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Financial Recruitment Insight from the Professionals

TAG | Careers

What those dreaded interview questions really mean
During an interview, it’s often questions unrelated to your ability to do the job that take candidates by surprise. While you’ll never be able to anticipate every question you might be asked in an interview, you can get a head start by developing strong, concise answers to commonly used questions.
Q: Tell me a bit about yourself
What they’re really saying: I’m trying to figure out if you’re a good fit for my team.
They’re not asking for an autobiography. This question calls for a one-minute advert that summarises your years of experience and skills and your personality in the context of the job. Get to the point and sell your professional self. A few brief sentences that demonstrate experience, proven results and desire to contribute is all that’s needed.
Q: What are your weaknesses?
What they’re really saying: No one is perfect, how do you perceive yourself?
This question is one many job seekers dread so it’s important to prepare a good answer. The secret to answering this question is using your weaknesses to your advantage.
Q: Why should we recruit you?
What they’re really saying: What skills and experience can you offer us over the other candidates?
The key to answering any question about you versus your competition is using specifics. Give real examples that show them why you are the candidate best suited to the job. Point out your achievements and accomplishments throughout your career that are relevant to the open position. Pinpoint the qualities you have that are truly valuable to the company.
Q: Where do you see yourself in 5 (or 10) years time?
What they’re really saying: Do you know where you’re going in life, and are we part of it?
This question is really testing your stability and reliability; you need to talk about goals you have that relate to the job. This will demonstrate that you understand the industry and the company and are motivated to succeed there.
Employers are simply trying to gain an insight into those they are interviewing. Remember they’re not purposely trying to trick or embarrass you. Good luck!

interview1

During an interview, it’s often questions unrelated to your ability to do the job that take candidates by surprise. While you’ll never be able to anticipate every question you might be asked in an interview, you can get a head start by developing strong, concise answers to commonly used questions.

Q: Tell me a bit about yourself
What they’re really saying:
I’m trying to figure out if you’re a good fit for my team.

They’re not asking for an autobiography. This question calls for a one-minute advert that summarises your years of experience and skills and your personality in the context of the job. Get to the point and sell your professional self. A few brief sentences that demonstrate experience, proven results and desire to contribute is all that’s needed.

Q: What are your weaknesses?
What they’re really saying: No one is perfect, how do you perceive yourself?

This question is one many job seekers dread so it’s important to prepare a good answer. The secret to answering this question is using your weaknesses to your advantage.

Q: Why should we recruit you?
What they’re really saying: What skills and experience can you offer us over the other candidates?

The key to answering any question about you versus your competition is using specifics. Give real examples that show them why you are the candidate best suited to the job. Point out your achievements and accomplishments throughout your career that are relevant to the open position. Pinpoint the qualities you have that are truly valuable to the company.

Q: Where do you see yourself in 5 (or 10) years time?
What they’re really saying: Do you know where you’re going in life, and are we part of it?

This question is really testing your stability and reliability; you need to talk about goals you have that relate to the job. This will demonstrate that you understand the industry and the company and are motivated to succeed there.

Employers are simply trying to gain an insight into those they are interviewing. Remember they’re not purposely trying to trick or embarrass you. Good luck!

