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Everybody good morning happy Tuesday I should say bad morning take a look at the big board on Wall Street and you can -- the damage the Dow Jones tanking 234.
Points it was down more than that -- -- sea of red.
Is losing today even oil prices down nearly three bucks so.
Huge sell off on our hands we're hearing from many corporate titans out there -- many Dow components citing the word uncertainty on the third quarter.
Balance sheets -- the third quarter earnings report cards and that's kind of contributing to this.
Down sentiment in this pessimism out there after today's closing bell we hear from Facebook's anatomy an interesting story for tomorrow but today's Tuesday so -- On the job hunter looking to switch jobs or just need some advice we are here -- -- today and let's kick things off with -- Driscoll.
Reporter for us in Atlanta how are you -- Hey Lauren thanks for having me and is a big question myself included that that people last is a master's degree worth that is worth the investment will it pay off in the end so I ask you the very broad and popular.
Question Amelie is an ass is bigger -- that.
Well we're seeing now recent survey just came out with the National Association of Colleges and Employers that show that going back for a higher degree can result in a big payoff later mind.
We've guy it's.
Average starting salaries fluctuating between twenty or more than 20% between bachelor's and master's degree holders.
I and also the unemployment rate is slightly lower for a master's degree holders it's about three point 6% as it has to four point nine -- bachelor's degrees so.
There is a potential.
The potential for higher salary.
We may I got it I I agree and it's nice to see that the -- -- show it.
Now I would imagine that around in certain careers may need to break this -- -- -- for assembling.
Certain industries need to computer science.
You will make me thirty or more percent more if you have that masters as -- -- just -- four years of great.
Great computer science as you said also elementary education and the master's degree can earn up to you with 30% more than their bachelor's degree counterparts so.
The thing is you really want -- research before hand what your field.
Can resolve it when going back for master's degree if if that.
Works for your field because you don't want to just go back just for the sake of going back so it's really gets you.
Do some thorough research before -- and yeah exactly and and it's not cheap to get a master's degree cracked.
No no it's not cheap at all -- break down some -- the prices for us.
Yeah absolutely definitely have to consider the financial costs of this on two year MBA programs can cost upwards of 8220000.
Say you also have to think about the student -- you're going to have to take out on the interest rates on those on and the leading a high paying job at the end of your graduation is is crucial to being able to stay afloat financially speaking again many -- -- saying let's just get the master's degree now because it'll buy us time and hopefully the job market it'll improve in the meantime -- -- -- by doing -- Ray and one thing you have to think about is the opportunity cost here on whether -- in your program.
Pray you might have to leave the workforce for eighteen years -- you really have to weigh out.
What your potential future earnings could be if in association with school losing out on -- your salary plus the cost of school all but.
Faithfully a lot of programs these days whether they're nighttime programs whether their online classes.
They actually can allow students to continue to work in and maintain their professional lives and many her transaction -- all -- students to -- that.
Guess that's that's an excellent point the opportunity -- intensity don't think about that how much would we be losing.
Both in terms of experience and salary in the -- -- they're going back to school.
Did you crossing your research for your store and foxbusiness.com.
Suggesting some -- it's just not worth -- at all.
Well you again you really have to get back in research there are certain fields where it you know -- taking online that much stats and being able to you.
You know projection what your future earnings could be -- it it's sometimes it's it's not worth saying you could end up being.
An extremely in debt as a result.
And what about the level -- the tape since Ford did that come into play you know felt like Harvard for and needs -- We'll get -- -- -- Goldman Sachs jobs.
I've heard for many experts -- -- step into you is that it's not the undergraduate degree that counts as much as where you go and get your masters career and VA programs and that can have some leverage and the job market.
Good point and -- you have your masters to think.
I do not have my master's degree and terrorize them.
We really don't need one doing.
Well I guess that depends on on what field you're in and journalism but I found that and getting experience is a great way to you.
Make connections network with people and you know continue to get experience and your ball can really help you in that field but for other fields -- and that.
Going back from master's degree can make more sense I was -- early -- By someone to get a degree.
In -- -- other than journalism so friends and stay here and DA and then work in the business journalist.
You know -- feel that you -- -- resurgent and write about.
And my master's degree in comparative literature -- thesis on Shakespeare.
He's -- every single day.
I'm joking obviously on the some some -- snow is where they actually just well thank you so much for coming on.
That your article is on our website now.
And -- on the screen so anybody has a new questions about whether master's degrees are -- they can.
