Do you know what movement of the yen/dollar rate has been in the last year? What is happening with the financial situation in Portugal? Who the CEOs of the Big 4 in Finance consulting are? Why would you work in an investment bank rather than in an insurance company? Would you invest in a 5 star restaurant in the center of Rome or in several smaller ones around Italy?
Getting invited to an interview in the finance and banking sectors is the easy part of finding a job. What follows is one of the toughest interviews you can imagine. These are some of the basic questions which might fail you if you are looking for a job in the finance and banking sectors:
• Why do you want to work in this sector? – The recruiter is looking for information on your predisposition and evidence that you would fit in this competitive and dynamic environment. To give a strong answer you would have to provide significant details of how you have demonstrated interest or competence. It is not enough to simply say you are a “hard-working, team-oriented responsible person”. You would need to give clear and specific examples within your answer which defines you as a person and as a professional suitable for the job.
• Who are our competitors and what makes our company different? – Any recruiter would be expecting that you have done your research and you have a clear knowledge both about the company and about your fit within the corporate culture. Make sure you are ready to compare at least with 1-2 competitors. Some key differences might come from their annual reports, values, mission statements, employee policies, sectors and markets, etc.
• What important developments do you see in the future in this industry? – The recruiter is inviting you to think and shine with knowledge and analytical skills. You would need to be familiar with the economic situation, recent legislation, new tendencies, etc.
On the other hand, some questions can get very specific. They tend to test your constant commitment and interests in the field. Some top finance and banking institutions are known for asking:
• Where did the DOW close yesterday? – It might happen that you do not know the exact number, but make sure you are within a range of trade within the last 3 days. If you know you are going to a finance/banking interview there is no excuse to miss on reading the financial press. If you really want to impress the interviewer, you should know where the S&P 500, NASDAQ, Russell 1000, FTSE, Nikkei, Hang Seng and Dax closed as well.
• Which is your favorite stock and why? – You cannot afford to be general and qualitative at your answer. Know your numbers and make sure you apply some fundamental financial / technical analysis. At least talk about the P/E ratio and where it stands relative to its peer group. It would also help if you think about price/growth, EBITDA/enterprise value, leverage ratios, etc.
• Describe a specific fundamental concept in the field – Recruiters can ask you about valuation, trading a security, executing a sell-side transaction, etc. It is vital that you present a response that demonstrates your firm understanding about the concept, its importance and its application. Make sure you discuss: 1. the definition; 2. the definition of the additional terms of the definition; 3. the application of the concept in a global context.
At large at some stage of the recruitment process, there will be a competency based interview and a behavioral interview. Make sure you are ready to demonstrate what skills, knowledge, motivation and personal characteristics make you effective at work and give specific and unique examples of how you have performed in the past. This is the only way you can stand out from the crowd. In the following articles we will talk about the most required competences.
miércoles, 4 de mayo de 2011
jueves, 7 de abril de 2011
For students and graduates: FAQ about internships in finance and banking
In the past few months, the expert recruitment team of Growinfinance.com has completed several specialized career seminars in top business schools and universities.
During these sessions, the experts were sharing their knowledge and experience with students on what steps they would need to take to secure a position at the best companies around the world. One key factor that triggered interest was the topic of internships and the need to have such experience to be competitive in a highly-demanding employment reality.
Considering the complicated economic situation and the increasing of the education level of the population in the western world, it is only natural that companies would be looking for better, more experienced and highly qualified candidates. Thus, students need to make sure that they can distinguish themselves from the crowd and enter into the employment world as early as possible, most commonly through doing internships. Any work experience is a plus on your CV and thus, we would advise that you take on as many as you can even while you are studying. This will allow you to explore your interests and capabilities while gathering knowledge and experience and creating and building your network of future business contacts. It is highly likely, that an internship opportunity is transformed into a job proposal if you perform well, but even if it does not it would certainly help with other companies as employers are looking for candidates with internship experience.
Here are some of the FAQ that students were interested in when we visited them:
How does an internship make me more competitive?
It simply does. Having an internship experience signifies two sets of things to the recruiter: 1. You have some sort of a working experience and you are familiar with a working environment, where you would have completed tasks and taken responsibilities as an employee would be expected to along with the fact that you have received some initial training in the field and you would be more capable of facing some issues alone rather than needing constant guidance; and 2. You have been motivated and proactive enough to seek and find an employment opportunity to which you had willingly devoted your free time and energy; and moreover, that it is a field that you are truly interested in as you already have basic knowledge as to what the day to day tasks would be.
