Category Archives: Internship Search

Free Checking Account? Watch Out for Hidden Fees

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Watch Out for Hidden Fees

Image extracted from: Reason.com

One of my recent blog posts (Financial Responsibility & The Payday Lending Debt Trap) discussed challenges faced by recent grads, the excitement of a first job, a paycheck and the importance of financial responsibility.   Oftentimes when just starting out in what my father refers to as the “real world”, a checking account may serve merely as a pass through entity for your funds – in comes the money and then out it goes to pay your bills – no reason to worry about hidden fees.  (Mind you, it is wise to set aside 10% for savings and you should make it a habit now– but, let’s face it, that isn’t always possible). So, the money is in, the money is out – the question is, will more be “out than in” with your free checking account hidden fees?

Let me explain. You may or may not be aware of a number of regulations within the financial industry that have been passed over the last year or so which have impacted financial institutions’ “lucrative” stream of fee income as it pertains to overdraft fees etc.  So, the days of FREE checking now seem to be morphing into the days of free checking with fine print and hidden fees.  The new regs have forced institutions to find alternative ways to make up for the lost income and Free Checking has become the target.

A truly free checking account is one with no minimum balance and no monthly fees (or any other hidden fees), period.  The new “free” checking is – your account is free “if you have X on deposit” or “if you do all your banking online and never visit an office – if so we’ll charge you” so on and so forth – a lot of fine print and a lot of rules and if you can’t comply, it could cost you. It’s true, free checking as we know it may become extinct.  Check out this article on bankrate.com.
Recently, WPXI’s consumer reporter, Robin Taylor, came to Riverset to gain our insight on the subject and Kelly Friedl, our Director of Operations, took the interview.  Check it out.
The bottom line is – read the fine print and be smart with your money so you are not hit with hidden fees.  Not only do you need to know what you can afford, you need to know what financial institution best fits you.  Why should you have to pay more for your own money?

Riverset Credit Union is open to those in Allegheny, Beaver and Butler Counties.  View info on all of our products and services, including our Free checking at riverset.com.

How to Network So You Don’t Feel Like a Jerk

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Image extracted from: My Coding Career

I wrote a post awhile ago about social networking.  The main point I tried to make is that social networking has gotten a bad reputation.  (If you don’t believe me, after you read this post, check out this article in The Onion.)  Since this article was posted, we’ve had other posts about personal branding, what it means, how to do it, and what’s the point.

I want to bring the focus back on the idea of networking, however.  While your personal brand is important for long-term success, it’s not mutually exclusive to networking.  Your personal brand shapes your business personality, but social networking is the activity that gives you practice at building your personal brand.

I want to talk a little bit about how to network and not feel like a jerk about it.  If you are in the right context, social networking is fun, fulfilling, and after awhile, you don’t realize you’re doing it.

First, what’s your personality?  What are some things that you like or don’t like?

Extracted from: Myers Briggs Page

Are you shy? Do you like crowds?  Do you like people most of the time and are you curious about people?  Does talking about the weather make you feel furious?

If you are shy, or don’t like crowds but you want to get to know folks, don’t worry, you can still socially network.  Bring a good friend to events to help calm your nerves.  Also, I recently attended a meeting comprised of a small group of people interested in expanding the green education movement.  The people worked in the environmental field in some way and were there to learn from one another and to see how they could collaborate.  Since the group was small, we were all able to introduce ourselves and talk a bit about what we did, and how the group could help us in our endeavors.  There are all kinds of small gatherings like these and I am sure in your area.

This leads me to my next point about how to network:  What goals do you have for social networking in the first place?

Are you trying to find a job or explore new careers paths?  Are you looking for volunteering opportunities?  Are you a bit tired of your same old routine and looking to spice things up a bit by finding new friends?

Being at the right kind of event to network is important because your expectations are managed, and you don’t feel your time is wasted.  If you are seriously trying to find a job, going to an internship fair might drive you insane because employers are there looking for, well, interns.

Don’t be afraid to email the contact person for an event and ask what kinds of people are attending the event.  If you have a specific purpose for networking,mention that to the contact person to see if this might be a good fit.

When you are at the event, be prepared to say why you are there, be concise.  If you need to, practice answering the question, “what bring you here today?” in a few different ways so you don’t sound like a robot.

