Before landing your dream job, you may have to pay your dues. Statista found that 14 percent of U.S. workers are underemployed, or working in a position they’re overqualified for.
New grads especially have to be patient when it comes to starting a career. Many of us need to start at the bottom and work our way up.
It’s easy to get impatient if you’re an art history major spending your days as a dog walker. But even the most entry-level position can help you learn important life lessons.
5 lessons from your first job out of college
To find out more, I spoke with college graduates about their post-graduation jobs. Here are five lessons these grads learned from their first job out of college that helped them become the people they are today.
1. You have to be your No. 1 advocate
As a student, your path is pretty clear each year. Your school and professors let you know what’s expected of you. Although you’re responsible for choosing a major, you mostly have a clear structure to guide your actions.
But when you enter the workforce, you might not have much guidance for career development. Instead of looking to an authority for answers, you have to put yourself in charge of your professional destiny.
“My first job out of college was with a defense contractor, and I learned how I am now in complete control of my career,” said Jim Wang, now a personal finance blogger at Wallet Hacks. “I had to not only be my No. 1 advocate, but I had to find my own projects [and] plan my next move in the company.”
When you start working after college, you must be proactive about your career. So ask questions, seek a mentor, and take deliberate steps in the direction of your goals. “In the real world, you have to decide everything,” said Wang.
2. Your attitude will shape your experience
After graduating with her bachelor’s in English Writing, Sarah Donawerth took a job as a cashier at Michaels, an arts and crafts store. “I was preparing for grad school, I needed a steady source of income, and I couldn’t find anything [else],” said Donawerth.
But even though she was underemployed, she realized it was important to keep a positive attitude about her job.
“It was hard to summon the enthusiasm to help someone stock shelves, but I made sure that every day I went to my job with the attitude that I would do my best,” said Donawerth. “While others were grumbling that it was a stupid job and they were miserable, my mood stayed remarkably high.”
In the end, her optimism and hard work paid off. “I have happily hung up my red vest and am now the social media accounts manager at … an arts and crafts magazine publisher,” said Donawerth. “My experience at Michaels was one of the reasons they hired me. I had knowledge of their industry and the proven track record of hard work.”
Donawerth was able to leverage her experience into a position that better fit her skills and qualifications. Plus, her outlook made her experience a positive one.
3. Stay open to unexpected opportunities
Vincent Nero is now the VP general manager of Successories, but he had no job lined up after graduation. “In the midst of the recession with no job lined up, I got a call from my summer internship boss who was moving a business down to South Florida,” said Nero.
Despite his hesitation about moving, Nero accepted the position. “Was Florida on my radar? Did I want to move across country? Did I want to work for this company?” said Nero. “The answer to all those was no, but I said yes. It’s important to be open to new opportunities.”
Even though he wasn’t sure about the outcome, Nero decided every opportunity that came his way was a learning experience. And this openness paid off. “Eight years later, I’ve worked my way up to running [a] multi-million dollar company,” said Nero. “All because I said yes.”
Even if you can’t see it right away, there are lessons to be learned from your first job out of college. And by staying open, you could discover your next great role.
4. Learn the ins and outs of your company
Not everyone lands a job in their target field right after graduation. David Batchelor, co-founder of DialMyCalls, learned this the hard way. “My first job was working at the movie theater for $4 an hour,” Batchelor said.
Despite the measly pay, Batchelor learned important business lessons from this role. “There are a million companies who sell a million widgets and services,” said Batchelor. “[But] most of them fundamentally run the same way. So the earlier you start to see how the pieces of the puzzle fit together, the better off you’ll be.”
Batchelor has since used the business lessons he learned to co-found his own company. “I’d recommend everyone … to learn all the ins and outs of the company you’re working at,” said Batchelor. “The pay itself was nothing great but the experience I got at that job was priceless.”
Even if you’re not interested in business, your organization can teach you about how people come together to work toward a common goal. And this is a lesson you can carry with you into all future roles.
5. Keep on keeping on
Unless you’re extremely lucky, you’ll have to put in a lot of hard work before achieving your professional goals. Although it might not be easy, encountering obstacles is totally normal.
“When I graduated, I worked as a waiter to pay my bills,” said Zachary Painter, hiring manager at Resume Genius. “It was fun for a time, but I wasn’t really happy. [It] helped me realize that I wanted something long-term and professional; that’s when I buckled down and began freelance writing.”