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Are you thinking about resigning from your job?
If you are, there’s a chance you’re focused on getting from your current role to your next. But I urge you to take a longer-term view; the way that you conduct yourself during the resignation process can affect your reputation and your contacts, two of the most important building blocks of your career. You wouldn’t want to ‘burn your bridges’ with a manager and then face them at an interview panel several years later!
Here are some tips to keep in mind:
Prepare: As with most things, it helps to be prepared. Set up a meeting with your manager at a mutually convenient time, in a place where you won’t be disturbed. Expect your manager to take an interest in why you want to resign – be confident in your reasons and willing to answer a few conversational questions.
Resignation letter: Take your printed resignation letter with you. Keep your letter brief and formal, and be sure to express appreciation for the opportunities you received from the company (even if you’re not feeling particularly grateful!).
DON’T: lose your composure, be defensive, bad mouth the company or colleagues, gloat about your new position or slacken off during your notice period. Leave the meeting on a positive note – agree on a wind-down plan, which may include a hand-over.
Social media: Save any constructive criticism for your exit interview, not Facebook, and don’t update your LinkedIn status until at least your first week at your new job.
Buy back: Your employer may try to entice you to stay (also known as a ‘buy back’). Consider the offer but weigh it against the ‘push factors’ that led you to tender your resignation. It might help to bear in mind that 80% of buy backs leave within six months.
Overall, remaining courteous and professional will leave good communication channels open, even after you’ve left. You never know when your paths may cross again.

resignation

Are you thinking about resigning from your job?

If you are, there’s a chance you’re focused on getting from your current role to your next. But I urge you to take a longer-term view; the way that you conduct yourself during the resignation process can affect your reputation and your contacts, two of the most important building blocks of your career. You wouldn’t want to ‘burn your bridges’ with a manager and then face them at an interview panel several years later!

Here are some tips to keep in mind:

  • Prepare: As with most things, it helps to be prepared. Set up a meeting with your manager at a mutually convenient time, in a place where you won’t be disturbed. Expect your manager to take an interest in why you want to resign – be confident in your reasons and willing to answer a few conversational questions.
  • Resignation letter: Take your printed resignation letter with you. Keep your letter brief and formal, and be sure to express appreciation for the opportunities you received from the company (even if you’re not feeling particularly grateful!).
  • DON’T: lose your composure, be defensive, bad mouth the company or colleagues, gloat about your new position or slacken off during your notice period. Leave the meeting on a positive note – agree on a wind-down plan, which may include a hand-over.
  • Social media: Save any constructive criticism for your exit interview, not Facebook, and don’t update your LinkedIn status until at least your first week at your new job.
  • Buy back: Your employer may try to entice you to stay (also known as a ‘buy back’). Consider the offer but weigh it against the ‘push factors’ that led you to tender your resignation. It might help to bear in mind that 80% of buy backs leave within six months.

Overall, remaining courteous and professional will leave good communication channels open, even after you’ve left. You never know when your paths may cross again.

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Melody fails to grasp the reinvestment task.
On last night’s episode of The Apprentice, both teams struggled to grasp the idea of the reinvestment task, whereby they were given a pallet of stock from a wholesaler to sell to the public. The real challenge was to make a profit by reinvesting in stock they knew would sell. At the end of the show, chatterbox Melody Hossaini was silenced by Lord Sugar when she became the latest contestant to be fired.
Over the course of the season, we’ve watched Melody, founder and director of ‘Global Youth Consultancy Business’, demonstrate some great skills, consistently taking big risks and putting herself forward as project manager.
It was clear that firing Melody was not an easy decision for Lord Sugar to make. Unlike the usual slaughter house style axing, Sugar commented, “You three have given me a bit of a dilemma to consider here”. Lord Sugar’s final line before dismissing Melody was “It is with regret, Melody, that you’re fired”. After Melody left the boardroom he said, “We have a woman of exceptional ability there I think, but it is a cruel process”.
Will Lord Sugar live to regret his decision? Like he did in the 2010 series after sacking Lizz over Stuart Baggs? Time will tell.
The advice we can offer:
Employers – clearly you won’t be under as much pressure with cameras rolling to make a decision on the future talent of your company, but choosing the right professional, no matter how many rounds of interviews are done, is always a gamble. Using an experienced recruitment consultant will  reduce that risk so always seek their advice and make sure you are working with the best.  Remember, a recruitment consultant’s success is measured by matching the right individual to the right role, consistently.
Job seekers – clearly Melody was talented, Lord Sugar thought so, and so are you, but often when you are up against competition that appears equally as good as you, it’s hard to not feel bruised when you’re not chosen. Learn from knock backs and work to gain more experience until you get that offer.  Be patient, confident and believe in yourself.  The right role will come along for you and you will be glad you were made wait. Trust me, I am a recruitment consultant…

photo1

On last night’s episode of The Apprentice, both teams struggled to grasp the idea of the reinvestment task, whereby they were given a pallet of stock from a wholesaler to sell to the public. The real challenge was to make a profit by reinvesting in stock they knew would sell. At the end of the show, chatterbox Melody Hossaini was silenced by Lord Sugar when she became the latest contestant to be fired.

