UK
With 29,000 jobs expected to go from the City between the start of 2008 and the end of 2009, and a mere 2,000 expected to be added in 2010 (according to the CEBR), there are still a lot of experienced financial services professionals out of the market. Equally, with banks firing up graduate recruitment again, it’s possible they’re feeding the headcount pipeline from the bottom rather than rebuilding at the mid-level. So, how do you persuade someone to consider you for a job that you could do with your eyes closed?
1) Avoid recruiters like the plague
If you’re a VP applying for an associate level role, an associate who’s trying to become an analyst, or an equities salesman who wants to move into clearing and settlements, recruitment companies are totally frank about their inability to be of assistance.
“If you’re overqualified, then don’t even think about applying through us,” says the director of one recruitment firm. “Banks just won’t pay us to provide someone who’s not perfect for the role.”
2) Network like crazy
If you’re not going to go through a recruiter, you’ll need to adopt different tactics.
Michael Moran, chief executive of outplacement and career coaching firm Fairplace, says you’re most likely to get jobs you’re highly overqualified for as a result of networking.
“A member of your network will be able to position you for the role. They can point out that based on your CV you might appear overqualified, but they can also endorse you as being highly suited to that position,” says Moran.
3) Make a strong case why you want that particular job
If you’re applying for a job you could do while computing 1.8 to the power of 212, you’ll probably be viewed with suspicion by recruiters/line managers/HR people who’ll suspect that you’ll disappear and do something more suited to your skills the moment you get the opportunity.
If this is truly not so, you’ll need to describe in some detail why you’ll be happy doing a non-challenging job in perpetuity, or why you’re happy to start several rungs down and work your way up again.
“It’s all about making sure the employer knows your personal aspirations,” says Moran. “It may well be that you’re looking for that level of work because career security and work life balance are important to you. Alternatively, it might be that you’ve been to a higher level but this was the kind of work you really enjoyed, and you want to go back to that.”
4) Do not fire your CV off for lesser roles in the mistaken belief that your experience/qualifications will be valued
Allied to the point above, it’s not good sending out tens or hundreds of CVs in the mistaken belief that just because you could do a job, you’ll be hired.
“Some people have a tendency to send their CV out for anything that’s remotely similar to something they’ve done in the past,” says Jim Nairn, a director at recruitment firm Cornell Parternship. “We can rarely help them unless they’re an exact fit.”
5) Don’t lie
If you are honestly only looking to become a senior associate until an appropriate VP-level position comes up, or you’re moving into settlements for a very brief interlude, maybe you should say so.
“Tell the truth,” says the head of HR at one independent investment bank. “Recruiters might be quite happy to see you as an interim hire and someone who they’ll benefit from for a short amount of time.”
Promisingly, he adds that in the current market it’s not unheard of for his firm to recruit director-level hires into vice president level positions. However, he also says that he’s spotted a trend for the overqualified to downplay their qualifications, something he warns against: “If you have a university degree, an MBA and a vocational qualification and you only state the degree, CV checks will bring the rest up.”
6) Be intensely unthreatening
Finally, few bosses will want to hire someone better than they are when they could have an obsequious underling instead. If you’re going for an interview, it’s therefore up to you to clarify to your potential boss that you’re a totally non-threatening type who’s not after their job and could make them look very good in the eyes of their superiors. Professional dishevelment is a good look. Think brown shoes.
So, in this scenario, recruiters won’t put you forward, but you might get an interview through networking? This seems a little inconsistent to me (might still be true, though). In any case, isn’t overqualified just a euphemism for old?
How are you supposed to network when you are totally out of the loop, unemployed and have no contacts in your industry. I have been working in Tenerife for the past 16 years and, prior to that emigration, I was self employed in the motor trade. As I am in my late 50′s, all my contacts in the motor industry have either retired or moved on……….. I am finding recruitment agencies difficult – they “filter” your CV when you apply for a position so that your details do not even reach the potential employer. In my case, I feel my age is against me and, although I have over 20 years experience of computerized accounts, I have no formal qualifications. I am dynamic, enthusiastic, articulate, professional and totally committed to my job. BUT if I do not get to the interview stage, I cannot persuade the employer of my undoubted skills and experience. Anyone got any good, proven ideas?
