Our friends at PricewaterhouseCoopers, are, as usual, supporting women.   This time they are doing some research on the impact of the current economic crisis on women.

Below is the press release; please take a few minutes to respond to the survey and pass the request along to others as well.

To mark International Women’s Day on March 8th, PricewaterhouseCoopers is running a snap survey to assess first impressions of the impact of the global economic crisis on women’s careers and prospects, now and in the future.

Will the recession break the glass ceiling or reinforce it? Will it set equality back ten years, or put women on an equal footing for caring and pay responsibilities? Have women been more adversely affected by job cuts than men?

Or is the recession’s potential impact on women all just hype?

Click here to take the survey.

Please share your thoughts – and pass on the survey to your friends and colleagues. It will take no more than ten minutes to complete, and a report on the results will be found in the coming weeks at the PwC Gender Agenda blog.

The survey website will remain open until March 10th.

TAGS: PricewaterhouseCoopers, Survey

I had all sorts of kind words and compliments lined up to congratulate and celebrate you youngish Baby Boomers.  10,000 of you a day are turning 50 for the next ten to twelve years or so.  Then I reminded myself that I’m your financial cheerleader – and since you can’t take kind words and compliments to the bank – let me provide some loose change ideas instead because as I like to say – “Lose change adds up to folding money.”  You can bank on that.

If you’re in your 50s – when it comes to personal money matters – welcome to crunch time! 

In the fifth decade of life you need to do with your money what you’re hopefully doing with your mind and body:  firming it up in general but your retirement options specifically.  Here’s the reason why.  Although the whole idea of what retirement is is being re-thought by the 79 million of us who are known as Baby Boomers (“Encore: Work That Matters in the Second Half of Life ” by Marc Freedman), at this age, you’re actually thinking about doing it one of these days!  So now really is the time to decide what kind of retirement lifestyle you want – and plan accordingly.

Here’s how.  The closer you get to this thing called “retirement”, the more you need to scale back on doing anything too risky with your money.  Your asset allocation should be 50% stock and 50% fixed income.  This mix let’s your retirement savings grow in the market but with a safety net of sorts with fixed income.  If, however, you’re behind in your savings, you may need to be a more aggressive investor – in other words, take more risk even in your mid-50s in order to make up for lost time and the more recent losses due to the state of our economy.  Crunch the numbers – from social security, pension and all your other income streams – to determine how to best allocate your assets.  Look for online calculators to help you do this (http://www.bankrate.com/brm/news/retirement.asp).

Since women still on average live longer than men and will therefore need money for a longer period of time, it’s very important to remember to actively continue saving for retirement.  Your money mantra should be – save as much as you can and be sure to track your assets more closely the closer you get to retirement. 

Many of us age 55 and older are taking care of aging parents, dealing with their end-of-life issues and what may be required of us emotionally and financially to help them.  So it’s easy to let our own future money needs get side tracked.

Get back on track by downsizing your housing costs – possibly relocating to a smaller home.  Get back on track by buying long term care insurance if you haven’t already because if you purchase it in you 50s, it’s still affordable. 

And finally, get back on track by downsizing your generosity.  Despite what your heart might say, this is the time in life where you must stop giving money to relatives and children.  I know – that’s a tough one.  But unless you’re independently wealthy – you’ve reached a point where you can no longer afford to lend a “money helping hand” because you’ll have little time to recoup any loses for loans that become gifts.

Next Thursday:  Women over age 55 control 65% of the country’s wealth (http://www.silvervixens.com/node/92) but often don’t give themselves credit for being able to make good money choices.  I’ll have some specific money moves for women of a certain age – 55 and older. 

Here’s to your health and wealth.

February is Black History Month.  Did you know that …  In the early 1900′s a woman named Madam C.J. Walker was considered by some to be the first self-made American woman millionaire?  Madam Walker was an African-American businesswoman – the wealthiest African-American woman in America in the early 20th century.  She revolutionized the hair care and cosmetics industry for African American women.  Madam Walker fully recognized the power of her wealth and success.  She promoted her business by speaking to women’s groups which empowered other women in business.  Her story is inspiration to women entrepreneurs of all ages and backgrounds.  http://inventors.about.com/od/wstartinventors/a/MadameWalker.htm

TAGS: aging parents, bankrate, black history, downsizing, encore careers, future money needs, loaning money, longevity, madam cj walker, Money in Your 50s, retirememt, women entrepreneurs

The theme song for the quirky television show Monk,  It’s a Jungle Out There, applies equally well to the current job search climate.  With unemployment on the rise there’s significantly more competition for each vacancy.  But not to despair!  Here are some simple tips for how you can distinguish yourself from the pack:

1.  Never send a generic broadcast letter.  Even when applying to a blind ad, tailor your cover letter and resume to the job for which you’re applying.  It takes just a few more minutes and is the kind of thing employers notice.