Pay back the love.  Social networking is definitely about helping other people.  If someone mentions they are interested in landscape architecture, and your neighbor is in that business, connect them.  Both people will thank you for it.

Lastly, give yourself a break.  No one is perfect and suave all the time.  If you’re new at attending events, get out there and have fun, and make it what you want.

 

What Really Matters When Accepting a Job Offer?

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Image extracted from: cartoonstock.com

Employers NEED your feedback.  Upon contemplating a new career or accepting a job offer, it is important to capture, in your mind what it is you are looking for, with the new position. Maybe it is the opportunity to advance and grow your skills.  Some people look at the company reputation before accepting a job offer, as an addition to their own reputation.  A new wave of thinking, is that of the work/life balance and making sure that you put in a strong 40 hours a week, although it is not the traditional 9-5 days. Lastly, of course, salary and benefits are important when it comes to accepting a job offer.

There is a number of ideas, whether you are a recent grad or going back for your graduate degree years after you undergrad.  Employers are looking at these types of items now, in order to maintain the “Employer of Choice” image and to retain employees for the long haul.  Keeping employees longer tenures will allow for lower training costs and typically higher loyalty from the employee. Below is a link to give your opinion.

This is confidential and you will be able to see the results as soon as you click your response – Click Here

A Career in Sports: Eric Kubota

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A few months ago I read Moneyball: The art of Winning an Unfair Game by Michael Lewis.  Moneyball is about working in professional sports, specifically the success of the Oakland Athletics and using statistics to achieve goals never before seen in baseball.

While reading Moneyball, I got to thinking about careers in sports and I came across the name Eric Kubota.  What struck me about Eric Kubota other than his amazing ability to analyze statistics, was that he ended up with a career in sports at the Oakland Athletics via an internship.

Eric was kind enough to talk with me about how, after “the opportunity presented itself” to intern with the Oakland A’s, the opportunity then transformed into a career in sports.

Eric Kubota head shotRA: How did you make your way to the Oakland A’s?

EK: I started working in the athletic department at University of California at Berkley while a student.  From there, someone at Cal was made aware of an opportunity with the A’s and recommended me for the position.

I was lucky to be exposed to many different aspects of working in the sports industry and was even luckier to learn from some great mentors.

RA: How did your internship shape your career in sports?

EK:  My internship at the A’s led to a full-time position.  I have been with the A’s ever since.  I owe my entire professional career in sports to that internship. Without that experience as an intern, I would not be in the position I am today working in the sports industry.

RA: What was the most significant thing you learned while being an intern?

EK:  The importance of being disciplined in the effort you give.  There are many times when you need to push yourself to keep moving forward.  When you don’t, the opposite happens and you end up falling behind.

RA: What advice do you have for interns today?

EK:  One of my mentors at the A’s always said to make oneself “indispensable”.  I think it is important to make the most of any opportunity you are given.  This can be an opportunity to learn.  It can also be an opportunity to fill a role that will lead to on the right path to a career in sports or elsewhere.

End interview

The RIC will have more posts about working in the sports industry.  To stay updated on these posts, don’t forget to sign up for our weekly blog updates.

 

 

 

 

 

 

 

Career Fairs Etiquette

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As an employee of Coro Pittsburgh and The Regional Internship Center, I go to as many internship and career fairs as possible in the Pittsburgh region. Career fairs are an excellent way to find an internship or a job, but it can be hard to figure out exactly what you should do. Below are some  tips on career fair etiquette.

Respect the Recruiters’ Time

Have a game plan.

Research which companies will be in attendance before the actual career fair. Choose a handful of companies that most interest you and visit their website and figure out what they do. If you are given an employer directory at the fair, take a moment to read the descriptions of employers you plan to visit.

Approach the table and introduce yourself with a handshake.

If the company is not hiring a position that interests you, engage them in a conversation anyway. Career fairs can be a great networking tool.  Let them know while you realize they are not hiring, you are interested in the company and would like to know how else you can become involved. If they are a non-profit organization, ask if there are other ways that you can get involved, possibly by volunteering or serving on an advisory board.

Dress for Success

If you are looking for a job or internship at a career fair— dress appropriately! Many companies actually conduct interviews during the career fair if they find you meet their qualifications.

While recruiters realize that you have classes to attend either before or after the career fair, that doesn’t mean that you should go to a fair dressed in sweats– so dress for success. An even worse scenario (in my opinion) is when you attempt to dress professionally, but still wear inappropriate clothing.

