At this time of year, after graduating from college, what advice can you give me as I begin the next part of my life?

I hope each graduate can enter an occupation in which they will be happy and make a living, be a good community citizen and not stop learning. Some people graduate not knowing what they would like to do after they receive their degree. For most people, the choice is obvious: get a job, go to graduate school, take time off to do something you may not be able to do later in life or enter the military.

At graduation time, 30 to 40 percent of graduates have accepted a position in industry, government or the not for profit sector or are getting ready to enter graduate school, another thirty to forty percent are interviewing or considering opportunities and the remaining graduates are wrestling with what they would like to do. For the latter group, getting advice from friends, family and former teachers, reading about various occupations and talking to people in some of these occupations are helpful. Former Senator Lincoln Chafee told the graduating class at the University of Rhode Island to "go waste" a play on the term "go west" which means follow your dream by doing something to find yourself. This is admirable if you can afford the time and money to support a dream. Most college graduates have to begin repaying college loans six months after they graduate which makes it difficult to take time off from moving ahead with their lives.

How do I know how much I am worth in the job market?

A range of salaries often appears in job advertisements. Salaries are also reported by occupation in state and federal government publications such as the U.S. Department of Labor, Bureau of Labor Statistics, Occupational Outlook Handbook. Professional associations and executive compensation firms report on salaries. The data is historical and needs to be adjusted for inflation, geographical area, education and experience. Salary information is also available through the internet at CareerBank.com, Salary.com, SalaryExpert.com, indeed.com and CareerJournal.com. All of this information will give you an indication what you can expect in salary when you go to a job interview. The salary does not include fringe benefits which can add up to as much as thirty-five percent of the salary.

I am planning to invest in a franchise in the fast food industry. Are there any downsides to this decision?

Franchising is a form of business ownership in which you will pay fee and royalties to a company to use its trademark, sell its products or services and use the business model and system it has developed. There are more than 2,500 franchisors operating more than 500,000 separate outlets which account for more than 35 percent of all retail sales and employ more than 8 million people. The benefits of becoming a franchisee include association with a well-known brand name or product and help in setting up and running a business.

The franchisee also receives training and support, buying power, financial assistance and site selection and territorial protection. The drawbacks are the franchise fees and royalties you have to pay whether you are successful or not, restricted freedom over purchasing and product lines, following strict guidelines set by the franchisor and market saturation. When you become a franchisee, you minimize the mistakes often made when starting your own business. Franchising is not for everyone. Make sure you read the information about the franchisor before making a decision. Understand the financial arrangements - the initial franchise fee, money you will be asked to provide to open the franchise- and the continuing royalty payments and other fees. Also, is the franchisor growing? Visit and talk with franchisees, check with the Better Business Bureau and the Federal Trade Commission to make sure there are no complaints against the franchisor and have a lawyer review documents before you sign them.

Why do some few companies come to college campuses to interview prospective employees?

Many companies have downsized their human resources departments and do not have the personnel to visit large numbers of college campuses to interview prospective employees. Some of these companies participate in job fairs where individuals from numbers of colleges can attend and learn about job opportunities. Companies will visit those college campuses where they have been successful in the past in hiring individuals who have become successful when employed by the company. Colleges with nationally recognized programs attract companies to their campuses. There are also situations where senior executives send recruiters to the colleges from which they received their degrees. With the internet, an individual interested in working at a company can collect information and apply on-line for a position. Students should also take advantage of meeting speakers from companies who guest lecture in their classes.

What is your opinion on psychological tests in the employment process?

Testing is used by companies to determine an individual's strengths, weaknesses and ability to operate under different situations. There are also tests for measuring skills and aptitude for a specific job. In most cases, tests are used to support a hiring decision rather than to prevent someone from getting a job. It is part of the hiring process. Research is divided about a test's ability to identify the best candidate for a position since some individuals test better than others. Testing can be useful in providing information on an individual being considered for a position if the company understands the weaknesses of the test.