2.  Your cover letter and resume must be flawless.  No typos, grammatical mistakes or errors in format are acceptable in this climate.  Given two apparently equal candidates the employer will go for the one who took the time to ensure her documentation was perfect.

3.  Always have an objective on the resume and keep the rest focused on key accomplishments related to the job at hand.  Don’t make the reviewer guess what job you want or how your background complements the job requirements.  Make it easy to see a direct correlation between your experience and the employer’s needs.

4.   Look better than everyone else.  Nearly 60% of your credibility comes from how you look, so it’s worth taking the time to make sure you’re maximizing that advantage.  Regardless of the job for which you’re applying, dress as if you’re being interviewed for the CEO position with  make-up, outfit, and hair to match. 

5.  Be prepared.  Learn something about the company before the interview so that you can demonstrate you went the exta mile.  If you can’t find information on the internet, go to their offices and ask the receptionist for brochures, annual reports, or other information they use with customer or clients.  You’d be surprised how few people do this.

6.  Be likeable.  You’re not only being assessed for the ability to do the job, you’re being assessed for how well you’ll fit into the company culture.  The easiest way to boost your likeability is to relax, smile, look people in the eye, and show an interest in others and the company. 

7.  Ask for the job.  If, after being interviewed, you believe you’re a good fit and it’s the kind of place you’d like to be employed, say so.  Saying something like, “After speaking with you I’m even more certain I can add value and would like the opportunity to prove it.  I’ll look forward to hearing from you.”  This demonstrates confidence and a positive outlook.

TAGS: Guerilla Marketing for Job Hunters, Interview skills, Job Search, Monk

If you walked around midtown Manhattan this past summer, you might have seen the financial executive, in his late 40s, who paraded around in a sandwich board declaring “Experienced MIT Grad for Hire” and handing out copies of his resume.

A few months later, you might have come across a group of job hunting 20-something recent graduates promoting their skills though sidebar advertisements on Facebook and links to their online resumes.

What intrigues me about these methods is not just the guts these job seekers displayed. It’s the different generational approaches to self-promotion. The Baby Boomer gravitated to in-person, face-to-face networking; the Millennial went right to the web.

If you are looking for a job in the current recession, my best advice is to borrow from the playbook of both of these self-promoters: combine “old-fashioned” methods with new technologies. Diane K. Danielson, my colleague and co-author on the book The Savvy Gal’s Guide to Online Networking calls this a “clicks and mix” strategy, and it’s an important marketing strategy if you’re looking for a new position.

Here’s why: young adults are competing in the job market with much more qualified people who have been laid off and need to find any job they can. At the same time, older professionals are competing with younger workers who are willing to be hired for less money and security. And, in this economy, every job seeker has to try every job hunting method available.

Here are some self-marketing tips for job seekers of all generations:

• Make sure your technical and communication skills are as strong as possible. If necessary, take a class or get some coaching in any area for which you’re not 100% comfortable. For an older professional, this may mean familiarizing yourself with social networking tools. For a younger professional, this may mean joining a Toastmasters club to work on your public speaking or conversational skills.

• Engage a “kind critic” to honestly assess your image as a job candidate. Find a professional you trust-a friend, former colleague, family member, etc.-who will be really honest with you. Ask this person to tell you if there is anything you need to know: Do you say “like” or “you know” too much when you talk? Should you dress less “frumpy”? Do you come across as bitter, out-of-touch or entitled? It’s important to know how others perceive you so you can address any areas where you’re getting in your own way.

• Become an active user of LinkedIn.com. LinkedIn has become the most popular and valuable professional social network, but it won’t work unless you work it. First, set up a complete profile including keywords a recruiter or business owner might use to find someone like you. Join professional networking groups on LinkedIn to build your connections and become part of conversations about industry news. Demonstrate your knowledge in the “Answers” section of the site to make even more connections and display your talent. Scour other people’s profiles to look for companies you may want to apply to, job titles or professions you didn’t know about, professional organizations where you might network and people with similar interests who might be willing to offer you some job search advice. Finally, use LinkedIn to help other people with suggestions, job leads and moral support-the more people you help, the more people will offer to return the favor and help you.

