CNBC make it 2024-03-19 02:00:52


A top Costco executive just gave an update on the fate of the $1.50 hot dog and soda combo

Since 1985, there have been two constants at Costco: Richard Galanti has been chief financial officer and the famous hot dog and soda combo has cost $1.50.

Last week one of those finally changed, and it wasn’t the price of the hot dog.

Galanti on Friday retired after 40 years as one of the wholesale retailer’s top executives. In an interview with Bloomberg, he addressed the fate of the famous frank whose career will now outlive his own.

Asked if anything would happen to the iconic combo once he was gone, Galanti had a succinct response.

“It’s probably safe for a while,” he said.

It was a slightly more measured response than one of the last times the long-tenured executive addressed the Costco food court’s flagship product. During a 2022 earnings call, he joked that “lightning just struck me” after he was asked if the hot dog would raise its prices.

Galanti said at the time that Costco would leverage the other parts of its business to keep the ¼-pound all-beef frank at the same price it has had since the Reagan administration.

“Some businesses that are doing well with margin … those things help us be more aggressive in other areas, or, as you mentioned, hold the price on the hot dog and the soda a little longer — forever,” he said.

Indeed, Galanti told Bloomberg that “the Costco culture is to keep it simple.”

Though the chain could make decisions that would benefit it financially, he said Costco is content to stick with what has worked for it.

“We generate more money than we need every year,” he told Bloomberg. “I’m not trying to look for the last penny by doing something a little more risky.”

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If you and your partner use any of these 5 phrases regularly, your relationship is stronger than most

Speaking to your partner with respect and appreciation is important, especially in times of conflict.

The most successful couples, according to psychologists, regularly express devotion, understanding, and contrition.

Here are the five phrases that couples who have a strong connection use most, according to experts.

1. “Thank you.”

John and Julie Gottman are psychologists who have studied more than 40,000 couples in search of answering the question: What makes love last?

The one phrase they say all successful couples use often is “thank you.”

“A thriving relationship requires an enthusiastic culture of appreciation, where we’re as good at noticing the things our partners are doing right as we are at noticing what they’re doing wrong,” they wrote for CNBC Make It.

This is especially true for small, everyday acts, they say.

“Tell them why that small thing is a big deal to you: ‘Thank you for making the coffee every morning. I love waking up to the smell of it and the sounds of you in the kitchen. It just makes me start the day off right,’” they say.

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2. “Help me understand this.”

Harvard psychologist Cortney Warren says successful couples don’t avoid conflict, they just better navigate it.

We often assume we know what our partner is saying when in reality they might be expressing something more nuanced or totally different.

“If your partner reacts to a situation in a way that you don’t understand, telling them that you want to know them better is key to resolving conflict and bonding at a deeper level,” Warren wrote for CNBC Make It.

3. “I can forgive you. Can you forgive me?”

When you’re in the heat of an argument or at the end of one it can be hard to express forgiveness. Do it anyways, Warren says.

“Studies have shown that couples who practice forgiveness are more likely to enjoy longer, more satisfying relationships,” she says.

4. “I am committed to you.”

“Being in a relationship is a choice,” Warren says. “Reassuring your partner that you’re still choosing to be with them and to work through challenges will help create a sense of safety and stability.”

This might seem obvious, but communicating your promise to one another can help you and your partner feel validated.

5. “I like you.”

“The healthiest couples don’t just love each other, they like each other, too,” Warren says. “Loving someone is an intense feeling of affection; liking is about seeing them for who they are and acknowledging the attributes you enjoy about them.”

Even if you and your partner aren’t arguing, remind them that you like them.

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The 16 worst-paying college majors, five years after graduation

Students who major in liberal arts, performing arts and theology earn the lowest salaries within five years of graduating from college, a recent New York Federal Reserve analysis reveals.

All three majors made a median annual income of $38,000, the lowest out of the 75 majors in the study. Other low-paying majors include leisure and hospitality, history, fine arts and psychology, all of which made $40,000 or less per year.