Paid of unpaid internships?
Whether or not your internship will be paid is entirely dependent on the corporate policy within the organization. Many big finance and banking institutions provide some sort of compensation, others provide additional training and other non-monetary bonuses, while there are also many which do not offer any sort of remuneration. Whichever the case is you need to be aware about the financial side of the job and make sure you would be able to afford to spend the time and effort required. If you absolutely need the money you might want to consider doing a part-time internship and part time job simultaneously or get an internship during the academic year. Nevertheless, do not miss an opportunity because it will be unpaid for the first 3-9 months (the typical duration of an internship). Rather look at it as an investment into your future success and career and try to take the best out of it. As we said more often than not, internships do convert into a job proposition.
Should I look for a big or for a small company?
We would certainly advise to do several internships during your college years and to try to make the best variety combination. In that sense, this would also include getting experience both from a small and from a big corporation. While the big corporation has its name and prestige going for it, in a small company you are much more likely to see different sides of the business, participate in a wide variety of problem solving situation and in many cases have a decision making power within the organization much faster. Bigger companies on the other hand, will help you understand the specifics of the job you are interested in as well as help with getting you to understand corporate structure, internal policies, responsibilities and team dynamics.
Where should I start to look?
You could either look for the internship by yourself using your personal resources, network and creativity or get some external help to land on your dream internship. There are numerous internships offered all around your community and all you would need to do is get organized and look for them. On the other hand, selection processes, especially in big organizations, might be tedious and complicated which is why a recruitment professional might be indispensable to finding you an internship.
During these sessions, the experts were sharing their knowledge and experience with students on what steps they would need to take to secure a position at the best companies around the world. One key factor that triggered interest was the topic of internships and the need to have such experience to be competitive in a highly-demanding employment reality.
Considering the complicated economic situation and the increasing of the education level of the population in the western world, it is only natural that companies would be looking for better, more experienced and highly qualified candidates. Thus, students need to make sure that they can distinguish themselves from the crowd and enter into the employment world as early as possible, most commonly through doing internships. Any work experience is a plus on your CV and thus, we would advise that you take on as many as you can even while you are studying. This will allow you to explore your interests and capabilities while gathering knowledge and experience and creating and building your network of future business contacts. It is highly likely, that an internship opportunity is transformed into a job proposal if you perform well, but even if it does not it would certainly help with other companies as employers are looking for candidates with internship experience.
Here are some of the FAQ that students were interested in when we visited them:
How does an internship make me more competitive?
It simply does. Having an internship experience signifies two sets of things to the recruiter: 1. You have some sort of a working experience and you are familiar with a working environment, where you would have completed tasks and taken responsibilities as an employee would be expected to along with the fact that you have received some initial training in the field and you would be more capable of facing some issues alone rather than needing constant guidance; and 2. You have been motivated and proactive enough to seek and find an employment opportunity to which you had willingly devoted your free time and energy; and moreover, that it is a field that you are truly interested in as you already have basic knowledge as to what the day to day tasks would be.
Paid of unpaid internships?
Whether or not your internship will be paid is entirely dependent on the corporate policy within the organization. Many big finance and banking institutions provide some sort of compensation, others provide additional training and other non-monetary bonuses, while there are also many which do not offer any sort of remuneration. Whichever the case is you need to be aware about the financial side of the job and make sure you would be able to afford to spend the time and effort required. If you absolutely need the money you might want to consider doing a part-time internship and part time job simultaneously or get an internship during the academic year. Nevertheless, do not miss an opportunity because it will be unpaid for the first 3-9 months (the typical duration of an internship). Rather look at it as an investment into your future success and career and try to take the best out of it. As we said more often than not, internships do convert into a job proposition.
Should I look for a big or for a small company?
We would certainly advise to do several internships during your college years and to try to make the best variety combination. In that sense, this would also include getting experience both from a small and from a big corporation. While the big corporation has its name and prestige going for it, in a small company you are much more likely to see different sides of the business, participate in a wide variety of problem solving situation and in many cases have a decision making power within the organization much faster. Bigger companies on the other hand, will help you understand the specifics of the job you are interested in as well as help with getting you to understand corporate structure, internal policies, responsibilities and team dynamics.
