Meanwhile, remote learning has turned attention to the disparities in resources and academic outcomes for students in underserved communities.
So perhaps it’s no surprise that those sectors have been laggards in embracing the importance of racial diversity in serving the underserved. However, the devastating impact of Covid-19, combined with heightened attention to racial inequities following the murder of George Floyd in May 2020, appears to be having some impact. Although far from sufficient, those sectors made the greatest gains in addressing one of the key factors in advancing representation in Forbes’ 2022 list of America’s Best Employers for Diversity.
This year’s list features a higher proportion of companies in banking and financial services, the healthcare and social sector, and education. Each sector increased its presence on the 500-company list, with each making up 8% of the list versus 6% last year.
“The impact of Covid-19 took the world by storm and revealed the magnitude of inequalities that exist in communities of color, especially Black- and minority-owned businesses,” John Patton, head of U.S. diversity and inclusion at TD Bank, told Forbes in an email. “To stay on track and continue on our path to diversify talent across the organization, we’ve enhanced our focus on diversity and inclusion and we report on our progress annually as part of our Environment, Social and Governance Reporting suite.”
This commitment helped earn TD Bank No. 9 on our fifth annual list of America’s Best Employers for Diversity. Forbes partnered with market research firm Statista to survey 60,000 Americans working for businesses with at least 1,000 employees and pinpoint the companies they identified as most dedicated to diversity, equity and inclusion. Respondents were asked to rate their organizations on criteria such as age, gender, ethnicity, disability and sexual orientation equality, as well as that of general diversity. More than 10,000 companies were reviewed and roughly 2,000 were given a diversity score, which takes into account surveys of a firm’s diverse employees and its publicly disclosed information about representation.
Statista found that some of the best-performing companies on the list have tangible action plans and initiatives aimed at providing support and representation for diverse employees. That includes initiatives such as leadership programs that target underrepresented groups and women. According to Statista, 16% of researched companies had women CEOs, and 31% had executive leadership and board positions filled by women. More than 55% had an executive leadership position with the explicit task of promoting diversity and inclusion.
Despite the progress companies have reported in increasing diversity, much work remains. A case in point is ChristianaCare in Newark, Delaware, which set a goal in July 2020 to grow the number of people of color in leadership roles there by 15% in three years.
Caregivers from ChristianaCare's Pride Employee Resource Group and Inclusion & Diversity department celebrated Pride Month with a special flag-raising ceremony on ChristianaCare campuses to symbolize the organization's commitment to diversity and inclusion of the LGBTQIA+ community.
Ranked at No. 40 on the list, the company is on track, growing to 46 from 41 since July 2020, a 12% increase. However, the percentage of non-white employees ranked at or above director level actually got smaller, from 15.9% that summer to 14.7% today. In other words, the growth rate for managers of color was slower than that of the overall pool.
“I saw this 12% increase, and I got excited. And then I saw that the overall percentage went down, and I stopped being excited,” says Pamela Ridgeway, the chief diversity officer and vice president of talent at the 13,000-employee healthcare system. She says she’s encouraged, though, and that experience taught her to celebrate wins and set new targets.
The healthcare industry is under pressure to improve DEI-related outcomes given some of its glaring racial disparities in health outcomes, such as higher death rates for Black women in maternal care. The mandate for many DEI healthcare leaders has included lowering racial disparities within employee and patient populations, and the belief is that the former can help with the latter.
“We are bad to Black patients, and we’re bad to Latino patients,” says José Rodríguez, associate vice president for health equity, diversity and inclusion at the University of Utah Health system, referring generally to outcomes in the healthcare industry. The Rocky Mountain-based healthcare system ranked No. 41. “However, there’s emerging data that shows when you have more Black providers, the health outcomes for your Black patients go up. And the same is true for your Latino population. So we’re working to end disparities.”
Progressive Insurance and technology company VMware ranked first and second, respectively, on the list this year, up last year from No. 20 for Progressive and No. 11 for VMware. Progressive’s DEI related efforts include a “Dare to Disagree” diversity workshop, while VMware has won acclaim for its efforts around disability inclusion.
