Management Consultants CV reviewing process
This week’s blog talks about how Management Consultants review resumes of the applicants. It explains who is behind the resume review process, how the process proceeds and how you’re CV can avoid denial.
Let us first understand that the Management Consultants resume screening process is like a mystery for applicants as you will only know if you have been accepted or rejected. In the rarest cases there may be a generic feedback on why you did not get the job, but the advice will never be detailed and pertinent.
Who is behind Reviewing the Resume?
For a management consultation job post, a team of analysts, associates and managers are present for reviewing the resume. The review team will consist of at-least 3 to 5 people who will first go through your resume individually and then again in groups. It is important to note that most of this team might be graduates of your school itself (undergraduate, graduate or MBA). The final decision of whether to call you for the interview is taken by this review committee. The resume review process is mainly handled by the junior’s in the company but the interview process and offering the job is in the hands of the seniors.
The CV Reviewing
Each member of the team receives a bundle of resumes, which can vary from 30 to 300. Many a time’s covering letters could be excluded from this pack, thus it is important to focus your energies and frame your CV in a way that it falls in the top-notch category. Remember that Consultants spend one whole minute reading your resume which is double the time of that spent by bankers on a finance resume (30 seconds). Still one minute is really fast, placing premium on attention-grabbing bullets; concise, results-oriented experiences; clean formatting and styling. Once the individual reviewing process is done it is followed by reviewing each resume as a group, comparing notes and sharing insights. It is here that the decision of Selected or Rejected is made.
How to beat the Rejection?
If your CV is successful in demonstrating good academic grades along with significant work experience in the field and is highlighting your strong leadership skills and hard-working abilities through some of the tasks undertaken in the past, then the job could be in your favour. Overall, what the review team generally looks for is how good you can fit into the management consulting job and whether u can prove to be successful in your ventures. However there is no specific benchmark or cut-off as the selection process could vary from company to company.
Tips to build a good Consulting Resume.
In general your CV should include:
- A top section with your personal details.
- A section explaining your educational background, interest, skills and activities so that it best suits your job profile.
- Your relevant work experience information along with the details of the position, location, time period.
- Focus on 1 or 2 impressive achievements.
- Use of bullets rather than paragraphs.
- Try converting it into PDF format to avoid any formatting errors.
Finally, keep your resume and covering letter preferably one page long.
To read more on Management consultants please check:
http://interviewbay.com/blog/an-insight-into-the-world-of-a-strategy-consultant-part-i
If your CV is good enough to beat the competition and the resume review process, then the next step for you is awaiting a call for the interview.
Posted in Consulting | Tagged Management Consultant, Resume reviewing | Comments Off
Exploring Marketing Career Opportunities
Marketing is often linked to terms like creativity, enjoyable, fun, exciting, innovation etc. But marketing in reality is much more than just this. Playing the intermediary role between product development and sales, it comprises of many different facets and branches out into many career options. It encompasses opportunities like Advertising, Brand Management, Market Research, Public Relations, Media Planning and many more.
So, if you’re looking to take a leap into marketing, it is important that you explore each of the following options carefully in order to decide which one suits you best:
1. Careers in Advertising
Advertising covers all the aspects of marketing from strategy creation to concept development to the execution of the strategy. Advertising jobs can be divided into various departments like Account, Strategy, Media, Creative, Interactive, Production and Administrative. The business side of advertising agency includes Account Management, Account Planning, and Media Buying while the creative side is mainly responsible for generation of ideas to represent a proposition.
Some of the typical roles one can find in an advertising agency would be:
1. 1 Advertising Manager
The Advertising Manager builds and implements the company’s advertising strategy from the business, sales and technical perspective. All the discussions with the sponsors and agencies are initiated and managed by the Advertising Manager. He negotiates agreements with outside sales representatives and manages the development of sales materials, including media kits. Advertising Managers earn between $59,725 and $87,010 annually. Requirements for this position would be a Bachelors degree and 2 to 4 years of field experience.
1.2 Advertising Sales Director
Just like the Advertising Manager, the Advertising Sales Director also develops, implements, and manages the company’s advertising strategy, from a business, sales and technical perspective; negotiates agreements with outside sales representatives; and manages the development of sales materials, including media kits. He however also plans budgets and projections for advertising. Advertising Sales Director earns between $96,876 and $156,266 annually. Requirements for this position would be a Bachelors degree and 5 years of field experience.
1.3 Account Executive
The Account Executive is responsible for maintaining favourable and good relationships with current and potential advertising accounts (clients). He is also in-charge of developing relationships in order to acquire new accounts. Account Executives earn between $50,929 and $67,912 annually. Requirements to apply for this post would be a Bachelors degree and 3 years of field experience.
1.4 Account Co-ordinator
The Account Co-ordinator is responsible for organising advertising for print media. He co-ordinates scheduling and promotions to ensure client satisfaction and project completion. Assisting Account Executives in maintaining and nurturing client relationships is part of the job. Account Coordinator earns between $36,579 and $52,091 annually. Requirements to apply for this post would be a Bachelors degree with preferred 1 year of field experience.
1.5 Media Buyer
A Media Buyer deals with purchasing media space or time, as well as developing the campaign and researching how it will be most effective for the client. The job is to choose a combination of media which is able to communicate the client’s message in the most effective manner possible at the minimum cost.
