Personal Positioning

By Paul J. Kostek

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for Engineers

Published by IEEE-USA. Copyright 2007 by the IEEE. All rights reserved. Printed in the U.S.A. Edited and compiled by Georgia C. Stelluto, IEEE-USA Publishing Manager Cover design and layout by Gregory O. Hill, IEEE-USA Electronic Communications Manager This IEEE-USA publication is made possible through funding provided by a special dues assessment of IEEE members residing in the United States. Copying this material in any form is not permitted without prior written approval from the IEEE.

Table of Contents
Introduction Identifying Your Choices What Employment Option is Right for You? For Students Finding the First Job Direct Employment Contract Employment Consulting Self-Employment/Business Ownership Career Options for Direct Employees Company Size: Do Numbers Equal Career Strength? Making Your Choice Are You Positioned? Sample Business Plan Sample Consulting Contract Sample Resumes Creating a Portfolio References/Resources 4 5 5 6 7 8 9 11 15 16 18 19 20 21 24 25

Personal Positioning for Engineers

Introduction
In the 21st century, employment options will obviously be expanding and changing. What we do today may not be what we do tomorrow. Globalization, outsourcing, mergers and acquisitions will impact how we work. We will determine success by our ability to position ourselves to take advantage of opportunity and respond to change. In this e-book, well look at several different employment and career options for engineers to help you determine which ones will work for you. Not all of the options will work for each person, and the key to succeeding is to understand yourself, how you respond to change, and what level of risk you can deal with. Along with looking at the different employment options (direct/contract/consulting/starting a business), youll be asked to consider a series of questions on each of these options. We will also look at such career options as moving into management versus staying technical, working for a large company versus a small company, and private industry versus government agencies. And at the end of this e-book, hopefully you will have learned more about employment opportunities for engineers and how they might work for you. I dedicate this book to Leann for her wit, wisdom and love. ~ Paul J. Kostek 1999 IEEE-USA President, 2007 Vice President, IEEE-USA Technology Policy Activities

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Identifying Your Choices

Think about the past 10 years in the engineering profession. After a period of extraordinary growth, the engineering profession hit some turbulence, with demand for engineers slowing, and now it is beginning to surge again. The lesson learned for anyone in the profession or just beginning their career: opportunities still exist during a downturn; they just may not be exact matches to what we seek. As engineers in todays marketplace, we need to take responsibility for our careers and adjust to changes in the employment environment. We need to practice personal positioning exploring the options available and then determining which best suit our individual needs. We all pursue different goals in our careers and define success in different ways. Traditionally, most engineers have opted for direct employment with a company, government agency or academic institution. But today, employment options have expanded; opportunities exist in: Direct Employment Contract Employment Consulting Self-Employment

Within these broad areas, engineers can consider management or technical paths in large, medium-sized, or small companies, and they can even choose between start-ups and established organizations.

What Employment Option is Right for You?

Before we start looking at each of the options, youll need to start with a self-assessment. The first question is: Where am I in my career? As you think about this question, ask yourself: Am I where I want to be? Am I going in the direction I want to? Or am I moving in the direction everyone thinks I should? Next, you might ask yourself: Where am I going? Is this where I want to be? If not, how do I change directions? Do I have the skills I need? Should I stay with my current employer or remain in the same industry? Should I pursue a new direction perhaps with a new employer in a new industry? To help you answer these questions, and identify others, you need one or several mentors. Depending on where we are in life, we have all used our parents as mentors, maybe with the initial decision to go into engineering. In college, a professor might have been a mentor helping us decide on internships, grad school, and that first job. In industry, our mentor could be a senior associate, manager, or even our college professor. You need not limit yourself in terms of the number of mentors you really just need people with experience that know you and your strengths and weaknesses, who can help you make decisions.