Adobe, which ranked No. 6, has a number of efforts underway, including partnerships with historically Black Colleges and Universities and Hispanic-serving Institutions, and the Equity and Advancement Initiative. The latter initiative involves collaborating with 11 nonprofit organizations and is designed in part to foster discussions around issues of importance to diverse populations, such as voter rights.
“We really want to make sure we create an ecosystem outside of Adobe that enables us to see around corners,” says Brian Miller, chief talent, diversity and inclusion officer at Adobe. “So where companies can get very reactive … we wanted to start creating organizations that allow us to get in front of that conversation and then tie them to our employee networks.”
For the full list of America’s Best Employers For Diversity, click here.
To determine the list, Statista surveyed 60,000 Americans working for businesses with at least 1,000 employees. All the surveys were anonymous, allowing participants to openly share their opinions. Respondents were first asked to rate their organizations on criteria such as age, gender, ethnicity, disability and sexual orientation equality, as well as that of general diversity. These responses were reviewed for potential diversity gaps. Statista then asked respondents belonging to underrepresented groups to nominate organizations other than their own. The final list ranks the 500 employers that not only received the most recommendations but also boast the most diverse boards and executive ranks and the most proactive diversity and inclusion initiatives. The survey period ran from September to October 2021.
Feature | 05/23/2022
Yooseon Hwang presents at European UEA Conference
In April 2022, fifth-year student Yooseon Hwang presented her paper,"The Welfare Effects of Congestion Pricing," at the European Urban Economics Association Conference in London. The paper estimates the effects of congestion pricing on welfare by developing a quantitative spatial model with endogenous commuting costs.
Feature | 03/28/2022
ECO Article: How to Close the Networking Gap from The Wall Street Journal
How to Close the Networking Gap
The Wall Street Journal
March 17, 2022
By Ben Wildavsky
Ben Wildavsky is a visiting scholar at UVA's School of Education.
When Mark Granovetter was a Ph.D. student in the late 1960s, studying how white-collar men find new jobs, he zeroed in on social networks. When he asked interview subjects whether the person who told them about their current job was a friend, he repeatedly ran into the same answer. “Over and over again, they would correct me and say ‘No, no, he’s only an acquaintance,’” says Dr. Granovetter, now a professor of sociology at Stanford.
The idea, he explained in his classic 1973 article “The Strength of Weak Ties,” is that a job seeker’s close friends usually know the same people and can only share already familiar information. From acquaintances, by contrast, “you’re going to get new information, new ideas, new ways of thinking,” he says.
Nearly 50 years later, with a healthy assist from the force-multiplier of digital technology, personal and professional networking shows every sign of thriving. But that’s not true across the board. Low-income Americans, racial minorities and first-generation college students frequently struggle. Even when they have checked all the career-readiness boxes by earning college degrees or other credentials, these job seekers typically navigate their careers with the fewest networking advantages.
As a result, according to a 2021 study of Florida State University graduates in the Journal of Applied Psychology, first-generation students have a harder time getting high-quality jobs than better-connected classmates with the same credentials. Having more “occupationally focused relationships” and help with resume-writing and interview skills provides a big boost compared with “job seekers of lower social class who lack such networks,” the authors wrote.
The strikingly insular nature of massively popular platforms like Facebook and LinkedIn doesn’t help. Those social networks “tend to simply amplify users’ offline networks and tendencies, rather than forging new, different or expanded networks,” wrote Julia Freeland Fisher, director of education at the Clayton Christensen Institute, in her 2018 book “Who You Know: Unlocking Innovations That Expand Students’ Networks.”
Several years ago, Meg Garlinghouse, LinkedIn’s vice president for social impact, began to notice that the people contacting her on LinkedIn seeking informational interviews were all advantaged white women with four-year college degrees. “They were kind of in my network,” she recalls. “I was like, ‘Oh, my God, I’m unintentionally helping the people who look just like me.’”LinkedIn’s own research shows that a member raised in a well-off ZIP Code is three times as likely to have a robust network, with many connections from a range of places. Members who graduated from well-known colleges and had a first job at a top company are twice as likely to have strong networks.
In a recent analysis of survey responses from 55,000 U.S. college students at 91 institutions, the National Survey of Student Engagement and Strada Education Network found that first-generation students were significantly less likely than their peers to have networked with alumni or professionals, discussed career interests with faculty, or interviewed someone in a career field that interests them.