Painter didn’t find immediate success as a writer. To support himself along the way, he picked up different side gigs. “I had a brief stint repairing leaks in pools; I worked as a shoe salesman; I worked in the kitchen of a country club,” said Painter. “But I made sure to keep writing.”
He now works as a writer, career adviser, and hiring manager. “It wasn’t easy getting here,” Painter said. As for the lessons he learned from this first job? “Success is granted to those who persevere.”
Use your first job out of college as a growth opportunity
The transition from college to the workforce isn’t always an easy one. You have to adapt to new environments, expectations, and colleagues. As a new grad, you probably have to start at the bottom of the totem pole.
But even the most sub-par job can teach you things. “Almost everyone has parts of their job that they love and parts they wish they never had to do again,” said Martha Schmitz, a senior adviser at Mentat.
By identifying which aspects of a job you love — and which ones you hate — you can clarify your career goals. “Even if your first job out of college isn’t exactly what you imagined for your career, it’s important to make the most out of the experience,” said Schmitz.
As you develop work experience, you’ll learn about your career decisions and how to reach them. Plus, you’ll learn how to market your skills for post-college jobs.
Interested in refinancing student loans?Here are the top 8 lenders of 2020!
|Lender||Variable APR||Eligible Degrees|
|Check out the testimonials and our in-depth reviews!
1 Important Disclosures for Earnest.
To qualify, you must be a U.S. citizen or possess a 10-year (non-conditional) Permanent Resident Card, reside in a state Earnest lends in, and satisfy our minimum eligibility criteria. You may find more information on loan eligibility here: https://www.earnest.com/eligibility. Not all applicants will be approved for a loan, and not all applicants will qualify for the lowest rate. Approval and interest rate depend on the review of a complete application.
Earnest fixed rate loan rates range from 3.20% APR (with Auto Pay) to 6.99% APR (with Auto Pay). Variable rate loan rates range from 1.99% APR (with Auto Pay) to 6.89% APR (with Auto Pay). For variable rate loans, although the interest rate will vary after you are approved, the interest rate will never exceed 8.95% for loan terms 10 years or less. For loan terms of 10 years to 15 years, the interest rate will never exceed 9.95%. For loan terms over 15 years, the interest rate will never exceed 11.95% (the maximum rates for these loans). Earnest variable interest rate loans are based on a publicly available index, the one month London Interbank Offered Rate (LIBOR). Your rate will be calculated each month by adding a margin between 1.82% and 5.50% to the one month LIBOR. The rate will not increase more than once per month. Earnest rate ranges are current as of December 13, 2019, and are subject to change based on market conditions and borrower eligibility.
Auto Pay discount: If you make monthly principal and interest payments by an automatic, monthly deduction from a savings or checking account, your rate will be reduced by one quarter of one percent (0.25%) for so long as you continue to make automatic, electronic monthly payments. This benefit is suspended during periods of deferment and forbearance.
The information provided on this page is updated as of 12/13/2019. Earnest reserves the right to change, pause, or terminate product offerings at any time without notice. Earnest loans are originated by Earnest Operations LLC. California Finance Lender License 6054788. NMLS # 1204917. Earnest Operations LLC is located at 302 2nd Street, Suite 401N, San Francisco, CA 94107. Terms and Conditions apply. Visit https://www.earnest.com/terms-of-service, email us at email@example.com, or call 888-601-2801 for more information on our student loan refinance product.
© 2018 Earnest LLC. All rights reserved. Earnest LLC and its subsidiaries, including Earnest Operations LLC, are not sponsored by or agencies of the United States of America.
2 Important Disclosures for SoFi.
3 Important Disclosures for Figure.
Figure’s Student Refinance Loan is a private loan. If you refinance federal loans, you forfeit certain flexible repayment options associated with those loans. If you expect to incur financial hardship that would impact your ability to repay, you should consider federal consolidation alternatives.
4 Important Disclosures for College Ave.
College Ave Disclosures
College Ave Student Loans products are made available through either Firstrust Bank, member FDIC or M.Y. Safra Bank, FSB, member FDIC. All loans are subject to individual approval and adherence to underwriting guidelines. Program restrictions, other terms, and conditions apply.
1College Ave Refi Education loans are not currently available to residents of Maine.
2All rates shown include autopay discount. The 0.25% auto-pay interest rate reduction applies as long as a valid bank account is designated for required monthly payments. Variable rates may increase after consummation.