1.6 Copywriter
A copywriter is responsible for writing the copy for advertisements, TV commercials or print ads. Copy is nothing but words used to promote the product or service. From taglines to brochures to press releases to a leaflet or a newsletter all of it is written by the copywriter. It is one of the most creative and challenging jobs. Requirements to apply for this post would be a Bachelors degree with preferably a portfolio of the past work done.
2. Careers in Brand Management
Brand Management involves creating, managing and enhacing brands. It is the art of creating and sustaining a brand in way that it creates differentiation in the customer’s minds resulting into brand loyalty. The typical function of a brand manager would be to focus on the big picture, take responsibility for a brand or brand family, map out their competitors in their brand’s category, identify marketing opportunities, and be able to effectively communicate the unique benefits of that product or service.
Some of the typical roles one can find in Brand Management would be:
2.1 Brand Manager
The planning and directing of marketing efforts for a brand is carried out by the Brand Manager. He is also responsible for coordinating activities of specialists in production, sales, advertising, promotion, research and development, marketing research, purchasing, distribution, package development, and finance. Brand Managers earn between $65,597 and $87,169 annually. Requirements to apply for this post would be a Bachelors degree and 4 years of field experience.
2.2 Product Manager
The Product Managers profile is same as the Brand Manager.
2.3 Product Development Manager
A Product Development Manager is a development and planning specialist. Their job is to develop marketing opportunities for consumer products, consumer services, hospital and medical services, and public service programs. A Product Development Manager needs the skills and understanding in marketing research, sales forecasting, and promotional planning. Product Development Manager earns between $62,085 and $80,956 annually. Requirements to apply for this post would be a Bachelors degree with at least 5 years of field experience.
3. Careers in Public Relations
The PR department is considered as the spokesperson of the company. Hence it is responsible for managing the communication with the media, consumers, employees, investors, and the general public. Writing press releases to promote products or to keep investors informed about business partnerships, financial results, or other company news is part of the job.
Some of the typical roles one can find in Public Relations would be:
3.1 PR Specialist
Any information about an organization is provided by the Public Relations Specialist through the media. He handles all PR activities within communication departments of large organizations. He is in-charge of writing press releases, speeches, planning special events, representing their company at press conferences and trade shows, tracking trends, and looking for opportunities to receive media coverage. A PR Specialist earns between $31,764 and $39,886. Requirements to apply for this job are a basic a bachelor’s degree with 0-2 years of field experience.
3.2 PR Director
A company’s overall strategic public relation programs (Community relations, internal communications, media and investor relations) are developed and implemented by the public relations director. Other responsibilities include planning and budget management. A PR Director earns between $92,668 and $125,235. Requirements to apply for this job are a basic a bachelor’s degree with 7 years of field experience.
3.3 Corporate Communications Manager
The task of a Corporate Communications Manager is to create and manage communications programs which describe as well as promote an organization and its products. Speeches/presentations aimed towards employees and consumers are made with his assistance. Corporate Communications Manager earns between $62,023 and $85,276. Requirements to apply for this job are a basic a bachelor’s degree with 7 years of field experience.
3.4 Book Publicist
Book Publicist works on behalf of authors during publication of new books. Their tasks include managing the creation of author bios and websites, organising book tours, arrangement of media interviews on television or radio. A Book Publicist earns between $30,140 and $97,910. Requirements to apply for this job are a bachelor’s degree with at least 7 years of field experience.
3.5 Press Secretary
Press Secretaries work as a liaison between the media, the public and governmental agencies. Requests from newspapers, radio and television reporters; drafting press releases, guest columns and speeches and organizing events such as press conferences are handled by him. Press Specialist earn between $38,400 and $71,670. Requirement to apply for this post would be bachelor’s degree in communications, journalism or public relations with at least 2 years of field experience.
4. Careers in Market Research
For any company to capture a market it is first important to be able to understand that market. Market research involves researching the intended target, could be companies or consumers. The first step is to understand the consumers, their needs, purchasing habits, and how they view themselves in relation to the rest of the world.
Some of the typical roles one can find in a Market Research agency would be:
4.1 Market Research Director
An organizations marketing policies, objectives, and initiatives are guided by the Market Research Director. He is responsible for the adjustment of the marketing plan after reviewing changes in the marketplace. A Market Research Director earns between $104,962 and $154,070. Requirement to apply for this post would be bachelor’s degree with at least 10 years of field experience.
4.2 Market Research Manager
The coordination and direction of activities concerned with market research and the development of new concepts as well as organizations products, services or ideologies is carried out by a Market Research Manager. He is actively involved in the formulation and planning of development proposals which include objective or purpose of projects, costs of projects, equipments and manpower requirements. A Market Research Manager earns between $51,209 and $95,494. Requirement to apply for this post would be bachelor’s degree with 5 years of field experience.
4.3 Market Research Supervisor
A Market Research Supervisor is actively involved in the supervision of market research and analysis of information which would help in the demand for products or services. He is responsible to plan and create research aspects and development proposals which include objective and purpose of project, costs and equipment and manpower requirements. A Market Research Supervisor earns between $52,975 and $111,549. Requirement to apply for this post would be bachelor’s degree with 7 years of field experience.
