Showing posts with label career. Show all posts
Showing posts with label career. Show all posts
Saturday, May 3, 2008
Interview marathon
On Monday, I will be interviewing for another position in the company. It will be my second time interviewing for an internal posting. I will have six 30 minute interviews with six different people. I personally know two of them. I haven't prepared much for the interview, but I will spend Sunday brushing up on my interview skills. I hope all goes well.
Thursday, April 3, 2008
Afternoon off
Sometimes it is nice to take some time off from work during the week. It a way to break everyday routine, especially for those months where the next day-off holiday is far away. Today, I took the afternoon off to go to the Padres game.
I knew well in advance I would take these hours off so there was no decrease of productivity at work. I worked for only 4 hours before leaving early, getting lunch, and headed to the game. The weather was perfect. The day started with overcast, but the sun was bright and shining for by game time and throughout the entire event. No better way to relax in San Diego than time in the sun.
The weekday afternoon games are great deals for the budget conscious because they have 2-for-1 pricing in certain sections. I got field level seats for only $20, that originally go for $40. Hot dogs, better known at Petco Park as Friar Franks, also have 2-for-1 pricing. That makes the price of a hot dog at reasonable street prices. But because I had lunch prior to the game, I didn't have my favorite baseball food.
In terms of minor details for the day, I met an old friend from high school that I haven't seen for 9 years. I was surprised we both recognized each other. Then during the game, one of my best friends sat in the same section as I did so I sent her a text message to turn around. I talked to her for a few innings before returning to my seat. And lastly, the Padres won to remain in the lead in the NL West.
It's too bad I don't have Fridays off, as the game would have been a good start for a 3 day weekend. Alas I have to go back to work tomorrow, but Friday should go by faster as I'll have something to talk about while they were at work. I'll also be looking forward to and plan my next afternoon Padres game sometime in May.
I knew well in advance I would take these hours off so there was no decrease of productivity at work. I worked for only 4 hours before leaving early, getting lunch, and headed to the game. The weather was perfect. The day started with overcast, but the sun was bright and shining for by game time and throughout the entire event. No better way to relax in San Diego than time in the sun.
The weekday afternoon games are great deals for the budget conscious because they have 2-for-1 pricing in certain sections. I got field level seats for only $20, that originally go for $40. Hot dogs, better known at Petco Park as Friar Franks, also have 2-for-1 pricing. That makes the price of a hot dog at reasonable street prices. But because I had lunch prior to the game, I didn't have my favorite baseball food.
In terms of minor details for the day, I met an old friend from high school that I haven't seen for 9 years. I was surprised we both recognized each other. Then during the game, one of my best friends sat in the same section as I did so I sent her a text message to turn around. I talked to her for a few innings before returning to my seat. And lastly, the Padres won to remain in the lead in the NL West.
It's too bad I don't have Fridays off, as the game would have been a good start for a 3 day weekend. Alas I have to go back to work tomorrow, but Friday should go by faster as I'll have something to talk about while they were at work. I'll also be looking forward to and plan my next afternoon Padres game sometime in May.
Monday, March 10, 2008
Yearly review, annual raise, and bonus
Today at work, I had my annual performance review. It's a review of my performance as it relates to goals and milestones I established for 2007. The performance is weighted by several categories. 70% of the performance is related to meeting defined goals. 15% of the performance is related to job specific competencies. The last 15% of the performance is related to core competencies as it relates to our company's vision and quality goal. Within each of those categories are more specific sub-categories, but I will not go into those.
For each sub-category, I am given a rating by my manager. It can be one of the following: met expectations, exceeded expectations, needs improvement, or no feedback. Based on a scale of 4.0, I would receive a 3 for every category that met expectations. Therefore 4 means I exceeded expectations and a 2 means I need to improve in the area. Overall, I exceeded expectations in 5 categories, met expectations in 12 categories, and needed improvement in 1 category. Overall, I received a weighted score of 3.22 out of 4.
