It seems like these days when you ask someone for suggestions on online job-searching tools, they give you a long list, and at the end, they say, "and of course, Linked In." LinkedIn started out in the living room of co-founder Reid Hoffman in the fall of 2002, but just a few years later almost everyone in the professional community had a Linked In account, and the numbers are increasing (see chart below). If you will be searching for a job soon, it is essential to have a LinkedIn account, because many employers and recruiters will check your profile before calling you for an interview. In this blog, I will introduce you to the LinkedIn features that would be particularly useful for job seekers. If you are a beginner at LinkedIn, you can learn the basics at: http://learn.linkedin.com/, and then come right back here to get a glimpse at the more advanced features.

Source: http://techcrunch.com/2009/02/14/as-the-economy-sours-linkedins-popularity-grows/

APPLYING FOR JOBS

So what's the LinkedIn buzz about? You set up a profile, you connect with people you know, and then what? How does this help your professional development? One of the features that many users do not know about is LinkedIn's job application site. LinkedIn allows you to search for jobs, and to connect with the hiring managers who posted them. All you need to do is click on "Jobs" on the top menu, and then search jobs according keywords and location. Next, you will have the option of clicking either on a job or on people connected to this job in some way. You might find people in your network who currently works at that company, or who know the hiring manager. Finally, you can either apply to the job online, or request a referral from one of your connections. It is great to know how you can get connected to the hiring manager!

PROFESSIONAL COMMUNITIES

LinkedIn also hosts professional communities (or "Groups") based on common interests and goals. You can either post or answer questions in forums, which are great ways to increase your visibility, and to gain valuable information. First, click on "Groups" on the upper menu. You will then have the option of searching for groups with specific keywords. Once you find groups that you like, you can send a request with your preferences (e.g. whether you want to receive their email digests). If your membership is approved, you can contribute to discussions and even post your own questions. In addition, you will see a list of jobs posted specifically to your group!

LINKEDIN APPLICATIONS

One of the coolest features of Linked In is that it hosts a large variety of applications that can help you to become even more connected with your professional groups. Applications include, but are not limited to:

• WORDPRESS & TWEETS :If you have blog, you can now sync your entries with LinkedIn. There is no reason to blog/tweet twice!
• GOOGLE PRESENTATION: Create a presentation about your professional accomplishments, a great way to introduce yourself to recruiters.
• BOX.NET: If you already use this online storage and sharing, you can now develop this application further through Linkedin
• READING LIST BY AMAZON: Curious what others in your network are reading? You can follow them now through LinkedIn!

Putting all this job-searching aside for just a while, get ready for next week's traveling tips specifically for students! Summer is just around the corner, even if you are in graduate school!

Wishing you the best,

Dora Farkas, PhD,

Founder of PhDNet, www.phdnet.org,

dora@phdnet.org

BOOKS ABOUT LINKEDIN:

How to Really Use LinkedIn by Jan Vermeiren (2009)

LinkedIn for Dummies by Joel Elad (2008)

I'm on LinkedIn - Now What? by Jason Alba (2009)

My friend Lisa (not her real name) struggled financially for years during the time she and her husband were graduate students. "I just wish we could complete our studies without having to worry about money. Being able to focus on our theses would seem like such a luxury." Fortunately both Lisa and her husband were able to complete their theses, but lack of funding is one of the most common reasons for students to leave graduate school.

This observation brings us to the next question: Is it even worth financially to go to graduate school? Some of you readers might take offense at the simplicity of the following statement, but it surprises me how few students actually think about finances before enrolling in Masters or Doctoral programs. In summary, do not take on more debt than you can comfortably repay after graduate school. Online sites such as www.salary.com, and www.payscale.com, can help you estimate your expected salary upon graduation. Take into consideration your disposable income after buying a house and a car and raising a family. Your tolerance for debt will be even lower if you already have undergraduate loans.

In the graph above, you can see how the level of debt varies among different fields, with students in the social sciences having the highest amounts. Unfortunately, the attrition rate in doctoral programs is about 50%, and the chart only summarizes debt for those who earned their PhD's. The level of debt among those who dropped out is not included above.

So, where do students get funding? The pie chart above shows sources of financial support by percentage for students who received their doctorates in 2008. If you would like to find out where and how to apply for fellowships, grants and loans, I would like to invite you to browse my free newsletter, "Fund Your Way Through Graduate School" at http://www.phdnet.org/phdnews/august09_phd_funding.html. This newsletter was reviewed by MIT's Fellowship Administrator, and it includes ample references for graduate students, including women, minorities and internationals as well.

Speaking of online tools, my next blog will cover how social networking has changed job searching and career planning. Most of you readers are probably familiar with Facebook and LinkedIn. While almost everyone has an account, few people know about all the advanced features of these sites, particularly for job seekers. Find out more next week!

Wishing you the best,

Dora Farkas, PhD, Founder of PhDNet, www.phdnet.org,

dora@phdnet.org

Source of above data:

NSF, Science Resource Statistics

http://www.nsf.gov/statistics/nsf10309/content.cfm?pub_id=3996&id=8#tab24

What does the PhD job market look like?