Entrepreneurs have noticed the problem. In 2014, three undergraduates at Michigan Technology University, frustrated with how few recruiters from companies outside the Midwest came to their campus, took matters into their own hands. Determined to democratize access to information and opportunity, they launched Handshake, a platform for professional networking and graduate recruitment. Today the company serves 20 million students and young alumni from 1,400 educational institutions. It works with 650,000 companies, including all of the Fortune 500, providing services such as video interviews and online career fairs.
Along the way, the company has significantly expanded career networks for low-income students. Six years ago, about 20% of undergraduates using Handshake were recipients of Pell grants, well below the one-third or so of students nationally awarded the need-based federal financial assistance. Today the figure has grown to 32%, thanks to the company’s new partnerships with hundreds of community colleges and historically Black colleges. “For someone who doesn’t have a lot of connections,” says Handshake’s chief education strategy officer, Christine Cruzvergara, “This is a non-intimidating place where the barrier is lower for them to initiate a conversation.”
The next step is getting students from disadvantaged backgrounds launched into strong first jobs. That’s the mission of Chicago-based Braven, which works with a number of university partners across the country. Students in the program are coached in, among other things, forming networks and using referrals and informational interviews to secure internships and career-focused jobs.
As a student at Rutgers University-Newark, Andrej Gjorgiev signed up for Braven, a program that helps launch students into strong first jobs.
Andrej Gjorgiev, 24, signed up for Braven as a criminal justice and psychology major at Rutgers University-Newark. He learned how to seek the kind of connections he would have had trouble making on his own as the child of a construction worker and night-shift lab technician who emigrated from Macedonia a decade ago. “A lot of the time, if you don’t know people, it’s hard to get outside of just your family,” he said.
Yet for too many low-income college students, graduation still means underemployment. Farzana Chowdhury, whose parents run a newsstand in Brooklyn, emigrated to the U.S. from Bangladesh when she was 17. She graduated from Brooklyn College and considers her education well worth the time and money. But, she says. “Nobody preps you for interview skills. Nobody preps you for ‘Hey, after you graduate, start applying for internships, start looking into jobs, start going into LinkedIn.’”
She got that help as a participant in the social-capital-and-skills nonprofit COOP Careers, which works with recent graduates who may be employed in one or more part-time jobs but are seeking more lucrative employment with a promising career ladder. “Skills don’t necessarily protect you. Relationships are what protect you,” says Markus Ward, COOP’s managing director of development. The organization collaborates with a number of large public universities and with major employers such as Google and Microsoft.
As for networking giant LinkedIn, when it came to recognize that networks aren’t distributed equally, it began to take steps to close the gap. Ms. Garlinghouse helped to introduce the “Plus One Pledge,” which encourages LinkedIn members to do informational interviews with people outside their existing professional network, to be mentors and to introduce job seekers to friends or colleagues.
Even as these new tools develop and gain popularity, breaking into new networks remains challenging, especially for low-income students with modest inherited networks. For them to build successful careers, education and skills are necessary but not sufficient. They need social capital, too.
—Mr. Wildavsky, a visiting scholar at the University of Virginia School of Education and Human Development, is writing a book for Princeton University Press on education, social capital and career success.
Feature | 07/19/2019
Sarah Turner and PhD Candidate Emily Cook Publish Article on Effects of Universal College Testing
The study was referenced on June 25th in The Washington Post, Education Week, and The Atlanta Journal-Constitution; the abstract can be accessed using the following link: https://www.aera.net/Newsroom/Missed-Exams-and-Lost-Opportunities-Who-Could-Gain-from-Expanded-College-Admission-Testing
Feature | 02/22/2022
ECO Article: The Value of an MBA Degree from the WSJ
A Graduate Degree That Pays Off: The M.B.A.
A Wall Street Journal analysis of federal student loan data found 98% of programs leave students with manageable debt loads
The Columbia University campus in New York.
PHOTO: DESIREE RIOS FOR THE WALL STREET JOURNAL
By Patrick Thomas Follow and Andrea Fuller Follow
Oct. 27, 2021 5:30 am ET
Borrowing money to go back to graduate school can be a surefire way to get mired in student debt. But one master’s degree appears to pay off for many people who finance their education: the M.B.A.