So what do those numbers mean anyways? Well those numbers directly affect my annual raise and bonus. Each year, the company sets a new baseline percentage that is standard raise if someone met expectations for every category. So, if they set the baseline raise percentage to be 5%, someone who received a weighted score of 3 would receive a 5% raise. A higher weighted score would receive a higher raise than 5%, and a lower weighted score would receive a raise lower than 5%. This year, the baseline was set at 4%, which is lower than previous year. Coupled with my 3.22 weighted score, I had an effective raise of 4.3% to go into effect later this month.
There are three factors in determining the annual bonus. They are individual performance, company performance, and bonus target percentage. Individual performance is taken from the weighted score. Company performance is similar to calculating the goal category for individuals. Bonus target percentage is the percentage of last year's salary that I can receive as a bonus if everything else met expectations. So if my bonus target percentage is 5%, I have the opportunity to make 5% of last year's salary as a bonus.
The bonus target percentage is differs for each position in the company. The breakdown is as followed:
15% - Directors and above
5% - Managers
3% - Supervisors and below
The equation is calculate bonus is complicated to explain, but for simplicity, the equation to calculate the bonus equals (individual performance) x (company performance) x (bonus target percentage).
I fall into the 3% category, so coupled with my weighted score of 3.22 and a company performance of 133%, I am receiving a target bonus equal to 4.2% of my salary last year.
In terms of actual dollars, my salary is now $51.8k, up from $49.6k, and my annual bonus is $2.1k. I'm not that happy with the actual numbers, but until I'm 100% vested in my 401(k), I will stick with my current company. I will try to find a higher paid internal position, but if that does not happen, I will look for career opportunities elsewhere.
For each sub-category, I am given a rating by my manager. It can be one of the following: met expectations, exceeded expectations, needs improvement, or no feedback. Based on a scale of 4.0, I would receive a 3 for every category that met expectations. Therefore 4 means I exceeded expectations and a 2 means I need to improve in the area. Overall, I exceeded expectations in 5 categories, met expectations in 12 categories, and needed improvement in 1 category. Overall, I received a weighted score of 3.22 out of 4.
So what do those numbers mean anyways? Well those numbers directly affect my annual raise and bonus. Each year, the company sets a new baseline percentage that is standard raise if someone met expectations for every category. So, if they set the baseline raise percentage to be 5%, someone who received a weighted score of 3 would receive a 5% raise. A higher weighted score would receive a higher raise than 5%, and a lower weighted score would receive a raise lower than 5%. This year, the baseline was set at 4%, which is lower than previous year. Coupled with my 3.22 weighted score, I had an effective raise of 4.3% to go into effect later this month.
There are three factors in determining the annual bonus. They are individual performance, company performance, and bonus target percentage. Individual performance is taken from the weighted score. Company performance is similar to calculating the goal category for individuals. Bonus target percentage is the percentage of last year's salary that I can receive as a bonus if everything else met expectations. So if my bonus target percentage is 5%, I have the opportunity to make 5% of last year's salary as a bonus.
The bonus target percentage is differs for each position in the company. The breakdown is as followed:
15% - Directors and above
5% - Managers
3% - Supervisors and below
The equation is calculate bonus is complicated to explain, but for simplicity, the equation to calculate the bonus equals (individual performance) x (company performance) x (bonus target percentage).
I fall into the 3% category, so coupled with my weighted score of 3.22 and a company performance of 133%, I am receiving a target bonus equal to 4.2% of my salary last year.
In terms of actual dollars, my salary is now $51.8k, up from $49.6k, and my annual bonus is $2.1k. I'm not that happy with the actual numbers, but until I'm 100% vested in my 401(k), I will stick with my current company. I will try to find a higher paid internal position, but if that does not happen, I will look for career opportunities elsewhere.
Sunday, February 24, 2008
Career or financial decision?
