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Yahoo
5 days ago
- Business
- Yahoo
Ramit Sethi Debunks 3 Salary Myths Holding You Back From Building Wealth
Ramit Sethi, the best-selling author of 'I Will Teach You to Be Rich,' recently shared three salary myths in his newsletter, explaining that many people believe if they work hard, their company will reward them with promotions and raises. However, he explained that it doesn't always happen. Check Out: Read More: Unfortunately, many people are not receiving the salaries they deserve. Even worse, sometimes individuals with far less experience earn the same amount of money as those who have been working for over a decade. In the newsletter, Sethi detailed three salary myths, explaining why they hold people back while giving suggestions on how to overcome them. Sethi said in his newsletter that he surveyed 2,200 people about their salaries, and the results showed 91% of respondents received a raise in the last two years. However, many people are concerned about economic uncertainty and the potential for layoffs. Resume Templates recently surveyed 1,000 managers in the U.S., asking about the potential for layoffs in 2025. Responses showed 45% of surveyed companies are likely to lay off workers this year. However, Bureau of Labor Statistics data signaled that wages and salaries have increased this year. In other words, some economic sectors will experience layoffs, but others are growing, and wages are increasing overall. Sethi said if you haven't gotten a raise recently, it's important to understand why. It could be your company, your job sector or your performance. I'm a Self-Made Millionaire: Sethi explained that the notion that people have to hustle to earn a good salary is outdated. In fact, based on his survey data, many people earn excellent salaries working 40 hours a week or less. Sethi speaks often about what he calls the 'rich life.' Everyone's version of the rich life is different, but Sethi says people don't have to work constantly to have one. He encourages his listeners to discover what makes their life rich, whether that's time freedom, the ability to travel, or something else. Sethi noted this is a common myth passed down by people's parents. People believe that if they demonstrate loyalty to their company and work hard, their pay will increase. Unfortunately, this isn't guaranteed. If you're among the group of workers experiencing pay stagnation, something needs to change, according to Sethi. He explained that, fortunately, people have the power to improve their salaries through networking, mastering job hopping and improving how they market their valuable skills. Sethi teaches this through several career-based educational programs available on his website. More From GOBankingRates Mark Cuban Warns of 'Red Rural Recession' -- 4 States That Could Get Hit Hard These Cars May Seem Expensive, but They Rarely Need Repairs 5 Types of Cars Retirees Should Stay Away From Buying This article originally appeared on Ramit Sethi Debunks 3 Salary Myths Holding You Back From Building Wealth
Yahoo
28-05-2025
- Business
- Yahoo
1 in 4 employers say they'll eliminate degree requirements by year's end
This story was originally published on HR Dive. To receive daily news and insights, subscribe to our free daily HR Dive newsletter. A quarter of employers surveyed said they will remove bachelor's degree requirements for some roles by the end of 2025, according to a May 20 report from Resume Templates. In addition, 7 in 10 hiring managers said their company looks at relevant experience over a bachelor's degree while making hiring decisions. 'Over the last five years, we've seen large organizations drop degree requirements in favor of certifications or experience, and now others are following suit,' said Julia Toothacre, chief career strategist for Resume Templates. 'For employers, it expands the talent pool and generates positive PR. For candidates, it opens doors for those who can't afford a degree or choose a different path. These jobs have the potential to lift people out of poverty.' In the survey of 1,000 hiring managers, 84% of companies that recently removed degree requirements said it has been a successful move. Companies without degree requirements also reported a surge in applications, a more diverse applicant pool and the ability to offer lower salaries. Among employers that eliminated degree requirements, two-thirds did so for entry-level roles, 54% for mid-level roles and 23% for senior-level roles. About half of hiring managers said 'a lot' of their roles still require a bachelor's degree, while 1% said none do. Forty-two percent of hiring managers said Generation Z should prioritize gaining job experience over a degree. Hiring managers also said practical skills related to artificial intelligence tools and soft skills, such as strong interpersonal and communication skills, are important. Many Gen Z job seekers say AI has made their college degrees irrelevant, according to an Indeed report. The ongoing push to eliminate college degree requirements has led half of Gen Z workers to view their degrees as a waste of time and money, the report found. To expand access to jobs and reduce reliance on degrees, California has announced a plan to launch 'career passports' to encourage job access. Gov. Gavin Newsom said the tool will combine academic records and experience from work, military service and training programs for hiring. Michigan has also announced an initiative to expand access to college and skills training for men. The directive will focus on closing gender gaps in education and supporting Gov. Gretchen Whitmer's Sixty by 30 goal of increasing the percentage of Michiganders with a degree or certificate to 60% by 2030.
