You just found out that your role is being terminated. What next? In this module we'll walk you through three main elements to help make sure you have your bases covered:
🚪 A job exit checklist
🏥 Health insurance coverage
✅ Unemployment benefits
👉 What is it? COBRA is a health insurance program that allows employees (and dependents) to keep their health insurance plan if they lose their job.
👉 Could this be for me? If you have immediate medical needs, you want to keep your medical providers, or you need to retain existing coverage for medical conditions or specialty drugs, COBRA could be right for you. It could also be an easy option if you’re between jobs.
👉 How much does it cost? You cover the cost of the monthly premium your employer once paid in addition to the monthly premium you were paying, so it’ll likely be more expensive.
For more information check out Mento's COBRA Continuation Health Insurance Guide.
👉 What is it? Health insurance plans made available by private insurers on a public marketplace, where you can browse and compare different healthcare plans. All plans are required to provide 10 essential services, and are organized into four different price tiers. You can’t be rejected based on pre-existing conditions.
👉 Could this be for me? ACA plans are available to U.S. citizens, nationals and some immigrants during an open enrollment period (Nov-Dec). But, if you’ve lost your insurance or it becomes unaffordable, you could qualify to enroll in an ACA plan within 60 days.
👉 How much does it cost? The pricing depends on:
1️⃣ Your city and state, # of people on the plan, tobacco usage.
2️⃣ The type of plan you select (broadly organized into four pricing tiers).
3️⃣ Your household income. If it’s less than 400% below federal poverty level (~$51k) ,you could be eligible for subsidies and tax credits to lower your cost.
For more information check out Mento's Quick Guide to ACA Plans.
👉 What is it? Private insurers will offer a host of plans beyond what they make available on public ACA exchanges. These can be viewed directly on an insurers website or through a price comparison website.
👉 Could this be for me? If you don’t see options that meet your needs or your budget on your ACA’s state exchange, you’ve missed the enrollment period and you don’t qualify for special enrollment, private plans are always available.
👉 How much does it cost? This is highly variable depending on your age, number of people on the plan and how much medical coverage you think you’ll need. You can do some comparison shopping on a website like Stride Health to compare across a large number of private insurers.
👉 Catastrophic health insurance - basically, this only protects you from bills exceeding $6,600 if an unexpected medical disaster happens (i.e. you’re hit by a car)
👉 Medicaid - health coverage for low-income households
👉 Medicare - federal health insurance for people over 65 and certain younger people with disabilities
👉 Children’s Health Insurance Program (CHIP) - health coverage to children in families with incomes too high to qualify for Medicaid, but who can’t afford private coverage
👉 Join a spouse’s, partners or guardians plan: You might be eligible to receive healthcare coverage under either your partner/spouse’s plan or your guardian if you’re under 26. This could increase the cost of the plan, but could be cheaper than individual plans.
👉 High-Deductible Health Plans (HDHP) - Lower monthly premiums, but a higher deductible. You can combine a HDHP with a health savings account (HSA), an account to which you can contribute up to a certain amount of pre-tax dollars to cover qualified medical expenses.
👉 Flexible Spending Accounts (FSA) - If you’re on an employer insurance plan, you can contribute a certain amount tax-free to an account which you can use to cover out-of-pocket expenses. Your employer may contribute as well.
👉If you are a full-time or part-time* employee, you may qualify for unemployment insurance (UI) if you meet all of the following requirements:
⭐️ You’ve worked in the last 18 months as an employee
⭐️ You are totally or partially unemployed through no fault of your own (i.e. COVID-related layoff)
⭐️ If you’ve been furloughed
⭐️ Physically able to work
⭐️ Available for work
⭐️ Ready and willing to accept work immediately
⭐️ Actively looking for work
The stimulus package has made UI benefits available to the following groups:
👉 If you are are self-employed, freelancer, or an independent contractor (including gig workers)
👉🦠 If you’re sick or caring for someone who’s sick due to COVID-19 and you’re unable to work or have lost wages as a result, you can also apply for unemployment insurance.