3$5,000 is the minimum requirement to refinance. The maximum loan amount is $300,000 for those with medical, dental, pharmacy or veterinary doctorate degrees, and $150,000 for all other undergraduate or graduate degrees.
4This informational repayment example uses typical loan terms for a refi borrower with a Full Principal & Interest Repayment and a 10-year repayment term, has a $40,000 loan and a 5.5% Annual Percentage Rate (“APR”): 120 monthly payments of $434.11 while in the repayment period, for a total amount of payments of $52,092.61. Loans will never have a full principal and interest monthly payment of less than $50. Your actual rates and repayment terms may vary.
Information advertised valid as of 1/1/2020. Variable interest rates may increase after consummation.
5 Important Disclosures for Laurel Road.
Laurel Road Disclosures
Laurel Road is a brand of KeyBank National Association offering online lending products in all 50 U.S. states, Washington, D.C., and Puerto Rico. Mortgage lending is not offered in Puerto Rico. All loans are provided by KeyBank National Association.
ANNUAL PERCENTAGE RATE (“APR”)
There are no origination fees or prepayment penalties associated with the loan. Lender may assess a late fee if any part of a payment is not received within 15 days of the payment due date. Any late fee assessed shall not exceed 5% of the late payment or $28, whichever is less. A borrower may be charged $20 for any payment (including a check or an electronic payment) that is returned unpaid due to non-sufficient funds (NSF) or a closed account.
For bachelor’s degrees and higher, up to 100% of outstanding private and federal student loans (minimum $5,000) are eligible for refinancing. If you are refinancing greater than $300,000 in student loan debt, Lender may refinance the loans into 2 or more new loans.
ELIGIBILITY & ELIGIBLE LOANS
Borrower, and Co-signer if applicable, must be a U.S. Citizen or Permanent Resident with a valid I-551 card (which must show a minimum of 10 years between “Resident Since” date and “Card Expires” date or has no expiration date); state that they are of at least borrowing age in the state of residence at the time of application; and meet Lender underwriting criteria (including, for example, employment, debt-to-income, disposable income, and credit history requirements).
Graduates may refinance any unsubsidized or subsidized Federal or private student loan that was used exclusively for qualified higher education expenses (as defined in 26 USC Section 221) at an accredited U.S. undergraduate or graduate school. Any federal loans refinanced with Lender are private loans and do not have the same repayment options that federal loan program offers such as Income Based Repayment or Income Contingent Repayment.
All loans must be in grace or repayment status and cannot be in default. Borrower must have graduated or be enrolled in good standing in the final term preceding graduation from an accredited Title IV U.S. school and must be employed, or have an eligible offer of employment. Parents looking to refinance loans taken out on behalf of a child should refer to https://www.laurelroad.com/refinance-student-loans/refinance-parent-plus-loans/ for applicable terms and conditions.
For Associates Degrees: Only associates degrees earned in one of the following are eligible for refinancing: Cardiovascular Technologist (CVT); Dental Hygiene; Diagnostic Medical Sonography; EMT/Paramedics; Nuclear Technician; Nursing; Occupational Therapy Assistant; Pharmacy Technician; Physical Therapy Assistant; Radiation Therapy; Radiologic/MRI Technologist; Respiratory Therapy; or Surgical Technologist. To refinance an Associates degree, a borrower must also either be currently enrolled and in the final term of an associate degree program at a Title IV eligible school with an offer of employment in the same field in which they will receive an eligible associate degree OR have graduated from a school that is Title IV eligible with an eligible associate and have been employed, for a minimum of 12 months, in the same field of study of the associate degree earned.
The interest rate you are offered will depend on your credit profile, income, and total debt payments as well as your choice of fixed or variable and choice of term. For applicants who are currently medical or dental residents, your rate offer may also vary depending on whether you have secured employment for after residency.
The repayment of any refinanced student loan will commence (1) immediately after disbursement by us, or (2) after any grace or in-school deferment period, existing prior to refinancing and/or consolidation with us, has expired.
POSTPONING OR REDUCING PAYMENTS
After loan disbursement, if a borrower documents a qualifying economic hardship, we may agree in our discretion to allow for full or partial forbearance of payments for one or more 3-month time periods (not to exceed 12 months in the aggregate during the term of your loan), provided that we receive acceptable documentation (including updating documentation) of the nature and expected duration of the borrower’s economic hardship.