Where should I start to look?
You could either look for the internship by yourself using your personal resources, network and creativity or get some external help to land on your dream internship. There are numerous internships offered all around your community and all you would need to do is get organized and look for them. On the other hand, selection processes, especially in big organizations, might be tedious and complicated which is why a recruitment professional might be indispensable to finding you an internship.
viernes, 1 de abril de 2011
How to get hired in a hedge fund
Although demand is high, requirements remain challenging and candidates – numerous.
In our last article at Growinfinance.com, Hiring in the Hedge Fund industry, we discussed the increased search of young and experienced professionals in the sector. Although demand is high, requirements remain challenging and candidates – numerous. The selection process is tough, tough, tough. Thus, to ensure an interview for a job in a hedge fund, you would have to present a unique, professional and sector tailored resume. By no means do we insist that this is the ultimate and all-inclusive answer. Nevertheless, there are certain effective techniques which might help your CV stay longer in the hands of the recruiter.
First and foremost, make sure you are aware of what Hedge funds are and the level of stress, commitment and workload associated with them. You need to show self-discipline, networking stamina, knowledge of the industry, passion and, ultimately, be persistent and with constant actions. Make sure you know the industry and make it a habit to read and study the leaders of the day, the deals that succeeded, the ones that failed, who the influencers are and what different companies are doing. Get into networking and identify people you would like to learn from. It takes time and commitment to develop a relationship but, as getting hired in the industry usually involves some sort of “unofficial channels” you would want to put yourself in the right spot with decision-makers. You need to know what you want – there are a wide variety of positions.
Following the standard CV structure, we have written about in our CV Writing Tips, you should focus on your career experience section where you would give details about tasks, responsibilities and achievements.
1. Keep in mind the short time that a recruiter would spend scanning your CV. Make sure that you are clear and concise in describing your responsibilities.
2. Show competitiveness throughout your description. Hedge funds are an intensively competitive environment, and managers in such institutions are known to look for people with a taste for competition. Demonstrate that you ranked first of many throughout your resume.
3. Make sure you quantify your achievements. Hedge fund managers would be looking at the numbers as they are what matters to the bottom line and they are easier to read. Show how your involvement in a project has generated positive change at your last employer and how your achievements compare to similar changes in other departments or institutions.
4. Following this comes what would be considered the most important part of your hedge fund tailored CV. After your Experience section, start a section for a list of recent impressive and successful investments/situations that you have been involved in. This section would give the HR an insight on your interest, motivation and analytical skills to make the best of it. Stress on the research you did, the actions you proposed and the results you achieved. This statement would be particularly powerful if the position you are applying for is in the same field as you would already poses valuable knowledge.
5. The Education section is also key. Take advantage of it to also demonstrate your high ranking among classmates. Include impressive comparison on GPAs, class/major standing, SAT results, etc. Include extracurricular activities, to demonstrate that you are a team player, a good communicator and competitive in nature.
In essence getting job in a hedge fund is unique but in one sense the same as searching for a job anywhere. You would need to research the company and prove that you belong there. Demonstrate knowledge, achievements and personal traits that will leave no place in the recruiters’ mind that it is you they have been looking for all along.
In our last article at Growinfinance.com, Hiring in the Hedge Fund industry, we discussed the increased search of young and experienced professionals in the sector. Although demand is high, requirements remain challenging and candidates – numerous. The selection process is tough, tough, tough. Thus, to ensure an interview for a job in a hedge fund, you would have to present a unique, professional and sector tailored resume. By no means do we insist that this is the ultimate and all-inclusive answer. Nevertheless, there are certain effective techniques which might help your CV stay longer in the hands of the recruiter.
First and foremost, make sure you are aware of what Hedge funds are and the level of stress, commitment and workload associated with them. You need to show self-discipline, networking stamina, knowledge of the industry, passion and, ultimately, be persistent and with constant actions. Make sure you know the industry and make it a habit to read and study the leaders of the day, the deals that succeeded, the ones that failed, who the influencers are and what different companies are doing. Get into networking and identify people you would like to learn from. It takes time and commitment to develop a relationship but, as getting hired in the industry usually involves some sort of “unofficial channels” you would want to put yourself in the right spot with decision-makers. You need to know what you want – there are a wide variety of positions.