👉 If you have exhausted your UI benefits, you might be eligible for an additional 13 weeks of benefits.
Before you start your UI claim, be sure to have the information below readily available to complete. Once you complete this application process and are approved, you will automatically be enrolled in the pandemic assistance program which will give you access to $600/week. You do not need to provide additional documentation beyond what’s included in the application outlined below.
⭐️ Social security number
⭐️ Driver’s license or ID card number
⭐️ Current mailing address and zip code
⭐️ A phone number where you can be reached from 8 am - 5 pm, Monday – Friday
Job & Employer Information
⭐️ Names, addresses of all of your employers, and the start and end dates over the past 18 months, including in other states.
⭐️ Wages earned and pay frequency (i.e. weekly) over the past 18 months
⭐️ Employer Registration number or Federal Employer Identification Number (FEIN) of your most recent employer (the FEIN should be on your W-2 or 1099 forms)
⭐️ Your most recent employer’s phone number and supervisor’s name
⭐️ The reason your hours were reduced or you are no longer with the employer
Case dependent information
⭐️ If you are not a U.S. Citizen and have a green card, your Alien Registration number
⭐️ If you were a federal employee, your copies of forms SF8 and SF50
⭐️ If you served in the military, your most recent separation form (DD 214)
Find your state’s website:
👉 Unemployment Insurance State Directory
You must file for Unemployment Insurance on your state’s website. It’s strongly encouraged to apply online as your claim will likely be processed faster.
For each week that you are unemployed and looking for work, you must re-certify your benefits to receive payment. You can do it quickly by answering a series of questions online every week.
‼️ Important: You have to pay taxes on UI payments. When you certify your weekly benefits, you can opt to have your taxes withheld from your payments, so you don’t have to track and pay taxes later!
Whether or not this is a time for you to reflect on what you want to do next, it is important to take some time to reflect as part of your preparation to find a new role. In this section you'll find resources to help you assess your talents, identify your strengths, and provide the necessary framework and motivation for you to accomplish your goals.
This module will help you:
✅ Learn what professional values are important to you
✅ Identify your key skills
⬇️ Work through the list below to complete this module. ⬇️
This module is split into two different sections:
💭 Imagine: Start dreaming about possible paths forward and expanding thinking.
🎓 Your development mindset: Evaluate areas for skills development.
As a Gold member, this is also when you will book your first full coaching session. Head over to the 🏋 coaching tab to view availability.
As a VIP member, after you've completed the activities, head over to the 🏋 coaching tab to book your second session.
Ask mentors or colleagues you admire about books you might read or podcasts you might listen to in order to brush up on certain topics or bodies of knowledge.
Relationships are a key part of our development, and accessing the collective wisdom of professionals in our field can help us stay connected and tapped into conversations related to our discipline. To learn more about mastermind groups, click here.
There is no better way to learn a topic at depth than to offer to teach it to others. Consider developing a presentation and offering it to a professional association, MeetUp group, or even your alma mater. This will also help you grow your network and personal brand. Or you can use a website like Teachable to create online courses.
Completing this module will help you:
✅ Identify target jobs and their qualifications or desired skills.
✅ Build the right resume for your target jobs.
✅ Tailor your LinkedIn profile to get more interviews.
✅ Get your resume & LinkedIn profile reviewed by experts.
⬇️ Work through the list below to complete this module. ⬇️
Here is what you can expect to get from this module:
🎗 Establish your foundational support systems & habits.
🔖 Get organized around your job search.
🔌 Learn how to get connected to find opportunities.
📹 Learn how to (remote) interview.
🤬 Learn how to handle rejection.
Resiliency and building it is the key to navigating the job market to find your best possible fit. It’s ok to interview at 20 jobs before you find the one. You just need one! But after not hearing back, feeling you ‘bombed’ the interview, it can be a challenge to pick yourself up, dust yourself off, and get back into looking for what’s next.