4.4 Market Analyst
The collection and analysis of data in order to evaluate existing or potential product and services markets is handled by a Market Analyst. They are actively involved in the identification and assessment of research market conditions or industry changes that have the potential to affect sales. A Market Analyst earns between $35,493 and $45,205 annually. Requirement to apply for this post would be bachelor’s degree with 0-2 years of field experience.
To explore each of the above roles in more detail please visit:
http://marketing.about.com/od/exploremarketingcareers/Explore_Marketing_Careers.htm
Salaries in Marketing
Marketing has a wide scope in every sector of the industry with a number of positions to offer. Marketers who are new to the role can approximately expect to earn between $ 28,000 and $39,000 annually. After gaining some marketing experience, marketers often progress as a coordinator or assistant or in a specialist role such as advertising or brand manager. After years of marketing experience marketing managers may earn between $43,000 and $70,000 a year. Further down the line, a senior marketing manager could earn up to $93,000 or more.
Marketing Pay Comparison
(Annual Basic Pay)
According to a survey conducted by Croner Rewards for The Chartered Institute of Marketing (CIM).
| Croner Reward Rank |
Job Level | Marketing $pa |
All Functions $pa |
Comparison % |
Finance $pa |
IT $pa |
HR $pa |
Sales $pa |
| 1 | Head of Marketing |
89,000 | 90,000 | -1.4 | 94,000 | 87,000 | 88,000 | 88,000 |
| 2 | Senior Manager |
68,000 | 70,000 | - 2.6 | 70,000 | 72,000 | 67,000 | 70,000 |
| 3 | Middle Manager |
54,000 | 57,000 | - 5.1 | 57,000 | 60,000 | 56,000 | 59,000 |
| 4 | Junior Manager |
44,000 | 47,000 | - 5.7 | 46,000 | 49,000 | 46,000 | 49,000 |
| 5 | Graduate Supervisor |
37,000 | 39,000 | - 4.0 | 38,000 | 41,000 | 39,000 | 39,000 |
Marketing Career Prospects
There has never been a better time to take up marketing as a profession. Today, marketers play a key role in guiding companies to sail through the challenging times ahead. Marketing has a lot to offer to both those who are embarking on a new career or those already working their way up the marketing career ladder. Starting out, graduates are offered a competitive salary alongside numerous benefits.
All in all Marketing as a career is definitely enjoyable and exciting but very dynamic and challenging at the same time. Most people who have worked in marketing will tell you it provides them with the challenge they have always wanted. The reason being is marketing is always changing; there are always techniques to learn, cases to study, and strategies to research.
Marketing is a vital necessity not only for business firms, but is also for governments, educational, religious, social service, and non-profit organizations or institutions. Marketing provides a great number and variety of job opportunities available to you no matter which career track you decide to follow.
Source:
http://marketing.about.com/od/careersinmarketing/u/marketingcareers.htm
http://www.insidecareers.co.uk/__802574d800556e37.nsf/id/7nwnd7tden!opendocument
Posted in Business, Consulting | Tagged Advertising, Brand management, career, Marketing, Media, PR | Comments Off
Financial Career Track #7: Private Equity
This week we’ll introduce you to the world of Private Equity (PE). Read on to find out about:
What is Private Equity?
What key functions does a PE firm cater to?
Which are the highest performing PE firms?
What skills are required to flourish at a PE firm?
What would an entry-level job look like at a PE firm?
What does compensation look like at a PE firm?
What is Private Equity?
Private Equity firms are concerned with similar dealings to that of investment banks; therefore, they seek to invest in private companies. Their approach to investment is associated with high reward and high risk.
Compared to large corporate investment banks, they are smaller and leaner organisations and are seen to have a more entrepreneurial culture.
There are 3 types of Private Equity firms that you should be aware of:
PE firms that invest money from clients such as pension funds, investment managers, or wealthy individuals.
PE firms that are actually divisions of larger financial services companies.
PE firms that are private companies themselves.
PE firms effectively function due to the partnerships they set up. There are two main types of partnerships:
Partnerships with General Partners
Partnerships with Limited Partners
General Partners provide PE firms with transaction expertise, whereas Limited Partners offer PE firms capital.
You may have come across leading Private Equity firms such as Bain Capital, Carlyle Group, and the Blackstone Group.
It is also important to note the existence of Venture Capital firms, which belong to the category of Private Equity. Venture Capital firms specialise in investing in small early stage companies.
What key functions does a PE firm cater to?
As a prospective PE applicant, it will be useful for you to know what key activities PE employees deal with from day to day. You would be required to take part in all parts of the investment process:
Sourcing – finding the right investment opportunities
Research
Due diligence
Execution
Portfolio management
Exit – all PE firms aim at terminating investments within 3-5 years of initial acquisition
There are also several different career opportunities within the PE industry. Most PE firms are focused on generating money from leveraged buyouts (also known as LBOs). However, you might be involved in other areas, such as:
Venture Capital – providing money to firms who have just begun to produce revenue.
Mezzanine Debt – providing companies debt that is subordinated to bank debt.
Secondaries – taking part in secondary funds that purchase traded private equity interests.
Turnaround situations – investing in companies that are in need of crisis management.