Following the standard CV structure, we have written about in our CV Writing Tips, you should focus on your career experience section where you would give details about tasks, responsibilities and achievements.
1. Keep in mind the short time that a recruiter would spend scanning your CV. Make sure that you are clear and concise in describing your responsibilities.
2. Show competitiveness throughout your description. Hedge funds are an intensively competitive environment, and managers in such institutions are known to look for people with a taste for competition. Demonstrate that you ranked first of many throughout your resume.
3. Make sure you quantify your achievements. Hedge fund managers would be looking at the numbers as they are what matters to the bottom line and they are easier to read. Show how your involvement in a project has generated positive change at your last employer and how your achievements compare to similar changes in other departments or institutions.
4. Following this comes what would be considered the most important part of your hedge fund tailored CV. After your Experience section, start a section for a list of recent impressive and successful investments/situations that you have been involved in. This section would give the HR an insight on your interest, motivation and analytical skills to make the best of it. Stress on the research you did, the actions you proposed and the results you achieved. This statement would be particularly powerful if the position you are applying for is in the same field as you would already poses valuable knowledge.
5. The Education section is also key. Take advantage of it to also demonstrate your high ranking among classmates. Include impressive comparison on GPAs, class/major standing, SAT results, etc. Include extracurricular activities, to demonstrate that you are a team player, a good communicator and competitive in nature.
In essence getting job in a hedge fund is unique but in one sense the same as searching for a job anywhere. You would need to research the company and prove that you belong there. Demonstrate knowledge, achievements and personal traits that will leave no place in the recruiters’ mind that it is you they have been looking for all along.
martes, 22 de marzo de 2011
Hiring in the Hedge Fund industry
Hedge funds are hot this year. Well over half of the surveyed hedge funds studied by Barclays Capital are looking to hire.
Further, the sector’s assets increased an estimated 2.53% to $2.473 trillion in December 2010, according to the same study while 63% of hedge funds reporting through December hit new historical highs during 2010, according to HFN Industry Report. This makes hedge funds look really tempting for both recent graduates and established professionals.
As a key sector in the upcoming months, qualifications requirements are rising, too. In the back-office people with knowledge of the legislative system and the recent changes in regulatory disclosure are a must along with deep understanding of tax and compliance. Further requirements would depend on the particular position that the candidates are applying for. For example, investment professionals with a background in equities are in increasing demand.
What are the important job offerings? Hedge funds seem to be looking for these positions – investor relations, operations, compliance, administration, traders, accounting, and risk managers, along with analysts with emerging market expertise and specialists in macro and event-driven funds. Not only would strictly finance positions be sought after. Due to the launch of new projects, marketing and PR specialists would be needed to launch upcoming projects.
Getting a job in the hedge fund sector is in essence difficult as managers would rather promote internally. Thus, job seekers would have to stay alert, be sharp and bring unexpected and desired qualities to the table, along with the traditional ones. Nevertheless, it is the time to build new products, experienced recruiters say making candidates with new demanded skills ever so valuable. HR professionals state that the principal driver for hiring in the hedge fund sector is the assets, predicting that for every $ 1 billion in new assets managers would on average need 15 employees (depending on the strategy).
Emerging markets will continue to attract new business as Growinfinance.com suggested in our latest articles. Predictions are that more than 45% of new launches will be focused there.
Big and small hedge funds have been looking to hire or are planning a recruitment process in the coming months. Among them are SAC Capital, in search for tax analysis and quantitative statistical research analysts. Bridgewater Associates look to hire research analysts, trading and portfolio management professionals and back-office IT. UK based Polar Capital is planning to hire various teams to drive assets-under-management-growth.
Further, the sector’s assets increased an estimated 2.53% to $2.473 trillion in December 2010, according to the same study while 63% of hedge funds reporting through December hit new historical highs during 2010, according to HFN Industry Report. This makes hedge funds look really tempting for both recent graduates and established professionals.
As a key sector in the upcoming months, qualifications requirements are rising, too. In the back-office people with knowledge of the legislative system and the recent changes in regulatory disclosure are a must along with deep understanding of tax and compliance. Further requirements would depend on the particular position that the candidates are applying for. For example, investment professionals with a background in equities are in increasing demand.