Over the course of the season we’ve watched Melody demonstrate some great skills; consistently taking big risks and putting herself forward as project manager.

It was clear that firing Melody was not an easy decision for Lord Sugar to make. Unlike the usual slaughter house style axing, Sugar commented, “You three have given me a bit of a dilemma to consider here”. Lord Sugar’s final line before dismissing Melody was “It is with regret, Melody, that you’re fired”. After Melody left the boardroom he said, “We have a woman of exceptional ability there I think, but it is a cruel process”.

Will Lord Sugar live to regret his decision? Like he did in the 2010 series after sacking Lizz over Stuart Baggs? Time will tell.

The advice we can offer:

Employers – clearly you won’t be under as much pressure with cameras rolling to make a decision on the future talent of your company, but choosing the right professional, no matter how many rounds of interviews are done, is always a gamble. Using an experienced recruitment consultant will  reduce that risk so always seek their advice and make sure you are working with the best.  Remember, a recruitment consultant’s success is measured by matching the right individual to the right role, consistently.

Job seekers - clearly Melody was talented, Lord Sugar thought so, and so are you, but often when you are up against competition that appears equally as good as you, it’s hard to not feel bruised when you’re not chosen. Learn from knock backs and work to gain more experience until you get that offer.  Be patient, confident and believe in yourself. The right role will come along for you. Trust me, I am a recruitment consultant…

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GlennWard

Last night’s episode of The Apprentice saw Lord Sugar boot out the latest unsuccessful contestant Glenn Ward, a senior design engineer. In the moments before firing Glenn, Sugar said, “Glenn, I’ve never yet come across an engineer that can turn his hands to business.” Online bloggers went spare at this comment.

Glenn ended up in the boardroom when his team failed the task to publish a free magazine (or ‘freemium’) of their choice. Glenn’s team chose to target the over 60s market, and attempted to be ironic by naming their magazine ‘Hip Replacement’. Despite being praised at first for choosing a gap in the market, the team lost the challenge after their negotiation skills were criticised and media buyers baulked at their magazine’s title.

Sugar’s aide Nick Hewer provided further insight into the situation on the aftershow. “Lord Sugar loves engineers…he is an engineer! He has just had a couple of bad experiences where professionals with engineering backgrounds were given commercial roles and it didn’t work out,” he said.

This may be true but the reaction on blogging websites conveyed the feelings of many that Sugar was being prejudiced. Had he never heard of Isambard Brunel, Henry Ford, James Dyson, Steve Jobs – engineers who didn’t do too badly at business?

So what do you think? Do employers view a change in career path negatively? Are quantitative degrees considered unsuitable for commercial roles? I’d be interested to hear from you.