Yahoo
11-05-2025
- Entertainment
- Yahoo
David Letterman's Top Reason To Rethink Retirement: Do Experts Agree With His ‘Myth of Retirement'?
Should you retire? That's the question countless retirement-age individuals ponder. On the one hand, the concept of retirement sounds great. After all, what could be better than sitting on a warm beach with an ice-cold drink? On the other hand, will retirement be fulfilling for you? Be Aware: Try This: American television host and comedian David Letterman has a unique take on retirement after living the retirement lifestyle for nearly 10 years. Here's a look at his top reason to rethink retirement — and whether experts agree with his 'Myth of Retirement' stance. Also, be aware of retirement planning mistakes you might be wasting money on. In late 2024, Letterman told GQ that retirement is a myth. The concepts of retirement sound great in theory, but Letterman explained that 'the human mechanism' won't allow you to retire. The desire to produce and stay in rhythm makes retirement unsatisfying for many. For example, if you are used to waking up every day at 7 a.m. for work, what happens if you no longer have a job? Many retirees become bored and unsatisfied without the routine they're accustomed to. A recent survey from Resume Templates found that 36% of respondents would unretire because they are bored. Without hobbies and activities to fill your days, retirement could become a nightmare. Read Next: Do experts agree with Letterman's take on retirement? While there certainly is some truth to the desire to produce, it shouldn't prevent you from enjoying your golden years. Uncovering new hobbies and activities will be crucial to living a fulfilling retirement. For many, work doesn't stop, but the type of work might change. For example, if you worked in the finance industry, maybe during retirement, you would volunteer to run the finances of your local church or humane society. While you might not be working a traditional 9-to-5, you are still producing and beneficially contributing to society. 'As a financial advisor to many clients over the age of 65, I have found the most important thing to them is usually not money, but rather continuing to have a purpose and be around people,' said Bryan M. Kuderna, CFP, founder of Kuderna Financial. 'Some folks partially retire, often staying on as a consultant with their former employer, and have found this to be the best phase of their career, having the ability to work when they want and where they want, while having some extra income they didn't expect.' Although Letterman certainly has the funds to retire, he keeps working. Other wealthy individuals, like Bill Gates and Bernard Arnault, seem to do the same. These people continue to work because they enjoy it, not because they need a paycheck. Before you throw in the towel and head toward retirement, think about what your days will look like. For example, some prospective retirees 'test' retirement by taking a month or two off. This can be a great way to determine what adjustments you might need during retirement, whether that be a part-time job or a new hobby. More From GOBankingRates 5 Luxury Cars That Will Have Massive Price Drops in Spring 2025 4 Things You Should Do if You Want To Retire Early How Far $750K Plus Social Security Goes in Retirement in Every US Region 12 SUVs With the Most Reliable Engines Sources: GQ, 'David Letterman Says 'Retirement Is a Myth' in His GQ Video Cover Story.' Resume Templates, '1 in 4 Retired-Aged Seniors Are Still Working, With More Planning To Rejoin the Workforce in 2025.' Bryan M. Kuderna, Kuderna Financial This article originally appeared on David Letterman's Top Reason To Rethink Retirement: Do Experts Agree With His 'Myth of Retirement'?