What are the important job offerings? Hedge funds seem to be looking for these positions – investor relations, operations, compliance, administration, traders, accounting, and risk managers, along with analysts with emerging market expertise and specialists in macro and event-driven funds. Not only would strictly finance positions be sought after. Due to the launch of new projects, marketing and PR specialists would be needed to launch upcoming projects.
Getting a job in the hedge fund sector is in essence difficult as managers would rather promote internally. Thus, job seekers would have to stay alert, be sharp and bring unexpected and desired qualities to the table, along with the traditional ones. Nevertheless, it is the time to build new products, experienced recruiters say making candidates with new demanded skills ever so valuable. HR professionals state that the principal driver for hiring in the hedge fund sector is the assets, predicting that for every $ 1 billion in new assets managers would on average need 15 employees (depending on the strategy).
Emerging markets will continue to attract new business as Growinfinance.com suggested in our latest articles. Predictions are that more than 45% of new launches will be focused there.
Big and small hedge funds have been looking to hire or are planning a recruitment process in the coming months. Among them are SAC Capital, in search for tax analysis and quantitative statistical research analysts. Bridgewater Associates look to hire research analysts, trading and portfolio management professionals and back-office IT. UK based Polar Capital is planning to hire various teams to drive assets-under-management-growth.
How to Follow Up on Your Job Application
We talked about how to do a qualified job search in the previous article. Now what’s next?
1. Check the status of your CV
First of all, if you have applied through a job board like Growinfinance, check the status of your CV from your account. If the CV status is declined, it means that the company is not moving forward with your application; if the status is in process, then they are evaluating your candidature; if the status is finalist you have been chosen as one of the top candidates for the job; and if it’s pending to review, you may want to follow up your application.
2. Double check that the job you applied for matches your profile
If you applied for a job that does not matches your profile, for example you don’t have the required work permit, then you may not need to follow up your application and you probably should not expect any feedback from the company.
Yet, the common case is that you applied for a job that matches your profile and expectations, and the CV you submitted suits the job requirements. Even then, however, sometimes you do not hear from the company in the short period of time that you had hoped for. This is when you need to follow up on the progress of your CV in a non intrusive and pleasant manner.
3. How long should I wait to follow up my application?
If you are waiting more than a week or two to receive a response, it is time to initiate another contact with the company – be it on the phone or by email. During this contact you can get yourself informed about both the status of your application as well as the implemented selection procedure, so that you are aware of what to expect in the future.
4. How should I approach the company?
There is a very thin line between follow-up and frustration for the recruiter. HR specialists need to work on many applications on a daily basis. Thus, in every contact you establish with the company try to bring new information on the table. Otherwise, you risk to sounding desperate.
Try to get the name of someone within the selection process. If you are contacting the company after you had already had the chance to speak with someone working there, be sure to address your letter or call to a specific person rather than the general “Dear Sirs”. If you do not know or remember the name of the contact person, go online. Check your professional network and the contacts of your contacts. Ask your contacts to introduce you to the person you are interested it by stating very clearly your objective. It is important that the “insider” knows exactly why he or she is being contacted which also assures you that they will be more helpful.
5. Calling the company
The follow-up stage is a great moment to once again to express your interest and to highlight your qualifications in the field. You should mention which position you applied to, why you would want to work in the company, why should your application be considered and what would you bring to the corporation.
Take this opportunity to share a bit of news about the company, the industry, or the sector that their desired organization is working in. Further, you might mention some of the latest developments on your side – if you had started a new project, if you had signed up for an additional language course, if you have completed further qualifications, etc. This, again, should not be overdone because if so the candidate is risking being considered desperate which never won anyone a position.
6. Sending a follow up letter
Your follow up letter could be as follows:
Dear (Name),
I submitted my resume (specify date) for the position advertised on (specify source). I have not heard from your company and would like to confirm receipt of my application, as well as reiterate my interest in the job.
My strong background in ______, ______ and ______ appears to be an excellent match to the qualifications you are seeking, and I am very interested in your opportunity and in working for your company.
I am more than happy to answer any preliminary questions you may have, and I can be reached at (telephone number) or by email (email address).
Thank you for your time and kind consideration.