This is a good question. Just a few weeks ago, the creators of Gradshare and I were chatting about this blog over a delicious plate of fried green tomatoes (the first, but certainly not the last, time I had this dainty dish). What is a current and meaty issue these days? The economy, of course, I chimed in. Given the budget cuts at universities and layoffs in industry, most graduate students are worried about their funding and careers as well.

While the recession has affected many universities adversely during the last few years, concern about post-graduation career paths is not new. During the time I interviewed PhDs for my book, I noticed an unsettling trend. It seemed like many professionals were disappointed in themselves for not pursuing academic careers. Some were even berated by their advisers for leaving the academic world and pursuing employment at the "dark side" (i.e. industry). Fortunately many departments are moving away from this philosophy, and are beginning to encourage diverse career paths.

In 2009, over 48,000 doctorates were awarded in the United States[1] but there are not nearly so many new faculty positions a year. In fact, as the attached graph shows, only about 51 percent of doctoral candidates sought employment in academia in 2008, including postdoctoral research positions.

The good news for PhDs seeking employment outside of academia is that they have significantly higher salaries to look forward to. The average salary for an assistant professor is about $55,000 and the average salary for all PhD's with 1-4 years of experience is about $64,000[2]. Since this last statistic includes assistant professors and postdoctoral fellows (about half of all PhD's with 0-4 years of experience), the average salary for entry-level PhD's outside of academia can be estimated to be close to $80,000. Estimates of work-life earnings also increase significantly with advanced degrees. Synthetic work-life earnings estimates for Bachelor's level workers is $2.1 million, for Master's $2.5 million and for PhDs $3.4 million (in 1999 dollars)[3].

In spite of higher earnings on average by people with doctoral degrees, graduate students are frequently concerned about how a PhD degree will affect job opportunities and salaries. To answer many of these concerns, I publish a series of articles on job searching strategies, online tools for job seekers and interviewing skills over the next few months.

In order to keep the "younger" graduate population interested (i.e. those who are still several years from graduating), I will alternate the job-searching posts with articles about graduate work-life balance, coping with advisers, and financial stability. In fact, my blog next week will be an overview of funding options for graduate students, including specific resources for women, minorities and international students.

Wishing you the best, Dora Farkas, PhD, Founder of PhDNet, www.phdnet.org,

dora@phdnet.org

Further reading:
The Academic Job Search Handbook by Julia Miller Vick, Jennifer Furlong (2008)
Tomorrow's Professor: Richard Reis (1997)
Alternative Careers in Science, Second Edition: Leaving the Ivory Tower by Cynthia Robbins-Roth (2005)
"So What Are You Going to Do with That?" :Finding Careers Outside Academia by Susan Basalla (2007)
A PhD Is Not Enough, Peter Feibelman (1993)

[1] http://chronicle.com/article/Number-of-Doctorates-Rose-S/49219/

[2] http://www.payscale.com

[3] The Big Payoff: Educational Attainment and Synthetic Estimated of Work Life Earnings. US Census Bureau, Special Studies, July 2002.

I am honored to be among the first to contribute to the new GradShare blog. Before I dive into my first piece (which is sure to arouse interest for those of you concerned about the economy's effect on graduate students), let me give you a quick overview about myself.

I received my PhD in 2004 from MIT from the Department of Biological Engineering, after a grueling six-year journey. My thesis was challenging, but I was fortunate to have a very supportive research group and supervisor. I had friends, however, who had much tougher times, and some of them were not able to finish. Unsolvable thesis questions, difficult advisors, and lack of funding were the most common reasons for them to quit (sometimes after 5 years!).

Was there anything I could do to help them? What if we pooled together the knowledge of students who had already graduated, to learn how they did it? In a moment of epiphany, I decided to interview 100 PhDs across a variety of disciplines and weave their stories together with online tools and resources. So, just a few years after I finished school, I published the book, "The Smart Way to Your Ph.D.", which includes over 200 tips from 100 PhDs. I intended this to be an all-inclusive guide, so my book takes readers all the way from the graduate school application phase to the job-searching process, and through the hurdles of writing a doctoral thesis. You can read excerpts from my book on my website at www.phdnet.org, or by clicking on the image on this site.

While I received many heartfelt letters of thanks from graduate students across the country for inspiring them with my book, I wanted to do more for my readers. About a year ago, I started "PhD News", a free monthly newsletter focused on graduate school issues. I cover work-life balance, thesis writing, dealing with difficult advisers, repetitive strain injury, and job searching strategies. My upcoming in issue in May will be about overcoming writing blocks, a timely topic for those of you graduating soon, or writing papers. To browse my newsletters, or to sign up for free, visit www.phdnet.org/phdnews.html.

While the newsletters draw a good crowd, I found that most readers prefer monthly, rather than biweekly or weekly columns. So, how can I satisfy the interests of those avid followers who want to read more? A blog, of course!

Now, Grad Currents will bring you weekly updates about career and funding opportunities, thesis writing tips and graduate school lifestyle issues. With the economy being a bit thin (although there are constant reports of a turnaround, except for hiring), I thought I would launch this blog with an overview of career prospects for PhDs. Whether you are already in a doctoral program, or thinking about enrolling in one, stay tuned for our first post on (date): What does the PhD job market look like?

Wishing you the best,

Dora Farkas, PhD, Founder of PhDNet, www.phdnet.org,

dora@phdnet.org