Friday, July 4, 2014

Potentially Costly Pitfalls of a Job Offer

Getting that first job offer was an amazing feeling.  However, a first job can also come with a variety of costs.  While these expenses weren’t enough to make me not accept the job, they were enough to be costly and somewhat frustrating.

Here are some of the issues that came into play with my first full-time role out of college that had both me and my wallet somewhat feeling the pain.

Location: Putting the cart before the horse
I’ll admit that I screwed up big time when I accepted my first job out of college.  Being the naive college graduate, I accepted for fact what the recruiter told me about being placed in a particular location of the city to which I was relocating after graduation.  Therefore, I signed a year’s lease in that location that was about a quarter mile from the location at which I was expecting to be placed to work.  Come to find out though, about a month later I was told that I would actually be placed at a location more than 30 miles away.

This was a big blow that meant not only did I have about an hour’s commute each way ahead of me every work day, but there was the frustration of the drive, not to mention the cost of gas involved with this commute.  It was a valuable lesson though not to jump the gun when it came to choosing a living location before finding out exactly where I would be working.

Dress code
Jumping the gun when it came to buying my new work wardrobe was another rookie financial mistake I made.  Again, I ended up asking the wrong person when it came to this aspect of my new work.  I asked a recruiter rather than someone who was in operations and actually out working in the trenches.  Therefore, I ended up spending hundreds of dollars on work attire that I couldn’t use for this particular work role since there was a very uniform (no pun intended) uniform standard.

Transportation and parking
After I ditched my first work role after college, I found a job in my dream industry…the hotel business.  My work was located in a busy section of downtown and I enjoyed being around the hustle and bustle of the urban environment.  What I failed to realize was that getting back and forth to work in this area could be costly. 

Not only was there the stop-and-go traffic city which added additional wear and tear to my vehicle as well as lowering my gas mileage, but there was also the cost of parking downtown, which was expensive.  Thankfully, my work provided a parking pass for free downtown parking as one of the perks of the role; otherwise, parking costs would have added thousands of dollars each year to the cost of my work.  Therefore, transportation to and from a job can be another important aspect to consider before jumping the gun and taking a role in a particular location.



Disclaimer:

The author is not a licensed financial professional or career advisor.  The information provided in this article is for informational purposes only and does not constitute advice of any kind.  Any action taken by the reader due to the information provided in this article is solely at the reader’s discretion.

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