Engineering his downfall
Last night’s episode of The Apprentice saw Lord Sugar boot out the latest unsuccessful contestant Glenn Ward, a senior design engineer. In the final moments before firing Glenn, Sugar said, “Glenn, I’ve never yet come across an engineer that can turn his hands to business.” Online bloggers went spare at this comment.
Glenn ended up in the boardroom when his team failed the task to publish a free magazine (freemium) of their choice. Glenn’s team chose to target the over 60s market, and attempted to be ironic by naming their magazine ‘Hip Replacement’. Despite being praised at first for choosing a gap in the market, the team lost the challenge after their negotiation skills were criticised and media buyers baulked at their magazine’s title.
Sugar’s aide Nick Hewer  provided further insight into the situation on the aftershow. “Lord Sugar loves engineers…he is an engineer! He has just had a  couple of bad experiences where professionals with engineering backgrounds were given commercial roles and it didn’t work out,” he said.
This may be true but the reaction on blogging websites conveyed the feelings of many that Sugar was being prejudiced. Had he never heard of Isambard Brunel, Henry Ford, James Dyson, Steve Jobs – engineers who didn’t do too badly at business?
So what do you think? Do employers view a change in career path negatively? Are quantitative degrees considered unsuitable for commercial roles? I’d be interested to hear from you.
Engineering his downfall
Last night’s episode of The Apprentice saw Lord Sugar boot out the latest unsuccessful contestant Glenn Ward, a senior design engineer. In the final moments before firing Glenn, Sugar said, “Glenn, I’ve never yet come across an engineer that can turn his hands to business.” Online bloggers went spare at this comment.
Glenn ended up in the boardroom when his team failed the task to publish a free magazine (freemium) of their choice. Glenn’s team chose to target the over 60s market, and attempted to be ironic by naming their magazine ‘Hip Replacement’. Despite being praised at first for choosing a gap in the market, the team lost the challenge after their negotiation skills were criticised and media buyers baulked at their magazine’s title.
Sugar’s aide Nick Hewer  provided further insight into the situation on the aftershow. “Lord Sugar loves engineers…he is an engineer! He has just had a  couple of bad experiences where professionals with engineering backgrounds were given commercial roles and it didn’t work out,” he said.
This may be true but the reaction on blogging websites conveyed the feelings of many that Sugar was being prejudiced. Had he never heard of Isambard Brunel, Henry Ford, James Dyson, Steve Jobs – engineers who didn’t do too badly at business?
So what do you think? Do employers view a change in career path negatively? Are quantitative degrees considered unsuitable for commercial roles? I’d be interested to hear from you.

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“Hi, my name is Sarah Badham-Thornhill – I’m calling from Morgan McKinley.”
“Oh…yes…I’m not looking thanks…”
HANG UP

Recently I’ve found myself thinking about the challenge that recruiters face in opposing the perception that we are all sharks, CV churners, Porsche-driving-wannabes…well, you name it, I’ve heard it.

My background is perhaps more clear cut than the stereotype would suggest. Three years at Bristol University and a degree in Politics, in 2008 I found myself a graduate facing the prospect of a global recession and no ideal career in mind except one that I could work closely with people.

Three years later I now work as a senior consultant within Morgan McKinley’s specialist Practice division and count myself lucky to work with top tier clients such as the Big Four, top 10 accountancy firms and specialist boutiques. I have developed working relationships with HR directors, officers and partners alike and truly believe that my skill set is required to ensure that talent is hired into their businesses.

Yet the challenge remains the same. Professional accountants receive thousands of phone calls from head-hunters and recruiters per year, many from those who do fulfil the stereotype. In the 30 seconds that I get to introduce myself, how can I take a different approach? What would make myself stand out as someone who is looking to help you build your career?

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This week, we released a salary survey which provides market intelligence into hiring and remuneration across the financial services sector in London. Over the course of 2010, we saw increased hiring activity within this sector. According to Morgan McKinley’s widely read monthly London Employment Monitor, the total number of job vacancies increased by 48% year-on-year. Whilst this is a pleasing increase, it is still at relatively suppressed levels when compared to pre-recession levels.

Other key findings from our research are also positive. Well over half of hiring managers (62%) expect to see salaries increase over 2011. Only a quarter (26%) expect them to stay the same. This not only reflects an improving market and a stronger demand for talent by our clients but is a strong indication of how, once again, it is becoming increasingly difficult to attract and retain staff. Over half (52%) of our clients cited that attracting and retaining staff would be the key driver for salary increases this year. Combined with these results, the whole subject of bonus is clearly a key barometer of market conditions. Whilst the largest percentage of our clients (38%) felt that bonuses would remain similar to 2009/10, over a quarter (27%) felt they would increase in the 2010/11 bonus round. Overall, the trends and key indicators for 2011 continue to point to further improvement in the employment market.

