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Our Take: A Second Job-Hunt Lesson

Dec 14 2007

Jon Jacobs

Where experience is concerned, more isn’t always better. Often it's worse.

That's one lesson I drew from my own extended search for new employment after being laid off by a boutique in 2006.

An employer who posts an opening calling for "three to five years experience" in a particular sub-specialty might be leery if an applicant has 12 years. In such cases, a candidate’s best bet is to state an experience figure high in the cover letter and resume summary that acknowledges the employer’s preferred range. The safest formulation might be, "More than five years in (fill in the blank)."

Never falsify employment dates. Just leave it to the recipient to tote up the years you worked at various jobs and check the sum against the number in your summary. During the initial stage of screening candidates, no employer is likely to do this. What they do look for carefully is any inconsistency between the resume and the requirements of the position. For a variety of reasons, appearing overqualified is at least as bad as being underqualified.

If an interviewer does ask why your summary states, "More than five years in Equity Research" when your employment history totals nine years, you can make an excuse like, "Since you're a bulge-bracket, I counted only my experience at bulge-bracket institutions." If the prospect likes the extra experience, you may get points for exceeding expectations. If he doesn't, you wouldn’t have been interviewed at all had you not tailored your summary.

Although perfectly logical, I don’t advise saying, "Oh, nine isn’t more than five? Silly me … it must be that New Math I keep hearing about!" No one likes being talked down to. And, never employ any tactic that overstates your experience. In that case, an employer very likely will complain, to the point of promptly showing you the door.

Extra Experience Can Spotlight Extra Age

Finally, remember that candidates older than 35 who trumpet their extra experience are needlessly spotlighting a further liability - their age. By the time my own job search ended, I was ready to scream if I heard one more person say, "Oh, that position's too junior for you," when it paid twice what I'd made in my last job. Clearly, those gatekeepers used the word "junior" in its conventional sense rather than its business meaning - and saw no need to hide the fact.

Discrimination based on race, gender and age is against the law in the U.S. But while financial institutions' online employment applications always say their concluding questions on race and gender are voluntary, you'll never see an employer or recruiter pretend it's "voluntary" to disclose your age when applying for a job. I've seen paper applications that request date of birth right at the top. Of course, a candidate might get by with simply skipping the question - just as you should leave blank any question a form asks about your current, past or required compensation level. But I've also seen online applications that make "college graduation date" a mandatory field. If you don't answer it, the process won't advance to the next screen. And recruiters say that when they forward resumes that lack graduation dates, clients often come back asking for that information.

Older candidates need to take special pains to define themselves in opposition to the cliché-ridden pabulum that often passes for insight into baby boomers' career goals. In fact, the words, "baby boomer" and "retirement" have become so fused in the public imagination, that even well-meaning retention programs buy into the stereotype that typical boomers are eagerly preparing to go out to pasture. In reality, employers who go down this path aren’t shooting themselves in the foot - they’re shooting themselves in the chest.

What's been your experience in landing a new job? Share your experiences by posting a comment below.

Comments (9)

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Comments (9)

  • How about this for a reason for taking a junior position:  you need a job in order to eat and pay mortgage/rent and that position fits your qualifications better than others.

    John H. 13 May 2009

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  • Yes, Neeraj, there are many valid reasons an intelligent person would be interested is such a position.  Perhaps he wants to change industries or wishes to avoid a relocation for his family.  Life can get complicated and not everyone who thinks differently than you do is stupid.  Lighten up.  When you have more experience yourself you will understand.  I get less arrogant as I gain experience, so will you.

    jimgggg 08 May 2009

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  • Okay, here's another reason for taking a junior (staff) position. It provides you with the company's benefits (i.e. health, 401k, and stock purchase program) that are usually better than what outsourced consultants get from their recruiter employers.  And before you call ANYONE an idiot, you should respect and keep an open mind to other people's situations (and not be so arrogant.)

    CD 23 Dec 2007

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  • Neeraj (the consultant from first comment) you're an idiot.

    Neeraj 2 21 Dec 2007

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  • "If you had 9 years of experience, why would you want a junior position that pays for 5 years' experience in the first place???"

    How about if the junior position pays double than your current one?! How is that for a reason?

    Bob 20 Dec 2007

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  • In many cases,the potential boss is about 50 years of age or older. So, to protect their own job security they hire someone younger who may be smarter and more tech savvy than themselves, but lack the "experience".  If they were to hire someone closer to their age (40'ish)with the same attributes and energy level of the younger candidate, their eventual exit from the company may come sooner rather than later.

    Gary 20 Dec 2007

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  • I've just surpassed the 40 mark and find myself at the worst point of unemployment in my life....and at the same time I am in my career prime....Why employers don't appreciate my value is beyond me??>  I've become an expert in finance and info-tech and offer alot of breadth of knowledge....And all the articles in the field says they cannot find enough qualified people, but yet they descriminate against my age?  Weird, isn't it...

    Bob Jones 19 Dec 2007

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  • Finance isn't a unionized field like school teaching. Beyond the three to five year range, addititional years of experience don't equate with additional pay, and employers very rarely specify more than 7 years' experience for any advertised opening. Even within investment banking departments, where titles and compensation on the lower rungs tend to be closely tied to years of experience, the "up-or-out" system means the connection breaks down by year 7 or earlier (i.e., for the majority of employees who'll never progress beyond vice president). And a large number of eFC readers tell us they're trying to move laterally - from back-office to front, from boutiques to a bulge-bracket, or from a bulge-bracket to hedge funds or PE. In those cases, "extra" experience in one's current area will almost always count against a candidate.  For instance, one hedge fund recruiter I know often says she won't look at a candidate who's trying to move over from the sell-side, if they've spent more than 2 or 3 years as a sell-side analyst.

    Jon Jacobs 19 Dec 2007

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  • If you had 9 years of experience, why would you want a junior position that pays for 5 years' experience in the first place???

    Neeraj 15 Dec 2007

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