At about 98% of universities that offer master’s of business administration programs, graduates typically made more money two years out of school than they had borrowed, a Wall Street Journal analysis of federal student loan data for nearly 600 programs found. That stands in contrast to law schools, where roughly 6% of programs had graduates with higher median earnings than debt in the same time frame.
Jenny Le and her husband, Quan Nguyen
PHOTO: JENNY LE
Jenny Le, 29, enrolled in 2018 at Columbia Business School, where total tuition and fees surpass $160,000 for the two-year M.B.A. She tapped savings and scholarships and borrowed $38,000 to attend, assuming she would take several years to pay down the debt after graduating. Thanks in part to a signing bonus she got with her new role as an associate in corporate strategy and development for Teachers Insurance and Annuity Association of America in New York, she cleared the debt in six months.
“I thought it would be worth it in the long run, but wasn’t sure about the short-term,” Ms. Le said of her degree. “I’ve seen so many others my age struggle with debt payment. It was a better investment than I was expecting.”
Many people who pursue their M.B.A. do it for the promise of a bigger payday, the ability to pivot to a new industry or launch themselves onto an executive path. The high sticker price for some programs, which can range from $100,000 to $250,000 or more once living expenses are factored in on top of tuition and fees, can turn off prospective students, as can the two-year career break required to go back to campus.
The federal government allows graduate students to take out a fixed amount of relatively low-interest loans. After that, students must turn to higher-interest Grad Plus loans, which have no cap. Thousands of M.B.A. students take out six-figure loans every year to help finance tuition, fees and living expenses. A small number of M.B.A. candidates at some elite schools rely more on private loans with lower interest rates. The debt figures the Journal examined don’t include private loans, and the salary data reflects only students who take out federal loans.
Many M.B.A. candidates have experience in the professional workforce, so the degree often boosts their existing career trajectory. Traditionally, some students have come from more affluent backgrounds and people who already work in finance or other high-paying sectors have tended to gravitate to the degree, which has made the pool of M.B.A. candidates a financially healthy group, though business schools say they have been trying to expand their pool of applicants.
PHOTO: JULIET LAWRENCE
When Juliet Lawrence, 37, graduated from the University of Michigan’s Ross School of Business with her M.B.A. in 2013, she decided not to immediately pay off her more than $108,000 in loans. She opted to put her higher salary and bonuses at Dow Inc. DOW -0.07% into her 401(k) and the stock market while making loan payments. Ms. Lawrence, now a senior finance manager at Dow, paid off the last of her debt in 2020.
“From a net worth perspective, you get more return from that than just straight paying off loans. There was no real rush,” Ms. Lawrence said of investing instead of wiping out loans quickly. “Your M.B.A. pays off, but where are you going to get more growth?”
Not everybody who attends a well-known school catapults into a new income bracket. Bradley Hoefer, 31, borrowed about $110,000 to get his M.B.A. from Tulane University’s Freeman School of Business in 2020; he already had about $85,000 in loans for his undergraduate degree. He estimates it could take him 20 years to pay down the debt.
Mr. Hoefer had hoped his M.B.A. would help him leave banking, the sector where he worked for five years, and enter the videogame industry. After a year of job hunting and working part-time to make ends meet, he recently took a full-time job at Citigroup Inc. C -0.44% in Buffalo, N.Y., with a remote start from Ormond Beach, Fla., where he currently resides. His salary of $60,000 a year is a modest increase over the salary he drew before graduate school.
“It was worth it for the experience,” Mr. Hoefer said. “I think there is a little false advertising with respect to some M.B.A.s. People expect to increase their salaries from $60,000 to $120,000.”
Paulo Goes, dean of Tulane’s business school, said the class of 2020 has had a particularly tough time because many companies stopped recruiting M.B.A. job seekers during the pandemic, which is reflected in graduates’ placement and salary.
