Beth Lawlor, president, Private Wealth Management at U.S. Bank, has built a successful career in banking over 25-plus years. Here, she shares lessons she’s learned with recent graduates.
What advice do you have for someone who is unsure what they want to do right after graduation?
Not knowing what you want to do after graduation is extremely common. Many people feel pressure to have a clear plan, but careers typically aren't linear; they're lattice. They develop through trial and error, through experimentation, rather than one single big decision.
My advice is: don’t choose a lifelong path at 22; just choose a next step. Separate the job you want from what life you want to lead. Ask yourself what you want your life to look like, where you want to live, what kind of daily routines matter to you, whether you want adventure and how much money factors into your choices. Often, people struggle because they’re trying to pick a career when really they’re trying to decide what kind of life they want.
Look for clues about what makes you happy, what you’re good at, the classes you've enjoyed, the projects you loved working on, the problems you like to solve, the activities that energize you. You may not find the perfect job that includes all those things, but we all kind of have natural inclinations. I love being around people, I love public speaking, I love the thrill of the chase. I would be miserable in a behind-the-scenes operational job because I know how I’m wired. Take an honest assessment of who you are, what you’re good at and what you want to learn.
A good first job is often one that builds skills, provides mentorship and gives you exposure to different kinds of work. Your first job is not going to be your last job. Many people end up in careers that have little resemblance to what they did at age 22, so don’t put so much pressure on yourself.
What advice would you have for someone going on a first interview?
The strongest candidates make it easy for the interviewer to say yes. You have to show, rather than tell, why you’re right for the job. Many resumes say, “I have strong communication skills, I’m a team player, a problem solver.” Instead, provide evidence of your skills. It could be a portfolio of projects from school or a work internship, a website you launched, a business you helped create or writing samples. Even one substantial project can make you more memorable than a long laundry list of skills.
My son was a psychology major at Boston College. His resume noted “Division One athlete for the women’s varsity basketball team.” He was graduating with honors from a good school, but the first thing interviewers asked him about was the women’s varsity basketball team. He was a great basketball player in high school, but knew he wasn't good enough to play at BC, so he qualified for the men’s practice team that played against the women’s varsity team. In interviews, he used that experience to talk about competition, hard work, discipline, teamwork and leadership. My son showed rather than told, and that made him stand out.
Also, research the company and be specific. Instead of saying “I think your company has a good culture,” say “I’m excited about your expansion efforts on the East Coast.” This shows genuine interest in the firm and separates you from the crowd.
Recent grads can face a lot of rejection. How do you recommend they deal with disappointment and setbacks along the road of job hunting?
It’s not easy. One of the hardest things for candidates to learn is that rejection and failure are not the same thing.
Rejection doesn’t mean you failed. Rejection may mean that somebody else was a better fit, knew someone at the company or was an internal candidate. You can’t control how many candidates applied, whether the firm had a hiring freeze or what internal politics were at play. Instead, focus on what you can control: your preparation, resume, application, appearance, punctuality and presence. Treat it like a process, not a verdict.
Once a recent grad lands that first job, what are the skills that are the most important for success?
Communication skills, bar none, are the most important. Recent grads grew up with cell phones, texting and abbreviations, and some are less comfortable with one-on-one conversations or formal business writing. Develop skills around public speaking, writing clear emails and creating reports that explain complex ideas simply. Ask good questions, present recommendations confidently and handle difficult conversations professionally.
A close second is analytical skills: the ability to break down problems, evaluate evidence, interpret data, identify root causes and simplify complex situations.
The third vital skill is the ability to learn quickly. Industries, technology, software and markets change. People who can teach themselves new tools tend to outperform those who rely solely on what they learned in school. People who can learn on the fly and pivot are very valuable to employers.
Recent grads might be coping with financial issues, like paying student loans, rent and other expenses. What financial advice would you have for a young person starting off on their own?
The biggest issue we see with recent grads is lifestyle inflation. It’s easy to fall into the trap of increasing spending every time you get a higher-paying job, raise or bonus. When those things happen, try directing part of that increase toward emergency savings, student loan repayments and long-term investing.
Building an emergency fund is essential. It can help you sleep at night if you lose your job, need car repairs or face medical expenses.
Also, pay yourself first. If your employer offers a retirement plan, consider contributing at least enough to receive the full employer match. If you can’t do that, save as much as you can. Starting to save for retirement when you’re young matters, because compounding can help your money grow over the years and decades.
You often speak to women’s groups and offer them advice. Do you have any advice for young female graduates?
Don’t sell yourself short, be confident and accept that you won’t have everything figured out as a young person. Women’s voices matter equally. Women now represent a higher percentage of college graduates than men in this country, which is quite different than decades ago. It’s OK to make decisions that don’t align perfectly with the career you’ve envisioned, because life is complicated. Don’t beat yourself up when things don’t go your way. I always say to women: Give yourselves grace.
You have two children, both of whom have graduated college. What advice did you give to them as they graduated?
I told both of them that adulthood isn’t a test where the people with the best plan win. Most people live one decision at a time. Some decisions are good and some are not, but you learn, adjust and move forward. In your 20s, it’s OK to take some risks. You can be brave earlier in life because your responsibilities are often lower than they will be later, when you might have children, a mortgage and car payments. You have a long runway.
It’s OK if you fail, because you will learn from it.
I also told my kids: Be somebody people can count on. Talent and intelligence matter, but over a lifetime, reliability earns enormous trust and builds relationships. Show up, keep your word and treat people well. Being trustworthy every day will define you for the long term – not just in your career, but in your life.
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