For context, that’s slightly less than the U.S. personal income median of $40,480 as of 2022, per the latest data available from the U.S. Census.

Here’s a look at what the lowest-paying majors earn early in their careers.

With liberal arts degrees, graduates tend to get paid less overall, for various reasons. For one, their skills may not be directly related to generating revenue, even if their vocation is a benefit to society.

Or, it can be a case of too few well-paying jobs compared with the number of graduates each year, as is the case for fine arts degrees. As such, the lack of demand can drive down wages.

Education majors tend to be paid less, as well. While teachers have good job security, summers off and pensions, they’re usually paid by state governments, which have lagged in keeping wages commensurate with inflation. In recent years, the “teacher pay penalty” has gotten worse, according to the Economic Policy Institute.

Unfortunately for teachers, they don’t fare much better later in their careers. When looking at “mid-career” graduates — those ages 35 to 45 — education majors are the worst paid among all majors.

Here’s a look at the mid-career rankings.

Early childhood education majors in the middle of their careers earn the least out of all majors. With a median annual income of $48,000, they only make $8,000 more than they do right after graduation.

In contrast, the highest-paid majors for both early and mid-career earners tend to be in science, technology, engineering and mathematics, otherwise known as STEM fields. 

Engineers earn the highest median income right after college, with computer engineers ranked first at $80,000 per year. Their pay grows to $133,000 by the time they’ve reached the ages of 35 to 45, the highest of all majors.

It’s worth mentioning that mid-career graduates all make more than the U.S. personal income median of $40,480. The median pay for all mid-career majors is $75,500, according to the New York Fed.

Data for this annual study was compiled from U.S. Census data from 2022, the most recent available. The study excludes majors currently enrolled in school and is limited to a working-age population of those ages 25 to 65 who work full-time, with a bachelor’s degree or higher.

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3 red flags recruiters look out for in job candidates: They’re how you ‘get blacklisted’

A majority of people, 95%, intend to look for a new job this year, according to a January 2024 survey by jobsite Monster. And many anticipate it will be challenging. More than half, 68% say they think it will be difficult to find one given the state of the economy.

While finding work opportunities can be challenging, there are ways to conduct yourself that could make doing so even harder.

“There’s something called validation seeking behavior, aka desperation,” says Lindsay Mustain, a former Amazon recruiter and current CEO of career coaching company Talent Paradigm. She adds that “it’s that ‘pick me’ energy that actually repels the opportunity.”

Here’s how to avoid giving it off.

Don’t apply to a company over and over

First, avoid applying to jobs in the company over and over again, especially in a short period of time.

If Mustain sees that “you’ve applied 20 times in the last two years and we’ve never hired you once,” she says, that’s a red flag. She immediately thinks, “something’s wrong with that candidate for them to have not been hired by this point.”

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Regardless of how much of a fit you might be for the job, a recruiter’s likely not going to take the time to investigate your candidacy further.

“This is how you can kind of get blacklisted,” she says. Try to limit your internal applications to a maximum of five roles that you closely align with in the company.

Don’t use LinkedIn’s ‘open to work’ banner

Another red flag for a recruiter: the “open to work” banner on LinkedIn.

Just by putting up that one signal on the site, “we already know that you need something,” says Mustain. It means that you might not be as picky when it comes to your job opportunities, that you might not be moving your career forward in a measured way that helps you build skills and get better.

“It reduces the appearance of being a high caliber candidate,” she says. Plus, it changes the dynamic in a conversation with a hiring manager. Now, they’re not trying to convince you of a great job opportunity because they want you at the company. Instead, you’re trying to convince them to consider you.

Nolan Church, CEO of talent marketplace Continuum and ex-Google recruiter, agrees. Using the banner “actually feels to a hiring manager like desperation,” he previously told CNBC Make It.

“It’s kind of like asking for a handout on the corner,” says Mustain.

Don’t show up ‘very wounded and hurt’ on social media

Finally, if you’re unemployed, don’t post your unemployment status on social media, especially if you’re inclined to do so from a place of hurt. Mustain gives the example of a post like the following:

“I just got laid off and I have two kids at home and I really need another job, like, as soon as possible. So if you could please introduce me to every person that you know that has a possible opening, I would be so grateful.”