Sincerely,
(Your name and surname)
7. “I tried it but still didn’t get any feedback…”
Sometimes you just do not hear from the company, regardless of all your well-intended efforts. In such a case, just move on and leave it for sometime. Continue with your job search and invest your time to look for other opportunities. Do not get stuck with a company, there are many opportunities out there and you just need to look for them.
First company contact
How to prepare for your first interview – Part I
What to expect during the different types of interviews you could encounter – Part II
1. Check the status of your CV
First of all, if you have applied through a job board like Growinfinance, check the status of your CV from your account. If the CV status is declined, it means that the company is not moving forward with your application; if the status is in process, then they are evaluating your candidature; if the status is finalist you have been chosen as one of the top candidates for the job; and if it’s pending to review, you may want to follow up your application.
2. Double check that the job you applied for matches your profile
If you applied for a job that does not matches your profile, for example you don’t have the required work permit, then you may not need to follow up your application and you probably should not expect any feedback from the company.
Yet, the common case is that you applied for a job that matches your profile and expectations, and the CV you submitted suits the job requirements. Even then, however, sometimes you do not hear from the company in the short period of time that you had hoped for. This is when you need to follow up on the progress of your CV in a non intrusive and pleasant manner.
3. How long should I wait to follow up my application?
If you are waiting more than a week or two to receive a response, it is time to initiate another contact with the company – be it on the phone or by email. During this contact you can get yourself informed about both the status of your application as well as the implemented selection procedure, so that you are aware of what to expect in the future.
4. How should I approach the company?
There is a very thin line between follow-up and frustration for the recruiter. HR specialists need to work on many applications on a daily basis. Thus, in every contact you establish with the company try to bring new information on the table. Otherwise, you risk to sounding desperate.
Try to get the name of someone within the selection process. If you are contacting the company after you had already had the chance to speak with someone working there, be sure to address your letter or call to a specific person rather than the general “Dear Sirs”. If you do not know or remember the name of the contact person, go online. Check your professional network and the contacts of your contacts. Ask your contacts to introduce you to the person you are interested it by stating very clearly your objective. It is important that the “insider” knows exactly why he or she is being contacted which also assures you that they will be more helpful.
5. Calling the company
The follow-up stage is a great moment to once again to express your interest and to highlight your qualifications in the field. You should mention which position you applied to, why you would want to work in the company, why should your application be considered and what would you bring to the corporation.
Take this opportunity to share a bit of news about the company, the industry, or the sector that their desired organization is working in. Further, you might mention some of the latest developments on your side – if you had started a new project, if you had signed up for an additional language course, if you have completed further qualifications, etc. This, again, should not be overdone because if so the candidate is risking being considered desperate which never won anyone a position.
6. Sending a follow up letter
Your follow up letter could be as follows:
Dear (Name),
I submitted my resume (specify date) for the position advertised on (specify source). I have not heard from your company and would like to confirm receipt of my application, as well as reiterate my interest in the job.
My strong background in ______, ______ and ______ appears to be an excellent match to the qualifications you are seeking, and I am very interested in your opportunity and in working for your company.
I am more than happy to answer any preliminary questions you may have, and I can be reached at (telephone number) or by email (email address).
Thank you for your time and kind consideration.
Sincerely,
(Your name and surname)
7. “I tried it but still didn’t get any feedback…”
Sometimes you just do not hear from the company, regardless of all your well-intended efforts. In such a case, just move on and leave it for sometime. Continue with your job search and invest your time to look for other opportunities. Do not get stuck with a company, there are many opportunities out there and you just need to look for them.
First company contact
How to prepare for your first interview – Part I
What to expect during the different types of interviews you could encounter – Part II
domingo, 20 de marzo de 2011
How to do a qualified job search
What is the most important thing to consider when you are looking for a job? Your target must be very clear.
What do people who have succeeded in their professional career have in common? They always have had their career goals very clear.
Before you start submitting your CV through job boards or directly sending it to companies, you should think well about the kind of positions you are interested in and would also fit your profile:
• You can start by writing down your career objectives: where are you at this moment and what position you want to reach in the long term.
• Make a list of the jobs that you think match your profile and define how you would add value to the corresponding department and the company.
• Divide this list in jobs that match your expectations and you are interested in, and jobs that you would no longer consider.