I’d like to offer the most compelling argument for downsizing one’s title. it is almost a corollary or inverse proposition to the universal truth of the Peter Principle where one tends to rise to the level of one’s maximum incompetence..where the second derivative of productivity has irreversibly take place and all effort to maintain momentum is barely sufficient to survive. The realisation that you will accept a position as overqualifed as necessary where the license to maintain full control and responsibility is granted. From such a platform you see, you make your case upwards. Your choice of a fertile field should be the only limit to your growth.
@ tscs67
genius my good sir, absolute genius
There is nothing worse than getting to the end of an interview and being told you are too senior for the role. Last week I was interviewed for a particularly good 6 month contract, excellent day rate, good company, great offices, after an interview that lasted nearly 2 hours, I was told: “You are too senior for the role, given your experience I’m worried you will find the role too boring”. After 6 months out of work I would not find it boring! This is the fourth time in three months I’ve been told this and all of the roles I have gone for are similar to what I did before. When I recruited I took the best I could afford, even if I knew they would move on after 12/18 months. Any idea what I should do different?
tscs – hold back on the charlie.
Hello, I am Aakash S. Tambe an Indian. I have total experience of 13 yrs in Accounting, Finance & Taxation. I am post graduate with doing MBA in finance, Banking & securities. Basically i am interested to work in Industrial, Banking & finance companies. My speciality in Accounting & Indirest taxation.
In accounting i am looking after day to day accounting & upto finalisation of accounts, management of Audit & also expertise in Indirect Taxation ie. service Tax, VAT (Value Added Tax). I am very much popularty in taxation because presently i am succed in won the cases of Central Excise, Customs & Service Tax & won 3 cases & saved the large amount of the company along with interest & Penalty .
To be quite blunk the recruitment business model is ridiculous in my opinion. Most of them operate like monkeys matching job specs to a persons CV by literally seeing how many ‘similar phrases’ or ‘same keywords’ are on both pages. The one with the most is deemed the best for the job. There is absolutely no scope with recruiters if you want to change your career or basically do ANYTHING that you havent done before. By the very nature that they operate (matching your exisitng or past skills to a job spec) they leave no room for you to actually do something you have never done before or operate at a higher level and progress. Recruiters are fine for filling run of the mill data entry, admin jobs on a temp basis but anyone looking for a proper role is better trying to go to the company directly. Unfortunately thats not always an option..
Recruiters are those pple who couldnt get a proper job!!! They remind me of 2nd hand car salemans…..muppets!!…Hate them all!!!
How on earth do CV checks ascertain that you are hiding qualifications??
Understandably employers have the ability to verify qualifications, but I cant see them searching the worlds institutions to find qual’s you may or may not have hidden. Sounds like rubbish to me.
1.3 septendecillion or 1.3&54 = 1.8&212
If you thought you were too overqualified for the role why would you apply in the first place? Surely you do not have to wait to get this feedback at interview stage; employers can see your experience and skill set from your CV prior to interview so why do they still wish to interview you and give this feedback? Total waste of everybody’s time.
Potential employers hide behind the “too over qualified” statement. No such thing. This is used when they actually mean: too threatening or too much money.
msquire – its known as recruitment fodder. employers need to be seen to be interviewing a certain target number of people – so if a myopic, balding 75 year old comes in, they can at least tick the box as far as making up numbers are concerned.
as far as recruitment consultants are concerned, i think its been said a trillion times on this banterdome – forget them.
I am an experienced recruiter; 15 years experience in recruiting within financial and professional services. After a long a successful career in recruitment sales I decided to go on the other side of the fence and join an investment bank to manage their recruitment. 8 months on, good old Dick Fuld decides to screw things up with Lehmans and well the rest is history…along with my role. Now, agencies wont consider me becuase to them I am a ‘traitor’ who moved teams and inhouse recruitment is difficult because there are those out there with 10 times more experience than me. I have been so disappointed with agencies and find it amazing that not one has taken the time to speak with me about career opportunities. If there are no ‘key’ or ‘buzz’ words on my CV then forget it. I think maybe it’s time to set up my own agency and show these muppets how it’s done. People by people, relationships matter and a chat and a coffee can go along way.
Same story – Over-qualified and you can’t avoid that. If the employer doesn’t want you, they use that kind a phrase.
Jack – do it,
Good recruiters are few and far between, no attempt is made to establish any sort of rapport with their “customers”
I’m looking for something in industry and commerce and have had more success through my own contacts than numerous CV’s to agencies