Though sad and a cause for sympathy, people who post like statuses are “showing up very wounded and hurt,” she says. They’re “bleeding out on social media.” Ultimately, they’re showing a weakness in a similar way to people who include the “open to work” banner on their LinkedIn profiles. It’s clear they need something.

A post like that “repels people because they’re not coming from a place of strength,” says Mustain.

Instead, if you’ve been laid off and want to signal to the world that you’re looking for new opportunities, try framing the situation as a new beginning or a chance for growth and sharing concrete examples of your past contributions and successes. You can also share what you’ve learned and how your experiences have equipped you for future challenges. All of this “demonstrates adaptability and a forward-looking mindset to potential employers,” she says.

Remember, “you don’t need any job,” says Mustain. “You want a good job.”

Want to land your dream job in 2024? Take CNBC’s new online course How to Ace Your Job Interview to learn what hiring managers are really looking for, body language techniques, what to say and not to say, and the best way to talk about pay. CNBC Make It readers can save 25% with discount code 25OFF.

Don’t use these phrases in a job interview, they are ‘major red flags,’ says ex-Google recruiter

There are several tactics you can employ to impress a prospective employer during a job interview.

Tell your interviewer what excites you about the role, for example. This shows you’re a passionate person who is genuinely interested in the opportunity. Ask what problem you can solve for them on day one to start setting yourself up for success if you get hired. Nod and smile while the interviewer is speaking to show you’re confident and capable.

There are, of course, a few behaviors you’ll want to avoid, such as phrases that could turn your interviewer off. Some are “major red flags,” says Nolan Church, former recruiter at Google and CEO of salary data company FairComp.

Here’s what Church advises jobseekers to avoid saying.

‘I work too hard’ or ‘I’m a perfectionist’

To begin with, when an interviewer asks what you can improve on, don’t use phrases that make it sound like you think you have nothing to learn. These can be phrases like “I work too hard” or “I’m a perfectionist,” says Church. They’re framed as character flaws when, really, they’re compliments.

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When you do, the perception is that “you are full of s—,” he says. “You are inauthentic.” They could think you’re either not being honest about who you are as a person or you genuinely think you can’t get better as a worker.

Remember, “I’m not hiring you to be perfect,” he says. “I’m hiring you to grow with us.” Instead of these empty phrases, Church recommends giving an example of a mistake you made, what you learned from it and how you improved going forward.

‘Anything that transfers blame’ is a turn off

Don’t say anything negative about people you’ve worked with.

Whether it’s a former colleague, manager or company, “anything that transfers blame from you to someone else” sounds bad, says Church.

“The people you want to work with take full ownership and accountability” of what they’ve done in the past, he says, even if you messed up. Taking responsibility indicates you’re humble enough to admit you’re not perfect and that you’re willing to learn from your mistakes and get better.

“You want to work with people who have the self-awareness to know when they were wrong and to update their own mental models to fix it,” he says.

‘I don’t know’

Finally, avoid answering questions with “I don’t know.”

When he hears that, Church thinks, “okay, so, like, conversation’s over? You’re not going to solve these problems?” he says.

Especially as it pertains to young people just starting their careers, it’s possible you don’t have a lot experience or anecdotes to draw from and give concrete examples of what you’ve been able to accomplish. In those scenarios, “it’s okay to say, ‘I don’t know, but here’s how I’d figure it out,’” he says. Give some examples of how you’d tackle the problem hypothetically to show you’d be proactive in moving forward.

Ultimately, if you get the job, “we’re paying you to go solve this problem” they’re presenting, he says. Even in the interview, you’ll have to prove that you can do that.

Want to land your dream job in 2024? Take CNBC’s new online course How to Ace Your Job Interview to learn what hiring managers are really looking for, body language techniques, what to say and not to say, and the best way to talk about pay. CNBC Make It readers can save 25% with discount code 25OFF.