(Adapted from a Mar 2017 letter to Lisa Wang… )Let me share my observations and reflections on this tough job hunt. Another stock-taking. Focus here is non-finance jobs in the U.S.
For months I used a slightly tweaked CV for non-banking (“main street”) tech positions, but it’s not working — Out of the 30 to 40 non-finance positions I applied, precious few (15%??) recruiters were interested. Suppose 5 recruiters showed interest, I guess not all of them submitted my resume. Suppose 4 did submit. So far, no hiring manager was impressed with my non-finance CV. (Response from financial firms are better but not my focus today.)
So different from my prime time (from 2010 to 2012) when my finance-oriented resume was selling like a hot cake. I would estimate more than 50% of the recruiters were impressed and many hiring managers showed interest.
Of course, I’m comparing my “main street” resume against my Wall-St resume. Not a fair comparison but it does highlight these key issues:
Recruiter engagement is the #1 issue and hiring manager engagement is #2 issue. Interview competence is a distant #3 and not a key issue. Many people disagree — “you need no more than one successful interview.” They believe a 50-80% interview success rate is the silver bullet needed. Well, how long must you wait before you fire your silver bullet?
I feel much better if my interview pass rate is only 20% (or 10%), but I get 5 times more interviews! I learned from experience that my interview performance improvement is limited without sufficient interviews. So it’s far more effective and strategic to work on getting more interviews. I don’t want to be one of those guys who need 6 months to find a job. I see them starved of oxygen. Steady flow of interviews keep me motivated and focused, too.
In conclusion the key issue is crafting a compelling resume to engage recruiters and hiring managers. (A more pressing issue on main-street front than on the Wall-st front.)
Therefore, I count each interview scheduled as a success. In contrast, an offer is less significant an achievement. Analogies:
* as a singer, each TV appearance is a success; Winning a singing contest is less significant.
* as a growing basketballer, each time I get to play on court is a success; winning a game is less significant.
I have always told my peers that 90% of the job candidate competition is on the resume, and 10% on interviews. (Now I feel 95%/5%) Many candidates can pass interviews if given the chance. The chance is given to winning resumes. I say this to my friends because I learned from experience to invest much more effort improving the resume, until it can impress a large percentage of recruiters and hiring managers.
For the “main street” positions, I hope to engage 33% of the recruiters and 10% of the hiring managers. With that, if I were to try 30 opportunities, I could expect to get 3 interviews!