Which are the highest performing PE firms?
Oliver Gottschalg, a professor of management strategy at HEC Paris, compiled a ranking report of PE firms’ performance for their investors. Gottschalg measured the average aggregate performance of all PE firms that he sampled (427) between 1998 and 2007. Below is a list of the top 5:
Waterland Private Equity
Friedman Fleischer & Lower
Platinum Equity
Hellman & Friedman
TPG Capital
Other notable PE firms are KKR, Blackstone, Carlyle, and Bain Capital.
Source: http://finance.fortune.cnn.com/2011/11/14/best-private-equity-firm/
What skills are required to flourish at a PE firm?
Firstly, it is important to be aware of the fact that PE firms have a performance culture; therefore, PE recruiters look for individuals who are consistently driven in improving their performance over time.
Below is a list of key abilities needed in succeeding at a PE firm:
Industry knowledge
Leadership skills
Strong communication abilities and interpersonal skills
Financial modelling abilities
Several years of experience in a relevant industry: PE firms seek individuals who have in-house expertise in financial areas such as money management and investment banking. They also recruit individuals with experience in non-financial areas. The nature of these areas depends on the industries that a particular PE firm invests its energy in.
If you are a recent graduate, the chances of you getting into the PE industry are very slim. Usually PE firms look for people with substantial work experience.
What would an entry-level job look like at a PE firm?
If you are a lucky undergraduate or MBA graduate and have managed to secure a job at a PE firm, there are four activities that you should be expected to work on as an Analyst/Associate:
You will carry out spreadsheet analysis of the economic intricacies of a potential leveraged buyout.
You will take part in coordinating various items needed to complete a transaction.
You will conduct thorough industry research and screen potential buyout candidates in order to be in a position to find new, sound investment deals.
You will be expected to prepare information for a Senior Partner in your PE firm on a potential investment company that is already part of the PE firm’s investment plan.
What does compensation look like at a PE firm?
PE firms are known to provide their employees with the highest salaries in the finance industry. Below are rough benchmarks of how much you should be expected to earn at different professional levels:
Graduate – $90,000
MBA – $200,000
Average starting salary and signing bonus – $145,000 (2008)
Mid-career stage – $300,000 to $800,000
Top positions – $3 to $10 million
Source: http://www.careers-in-finance.com/pe.htm
In addition to your basic salary, you will be rewarded in other ways. For example, as you advance within the PE firm, you will increasingly have a bigger ‘carried interest’ in the company itself. Carried interest is an employee’s participation in a firm’s profitability.
On a final note, it is necessary to be aware of the difficult job situation at the moment due to the adverse effects of the economic crisis on the PE market. It has become harder for PE firms to access debt as well as capital.
If you are thinking of pursuing a financial role in Private Equity and you want to prepare sufficiently for the interview, get some interview preparation help from our experience team at InterviewBay.
Come back next week for an insight into Venture Capital!
Posted in Finance | Tagged career, finance, private equity | Comments Off
6 Different Types of Job Interviews
All job interviews are conducted with the purpose of letting the interviewers evaluate the skills of job applicants and to let the interviewees understand the job profile and the company better. In order to test you on the specific skills that the job demands, employers conduct different types of interviews.
Check out these common types of job interviews that you may have to face during the course of your career:
Traditional One-on-One Interviews
These interviews are more predictable and direct. The interviewers have a definite plan and set of questions that they ask the job applicants. All you have to do is listen to their questions, and provide the information that you are asked for, without deviating too much from the main topic of conversation. Once the interviewer is done with his/her questions, you can ask the questions that you may have about the job and the company.
Telephone Interview
Employees often screen the job applicants who have applied for a particular position, by conducting a quick interview over the phone. This type of interview allows the employer to screen candidates based on their knowledge, experience, qualifications, and eliminate the candidates that are unlikely to meet the company’s expectations.
A telephone interview has its own pros and cons. You are not facing the employer, so you can be more relaxed. You can refer notes while answering questions. But, the fact that you are not speaking to the employer in-person means that you need to impress them with your words and the tone of your voice.
Keep your resume, academic documents and a pen and paper handy, as you might need them during the interview. Be short and precise with your answers and display enthusiasm through your voice and tone.
Behavioral Interview
To perform well in a job, you need much more than the technical skills and experience that the job requires. Skills like decision making, leadership, team spirit and the ability to handle stress – are equally important to succeed in the workplace. Employers conduct behavioral interviews to evaluate these skills in a potential employee and determine how they will act on the job and in certain situations that they are likely to encounter.
You’ll be asked about how you handled certain stressful situations in your previous job. So, go through your resume -identify the questions that you are most likely to get asked and be prepared with your answers to these questions.
Stress Interview
Stress interviews are a way to see how candidates react to unexpected situations and pressures. The interviewer may test your ability to handle stress in different ways like acting rude or irritated, disagreeing with you, or by simply ignoring you.
To handle stress interview, you must keep in mind that this is just an attempt to destabilize your emotional balance. The interviewer is not holding anything personal against you. Once you have understood that this – you would to able to stay calm. Just be yourself and answer the questions confidently. The trick is to not get angry and stay composed throughout.
