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CNBC
5 days ago
- Business
- CNBC
Debt is a 'growing force' influencing jobseekers' choices, career expert says. Here's how
Many Americans are carrying debt — and for some, the liability is influencing their career choices and job hunting behaviors. "Debt is a growing force behind why people take certain jobs, stay in roles longer than they'd like, or hesitate to make a career pivot," said Priya Rathod, a career trends expert at Indeed, a job posting site. About 38% of survey respondents said they took on a second job to pay their debts, according to a new report by Zety, a resume templates site. A similar share, 37%, said they accepted jobs outside their industry or positions they weren't interested in just to repay their outstanding balances. About 37% owe less than $10,000, the site found. However, about 20% owe up to $25,000 while for 10%, the balance is as high as $100,000. What types of debt survey respondents have varies. Most, or 71%, said to have credit card debt, per Zety data, while 37% have mortgage debt, 30% have an auto loan and 23% have student loans, among other kinds of debt. The survey polled 1,005 U.S. employees on April 12. More from Personal Finance:Student loan borrowers face 'default cliff' as late payments climbHow the GOP budget bill targets immigrant financesFEMA is not a 'replacement for insurance coverage,' expert says The data shows that surveyed workers may not be earning enough to meet their financial obligations, and in some cases, fund their aspirations, according to Jasmine Escalera, a career expert at Zety. If it weren't for their debt, 17% of respondents said they would start a business, go back to school or freelance, per the report. "Their financial status is impacting not just them in terms of their work and their 9-to-5, but also those life goals," Escalera said. When workers begin to search for side hustle or second job, it's often because their wages are not keeping up with their cost of living or financial obligations, experts say. About 52% of polled workers said they have a side hustle in order to make ends meet, according to Indeed data provided to CNBC. In mid-May, the site polled 1,256 U.S. adults who are employed full time or part time, or seeking employment. The decision to take on a second job may also come out of fear for the state of the economy, Rathod said. About 46% of respondents said they're concerned about being laid off in the next year, so they want to make sure they are able to protect themselves by working side jobs, Indeed found. "It's driven by necessity," said Rathod. But picking up extra work can come with trade-offs, such as feeling burnout or stress, she said. While taking on a second job for more income may sound like a viable solution to pay down debt, consider asking for a raise or seeking a promotion in your current job first, experts say. If that doesn't work, there are other steps to consider, like pivoting to a higher-paying role or new industry. "People really need to understand that working more hours is a short-term solution, and growing your main income is a long-term strategy," Rathod said. If you're noticing that wage growth is slowing down in your company or industry, it may be difficult to get a raise, said Rathod. Instead, negotiate for parts of your total compensation, such as the flexibility to work hybrid or remote, more stock options, wellness benefits or a stipend for continuing education. Otherwise, consider applying to a new role that pays more, whether internally or in a new company, or switching to a different industry that has better growth prospects, Rathod said. For example, someone who works in sales could apply those skills in a variety of fields, like health care, which is growing. In May, nearly half of the job growth came from health care, which added 62,000 jobs, according to the Bureau of Labor Statistics. Think about how your skills can transfer to roles in a new sector, or find ways you can "upskill" — to expand your existing abilities, per LinkedIn — to get your foot in the door, Rathod said. If you still believe that you need an additional source of income rather than a new role, think about the skills that you already have and what you're good at, experts say. Also make sure that the additional hours do not interfere with your primary source of income and other areas of your life, Escalera said.
