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The Labor Market A young alum’s perspective Colin McIntosh, 10/17/2014 @ColinDMcIntosh, @EmoryGoizueta

Labor, Automation, and How to Get a Job

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An honest, no-BS look at the current labor market, the long-term outlook on labor, and how you can find a job today. Presented at Emory University's Goizueta Business School on 10/17/2014 by 2012 alumni Colin McIntosh.

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  • 1. The Labor MarketA young alums perspectiveColin McIntosh, 10/17/2014@ColinDMcIntosh, @EmoryGoizueta

2. Resume Screens If youd like me to quickly go over your resumein front of the class at one point in the lecture,email [email protected] with yourresume in PDF format.Will help you figure out how employers screenyour resume, and what you can do toimprove it. 3. Who am I?Emory 2012BBA from GBS, Finance and LawEconomics at Emory CollegeHedge fund Recruiting Tech startup 4. 2008 2012 2014 5. I give unsolicited advice 6. Why Im hereLabor market trends (mildly interesting)Long-term labor (mildly bleak)Non-BS job hunting tipsWhat I wish they had told meLast thoughtsQ&A 7. The Labor Market 8. Unemployment TrendsBLS shows 5.9% unemployment (lies)Real unemployment closer to 13%Marginally attached, discouraged, part-time,underemployed 9. U6U3Source: U.S. Bureau of Labor Statistics 10. Corporate Profits Thanks, Obama 11. Income TrendsAfter adjusting forinflation, U.S. medianhousehold income isstill 8 percent lowerthan it was before therecession, 9 percentlower than at its peakin 1999, andessentiallyunchanged since theend of the Reaganadministration.Source: FiveThirtyEight.com 12. Best Starting Salariesby MajorTop 10 are all engineering (sorry Emory :P)Top 23 are all STEMSEcon is #28 ($50,100)Math is #30 ($49,400)Source: thinkadvisor.com/2014/05/27/30-best-paying-college-majors-2014 13. Worst Starting Salariesby MajorBottom 30 include: Liberal Arts ($36,900)Psychology ($36,300)Anthropology ($36,200)Public Health ($35,900)Elementary Education (#2, $32,200)Child & Family Studies (#1, $30,300)Source: thinkadvisor.com/2014/06/03/30-worst-paying-college-majors-2014 14. Best Starting Salariesby DisciplineSource: forbes.com/sites/susanadams/2013/09/20/the-college-degrees-with-the-highest-starting-salaries/ 15. Fastest-growing Cities1. San Jose, CA2. San Fran, CA3. Austin, TX4. Raleigh, NC5. Houston, TX6. Nashville, TN7. New York City8. Orlando, FL9. Dallas, TX10. Denver, CO11. Fort Worth, TX12. San Antonio, TX13. Salt Lake City, UT14. Charlotte, NC15. Seattle, WASource: forbes.com/pictures/edgl45gfih/methodology-21 16. The Future is Now 17. Automation 18. Long-term outlookHow are you thinking about yourcareer?1 year? 5 years? 20 years?Which jobs are safe?Which jobs will be automated? When?When will you retire? 19. Bots Bots (hardwareand software)dont need tobe perfect They just needto be betterthan youHi, Im Baxter 20. Low-skill Labor is FirstTransportation 3.6 M jobsCashiers 3.1 MConstruction 2.5 MJanitors/cleaners 2.2 MWaiters 2 M 21. Yeah, but What aboutWhite Collar Workers?Automation engineers are replacing youwith softwareBots can teach themselves what to do justby watching or readingNYSE largely automated at this pointPaperwork, data-based decision making,writingWho wants to be an accountant? 22. Ok, but ProfessionalJobsAgain, bots wont be perfect. They justhave to be better.Automated discovery = fewer lawyersMore accurate, faster diagnoses =fewer doctors 23. Doctor Bots IBMs Watson treats lung cancer patientsWhat is better?Sanjay Gupta estimates that medical mistakeskill 200,000 Americans per yearHumans doctors limited by research intake andpersonal experience; a network of bots is notRobots already used in surgery, drug testing,and diagnosisSource: nytimes.com/2012/08/01/opinion/more-treatment-more-mistakes.html 24. Creative JobsA poem-based economy?Creative industries depend on limitedtalent, limited success, and large fanfollowingsMachine-made art, music, poetryalready commonplaceGetting better every year 25. Man vs. Machine1 2 26. So What to Expect? 