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Carnival of Personal Finance #362

This week’s Carnival of Personal Finance: the Less Junk Edition is hosted by James of Graduating with a Surplus.

His Editor’s Picks:

Narrow Bridge Finance: Money Tips for New Grads

Don’t Quit Your Day Job…  How Do You Know You’re Ready For Active Investing?

Intelligent Speculator: How To Buy Facebook

Studenomics: Why You Need to Stop Wasting Your Time Chasing Passive Income

Prairie Eco Thrifter: Bike Your Way to a Healthier, Richer, Happier You

Thanks to our host and contributors!

Next week, the Carnival wagons will be rolling up to Jeff Rose’s Good Financial Cents.

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Women outearning men: does it matter?

The question has been asked time and again. Ramit has been particularly interested in this question about gender-based stereotypes and money. Hypothetically, how would you feel if your wife/female partner earned more than you (male partner)?

(Technically, the statement is really: men and women act differently about money.)

Our running joke has always been that PiC’s always wanted a sugar mama, hardyhar.

Some of his professional friends have responded the same way: “why the heck wouldn’t I want her to? More money is more money is more good!”

To which I say: Duh. But so far, that couple hasn’t faced that reality.

Well, it’s becoming quite real for us, now. Because as it turns out, “doing something about it” (it being our wage gap between the genders) means that this year, I am pulling even with my husband and have solid plans to outpace him. We are some years apart and he made a healthy salary coming into the workforce, multiples of my entry to the workplace salary close to the same time as he had more education.

Slightly rankled with myself at the time (see: competitiveness in previous post), I made a resolution to fix that. I am making more at my age than he did at the same age. And this after 12 yrs of working not-for-my-parents, and several years after college but without the higher graduate school.

I love my husband with the warmth of Endor’s sun but this tastes sweet.

Now I have to up my game and steamroll a couple of my best friends. I know they’re making more than me. I don’t compare apples to apples, unless we’re talking medical professions, I’m going to play to win anyway.

Perhaps it doesn’t yet affect our attitudes towards each other or feel real because we’re combining accounts at a snail’s pace, and it’s also offset by the fact that I still lose a significant portion of income to supporting my dad each month. But I’m on track to continue to make more through annual and/or negotiated raises and we are well aware that I simply have higher earning potential. In part because of the choices I made, the conscious pushes for more by strategic choices and negotiations, and in part because of his choices.

Without significant change in career paths like going into management or further education, he won’t be in a position to compete with me. He does great work where he is but the room to grow is strictly structured. So while there’s no doubt he’s immensely proud of me, the question comes up: how does he feel about it?

So far, I don’t see any negative impact. If anything, perhaps because I’m a little less wound tightly, perhaps because with more income from me, our Bay household expenses feel less constrictive, we’ve been a lot more at ease generally. Not unstressed but we’re not snapping at each other over stupid little things. And it probably helps that we simply don’t discuss money with anyone (my rule).

He is perfectly comfortable discussing money with his family but I long ago put the kibosh on sharing our money and particularly my salary with them or anyone else we haven’t agreed on together. I talk about quite a lot in principle and theory freely but I don’t let those particulars out into the wild for a lot of reasons.

More so now than ever. I hate to say it but I suspect that, given the reactions of all his family and friends to recent events, they’re traditional and patriarchal and would likely have far more to say than I care to hear on the subject of who outearns who.

Thus far, our personal experience has been basically fine.

In your experience or opinion, how would you feel about a wage gap if your male or female partner made more than you did?

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Carnival of Personal Finance #361

This week’s Carnival of Personal Finance is hosted by SB at One Cent at A Time: The Mother’s Day Edition!

The Editor’s Picks:

Financial Highway: Common Interview Questions and Answers

Boomer & Echo: Pitfalls Of Chasing The Highest Dividend Yield

Bible Money Matters: How to Setup a Custodial Account for a Minor to Help Them Save or Invest

Grumpy Rumblings of the Untenured: How to wash dishes: Beyond Frugality

Prairie Eco Thrifter: Start Small; Dream Big: Achieving Financial Security from Small Beginnings

Thanks to SB for hosting and participants for submitting!

Next week, we have Graduating With a Surplus scheduled to take the helm.

 

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Carnival of Personal Finance #360

Ashley hosts this week’s Carnival of Personal Finance: The Color Wheel Edition.

Her Editor’s Picks:

Free Money Finance: Financial Rules that Work and Don’t Work

Watson Inc: Why Do The Rich Get Richer?

Wealthcare For Women: 3 Characteristics Of A True Wealth Manager.

Thanks to everyone for participating and be sure to link back to your favorite posts!

Next week, One Cent at a Time will be our host.

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Carnival of Personal Finance #359

Jacob of My Personal Finance Journey hosts this week’s Carnival of Personal Finance: Most Expensive Bottles of Wine Edition.

His Editor’s Picks:

Can I Retire Yet?: Is the 4% Safe Withdrawal Rate Obsolete?

One Smart Dollar: What is the Best Day to Buy Specific Items

Family Money Values: Parents As Resources for Adult Children

Barbara Friedberg Personal Finance: Why I Don’t Invest in Individual Stocks Anymore

Bible Money Matters: Paying Down Debt with Gazelle Intensity? How Much of an Emergency Fund Do You Need?