Download our 2011 London Salary Survey as a pdf [2.92 MB] >>

We hope you find this salary guide informative. If you have any questions, feedback or would like to discuss any of the findings in this salary survey, please feel free to contact me or any of my colleagues here at Morgan McKinley for further information. Finally, I would like to thank you for your continued support and wish you all the best in your employment endeavours in 2011.

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Jan/11

5

Career resolutions for 2011

new_yr_resEach New Year I try to make some resolutions. January is a natural time for everyone to reflect on the previous year and a good time to take stock. From experience, the resolutions which work best are the ones which are specific and measurable. General or vague goals with no thought or planning as to how you will achieve them can lead to unfulfilled goals and prevent you from achieving your long term career objectives.

1. Are you satisfied with the work you do? If you answer, yes then congratulations! If the answer is no, then perhaps you need to ask yourself what exactly are you unhappy with specifically. Is it the industry? Could you be in need of a complete change of career? It may not be that drastic, it could be that your work is not varied enough and has become mundane as a result. This can be solved quite easily by expressing this to management. Together you can brain storm, how you can expand your role within the organisation.

2. Keep your finger on the pulse of the jobs market. You do not necessarily want to move or change job but there is no harm in doing some research into what organisations are hiring and which positions are in high demand. It is helpful to have an up to date and accurate figure of what professionals in your industry are earning. You may also find that there is a new skill or qualification that is becoming more of a requirement and decide to up skill.

3. Keep your CV updated regularly. This is a good time to update your CV to include your achievements from the previous year. If you deal with an agency or a recruitment consultant, this is a good month to send them a copy of your updated CV for their files.

4. Break down your career plan. Knowing where you want to be in 5 years is great but you have to know how you are going to get there. As mentioned above, specific and measurable goals are paramount. You need to break your plan down so you have more of a chance of achieving your long term career goals.

5. If circumstances change then so should your plan. Your goal doesn’t need to change but how you are going to go about getting it, should. Sometimes situations beyond your control take hold and it is important to alter your plan to factor in these changes.

If you are considering a career change or you would like to know more about jobs relevant to you, visit our website to speak to one of our consultants. We are releasing our 2011 Salary Survey in the coming weeks and I will post a blog with a link to it once it is live.
new_yr_res
Everyone starts January with good intentions but how you go about keeping them and achieving your goals is a different task entirely! Here are some of my tips for tracking your career resolutions:

1. Are you satisfied with the work you do? If your answer is yes, then congratulations! If your answer is no, then perhaps you need to ask yourself what specifically you are unhappy with. Is it the industry? Could you be in need of a complete change of career? It may not be that drastic, it could be that your work is not varied enough and has become mundane as a result. If this is the case, your situation might be improved by scheduling a meeting with management to discuss your career development. Together you should be able to brainstorm ways to expand your role within the organisation.

2. Keep your finger on the pulse of the jobs market. Even if you do not necessarily want to change jobs there is no harm in doing some research into which organisations are hiring and which positions are in high demand. It is helpful to have an up to date and accurate figure of what professionals in your industry are earning. You may also find that there is a new skill or qualification that is becoming more of a requirement and decide to upskill.

3. Keep your CV up to date. Now is a good time to update your CV to include your achievements from last year. If you deal with an agency or a recruitment consultant, it is also a good month to send them a copy of your updated CV for their files.

4. Break down your career plan. Knowing where you want to be in five years is great but you have to know how you are going to get there. Specific and measurable goals are paramount. Take some time to break your plan down so you have a greater chance of achieving your long term career goals.