Be honest with yourself and realistic, otherwise this will not have any value. If you still have doubts, ask your colleagues and other people, who know you professionally, for their opinion. The more information you have the better the analysis and the result.
Once you have a clear set of career goals:
Ensure that you have created a professional and strong CV for each application (you can read our other articles about CV writing tips for guidance).
Follow the application procedures. There are some differences between job sites. Invest time to research the best way to apply for each site and company: if only a CV is needed; or CV plus cover letter; or video, etc.
Use the wide range of search options that job boards search provide to find the positions that suit you best. Invest time to study the websites work, which will help you optimize your search result.
There are differences when applying directly to the hiring company, to a recruiter or when you post your CV on a job board. The key is again to know the procedures you need to follow. They are usually explained on the job advert; if they are not, follow the widely accepted standards (use the CV that matches best the job description; and use a cover letter when it is possible).
Sit down and read carefully the job advert of interest. Analyze it and study well the function of this position and the key requirements. Your CV does not need to perfectly cover everything on the job advert but make sure that the key requirements are met. In your CV, prioritize your experience, or qualifications which add value to your application before you send it.
Do not apply to jobs indiscriminately. Although it might sounds obvious, many people do so as they think that the more applications they send the more responses they will get. In finance and banking it is not about the quantity, but about quality.
Do not be lazy and use the same CV and cover letter for each application. You are going to spend probably a minimum of 8 working hours at your job; shouldn’t you invest a good amount of time searching for the right opportunity?
Finally, be patient with your applications. It may take time for HR and recruiters to read and evaluate all the applications they received. It is not necessary to spam them on a daily basis to remind them of your application. Still a follow-up email or call is enough to confirm that your application is in process, if you do not hear back from them.
What do people who have succeeded in their professional career have in common? They always have had their career goals very clear.
Before you start submitting your CV through job boards or directly sending it to companies, you should think well about the kind of positions you are interested in and would also fit your profile:
• You can start by writing down your career objectives: where are you at this moment and what position you want to reach in the long term.
• Make a list of the jobs that you think match your profile and define how you would add value to the corresponding department and the company.
• Divide this list in jobs that match your expectations and you are interested in, and jobs that you would no longer consider.
Be honest with yourself and realistic, otherwise this will not have any value. If you still have doubts, ask your colleagues and other people, who know you professionally, for their opinion. The more information you have the better the analysis and the result.
Once you have a clear set of career goals:
Ensure that you have created a professional and strong CV for each application (you can read our other articles about CV writing tips for guidance).
Follow the application procedures. There are some differences between job sites. Invest time to research the best way to apply for each site and company: if only a CV is needed; or CV plus cover letter; or video, etc.
Use the wide range of search options that job boards search provide to find the positions that suit you best. Invest time to study the websites work, which will help you optimize your search result.
There are differences when applying directly to the hiring company, to a recruiter or when you post your CV on a job board. The key is again to know the procedures you need to follow. They are usually explained on the job advert; if they are not, follow the widely accepted standards (use the CV that matches best the job description; and use a cover letter when it is possible).
Sit down and read carefully the job advert of interest. Analyze it and study well the function of this position and the key requirements. Your CV does not need to perfectly cover everything on the job advert but make sure that the key requirements are met. In your CV, prioritize your experience, or qualifications which add value to your application before you send it.
Do not apply to jobs indiscriminately. Although it might sounds obvious, many people do so as they think that the more applications they send the more responses they will get. In finance and banking it is not about the quantity, but about quality.
Do not be lazy and use the same CV and cover letter for each application. You are going to spend probably a minimum of 8 working hours at your job; shouldn’t you invest a good amount of time searching for the right opportunity?
Finally, be patient with your applications. It may take time for HR and recruiters to read and evaluate all the applications they received. It is not necessary to spam them on a daily basis to remind them of your application. Still a follow-up email or call is enough to confirm that your application is in process, if you do not hear back from them.
jueves, 17 de marzo de 2011
Finance & Banking expansion in Asia - What are the recruitment predictions for the Asiatic market?
GrowInFinance would like to express their sincere condolences to the families affected by the tragic events in Japan. We hope that the country of the rising sun will recover. Yet, it is too early for conclusions on recruitment and we will monitor the trends as time advances.
