Making the Financial Transition from Student to Professional
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Obtaining that first professional job and keeping your debt low


This concept contains two main areas:

  1. Obtaining a good job with a compensation package that reflects your worth.
  2. Keeping your debt low while still in school and establishing good financial management habits.
In today’s world of education and continuing education the trend of the “traditional” student is decreasing. More individuals are delaying entry into college or re-entering college due to career change or employment necessity. This concept addresses both the traditional and nontraditional student. However, for the traditional student the time to start these good financial management habits is when you start college.


Career/Employment considerations


These suggestions will enable you to avoid the entry-level stigma and help to negotiate a compensation package that matches your skills, abilities and capabilities.


  • Thoroughly research employment options regarding the degree that you’re achieving.
    • Keep in mind that with the speed of changes in the U.S. job market in 10-15 years from now, many new graduates will be working in positions that have not been invented yet.
    • What you have your degree in does not always correlate to your chosen profession.
    • Be true to your desires and value system; don’t let money or status be the primary motivators.

  • Work in part or full time jobs that relate to your degree while you’re still in school.
    • This is applicable to both traditional and nontraditional students. Nontraditional career changers need to gravitate to their new careers at this stage.
    • Type(s) of job(s), employer or length of tenure with your employer are all factors for employment marketability upon obtaining degree.
    • Choose employers that have a good continuing education/employee development program. You may qualify for tuition reimbursement.

  • Aggressively pursue internships that will enhance your career portfolio.
    • Take challenging internships.
    • Participate in more than one internship and show a pattern of success and progression.
    • Consider internships within your employer (different division, department or special projects). These may be paid experiences and completed within your scheduled work hours. Be creative!

  • Join professional associations in your chosen field (you’ll benefit from student rates for membership dues and events).
    • This is the best way of finding out what’s really involved in this field. You’ll be able to see the current trends and opportunities within professions, fields or industries.
    • Nothing beats opportunities, exposures or experiences at local, state, regional or national conferences.

  • Schmooze with the professionals in your field of interest; let yourself be known.
    • As a “student” you’ll be given more latitude in asking questions or networking for information. After all, you’re just a student.

  • “Test the waters” before getting your degree and pursuing employment.
    • Internships, job shadowing and/or working in jobs related to your desired profession will provide actual hands-on experience for the job. No matter how good the classroom experience is, it cannot compare to hands-on experience.
    • If you decide to change focus or majors after the internship, you have achieved success.

  • Leverage yourself for the justification of the higher salary that you’ve developed based on your worth and be able to back it up.
    • I am worth “$X” because… (Followed by tangible and quantitative items)
Debt considerations for college students


There are only two types of acceptable debt;

  • Debt incurred for increased skills or education
  • Real estate acquisition
These are the only areas that appreciate in value, not depreciate. However, the goal remains constant; keep it as low as possible.


Develop and practice successful money management from the start.


Many students graduating from college today have credit card debt equal to their student loan debt. (Suzy Orman, “Young, Fabulous and Broke”, 2005.


Key Factors in Starting on the Right Path

  • Establish a good credit history
    • Yes, get a credit card, use it wisely and pay off the balance every month!!!
    • Your credit rating will follow (or haunt) you for your entire life. Establish a good one and keep it.
    • Poor use of credit will hinder you in obtaining employment in certain fields or industries.

  • Practice self-discipline
    • Determine wants versus needs!
    • What are you spending your money on?
    • Do not succumb to peer pressure (you’ll have to pay the bill; not them).
    • You can dress for success on a limited budget.
        The three stages of shopping:
        1. Shopping for it; the fun part
        2. Buying it;
          • Plastic - still fun
          • Cash – reality

        3. Paying for it when the credit card bill comes; reality “bites”!
Starting out your professional life in deep debt upon graduating from college can influence your decisions. You may be rejected for a job if the credit check reveals high debt, late payments or nonpayment on credit card, rent, utilities, etc. Those in the most peril are accounting or business management graduates, or those who apply for a position where anything financial is part of the job. Yes, this would include office management. After all if you can’t handle your own money; how can manage theirs?


You also run the risk of taking a position just for the money, then be “stuck there” and experience job dissatisfaction. This will obviously begin to affect your performance and performance reviews and you get caught in a vicious cycle. Don’t start your career that way!


Everyone must start developing good financial management while they are still in school. You will have sound habits that are needed in today’s workplace environment and also achieve personal balance.