Look at what you have to say about that what you found out and I guess is really good to know that you're making a guest on average 20% more if you -- have a -- -- the person -- and you reciting -- -- -- -- -- great low three point 6% for those of the masters nationally seven point 8% is probably really higher than Macs and number.
It was a little fishy when it came -- are -- -- go to break right now and we will be back with some mom foreign be talking to someone who switched careers.
I don't know maybe like ten times since you can give us celebrate insight on how best to do that well.
Welcome back everybody -- let's -- the board right now for a quick check on the markets -- in a major sell off going on.
And bring her out right -- -- down 240 points on the Dow that is nearly 15%.
-- up and we are much much much closer thirteen thousand.
We have Federal Reserve policy makers talking now they'll continue to talk tomorrow.
They make their policy statement on interest rates tomorrow the problem is they've already done like everything that they can.
So there's no optimism that there's more to be done is hopefully to see what they did the last time we see it even -- so that's also contributing.
Today on -- this morning okay Caroline's can easily mean is joining us again thank you so much for coming back on the show.
And that you are an author of several books six steps to a job search success.
As well as -- co author of how the fierce -- the year and that's the one we're gonna talk about today so I can imagine need to have a lot of and courage if you're gonna switch jobs that many people are switching -- stage right.
Absolutely and what I talked about in the book is about switching careers are not just doing the same job at a different company.
But actually moving to different industries or doing a different role altogether.
Before we say your expertise stands.
It relates to the job market I mean you have a lot of personal experience that this kind of silly I call myself an extreme career ten plus I trained in conservatory to be a classical can't -- The that I need to NG investment banking and management consulting -- -- me -- -- -- music and I and I and I think that's what that makes and believe it or not -- can go -- and then after that I was an executive recruiter -- and then I left corporate for a few years to you acting.
So don't back into the arts and then I went back again and -- recruiting and corporate HR and then I started my own company so you could argue that -- his alma and I have a dozen -- Yeah I was each one of -- successful.
Yes because that is in those -- for several years and everything that I done before I bring into my work now okay so how can.
Use suggesting recommend tips for other people on how they can make a career change like that and be successful at doing -- -- -- I love overcoming the fear I don't say run -- I'm scared of it and hook.
And running numbers because a lot of -- is based -- I'm gonna make a lower salary it's gonna cost me a lot of money in terms of retraining -- any certification but the reality is is that.
-- me -- -- -- -- so you wanna actually run the numbers how much is this gonna cost what can I expect to earn.
This thing I always -- is -- change at the fringes which means -- -- the smallest changes first Silva left -- to become an actor.
Yeah risk that -- making nice stellar gains and then you go into something we don't you -- me absolutely I always tell people I went from six figures to three think yeah that's.
But I as an actor you have to figure out what they're going to do great teaching the fringes is about taking an acting class and Mikey is.
Doing a play doing this stuff that you can do you still have your job she did make sure I am sorry well -- everything well hopefully yes they don't want to just run away and doing the -- guess when you have this idea that you wanna change careers.
But the final thing is eventually you will have to run away and join the circus and -- the week.
And so finally to do that you have to especially if I fear with fear so initially -- the -- changes to the big deal.
But you have to think that the fear regret the fear of not doing what it is that you always that you wanted to do in -- -- forty years from now and say.
Will -- be glad that I -- this that I needed gul added the answer is probably yes and that should be enough to propel you that's the best thing and -- got -- in quite some time.
Play -- with fear its true from early in May have to worry about what.
Down the line we might regret not doing now -- right -- You know OK so what else is how the -- handle -- tell us.
Or more of the strategic had a Overton -- -- -- -- more tactically.
So if you wanted to move from one industry to another.
-- intuitively you can't seem like an outsider coming in you can't go to someone in a completely different printing.
How irony because all learn how to do your job you have to show that you're already doing the job -- -- professional associations read the trade journals relevant to your new industry.
Volunteer some -- to a pro Bono consulting assignment.
Today it seems like you're already.
-- -- know you knew the people there and you can make the -- that I know it's like me you always hear from college graduates trying to think this is a tough job market but any job market trying to convince the -- -- -- that.
Say they know what they're doing cleanly they don't the most -- you can manage your bachelor's degree and an -- break.
We have to try to convince that employer that you have the skills that it takes and it's essentially the same name.