Thanks to all the participants – be sure to link back if you’re included and share your favorite posts.

Tune in next week when Money Talks Coaching hosts!

 

 

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How to torpedo your job search


  • Have you ever heard someone complain that jobs just aren’t out there?


And write cover letters that are: addressed to the wrong company, for the wrong job, contain foul language, off-putting, off-color humor and badly attempt to rhyme?

Or submit resumes stuffed full of buzzwords, slang, and assertions that they have experience in particular skill sets earned from having been around people performing that job?

Or give an interested recruiter/hiring manager a laundry list of reasons why they can’t take phone calls at this time or that date?


  • Have you ever heard someone state unequivocally that they’d never work for less than $XX,XXX?


And so refuse to apply for anything they think would pay less, even without experience in their field?
Or proceed to joust with a potential employer belligerently over the offered salary, the conditions of employment and the job description itself after agreeing that those terms were all understood and amenable in the first phone interview as the basic attributes of the job to which they were applying?

  • Have you ever heard someone refuse to take an interview after complaining about the job market?


Unless it was specifically under a set of their own conditions and not consider accommodating any other variety of possible conditions offered that would allow the potential employer to schedule all the interviewers needed?

Or accept and not show up at all without cancelling?


  • Have you ever heard someone ask for two days to consider a job offer?


But then disappear for over a week ignoring all emails requesting an update?

I’ve been on the job hunt many times. During the boom economy, it wasn’t terrible, and during the recession, it kind of was. I’ve crafted and recrafted my cover letters and resumes a thousand times and submitted them into the endless maws of applications. I’ve had uncomfortable job interviews where it was clear that we weren’t a good fit for each other and at least one where I was eager for the end. I’ve had great interviews where it felt like we were a great fit and yet the result wasn’t what I had expected.

I’ve had the dubious learning experience of watching really bad managers hire for largely HR-contradicted (read: illegal) reasons and manage poorly.

In these past few years, I’ve been seated on the other side of the table making these hiring decisions myself. I walked into it seeing an incredible responsibility to myself as a future manager of these hires and to the applicants to conduct a fair and robust process.

It was sobering.

I’m still convinced that there are a lot of good people looking for work, just as I think there are good employers out there.

But on this side of the curtain, I didn’t believe some of the behaviors and decision making I was seeing that made me ask: why am I working harder to try to give you a job than you are to get it?

There’s a lot of great standard advice out there for jobseekers to, as much as possible, demystify a largely hit or miss matchmaking operation and a lot of it is good for every applicant to use and refine from there. Not everyone is born star level status in their field so start with a solid foundation.

: Exercise good judgment. If not your own, borrow someone else’s. You know who they are.

: Don’t Lie. Don’t stretch the truth. Don’t overreach with the facts.

: Have someone proofread your work. Twice.

Focus on what matters: the impression you’re making

I actually don’t care about who the cover letter is addressed to: Sir or Madam, To Whom it May Concern. Generics are fine; if you go to the trouble of researching who the hiring manager is, then make sure you have the right person. 99% of applicants address their cover letter to the wrong person. That doesn’t matter.

It’s the person who decides to go the extra mile (of absurdity) that stands out: in a bad way.

From a few years ago: “I would happily fetch your coffee and [your preferred reading material].”  Cute. Funny when you get the person you meant it for, but not actually professional or funny when that quickly conveyed a lack of understanding of the role.

Think about what your words and actions say about your judgment and decision-making abilities to the person in charge. That’s what matters.

Game playing and real content

Another common trend I see is applicants trying to make themselves appear to be hot commodities using tricks and by playing hard to get.

Using buzzwords to answer a question when I’ve asked for a specific example is not an answer; if you realize you lack the experience that I’m asking for then address that directly with real reasons why I should not be worried. Show me you have a brain and that you can solve problems. Because when I work harder than a candidate in the interview, I will move on. This should be very nearly a partnership: I didn’t play games when I dated, I don’t play games when I manage, I will not play games when I hire.

Whatever the shape of the economy, people are not only unemployed but underemployed. I personally believe in offering a fair interviewing process, and so do a lot of HR people and recruiters that I know and work with.  It’d be decent to meet them (us) halfway.

Beginner or moderate level notwithstanding, everyone, applicant and hiring manager alike, deserves respect in what’s already generally a nerve-wracking and (levels vary) stressful situation for the former and time-consuming and high-stakes job for the latter.
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Continue Career Week Reading at A Gai Shan Life
Career Life: Securing the battlements for a promotion
Career Life: Taking the Castle, Part 2

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Carnival of Personal Finance #358

Eemusings from Musings of an Abstract Aucklander hosts this week’s Carnival of Personal Finance: the Anzac Edition.

Her Editor’s Picks:

Nicole and Maggie: Should kids have to take a minimum wage job when they’re teens?

The Financial Blogger: 12 tactics to build up a money-making blog,

Narrow Bridge Finance: Why I hate people who give bad tips.

Boomer & Echo: 10 Fees that are actually worth it

Weakonomics: The six kinds of employees

Thanks to everyone for hosting and participating; remember to submit your best posts for next week when My Personal Finance Journey is our host.