J U M P ·· A R O U N D
DEFINE WHO YOU ARE ·· MASTER NETWORKING ·· CHOOSE YOUR WORK ADVENTURE
PRACTICE WHAT YOU PREACH ·· TAKE A MENTAL BREAK
INTRODUCTION
Now that you know who you are, what you want, and how to network your way to those things, now it’s time to choose a work path.
Before accepting a job, you should understand the type of business you’ll be working with, your employment type, and how many hours you’ll spend working.
WHAT YOU CAN EXPECT
- Business and employment type breakdown
- A work path + lifestyle quiz
- Adulting tips and tools
Business Type
- Corporate: Usually a big company that has 500 and 10,000 employees. It could be more! Corporations offer you the opportunity to meet a lot of people, learn a set of skills or a specialty in a stable environment, and build up a support system (i.e. mentors).
- Startup: Startups are usually small and only have a few employees. Some startups don’t have a defined business model or adequate funding, and they’re trying to bring a new idea into the market. Others, are well-funded and are trying to scale/gain traction in the market. Startups offer you the opportunity to explore, wear many hats (as opposed to specializing in a particular skill), and learn very fast.
- Entrepreneur: As an entrepreneur, you’re out on your own. You own your own business that offers a service or product. You could employ others, or work alone, the choice is up to you. As an entrepreneur, you have the opportunity to learn about whichever industry you’d like, you also wear many hats, and control how and what you do to make a living.
Employment Type
- Employee: As an employee, you use your skills and talents to work with a company to help them keep their operations going. Most employees work full-time, but you can also be offered part-time employment.
- Contract: As a contractor, you work with a company on a limited-time basis to help them solve a specific problem. Contract work can be full-time or part-time.
- Freelance: As a freelancer, you normally provide a service to companies or individuals. You are normally self-employed but work on an extended contract or one-time basis.
- Self-employed: This is very similar to freelance work. However, here you’re working on your own business, as opposed to working for someone else’s company.
Your Hours
- Part-time: 20-30 hrs/wk
- Full-time: 40 hrs/wk
“Work Path” Resource: Glassdoor’s “What Job Best Fits Your Life?”
Struggling to choose a course of action? Take Glassdoor’s quiz to learn more about what type of employment best fits your current (or dream) lifestyle!
ADULTING: SOME HARD TRUTHS & RESOURCES
I’m no expert, but I’ve learned a few things while #adulting. Here are a few things you should learn more about before choosing your work path.
Health Insurance:
- It’s wildly overpriced, and it can take some time to understand all of its layers! But it’s important to understand it.
- In the state of GA, most people can stay on their parent’s insurance until the age of 26. After that, you have to get your own plan.
- Most people get their insurance through their employers. (which is part of the reason why people choose the corporate route.)
- There are options to get it independently at a discount, but this depends on your personal situation.
- Do research to figure out which options are the best for you.
Taxes + Starting a Business
- If you make $12,950 or more you have to file personal Federal taxes (as of 2022).
- If you make more than $9,750 you have to file personal GA state taxes (as of 2022).
- Consider starting an LLC, or another type of business if you go the freelance route. This opens up the possibility of tax deductions.
- It’s important that you learn as much about tax deductions as you can.
Personal + Business Budgeting
- Learning how to manage and budget your personal and business funds will become extremely important.
- Use the 50/30/20 formula to get started with managing your personal funds, and change it according to your personal preferences.
- Build out a separate small business budget to help manage the money that comes in and goes out of your “business” (if you’re operating as a freelancer and you choose not to start an official business, you should still keep track of this as if you are operating a business.)
- If you’re freelancing, it’s important to set the right rate! Check out this Freelance Rate Calculator to help you nail down your rate.
J U M P ·· A R O U N D
DEFINE WHO YOU ARE ·· MASTER NETWORKING ·· CHOOSE YOUR WORK ADVENTURE
PRACTICE WHAT YOU PREACH ·· TAKE A MENTAL BREAK