Personal Positioning for Engineers

For Students Finding the First Job

Interviews
As you approach your senior year of college, or are completing grad school, youll need to add another task to your daily schedule, interviewing for jobs. Check with the career center on campus to learn when companies are coming in. Start to use the contacts youve developed over the past few years. Dont want to wait too long, because the job market is so cyclical for engineers that a market that was booming when you started school may have cooled when you graduate or vice versa. No matter what the market, you need to develop a plan to find the job you want. Start interviewing early and often when youre getting ready to join the job market. If you are targeting a particular company, you should also interview with other companies for practice, and to get comfortable with the process. And you never know, one of these interviews could result in an opportunity that interests you. Even if it is just a practice interview, make sure you research the company. As a professional courtesy to the person doing the interview you should understand what their company does. Practice doesnt mean unprepared. You never know what an interview will uncover. If youre not sure what industry or company you might be interested in, take some time to think about which classes you enjoyed in school, and what industries and companies might be a match. Another good practice is to follow up contacts from internships have frequently companies use internships as a means to select candidates for direct employment. As you wrap up an internship, make sure you keep in contact with the manager you worked for and with your other team members. They may be able to help you find an opportunity with that employer. Use contacts from professors, classmates, professional associations (such as the IEEE), and family to find opportunities. If a professor is involved in research with a company you are interested in, make an appointment to meet and discuss the company. If youve been an active member of a professional association branch chapter, like IEEE Student Branch or IEEE-USA S-PAC, use the contacts youve gained to find out which companies are hiring in the local area. And if you have a particular area of the country you want to work in, contact the IEEE Section there and ask for assistance. Talk with classmates to learn where they are interviewing. You may find someone with an offer and no interest in the position or the company. Talk to your family about what you are interested in doing. Sometimes, its all about who you know. Check out company Websites, newspaper ads and Jobsites (e.g. IEEE Job Site, IEEE-USA Employment Navigator, Monster). Youve got nothing to lose by posting your resume, but its more about learning what is going on in particular industries from these sites than it is about getting a job offer. Look for sites with a specific focus. Many companies use the IEEE Job Site because they know its members will have the particular background they are looking for. Company sites can give you an idea of what is happening at a company, what skills are in demand, and those that are not. If you have an interest in a certain company dont let the lack of an opening that fits your experience stop you from applying. You never know when you might be a match.

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Direct Employment
Most direct employees those working for a company, agency or organization can expect to receive regular paychecks; some career guidance; medical, vacation and retirement benefits; and training support. While all of these perks are nice even necessary training support is a benefit every direct employee should take advantage of. If you are a direct employee, pursue an advanced degree or complete a certificate program; attend seminars and conferences; or simply take courses that will help you build your skills set. Your employer will reap the benefits of employees who gain and use new knowledge. Whats more, increasing your personal intellectual property will be one of the most important things youll do for yourself. After all, your knowledge is the one thing youll take with you when you leave an employer. So, what kind of benefits can you expect from a company? Some might include a pension plan; 401(k); medical, dental; and vision benefits. In todays market, you may not get the traditional Defined Benefit pension plan; rather, you could end up with a cash balance plan, along with a 401(k). What is the difference from years past? The onus is now on you to save for your retirement and make the selections of where to invest. For engineers who are years into their careers, this change can have a negative impact on plans for retirement. For anyone just starting out, it is a chance to grow dollars for your future. If you work for an employer offering a 401(k) match make sure you take advantage of this free money, invest at least the minimum to ensure you received the match, you never want to leave money on the table, or pass up the tax advantages. Remember: Access and study your companys benefits plans to maximize any additional health and family funds you can set aside. What is one negative of working for a company? Youll be signing over intellectual property (IP) rights to anything you might invent while in the company employ. If you pursue ideas outside of work, make sure you know the limits on the company IP agreement. That way, you dont have any surprises later. As I mentioned earlier, you should use every dollar you can on education benefits -- graduate school, courses, seminars, conferences, etc. Take everything you can -- its better to have employers say no more, than have them wonder why you never take any classes.

Here are some questions to think about when you are considering working for any type of organization:
Do you prefer a sense of stability? (For example, do you need to know where your next paycheck is coming from?) Do you need benefits? Do you like being part of an organization?

