AU
I shouldn’t be here! How in five weeks did I go from a handshake congratulating me on obtaining my new role to filing for unemployment? I pondered this meekly as I sat in Centrelink.
I’ve been in Melbourne for three months, after moving here to find a better opportunity. In early February I thought I had got that opportunity. After undertaking a methodical approach to job hunting this year – meeting several recruiters and having several interviews – I was offered a position supporting the front office at a Big Four bank. I got the job through a well respected recruitment company.
After a firm handshake and congratulations, I was told to prepare my references because all successful candidates undergo an extensive background check, carried out by a third party.
I promptly followed up my referees and had everything submitted the following day. There was supposedly urgency from the hiring manager to start as soon as possible, but I had worked overseas so my check was expected to take a bit longer.
After a week I began contacting the recruiter regularly. There was a delay because my police check was ‘under further investigation’, but the recruiter said this was not a concern. I also called the third-party provider directly and was told the “delay” was normal and checks could take up to 33 days.
More delays
I occupied my time by studying for my upcoming CFA exam. After four frustratingly long weeks and continuous follow ups, I was finally informed that my police clearance had returned and had been sent to the hiring manager. I called the recruiter immediately, expecting my start date to be confirmed.
During the fifth week alarm bells started ringing. The recruiter told me the manager was not returning emails or calls, but that it was normal and to be patient. I questioned whether I should contact the bank directly. After another four days I called around to obtain the hiring manager’s details and sent an email querying my start date.
You cannot be serious
Another torturous weekend passed and I awoke last Monday to read: “I regret to inform you…decided to go with another candidate with greater experience…informed the recruiter of this several weeks ago.” Unfortunately the recruiter hadn’t received this message, so it hadn’t been passed onto him (or me).
My heart sunk. I had invested so much nervous energy for nothing! To matter matters worse, after accepting this so-called offer, I had interviews at other banks lined up via different agencies, but politely declined them to avoid burning bridges with those who made be the offer.
So for my loyalty to the position and agency, I received in return: five weeks of potential lost income; lost job-search time; mountains of stress; and I had bothered my referees unnecessarily.
Rising from the ashes
So I now find myself back at the drawing board after a week of cursing my bad luck. However, that’s irrelevant at the moment: the most important step now is determining how I can help myself to employment.
My options to find the ideal position have narrowed, which has forced me to take that first uncomfortable step: filing for unemployment. Not what I wanted or expected, but a start after a setback. Eventually your luck has to turn, right?
Is there a lesson I can take from all this? Hopefully with time I’ll have a different perspective. In the meantime, I’ll stay optimistic. Job hunting is hard work and sometimes when you fail it’s out of your control.
So to ‘Job Hunt 2.0.’ Anybody who’s watched Entourage knows the character Johnny Drama. You may have seen the moment of clarity that Drama has after a panic attack when he has to audition for the billionth time for another TV pilot: “It’s not about whether I want to audition or not, I have to. So let’s just do this. I’m ready!”
Recruiters = Cowboys. The recruiter was definately not on the ball if he let several weeks pass without quering the hiring manager as to the delay. Hasn’t been that bad for me but they are notorious for stringing candidates along for weeks at a time.
Good luck with your luck turning. It’s hit the 12 month mark of searching for me!
How similar can life be for two people….isn’t that strange….!!!!!
I am an individual from India who came to do the Masters of Applied programme with the hopes to get a good banking job once i finish……
It took me some time to get my work permit arranged so i decided to pursue my C.F.A.
Once the work permit was in place i decided to actively look for jobs only to get rejections and rejections and rejections. All i can say is that Australia is a closed market as all they (recruiters) want is very specific experience in the local market.
My only question to recruiters is that until i don’t get an opportunity how do i get that experience?????????
Dint you guys pass out of uni ever…….hoping to use that knowledge in the real world. You sit in that seat trading human capital because someone gave you an opportunity to do so.
I arrived in London last year in late March after resigning from my position in Melbourne. As you can imagine, I arrived at the worst possible time in recent history but was still quietly confident of landing a position at one of the investment banks. After having 2 interviews and receiving 2 offers, I accepted the role I thought would be most beneficial for my career going forward. After several weeks waiting to hear my start date, I find out from the recruiter that the employer has pulled the role as it didn’t go through the appropriate channels internally and receive sign-off. This was after I had declined several other interviews with major banks (and remember, this was literally when there were announcements each week that another few thousand employees had been made redundant at all of the major financial institutions).