Panel Interviews
In a panel interview (also known as committee interview), you will have several individuals interviewing you at one time. The interviewers in the panel may be your supervisors, team members and colleagues, they may take turns asking you prepared questions. Panel members take turns in asking you the questions and often, each interviewer’s questions is related to a specific area like domain knowledge, attitude, leadership skills etc.
Prepare for the panel interview by making a list of questions that you may be asked and also prepare a set of questions that you can ask the panel members. When you are asking or answering questions, engage all the members in the panel and not just one individual.
Group Interviews
In group interviews, you will be put in a room with other job applicants. The other applicants will be applying for the same position that you are applying for. These interviews test your professionalism, leadership skills, and ability to function in a group. You are not only judged based on your response to the questions, but also based on the ways that you interact with your peers. Be confident and assertive. You should stand out from the crowd and display leadership skills, but also be able to work comfortably with fellow candidates.
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6 Things to consider before you take up a new job
Searching for a new job is a time-consuming process. Researching on the companies that you would like to join, searching for job openings in those companies, sending out customized CVs to each of the companies you apply for, and attending exhaustive interviews – all this requires lot of time and effort. So, when your hard work finally results in an employment offer, you would be relieved and would most likely accept the job offer.
However, a new job usually is a long-term affair; and before you accept the job offer, it’s important to evaluate your new employer and consider the positive and the negative aspects of the new job that you are planning to take up. So, here are some guidelines to help you determine whether you should take up the new job or wait for a better opportunity.
Understand the Job Profile
You must be clear about your key tasks and responsibilities in the job that you are planning to take up. Following are some of the questions that you need to ask your prospective employer(preferably during the job interview itself) to understand the job profile and the company better:
What would be your day-to-day duties in the job?
If you currently don’t possess the skills needed to handle the tasks independently, would you be given training?
What would be your work hours?
Would the job involve frequent travel?
These are some of the basic things that you need to clarify about the job, with your employer. If you feel that the job is not very interesting, and includes rigid work hours and frequent travelling, that you would not be quite happy with, then it’s better to wait and look for a more suitable job offer.
Evaluate the Work Culture
The work environment affects your state-of-mind and productivity. A dull and depressing work environment can leave you feeling tired and drained out even if your work is not quite exhausting, and a positive and lively work environment can make you happy and motivate you to carry out your day-to-day tasks. Apart from evaluating the general liveliness and positivity of the work environment, it’s also important to consider if the environment suits your individual needs. For example, if you strongly prefer a formal corporate atmosphere, then you probably won’t fit in well in a company that has more informal work culture.
Know your teammates and colleagues
Having good rapport with the team members is necessary in a workplace. You need supportive colleagues and an understanding boss to grow and succeed in the workplace. Differences in work styles and opinions can result in unproductive and unhappy teams.
You would most likely be introduced to your future boss and colleagues during interview or later once you get your employment offer. Ask yourself – Would you be happy and comfortable working with your new team and boss? Do they have work styles similar to yours? Does your communication style and personality match with that of your team members? If not, it’s better to think twice before accepting the job offer.
Is Office Location suitable for you?
The job location and the commute time is a factor that you cannot afford to ignore. If your job is already stressful and requires you to work long hours, then a 2-3 hours commute time may add up to the stress and affect your productivity. Find out if you have an option to work from home and avoid the long commute time.
Review the compensation package
How does the salary package offered in the new job compare with that offered by your previous employer? Even if you value job satisfaction over higher pay, you would atleast want to get paid fairly for the work that you are doing. Do some research and find out the pay range for your specialty and position, and let your potential employer know if you are not happy with it. Also take into consideration, other benefits and perks such as insurance, travel allowances, sick leave, reimbursement for training programmes, etc.
Career progression and growth opportunities
To stay motivated and happy in a job, you need to have opportunities to grow, take new roles and cultivate new skills. The company that you are planning to work for and the position that you are planning to take up should foster growth. You don’t want to be stuck in a job that does not allow for growth and advancement for a long period of time.
Speak to your employer and try to get a basic idea of the growth opportunities available in the company. Do some research and find out how quickly and whether or not the people who held the job moved up the growth ladder.
Posted in Interview Tips | Tagged Job, Recruitment | Comments OffWhat not to do during Job Interviews?
Job Interviews can be stressful, and the thought of facing an interview can even make even the most confident person nervous. However, with little practice and preparation, you can ace job interviews and land a job in your dream company. It’s important to be aware of the things you should do during an interview, and also be aware of the things you must avoid doing during a job interview.
Listed below are few things that you should never say/do during job interviews.
Say that you know something, when you don’t really
Stating that you know something, even when you don’t really know it – this is perhaps one of the most common blunders that people make during job interviews. It’s good to be honest during interviews. If you don’t know the answer, just say that you don’t know it, but are ready to research and find out the correct answer. You must sell yourself well on the resume by stating your skills, strengths and achievements, but don’t ever oversell or lie about your skills and achievements. Your interviewer would spot the lie sooner or later.
Talk, Talk and Talk
Ok, so you are an extrovert and a talkative person by nature. These are positive traits that you can use to your advantage during an interview. However, it’s important to maintain a balance between talking and listening if you want to be considered a good communicator. If you constantly interrupt the interviewer and start answering even before he/she finishes the question, you would come across as being a bad listener and an annoying person. So, stop rambling and start listening.
