5 ways to thrive after graduation
Congrats grad! So, what now?
Consider these options to help you decide your next move.
May. 09, 2023
5-minute read
For some young adults, the moment of walking across the graduation stage marks the start of an exciting journey toward independence and “real world” life. For others, the question, "So, what are your plans after graduation?" is anxiety inducing.
The good news is there's no right or wrong road to take during this life phase. Whether you think of this time as a launchpad or as a period of contemplation about what's next, here are five potential post-grad paths to consider.
1. Continue your learning journey
Your education doesn't have to end when you leave the campus. In some ways, it's just beginning. Consider these opportunities to keep the journey going:
- Pursue your post-grad or master’s degree: Considering continuing your studies? If you’re interested in specializing in your field, you may want to head back to school to earn your post-graduate or master's degree. To help pay for your tuition and expenses, check out the CIBC Professional Edge Line of Credit.
- Find an apprenticeship: This can be a great path for those interested in learning a trade or art form. Interested in woodworking? Want to experience a day in the life of an electrician? An apprenticeship may be an ideal choice for you.
Whether you love team sports, bestselling books or obscure video games, there's likely a social organization out there to match your interests. Scan bulletin boards, put the word out on social media and check local community spaces to see what's offered.
Travelling is one of the best ways to expand your horizons. Experiences abroad can also be a valuable career advantage, providing exposure to another language and global business practices.
You can get the benefits of travelling without breaking the bank. Here are a few tips:
- Plan your trip for shoulder season: Avoid destinations swarming with tourists at peak times of the year. Instead, focus on less in-demand locales during the off-season.
- Travel with friends: Splitting expenses with someone can cut the cost of travel in half or more. At the same time, you'll have a chance to cement a bond and build lasting memories.
- Use a dedicated travel card: Choose a credit card with no annual fee, like the CIBC Aventura Visa. It allows you to rack up points that you can redeem for flights and hotel stays. It can also help you build credit, which will be important for future life milestones.
4. Gain new work experience
Whether it's an internship, an entry-level job or a volunteering opportunity, the professional moves you make now can lay a foundation for your future career.
Here are a few ways to begin brainstorming:
- Get an internship: One of the most popular ways to gain work experience is through an internship. These can be paid or unpaid periods of work that usually last a couple of months. Look at it as a test-run for a potential career!
- Talk with friends and family: Sometimes, sharing your thoughts with loved ones can help you find clarity. Older family members who have "been there, done that" might have valuable advice to share.
- Find a mentor: Mentorship can help you get your foot in the door of a competitive industry or learn the inside scoop on a profession you're considering.
5. Start cultivating professional relationships
Networking isn't always about attending stuffy events or conferences. You can begin building a network in your own backyard.
These are a few places and opportunities to start:
- Social media: Put the word out that you're looking to connect with others in your target industry.
- University and College alumni groups: Connect with fellow graduates at alumni events, annual meetings or even virtually. Sign up for your alumni organization's digital newsletter.
- Recruiters: Connecting with a recruiter on LinkedIn or other professional platforms can give you exposure to opportunities not advertised elsewhere.
Assess your finances and set a budget to help reach your goals
There's no getting around it. Managing finances is a critical part of post-grad life. Now is the time to get a handle on your complete financial picture.
Take time to truly understand your needs versus your wants and make a budget that puts your needs first. Some examples of needs are things like groceries or rent payments. Your wants could be things like a concert ticket or the latest smartphone.
By focusing on the things you need, you can begin to see how your wants fit into your budget. It’s not about denying yourself, but rather prioritizing your spending so that you can treat yourself occasionally and still have money for essentials like groceries.
Pro-tip: Track your income and expenses with digital tools
Develop and stick to a budget, while staying on track to reach your goals, with our helpful CIBC Smart Planner tool.
If you find yourself struggling to create and stick to a budget that works for your lifestyle, an advisor can help you break down your expenses and cashflow.
Remember, this next life phase is all about opportunities. Don’t put too much pressure on yourself to have all the “right” answers, right away. Forging your own path forward starts with taking that first step off the graduation stage and into a life of your own design.
Need some financial advice?
Book a chat with one of our advisors. They can help set you up for success, today and into the future.