Last week we published an article entitled 'Don't worry, jobseekers - a recruiter speaks". In it, Philip Marks, Managing Director of Huntress Finance, offered advice on how to find a new job in the current economic climate. Here's some of the comments we received:
All good advice I can see, but I'm in a very difficult situation. After three months of not working I have had to take a very junior local job (and huge pay cut) just to pay the mortgage.
Now that I am working again, I am desperate to get back on track career and exam wise. Apart from still looking constantly for that better job rather than concentrate on the fact that I think my present job will turn permanent, it is very difficult to know where to turn next to get back on track.
Any ideas out there?
Jackie
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The worst suffering candidates are, unsurprisingly, those who have emerged from Construction companies and/or Financial Services. Having enjoyed above market rate salaries, bonuses and benefits, it is these candidates who need to "wake up fast". You may have been on £100k plus a car, plus a contributory pension, but that is well above the market rate. Further, by saying you'll consider a 10-15% drop "so long as I get a car" still doesn't cut the mustard.
To truly get the best paid job for you, and to get one quickly, ask a recruiter what they think your expectations should be and accept that it will be a bitter pill to swallow. The best paid job however is going to be considerably lower than the one you want in many cases. This is the only way you are going to secure a permanent job because there are a lot of you out there, and the high volume of candidates, coupled with the low volume of jobs (at the senior level) means that it is a buyer's market (excuse the pun) or in other words, clients can rein in a candidate's expectations.
I cover the North of England, and I must say, that for every £40-50k FC/FD job I get on at the moment, there is an ever expanding number of "recently redundant" FC/FD type people all wanting salaries which are a minum of £50k plus benefits, and the expectation for benefits has to put the package closer to £60k... This is just not going to happen at the moment, certainly when I have candidates saying things like "my ideal job is a number 1 or 2 in an SME type business" which is the "classic" line I hear from many candidates.
Accept that the top end you can get (excluding big companies - which aren't really recruiting at the FC/FD level) is a £50k combined total package, then you will have plenty of opportunities put in front of you and typically, once you have proven your worth, you can get the big bonuses and bigger packages you want.
Phil
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What doesn't help candidates at all, especially the ones who have emerged from roles/companies that have enjoyed the "boom" period and therefore, had high salaries, bonus and benefits, is when they are at interview stage.
Typically, a Finance Director/Controller level candidate will be told by an agency that the top end salary is say £50k, plus a few benefits.
What I find with such candidates is that, when you explain the salary to them in the interview prep, and if you can secure interest from a candidate to get put forward, and indeed if they do go to an interview, they fall at the first hurdle for a couple of reasons:
1) The salary is £50k, so when asked by the interviewer what your expectations are, it does not help you when you say, "in my last job I was on £65k, plus a car plus a 20% bonus" - if the job is £50k, then you have to express a desire in the salary at that level.
2) Don't express too much emphasis on having guarantees for bonus/benefits and year 1 rewards - accept that the market is tight. It is very frustrating when a candidate spends too long asking about the year 2 salary/bonus. I get candidates all the time saying things like "I'll look at it if it's paying £60k in year 1, but in year 2, will I then be able to expect a car, a £20k uplift on salary and a 20% bonus?" All you are basically saying is that the offered salary package is too low again.
3) "Ideally I am looking for a number 1 spot in an SME type business" - anyone with over 10 years' experience wants this job. There are hundreds of candidates out there that want this job and to be fair, you are all good for that job. However, with so much choice for clients at the moment, you have to accept that you may not be the ideal candidate, and (as you know from when you were in the recruiting position) clients rarely give feedback at the CV sending stage.
4) When a consultant sends your CV to a job that you think you are good for, if they come back to you and say that you were not successful, don't get the huff. You weren't as strong as other candidates, deal with it. When a consultant tries to tell you why you weren't successful, don't then try and re-sell yourself to the consultant because in all honesty, we don't disagree with you, but we are not the decision makers.
5) Use the time that you are unemployed to get qualified, especially if you are qualified by experience. The biggest volume of candidates out there are QBE, over 45 years old, and all wanting the number 1 or 2 spot in an SME. So are you qualified? If not, then spend the time getting qualified. It will help, especially if you are mainstream in your experience. Whilst you have the time, use it. Don't get bitter when people tell you that a professional qualification is needed. You may be better than a Qual, but given the market, people are looking for reasons to reject candidates, so a lack of Qual is a big rejection factor.
Gareth in the North
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Sir
I have trying for a job by very long period in UK you will not believe this approximate 10 years but not gain because alway meet with a fraud person who want to earn money by cheat.
i join this group after think that parhaps this group can help me to achieve a job in UK.
I wonder when i aplly for a job then i recieved a back reply that if you have not lawful permit to work you cannot apply this job and when i try for Work Permit then i received a massage that please take a confirmed job before apply Work Permit.
What is true between the both.
Can you help me to take a job with Work Permit.
in my Last mail to Nicola that if you unable to help me for Visa, then she can help me by send me a groginal and true Invitaion of Meet Up.
after that my headache to apply for Visa.
Thanks
Posted by: Munish | November 19, 2008 at 12:06 PM
Sir
I have trying for a job by very long period in UK you will not believe this approximate 10 years but not gain because alway meet with a fraud person who want to earn money by cheat.
i join this group after think that parhaps this group can help me to achieve a job in UK.
I wonder when i aplly for a job then i recieved a back reply that if you have not lawful permit to work you cannot apply this job and when i try for Work Permit then i received a massage that please take a confirmed job before apply Work Permit.
What is true between the both.
Can you help me to take a job with Work Permit.
in my Last mail to Nicola that if you unable to help me for Visa, then she can help me by send me a groginal and true Invitaion of Meet Up.
after that my headache to apply for Visa.
Thanks
Posted by: Munish | November 19, 2008 at 12:06 PM