We may agree under certain circumstances to allow a borrower to make $100/month payments for a period of time immediately after loan disbursement if the borrower is employed full-time as an intern, resident, or similar postgraduate trainee at the time of loan disbursement. These payments may not be enough to cover all of the interest that accrues on the loan. Unpaid accrued interest will be added to your loan and monthly payments of principal and interest will begin when the post-graduate training program ends.
We may agree under certain circumstances to allow postponement (deferral) of monthly payments of principal and interest for a period of time immediately following loan disbursement (not to exceed 6 months after the borrower’s graduation with an eligible degree), if the borrower is an eligible student in the borrower’s final term at the time of loan disbursement or graduated less than 6 months before loan disbursement, and has accepted an offer of (or has already begun) full-time employment.
If Lender agrees (in its sole discretion) to postpone or reduce any monthly payment(s) for a period of time, interest on the loan will continue to accrue for each day principal is owed. Although the borrower might not be required to make payments during such a period, the borrower may continue to make payments during such a period. Making payments, or paying some of the interest, will reduce the total amount that will be required to be paid over the life of the loan. Interest not paid during any period when Lender has agreed to postpone or reduce any monthly payment will be added to the principal balance through capitalization (compounding) at the end of such a period, one month before the borrower is required to resume making regular monthly payments.
KEYBANK NATIONAL ASSOCIATION RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS AND BENEFITS AT ANY TIME WITHOUT NOTICE.
This information is current as of November 8, 2019 and is subject to change.
6 Important Disclosures for Splash Financial.
Splash Financial Disclosures
Terms and Conditions apply. Splash reserves the right to modify or discontinue products and benefits at any time without notice. Rates and terms are also subject to change at any time without notice. Offers are subject to credit approval. To qualify, a borrower must be a U.S. citizen or permanent resident in an eligible state and meet applicable underwriting requirements. Not all borrowers receive the lowest rate. Lowest rates are reserved for the highest qualified borrowers.
7 Important Disclosures for CommonBond.
Offered terms are subject to change. Loans are offered by CommonBond Lending, LLC (NMLS # 1175900). If you are approved for a loan, the interest rate offered will depend on your credit profile, your application, the loan term selected and will be within the ranges of rates shown. All Annual Percentage Rates (APRs) displayed assume borrowers enroll in auto pay and account for the 0.25% reduction in interest rate. All variable rates are based on a 1-month LIBOR assumption of 1.76% effective November 10, 2019.
8 Important Disclosures for LendKey.
Refinancing via LendKey.com is only available for applicants with qualified private education loans from an eligible institution. Loans that were used for exam preparation classes, including, but not limited to, loans for LSAT, MCAT, GMAT, and GRE preparation, are not eligible for refinancing with a lender via LendKey.com. If you currently have any of these exam preparation loans, you should not include them in an application to refinance your student loans on this website. Applicants must be either U.S. citizens or Permanent Residents in an eligible state to qualify for a loan. Certain membership requirements (including the opening of a share account and any applicable association fees in connection with membership) may apply in the event that an applicant wishes to accept a loan offer from a credit union lender. Lenders participating on LendKey.com reserve the right to modify or discontinue the products, terms, and benefits offered on this website at any time without notice. LendKey Technologies, Inc. is not affiliated with, nor does it endorse, any educational institution.
Subject to floor rate and may require the automatic payments be made from a checking or savings account with the lender. The rate reduction will be removed and the rate will be increased by 0.25% upon any cancellation or failed collection attempt of the automatic payment and will be suspended during any period of deferment or forbearance. As a result, during the forbearance or suspension period, and/or if the automatic payment is canceled, any increase will take the form of higher payments. The lowest advertised variable APR is only available for loan terms of 5 years and is reserved for applicants with FICO scores of at least 810.
As of 12/019/2019 student loan refinancing rates range from 1.90% to 8.59% Variable APR with AutoPay and 3.49% to 7.75% Fixed APR with AutoPay.
|1.99% – 6.89%1||Undergrad & Graduate|
|2.31% – 7.36%2||Undergrad & Graduate|
|2.06% – 6.81%3||Undergrad & Graduate|
|2.62% – 6.12%4||Undergrad & Graduate|
|1.99% – 6.65%5||Undergrad & Graduate|
|1.99% – 7.06%6||Undergrad & Graduate|
|1.85% – 6.13%7||Undergrad & Graduate|
|1.90% – 8.59%8||Undergrad & Graduate|