How much more expensive childcare is than getting a higher education

How much mora expensive childcare is than getting a higher educationHow much more expensive childcare is than getting a higher educationUnemployment in the U.S. is now hovering around itslowest pointin almost half a century, and pretty much anyone who wants a job right now can get one. But heres one segment of the workforce that may bedrngnis be experiencing the benefits of growth new parents. In fact, childcare is so expensive that in many states around the country it costs more than getting a college education.Click to enlargeA new report fromChild Aware of Americacompares the average annual center-based childcare costs for infants across the U.S. with the average annual tuition and fees at public universities. Child Aware of America is a nationwide nonprofit focused on reducing the costs associated with childrens learning in childcare. They relied on their own survey results from January 2018 to calculate childcare costs, and they tapped theCollege Board Trends in College Pricingf or tuition numbers from 2017. We placed these figures on a map to visualize the differences by region, letting you see in a straightforward way the states and regions with the biggest problems in affordability.Heres a stunning fact. Dropping your kid off at daycare costs more in 28 states than getting a college education (data was not captured in Montana and South Dakota). The problem is most readily apparent across the Northeast and West Coast. In fact, the state with the highest disparity is Massachusetts, where childcare costs an astonishing $7,683 more on average each year than higher education. California is not far behind with an average difference $6,862. Its even more expensive in Washington, DC where new parents can expect to spend $23,666 on childcare but only $8,060 on tuition for a public university.The numbers dont look as bad across the middle section of the country. College is slightly more expensive than childcare in states like Illinois ($147) and Oklahoma ($88). An d the most favorable numbers are clustered around the South in states like Mississippi ($2,681), Arkansas ($1,827) and Louisiana ($1,762).But even in states where childcare costs less than college, there really isnt any good news. In truth, these numbers reflect a two-part crisis in affordability. New parents struggle to pay for high-quality childcare just like they face problems for high-quality public education. Keep in mind many parents opt for private childcare that they pay for on their own. The same qualification applies to higher education, where private tuition costs are often much higher than whats available at a public school. Thats why the IRS provides for several tax-advantaged savings accounts, including theDependent Care FSAand the529 Plan. Its also related toPresidents Trump proposalfor 6-weeks paid parental leave. And in fact the prohibitive costs associated with childcare are a major reason why some parents decide to stay home with their newborns as opposed to retur ning to work. And high costs are also a major reason why young people take outmassive loansto pay for college, or skip it altogether.All of this suggests that if you want to start a family and eventually send your kids to college, its never too early to start saving.DataTable 1.1This article first appeared on How Much.

How to Effectively Mirror Your Job Materials to the Posting

How to Effectively Mirror Your Job Materials to the PostingHow to Effectively Mirror Your Job Materials to the PostingHave the many job advertisements you skimmed in the last day or week started to blur together? Its easy for that to happen because they typically share a common format 1. A brief description of the company. 2. The name of the open position and a short paragraph giving a snapshot view of the role. 3. A more detailed bulleted list of various responsibilities associated with the position. 4. A list of qualifications, skills and experience required of well-qualified candidates. 5. Required educational background. 6. A call-to-action button to click and begin your application. Moreover, they often utilize common language to describe their ideal candidate, such as excellent communications skills, self-starter, team player, top producer, etc. And at the end, virtually every ad will proclaim the employers policy of nondiscrimination against any legally protected class of individuals. Whoa Youve just experienced the flip side of the moleidony thatrsumscreeners go through everyday as they seersumsthat use standard templates offering tired language that really does nothing to convey your unique story. While you likely put in many hours preparing and writing yourrsum, unless you distinguish yourself with unique content,reviewers will have little reason to pull your clichd document from the pile. Just as you want to be considered as an individual, any employer legitimately only wants to focus on job hunters who have thought about the offeredposition and share a unique story that demonstrates their relevant experience and potential value. Why would any employer be impressed when they realize that it isnt their particular job that drew your attention, but rather just the prospect of getting any job with an attached paycheck? It doesnt take much even for a rookiersumreader tofigure out whether your cover letter relates to the job and company, or if it appears theyre just one of many recipients of the same cover letter andrsum. To enhance your chances, step back and see what is different about every job position youre considering. Many companies employ the same kinds of people to fill more or less the same role. But still, there are differences in size, location, place within their industry peer group, branding, quality of goods or services sold, etc. As you tailor your cover letter to each position, lay out the ad for comparison1. Introduction. Your personal branding meinung and self-introduction parallels the companys self-description. Just as a company isnt simply the sum of its products or services, you arent simply the total of your skills and education. To stand out, show what is different about you. It might have something to do with a unique blend of skills, your perspective on your industry or something else in your background.2. Treetop view. Just as the company gives a short description of the role to be filled, your cover letter should give a short description of the roles youve had and relate your background to the particular needs expressed by the position description.3. Responsibilities. While employers speak of a jobs responsibilities, they arent interested in hiring your current or former job description. You have the obligation to patiently explain how you have fulfilled your current and prior responsibilities. What skills, software or strategies did you employ? What were the results? Just because you have done exemplary work in the past doesnt mean you have a right to have people assume that about you. Instead, spoon-feed the accomplishments youve attained, the accolades you have received and the change that has taken place.4. Qualifications and skills. Take pains to carefully examine everything in the ad that describes particular skills required, and make certain you list all those you possess in a skills section at the top of yourrsum.5. Experience. The job ad will describe the expe rience necessary. Your cover letter can sum that up to demonstrate how you have what theyre looking for. In yourrsum, make sure the various bullet points focus not just onwhat you think you have done of note, but rather what you have done that the particular employer at hand wants you to have done. 6. Education. Obviously, different jobs have varying levels and kinds of formal education and degrees required. Yourrsumshould clearly identify the degrees you have earned, and where you earned them. There is a legitimate debate aboutthe value or hindrance of including the date you received your degree if you are olderthanforty-something years old. This author comes down squarely on the side of listing dates for reasons that he has written about in other columns. Take time to wade through the gibberish of a job ad and discern the key concepts and words that describe the role, the responsibilities and the opportunities presented. When you mirror all these in your cover letter andrsum, you willshow yourself to be that person the employer cant wait to meet and bring onboard. Happy hunting