Not arrive on time
Arriving late for the interview indicates that you are unprofessional, and careless towards work. Things like traffic jams, car problems, and other emergencies are likely to cause an unexpected delay. Leave 30 minutes early, to make sure you arrive on time. Have the contact number of the HR manager or the person you are interviewing with, and let them know if you are late under some unavoidable circumstance.
Being too casual
It’s better to dress formally for the interview. Apart from maintaining a professional appearance, you must also avoid behaving too casually. Chewing gum during the interview, cracking jokes, gossiping and using inappropriate language- all these casual behaviors can ruin your interview and your employer would feel that you would be a misfit in the company.
Criticize your former employer
Saying negative things about your former boss is a big no-no. It says that you are going to do the same when you the leave the company for which you are interviewing right now. Keep your conversations positive and if you have not had a good relationship with your former employer, try not to dwell on it too much.
Ask about the pay, promotions, benefits and bonuses
You must give in order to get. Your first interview is about what you can do for the company and how your skills and strengths can contribute the company’s advancement. It’s not about what you can get from your employer. Avoid asking questions about the pay, promotions, bonuses and benefits of the job, until the interviewer opens up the subject and asks you about your expectations.
Not ask any questions
Asking questions is as important and giving answers to the questions being asked by the interviewer. If you don’t ask any questions, it says that you are not interested in the job. Ask about your job profile, about how you would be contributing to the growth of the company, the work environment etc. Do some research on the company and have at least 3-5 questions that you can ask the interviewer.
When asked about your weaknesses, don’t say you don’t have any
Employers often ask you to mention your weaknesses during the interview to test your honesty and modesty. If you say that you don’t have any, the interviewer may feel that you are trying to hide something. One way to handle this tough question is to focus on your positive weaknesses. For instance, if you take work a bit too seriously sometimes and miss out on having fun with the coworkers, you could mention this as a weakness and state that you are working on being more interactive and friendly with your coworkers.
Posted in Interview Tips | Tagged Interview | Comments Off
Hiring the right candidate for Job – Things to keep in mind
Hiring the right candidate for job is essential for all organizations. A wrong employee can lead to loss of time and resources. A right job candidate, on the other hand, can contribute to the growth of the company and have a positive impact on the work environment. It’s therefore necessary that companies take the process of hiring seriously, and do not compromise on the qualities that they are looking for in the job candidates.
Here are few points you must keep in mind to ensure that you hire the right employee for a job position in your company:
Define the job before you start hiring
Before you hire an employee for the job, you must know what you should be looking for in the candidate. Collect information on the job responsibilities, necessary knowledge, skills, experience, and the personality traits needed in the candidate you are hiring for a particular position. Performing this kind of job analysis helps you to eliminate the unsuitable candidates and zero in on the right ones.
Look for the candidates in the right place
You can look for potential candidates on major job portals or use social media sites like LinkedIn and Facebook to target the right candidates for the job. Social networking sites are turning out to be great tools for recruitment. They help companies hire candidates from the trusted network of their current employees.
It’s always better to have a wide pool of shortlisted candidates, and maintain long-term relationship with the ones you feel are good. Even if you don’t hire all the candidates you have shortlisted, you can reach out to them if one of the chosen candidates rejects the job offer and when there are more openings for the same position in the future.
Review Credentials and Academic Documents
Reviewing resumes, academic documents, and job applications letters can be quite time- consuming. You can save the time taken to filter out the best candidates, by having a clear description of the job roles and responsibilities. Screen all applicants against your list of the most desired characteristics of the candidate you are hiring and choose the applicants that match most of your requirements.
Conduct a Prescreening Interview
Another way you can save the interview and selection time is by conducting multiple rounds of interviews. A prescreening interview, before the main round of interview, will tell you beforehand if the candidate is a right fit for your company. Prescreening interviews help you gauge the general interest of candidates towards the job and determine whether their salary expectations correspond to the salary being offered by the company.
Conduct Background Checks
Effective background checks are necessary while hiring an employee. Verify all the presented documents, credentials, and speak to the candidate’s former supervisors and colleagues to check if they actually possess the skills and experience they claim to possess.
Be Prepared for the Interview
Interview is the most important part of the recruitment process. Like the candidates the interviewer also needs to be well prepared to get the most out of the interview. Have a list of questions that you think would give you the answers you are looking for. Encourage the candidates to ask questions to gauge their knowledge and experience in the field. Evaluate them based on their verbal and non-verbal communication skills. Here are few questions that you must ask yourself while you are interviewing candidates for the job.
Do they have the necessary skills?
Once you have a clear description of the job profile and the required skills, you can prepare interview questions that would help you evaluate the candidates based on those skills. The interview panel should comprise of experienced employers and at least one person from the department that the candidate is likely to join. This would help you better judge the candidate’s professional proficiency and job-specific skills.
Do they like learning?
The candidates you are hiring may satisfy most of the job requirements, but might not possess all the required skills. Companies train employees and further groom them for the job. More than the skills, the job candidates need to possess the desire to learn and grow in their job. Does the person you are interviewing display curiosity and love for learning?
Are they good team players?
