It’s June. Retailer nickname this season “Dads and Grads” based on all of the gifts that will be purchased for Fathers’ Day and graduation parties.

Will you be attending a graduation party? If so, how are you honoring your newly graduated loved ones?

As you buy some mortar board-shaped balloons, Class of 2011 streamers, and cakes with your loved one’s photo reproduced in butter cream frosting, consider this: your graduate, along with the entire Class of 2011, has given you, me, and all of us a tremendous gift - insight into today’s labor market.

They graduate and we receive the gift. Brilliant.

Is there ever a perfect time for you to ask for a salary increase – especially in this economy? No, probably not. "Perfect" timing depends on your specific work situation, when your answers to the following five questions all point in the direction that favors your case for an increase. Be sure to answer each question honestly:

How much money do you make each year?

Gasp. (crickets)

Did she really just ask me that?

In asking you this question I just violated the near-universal societal norm: Inquiring about another person’s salary is a strong social taboo. According to survey by glassdoor.com, 34% feel uncomfortable sharing compensation details with their spouse/partner, 67% would prefer to not have the conversation with their best friends, and 76% feel uncomfortable disclosing salary information to their financial advisor. The latter would make financial planning particularly difficult, don’t you think?

This guest blog post is by Andrew Neitlich the co-author of Guerrilla Marketing for a Bulletproof Career:

In today’s perpetually gut-wrenching economic times, no one is safe. The factors outside our control include: overnight economic shocks, technology disruptions, corporate scandals, emerging overseas competition, natural and man-made disasters, rapid changes in consumer preferences, government intervention, and – within a company – challenging bosses and co-workers. At any time, we could be ambushed and lose all or part of our income.

Some things are universally disliked, such as root canals, paying taxes, annual performance reviews. Root canals might be avoided if you brush, floss, and have generally good dental hygiene. Taxes and performance reviews are, unfortunately, inevitable for most.

I don’t know anyone (either employee or supervisor) who looks forward to the annual performance review meeting. Most people insert curse words as descriptive adjectives of the practice. The kindest sentiments are often neutral, uttered from those whose performance review meetings symbolize the perfunctory paperwork standing between them and their annual bonus and pay increase.

There are many myths about career-related issues that tend to manifest as misplaced concerns when folks are on the job market. On the Newark-to-Houston leg of a recent flight to Brazil, I was sitting next to someone who was flying to Texas to interview for a marketing job with a small firm. He was hoping to land the role but was worried about working for a small company.

We chatted. His underlying concern was how this small company will "look" on his résumé. This concern is a common one based on a myth that is fully perpetuated by those who are applying old rules to a new employment reality. The root of my Newark-to-Houston armrest-mate’s concern is that one’s past employers’ big names are clear indicators of professional worth.

I appreciate the many career-related questions that are sent to me via email at paula@paulacaligiuri.com. I cannot answer all of them, but I will do my best to write blog posts to address the themes.

One question that I routinely do not answer (OK, dodge) is the “overqualified” question.

I am of the mindset that worrying about being overqualified in this current job market is a bit like worrying that you are too wealthy to retire. In this employment reality, marketable, world-class skills rule. A real issue is whether "overqualified" is a code word for either "too expensive" or some form of age discrimination. Those are real.

Each case is different, very different. Let's consider the question from Jenny:

Dear Paula,

The first week of April is the week when many of those who have applied to college will receive their admission letters. How exciting! Do you remember receiving those letters in the mail?

The application part of the college experience hasn’t changed: getting good high school grades and SAT scores, acquiring letters of recommendation, preparing applications and essays, applying to safe schools, stretch schools, and the like. With the exception of the use of technology, this is identical to the experience generations before have had. In fact, the college experience, for the most part, hasn’t changed much (again, with the exception of new technology) – registration, course requirements, exams, parties, Spring Break, professors, and tuition bills.

Unless you signed a contract that limits your outside employment, work for an employer with an outside employment policy, or are, in fact, in a religious order that does require a real vow of poverty you may earn, in theory, as much money as you want.

This free agent mentality is forcing us to ask ourselves some ethical questions about dual or outside employment. Let's start with the most basic question: Would you feel disloyal to your employer if you earned income from a different source?