Epoch Times
28-04-2025
- Business
- Epoch Times
New Survey Shows 75 Percent of Graduating College Students Have Yet to Secure a Job
A newly released The survey included 378 students graduating from either a four-year (78 percent) or two-year college program. ResumeTemplates chief career strategist 'It's actually what we have continued to see over the years, regardless of the economy,' she said. 'A lot of college students are in a bubble and don't even think about jobs until two weeks before graduation. Some of them are still trying to figure out exactly what they want to do.' For business and finance majors, they are definitely late to the party, as recruiters typically visit campuses to seek out potential job candidates during their junior year. Those fields are usually the first to hire, noted Toothacre, as well as anything in the health care and engineering industries. Related Stories 12/17/2024 10/28/2024 Toothacre is also a career coach and has spent many years in college career offices, designed to help students navigate their way from college to the working world. She said that many of them either don't realize how the career offices can help or are just too busy with classwork. 'A lot of them are focused on trying to get through final exams and are not thinking about next steps,' she said. Despite a lack of preparedness, one in five students say they expect to earn $70,000 or more in their first job out of college. 'While that number is realistic when you're talking about the cost of living, it's not the reality when it comes to starting salaries,' added Toothacre. She said graduates should probably expect more in the $45,000–65,000 range, depending on where the job is located. Major metropolitan areas tend to offer higher salaries, but rents are also substantially higher. Some roles, such as sales or real estate, offer unlimited earnings. 'I've had some students who want to work in real estate and make a quarter of a million dollars the first year,' Toothacre said. 'They have a 'sky's the limit' mindset. Then there's the political science majors who say they'd be happy with just $50,000 a year.' The National Association of Colleges and Employers ( For business and communications majors, the salaries are slightly less at $65,276 and $60,353, respectively. The top five degrees in demand in today's marketplace are finance, computer science, accounting, business administration, and information sciences. Courtesy of Most Graduates Won't Seek Fully Remote Jobs The survey indicates nine in 10 graduates will not seek fully remote positions. Numerous published reports have continually recognized the love of remote work by Generation Z (ages 13–28). 'This population missed out on internships during the pandemic, so I think most of them are now eager to get back into an office,' Toothacre said. 'I think they want the experience, the human interaction, and they want to learn by observing.' Stacey Cohen, founder and CEO of Co-Communications, a public relations and marketing firm in New York, has written two books designed to help college graduates market themselves and stand out with their own brand. 'Brand Up: The Ultimate Playbook for College & Career Success in the Digital World' and 'Brand Up 2.0: Propel Your Early Career Success' were inspired by her daughter's college journey and the intense competition in admissions and ultimately securing a job. 'Right now, it's a difficult market out there, and college graduates need to have the best approach and mindset to get their foot in the door,' Cohen told The Epoch Times. 'They need to be able to answer that million-dollar question, 'Why Choose You?' so they can get to the top of the list.' In her books, Cohen walks graduates through a three-step process of 'discover, develop, and deliver,' which involves a self-audit and determination of unique values. 'A lot of people step over the discover stage, but it's just like marketing a product,' she said. 'Personal branding is finding out your biggest asset that you can offer for a job.' Cohen noted that the next step is to broadcast the information to the right people. 'A lot of kids I've talked with send out hundreds of resumes but just aren't getting the results they want,' she said. 'The competition is fierce, and today, you're dealing with AI bots that are reviewing those resumes. You want to be sure to customize both your cover letter and resume, using key words listed in the job description.' Including any part-time work or volunteer experience is key to being considered for a job, Cohen said. She suggests potential job candidates create their own simple websites to showcase their work. Regarding interviews, Cohen believes in-person meetings are always better than virtual ones. If the job is located far away and virtual is the only option, her tips include having a clean background, dressing professionally, and looking directly into the camera at the interviewer. 'The most important thing is to be personable and create some common ground with the interviewer,' she said. 'You can't go in there like a robot.' Cohen also recommends sending a 'thank you' email within two hours after the interview. 'You want to be that one in 100 people—you don't want to be in the pack of 99,' she said. 'Enthusiasm and curiosity are always key.' Of those surveyed who have begun the job-seeking process, 41 percent have found a job. Of the students who have secured a job, 81 percent landed full-time roles, while about 20 percent will be working part time. More than 22 percent of the jobs were found through LinkedIn, 20 percent through their colleges' career centers or academic networks, and 17 percent through personal connections.