As David Goggins discussed in his book, “Can’t Hurt Me”, he talks about failure, struggle, and how all of this will happen, it’s a necessary part of growth and improvement. The key is to know it will happen and to have a plan for getting through the rough patches. Have a plan and rehearse it for when you’re in the low spot in life. Goggins refers to this as “reaching into your cookie jar” for support and resiliency development.
When dealing with rejection from a job, it’s important to do your very best to look at it as a business decision and not take it personally. Yet, saying this and doing this are very different issues when you need a job and you actually wanted a particular job you didn’t get. In order of importance, when you are feeling down:
🌤 Get outside for fresh air and get your heart rate going. When we exercise the brain triggers endorphins and other feel good hormones which will assist in getting and keeping us mentally strong.
✍️ Find a quiet and comfortable spot and journal out any feedback you received that upset you. Don’t try to ignore it, but take it in fully and examine it. If you don’t, you may carry this around in the form of anger as you haven’t fully processed it yet.
🎓 Identify at least one part of the feedback that you can accept and process. For example: you interviewed at a company, had a good interview experience, the recruiter or potential manager promised to get back to you and then nobody ever contact you again. How can you make this work for you? Perhaps a reframe is in order. Instead of “those jerks!” or “what is wrong with me?”. Could you consider that perhaps this isn’t a good culture for you if the employees don’t keep their word or they are so overworked they didn’t remember a promise made? If either of these are possible in your mind, could this be a positive indicator this wasn’t the right fit for you?
🤩 Next, do something very nurturing for yourself. Reread an old review from a past boss in which you were praised. Recall the details of a conversation where you were promoted or given a raise. Remember when you worked hard on a project and received an A+. You did all of these things! Right down as many positive memories you have of times you challenged yourself and were successful. Go back to this list anytime you need encouragement and to remind yourself of the strength inside you.
🙏🏾. Make a list of all of the people in your life that nurture you. Nurturing people will help you gain and strengthen a sense of your own competency and in being with them, you often leave the interaction feeling greater possibility in your life. Reach out for a meeting together and make sure and bring a small gift of thanks to nurture them, too.
🏇 Get back on the horse and make an immediate commitment to renew your job search. Thank someone that helped you recently by giving you advice or lending a helping hand in some way. Do something to help another person in need. When we help others, it can often make us feel better about our own situation.
🎨 Try a creative project - creativity is a great cure for criticism.
So you've got an offer (or multiple!) in hand. Now what? Completing this module will help you:
💵 Negotiate a better comp package.
🤔 Evaluate your best choice.
🚀 Take charge of your onboarding & build out a 30-60-90 day plan for your new job.
The simplest concept and the foundation of your compensation plan. Usually paid every two weeks for as long as you are an employee of the company. Relative to other compensation components, most companies have more strict policies around base salaries. Levels in your organization will typically determine what base salaries are possible. Some companies have overlapping levels (where an employee at two different levels may have the same base), while other companies have strictly separate bands. Ask your recruiter or hiring manager about salary bands as part of the interview process so you know where your offered compensation plan falls.
👉 This is usually provided annually, and usually calculated as a percent of your base - which means if you negotiate a higher base, you automatically get a higher potential annual bonus.
👉 Companies vary widely, typically a mix of individual and company performance. Individual performance is often rated on a simple scale and used as a multiplier. The multiplier is applied to the company outcomes to produce your actual bonus - for instance, a 150% multiplier on a 90% company performance result means you receive (1.5) x (0.9) x Target Bonus.
👉 Company performance may be a single number, but is more often a combination of elements, and in tech companies may be a mix of financial and user metrics (revenue and profitability, for instance; and DAU or MAU growth rates).
👉 It adds up to complex formulas, but most companies try to set these so that, in most years, the actual bonus payout for most employees is somewhere within 80-120% of what you would expect to achieve with standard performance.
Content coming soon.
Content coming soon.
