This weekend I met up with a friend who is also in investment management and seeking work. A really smart guy. So, we were talking about the job market over a few beers and I was surprised when he said that during his job search he has been on a total of 24 interviews since the end of 2007 and only received 2 offers (both were junior levels and did not fit his comp needs). And he has not had an offer in the last 8 interviews? I asked him how this could be. He jokingly replied that the talent pool is overflowing with MBAs/CFAs that have been employed with the big name firms. I am also seeking work, but that conversation worried me a bit. Is this what others are experiencing? What would you say a reasonable interview to offer ratio is in this market? I just finished 3 last week. (By the way, my friend is an MBA grad from good school, really sharp and has just under 10 years of experience not doing his CFA, so that’s why I posted this here).
I think topher can give you the scoop on this one.
Hey QJMBA, I also saw that thread and it did not provide any solid answers. Besides, that thread was before the market crash?
Simple math dictates that if on average a firm decides to interview 20 people for 1 position, then the ratio is 20:1.
You’re right. I just recall it and thought it may be of value.
I believe in the 10:1 rule. For every 10 jobs you apply, you will get 1 interview. For every 10 interviews you get, you will receive one offer. Hence, 100 applications---->10 interviews ----> 1 offer.
Wouldn’t that be the 100:1 rule then?
Mason88 Wrote: ------------------------------------------------------- > This weekend I met up with a friend who is also in > investment management and seeking work. A really > smart guy. So, we were talking about … In what way is your friend smart? Sometimes it is better to simply be “good enough” and that other people will like you and find you nice to be with. I don’t think you should worry too much about your friend’s success rate (or lack thereof). When you apply for a job, you might have a completely different search strategy, and the fact that you’re not “really sharp”, but probably just “moderately sharp” (like most people who read these boards) will help you come across as someone an employer will want to have on their team as opposed to being an obscure outlier admittedly very intelligent and all that but (possibly) being far too self-important to accept (or apply for) jobs that are in fact available. Rmember that people don’t hire a guy just because he’s an alleged genious, they hire people they like and feel sympathetic about.
JohnThainsLimoDriver Wrote: ------------------------------------------------------- > Wouldn’t that be the 100:1 rule then? i think it’d be more like the 10^2:1 rule.
MehdiOchre Wrote: ------------------------------------------------------- >…When you > apply for a job, you might have a completely > different search strategy, and the fact that > you’re not “really sharp”, but probably just > “moderately sharp” (like most people who read > these boards) will help you come across as someone > an employer will want to have on their team as > opposed to being an obscure outlier admittedly > very intelligent and all that but (possibly) being > far too self-important to accept (or apply for) > jobs that are in fact available. Rmember that > people don’t hire a guy just because he’s an > alleged genious, they hire people they like and > feel sympathetic about. I do consider myself a sharp person. I tend to score high on appitude tests, and I went to the right schools. I thought I would share this situtation with the board to get some feedback. Although you make some good points, I do not believe that employers hire people they “feel sympathetic about”? Why would they?
They hire people they like. This is why I bring a batch of homemade cupcakes to every interview I get.
Yup 100:1 or 200:1 are “reasonable” figures. I feel the MBA calling me.
who cares? worry about yourself
kcin Wrote: ------------------------------------------------------- > They hire people they like. This is why I bring a > batch of homemade cupcakes to every interview I > get. Do you threaten to take the cupcakes back home if they don’t give you the offer on the spot? That tactic works for me in cementing the deal.
I give them a little taste, then threaten to take them once they are hooked.
kcin Wrote: ------------------------------------------------------- > I give them a little taste, then threaten to take > them once they are hooked. Once they are hooked? Do you sprinkle crack on the cup cakes?
Soooooo, why are we talking about cup cakes and crack?
Maybe the glossary is not the right one, “sympathetic”, I’m not all that fluent in English you see (just fluent enough to have passed the Level I). What I meant is that they hire you if they like you and think you can do the job for them. If you’re a really sharp person all the better for you, it might simplify things, but then again - - - it might not. If you’re too sharp (like scoring above 135 on some IQ test) well, then quite frankly that might also mean your aptitude tests could come out all skewed and the people doing the hiring generally don’t like that. In general I don’t think firms like to hire extreme outliers, why would they? There is a risk in hiring outliers, either they’re too smart or too dumb. It could mean you’re a bit i-m-b-a-l-a-n-c-e-d. Not saying you are, but think about it: someone with an IQ of 140 or 150 is not necessarily someone you’d want to spend your time with. These smart guys could in retrospect turn out to be rather a handful: they soon get bored or annoyed with the mundane parts of the job they’re hired to do, they might threaten to take on the managers job soon enough (and where would that leave him/her), or simply resign in anger and leave when you’d least want it. At least that’s a non-negligible risk that a recruiter or hiring manager might not want to take… Otherwise I believe your best strategy to your next job is to network, network, network. Do all that stuff that is mentioned in books like “What colour is my parachute” and all that. Damn, I just gave my whereabouts away again.
maybe i got lucky… or i perfectly fit what they were looking for. one interview = one offer. blew me away actually. i start Monday after the exam!