After another week or two waiting for the opportunity for an interview, I was offered and accepted a role at another investment bank. So everything worked out in the end. All the best to you Junior Job Hunter! Remain positive – something will come up eventually… after all, it can’t be any worse than London!
Know the feeling Comrade. Recruiter indicated the jobs was all but mine on a Wednesday, only to be told “a more experienced candidate” the following Monday. Good luck.
The recruiter got the job for someone else, or the employer chose someone from another agency and the recruiter didn’t tell you on purpose, so to hold on to you should another suitable job come along – he had already spent agency time with you with interviews. They want the commission and care less than zero about candidates. They are in communication with the employers daily. They know what’s going on. But they will do whatever they can for the money. This happens quite a lot in Australia.
The large majority of recruiters are just distributor of CV: I was employed by several multinational companies and banks, thorugh agencies, and the only contact I had with the recruiter was just a telephone call.
So my suggestion is forget to be loyal to a recrutiment agency as they will be loyal to you as long as they think they can sell you in the short term.
Good luck
Unfortunately in this so called LUCKY Country, this has become more or less the convention for the recruiting Agents, who at the end of the day do not give more service then an ordinary broker and we the jobseekers get the worst possible treatment( with high cut on the Rates) from them and often also from the recruiting company.
All best JJJ!
I was made redundant too recently and it seems like a long, hard road to recovery.
I was told to try:
1. Networking (linkedin, social networks, in person)
2. get a personal business card printed and hand out to people if you meet them on networking events.
3. Also, one of the main things is to prepare a congent answer without any negativity to uncomfortable questions ( why were you re-trenched/jobless? Why did you not attain this or that qualification? etc) .
4. Recruiters look for answers to three questions:
a. Can you do the job? (abiliteis, competencies)
b. Will you do the job? (attitude, soft skills)
c. Will you fit in with the others in the company doing this job?
(organisation culture and our fit in it)
I’m sorry to hear that.
Just remember, to recruitment agents, we are just commodities. If we’re not the type that can earn them $ right away, they don’t want to know you – despite all their smiles and handshakes
Can anyone tell me what they think the job market is like at the moment?
I keep hearing that it’s turning up and there’s a shortage of talent etc… but I don’t really have any headhunters calling me like I used to during the boom, and the roles some agents talk about are more junior or rather low paying…
What’s been your experience???
Feel your pain Junior Job Hunter, and can really sympathise with most of the other comments here. It’s been 9 months out of work for me, and I think prospects for equity research are pretty slim in Melbourne. Very much agree with the comments posted re sector snobbery and the ‘closed shop’ nature of employment here. After doing a commerce degree, FINSIA and now leading up to my Level II CFA exam I’m starting to ask myself what for? Starting to feel I should have finished off my engineering degree all those years ago. Might have been better off doing a ‘real’ degree, where you can actually contribute something tangible to society rather than just shuffling money around and poring over window dressed balance sheets and highly subjective asset valuations. Agree with the comments regarding recruiters too; a few good ones out there but most are just pimps in suits. You’re the flavour of the week, and then you don’t hear a word. Two weeks ago I sent 5-6 email queries off; one to Canada, two to HK, and two locally. Within two business days I had responses from all the international ones. I never heard back regarding the Aussie queries. Severe lack of professionalism here.
Just been through the same routine with a recruiting agency, my ‘knock back’ was ‘you’re from a wealth management background’ the role? for one of the big four, job was to transition customers from one platform to another, a very processed driven ‘process’ how can my ‘wealth management’ background be a negative working for a bank? and the slow response is heartbreaking, was strung along for weeks too.
As a recruiter I am saddened but not overly surprised by the bashing of our industry. A couple of tips for candidates. Firstly don’t cut off any option until you receive a contract, keep interviewing. Secondly, at least have a conversation with the recruiter before you send the CV. I will not represent a candidate before meeting them face to face and I would say if a recruiter wants to send your CV without meeting you it should set off alarm bells. Make sure the firm has a mandate for the role and are not simply posting a role that appears on a firms job board. Finally if your selecting a recruitment agency to market you, ask around for positive experiences and find a firm that specialises in your field. They should know the main players and be able to demonstrate a good understanding of your skill set or your probably better going direct.
