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The Ultimate Guide To What To Do Once You Graduate College

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The Ultimate Guide To What To Do Once You Graduate College

You graduated college? This is it. Congratulations! Now what?

Graduating college is a major milestone for many young adults because it represents the final leap into adulthood, but what’s next after college?

This is a question that many recent graduates ask themselves and struggle to find the answer. Should you start work or do more school? Should you get a job or travel the world for a bit? Should you stay in your local city or move away? Should you start a business?

Society has a prescription for young adults when it comes to figuring out what they want to do in life:  Go to college, get a high-paying job with competitive salary and benefits, climb the ladder, buy a house, retire at 65.

The only problem with this is that it doesn’t guarantee true happiness and fulfillment.

Your early 20s are a time to experiment, to get to know more about yourself, and to figure out the kind of person you want to become.

It’s ok if you don’t know what the next step is. What’s not ok is choosing a path that you feel pressed into because of what society expects of you. If you are not sure of what to do next, then this is a perfect time to develop an intentional experimentation mindset where every experiment takes you closer to your true purpose and interests. Intentional experimentation is all about experimenting with a variety of opportunities. These experiments help you know more about yourself and find the right fit.

If you are struggling with figuring out your next step after college, here are a few options that you might want to consider:

Graduate School

This is a very personal decision and there’s no definitive right or wrong answer.

Graduate school is for you if:

  • You are clear on the field of study you want to pursue and have the time to commit to it.

  • Your employer pays for it.

  • You have joint undergrad and graduate school programs.

  • You have at least 2 years of work experience in your chosen field.

Graduate school is not for you if:

  • You are not clear on your field of study.

  • You don’t have the time to commit to a graduate program.

  • You want to get more experience under your curriculum to increase your admission chances and have a better learning experience.

  • You have other financial priorities.

  • You are exhausted and need a break from academic settings.

  • You just want to avoid the real world and prolong your “student” status.

  • You are being pressured by family, friends, or society.

What to do if you decide you want to apply to graduate school?

  • Before you apply, decide your professional goals and determine what you should study.

  • Research institutions and programs of study. Talk to experts in your chosen field of study and those who are attending the school and programs that interest you. Find out about admission requirements, tests, deadlines, financial aid, etc.

  • Visit potential schools, if possible.

  • Register and prepare for admission tests.

  • Look into scholarships, fellowships, or loan programs that can help finance graduate school.

  • If you are studying abroad, you might need to have your transcripts translated.

  • Draft your statement of purpose and application essays.

  • Request letters of recommendation.

  • Don’t submit your application unless you have prepared in advanced, done proper research, and have compiled all required documentation.

Searching for Jobs or Internship

It’s important to keep in mind that while getting a job or internship helps in building your resume and acquiring new skills, it can also have negative consequences if not done properly. It’s not about getting just any job or internship but about matching your skills, interests, and passions to meaningful opportunities.

Searching for jobs or internships is for you if:

  • You want to get work experience in your chosen field.

  • You are clear on the career path you want to pursue and want to experiment with different job opportunities.

  • You are not comfortable with going on your own and starting your own business.

  • You want to be independent and start earning your own money.

  • You want to improve your curriculum for graduate school.

Searching for jobs or internships is not for you if:

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  • You want to take time off to explore and get to know more about yourself.

  • You want to start a business.

  • You are not interested in joining the workforce anytime soon.

  • You don’t know what work ethic means.

What to do if you decide to search for jobs or internships?

  • Use your school’s career services office.

  • Join a professional development or industry specific group.

  • Create and optimize a LinkedIn profile.

  • Showcase your skills with an online portfolio.

  • Check out career fairs.

Traveling

Traveling is one of those things that if done right, it can completely change your life exposing you to new opportunities that might have not been in your perspective before. A lot of adults wish they had traveled when they were younger before entering the workforce. That’s because once work starts, in most places you only get 2-weeks out of the year to travel and that’s not enough time if you really want to travel and explore different cultures.

