Personal Investor: Get an edge on the summer job market
Students are getting a hard lesson on the summer job market. The unemployment rate for Canadians between 15 and 24 years old stands at 11.7 per cent, compared with 6.5 per cent for the general population.
Buck up, stiff upper lip, and all that stuff. Here are some timely tips from RBC to help students land that summer job:
- Create a social media presence – 93 per cent of recruiters now use social media to find candidates, so it is increasingly crucial to have a consistent, interesting, and well-developed online brand. This gives recruiters unique insight into who you are professionally in a way your resume never could. Create a LinkedIn profile – it’s professional by nature.
- Create your own job – Consider using your skills or manpower to create income. Start a painting business, offer writing services or consider summer tutoring to high school students in need of some extra help over the summer. The key to doing this successfully is to treat it like a real business. Work far in advance to drum up business, register your business, put some money aside, if necessary, for start-up costs and do your market research to know how much you should be charging for your services.
- Need to take an Internship? – Internships are an excellent way for students to gain experience in their field of study and build relationships early to get the job they want after graduation. Unfortunately, unpaid internships are here to stay, so if your industry requires it for you to get the skills you need to break into the job market upon graduation, you may need to consider this to support your longer-term goals. If this is the case, Melissa can offer tips on how to budget accordingly, and ideas for making money on the side.
- Don't dismiss traditional summer jobs – lifeguarding, restaurants, retail or seasonal work have been the mainstay of summer jobs for decades because they offer reasonable pay for students. While looking for a job that can further your career is ideal, don't minimize the learning opportunity that you can gain from working in another industry.
- Use your paycheque – You should be thinking about saving a percentage of each cheque for short and long-term goals – so what’s the best way to do this?