Lining
up the right jobs is not
an easy task. It is important
to take the appropriate
time to decide on the industry
you want to work in, the
type of job you want to
start out with and identify
the companies you want to
apply at. If you don’t take
the time, you most likely
will end up wasting countless
hours on diverse applications
and you will have a higher
risk of failing to secure
the most suitable position
for you..
There
are four major rules to
keep in mind when you
engage in the process
of lining up the right
jobs”
- Plan
well ahead – start
at least 12 months in
advance
- Focus
your efforts
- Specify beforehand
what, where and for
whom you want to work
for after your studies
- Apply
at numerous companies
and in numerous countries
- this will increase
your chances of finding
the right job
- Talk
to friends
- tap into the “hidden”
job market effectively
The
best possible scenario
which you can work for
is to have three or four
serious job offers from
companies of your preference
before you actually graduate.
In order to achieve this,
you have to start planning
and executing on your
job strategy well in advance.
Based on my personal experience,
this would be at least
12 months ahead of your
graduation:
Reason
number one is that there
are a lot of great graduate
programs which have one
to two intakes per financial
calendar year only. Make
sure you research those
programs and be part of
them. Those programs often
give you an opportunity
to fast-track your career
start significantly and
gain additional points
compared to your peers.
The
second reason is that
it takes some companies
months before they look
through your application.
I remember replies from
some companies, which
I couldn’t even remember
applying for in the first
place – they would send
an answer with interest
even 6 months later.
Finally,
the overall application
process from your application
to a successful job offer
can take several months
– it takes time to arrange
for a mutual free time
slot, potentially several
interviews, testing rounds
and so on. There is only
few companies which are
as efficient as, for example,
McKinsey & Co. who
in many instances offer
a one day interview process
(12 hours!) which ends
with a written job offer,
ready to be signed. By
the way, if you do get
a job offer, take it away
with you, don’t sign it
on the spot. You want
to collect a few of those,
and make your decision
in peace at home, potentially
once more discussing it
with friends, family and
a mentor figure of yours.
Hopefully
you have gained some kind
of job experience before
you start applying for
your first real job straight
after your university
graduation. This will
help you tremendously
in the selection process
of the “right job”. The
secret is to be very focused
when applying for jobs;
it is the only that way
you can be effective.
I
believe the first thing
you need to identify is
the correct industry –
use your previous working
experience to select the
right one, or talk to
people about what they
like and dislike about
their respective industries.
Research industry growth
rates, future outlooks
and major trend developments
when trying to select
the right industry. People/
Coworkers/ etc. are usually
happier in an industry
that experiences growth
which directly affects
your satisfaction about
a job.
Secondly
be precise about the type
of job you want to start
with. In order identify
the right role for you
need to do your homework.
Again, if you have previous
job experience, this will
help you a lot. Try to
narrow the field by firstly
looking at the department
you would like to work
in, i.e. in the finance
department, sales, marketing,
human resources, research
& development etc.
Once you are clear on
the department, have a
look at job descriptions,
job testimonials, etc.
to identify the right
role for you.
Thirdly
decide on the target market
and the location which
you would prefer to work
in. Take into account
local tax, living costs,
expected working hours,
weather, and any other
criteria that might be
of importance to you.
Make sure you get a good
overview of those things
as they significantly
influence your net earnings.
For example, living in
London and earning 20000
Pounds (30000 would be
an amazing graduate salary
in London – very high.
Only the big banks pay
that) a year might initially
look attractive for an
graduate, but don’t be
fooled! Have a detailed
look at the income tax
rate, health insurance
costs, public transportation
costs, renting costs,
living costs you (including
food and car expenses),
travel costs to go back
home, annually paid leave
amount, etc. You quickly
realise that earning 30000
Pounds in London might
not be such an attractive
offer comparing to other
cities, in other countries
with significantly lower
living cost (i.e. check
out the Big Mac Index),
tax rates, etc. You need
to get down to the bottom
and compare your bottom-line
net earnings compared
to the local living costs.
You can take non-quantitative
measures to complement
your analysis – for example
check out research such
as the Peoples’ Happiness
Index.
For
further reading check
out the following research:
- The
2007 Big Mac Index
- UBS
Report of over 70 cities
comparing living costs
and earnings
- People
Happiness Index
Okay,
now that you have identified
the industry, the department
and the job role and the
location you want to work
in, it’s time to select
potential employers. For
this, again, there is
a lot of research already
done for you to grasp.
Look at employer rankings,
brand value, employee
retention rates, etc.
Have a look at www.vault.com,
www.universumglobal.com,
Hewitt's
Best Employer Ranking,
and other similar resources
– there is a sheer abundance
of information available
on the internet.
Lastly,
try to increase your chances
of getting a job by applying
for numerous employers
simultaneously. Probability
dictates that you increase
your chances of getting
a good job with the number
of times you apply for
jobs. Remember that if
you get more offers for
a job, you can leverage
the bargaining chip and
potentially negotiate
for a better starting
salary or other fringe
benefits (i.e. relocation
package, a better notebook,
a higher bonus, an accelerated
promotion, a signing bonus,
etc.).
Whenever
you apply for a job, keep
in mind that there is
both cost and time involved
with any interview you
might go to. Don’t apply
for the wrong jobs, in
order to not waste your
time. Also, some countries
have different rules.
For instance, in Germany
it is unlawful not to
get reimbursed for your
travel costs. Always make
sure you clarify if travel
cost to an interview is
reimbursed. Some companies
even pay you for flights
and hotels to get to the
interview. Try to have
the potential employer
arrange for travel and
accommodation.
Lastly,
I want to take a note
that there is a tremendous
“hidden” job market out
there. Network as much
as you can throughout
your studies. Who knows
what opportunity might
crystallise when you least
expect it. Tap into those
networks of friends that
already work and have
access to job openings
that are not advertised.
If my memory serves me
well, less than 10% of
all job openings get advertised.
This offers you an additional
huge opportunity compared
to advertised job listings.