A ratio above one means a typical student would graduate with more debt than income two years after graduation. A ratio below one means the typical graduate has income greater than debt.
|SCHOOL||MEDIAN DEBT||MEDIAN EARNINGS||DEBT-INCOME RATIO|
|Alabama A & M University||$46,348||$43,798||1.06|
|Albany State University||$34,750||$38,289||0.91|
|Albertus Magnus College||$41,000||$57,318||0.72|
|American InterContinental University||$35,281||$45,244||0.78|
|American International College||$33,000||$52,107||0.63|
|American Public University System||$33,178||$66,728||0.5|
|Appalachian State University||$26,005||$49,084||0.53|
|Arizona State University-Tempe||$50,795||$98,650||0.52|
|Arkansas State University-Main Campus||$30,749||$57,318||0.54|
|Azusa Pacific University||$39,000||$59,425||0.66|
|Baldwin Wallace University||$38,205||$86,129||0.44|
|Bay Path University||$29,176||$63,005||0.46|
|Boise State University||$30,750||$74,786||0.41|
|Bowling Green State University-Main Campus||$31,788||$79,688||0.4|
|Brigham Young University-Provo||$41,000||$119,642||0.34|
|CUNY Bernard M Baruch College||$40,956||$101,518||0.4|
|CUNY Brooklyn College||$18,899||$52,107||0.36|
|CUNY Graduate School and University Center||$20,000||$80,964||0.25|
|CUNY Lehman College||$17,000||$56,157||0.3|
|California Baptist University||$22,098||$73,075||0.3|
|California State Polytechnic University-Pomona||$37,948||$85,357||0.45|
|California State University-Bakersfield||$27,333||$71,015||0.39|
|California State University-Channel Islands||$30,750||$64,990||0.47|
|California State University-Chico||$27,133||$50,856||0.53|
|California State University-Dominguez Hills||$29,584||$69,338||0.43|
|California State University-East Bay||$33,635||$79,838||0.42|
|California State University-Fresno||$35,795||$90,049||0.4|
|California State University-Fullerton||$27,750||$80,779||0.34|
|California State University-Long Beach||$41,000||$67,660||0.61|
|California State University-Monterey Bay||$41,000||$79,389||0.52|
|California State University-Northridge||$31,963||$88,907||0.36|
|California State University-Sacramento||$35,381||$73,739||0.48|
|California State University-San Bernardino||$41,000||$72,214||0.57|
|California State University-San Marcos||$34,954||$74,576||0.47|
|California State University-Stanislaus||$30,200||$73,949||0.41|
|California University of Pennsylvania||$26,004||$48,139||0.54|
|Cardinal Stritch University||$41,000||$66,461||0.62|
|Carnegie Mellon University||$82,000||$133,383||0.62|
|Case Western Reserve University||$70,520||$85,860||0.82|
|Central Michigan University||$31,976||$65,180||0.49|
|Chadron State College||$20,988||$73,949||0.28|
|Chaminade University of Honolulu||$26,595||$56,415||0.47|
|Charleston Southern University||$33,500||$59,425||0.56|
|Christian Brothers University||$32,438||$76,460||0.42|
|Citadel Military College of South Carolina||$35,805||$82,123||0.44|
|City University of Seattle||$46,125||$74,200||0.62|
|Claremont Graduate University||$80,616||$61,020||1.32|
|Clarion University of Pennsylvania||$25,625||$72,796||0.35|
|Clayton State University||$41,000||$53,894||0.76|
|Cleveland State University||$37,309||$65,610||0.57|
|Coastal Carolina University||$25,500||$48,198||0.53|
|Colorado Christian University||$47,009||$66,541||0.71|
|Colorado State University-Fort Collins||$38,934||$80,301||0.49|
|Colorado State University-Global Campus||$39,541||$82,440||0.48|
|Colorado Technical University-Colorado Springs||$41,000||$47,957||0.86|
|Columbia Southern University||$32,433||$58,990||0.55|
|Columbia University in the City of New York||$61,349||$170,426||0.36|
|Columbus State University||$19,714||$51,106||0.39|
