The NESACS Blog
From the Northeastern Section of the ACS, focusing on career management and development
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07/06/11
Mature workers. Reality check on salaries
Filed under: Mature professionals, Observ. Trends
Posted by: site admin @ 3:48 pm

I got to view the most recent ACS salary survey and
interrogated it differently. 

What happens to chemists’ salaries after they are 45?
Figure 1 in the report indicates that BS and MS
degree holders remain flat after 20-24 years of
experience.  Ph.D. degree holders are faced with
only modest “cost of living adjustments,” if any,
after about 25 years after their BS– their late 40s.

This is a general trend, seen in not only chemical,
materials and pharmaceutical firms,  but also many
other sectors, including high wage earners,
specialists and managers, Schultz and Silver-Greenberg
reported.  This affects lifestyles, retirement planning
and long-term investment planning for most of us.

Action items to consider:
1.  plan your retirement savings using worst case
scenarios
2.  live on a lower income scenario over the last
ten working years;   save the difference in income
bearing accounts
3.  assess your employability at age 50.  If your industry
is weak, your company will not survive or your skills are
not competitive, consider changing (careers, companies,
line of profession).
[Many people I know were caught short.  They
are paying the price as their children are in college.]
4.  develop new, advanced learning skill sets that may
borrow from your experience, technical know-how,
and business savvy.  (dividends from these investments
may not come right away and may be smaller.)
5.  devise an estate plan, investment plan and a
retirement income plan in your early 50s to deal
with the inevitable.  Delay taking your pension,
social security, dipping into your retirement savings,
 and extend medical and wellness benefits.

1 comment
Interviewing. Feedback after being hired
Filed under: Interviewing, First Year on Job, Mature professionals
Posted by: site admin @ 2:26 pm

It stunned me when I heard her tell me what her
supervisor stated at her first annual review.  She
was hired a year ago and has been applying her
skills and learning new things about herself and
her responsibilities.  It has not been easy, she said. 

The first annual review was positive– learning on
the job, applying her skills, developing confidence,
and very good customer relationships.

Her supervisor said she was most impressed by
her because she actually read and understood the
company’s mission statement and values before
the interview.  She works with them in mind, the
supervisor said, as she offered a meritorious review.

While I have read many company core values,
mission statements and mottos myself in annual
reports and web pages, it seemed like many
contain the same elements.  So, I decided
to review a few dozen mission statements and
core values.  Here is what I learned:

The tend to be grouped into three general
categories:

Business focus
  1  world leader in products, services and solutions
 that enable and transform gathering, managing
 distributing and communicating information
  2   world’s largest manufacturer of semiconductor
 equipment
  3   to earn money for its shareholders and increase
 the value of their investment, through controlling
 assets, growing the company and properly
 structuring the balance sheet.
  4  provide branded products and services of
 superior value and quality that improves the
 lives of consumers, everywhere (yielding profits)
  5  be the most efficient and innovative global
 provider of semiconductor solutions
  6  grow a diversified business, deliver more
 products of value and simplify the operating model

Employee concern and respect communities
  1  global family with a proud heritage passionately
 committed to providing personal mobility
  2  live up to our responsibilities to serve and
 enhance the communities in which we live and
 work and the society on which we depend
  3  people, compliance & governance, public
 policy, environment, suppliers, human rights,
 products and services, customers and communities
 
Customer and innovation
   1  to discover, develop and deliver innovative
 medicines that help patients prevail over serious
 diseases
   2  improving human health, ethics and integrity,
 innovation, access for all, diversity and teamwork

Some, like Boeing and DuPont, were a combination
of all three, emphasizing one or a number of their
leadership’s core issues.

So, knowing all this, what are your take-aways?

BUSINESS MISSION AND VALUES IN INTERVIEWS
About a third of companies will interview candidates
and ask what they know about the company and
what it stands for….and will expect you to know.
[a third will not ask nor care too much about it;
a third would like it of you know, but not make their
hiring decision to based on you knowing.]

You generally will not know what the interviewer
will ask and expects.  So, it behooves you to make
the effort to know and understand the mission and
core values for your interview.

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