27. SorrySocietal shift doubtfulAutomate, or get automatedTake CS courses, Codeacademy,CourseraSavings and investment 28. What I Wish They HadTold Me 29. Resume Building To-dosOne pageNo objectiveInclude GPA and test scores (if good)Format appropriatelySave as Firstname Lastname ResumeSave and submit as a PDFRelevant and useful skills 30. Resume Building To-never-ever-dosSpelling and grammar mistakesWall of textFunky designs youll miss what youregoing for 31. Cover LettersSomewhat uselessBest format: short email, not PDFattachment (unless specified)Short, sweet, specific, enthusiasticNever cookie cutterNews flash: employers can tell 32. How to ApplyOne job per companyFollow-ups OK after 2 weeks of no news,or to update themLeverage Emory connectionsSubmit work with your application 33. InterviewingBe friendlyResearch Glassdoor.com, LinkedIn,company blog, etc.PracticeCulture fit?Dont sweat logistical stuffRelaxGood questions 34. NegotiationDont sweat itBut dont blow itFocus on job fit first, then compDifferent people, different valuesTake Negotiations if you havent yet 35. GeographyQ: When can you move to _______?A: Well, when would you need me tostart?Dont get hung up on locationFocus on career and goals first, locationsecond (generally speaking) 36. Where to Apply? EagleOps isnt the only job board Angel.co Startup jobs Glassdoor.com Generally high-quality LinkedIn Huge growth in recent years Monster List your resume. People will email you. Indeed Very high volume, bad UX Hired.com Mostly tech, but its the future. Recruiting agencies Theyre your friends. Use Google. Google Create a solid LinkedIn Employers will find you in the future. 37. SMEsCheck out smaller companiesHappier to have youMore responsibility, more advancementBig companies poach from small ones 38. ConnectionsNetworking is everythingCareer fairsAlumni mentorsFriends, classmates, people at barsStay in touch despite rejection 39. How to Blow aConnectionColin,My name is _______, and seeing that I received your email address from_______ without having met you in person before, let me first introducemyself. I am a _______ at _______ from _____, and both the current_________ and ________. From what I know we have much in common.Working as a _______ ______ position in a firm dealing software is anexperience that aligns with my professional goals, but I need to ask a fewquestions before I can submit my resume. First, I'm curious to know howyou have enjoyed working at Spoon.net thus far. Also, how long is theinternship and when does it start? I have a few things planned so I want tomake sure I can do it. On the real though, I'm no saint. It's in Seattle so I'massuming they don't drug test? Had to ask. Lastly, to your best estimationwhat is the applicant pool size and how many positions are available?Thanks again.- [Name redacted] 40. Things to Think about My TakeThe New NormalEmployers have their pick of the litterHR waits months to hire perfect personLong hours, less overtime, fewer coworkersAgeism 41. SexismPredetermined job fitAssumed intelligence levelDifferent descriptors for similarperformanceCondescension / marginalization 42. Job Fit & CultureCulture is massively importantWhere have I been?Entry-level candidates can stand out iftheyre a culture fitHow do you find out the culture?Research, blogs, social media, LinkedInprofiles, company mission, ask aroundMcKinsey airplane test 43. DONT BE AN ASSHOLEhttps://en.wikipedia.org/wiki/The_No_Asshole_Rule 44. Questions? 45. Thank you!Keep in [email protected]/in/colindmcintosh@ColinDMcIntosh