The Average Size of Signing Bonuses

The Average Size of Signing BonusesThe Average Size of Signing BonusesSigning bonuses are special monetary inducements for highly-valued recruits to join a firm. In addition to a lump sum payable upon the start of employment, they also may include additional payments after the new hire has met certain performance targets. Signing bonuses are fruchtwein frequently utilized by financial services firms to lure experienced from the competition. Signing bonuses are an especially common device used by brokerage firms to augment their ranks of financial advisorsby signing experienced FAs who have built large, profitable books of businesselsewhere (but subject to The Protocol for Broker Recruiting). Signing bonuses also are often employed to recruit top investment bankers. Signing Bonus Average Size The size of a signing bonus, when offered, can vary greatly depending on the firm making the offer, the perceived value of the producer and book of business that it seeks to acquire, and the current competitive climate, especially what other firms are offering to lure similar talent. For seasoned financial advisors who are recruited via signing bonuses, it is not unusual for the amount to be around 100% of prior years total compensation. In 2009, press reports indicated that some firms seeking to shore up the ranks of their financial advisors were offering over 300%, including incentives linked to performance over several years. Signing Bonus Average Structure A firm offering a signing bonus must guard itself against the possibility that the new employee soon will leave to accept another offer elsewhere, and/or that the employee will fail to perform up to expectations. To protect against these risks, recipients of large signing bonuses often must sign legal documents acknowledging that the amount received represents a loan, and that the loan is repayable if certain conditions have not been met, such as remaining with the firm for a specified number of years and/or meeting certain performance goals over that time period. As performance goals are met, or as years of employment pass, the terms of the agreement usually specify that the firm will forgive a portion of the loan, giving the employee the legal right to keep that sum, which then becomes taxable income to that person. Signing Bonus Trends The Institute of zwischenstaatlich Finance (IIF), a financial industry lobbying group, has tracked bonuses at leading financial institutions since 2007. The 2010 IIF survey of 37 firms (Banks are cutting use of bonuses to recruit,Financial Times, 9/3/2010)indicated that they were offering fewer guaranteed bonuses as a means to lure top talent from the competition, especially investment bankers. Largely due to pressure from regulators, multi-year guarantees went down sharply in the aftermath of the 2008 financial crisis. Key findings of the IIF report were Guaranteed bonuses were 5% of all bonus payments at these firms in 2009, 10% in 2008 and 8% i n 2007.The percentage of guaranteed bonuses paid out in just one year was 99% in 2009, 92% in 2008 and 91% in 2007. However, a subsequent article inCrains Detroit geschftsleben(Demand for accountants brings rising salaries, bonuses, July 20, 2014) indicates that 74% of all companies in North America offer signing bonuses, up from 54% in 2010. In professional fields such as accounting, the figure is 89% of all employers. In accounting, the average signing bonus is between $5,000 and $10,000, with bonuses at the Big Four going up to $15,000.