Personal Positioning for Engineers

Contract Employment
Some engineers choose to work as contract (or temporary) employees. These professionals often receive assignments through a contract firm that pays them an hourly rate. The contract firm usually keeps a percentage of the total fee charged to the company for their overhead. Some contract firms provide 401(k) plans, paid vacations, and have medical plans. However, in most cases, contract employees are responsible for providing their own benefits. And they must seek and participate in training and continuing education activities on their own. While many contract companies now offer access to 401(k)s youll want to explore individual pension planning further, including setting up a Simplified Employee Pension Plan (SEP-IRA). Youll also need to look at your personal costs for medical, dental, and vision coverage. In addition to what the contract company is offering, you should check out IEEE membership benefits, benefits from other professional organizations you may belong to, and benefits available through your spouses employer, if applicable. While some contract firms will provide some training to assist you in meeting the requirements of a particular assignment, for the most part youre on your own. As a contract worker, youll need to invest in your own training and skills development. So, be sure to follow current trends to ensure you have the right skills. Youll need to allocate time out of the office and without pay, and attend training classes, seminars and conferences. But the time out of the office doesnt have to be a loss: add value to your training time by networking and marketing yourself. Even if you have a solid work assignment, you still want to know whats happening at other companies, and become acquainted with as many people as possible. If youre in the information technology field (IT) youll need to expand your credentials through certain certifications. Some companies base their hiring on certifications; others dont. Make sure you have the right credentials the any situation. So, why do people contract? Some people like working with ever-changing assignments and for different companies. They enjoy selecting their assignments and the opportunity to learn new skills. For others, money is the motivator a higher rate and the ability to incorporate means you can write-off many expenses at tax time. And employers like to use the contract to direct hire method to ensure employees will be a good fit for their organization. As a contractor, contract companies, or shops will pay you. The contract company usually pays an hourly rate, and some companies will offer to split out part of the rate as a per diem (i.e. tax free). This per diem will be yours to cover expenses. Contractors working out of town can use the per diem to cover housing, food, transportation and any other incidentals. Make sure you always plan ahead before taking an out-of-town assignment. If the rate isnt high enough, you may end up losing money on an assignment. Not good for succeeding in business! So, know your value and negotiate a rate that will cover expenses, plus allow you to make a profit. If you bypass the contracting shops, and contract directly with a company, the employers may pay you and then issue a 1099 like a W-2 form for contractors. It will list what you were paid for the assignment, and you must keep it for tax purposes. Companies can also issue purchase orders to pay

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you but it is not the norm for people contracting in the technical fields. A great resource for anyone thinking about contracting is CE Weekly (http://www.ceweekly.com/). This publication gives you exposure to many contract firms and contracting opportunities. If you have questions about contracting, pick one of the companies that lists a position you are interested in and call. Talk about the position, duration, location, rate, etc. A good relationship with a contract firm can keep you employed, and it will also allow you to learn about industry trends.

Questions to ask yourself about the contracting assignment:

Are you flexible? The assignment you were brought in for may change. Are you a quick-learner? Company employers are not interested in training you, and expect you to be ready to go to work. Youll need to have a list of core questions: What standards or processes are we using? Where can I get copies? Are you a self-motivator? Dont expect to be rewarded like direct employees, or included in their activities. Are you comfortable*not* being part of an organization? Are you willing to spend time and money to update your skills?

Consulting
The fundamental difference between consultants and contractors is that consultants are responsible for finding their own assignments and covering such expenses as taxes. Consultants can be members of a large or small firm, or can be independent practitioners. Either way, they must often pursue licensing and registration. Registration is legally required for all consultants who call themselves engineers, and who sell their services to the public or to companies. Corporations are covered by an industrial exemption -- as long as at least one employee has a PE license, the other engineers on staff are exempt from licensing. Both consultants and contractors are responsible for their own benefits and training. Issues relating to pension planning (SEP-IRA) and other benefits are similar to what a contract employee has to deal with ditto for training and skills development. The biggest difference between contracting and consulting will be in finding assignments. You wont have the luxury of a contract company bringing you offers. Youll need to find your own assignments so, that means you must network more and do more self-marketing,. Even while working an assignment youll need to allocate time during every week to market your services. You can wait until you complete an assignment, but to delay could mean time without income so more planning ahead. For many engineers, self-marketing is the hardest part of being a consultant, and its about more than just having a prepared elevator speech. It means having an exact knowledge of what it is

Personal Positioning for Engineers

you bring to a company. What can you offer that their current employees cant?

