Are you applying for jobs and getting nowhere? Are you uploading your CV to bank’s careers websites and receiving no response? Are you frustrated? Maybe it’s not you: maybe it’s the fault of the application tracking systems which sift through your CV.
According the Wall Street Journal, CV screening software has made employers unhealthily fussy about who they’ll hire. Faced with thousands of applications, they’ve set the parameters for recruitment incredibly tightly – so tightly that almost no one can satisfy them. It’s known as, “looking for a unicorn,” according to one recruiter, who cites an organisation that received 25,000 applications for a standard role and was still insistent that none of them was appropriately qualified.
Booz Allen Hamilton fills 30% of open positions with internal hires-up from 10% two years earlier. (WSJ)
“We need to talk about the huge risks banks are running with their IT operations,” said a banking IT software salesman with an easy laugh. (Guardian)
JPMorgan is moving the special investments group from its CIO into its corporate bank after Matt Zames decided the CIO must focus on basic asset liability management. JPMorgan’s share price has fallen 19% since the CIO loss was revealed. (Financial Times)
The idea that “between 300,000 and 400,000 French citizens live in the British capital” is just plain laughable. (Fistfulofeuros)
RBS reiterates threat to move its HQ to England if Scotland becomes independent, with the possible loss of 14,000 jobs in Scotland. (The Times)
Morgan Stanley’s 39 year old technology analyst lowered his predictions for Facebook shortly before the IPO. He lives in a $1.6m house in New Jersey and takes the bus every day. (Reuters)
Citigroup is launching yuan denominated accounts in the UK, in possible preparation for the country becoming an offshore yuan trading centre. (WSJ)
Bankers at Canaccord Genuity Hawkpoint have hired a butler. (Telegraph)