We have interesting information for other Asian countries like China, Hong Kong and Singapore for the moment. The financing and banking sectors in these countries have been recently identified as one of the three fields which will have the highest demand in skilled professionals in 2011, especially in the private banking, wealth management, financial planning and management trainee roles. 75% of recruiters in the field predict an increased hiring activity in the following months. Most sought after are second-jobber positions as well as middle and senior staff with local experience. Other hot jobs are those in the fields of equity sales, private banking and prime brokerage where knowledge of the Chinese regulatory framework is highly valued.
Recruiters are particularly keen in attracting IT professionals with skills in Java who can implement technological changes and upgrades to provide the end customers with better service and increased efficiency. Banks from Singapore are looking into the Australian labour market to recruit, while Honk Kong professionals are finding it increasingly difficult to get good results using standard recruitment procedures.
Operational risk senior candidate search is also on the rise to be able to confront high profile operational problems, such as IT outage and develop and conduct contingency plans and internal changes. As this occupation is relatively recent in Asia, there is a definite shortage of talent causing recruiters to search among candidates with internal audit and traditional risk backgrounds, some recruiters say.
2010 has also brought to light the senior business finance partners search in Singapore and the trends is expected to evolve while recruiters are trying to attract experienced professionals from all around the world.
A large number of banks are looking to increase their headcounts in the relationship management and private banking sector. The main reasons for that are the increase of the wealth in Asia in general and the second is the expectations of flow of funds from other areas in the world towards the continent.
As the financial climate is changing, change management specialists in the finance sector are also in high demand. Their primary need of change is a response to the need of reducing the number of systems required in conducting business. Due to the intensive hiring, a lack of talent has been reported in Asia, particularly at senior levels. Professionals, such as senior product or financial controllers, with experience in project or change management are highly sought after.
With the increasing digitalization of the banking functionality, recruitment of e-commerce project managers who can supervise innovative projects is expected to rise greatly in 2011.
Further, due to recent market developments, banks in Hong Kong are expected to increase their M&A departments by a wowing 10% – 20% where candidates with both Chinese and international expertise will be in demand, yet speaking the local language seems to gain increasing importance.
We have interesting information for other Asian countries like China, Hong Kong and Singapore for the moment. The financing and banking sectors in these countries have been recently identified as one of the three fields which will have the highest demand in skilled professionals in 2011, especially in the private banking, wealth management, financial planning and management trainee roles. 75% of recruiters in the field predict an increased hiring activity in the following months. Most sought after are second-jobber positions as well as middle and senior staff with local experience. Other hot jobs are those in the fields of equity sales, private banking and prime brokerage where knowledge of the Chinese regulatory framework is highly valued.
Recruiters are particularly keen in attracting IT professionals with skills in Java who can implement technological changes and upgrades to provide the end customers with better service and increased efficiency. Banks from Singapore are looking into the Australian labour market to recruit, while Honk Kong professionals are finding it increasingly difficult to get good results using standard recruitment procedures.
Operational risk senior candidate search is also on the rise to be able to confront high profile operational problems, such as IT outage and develop and conduct contingency plans and internal changes. As this occupation is relatively recent in Asia, there is a definite shortage of talent causing recruiters to search among candidates with internal audit and traditional risk backgrounds, some recruiters say.
2010 has also brought to light the senior business finance partners search in Singapore and the trends is expected to evolve while recruiters are trying to attract experienced professionals from all around the world.
A large number of banks are looking to increase their headcounts in the relationship management and private banking sector. The main reasons for that are the increase of the wealth in Asia in general and the second is the expectations of flow of funds from other areas in the world towards the continent.
As the financial climate is changing, change management specialists in the finance sector are also in high demand. Their primary need of change is a response to the need of reducing the number of systems required in conducting business. Due to the intensive hiring, a lack of talent has been reported in Asia, particularly at senior levels. Professionals, such as senior product or financial controllers, with experience in project or change management are highly sought after.
With the increasing digitalization of the banking functionality, recruitment of e-commerce project managers who can supervise innovative projects is expected to rise greatly in 2011.
Further, due to recent market developments, banks in Hong Kong are expected to increase their M&A departments by a wowing 10% – 20% where candidates with both Chinese and international expertise will be in demand, yet speaking the local language seems to gain increasing importance.
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