Ladies

Avoid

Tight fitting clothing, short skirts, super high heels, flip flops, leather suits (I actually saw this at a career fair once), “shirt dresses,”  ripped up leggings, leggings in general, and anything you would wear to the club.

Inappropriate Attire

Do

Knee-length skirts, pant suits, skirt suits, closed toe heels, minimal makeup and jewelry, anything you would wear on an interview is appropriate.

 

Guys

Avoid

Tight/skinny pants, jeans, sweatshirts, cowboy boots and hat (saw this at a career fair once too), flip flops, camoflauge anything, bright colored suits, tank tops, over-sized clothing, clothing with writing or graphics on it, sneakers, basically nothing  that you wouldn’t wear to an interview.

Do

Neutral suits, ties, polo shirts, khakis, closed toe shoes, button up shirts are all appropriate.

These dress rules also count for interviewing! It is a good idea to dress conservatively for interviews, even if you know the company is very casual. It is always best to be a little over-dressed than under-dressed.

Follow up!

If a recruiter gave you his or her business card and asked you to get in touch with them, do it! Also, I know it is frustrating that many companies require you to apply online. If they seemed interested in you and asked you to apply online, please do so. When tailoring your resume, reference the career fair in your cover letter and who you spoke with. Showing that you can follow directions goes a long way. If you feel that you had a really great connection with the recruiter, invite him or her on an informational interview.

If you have any questions on career fair etiquette, how to dress for success or appropriate follow up to employers please feel free to get in touch with me or another RIC Team Member!

Best of Luck!!

Financial Responsibility & The Payday Lending Debt Trap

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Image from: worradmu

To recent grads a great expectation that comes with the first job is to finally have a real paycheck! After all the school work, internships, and, often times, living on a really tight budget, you can finally have a real income. But beware! Even though you are probably making more money, this is the time to practice financial responsibility and learn how to manage your money wisely, not to fall into a debt trap.

Before the emergence of credit cards, the phrase “I’ll have to wait until payday” to purchase something was more frequently stated and followed than it is in today’s society.  We live in a world of instant gratification and the need to have things now seems more prevalent than the concept of financial responsibility. This mentality has fueled the expansion of the payday lending industry and we feel that the upcoming workforce should know better.

Debt Traps

Many individuals turn to payday lending and check cashing outlets in order to borrow funds from a future paycheck prior to its receipt.  Payday outlets advertise these loans as quick and easy ways to get cash which is attractive to a growing number of consumers for reasons such as unanticipated expenses; lack of financial education which prevents the consumer from creating a realistic working budget and those who simply have a mistrust or lack of confidence in traditional financial institutions such as credit unions or banks.  They may feel that a financial institution can’t help them because of poor or no credit history or they’ve bounced checks in the past which haven’t been repaid and thus prevents them from securing a checking account.

Payday Lending

The payday lending debt trap locks borrowers into a cycle of revolving credit with an average APR of 400% and fees as high as 1,000% APR.  When the payday loan is due, generally within 14 days, consumers have the choice to pay it off in full with the postdated check they were required to supply at the onset of the loan or pay fees and refinance for another term if available.

Example: In an emergency, Jane needs to pay $300 for her rent.  To cover the shortfall, she takes out a payday loan.  She writes a postdated check for $345 – the $300 owed to her landlord and a $45 payday lender fee.  When her paycheck comes in, she discovers that there isn’t enough to pay back this loan and meet her expenses so, she extends the loan for another two weeks and now owes $390 due to an additional $45 fee.

In the past few years regulators have made strides to tighten payday lending laws throughout the country and instill into the public arena the importance of financial responsibility.

Be Smart!

Image extracted from: Lazdina Blogspot

Don’t fall victim to these debt traps!  In this case, what may appear convenient at the time will cost more in the end.

  • Do your research and open an account at a credit union or a bank that is right for you.  Many of these institutions even offer free financial counseling and money management services to help educate consumers.
  • If there is a history of bounced checks – pay off your debt.  A number of conventional institutions will give you a second chance.
  • Break the cycle.  If you are using payday lenders and check cashing facilities, there are other options.  Spread the word to your friends and families about financial responsibility.

Riverset is open to individuals in Allegheny, Beaver and Butler Counties.  To learn more about managing your money and financial responsibility, visit riverset.com.