|Concordia University Texas||$40,224||$65,131||0.62|
|Concordia University-Saint Paul||$34,771||$75,795||0.46|
|Dallas Baptist University||$45,073||$67,324||0.67|
|Delaware Valley University||$30,167||$66,104||0.46|
|East Carolina University||$30,750||$64,493||0.48|
|East Tennessee State University||$26,953||$43,798||0.62|
|Eastern Illinois University||$20,500||$54,386||0.38|
|Eastern Michigan University||$51,250||$66,077||0.78|
|Eastern Nazarene College||$24,000||$57,318||0.42|
|Eastern New Mexico University-Main Campus||$29,772||$62,409||0.48|
|Eastern Washington University||$26,379||$53,358||0.49|
|Embry-Riddle Aeronautical University-Daytona Beach||$39,906||$75,047||0.53|
|Fairleigh Dickinson University-Metropolitan Campus||$30,750||$74,953||0.41|
|Florida Agricultural and Mechanical University||$39,238||$52,107||0.75|
|Florida Atlantic University||$41,000||$59,688||0.69|
|Florida Gulf Coast University||$30,765||$66,821||0.46|
|Florida Institute of Technology||$41,000||$75,787||0.54|
|Florida International University||$57,732||$67,685||0.85|
|Florida Southern College||$35,750||$61,020||0.59|
|Fort Hays State University||$31,765||$55,286||0.58|
|Frostburg State University||$23,875||$78,719||0.3|
|Full Sail University||$41,000||$42,905||0.96|
|George Fox University||$41,000||$75,518||0.54|
|George Mason University||$41,000||$105,585||0.39|
|George Washington University||$62,739||$114,046||0.55|
|Georgia Institute of Technology-Main Campus||$76,863||$127,034||0.61|
|Georgia Southern University||$20,500||$65,486||0.31|
|Golden Gate University-San Francisco||$46,000||$88,861||0.52|
|Governors State University||$32,015||$73,635||0.44|
|Grand Canyon University||$34,435||$64,265||0.54|
|Granite State College||$23,717||$53,775||0.44|
|Gwynedd Mercy University||$39,961||$58,402||0.68|
|Houston Baptist University||$40,384||$80,022||0.51|
|Hult International Business School||$78,837||$67,420||1.17|
|Idaho State University||$20,300||$61,516||0.33|
|Indiana State University||$26,040||$63,005||0.41|
|Indiana University of Pennsylvania-Main Campus||$29,841||$59,726||0.5|
|Indiana Wesleyan University-Marion||$49,187||$66,326||0.74|
|Iowa State University||$28,955||$70,680||0.41|
|Jackson State University||$20,500||$46,087||0.45|
|James Madison University||$32,719||$91,744||0.36|
|John Brown University||$24,772||$74,105||0.33|
|John Carroll University||$26,679||$58,402||0.46|
|Johns Hopkins University||$34,166||$106,421||0.32|
|Johnson & Wales University-Providence||$24,245||$50,677||0.48|
|Keiser University-Ft Lauderdale||$46,196||$39,653||1.17|
|Kennesaw State University||$41,000||$91,949||0.45|
|Kent State University at Kent||$41,000||$73,635||0.56|
|La Salle University||$31,300||$84,100||0.37|
|Lake Erie College||$23,922||$52,733||0.45|
|Lake Forest Graduate School of Management||$39,936||$113,168||0.35|
|Lawrence Technological University||$70,000||$89,968||0.78|
|Le Moyne College||$20,500||$56,776||0.36|
|Long Island University||$55,138||$60,623||0.91|
|Loyola University Chicago||$66,007||$87,470||0.76|
|Loyola University Maryland||$47,410||$92,188||0.51|
|Metropolitan College of New York||$39,006||$54,622||0.71|
|Metropolitan State University||$30,750||$65,131||0.47|
|Michigan State University||$51,250||$98,481||0.52|
|Mid-America Christian University||$41,000||$43,519||0.94|
|MidAmerica Nazarene University||$30,412||$61,218||0.5|
|Middle Tennessee State University||$34,155||$67,101||0.51|
|Mississippi State University||$20,000||$88,527||0.23|
|Mississippi Valley State University||$38,296||$33,993||1.13|
|Missouri Baptist University||$35,283||$53,358||0.66|
|Missouri State University-Springfield||$16,982||$58,402||0.29|
|Montclair State University||$41,000||$88,971||0.46|