• Network face-to-face. While online networking is very important, still the best way to make a strong impression is in person. There is a perception that younger people are more comfortable communicating online, so it’s especially important for Millennial job hunters to demonstrate that they are comfortable face-to-face. No matter what your age, make sure you are networking across generations to maximize your chances of finding out about any and all opportunities. Don’t be afraid to attend a “young professionals” event if you’re over 50 or a “Don’t retire-rewire!” event if you’re under 40. Sometimes you have the best chance of making a memorable impression when you’re an outsider-as long as you are polite and gracious, of course!

• Play up your assets, whatever they are. If you are an experienced professional, then talk about your maturity, deep industry contacts and excellent judgment. If you are a recent college grad, emphasize your energy, enthusiasm and technical savvy.

• Don’t ever put yourself-or your age-down. Don’t make fun of your age, joke that you’ll be working for someone who could be your son or laugh about how “clueless” you are. If you’re comfortable with your age and experience level, others are likely to respond in kind.

Whatever your age, skill level or experience, always remember that self-marketing is about building on your strengths and addressing your weaknesses. So, be confident, be willing to learn and keep a positive attitude. Self-marketing makes a big difference in a difficult job market.

A version of this post originally appeared on the Lindsey Pollak Career Blog.

TAGS: Job Search, Networking, social networking

Recently, I heard a tale of a woman whose usual modus operandi was to get things done through fear and intimidation — but every once in a while (perhaps out of guilt?), she’d try to get close to those who reported to her by sharing gruesome details of her personal life. Of course her staff listened with rapt attention to her individual version of “Sex and the City” but still gave her a failing grade when completing her 360 degree feedback evaluation.

What was she thinking?

Clearly, fear and intimidation are not motivational techniques. Bosses who confuse compliance with commitment do so at their own peril. As she learned the hard way, the people who work for her aren’t grass. They have their own interests top of mind and expect leadership from their boss — not wildly alternating behavior.

Admittedly, she’s an extreme case. Most women who share personal information at work aren’t bragging about their conquests. Yet, we are often tempted to discuss personal matters at work. My advice:

Don’t do it!

It is not worth the risk to share intimate details of one’s life with colleagues. Don’t confuse your colleagues with your friends.

Things to avoid:

• Providing play by play updates about how badly your divorce is going, indeed mentioning relationship glitches of any sort
• Discussing your meds, either prescribed or not
• Complaining about the usurious interest rates you pay on the boatload of credit card debt you carry
• Recounting stories about worrisome behavior on the part of your children or pets

Trust me – none of the topics above are useful personal brand building strategies.

The workplace is competitive; some people have no qualms about using what they’ve learned either in the office or after hours in a social setting to advance their career at your expense. Don’t give them the chance — keep your private life private.

TAGS: information, personal brand building, personal branding, politics at work, privacy

It was two decades ago that I celebrated this milestone – which “back in the day” was referred to as “the over the hill birthday”.  But I do remember that it represented a time of financial urgency for me.  My children were 9 and 13, my parents were in their 60s and I was feeling the full responsibility of being the “it” generation – the hub of the wheel that tended to all family member matters.

Turning 40 signals a time of urgency for many people.  You’re dealing with lingering debt, caring for aging parents, putting children through school, preparing to pay for college, and yes, worrying about meeting your own financial needs and goals.  Being 40-something can be a sobering time and money is usually at the root of your concern.

Being 40-something.  The over-the-hill blues might be hitting your spirit and your pocketbook but just remember how to breathe, lower your shoulders away from your ears and inhale – exhale and get a grip.  You’re still young.    You have time on your side to recoup and recuperate from previous or existing money woes.  And you have  years of work – therefore potential income – ahead of you by which to recover.

At this age, it comes down to refocusing and re-evaluting the past money experiences have taught you about what you need to do when it comes to making, managing and investing your money.  That’s why eliminating debt is the money goal at this stage of your life – so that you can really focus on your future.  If you’ve been practicing good money habits for the last 20 years – you’re ahead of the game and have long been committed to building and maintaining an emergency fund of 3 to 6 months worth of living expenses.  If you haven’t done it yet – start building it now – especially in the midst of the current economic crisis.