Traveling could be for you if:

  • You are not sure of the path you want to take in your personal and professional life and want to take some time off to travel and get to know more about yourself.

  • You want to take some time to volunteer and help others less privileged than you.

  • You have minimum financial obligations.

Traveling is not for you if:

  • You think traveling is about partying and getting drunk in different places. If this is your mentality, then you are not ready to travel and it will only become a waste of time if you do.

  • You have short-term financial obligations.

  • You know exactly the career and type of job you want to pursue. If you are clear on this don’t waste time and go ahead. Do it now!

What to do if you decide you want to travel?

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  • Talk to your family and explain that you want to take some time off to travel and explore the world. Even if they don’t agree with the idea, at least they will know what’s going on and not freak out because you’re not following the traditional path.

  • Decide where you want to go and for how long.

  • Determine your budget.

  • If you don’t have a budget, figure out ways you can generate some cash. Working abroad, freelancing, crowdfunding, volunteering, family, etc.

  • Book your transportation months in advance for cheaper tickets.

  • Find a place to crash. It could be a friend’s couch, hostels, and if your budget allows, hotels.

Immersing yourself in another place and culture is a learning experience that will totally change your perspective about life and it will last longer than any car or any piece of furniture you may purchase in your lifetime. It’s an investment in the life experience that your future self can only benefit from. Make the most of it and let it change you.

Starting a Business

If you are 100% sure you want to start a business and become an entrepreneur, this is the time to do it. There are many businesses you can start, particularly with the internet. It will be a very bumpy ride with ups and downs but you will learn a lot about sales, marketing, leadership, operations, branding, and most importantly, you will learn how to fail and get back up again (many times).

Starting a business is for you if:

  • You don’t want to get a job and work for someone else being told what to do.

  • You understand it’s a learning experience and you will fail many times.

  • You prefer to invest your time and money into real world experiences developing your ideas rather than traveling or graduate school.

  • You are ok with taking risks and stepping outside of your comfort zone.

Starting a business is not for you if:

  • You can’t handle the stress of starting and running a business.

  • You feel more comfortable getting a job and working for someone else.

  • You cannot commit to it 100% of your time.

  • You are not comfortable with validating your ideas and asking for money.

What to do if you decide you want to start a business:

  • Validate your idea(s) as quickly as possible with friends, family, and immediate network. If you can get at least three paying customers, you are on to something.

  • Come up with a catchy company name and concentrate your efforts on sales, marketing, leadership, and personal development.

  • Take care of your health no matter what.

  • Assemble your team.

  • Seek advice from mentors, develop a business plan, and seek funding.

  • Enjoy the ride!

Moving Back With Your Parents

While moving back with your parents might not be a right fit for everyone, it definitely has its advantages considering the steep costs of living on your own. Living at home can be a once-in-a-lifetime opportunity to learn more about yourself and build a stronger relationship with your parents.

Moving back with your parents is for you if:

  • You are not sure of the career path you want to follow and need some time to explore and get to know yourself better.

  • You are not ready to live on your own and pay expensive rent. The last thing you want to do is being stuck in a city and job you dislike just to afford rent.

  • You have no internships, job, or travel plans lined up.

  • Your parents are ok with you moving back home.

Moving back with your parents is not for you if:

  • You are absolutely sure about the place you want to live in and the type of career you want to pursue.

  • You don’t want to play by your parents’ rules.

  • You have a bad relationship with your parents.

  • You have job opportunities lined up and are too independent to move back home.

What to do if you decide you want to move back with your parents?

  • Set a time frame for how long you are planning on living there and the main purpose of moving back home. Do you just need a place to stay before you start graduate school? Do you need somewhere to live at until you can save enough money and move out on your own? Be very clear on this and check back with your parents once this timeframe is up.