Yesterday, I was browsing the career sites for Pfizer (PFE) and Johnson & Johnson (JNJ). I used to own shares of Pfizer but sold them when they were not profitable to me. I still regularly invest in Johnson & Johnson by purchasing shares through a DRIP. Anyways, there was no jobs suited for me at Pfizer in La Jolla. There was one position open at Johnson & Johnson that is exactly what I am looking for. Career wise, it would be perfect for me to apply and get the job. Financial wise, I might be throwing away potential money I would have made just by staying at my current job.
At my current job, I invest in the employer stock purchase plan (ESPP) and have received stock options. At its highest point in the last 6 months, my ESPP was worth about $15k and my stock options were worth about $20k. Because of the volatility in the stock market right now, the ESPP is worth $12k and my stock options are worth about $10k. If I changed jobs, I could easily keep the $12k in ESPP because I already own the stock, but I would have to exercise the stock options and only receive $10k gross (~$7k post-taxes). I would lose out on a potential of $10k that the stock options could appreciate to in a bull market.
Comparing salary between my current job and Johnson & Johnson, a former co-worker in my department who made 20% less than me got a job at Johnson & Johnson and immediately made 6% more than me. So in the salary sense, a career change would be an immediate boost.
My 401(k) plan is another issue. I am not fully vested, so if I left before I am fully vested, I do not receive the entire company match. The way my 401(k) vesting schedule works, I get 25% of the company match after 1 year of working, and it increases monthly so that another 25% is vested by the 2nd year. It would take 4 years to receive 100% of the employer match during those 4 years. I am not due to hit the 4 year mark until May. I do not want to throw away retirement money that the employer gave me.
Finances aside, the career change would be a position with higher responsibility in a company that is recognizable around the world. In my current position, I have to explain in detail what my company does because it is not a consumer brand. With Johnson & Johnson, people immediately think "No More Tears" baby shampoo but also realize they make Accuvue contact lenses, Listerine mouth wash, and many other consumer products. In the R&D position, I can help change lives with my knowledge that can help bring a product to market.
Right now, I will hold off on applying to Johnson & Johnson. I will wait until May so that I can receive 100% of the employer match in my first 4 years of working. From now until then, maybe I can find another position within my current company to allow me to grow in the direction that I can see myself still doing in 5-10 years. That will allow me to hold onto my stock options and exercise them when they are valued higher. My former co-worker at Johnson & Johnson is one of my best friends. Ironically, I was her reference when she got the job there. When I do apply, I will ask her to submit my application internally because that has a better chance of getting reviewed since she can vouch for me.
At my current job, I invest in the employer stock purchase plan (ESPP) and have received stock options. At its highest point in the last 6 months, my ESPP was worth about $15k and my stock options were worth about $20k. Because of the volatility in the stock market right now, the ESPP is worth $12k and my stock options are worth about $10k. If I changed jobs, I could easily keep the $12k in ESPP because I already own the stock, but I would have to exercise the stock options and only receive $10k gross (~$7k post-taxes). I would lose out on a potential of $10k that the stock options could appreciate to in a bull market.
Comparing salary between my current job and Johnson & Johnson, a former co-worker in my department who made 20% less than me got a job at Johnson & Johnson and immediately made 6% more than me. So in the salary sense, a career change would be an immediate boost.
My 401(k) plan is another issue. I am not fully vested, so if I left before I am fully vested, I do not receive the entire company match. The way my 401(k) vesting schedule works, I get 25% of the company match after 1 year of working, and it increases monthly so that another 25% is vested by the 2nd year. It would take 4 years to receive 100% of the employer match during those 4 years. I am not due to hit the 4 year mark until May. I do not want to throw away retirement money that the employer gave me.
Finances aside, the career change would be a position with higher responsibility in a company that is recognizable around the world. In my current position, I have to explain in detail what my company does because it is not a consumer brand. With Johnson & Johnson, people immediately think "No More Tears" baby shampoo but also realize they make Accuvue contact lenses, Listerine mouth wash, and many other consumer products. In the R&D position, I can help change lives with my knowledge that can help bring a product to market.
