What nobody tells a young job applicant.

by The Dad

I’ll be the first to say that it took me a long time to move away from the idea that where you graduated from college was one of the most critical parts to your resume. It is very easy for a young applicant to mask a lack of job experience with a degree from a well-known institution.

But times they are a changing and unfortunately, I don’t think young people these days (our kids) are being told the profound hard truth. Here is the truth:

Bad credit can wreck your career before it even starts.

I have been recently interviewing for an assistant to join our firm. It’s probably on par with an entry level type job in a typical corporate setting.

Most of the applicants have been youngish in age, all very bright with strong resumes. But in my line of work, we do an extensive background check and I have been amazed at the extent to which these young people have terrible credit.

I mean horrible credit.

Parents if you want to bestow upon your child a gift that will reward them for their entire life, send them into the workforce with good credit. They will automatically have a leg up on the competition.

Good credit matters, a lot.

While this is just my personal observation, these young applicants just don’t seem to grasp the significance of it. It is hard enough being young and trying to find your way in this world, but to do it with a 500 credit score is infinitely harder.

Trying to get a degree as fast as you can at the expense of racking up debt is a fundamentally bad idea. Take your time, if it takes 1 or 2 more years to finish so be it. But if you come out with little or no debt, you have done yourself a tremendous favor.

Not only does it provide you with the flexibility of job choices, but it also gives you a competitive advantage over all the other job applicants.

Believe me when I say this, having a 4.0 GPA is great but if your credit is garbage it won’t make a damn bit of difference what your GPA is.

If you want a job that is the starting point to a real adult career, then take care of your credit. So many young people treat their education like a job. They stay focused and committed and while that is admirable you have to think of your credit history in the same light.

Guard it, develop it with care and patience.

As a parent, it’s almost impossible to impart these ideas on a teenager. But do it anyway. Continually reinforce why this matters and why their decision can honestly make or break getting a dream job.

It’s sobering, but its the real world. We as parents have a critical role in this process and no parent wants to see their child struggle over something that could potentially be avoided.