You Need a License

To call yourself an engineer in the United States, you need a license. Licensing is done state-by-state and state licensing boards control it. Once you get your license, you can sell engineering services. Not being licenses doesnt mean you cant do business as a systems architect or designer just realize if a drawing needs to be signed or you need liability insurance, a professional engineering (P.E.) license is essential. Licensing will also require you to get a certain amount of training hours per year. This requirement also varies by state, so youll need to allocate time and money to keep your license current. If you work in software development, some states are still struggling with the concept of how to license a software engineer. Ever taken the Fundamentals of Engineering (FE) exam? Not many computer science majors are ready to take a test with thermodynamics. Students will want to consider taking the FE during your senior year while the information is still fresh in your mind. After a few years, youll need a refresher course to remember much of the test content. Tests are offered for EEs (with power and digital emphasis), MEs, CEs, Structurals, etc. Check out www. ncees.org for information on the FE and the other exams.

Also, Insurance
Youll need some level of liability insurance, and most companies will expect you to have at least one million dollars. Thats a $4,000 investment -- or more, depending on your specialty. Besides your own insurance agent, investigate how the IEEE can help its members with insurance needs. Getting paid is one of the biggest issues for independent consultants. Expect that many large companies will wait as long as possible to pay your bill. How can you work around payment delays? Offer a discount on your fees for payment within 30 days. But, be aware that at some point youll end up talking to your lawyer about taking action to get a bill paid. How can you prevent a lot of legal hassles over getting paid? Vet your clients. Find out what other consultants have experienced when trying to get paid networking can help you more than just getting your next assignment. Check on the health of a company ahead of time. Hesitate before taking a gig with a company hovering on failure. Youll need to provide a contract to any company you do business with. Appendix A has a sample contract you can review, and you can also find a sample on IEEE-USAs Website at www. ieeeusa.org/business. In addition to the rates youll be charging, the contract should also include a description of the deliverables, the schedule, and identify a point of contact within the company. Setting your rate will be one of the first steps youll need to take. How much you charge will depend on your skills and experience, the marketplace youll be serving, and the type of industry in which you will be working. You need to set a rate that will not only cover expenses, but also allow you to make a profit. If you are a typical engineer employed by a company, your pay rate might be $45/hour. But the loaded rate can be $110/hour and that will cover facilities, overhead, benefits and profit. You can gain some ideas on what rate to charge by talking with other consultants and checking out the

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IEEE-USA Consultants Profile 2006 survey on the IEEE-USA Website. Talk with other consultants. And ask someone to mentor you through these initial stages of establishing your practice. Mentors can help you with setting rates and finding first clients. You will also need to develop your Website, as it will become one of the key marketing tools for your practice. Your website will hold valuable information for potential clients, such as skills, rates, services, a client database and references. As mentioned earlier, its also always wise to have good legal counsel for anyone considering becoming a consultant. Sit down with a lawyer, and explore what option would be best suited to setting up your company: incorporation, S-corporation, limited liability company, partnership, sole proprietorship, etc. Each type has tax implications, and its best to work with your lawyer and accountant to determine what makes the most sense for you. How you set up the business will determine whether you can write off the home office. When first starting out, consider partnering with an established consultant on projects, or just to meet with and talk about how business is progressing. Take a look at what the IEEE-USA Consultants Network can offer you in terms of finding assignments and partnering with others. Also, read The Best of Todays Engineer on Consulting, an e-book that addresses many of the topics raised in this chapter, available for only $4.95 to IEEE members at www.ieeeusa.org/e-books. Consider joining the IEEE-USA Consultants Database (www.ieeeusa.org/consultants) to advertise your services to potential clients. And take full advantage of the IEEE-USA Consultants Network to obtain the resources and contacts you need to get started in consulting.