|Morgan State University||$41,000||$51,750||0.79|
|Mount Mary University||$46,333||$69,338||0.67|
|Mount Mercy University||$34,439||$68,666||0.5|
|Mount Saint Mary College||$31,770||$52,941||0.6|
|Mount Saint Mary's University||$41,000||$67,660||0.61|
|Mount St. Mary's University||$28,516||$68,331||0.42|
|Mount Vernon Nazarene University||$39,904||$61,516||0.65|
|National American University-Rapid City||$39,207||$51,722||0.76|
|National Louis University||$41,000||$63,600||0.65|
|National University College||$13,900||$32,032||0.43|
|New England College of Business and Finance||$22,111||$69,338||0.32|
|New Jersey City University||$38,503||$63,749||0.6|
|New Jersey Institute of Technology||$35,250||$85,918||0.41|
|New Mexico Highlands University||$17,860||$54,192||0.33|
|New York University||$81,350||$145,543||0.56|
|Nicholls State University||$13,300||$56,641||0.24|
|North Carolina Central University||$57,746||$44,384||1.3|
|North Carolina State University at Raleigh||$37,014||$74,200||0.5|
|North Central College||$30,750||$62,260||0.49|
|North Park University||$27,900||$58,303||0.48|
|Northeastern State University||$24,659||$67,660||0.36|
|Northern Arizona University||$30,125||$65,042||0.46|
|Northern Illinois University||$30,750||$91,587||0.34|
|Northwest Missouri State University||$18,667||$51,197||0.37|
|Northwest Nazarene University||$32,740||$64,493||0.51|
|Notre Dame de Namur University||$51,250||$78,074||0.66|
|Nova Southeastern University||$50,395||$58,605||0.86|
|Ohio Christian University||$30,750||$51,482||0.6|
|Ohio Dominican University||$37,356||$62,260||0.6|
|Ohio State University-Main Campus||$49,189||$108,577||0.45|
|Ohio University-Main Campus||$37,666||$90,283||0.42|
|Oklahoma City University||$21,600||$76,083||0.28|
|Oklahoma Wesleyan University||$37,469||$66,077||0.57|
|Olivet Nazarene University||$29,160||$48,432||0.6|
|Oral Roberts University||$37,562||$53,608||0.7|
|Oregon State University||$34,166||$63,997||0.53|
|Our Lady of the Lake University||$39,955||$55,625||0.72|
|Palm Beach Atlantic University||$20,500||$60,689||0.34|
|Pennsylvania State University-Main Campus||$40,999||$94,864||0.43|
|Pittsburg State University||$18,194||$48,432||0.38|
|Plymouth State University||$46,000||$60,771||0.76|
|Point Loma Nazarene University||$37,576||$69,338||0.54|
|Point Park University||$35,087||$57,735||0.61|
|Portland State University||$41,000||$86,867||0.47|
|Prairie View A & M University||$36,119||$54,109||0.67|
|Presidio Graduate School||$59,662||$42,682||1.4|
|Purdue University-Main Campus||$42,475||$88,342||0.48|
|Queens University of Charlotte||$41,000||$86,867||0.47|
|Ramapo College of New Jersey||$41,000||$97,604||0.42|
|Robert Morris University||$37,583||$61,516||0.61|
|Robert Morris University Illinois||$28,000||$57,770||0.49|
|Rochester Institute of Technology||$41,000||$67,101||0.61|
|Roseman University of Health Sciences||$171,883||$94,408||1.82|
|Russell Sage College||$29,459||$59,124||0.5|
|Rutgers University-New Brunswick||$53,313||$109,327||0.49|
|SUNY College at Oswego||$26,128||$56,716||0.46|
|SUNY Empire State College||$51,250||$69,897||0.73|
|SUNY Maritime College||$41,000||$76,460||0.54|
|SUNY at Albany||$38,391||$74,576||0.52|
|Sacred Heart University||$35,000||$73,949||0.47|
|Saginaw Valley State University||$31,399||$57,318||0.55|
|Saint Ambrose University||$38,768||$78,657||0.49|
|Saint Cloud State University||$21,750||$75,204||0.29|
|Saint Edward's University||$45,802||$65,486||0.7|
|Saint John Fisher College||$28,437||$54,686||0.52|
|Saint Leo University||$46,125||$56,918||0.81|
|Saint Louis University||$41,000||$88,904||0.46|
|Saint Martin's University||$42,644||$58,221||0.73|