Business Journals
21-04-2025
- Business
- Business Journals
Americans open to looser teen labor laws amid tariffs, worker shortages
Many believe relaxing restrictions for younger workers could help mitigate higher costs associated with tariffs. Many Americans would support legislation to loosen work rules for teenagers if it would help lower price increases because of tariffs or to combat worker shortages. A new survey of 2,000 Americans by ResumeTemplates found 47% of respondents support employing more teenagers to keep prices down, and 51% said they believe companies should hire teenagers rather than migrant workers. Americans that supported employing teenagers over immigrants cited benefits to teenagers and an "America-first" philosophy. The desire by some to upend decades of labor laws for children and younger workers comes amid a burgeoning trade war after the Trump administration instituted blanket 10% tariffs on most imports, in addition to far higher tariffs on goods imported from China. The administration earlier this month paused another set of sweeping tariffs for 90 days. An aggressive crackdown on undocumented immigrants by the administration has also put White House officials at odds with the Supreme Court. "The Fair Labor Standards Act lets children as young as 12 work, but with safeguards to prevent exploitation and injury," said Julia Toothcare, chief career strategist at ResumeTemplates, in a news release. "Rolling those protections back risks exposing kids to dangerous conditions and unfair pay." About 30% of Americans say children under 16 who work should not be paid the minimum wage, while 8% say the minimum wage should only be for those 17 and older. "Paying teens less simply because of their age undercuts the purpose of wage laws," Toothcare said. "Fair compensation should apply to every worker." About 37% of those surveyed said they supported getting rid of at least some protections for teen workers, including: 22% said they would support removing limits on the hours minors may work 20% said they would support lowering the minimum working age 8% said they would support allowing minors in hazardous roles, such as construction or factory work States consider changes to child-labor laws The desire to use teenagers as a solution to workforce woes is not hypothetical. In Florida, the state legislature has advanced legislation that would allow children as young as 14 to work overnight shifts — they are currently only allowed to work until 11 p.m. and can't start work until 6:30 a.m. Nearly all restrictions would be lifted for 16- and 17-year-old workers. In West Virginia, lawmakers are considering legislation that would remove a requirement that 14- and 15-year-olds get work permits. The push to loosen child-labor laws predates the Trump administration. The Economic Policy Institute, in a report published this year, found since 2023, eight states have proposed eliminating permits for younger workers. The U.S. Department of Labor found that states without work permits for younger workers saw child-labor cases skyrocket. It is unclear how many teenagers would want to work any job that pays less than the minimum wage. Currently, the unemployment rate for workers ages 16 to 19 is hovering near a seasonally-adjusted 13.7% — lower than most periods over the past 50 years, according to the Federal Reserve Bank of St. Louis. While the rate dipped below that in the years following the pandemic, it is in line with where it stood in 2019. Before then, the last time unemployment for those ages 16 to 19 was that low was in 2000. The total share of workers ages 16 to 19 compared to the overall population hovers at about 32.4%, although that percentage has also risen over the past 15 years, from a low of around 25% in the wake of the global financial crisis. The share of teen workers compared to the overall population has overall been declining for decades as more teenagers have chosen to attend college over entering the workforce as a teen or after graduating high school. Prices on the rise because of tariffs CEOs have already started taking action to mitigate the impact of tariffs. Forty-four percent of the respondents to a survey by CEO coaching firm Vistage said they have increased prices since the start of the year, and 51% said they plan to increase prices in the coming months. One big area of concern has been — and will continue to be — the cost of construction materials and goods, a significant share of which comes from abroad. But if the economy tips into a recession, the odds of which economists say are heightened by Trump's trade war, commercial real estate dealmaking and activity will inevitably slow, too. Optimism among small-business owners, meanwhile, slipped in March, according to a survey by the National Federation of Independent Business, with 30% of those survey respondents saying they raised prices in March, the highest response rate in a year. Meanwhile, some six-figure jobs are drying up as companies brace for the uncertainty. For companies that want to raise prices but are unsure how to do it successfully, The Playbook has compiled advice from experts. For business owners figuring out how to brace for higher tariffs, there are some steps to take right now.
