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Home » Business And Finance Articles » Career Fairs Best Serve Everyone But The Jobless

Career Fairs Best Serve Everyone But the Jobless

Reading my Sunday newspaper yesterday reminded me of how Career Fairs do little to substantially increase local employment. It seems that no one is willing to say this, and a lot fewer are even willing to believe it, but I know it to be all but a fact.

After spending 20+ years in the news business, and another 20+ years as a personal marketing specialist helping potential hires by writing upscale resumes, I can relate my experience with authority.

You might think that after helping 5,300+ clients get on with moving on and moving up in their careers that I could produce at least one client who has benefited from attending a Career Fair. I can not. This is why I caution any client who gets all excited and goosey about attending Career Fairs. I do not want their disappointment to affect my marketing plan to help them achieve their goals.

In revealing this apparent incongruity for the first time publicly, it is important to note that I am in the high end of the resume writing business. Virtually 97% of my 5,300+ clients during my 20-plus-year career are executives, professionals and managers earning between $40,000 and $350,00 annually who are already in management, want to be in management, or in sales and/or marketing.

Career fairs are all about first jobs and entry level career jobs that do not pay all that well, so they do little for folks who have already been in the marketplace, enjoyed some success, and want to keep moving up the corporate ladder, or any other ladder of their choice.

This makes a lot of sense when you examine who is involved in putting on Career Fairs, and what they expect to get for their investment. I am not talking about the potential hires, or anyone looking for a job or a better opportunity.

I am talking about businesses and organizations, large facility managers, and big advertising media, usually the dominant daily newspaper in the community. Nothing meets their profit needs, their publicity needs, and their public service needs like Career Fairs. It has become almost a rite of passage for these special interest groups in our society.

Let us start with businesses and organizations. Should you stroll down to a Career Fair in your community, and talk to a business representative at a snappy booth display, you will quickly pick up on the fact that the well dressed person is not the person you expected.

You knew going there that if Microsoft was a participant Bill Gates would probably not be there, but you secretly hoped he would. Later you came to realize that the person a major corporation sends to represent them at these Career Fairs is usually the most expendable person available.

This is why they smile a lot, take your resume (sometimes they do not), and tell you very little about what the company is really doing. Major companies that are cooking the books (using unacceptable accounting practices to inflate revenue and profits in order to increase stock prices so executives suck money out faster), and in worse shape than they want their stockholders and the public to know, would be at a Career Fair putting on their best face.

Just being at a Career Fair is good business for businesses and organizations because it gives the impression that those involved are key players in building the community, increasing employment, and acting like a good corporate citizen.

If you think large facility managers do not like Career Fairs you would be sadly mistaken. The same managers who hosted last week's rock concert du jour are more than happy to move the rockers out and the new vendors in.

Facility managers do not give the space away as a public service, and they do take care of the "job" exhibitors. Whether any potential candidate attending the Career Fair ultimately gets hired is none of their business.

Newspapers and related media (usually radio which needs public service announcements to stay licensed) love Career Fairs. The Internet has been gaining the advertising and profits that newspapers have been losing. Newspapers have been forced to create web sites and compete on the Internet whether they want to or not.

Career Fairs give newspapers extra ads and profit regardless of the economy. Newspapers generally run a special section advertising the Career Fair as it gives paying advertisers and the event itself more exposure and prominence. Newspapers also feel a need to serve the community that supports them, whether people get hired at these Career Fairs or not.

You are seeing more and more and more Career Fairs (or Job Fairs) because it is good business for three very big special interest groups who may be more like a three-legged stood than a helping hand. You could hold Career Fairs for the unemployed every other week in Flint, Michigan and it still would not affect their depressed economy; I suspect that the same is true in many other communities across the country.

When your government tells you employment is on the rise, public officials are counting on the fact that when an unemployed person's compensation benefits run out, they drop off of the rolls and remain unaccounted for even though they are still unemployed.

The salient point here is this: It is likely that when people benefit from these Career Fairs it is more by accident than design; the unemployed in our economy are the true story worth telling.

And here is another random article you might be interested in...

Is a Home Equity Loan Right For You?

Home equity loans are an extremely popular source of credit. Lenders offer dozens of varieties of loans making it very easy to tap the equity in your home. If you browse the marketplace online, you will find most of these loans come with variable interest rates. Some loans are marketed with very low introductory interest rate. There are not many home equity lines that come with fixed interest rates. Many lenders charge upfront fees and large amounts at closing. Some equity loans charge annual fees and may have a large balloon payment due at the end of the loan. Equity loans that do not carry balloon payments typically come with much higher monthly payments.

As a homeowner you need to shop around for the best home equity loan that is right for you. The challenge is finding a lender that will match your needs for the best interest rate, fees, and terms. Fortunately, the marketplace is extremely competitive, and a shrewd shopper can find excellent deals. To do this you need to contact as many lenders as possible. Compare offers not just based on interest rates, but compare the fees and terms as well. Make sure you read and understand all the fine print contained in your loan contract. Don't be afraid to ask questions or haggle over terms and stipulations. Mortgage lenders need your business more than you need theirs. Demand more from your mortgage lender and you'll be amazed how far it will get you.

Before shopping for a home equity loan there are several questions you need to have answers for.

First, is a home equity line of credit right for you?

If you are in a situation where you have to borrow money in a hurry, home equity lines are a great source of credit. Home equity lines of credit offer easy access to your home equity and even tax advantages you won't find with other loans. The downside of tapping the equity in your home is that you are using you home as collateral on the loan. If the equity loan you choose comes with a large balloon payment at the end of the loan, you could place your home at risk if you are unable to make the balloon payment. If you move and need to sell the home most equity loans require full payment at the time of sale. Many home equity lines allow you to write checks against your equity; this ease of access to your money could lead to spending when you don't need to. If you are not careful you could piddle away the equity in your home with frivolous spending.

There are options available to you other than home equity loans. If you take out a second mortgage on your home you are paid in a lump sum. Second mortgages usually come with fixed interest rates making them less risky than home equity loans.

Second, consider how much you really need versus how much you can borrow.

Your home equity lender will evaluate your credit history along with your income and debt ratio. Depending on the outcome of this you may be allowed to borrow as much as 85 percent of the value of your home. Make sure you fully understand the loan terms and how the loan works.

Interest rates from home equity lines vary widely between lenders. You can save a lot of money by doing your homework and shopping from a wide variety of equity lenders. Make sure you are comparing the annual interest rate for the loans. The interest rates lenders advertise are based on interest paid. To make an accurate comparison compare all fees, including closing costs, points paid up front, and any annual fees you must pay. This will allow you to make an informed decision on a home equity line of credit or a second mortgage loan. Remember loans with variable interest rates typically come with a low introductory period. When this period is over your interest rate and payment amount could increase dramatically. Taking out a second mortgage with a fixed interest rate could shield you from surprises in your monthly payment amount.

If you decide on an adjustable rate loan, make sure you understand the periodic cap. This cap limits the amount your interest rate can change at once. Look for loans that come with lifetime caps as this will limit the amount your interest rate can change over the life of the loan. Ask your lender which index your interest rate is tied to. Indexes such as the prime interest rate are used to set your adjustable interest rate amount. Your lender will charge a margin on top of this index when setting your monthly payment amount. Finally, ask your lender if you have the option of converting to a fixed interest rate at a later time. If you do your homework up front and shop around, you can certainly find an excellent home equity or second mortgage for your financial needs.