Today’s competitive business environment demands individuals who are able to independently handle tasks, but can work comfortably in groups and collaborate with others successfully. Apart from the job-specific skills, inter-personal skills are something you must look for in the candidates you hire. Ask yourself – Does the candidate display good interpersonal skills and have a prior experience of managing and working in a team?
Posted in Interview Tips | Tagged Hiring candidates, Recruitment | Comments Off
Things to consider before choosing an MBA college
The success of an MBA degree depends on various factors. Getting into a reputable MBA College and getting good grades in the exams does not guarantee success in your future career. A lot depends on the planning you do before taking up the MBA course, the institute you choose for studying and the way you utilize all the resources(training, mentoring, exposure, contacts) being offered to you during your course.
It’s important to identify and opt for the right college to pursue MBA. Here are few things you must consider before choosing an MBA college.
What do you want to do with the MBA?
Do you want to work as the CEO of a leading technology firm? Do you want to run your own business? Where do you want to be after your MBA degree? The first thing to do when you are applying for business schools is to think about your career path, based on your interests, strengths and abilities. For, instance if you want to start your own business, then look for the colleges that have an inclination towards entrepreneurship and help you nurture the entrepreneur in you.
Does the MBA College have a Good Ranking?
Business schools may be ranked generally based on their placement record, the quality of students, faculty members etc. This ranking can give you a basic idea of the top business schools. A school’s reputation can serve you well in terms of gaining more exposure, developing a strong list of contacts in the form of mentors and classmates. However, opting for an MBA college, based entirely on its ranking is not a good idea. You must also see how well the college meets you career goals and interests.
A college might have a good reputation locally, but it might not be known well in other countries. If you prefer to work in a particular country, then dig deeper to find out which schools are considered the best by the employers in the country where you wish to work.
What’s the Duration of the Course?
While most of the European MBAs take one year, MBA colleges in America generally take two academic years. Colleges also allow students to opt for full-time or part-time MBA. It’s better to check the duration of the course in advance, and choose the one that is more convenient and suitable for you.
How much do you need to spend on the course?
Business school tuition fees can be quite expensive and you should consider that factor before applying. Decide how much you are prepared to pay for your education and look for schools that fit into that criterion. Also, keep in mind other expenses such as cost of living and commuting that would add up to the course fee. Several scholarship and financial aid opportunities are available these days that can make even the most expensive MBA courses affordable. Do some research to find out about the scholarships that can you can apply for.
Does it have a good Placement record?
What kind of companies do you want to get into after your MBA? Choosing a school with a good placement record is important. It’s also important to find out whether the companies you are interested in working for, come for placements, to the college that you have chosen. Most business schools will supply placement statistics to the interested applicants. Speaking to the former graduates of the school will also give you some valuable insight.
Have you done research on the University faculty members?
Once you narrowed down your list of schools to join, based on the above mentioned factors, you can try to learn more about the faculty members at your prospective schools. If they have had any prior working experience in the field you are planning to break into, and have good contacts with the other people in the industry, then these are the types of individuals that can assist you in achieving your career goals.
Posted in B-Schools | Tagged B -School, MBA | Comments OffFinancial Career Track #6: Technology
Technology is the centre of our focus in this week’s edition of InterviewBay’s blog article series on Financial Career Tracks. Without the banking division of Technology, banks wouldn’t be able to execute the most difficult as well as the simplest transactions. Technology is ultimately the skeleton of a bank and provides essential competitive advantage for the bank. This article will provide you with answers to the following questions:
What is Technology?
What roles can you find in Technology?
What skills are you expected to have?
What will a Graduate role look like and how will you progress?
What is Technology?
Most Technology functions in a bank that you would be required to execute is not the simple day-to-day IT support, which is usually provided by outsourcing facilities from different parts of the globe. As a Technology specialist at a bank, you would work on developing complex IT solutions particular to the business.
Within Technology you would be expected to:
Ease communication between the bank and its clients.
Enable the execution of transactions.
Streamline trading processes.
Provide 24/7 support.
Create proposals and provide project management support for new IT systems.
Technology may have its own distinct, centralised division within the bank or may be fused with different departments across the business. This is wholly dependent on how the bank structures its divisions.
What roles can you find in Technology?
There are many specialisations within Technology and depending on your area of interest and expertise, you will be assigned to one of the following roles:
Business Analyst
As a Business Analyst, you would be in charge of finding out what requirements would need to be set into motion by the bank in order to implement new IT systems.
Functional Analyst
As a Functional Analyst, it would be your role to identify and troubleshoot problems.
Application Developer
As an Application Developer, you would be working in close cooperation with various banking divisions in order to create new IT applications.
Production Manager
As a Production Manager, your role would be to ensure that all IT systems are functioning efficiently. You would also be responsible for implementing new applications across the bank.
Service Manager
As a Service Manager, you would take on the important role of taking good care of the relationship between the bank and its IT service providers.
Project Manager
As a Project Manager, it would be your responsibility to manage all types of IT projects running across different banking departments.
Technical Specialist
As a Technical Specialist, you would be developing numerous technical specifications required for the efficient functioning of the bank.
What skills are you expected to have?
The skills required for performing a Technology function successfully are numerous. As a prospective applicant, you should carefully consider whether you tick the boxes for most of the points below:
A minimum of a Bachelor’s degree (technology-focussed degree is advantageous, but not necessary. If you demonstrate significant technology knowledge and passion, you should apply for this position as well).