Yahoo
15-06-2025
- Business
- Yahoo
To accept or decline: Here's how you should treat LinkedIn requests from strangers
It happens to a lot of us. A new LinkedIn connection request pops up without a note, a message, or a reason. Perhaps the person shares a few mutual connections, but they're essentially a stranger. Some people are willing to accept any request that comes their way. Others, however, are more guarded, and only looking to connect with people they know personally. But the question remains: should you accept or decline LinkedIn invitations from an unknown person? As a career expert at hiring platform Indeed, Priya Rathod often gets these kinds of invitations. 'I personally get several requests where there's no mutual connections, no note. I'm just left wondering who this person is and why they want to connect with me,' she tells Fortune. Career experts that Fortune spoke with say there's no blanket formula for how to treat these invitations. Instead, they emphasize that the choice is a personal one: Some people may prefer a carefully curated professional network, while others see strength in numbers. And they add that while it's not strictly forbidden to send a LinkedIn request to a stranger, there are some important rules that aspiring networkers should keep in mind. 'A lot of people hate getting a LinkedIn connection request from a random person, because it's a bit uncomfortable,' says Gracie Saskersian, associate dean of Columbia Business School's Career Management Center. 'On the other hand networking is about engaging with both people that you know in your personal network, as well as people who are a couple of degrees removed. And those are the folks who have proved to be the most valuable resources during a job search.' There are two schools of thought when it comes to receiving a LinkedIn request from a stranger. The first is that all requests are welcome. This is especially prevalent among early-career workers trying to build their professional network, and it can be tempting to accept all invites in an effort to boost numbers and reach a threshold like 500 connections. Other people may just want a larger group of connections for their posts to have a bigger impact. 'I'll accept almost everyone,' says Tim Toterhi, CHRO advisor, author, and career coach. That includes recent graduates, colleagues or anyone who's read his latest book—as long as the connection request comes with a brief explanation. He does try to avoid pictureless individuals or people with blank profiles as a way to weed out bots or scammers, but Toterhi says he's willing to connect with most humans as long as there's some level of intent behind it. 'We each have a right to decide what kind of network we are building and whether that network is meant for intimacy, influence, or impact,' says Arianny Mercedes, who previously helped lead talent management at American Express, and is now the founder of Revamped, a global career and workplace consultancy. She adds, however, that the downside to a 'more is more' approach to LinkedIn is an increasingly noisy timeline. 'Every time we accept a new connection, we allow another voice into our digital field,' she says. The second school of thought is that LinkedIn invitations should be considered carefully. That means declining or ignoring requests from strangers. 'It's about relevance, not rejection,' says Nirit Peled-Muntz, chief people officer at HR technology company HiBob. 'For me, it's about treating people the way I'd want to be treated. That doesn't mean accepting every request, but it does mean being thoughtful and kind where possible.' Michael Mandel, co-founder and CEO of CompStak, a platform for commercial real estate data, recently posted his own list of criteria for rejecting LinkedIn invitations. People who promote the number of connections they have, describe themselves as 'thought leaders' and 'visionaries,' or frequently use the rocket ship emoji, are all disqualified. He even noted that he wished he had an 'AI agent that automatically rejects LinkedIn invitations' based on that criteria. Reaching out a stranger on LinkedIn is possible, career experts say, and sometimes even encouraged. You just have to go about it the right way. 'Sending a connection request is really akin to walking up to someone in-person at a networking event and asking for an introduction or doing it yourself,' says Rathod. 'So it is okay, but there are some very key things that you need to keep in mind.' The main thing is to include a short, well-written missive along with the request. Career experts say it's the number one differentiator as to whether or not they're willing to accept a request from someone they have not actually met. LinkedIn members are also much more likely to connect with people who have interacted with their content, according to the company's internal data. Around 20% of users say having mutual connections is one of the most important factors in deciding who to connect with. Andrew McCaskill, a career expert at LinkedIn with more than 30,000 followers on the platform, says he typically gets 10 direct connection requests per day, and only knows the names of one or two people. McCaskill is in a unique position in that he works for LinkedIn, but even then he says he doesn't accept connection requests from just anyone—he's much more likely to accept a request from someone who's been following his work, or who he's interacted with on the platform before. They must also share the reason they're reaching out to him. 'If I'm looking at a line of people who are asking me for a direct connection, I'm going to look at the note first. Writing the note says that I don't just want a connection, I'd like you to be my connection,' he tells Fortune. Most professionals don't have the time to 'go through all the mental gymnastics' around whether or not they've met said person, he adds. If it takes too much effort, more often than not he leaves it for later. 'Once it gets lost in that shuffle I may never return to it.' When it comes to writing that all-important note to go along with a connection request, experts say it's crucial to make sure it isn't too detailed—avoid sharing a long career history. Instead, just write one or two sentences about why you're contacting someone. 'Anything from a shared industry to similar goals or admiration for their work can make a big difference in how their request is received,' says Rathod. This story was originally featured on