Questions to ask yourself:

Do I have skills that are needed and companies are willing to pay for? Do I have contacts to get business? Do I have/am I willing to develop the marketing skills required to sell myself? Am I self-motivating? Am I willing to spend time and money to update my skills?

Self-Employment/Business Ownership
Self-employment is generally defined as owning ones own business and providing either a product or service. During the dot.com revolution of the 1990s, funding for new businesses or in most cases, good ideas was easy to obtain. So why do engineers not pursue starting their own businesses? One reason is risk. To be an entrepreneur is too undertake risk, and to understand the probability of failure and still proceed. Engi-

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neers are trained to identify risks and find ways to stay away from them, eliminate them, or, at least, reduce them. Risks can make starting a company a huge problem. But venture capitalists are more than willing to fund interesting ideas that might or might not pan out. In todays market, venture capitalists are looking much more closely at ideas, and then going beyond the ideas themselves. They want to know how large the market is; if the company already viable; how much company founders have invested; etc. If youre interested in starting your own business and want or need funding, then you must develop relationships with venture capitalists (VCs). Consider whether you have the financial resources to support yourself, as well as provide benefits for yourself and your family. VC funding from will come after youve invested your own and perhaps even family money. Then, you might consider seeing about angel investors, people with money willing to invest smaller amounts ($25,000 to $100K) in a business.

Business Plan
Youll need a business plan to get started. Your plan should address what your company will do, can do, and what it will produce; the team that will run the company; and what financing you need and have. Use this opportunity to identify your strengths and weaknesses, and make sure you have people working with you that have skills you dont. Go to http://www.score.org/template_gallery. html for a business plan template and other planning tools. A business plan needs to include the following: Mission Statement - Overview of the business model and strategy Background - Companys history, finances, ownership, key personnel Marketing - Competitive environment, customers, strategies Production and Manufacturing - Processes to make a product or develop a service Finances - Funding sources, projected sales and costs, returns, cash flow, break-even analysis Human Resource - Who will handle which jobs, and compensation

Other Resources/Funding
Check out the IEEE-USA Entrepreneurs Village (www.ieeeusa.org/careers/entrepreneurs/), a support

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network and resource directory for those involved in entrepreneurial businesses. Another great resource for information and resources is the Small Business Administration (www. sba.gov/starting_business/index). Other organizations, such as the Service Corps of Retired Executives (SCORE) at www.score.org can also provide assistance with developing a business plan. Your local Small Business Administration office can also assist you they typically offer classes to help you get started. Also check out local colleges and community colleges. In my home town of Seattle, the University of Washington and Seattle University business schools provide assistance to small businesses. Many schools also have entrepreneurial centers. The Small Business Development Center at Bellevue Community College, www.conted.bcc.ctc.edu/sbdc/index, in the suburbs of Seattle, is one example of such a resource. And you can see additional funding through grants via the Small Business Innovation Research (SBIR) Program. SBIR grants will help fund an idea from concept development to production, in three different funding stages beginning at $50,000. You can also submit such proposals to selected government agencies: Department of Agriculture Department of Commerce Department of Defense Department of Education Department of Energy Department of Health and Human Services Department of Transportation Environmental Protection Agency National Aeronautics and Space Administration National Science Foundation

These agencies have set aside funds for SBIR grants. Go to www.sba.gov/SBIR/indexsbir-sttr for more information. Another way to receive funding is to consider partnering with large firms. For example In Situ Group has partnered with Boeing on the Scan Eagle. Partnering will allow you to expand the reach of your company, provide funding, while keeping control of your business. You can work with different companies in many ways, depending on your experience and contacts. Many companies have small business development organizations that youll want to explore. Its a virtual alphabet soup of definitions for small businesses:

