-
Estimated reading time
6 minIn this article
- Some of the essential life skills your first job can teach you
- Four things you need before you start work (they’re easy to set up)
- How you can job hunt – from social media to walking into businesses
Whether you’re flipping burgers, starting a babysitting side hustle, or selling products in a department store, having your very first job is a huge deal.
Not only is it a great stepping-stone into the world of making money, but it can help you make meaningful connections and give you invaluable life and career experience.
What do you need before your first job?
Aside from having a can-do attitude, there are four important things you need to organise before applying for work.
- You’ll likely need a Tax File Number (TFN). Your TFN is a personal reference number that you give to your employer when you start work so they can pay you properly and withhold the right amount of tax from your pay. If you don’t give your employer your TFN, then you’ll pay more during tax time. You can apply for a TFN on the Australia Taxation Authority (ATO) website.
- You need a bank account so your employer can send you the goods. Ideally, your pay should go into a transaction account as you’ll use it for everyday purchases and payments. You can also open a savings account to put away a bit of money every time you get paid for a bigger money goal.
- Choosing your superannuation fund before working is something that requires a little bit of research, but it’s worth it to get the best fund with low costs and solid returns. But most workplaces have a default fund of their choosing, which is where your super will go if you don’t nominate your own account – do what works for you.
- Make a resume or CV where you can list your skills and any previous experience, even if it’s something like volunteering at a charity. There are plenty of resume and CV templates that you can find online, so all you need to do is add your information into the template (and proofread the document before applying).
How can you find your first job?
Nowadays, there are plenty of ways you can search for, and get, your first job.
- Go to online job boards, like Seek, and have a snoop. They usually post a job description, location and the hourly rate or annual salary, so you can get a read on what to expect.
- It really can be about who you know. Chat with your contacts, like family, friends and school career counsellors, to see if they know someone in their social circles who is hiring.
- Lots of companies nowadays are posting job adverts on social media. Follow your favourite companies and keep your ear to the ground (or eye to the screen) for any job opportunities.
- You can do things the old-fashioned way and hand in your resume to a business in-person.
- And you can gain valuable skills by doing work experience or an internship.
3 things your first job can teach you
- Working can put you on a path towards good financial wellbeing. You’ll be earning your own money, so you’ll need to pick up a few money management skills they don’t teach you in high school – like budgeting and saving. As a starting point, check out the 50/30/20 budgeting method. This is when you put 50% of your income towards needs (like food), 30% to wants (those concert tickets) and 20% towards goals (a new car).
- A job can teach you some essential skills that you’ll use throughout your life, like communication and organisation. Your first role is also a great way to figure out what you like about work, and what you need to feel balanced and grounded. For example, do you prefer working solo or with others? Do you like working at home or in an office? Asking these questions (and others) can help you narrow down the career you want long-term.
- Earning an income = kick-starting your financial goals. You can divvy up your pay so you’re actively working towards a big financial goal, like saving for a home deposit or a holiday. There are also plenty of hacks out there to help you grow your savings while you keep on working (compound interest for the win).
Hot tip:
Every job is an opportunity to expand your skills in preparation for your next one. Just don’t get suckered in by the Dunning-Kruger effect (over-estimating your skills, talents and experience). Instead, be honest about your gaps in the interview process and reflect on when you showed a similar skill to bridge the gap. And if you don’t get the first or second job you applied for, then you’re walking away with valuable job-applying experience. The more resumes you write up and interviews you do, the better you’ll become at them – putting you one step closer to job-hunting success.
Buying your next home?
See our home loan tools, articles and resources to help you explore your home loan options. We'll help you get to a good place.