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Research with a purpose
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May 4, 2001: 8:04 a.m. ET
Internet can be a good source for job information, but often too broad
By Peter Weddle
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NEW YORK (CNNfn) - Research has always been a key element of any successful job search campaign, and the Internet is a dream source of employment-related information. There's both good news and bad news when it comes to conducting research online. The good news is that the Internet is rich in easily accessed and helpful information. The bad news is that so much information is available, it's hard to know what to look for.
How can you organize your online research to make sure that it generates the information you need to find a new or better job? Recent studies suggest that you should focus on two key areas: preparation for interviewing and networking. This column is the first in a two-part series that will explore how to tap the Internet's information sources in these key areas.
Interview preparation
A survey conducted by Lee Hecht Harrison, the outplacement company, found that an astonishing 40 percent of all Internet job seekers actually get an interview.
To capitalize on that success, however, you have to be well prepared. That preparation should include acquiring information about both the organization with which you will be interviewing and your current "value" in the labor market.
The more you know about the employer, the better able you will be to assess its fit with your goals and preferences. And the more you know about the salary and benefits currently being offered to others with your skills and experience, the better able you will be to negotiate an appropriate compensation package for yourself, should the organization follow up the interview with an offer.
The Internet has many sources of information about employers. They range from simple descriptions of an organization's industry, product or service lines, executives, facility locations, stock price, and recent news releases to much more detailed assessments of its financial stability and subjective assessments of its culture and practices.
- For company descriptions, try Hoovers Online and Companies Online;
- For financial assessments of publicly traded companies, check out the Deathwatch at Downside.com. It uses a company's filings with the U.S. Federal Government to calculate if and when it is likely to run out of money, given its current revenue and expenses; and
- For opinion and commentary about what it's like to work for an organization, take a look at what its current and former employees are saying around the Electronic Watercooler at Vault.com. Although the postings can be insightful, recognize that some are heavily influenced by personal agendas.
- For the latest compensation and benefits trends in your profession or industry, visit the Web site of your professional association or trade group. The easiest way to find these sites is to use the free, worldwide Association Directory at my site (www.weddles.com);
- For current salary information in your occupational field and region of the country, visit the Salary Wizard at Salary.com, the Salary Info links at Job Star and SalariesReview.com, which lists salary information for 5,800 U.S. and Canadian locations; and
- To compare the cost of living in your current location to the cost of living somewhere else, check out the salary calculators available at Homestore.com and Monstermoving.com.
As in the real world, research on the Internet can be time-consuming and marginally helpful or efficient and very productive. To make sure that your research pays off, focus on acquiring information that will help you interview effectively with prospective employers and secure a compensation package that reflects your true "value" in the labor market.
Peter Weddle is one of the nation's leading experts in online job searching. He has written numerous books, including "Career Fitness" and "CliffsNotes: Finding a Job on the Web." For more information, please visit his site at www.weddles.com. 
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