Right now, I will hold off on applying to Johnson & Johnson. I will wait until May so that I can receive 100% of the employer match in my first 4 years of working. From now until then, maybe I can find another position within my current company to allow me to grow in the direction that I can see myself still doing in 5-10 years. That will allow me to hold onto my stock options and exercise them when they are valued higher. My former co-worker at Johnson & Johnson is one of my best friends. Ironically, I was her reference when she got the job there. When I do apply, I will ask her to submit my application internally because that has a better chance of getting reviewed since she can vouch for me.
Monday, February 11, 2008
Clothes as an investment
This month I already spent over $800 on clothes. Earlier this year, I had set my budget to $100/month. Last month, I was over by 90%, but that was before I had set a budget. Right now, I have spent about $820. I spent $520 last week on a suit, shirt, tie, and shoes I needed for a wedding I went to this past Saturday. I haven't bought a suit in 5 years since I graduated from college, so it was a purchase that can be justified.
However, just minutes ago I spent $300 on a navy pinstripe sportcoat. I am justifying this cost as an investment in my career. I have strong intentions on attending next week's career fair at Amylin (see my previous post), and the suit I just bought might be too formal for a career fair. A sportcoat with dress shirt and dress pants will be business casual, the attire proper for a career fair. If this $300 sportcoat helps me get a job, the cost will be well worth it. Even if it doesn't get me that particular job, it can help in future job interviews that are business casual such as internal job interviews at my present company. If anything else, it adds another dimension of sprucing up my wardrome.
However, just minutes ago I spent $300 on a navy pinstripe sportcoat. I am justifying this cost as an investment in my career. I have strong intentions on attending next week's career fair at Amylin (see my previous post), and the suit I just bought might be too formal for a career fair. A sportcoat with dress shirt and dress pants will be business casual, the attire proper for a career fair. If this $300 sportcoat helps me get a job, the cost will be well worth it. Even if it doesn't get me that particular job, it can help in future job interviews that are business casual such as internal job interviews at my present company. If anything else, it adds another dimension of sprucing up my wardrome.
Sunday, February 10, 2008
Career Fair
I was browsing today's edition of the Union Tribune like I do every Sunday, but something stood out in the Job section. A ad section for the Amylin Career Fair. Amylin Pharmaceuticals is one company I am willing to work for. I have applied there in the past but never got a response back. Sometimes it seems as if resumes get sent out into a black hole which you never hear from again 90% of the time.
The career fair is on February 21, and more information can be found at www.amylincareerfair.com. It lasts from 2 to 7 pm, which I can attend after work, but I am contemplating of taking the day off. It gives me ample time to prepare and dress. If I went to work, I would have to go home to dress if I did not want anyone at my work to find out I was looking elsewhere for a position.
The reason I would like to work for Amylin is that I strongly believe in their products and have confidence in their future pipeline. They are an established company with actual products in the market, so I can be assured with stable employment. I am currently in the biotech sector, but being in the pharmaceutical sector allows for more growth potential in a bigger market sector.
I have never been to a career fair like this before. I got my very first job at Sea World through a career fair they held, but they basically hired anyone with a pulse since it was a seasonal position over the summer. In addition to preparing for this career fair, I will now have to dedicate my time in preparing my resume and looking at my wardrobe to find something, which I can dress with to impress.
The career fair is on February 21, and more information can be found at www.amylincareerfair.com. It lasts from 2 to 7 pm, which I can attend after work, but I am contemplating of taking the day off. It gives me ample time to prepare and dress. If I went to work, I would have to go home to dress if I did not want anyone at my work to find out I was looking elsewhere for a position.
The reason I would like to work for Amylin is that I strongly believe in their products and have confidence in their future pipeline. They are an established company with actual products in the market, so I can be assured with stable employment. I am currently in the biotech sector, but being in the pharmaceutical sector allows for more growth potential in a bigger market sector.
I have never been to a career fair like this before. I got my very first job at Sea World through a career fair they held, but they basically hired anyone with a pulse since it was a seasonal position over the summer. In addition to preparing for this career fair, I will now have to dedicate my time in preparing my resume and looking at my wardrobe to find something, which I can dress with to impress.
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