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SB (Small Business) SDB (Small Disadvantaged Business) WOSB (Women-Owned Small Business) SBHZ (Small Business HUB Zone) HBCU (Historically Black College/University) MI (Minority Institution) If you can fit your business into one of these categories, then you can increase your opportunities for success. Making partnering contacts at large companies can be as easy as using an existing contact at a company, or checking out Commerce Business Daily, which lists current contract awards and bidding opportunities. Much like consulting, youll need to begin to attend the meetings and conferences that company business development managers attend. Then, theres venture capital (VC). We all hear about it and want it, but how do you really get it? The days of funding good ideas are gone, and many VCs expect you to have already tapped your savings, home mortgage(s), credit cards, parents and friends before they will provide funding. Youll need to target a VC that works in the area youre interested in? How? It takes networking and also following local business news. Once you find the VC, if you have someone that can make an intro, then youll have a better chance of getting your business plan read. If not, locate the trade association that best fits your business model, and find out if they can help you. Here are several Websites to check out: The National Venture Capital Association (www.nvca.org/) and the Venture Capital Resource Directory (www.vfinance.com/home). In the Seattle area, the Northwest Entrepreneur Network (www.nwen.org/Northwest) helps startups to find capital and staff. Check out local business papers to see what organizations are active in your area. You could also consider angel investors. Again youll need contacts to find those individuals who may be willing to invest in your company. Of course, depending on the nature of the business you start you may not need any funding. If youre producing a service or software product, the costs for hardware has dropped enough for you to be able to go it alone. Besides funding, the next steps will be finding staff and a place to do business. Addressing the latter first, depending on the nature of your business, you may want to have employees work from virtual offices. As for staff meetings, as we say here in Seattle, What else is Starbucks for? Finding staff and knowing when to add staff is one of the most important decisions youll have to make about your business. You dont want to take this step too soon.

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Questions to ask yourself:

Do you have a product or service? Have you investigated the market for your product/service? Do you have the financial resources to support the business and yourself?

Career Options for Direct Employees

If, after considering your options, you think direct employment is right for you, you will have several additional options to consider. Do you follow a technical or a management path? Do you seek out a large, mid-sized or small company? Is an established organization preferable to a start-up?

Management versus Technical Tracks

One positive change in todays marketplace is that it has become far more flexible. It is now much easier to move back and forth between management and technical roles. Because the marketplace has become so competitive, companies cannot afford to have people in the wrong positions. And even with restructuring and the penchant for outsourcing seen in companies today, management opportunities do still exist. You just have to be open about your objectives and you have to be willing to make a change perhaps to a new company to achieve your management goals. You will need to make choices on a technical track, too. For example, will you be a generalist or a specialist? This decision will be a key to the career and skills development decisions you will make throughout your career. When pursuing the technical route, be sure to monitor industry trends to determine whether change along the way is necessary. Going into management requires different skills and training than staying technical. Dont pursue an MBA degree until youve worked a few years. Many of the famous programs wont accept you in without experience. But do consider it, once you have a little time invested with a company. If youre interested in joining one of the large consulting firms, an MBA can be required to move up. For most engineers, whether you are pursuing the management or technical track, you would be wise to take some project management training. Youll learn about schedules, budgets and staffing. Especially for young engineers, such skills will help you to better understand how a project is organized, and why meeting your schedule within budget is so important. If you are interested in pursuing a management track within your company, make sure your let your current manager know. Ask for opportunities to lead projects and teams. The experience will give you a better understanding of what it takes to manage, and at the same time give you visibility within your organization. If you are planning to stay technical you should look at an MS degree. A PhD makes sense if you are interested in pursuing an academic career, or will be working in research. Employers in our industry have differing views about PhDs, and you should learn about a companys culture before joining

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them. Most employers do not require licensing, with the exception of the power industry. However, in some companies movement, into senior positions cannot happen if you are not licensed.

Questions to ask yourself about management:

Do you enjoy working with people and enjoy helping them to learn and grow in their careers? Are you interested in the business side of the industry?

Questions to ask yourself about staying technical:

Do I like solving technical problems? Do I enjoy working with the latest technologies? Do people issues interest me?