|Saint Mary's College of California||$45,825||$108,331||0.42|
|Saint Mary's University of Minnesota||$34,166||$72,469||0.47|
|Saint Mary-of-the-Woods College||$18,500||$52,107||0.36|
|Saint Xavier University||$46,784||$71,957||0.65|
|Salve Regina University||$17,420||$61,888||0.28|
|Sam Houston State University||$34,937||$68,858||0.51|
|San Diego State University||$40,998||$68,499||0.6|
|San Francisco State University||$29,677||$80,124||0.37|
|San Jose State University||$35,250||$87,973||0.4|
|Santa Clara University||$54,666||$128,588||0.43|
|Seton Hill University||$24,836||$51,169||0.49|
|Shippensburg University of Pennsylvania||$20,500||$65,066||0.32|
|Siena Heights University||$30,466||$60,771||0.5|
|Slippery Rock University of Pennsylvania||$20,500||$59,124||0.35|
|Sonoma State University||$38,979||$83,768||0.47|
|Southeastern Louisiana University||$19,867||$51,106||0.39|
|Southern Arkansas University Main Campus||$24,825||$58,402||0.43|
|Southern Connecticut State University||$36,366||$64,706||0.56|
|Southern Illinois University-Carbondale||$30,750||$54,809||0.56|
|Southern Illinois University-Edwardsville||$24,412||$56,931||0.43|
|Southern Methodist University||$111,000||$120,363||0.92|
|Southern Nazarene University||$39,100||$58,092||0.67|
|Southern New Hampshire University||$39,292||$69,218||0.57|
|Southern University and A & M College||$47,436||$49,344||0.96|
|Southern Wesleyan University||$29,050||$42,682||0.68|
|Southwest Minnesota State University||$21,763||$55,964||0.39|
|St Bonaventure University||$22,500||$54,401||0.41|
|St Catherine University||$53,143||$66,915||0.79|
|St John's University-New York||$47,825||$63,430||0.75|
|St. Joseph's College-New York||$34,600||$81,997||0.42|
|St. Thomas University||$36,500||$53,358||0.68|
|State University of New York at New Paltz||$20,500||$51,607||0.4|
|Stevens Institute of Technology||$38,500||$125,611||0.31|
|Stony Brook University||$30,949||$50,563||0.61|
|Strayer University-District of Columbia||$74,380||$56,911||1.31|
|Tarleton State University||$23,003||$60,013||0.38|
|Tennessee State University||$40,438||$54,463||0.74|
|Tennessee Technological University||$19,727||$62,579||0.32|
|Texas A & M International University||$21,995||$45,696||0.48|
|Texas A & M University-College Station||$39,749||$115,761||0.34|
|Texas A & M University-Commerce||$31,680||$68,688||0.46|
|Texas A & M University-Corpus Christi||$24,888||$57,318||0.43|
|Texas A & M University-Kingsville||$28,247||$57,526||0.49|
|Texas A&M University-Texarkana||$11,989||$62,012||0.19|
|Texas Christian University||$41,000||$97,663||0.42|
|Texas Southern University||$45,040||$52,941||0.85|
|Texas State University||$31,750||$68,965||0.46|
|Texas Tech University||$41,000||$75,706||0.54|
|Texas Woman's University||$28,748||$65,131||0.44|
|The College of Saint Rose||$34,952||$58,673||0.6|
|The College of Saint Scholastica||$32,383||$75,383||0.43|
|The New School||$65,598||$59,788||1.1|
|The University of Alabama||$39,932||$80,004||0.5|
|The University of Findlay||$26,013||$61,814||0.42|
|The University of Montana||$21,129||$58,673||0.36|
|The University of Tampa||$31,055||$59,253||0.52|
|The University of Tennessee-Chattanooga||$27,350||$76,041||0.36|
|The University of Tennessee-Knoxville||$39,250||$99,251||0.4|
|The University of Texas at Arlington||$37,188||$76,460||0.49|
|The University of Texas at Austin||$67,500||$131,707||0.51|
|The University of Texas at Dallas||$41,530||$94,674||0.44|
|The University of Texas at El Paso||$33,963||$52,420||0.65|
|The University of Texas at San Antonio||$35,572||$74,786||0.48|
|The University of Texas at Tyler||$31,530||$68,858||0.46|
|The University of West Florida||$30,637||$49,854||0.62|