  • Set expectations about money and things to do around the house. Talking about money and house chores might feel awkward but it’s important to remember that being clear on how things are going to work while you live at home makes the experience much more symbiotic. Are you going to pay for rent, food, and living expenses? Are your parents going to cover you 100%? How can you help around the house with some yard work or fix-it projects?

  • Don’t forget to build your own life. Just because you are at your parents’ waiting until you can move out on your own, doesn’t mean your life is on pause. Volunteer, date, explore new things, and do your best to continue learning and growing instead of just waiting for your first opportunity to move on to somewhere else.

Whether you decide you want to travel, start a business, get a job, do more school, learn new skills, or just take some time off, the most important thing you can do is to have a clear why. Ask yourself: “Why am i doing this?” The answer to this question will not only allow you to get to know yourself better but it will also give purpose to whatever it is you decide to do.

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Last Updated on January 27, 2022

12 Reasons Why You Should Consider Working in Singapore

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12 Reasons Why You Should Consider Working in Singapore

Nine out of 10 foreign workers are satisfied with working in Singapore, a recent governmental survey reports. Being ranked best for numerous criteria from best intellectual property protection laws to the easiest country to do business in, Singapore also receives a bunch of accolades for the overall quality of life, top education standards and efficient medical system, ranking the nation as the healthiest in the world. So, what exactly makes the City of Lions such an impeccable place to start your career or relocate your business? Here are just 12 reasons why you should consider doing it!

1. Singapore ranks second as the most globalized economy in the world

The Global Competitiveness Report 2014 – 2015 named Singapore as the world’s second prospering economy. By defining “competitiveness” as the set of institutions, policies and factors that determine the level of productivity of a country, the report claims to be the most authoritative assessment of the country’s prosperity and well-being. What does that mean for you and me? High wages, low unemployment rate, excellent work conditions and nourishing business development and investment climate.

2. Salaries are extremely lucrative

As the economy is booming, Singapore companies are hungry to acquire overseas specialists, offering top salaries and lucrative benefit packages to attract highly-skilled workers and talents. With a median salary of 3.500$ per month, software engineers can earn up to 72.000$ annually, whereas general practitioners usually receive around 80.000$ per year, according to PayScale. Elementary school teachers earn around 34.000$ per year and working as a waitress part time will bring you around 1100$ per month.

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3. Progressive personal tax system

Calculating and paying taxes in Singapore is extremely easy and usually takes around 30 seconds to submit your online tax return. If you already obtained a residence permit, your personal taxes in Singapore range from 0% if you earn less than S$ 22.000 per year to 20% for incomes above S$ 320,000. Non-residents are expected to pay a flat rate of 15% from all income gained in Singapore. In addition, all of your earnings gained overseas and brought to the country are not subjected to any taxes.

4. Getting a work/residence permit is really easy…

With a population of only five million, and dropping fertility rates, Singapore is highly interested in acquiring new residence and labor force to boost the country’s economy to soaring heights. If you already have a job offer secured, applying for a work permit would take only a few clicks on the governmental website and you will know the outcome within just one day. No lines, no paper bureaucracy and no huge list of supportive documents or blankly stated requirements. Their entire procedure is even simpler if you are a business owner wishing to relocate your business to Singapore, or a start-up entrepreneur wishing to develop your company within the island. You are likely to receive your work permit for a longer term, plus the renewal process is fast and simple. Residence permits are usually issued along with your work permit for the same period of time.

5. …And the same with permanent residence status

If you have lived and worked in Singapore for over a year and enjoyed your experience, you can start considering applying for a permanent resident card. Again, the whole process can be done online without much hassle or paperwork involved. Among the factors of a successful outcome, expats name young age (below 50), educational background (degrees obtained in Singaporean universities will earn you extra points), the industry you work in (again extra points to those who are involved in scientific research and working with innovative technologies), and your ability to speak one of the four languages. The processing time does take up to six months.