5. If circumstances change then so should your plan. Your goal doesn’t need to change but how you are going to go about getting it, should. Sometimes situations beyond your control take hold and it is important to alter your plan to factor in these changes.

If you are considering a career change or you would like to know more about jobs relevant to you, visit our website to speak to one of our consultants. Please feel free to comment or ask questions.

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By adding value, I mean are you contributing to both your own career development and to your organisation’s day-to-day operations and the achievement of its goals?

When your personal career objectives and those of the organisation you work for are aligned and mutually compatible, the chances are, you’re an engaged, committed and valued employee.  In other words, you’re adding value.

On the other hand, if either your career development needs or the needs of your employer aren’t being met, then one or both parties are losing out.  In the medium to long term, this just isn’t sustainable.  Unfortunately, it’s an all too common occurrence.

As professionals, we have two obligations, one of which is to ourselves.  It is to continue to develop our skills and competencies by challenging ourselves and growing professionally.  The other obligation is to our employer who needs engaged and committed employees who are working to the best of their ability.

Ask yourself the question; are you adding value?

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climbing-ladder

When you’re up to your neck in a workload that seems ever growing, juggling multiple tasks or running into deadlines, many important tasks can often be neglected or put on the back burner.  The cry of, “I’ll do it later”, relegates many tasks to a long wait in a potentially unending limbo.

However, there is one element of all our daily jobs that deserves to be taken out of limbo, dusted off and tackled afresh.  It’s one of the most important and ultimately rewarding tasks that any professional can and should do regularly.  That’s to take the time and effort to proactively manage our own careers.

Unfortunately, it’s one of those activities that all too often remain neglected until circumstances force us to act.  By then of course, timing and events may not be on our side.  However, a little consideration, fresh thinking and action at regular intervals can ensure you’re always on top of you career development and are ready to take opportunities or react to unforeseen changes as they come along.

When did you last take the time to consider what you want from your career and, critically, actually did something about it?  Asking yourself three simple questions (simple to ask that is, but requiring thought and personal reflection to answer) will help you on your way.

Firstly, where are you now?  What are your current levels of skills and competencies?  Is your job sufficiently challenging and rewarding?

Secondly, where do you want to be?  Not an easy question to answer! It encompasses a wide range of issues both personal and professional and deserves attention.  It also begs another question; if you don’t know where you’re going, how on earth will you ever get there?

Thirdly, what are the steps that will take to where you want to go?  These steps could involve short term considerations, such as writing your CV or longer term plans such as acquiring new skills and professional qualifications.

However you answer these questions, coming up with the right answers for you is one of the best investments you can make.

Remember, career development is not always about moving upwards through an organisation, it can also involve lateral and other less obvious moves so stay alert to these opportunities.  In addition, and importantly, use the resources around you to test your ideas and assumptions.  Career guidance and advice is readily available from specialist recruitment consultants who are experts in their industry and are at the front line of the ever changing relationship between employers and job seekers.  Their advice is free and impartial and you are equally free to accept or reject it.  But, either way, talking to an expert can only help.

Finally, most professionals have invested a huge amount of time and effort in their career; usually this is particularly true in the early stages when studying for qualifications and securing that first job.  A little self reflection at regular intervals throughout your career can help ensure you stay on track with your career and that it takes you where you want to go.

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The arrival of the new Sex And The City movie sees girls scrambling for the latest fashion accessories and 2010 summer looks. While you may fancy yourself as a bit of a Carrie Bradshaw in real life, be careful not to take this style literally when dressing for a job interview with a potential new employer…especially when it’s the job of your dreams.

Those 4 inch blue Manolo Blanik shoes may look the part but tripping over in front of your potential new boss could be the worst start and put you off for the rest of the interview.  That’s not to say you cant learn from any of the SATC girls.  Think a sharper, classier and more polished version…of YOURSELF and in the words of the SATC queen herself, Carrie Bradshaw, ‘Some labels are best left in the closet’.

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