In your 40s is also the time to reasses your money priorities to make room for aggressively saving for retirement. 

• Maximize contributions to your employer-sponsored pre-tax savings plans.
• Consider opening other tax sheltered investments because saving outside of your employer-sponsored plan is always smart.
• Re-evaluate your retirement plan.
• Track your investments more closely.

In your 40s?  Just breathe.  Where should you be putting your money at this time in your life?  My suggestion?  Spread it around.   Divide your assets among different  investments.   My favorite financial reference library http://lightbulbpress.com says asset allocation is a strategy for maximizing gains while minimizing risks in your investment portfolio specifically by dividing your assets among different broad categories of investments, including stocks, bonds, and cash.  

Your asset allocation at this age should be around 65% stock and 35% fixed income. 

In your 40s – it’s time to get your spending under control.  Permanently.  The last thing you want to do (or can afford to do) is over-extend yourself and have no financial breathing room.  And finally – sadly but realistically – this is the time to prepare for the possibility of divorce or widowhood.  Both can be emotionally and financially devastating.

Next Thursday:  Crunch time.  Money moves for women in their 50s.

If you want more details on how to save, invest and manage your personal money – at any age – go to http://www.napw.com/valuable_money.cfm for my daily “Valuable Money Tips with Valerie Coleman Morris”.

Here’s to your health and wealth.

TAGS: aging parents, asset allocation, children, divorce, employee sponsored pre-tax savings plans, investments, over-the-hill birthday, preparing for retirement, Widowhood, Women in their 40s

I spent a week with some friends in Palm Springs and they introduced me to a term with which I wasn’t familiar:  Dialing Under the Influence (DUI).   Here in Los Angeles it’s also referred to as “drunk dialing.” They told me it was something their 20-ish daughters did.  As the term suggests, it’s when you make calls after you’ve had a few drinks.  I suppose if it you do it with close friends it might not be so bad, but do it with work colleagues and it could be the kiss of death. 

I’m the last person to condemn others for having a few drinks.  But I do want to caution you about calling people with whom you work when you’re relaxing at home with a glass of wine, beer or a mixed drink.  You never know when the person you’re calling may eventually be promoted to your boss or someone who might be in a position to consider you for a job at another firm.  Don’t give others ammunition to shoot you down.  You’re more likely to say things you will wish you hadn’t said after you’ve had a few drinks.  I’ve done it myself.  And it’s an expensive lesson. 

Early in my career as a consultant I took a client out for a holiday “thank you” lunch.  He had a glass of wine so I did too (the nice girl not wanting to look too prudish).  He began to negotiate my consulting fee and I told him I didn’t really want to talk about business, I just wanted this to be a lunch to say thank you.  He pushed, and eventually I gave in.  I lowered my fee for the upcoming year.  So my fee was lowered for not only that year but every subsequent year as a result.  It was a mistake I didn’t make again.

I caution you to never discuss fees when you’ve had a drink (even one), not to call colleagues when you’ve been drinking, and to abstain (yes abstain) from drinking at company parties.  You’ll never be sorry in the morning.

TAGS: drunk dialing; dialing under the influence; alcohol and workplace relationships

Could that headline possibly be overselling the content of this blog post?

Nope.

There is an easy, free — and fun — way to get free career advice (and much more) from some of the best career advisers in the country. It’s all happening on Twitter.

Willy Franzen, of One Day, One Job and Found Your Career, has put together an excellent list of “50 Twitter Users to Follow for Your Job Search.” I’m honored to be on the list and happy to see many of my favorite career bloggers, authors and speakers on the list as well. (If you’d like to follow me — and please do! — I’m @lindseypollak.)

All of the people on this list use their Twitter feeds to share career advice articles, job search tips, real job and internship opportunities, event announcements and much more. If you’re not on Twitter, you’re missing out on a tremendous amount of free and valuable information. (Yes, you’re also missing out on silly photos, descriptions of what people are eating for lunch and a fair amount of procrastination, but it’s easy to find the valuable content on Twitter. The rest makes it really fun.)