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6. The adaptation process goes easy

As English in the main working language you won’t experience the dreaded language barrier. The local society is an absolute melting pot of Chinese, Malay, Indian and British cultures with 42% of population being foreigners. There is a huge amount of expat communities and meet-ups, restaurants serving awesome foods from all over the world, and imported goods you are used to buying back at home. As expats say, “Singaporeans are generally very comfortable with diversity and have been very welcoming to foreigners” with rare case of racism or religion discrimination occurring. There are numerous international and English schools available, along with pre-school daycare centers, so your kids won’t experience much troubles either when changing environments.

7. Top notch higher education

If at any stage you feel like lacking relevant educational background or certain skills to get a promotion, you should consider getting a degree in one of the six Singapore universities. National University of Singapore currently ranks number one in Asia and 22nd in the world offering degrees in Arts, Law, Medicine, Computer Sciences, Public Policy and nearly any other profession in demand. Tuition fees for undergraduate programs range from S$ 28.600 to S$ 129,200 for medical degrees. However, all students (foreign or resident) can apply for governmental grants and tuition aid, cutting down the costs by 50%, as currently around 20% of government spendings go into education. If you are aiming at a top executive position, getting an MBA in Singapore will cost you S$ 58,000 full-time or part-time.

8. It takes three days to open a business

Being ranked #1 for the ease of doing businesses by World Bank consequently for seven (!!!) years, starting your business in Singapore is easy and fast indeed. The whole process is done online and your registration will be deemed completed within a few hours after you pay a registration fee of the S$65. Afterwards, you can either refer for further assistance to ACRA (Accounting and Corporate Regulatory Authority) offering you a huge selection of agencies and providers to handle all your business needs – from business start-up services to preparing all the documents for your annual returns.

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9. Singapore is rated #1 as the best labor force in the world

As your business grows and you feel it is time to expand, hiring new professional team won’t be much of a struggle. With expats and work migrants flooding the market, local labors are known for their effectiveness, strong work ethics and superb educational profiles. Filling in top executives and managerial positing will not be a problem either as the share of high-skilled professionals with relevant background rose from 27% in 2003 to 31% in 2013. Moreover, 25% of residents reported to have worked for the same company for 10 years, which means less personnel changes and headhunting.

10. Low crime rates and zero corruption

Currently ranked the 5th least corrupted country in the world, Singapore surpassed a long chain of reforms and law enforcement practices on the road to a bribe-free society. The Corrupt Practices Investigation Bureau has kept an eye on matters since 1952 and tries all cases according to strict Singapore laws with long-term jail sentences and huge fines up to S$ 100,000. Same goes towards any sort of crimes–even minor offenses are treated with extreme severity. Think: three months of jail and three hard cane strokes for painting graffiti on a war memorial. When living and working in Singapore you don’t need to worry about your belongings getting stolen, nor your life threatened. Besides, you don’t need to have any sort of “special connections” to do business and get through all the legal and bureaucratic procedures.

11. You can become a millionaire in less than 10 years

According to a recent report issued by Boston Consulting Group, over one half of wealthy Singaporeans accumulated the majority of their wealth in less than 10 years. That’s the quickest growing rate in the world. Now, Singapore boasts one of the highest millionaires’ density in the world with 8.8% of the population having assets over one million US dollars. The phenomenon exists due to the ease of doing businesses in Singapore, advantageous location with easy access to nearby booming markets of India, Indonesia and Malaysia and quick implementation of progressive new technologies.

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12. Absolute political stability

Obviously, your business and you as an employee do not exist in a vacuum and are highly dependent on governmental policies and law-making. The Singaporean government is known for conducting open and fair policy towards constantly introducing new laws, tax relieves, and regulations to enhance the countries’ business environment even more. With the People Action’s Party forming the majority in Parliament since 1965, Singapore has a very stable and orderly government indeed.

Featured photo credit: Larry Teo via unsplash.com

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