Business Briefs

By Russ Wild

Business Briefs is about being successful, REALLY successful, which means enjoying a chunky paycheck, yes. It also means liking yourself. The advice in this book comes directly from 90 "sharp minds," including tax-preparation guru Henry Bloch, Gen. Colin Powell, humorist Dave Barry, and a bevy of senior execs at top corporations, well-respected consultants, speakers, and authors. Some of these experts are U.S.-based, others come from as far away as Singapore and Hong Kong. Together, they provide a wealth of information for anyone interested in finding a good job, launching a career, or getting that next promotion.

Below are three passages from the book, the author's picks.
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1. Continuing Education - Is an MBA in your stars?

The MBA isn't a bad thing to have these days, but is it worth your commitment of time and money? First, not all MBAs are equal. In fact, there's a huge difference in average starting pay between the diamond-studded schools and the lesser-knowns. At Harvard, freshly-minted MBAs are now greeting the corporate sunrise with average starting salaries of over $100,000. Even at highly respected, diamond-chip schools like the University of Texas or Indiana's Purdue, new MBAs are accepting more earth-bound salaries, averaging in the 50s to low 60s. At those cubic zirconia schools that would accept anyone who could pay, it's guaranteed that starting salaries are much, much lower.

Of course, years down the road, where you got your MBA, or even whether you have an MBA, won't be as important to prospective employers as your job performance. "By the time one is five years out, job performance counts almost exclusively," says Eric Greenberg, director of management studies at the American Management Association.

So should you go for an MBA? It really depends, says Greenberg, mostly on what your long-range goals are. "In some careers having an MBA--any MBA--is a necessity. In other careers, it won't matter." He suggests that rather than limiting yourself strictly to thinking about an MBA, you consider other advanced degrees. "The most sought-after managers these days are people with multiple specialties," he says. "In many cases, an advanced degree in engineering, information systems or organizational psychology might be worth much more than an MBA."

2. Interviewing to Perfection - Paint a pretty picture

You got the interview. Yesssss. What now? "Being interviewed is an art--and there are a lot of bad artists out there," says Mark A. Case, director of the career development office at the Yale School of Management. "The biggest knock-out factor in interviews is walking in with the idea that the resume will speak for itself, that you're there only to fill in any blanks," says Case. "Effective interviewing should include a well-designed presentation in which you differentiate yourself from other candidates, position yourself within the company, sell your unique package of qualifications." Here's how:
 

• Differentiate yourself. "A lot of job candidates find it difficult to distinguish and separate themselves from teams they've been part of in the past," says Case. "You really need to talk about your special talents and achievements."

• Play your position. Do your research. Get the full scoop on the company and the position you're interviewing for. Make a list of the talents and skills that you'll need to excel in such a position. During your interview, show that you have those skills by giving specific examples. If you're applying for a position as a management consultant, for example, recount projects you've tackled in the past that show your intelligence, analytical skills, people skills, and ability to manage projects.

• Sell yourself. "I can't tell you how many people in interviews say `I think I can make a big difference...,' or `I might...,' or `I would....' Don't overuse qualifiers," says Case. "You want to say `I am the right person for this job....' and `I can make a big difference.' The distinction between making the assertion with the qualifier and making it without may seem minor--but the impact on the listener can be as different as night and day."

• Sell yourself again. "Like any salesman, you'll need to close the sale," says Case. At the end of your interview, ask whether you can have the opportunity to encapsulate. At that point, summarize your qualifications, and how confident you are about taking the position. Thank the person for his time.

• ...And a third time. As soon as you get home, send off a follow-up letter. "Start it off by again thanking the person for his time, and recapping important points discussed during the interview. Personalize your note--it shouldn't look like a form letter," says Case. Then make your final pitch--one more time, summarize your unique talents and how swimmingly you would fit into the organization and excel at the job.

3. Interviewing to Perfection - Do the dollar dance

You spilled no soup on your lap at lunch, your palms and pits are still dry, and you're glibly chatting away--everything, in other words, is going perfectly. Then, all of a sudden, the air is stiller than death and your heart begins to go flub flub, for the interviewer has asked you the dreaded question:

So, Mary Beth, what are your salary requirements?

This guy is no fool. He's trying to get you to show your cards before he shows his. What's running through his mind is "Mmmmm, this gal seems awfully eager, maybe I can get her for peanuts."

Don't be a sucker, says Sandra K. Allgeier, director of human resources for Providian Corporation, a financial services company based in Louisville, Kentucky. Instead, throw the question right back at the interviewer (sweetly, of course). Say something like...Well, Douglas, I would like to look at the total opportunity, which would include future opportunities, base pay and benefits. Could you give me some idea of your expected range of pay, as well as a sense of benefits and the chances for rapid advancement?

If the joker still insists that you show your cards, give him a peek, but only that. Say something like: Based on my research, I would expect a range in the area of, oh, $35,000 to $45,000. Is that consistent with your expectations?

If asked for your current pay, you're stuck. Be truthful. "I know popular wisdom says to hold out on that information, but this really irritates employers and they eventually find out anyway," says Allgeier. Be certain to tell the interviewer if you are expecting a raise in the next three to six months, and how much that will likely be.

"If you know that you would be unwilling to leave your current employer without an increase in current earnings, say that," suggests Allgeier. "If you are unsure about whether you would or not, say nothing."

Russ Wild welcomes your comments about this article. You can contact Russ at:RWILD@compuserve.com

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