Beware of Headhunters/recruiters period. Know you need to have several of them working for you and then obtain as many interviews as possible and then interview right up to your probation period ending of a job you may have been lucky to secure. You truly dont have a position until then as headhunters/recruiters and HR just dont care one iota about you and nor should you about them until that probation ends. Just collect as many offers as possible. Its networking anyway. Finding a job is a war and you need some strategy. HR is a joke. . Recruiters should never be trusted. They are all human traffickers for godsake !!
your only loyalty is to self
I recently had this happen to me – my only saving grace was that I refused to give up my current role before I had confimation I am so glad that I did this as I didn’t hear anything for about 4 weeks by then I knew the answer…… and by the way this was with one of the big4 banks not an agency.
Feel sorry for your experience but at least you’ve learnt your lesson to
a) keep all offers live until you have signed a contract of employment
b) let any recruiter you are speaking to know about condition a and
c) you only really have an offer of employment once you have a formal letter of offer on bank letterhead signed.
An unscrupulous recruiter may just tell you what you want to hear in respect of a job offer in order to give themselves a free option on your candidacy. Good luck mate. market has turned so you’ll be right next time.
I completed a Graduate Diploma of Applied Finance at Kaplan/FINSIA last year as a means to break into equity research. My plans to change my career path haven’t come to fruitition for all the reasons mentioned above. I come from a Media background and was looking to use my industry knowledge as the point of difference to other candidates. As much as I despise recruiter practises, I think you’ll find that it is tough for them too because job hunters are in oversupply and vacancies are undersupplied. I believe the only way to cut through the prevalent electronic screening is to do the hard stuff. Call recruiters, cold call companies you want to work for and network as hard as you can. As some have already mentioned, always follow through with all interviews regardless of any job offers. I know people who started work in one role then landed the job they really wanted and left a week later. This is a bit selfish but that is business and employers get over it. Don’t give up, I won’t!
sorry to hear. but don’t be so polite next time. remember, an offer is only an offer once you receive it in writing. until then, continue to interview hard until an offer is received….
Hi there,
I meet the same situation. I think my situation seems worse than everyone.
I am a young girl from China with few years experience in equity market. I was offered a role with big 4 (temp) though a reputable recruitment agent. I was told to start immediately (that was on Thursday), Then next day, I was told to be starting on Next Monday. The following days (That was Monday early morning), I was told the role was on hold. Until now, I am unemployment.
The worst situation is I leave my previous employer on that Thursday which I got offer. I spent most of my money though credit card on rentals, business clothes and some food. I do not have any income at this stage. I got stacked! I feel really sad and upset inside. I am not Permanent Australian or Citizen either. I can not get any financial help from Centerlink at this time
The best way is to go to Kings Cross Club to make some quick money. I am really thinking like this! God Bless Me.
Hi Cutejuan1983. I am from China too. We have the same situation. Can we exchange our stories? I don’t know how to talk to you through this web site? You have any ideas on this?
I have just been talking to some folks from London, heading to Melbourne to find work as there was nothing left there. Looks like theres even more people going to Melbs to look for work and it sounds as though theres not much there to go on with.
My advice: follow the ideas of Cutejuan1983 and look for lucrative part time, high income work at the Kings Cross Club…
Hi dounadouna,
I am cutejuan1983. I am still out of job market. It is so hard to get a finance job in Australia. Here the market is quite closed. It is not as stated as open in China. Hi dounadouna, which firms did you work for? I worked for China Dargon Securities Limited as Investment Consultant.
I sent my CV everywhere for temp roles. I was told by friends that there is not much restrictions on Visa if you work as a temp. However, we have to check it out to ensure everything is right.
I start to apply for jobs in telemarketing in quite small firms. Also, I start to apply Night club job in Kings Cross as waiter. See how’s everything going. I felt sooooooooo regrate to come to Aus, but I have already get on the board!!!
please email me to Lee37213721@gmail.com if you like to do so.
A mnitue saved is a minute earned, and this saved hours!