Yahoo
30-04-2025
- Business
- Yahoo
Healthcare jobs are practically recession-proof, says Indeed—here's how to get in and make over $100K
Healthcare may be job seekers' best bet at a stable six-figure salary in the current climate. While Indeed hails the field as 'recession-resistant,' nurses agree that they've enjoyed plentiful job options, even during the 2008 recession. Here's how job seekers can get their feet in the door. Dark clouds are storming over America's markets—threatening to drastically raise prices and eliminate jobs. Luckily, one industry has typically buoyed during recessionary times. 'Healthcare is a classic recession-resistant industry because medical care is always in demand,' Priya Rathod, career expert at Indeed, tells Fortune. And it may be the safest way to hold down a job with a potential six-figure starting salary right now. New data from the careers platform shows that home health, doctor, and nursing job postings have hit a combined 162% growth since pre-pandemic. Physician and surgeon jobs represent the greatest boost in the field, as open roles have skyrocketed 90% since pre-pandemic years. Meanwhile, other industries are suffering; arts and entertainment job postings have especially plummeted since 2022, falling 10% overall from pre-COVID-19 levels. People will always need their yearly check-ups, routine medical care, and emergency hospital on speed dial—no matter how rough the economy is. 'During the 2007–2009 Great Recession, healthcare employment continued to grow even as overall U.S. payrolls shrank,' Rathod says, and that this is 'A sign that the sector is 'resistant to, if not immune from' traditional economic downturns, according to the Bureau of Labor Statistics.' America also has a rapidly aging population, driving the need for services like home health, personal care, surgeon, and physician jobs. Healthcare employment is expected to swell by roughly 1.9 million job openings annually over the next decade, according to BLS data. Danielle LeVeck, a nurse of over 15 years, tells Fortune she has witnessed her profession's growth in action. She switched career tracks from PR to nursing in 2007, hoping for steady employment. She's never worried about being unemployed since, and is comforted by the routine and safety of her career. 'I've never worried, since becoming a nurse, that I wouldn't have a job. That sense of security is very important to me,' LeVeck says. 'Working with the same people every day, going to work and helping people, it's good for me.' There's another sticky situation the healthcare industry naturally skirts: the impact of AI on jobs. Workers have been wringing their hands over the reality that advanced tech is coming for their roles. But medical staffers don't have to lose sleep; healthcare is one of the key industries expected to grow amid the U.S.'s AI-driven business landscape disruption, according to a 2024 report from McKinsey. AI still can't perform a majority of tasks that healthcare workers can—like sterilizing surgical equipment, or administering at-home aid. These recession and AI-proof jobs aren't just the golden ticket to a steady career—but a six-figure salary, if you play your cards right. 'You have to have experience, you have to be living in the right place, and working at the right place. The pay discrepancy for nurses is wide,' LeVeck says. When she started as a bedside nurse in 2011, her initial wages were $45,000 a year, and her final role in that niche paid $67,000 annually. LeVeck says it is possible to earn over $100,000 as a bedside nurse, but that her later job as a nurse practitioner is more apt to make six figures as a starting salary. The real money lies in private hospitals and care centers as opposed to large, research-based hospitals—there's typically a lighter workload, but higher competition for these jobs that nobody wants to leave. Nursing is just one of the several recession-proof jobs with the chance to earn six figures. Physicians can earn over $200,000 annually, and doctors like general practitioners rake in $140,000 yearly. LeVeck says making the right connections can be the make-or-break for healthcare professionals to secure high-paying roles—networking is how she's landed every job in her career. Rathod echoes the importance of connection building. She also recommends job-seekers optimize their resumes to highlight healthcare-relevant skills and gain credentials like a certified nursing assistant (CNA) license or an IT security certificate. But at a baseline level, simply getting your foot in the door is a good first step. 'Don't hesitate to start in an adjacent or entry-level role such as an administrative job at a hospital,' Rathod says. 'Demonstrating initiative and flexibility can help you stand out, even in crowded applicant pools.' This story was originally featured on