Company Size: Do Numbers Equal Career Strength?

In addition to deciding which path to follow, you must also consider the size of the organization you want to join. Large companies can provide a wealth of options in terms of exposure to technologies, projects and management positions. However, such companies tend to be bureaucratic, and you may not be exposed to the work of different groups within the organization. In a small company, you may have limited technologies at your disposal and fewer project and management choices, but you will have the opportunity to work with many different groups in a more intimate environment. Lets talk more about company size. Large companies can allow movement and better support attempts to position yourself. They also have better education, healthcare and retirement benefits. Small companies may not be able to support education and training. In addition to working for a company, many engineers also work for federal, state and local governments. Traditionally, civil service jobs have not paid as well as private sector jobs, but they did offer job security and the opportunity for early retirement. Though more work is being outsourced to contractors, opportunities can still be found. And with the looming retirement of a large percentage of employees, opportunities will increase even more. So why work for the government side? Well, speaking for many of us that became aware that the opportunity to work for NASA during the space race in the 60s, provided an opportunity not offered by private firms. The excitement of space resulted in an attraction that built todays engineering workforce. The dramatic X-Prize competition has recently changed the competition for the X-Prize. Richard Branson and Paul Allen now offer commercial tourist flights into space. And Jeff Bezos (Blue Origin) has other

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space projects in the works. Besides NASA, such organizations such as the Department of Defense (DOD) and the Department of Energy (DOE), and entities such as NIST, offer interesting opportunities for engineers that they might not find in a commercial venture. The national labs have been expanding their mission beyond weapons to energy, nanotechnology and communications. Working for a state or local entity can also provide flexibility in terms of picking where you want to live, and also a greater amount of stability. You are also making your state/city/county a better place to live by contributing to the quality of life there.

Is the Cornerstone Date Important?

Beyond sheer size, company age is also a consideration. Should you join an established organization or a start-up? The dramatic growth of start-ups in the 1990s and the availability of venture capital provided a window for quick wealth that was not previously available to most technical professionals. Start-ups were a career choice few engineers would have considered previously. The bust in 2000 brought many professionals back to reality, but opportunities do still exist with start-ups. Who joins start-ups? In the 90s it seemed everyone was jumping from established companies to join a start-up, pursuing the get-rich opportunities offered by options. The dot.com implosion led to a decrease in people willing to pursue this option. In many cases today, we see new college grads taking the plunge. The mode of thinking is something like, Well, if Im already carrying $100,000 in student loans, why not take the risk? And who are the other players in this new environment? Retired engineers -- with a pension in place, many are willing to take the risk. And sometimes the risk ends up being a good fit -- high energy, tech-savvy, new grads, alongside individuals experienced with delivering high-end products.

Questions to ask yourself about start-ups:

How much risk can I live with? Will I be able to sleep at night not knowing if my company will be in business tomorrow? Can I survive on a reduced salary and do without benefits, while I experience the excitement of being able to contribute to a new venture?

How About Academia?

Some engineers will consider an academic career track. For this particular route, youll need a PhD and a focused area of interest. For a PhD, youll be looking at a five- to seven-year commitment. During this time, youll be teaching and assisting with research. Publishing and presenting at conferences and symposiums will also be necessary. After you complete your degree, youll need to decide whether youre interested in the teaching or the research track.

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No matter which track you select, all professors are looking at finding funding for projects. Many of the same skills needed to start a business apply to academics. Your selection of research or teaching will determine at what school youll end up. Large universities will be looking for researchers, while smaller schools will want someone focused on teaching. One of the challenges of the academic route is achieving tenure. New PhDs will begin their careers as assistant professors. Successful teaching records, research and administrative duties lead to tenure. The tenure process typically takes five-seven years to achieve, and leads to one becoming an Associate Professor. The final step is being named a full Professor. One of the challenges for anyone pursuing an academic career is finding a university to join that will provide the opportunities needed to reach tenure. Because of funding problems at some state-run universities, sometimes achieving tenure can be difficult.