Could you going basically entry level when you make a career change absolutely but an internship is a great example where you can demonstrate you've done the job before and if you have an idea as a senior -- -- college that you want to do.
Accounting at the very least you -- The teacher's assistant for the irony department or do research -- -- -- -- do something that puts you in that -- businesses to give internships -- tutorials to.
Peter that's a trend that I'm seeing so people are absolutely using older workers.
-- do you research assignments -- to do a project oriented -- -- -- -- like you can get your feet -- you can tell people.
I worked on next to me were -- there or that -- -- a permanent full time person that you -- working on something that's legitimate -- you know if you're unhappy with your -- -- about two -- -- -- -- -- it's sometimes nice to have some sort of to see you really like it absolutely that class and an internship before you give up everything worked for even if you -- we have right.
And going to the grass isn't always greener actually sent me glamorize -- a career looks like and then when we actually have to do that we're thinking that's how I thought our lives right right.
And I'll be doing too much.
He -- into many names Infiniti can't focus on one thing that's really tickets -- shore you have to do the job -- -- -- do you sense you're finding that you're doing too much on the side this.
-- businesses take -- he started business on the side you're doing your.
That business starts to take over -- theory your current about a -- thought thirty year old.
Hi you're never going to be able to grow past a certain stage and -- you have to take that we.
And I would -- -- street for a side business where that's different -- career you're taking some classes you're doing some consulting work you're finding this is really what I wanna do right that's when you meet -- that -- secret worries -- should be open about with your current employer.
You need to Jack it varies by -- so a lot of places are are good about that as long as there's no clear.
Or conflict of interest.
I would imagine is probably best and be open about it.
I I agree.
And it's best to be clear that you're not doing this and company times you really -- -- -- when he have a separate email address used don't use your office equipment to everything at home -- on your -- time yes excellent excellent points how about your your circle of friends -- and they just like -- -- in the extreme career -- as -- -- and you're -- and that's.
Yeah I think about when you try to make it -- need to join professional associations you need to be with other people -- initially when you're in your first career.
You know when I -- -- yes my friend for PS spray are musicians.
And then when I -- the longer they were Pinkerton and still fun when I wanted to move in and out of business in the aren't I have to find that try to get people who would support.
Got a zero rollodexes -- Caroline is seasonally mean thanks again for coming nine USA six -- start dot com is on the screen now.
Your tips are -- so well thought out and helpful we love having fun.
-- go to break down we'll be back with doctor when he telling us how you work on the teams buildings and office apparently a lot of us some good at that.
Tackle and that -- -- Welcome back okay cheated on the chat today guys and I pose some questions on my FaceBook needs.
Lawrence -- at the end and I asked -- do you think the master's degrees worth it.
And Jason Adams says I make sixty years at a 1410.
Company -- -- high school drop out degrees are overrated are okay.
88 mean they could be I mean you can argue that in many cases especially now.
But they're getting associates degrees if anything -- trying to get all those skills hello impact on the case since.
-- -- -- that have some people.
Writing and Freddie Mac chat -- FaceBook page today already the right no returns after winning who has an article on our site right now about teamwork and house.
Communication is key and parent and how to hold -- team building conversation.
Well that's really important here on those talking conversation he figured out really had a conversation about this well.
First -- -- team building is probably one -- most requested organizational development activities out there and I certainly get requests for -- time and the challenges is.
When -- very popular you get my saturation in the market so I've seen it run the gamut from bizarre.
Whole key to highly structured so there's a lot of different ways and then when you talk about team knowing it really depends on who you ask what actually means and I come out and of course from the psychologist perspective of what an intervention perspective of course and what I usually find is that this is that.
There's always a presenting problem and then there's an underlying problem I just like can there be right if a child acting out that's not really the problem.
It's driven by something else you want to find out what's driving that problem that same thing companies and it most of the time it comes down to -- things.
It's trusts him.
And dialogue or conversation it's.
People have some kind of perceptions about each other -- the group where they're not trusting each other.
And therefore they're not having conversations.
So you have all kinds of things that are -- -- people are getting longer working together and it just gets worse over time and if so then you call someone like me.
Or someone who comes in with their pack -- play and opens it up -- doing some kind of bizarre -- activity which never ever goes well I see this all the time and that is a real challenge because.
You continue building activities.
Can be very dangerous I mean there's so many ridiculous record -- it is some of these are good some of them are bad and for the most part.