I’d also like to add a few additional “tweeters” that I recommend:

Alexandra Levit (@alevit) – blogger and author of How’d You Score that Gig and The Don’t Teach Corporate in College

Anita Bruzzese (@Anitabruzzese) – blogger and author of 45 Things You Do That Drive Your Boss Crazy

Chandlee Bryan (@chandlee) – career coach, resume writer and blogger

Diane K. Danielson (@DowntownWoman) – CEO of the Downtown Women’s Club and blogger at The Women’s Dish

Guy Kawasaki (@guykawasaki) – one of the most popular Tweeters, who often posts links to articles on making the best use of Twitter, LinkedIn and other social media

Please share your favorite tweeters (on any topic, not just careers) in the Comments. Oh — and if you’re totally confused about the whole Twitter thing, check out this recent article, “How Tweet It Is,” in New York magazine.

A version of this blog post previously appeared on the Lindsey Pollak Career Blog.

TAGS: careers, social networking

I heard a terrific story the other day about a woman (let’s call her Anne) who had recently attended a Negotiating Women workshop.

Afterward, Anne wrote us to say that she had used what she learned at the session. She is going on a cruise with a friend next month and when she spoke with her travel agent, she learned that the cruise was not full. A day or so later, Anne thought that she “might negotiate”. So she called back and asked, “Since the ship isn’t full, what might you do for us?” To her surprise, the response was, “Let me see.” So far, Anne has gotten an upgraded cabin but it isn’t over yet; she thanked the travel agent and asked for more. The travel agent told her that she’d check with her supervisor and get back to her.

Of course, Anne is delighted ─ she said that while she knew that there are discounts out there now, that if it hadn’t been for the session, she never would have thought to ask.

So, as you see, it pays to ask. Anne was also very smart about the approach she took. What specifically did she do? She:

• Asked politely. People are always willing to do more when the request comes as a question rather than a demand.
• Asked for something that she was likely to get ─ the cabin upgrade costs the cruise line nothing because the ship would sail with it empty anyway. It means a lot to Anne, however, since her original cabin was one of the smallest on-board.
• Thanked the travel agent for the concession.
• Continued to explore other possibilities.

Before Anne speaks to the travel agent again, she might want to do some research to determine what other people have asked for and got by checking travel blogs. That way, she will have even more information to position her request, for e.g., “I’ve been reading that some of the cruise lines are also offering discounts on side excursions. In fact, I’ve heard that some are offering discounts of 50% on the Jeep tour of Aruba ─I’d be interested in doing that one if the price was reasonable.”

My guess is that Anne will enjoy her vacation much more because she negotiated! And even if you’re not fortunate enough to be negotiating about a vacation you plan to take, think about asking for concessions whenever you are shopping.

TAGS: diccounts, negotiation skills, negotiators

As Carol and I have reported over the past several Fridays, the Thin Pink Line survey (to which nearly 300 of you responded) has shown us that women continue to experience the effects of being female in the workplace.  As one 25 year old woman in the finance field told me just yesterday, “You would have thought that by 2009 we wouldn’t face the same issues as our mothers, but we do.”

One of the questions we asked was,   ” In your organization, women are interrupted more often than men.”

As you can see from the chart, across generations the majority of women believe they are interrupted more than men.  Today I want to give you some tips for how to handle interruptions:

1.  Allow the interruptor to finish what he or she is saying, then bring the focus back to you by saying something like, “Excuse me, I wasn’t quite finished.  Let me complete that thought.”  The trick is to say it without frustration or judgment, but rather in a neutral tone.

2.  You can avoid being interrupted by ensuring your messages are expressed succinctly and loudly.  We’re often interrupted when we tend to ramble or when people have to strain to hear us.

3.  You’re less likely to be interrupted if you look people in the eye (in groups this means scanning the room to make eye contact) when speaking.

4.  If there’s a particular person who interrupts you frequently, discuss it with him or her off-line.  I once had a boss who consistently did this to me in meetings and it became embarrassing.  I spoke with him in private about how it made me feel.  Although he denied doing it, it didn’t happen again.

5.  The most assertive response would be to interrupt the interruptor by saying, “Hold on — let me finish my thought before you continue.”  Again, delivery will make the difference as will who has interrupted you and whether it’s one-on-one or in a group.  If it’s someone senior to you and you’re in a group, this might not be the best tactic.  If you do employ this, be certain to turn back to the interruptor indicating that you’re finished and yielding the floor to him or her.

The main point here is to take some action so that you don’t walk away steaming or feeling badly about yourself.  And whatever you do, don’t let interruptions cause you to retreat in the future. Be a good advocate for yourself — and a good role model for other women.

TAGS: handling interruptions, women and communication