Have a strong fascination for the world of technology. It is imperative that you keep up to date with the latest technology developments in the business world. (You may want to have a look at the Banking Technology online information forum).
Clearly understand the concept of technology being a business enabler in our modern world. As a Technology specialist, you will be required to deliver practical IT solutions in order to streamline the bank’s processes.
Be very comfortable working with IT systems.
Be a team player (don’t expect Technology work to be independent. Most of the functions require creative team-work).
Flourish in problem-solving activities.
Be a good communicator.
Be willing to travel (Banks operate globally; therefore, you may be required to travel quite frequently).
It is also important to mention that if you are a university student and are thinking of a career in Technology, it would be of great help if you applied to Technology internship programmes at various banks. Much of the recruitment done for graduate roles in Technology is through internship programmes. If you have already graduate and haven’t done technology-related internships in the past, do not despair! Graduate recruitment is not limited to internship completion.
What will a Graduate role look like and how will you progress over time?
As a Graduate, you will receive a good portion of general education in order to feel comfortable working in the field. You need to be prepared to work long hours in a highly pressurised environment. Being creative and innovative every day as a Technology employee requires great stamina and energy. As you advance and take on more responsibility and accountability, you will be designated a particular area of expertise or you may continue to forge your way as a generalist.
If you are thinking of pursuing a financial role in Technology and you want to prepare sufficiently for the interview, get some interview preparation help from our experienced team at InterviewBay.
Come back next week for an insight into Private Equity!
Posted in Finance | Tagged career, finance, technology | Comments Off
How to manage and retain the best talent in your company?
Gone are the days when people would stick to a particular company for 10-15 years, without opening up to the opportunities that might come their way, promising a more fulfilling job, a better work culture and a more attractive pay package. These days, employees are constantly thinking: Is there any other company that I would rather work for? Am I getting all that I deserve here? They have high expectations from their employers, and are no longer fearful about quitting a company that does not meet their needs, to join the one that does. In the current scenario, companies must work harder to employ and retain their best talent, lest they lose their star performers to their competitors.
“Since the economic recession, one in every four high-performing employees is actively seeking a new job. Top firms are working aggressively to lure top external talent away from their current employers, while working carefully to fortify the relationship with their own employees. To attract and retain the best talent, these companies are tightly managing their employee value proposition (EVP) or employment brand. This process involves understanding the needs of key employee segments, understanding current brand strengths and weaknesses, investing to redesign the value proposition, and improving communications to current and prospective employees. Firms are also using this process to build a stronger, more unified corporate culture,” says CLC Genesee, the workforce survey and HR consulting division of The Corporate Executive Board.
High-performing companies are driven to great heights by high-performing individuals. Investing time and resources to retain the best employees is worth the effort. So, here are few things that you can do to better manage your company’s top talent.
Have ‘Employees first’ attitude
Make your company a place that people want to join and stay. The best way to hire and keep top talent is to create a culture where people are treated with respect and their needs are met, before the needs of the company. If your employees don’t feel valued, or feel under-valued for their efforts, they are less likely to perform their best, and stick to your company for long.
Build a Culture that encourages Open Communication
Cultivate a culture of open communication. Always keep your employees in the loop. Whether your company is going through a tough phase, is about to get acquired or is planning to incorporate some major changes in the work environment- let people know what’s going on. As an employer, you might be tempted to keep information guarded. However, most employees appreciate open communication and a more transparent culture that is based on high level of trust.
Invest in Training
High-performing employees crave for new challenges and opportunities to learn. The idea of offering offsite or in-house training from time to time, might turn out to be an expensive affair, but the investment is worth it. It not only impacts the performance of your employees in a positive way, but also provides them with a mentally-stimulating environment where they continue to improve and grow. Training courses, seminars, conferences, opportunities for further education – your company and your employees get to benefit from these initiatives in a big way.
Capitalize on their Strengths
It’s important that employers are well aware of the key strengths of their employees and help them in utilizing their talents and skills to their advantage. If an employee you hire proves to be a good fit for your company, but not for the position you hired them for, why not try moving them to another position that keeps them interested and capitalizes on their strengths.
Recognize their achievements, and reward them for their efforts
A study conducted by psychologist Adam Grant of the University of Michigan suggests that when workers have personal contact with the beneficiaries of their work, they perform better. For instance, employees that directly interact with the customers are significantly happier than those who don’t, because those who directly interact with customers can clearly see the impact their work is having on the customers and experience joy when they see their customers happy.
We all crave for recognition and are driven to perform better when we are appreciated for our contributions. An employee’s morale is positively influenced after knowing that his or her work is meaningful. So, let your employees know that they have a significant role to play in shaping the future of the company. Congratulate them for their achievements and reward them with personal recognition note, bonuses, and a well deserved break from work.
Provide Feedback
Good employers not just gather data on their high-potential employees; they give them ongoing feedback about their performance. You can point out the areas where they can improve, but don’t forget to provide them with positive feedback on the things they are handling well. Encourage your employees to set target goals and provide all the support they need to achieve them.
Posted in Consulting | Tagged Company, HR, Talent | Comments Off ← Older posts
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