Making Your Choice Are You Positioned?

The keys to positioning yourself for success are understanding where you are in your career and where you want to go; determining the level of risk you can live with; and accepting the fact that in todays marketplace, change is the only given. From there, the options are yours for the choosing. Ask yourself why you are interested in the option you are considering pursuing. Work with your mentor to determine if this option is the best one for you. The following additional questions should be considered as you move forward with positioning yourself:

What have I learned about myself from answering the questions in this book?
Am I a risk taker? Am I conservative? What are my present responsibilities? How open to change am I? How would I react to a sudden change? Do I know the current market conditions? Do I have the skills I need? Do I have a network in place? You must respond as quickly as possible to opportunities and challenges to succeed in todays marketplace. Whether its a new job, promotion, or unemployment, we must be positioned to respond. And responding means understanding what we need from a job; what we can give up; and whether the solution is long- or short-term. I hope you find the ideas and questions in this e-book useful today and throughout your career. The questions should be able to help you think about what youre looking for in your career and

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identify the best options. We can only ensure we have successful careers and are able to develop and respond to opportunities by learning how to position ourselves best for success.

Sample Business Plan

Following is a Business Plan outline. Business plan forms are available from the SBA, and there are many online services. The following are the seven items that any plan should address, especially if you are looking for funding.: Summary Highlights 1.1 Objectives 1.2 Mission 1.3 Keys to Success 2.0 Company Summary 3.0 Services 4.0 Market Analysis Summary 5.0 Strategy and Implementation Summary 6.0 Management Summary 7.0 Financial Plan

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Sample Consulting Contract

Sample contracts and contract services are available free at the IEEE-USAs Consultants Website (www.ieeeusa.org/business), and for a fee from such firms as www.digicontracts.com and www. contractedge.com. The sample that follows is from Contract Edge.

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Sample Resumes
Following are examples of resumes for direct employment (chronological and functional), contract/ consulting.

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Creating a Portfolio
No matter what your career path, consider developing a career portfolio. This portfolio is analogous to the one architects would bring with them when meeting about work. In this case, youd develop a portfolio of employment: education (degrees, certificates, conference and seminars attended; company training, etc); projects youve worked on, your role; samples of design; professional activities; awards; patents; copyrights; trademarks; publications; papers written and presented; references; community activities; and any other activity you want to track. You can go to the IEEE-USA Website (www.ieeeusa.org/careers/cam) and use the Career Asset Manager Index (CAMindex) or create your own using a database tool. Numerous books abound on this topic, and it is well worth considering developing a portfolio. Portfolios can be a great resource when youre putting together a resume, contract proposal, or looking for a promotion.

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References/Resources
1) 2) 3) 4) 5) 6) 7) 8) 9) The Best of Todays Engineer on Consulting (E-Book) Georgia C. Stelluto, Editor (www. ieeeusa/communications/ebooks IEEE Job Site (careers.ieee.org) IEEE-USA Employment Navigator (www.ieeeusa.org/careers/employmentnavigator) IEEE-USA Consultants Services (www.ieeeusa.org/database) IEEE-USA Consultants Database (www.ieeeusa.org/consultants IEEE-USA Consultants Profile 2006 (www.ieeeusa.org/communications/eBooks/) IEEE-USA P.E. Exam Review Courses (salaryapp.ieeeusa.org/rt/salary_database/shop) IEEE-USA Salary Service (salary.ieee.org) Industry Associations and other contacts: Commerce Business Daily (www.cbd-net.com) Listing of contract awards, bidding opportunities Small Business Administration (www.sba.gov) Advice, business plan, contacts, funding SCORE Service Corps of Retired Executives (www.score.org) Can help with business plan, contacts Aerospace Industries Association (www.aia-aerospace.org) Supplier Management Council Working Groups The National Venture Capital Association (www.nvca.org/) Venture Capital Resource Directory (www.vfinance.com/home.asp?ToolPage=venca.asp)

American Electronics Association (www.aeanet.org) Semiconductor Industry Association (SIA) (www.sia.org)

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