👉 Benefits can be difficult to understand and calculate, and as a result are historically the most under-emphasized element of a compensation package. Company plans vary widely with little standardization outside of health and retirement plans. Nevertheless, the major components to keep track of are (cite BLS): health, retirement, PTO, disability/life insurance. Other major components include transportation/commuting, professional development, cell phone or computer stipend, parental leave and child support policies, free meals, fitness/gym stipend - the list goes on.
👉 When you receive an offer, you should make sure to ask for a benefits document. If it doesn’t provide the financial details of the benefits, ask for them. Then do the math to convert each benefit into an annual value, even if you have to approximate. You can find thousands of dollars in differences between benefits plans, so this is important to check.
This is a tactic companies use to limit your ability to explore the market. Think about it - very few companies have work so urgent it absolutely requires an employee start on a certain date. So, that means you should negotiate for an extension using data for your rationale, if possible, but also know if you'd be willing to walk away from the offer if they won't budge. Most companies are reasonable if it's a relatively short extension.
So many people are worried that asking for more (whether it’s more time to think about an offer or more money) will result in an offer being pulled. It’s important to understand that the recruiter’s job is to hire you. If you’re confident, clear, and polite in the negotiation process, you’re helping them make a great argument to their team that you’re the right person for the job.
A very common question candidates get is "what's your number?" Many recruiters aren't trying to limit your negotiating ability - they just don't want to spend time and effort with someone who expects their compensation to be 50% higher than what the role budget will allow. The best way to respond to this is to use market data for similar roles. You can reply with something like "It looks like similar roles have a total comp range of X-Y - is the role we're discussing in that range?" That way you're sharing the current market situation, not your personal preferences, with the recruiter.
While there has certainly been a drop in open positions, we haven’t seen a drop in what employers are offering. Most companies have a set budget for these positions, and reducing the number of new hires is part of an effort to maintain the same salary that they were offering before.
There are two factors contributing to this trend. Mainly, tech companies want to continue attracting talent. Competition between companies extends far beyond product offerings. Organizations are always competing for the absolute best talent and competitive compensation is the best way to do this. Another contributing factor has to do with equality within roles. Regardless of the circumstances, most companies try to avoid offering two employees with the same job significantly different compensation packages.
The Position: To determine whether a position you're offered is right for you, ask yourself the following questions and make sure you have clear answers to them: What in fact is the role? What are the responsibilities and expectations for it? Who does it report to? Where does it sit in the organization? Based on the responsibilities, expectations, reporting and organizational structure, is the position properly empowered to leverage all of your strengths? Are you confident you can be successful in the role?
The People: Employers will often check references on candidates they hire, but how about if you check the references on a company? Research on LinkedIn who you know that works at the company or who is connected to someone that does and ask for an introduction to ask some questions about culture, turnover, growth initiatives. Also, how well did you “click” with the people on the interview loop. Ideally the fit felt natural for you in the majority of the people you met.
The Product/Mission: Are you working in a company where you're confident you can make a material contribution to the company and are excited or inspired to work hard? Consider the company's business objectives: Are they going through a turnaround? Growth? Acquisitions or divestitures? Understand how you fit in and does this build excitement?
The Potential: Many will accept jobs that may be perceived as a step back from the last job they had pre-COVID. Inquire about the speed of hiring at the company and any policies around promoting from within. Ask the interviewers if they are doing the same job they were hired to do and how they may or may not perceive internal growth opportunities.
The Place: With the forced switch to remote and distributed work teams, are you comfortable with any required onsite time, travel, or working remotely full time? Is the job, if onsite time is required, in a location you can easily get to by public transportation or via driving if needed? Test the commute during typical rush hour.
The Pay: Some job seekers may accept pay cuts due to a period of high unemployment, but the most crucial question is your own perceived fairness about the pay rate. All of us need to feel we are paid fairly for the work we are doing for there to be long-term job satisfaction. If this is not possible (yet), inquire about pay policies in general. Example: have salaries been reduced at the company and if so, is there a timeline for reviewing these again?