What happens you get someone in there who's applying sort of some kind of fun and interesting activity that they -- and some other field and they think that somehow -- -- plays together there's gonna start magically getting along or you lost sight.
And we're hangs out and -- swinging from ropes and next thing you know they're gonna go back to the office and -- is going to be fine.
The problem is that really rarely ever works in these people drive me nuts that got -- -- It wouldn't say conversations -- -- in -- -- -- -- to sit people down and find out what's really going on so from a trust perspective.
Trust isn't just about loyalty.
Or honesty mean that's a big part of it -- also about confidence yet.
It's about consistency.
-- open so when people don't do you well especially if it's a virtual team or you're just passing each other in the hallway.
They're not gonna be sure of how confident you are they're not gonna necessarily see you in a consistent like maybe -- don't see your work all the time.
And so there may be a trust issue there that's not nothing you know.
-- usually is the biggest complaint I hear from colleagues and from friends is that.
In their workplace -- it's a definite hierarchy.
And the person who feels most busiest.
The most busy -- busiest fit and that comparative literature master's degree yeah.
Come see you know they may feel -- they can't delegate work -- they don't trust.
That that person is going to get the job done the right way and when they -- look -- and try.
And they do they say they either have to come back in on Sunday to get it on the right way or it just it turns out the a headache for them.
Well that could be an issue for that individual themselves because -- there a perfectionist so they believe they should be done a certain way when in fact it could be done other ways.
That could be their own issue whether -- not trusting -- their own projecting on somebody.
Which is a real challenge and that's.
That's intervention we have to do with that individual that I know selling them this might have into a global will bring and hit hit -- -- -- right -- -- -- But the other challenge is is having these conversations -- it's.
So what I found when I work with clients specially executive teams -- sit everybody down and we just talk about you know well first of all I -- I was sucked everybody individually first hand to find out what's really going on and we give people a group of -- would it would usually is the case is that.
There's stuff that nobody is talking about because it just hasn't come up -- they haven't.
Pulled off to the side of the road gotten out of the car keep the tires looked the man a back seat -- had to -- conversation.
Right in which you care packs.
Yes there's a great model.
The state model that I borrowed from a book called crucial conversations came out numbered years ago it's a great way to facilitate.
People having conversations and getting kind of a little bit of a roadmap for doing it I -- let's be honest it's not easy to have a tough conversation.
If we're not getting along -- we had a disagreement on something and and we don't want it to be very good debate style like was we saw last night -- -- I'd get a that's not a healthy workplace that conversation that's about debating in this grade at work we don't want that we -- people it.
To come -- in the same page and have solutions.
To the problem.
I think personally you want to make sure you share this -- yet so at least we can agree on.
The premise of having the conversation.
For the second thing is let's make sure we told story.
-- get a feel of contacts from my side of it how does -- feel.
How's it affecting me yet then you want to -- the other person their side get.
Because you cannot -- it one way conversation that's on a conversation that's -- -- lecture.
So you -- -- have a conversation got to find out how they're feeling and you need to be open to an OK with the fact that we all.
Come from different perspectives and it's OK.
To be willing to listen in here.
Then what you want to do is talk tentatively you don't want to necessarily.
Draw lines in the sand and say this the only way.
Com here's the -- the solution done.
Phil Flynn added you can negotiated it and and then at the end of the day I think you want to encourage a little bit of testing of the waters.
Let's try our it let's try this but you gave the example before maybe -- -- let someone else and delegate this work from another team member do it.
Let's try to see how it goes and be open to.
And I think my favorite quote from CEO I once worked with it was this he said.
And -- changes the -- said you know what I will always advocated for my position.
But if I get with the group and we agree to go another direction my new job is to prove myself wrong.
And if you cannot be willing to prove yourself wrong.
Did you know for the millions of -- forty dot com thank you so much spirit coming up and dot com meaning that the thing that -- aren't RA announced.
On Fox News and dot com most out.
We take you as always.
In thirty seconds right now going back to my FaceBook needs.
-- Andrew I didn't even go to high school.
-- he did something I'm not gonna say right now.
And I immediately worked my way up at a fortune 500 company and now me half a million dollars a month I think he's called that can't be true.
400 international a month maiden name here.
Can create what we need -- he says Carl -- guy everybody favored joining us smiling small business Wednesday we'll -- some -- coming success stories.
And isn't -- interesting day the only thing about the dot com moments and you could have done this this this and that and you didn't and you know.
Well it's never too late -- Internet these days okay thanks again for joining us.
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