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Articles on this Page
- 11/08/12--14:21: _The 8 Cardinal Rule...
- 11/12/12--06:30: _5 Rules For Getting...
- 11/16/12--12:35: _13 New Ways To Make...
- 11/19/12--08:06: _Law Schools Are Fin...
- 11/19/12--11:38: _BODY LANGUAGE: How ...
- 11/27/12--12:23: _How The Costco CEO'...
- 11/28/12--07:34: _This Sad Email Show...
- 11/30/12--14:22: _LinkedIn CEO Jeff W...
- 12/04/12--08:26: _Please Stop Using T...
- 12/05/12--07:20: _Psychologial Facts ...
- 12/13/12--09:05: _There's A 'Panic Re...
- 12/14/12--09:23: _Four Reasons Going ...
- 12/15/12--05:30: _MBA Or CFA — Here's...
- 12/18/12--08:53: _How Job Seekers Can...
- 12/20/12--12:04: _5 Attributes Of A G...
- 01/04/13--08:10: _New Data Reveals Th...
- 01/06/13--09:49: _Hire Athletes, But ...
- 01/08/13--05:53: _Law Firm Partners C...
- 01/09/13--06:05: _Law Student Slams R...
- 01/11/13--13:04: _INSTANT MBA: You Ne...
- 11/08/12--14:21: The 8 Cardinal Rules For Working With A Headhunter
- 11/16/12--12:35: 13 New Ways To Make Your LinkedIn Profile Irresistible (LNKD)
- 11/19/12--08:06: Law Schools Are Finally Coming To Terms With The Crappy Job Market
- 11/27/12--12:23: How The Costco CEO's College Job Turned Into His Big Break
- 11/30/12--14:22: LinkedIn CEO Jeff Weiner's Two-Part Recipe For Success
- Extensive Experience
- Track Record
- Problem Solving
- Experimental (a buzzword in Brazil)
- Multinational (a buzzword in Egypt and Indonesia)
- Specialized (a buzzword in Spain)
- Communication skills
- 12/05/12--07:20: Psychologial Facts You Should Know About Finding The Perfect Job
- Home health aides
- Police officers
- Clear goals that, while challenging, are still attainable.
- Immediate feedback.
- Knowing that the task is doable; a balance between personal skill level and the challenge presented.
- Strong concentration and focused attention.
- The activity is intrinsically rewarding.
- 12/15/12--05:30: MBA Or CFA — Here's How You Decide
- 12/18/12--08:53: How Job Seekers Can Boost Their Productivity
- 12/20/12--12:04: 5 Attributes Of A Great HR Department
- People get paid on time. Anybody ever worked ‘under the table’ for cash? Food service. Construction. Baby sitting. Landscaping. We know what happens without an accountable payroll department.
- Civil and human rights are protected. If your company had its way, safety and security would be negotiable. The free market would determine whether or not you were hurt or harassed at work. And if you didn’t like it, you could quit.
- Accountability is enforced. The best HR departments balance compliance with accountability. If management decides it wants to take a risk — whether it’s with your personal safety or with the financial solvency of the company — HR isn’t there to police the decision. But HR is there to make sure that the authorities know who to blame when the poop hits the fan.
- There’s something in it for you. Beyond getting paid and making sure you’re not killed in a freak accident, work has to have some meaning. Whether it’s paid holidays or Taco Tuesday, the best HR departments remind management that employees are not robots and need more than food, water and a paycheck.
- Fairness has a seat at the table. HR doesn’t guarantee that you will work in a meritocracy; however, fairness should have a fighting chance when HR is around.
- 01/06/13--09:49: Hire Athletes, But Not The Kind That Play Sports
- 01/08/13--05:53: Law Firm Partners Can Expect Major Layoffs This Year
- 01/09/13--06:05: Law Student Slams Recruiters For Being Total Hypocrites
- 01/11/13--13:04: INSTANT MBA: You Need To Know What Doesn't Matter
Many job-seekers hesitate to use a headhunter for their next career move.
What a pity, as a successful external recruiter has something you don’t: inside information on companies that interest you and the knowledge of vacancies which will never be advertised.
However, there are some rules to respect. Here is how to use a headhunter—written by a headhunter.
1. Go for a specialist than a generalist. If you work in IT or consumer goods, find a recruiter who deals with IT people every day as she will understand both what the hiring company is looking for and what you are talking about.
2. Make sure a recruiter is who they say they are first. Do not send confidential information about your employer or yourself before having met the recruiter or knowing the company they work for. There is some bad practice out there, and there are companies that collect the resumes filling their database and send them out to companies without an assignment and without your approval. Maybe to your boss?
3. Don't rely on too many recruiters. Do not work with more than around three headhunters. “Rare is precious,” and we only get our fee if we present a candidate who has not yet been sent by a competitor which, alas, may happen as outlined before. A second point to think of is that you might make a desperate impression if you're reaching out to too many recruiters.
4. Be as prepared for my meeting as you would be for an interview. I see candidates who arrive late to my office, are ill-prepared, or are carrying an outdated resume. When they show up they'll say, “Yeah, I never would have done that for the real interview but you are just the recruiter." Prepare for every interview as if you have to convince the person in front of you that you're worth hiring.
5. Be honest. Do not lie to us, especially about your salary or the reason for leaving your previous job. We will likely figure it out through reference checks or clever questioning. We might stop the interview and blacklist you. We are like doctors: let’s talk about everything and if there are bumpy parts in your career, we will discuss that and try to figure out how to explain it to the hiring company.
6. Like us or leave us. Sympathy is a pretty easy thing. If you do not like us, it is probably the same vice versa. I rarely recruited people I personally did not like. We are humans and networkers, but also sales people. If we like you, we will be more convincing when talking about you to our customer. If you do not like the recruiter you're working with, meet a competitor and to be deleted from the former's records.
7. Know that you deserve plenty of feedback. A successful headhunter will give you feedback on your resume, your presentation and will prepare your interviews thoroughly. We met your potential boss long before you'll get to, so we know what it takes to succeed there and why the job is vacant. Ask for this information if your recruiter does not give it. You are a client, too, and deserve the same service as the company that pays the bill.
8. Keep in touch. Even the best headhunters place only 1 in 10 candidates they meet. Maybe you won't make it to the interview for the job you applied for, but staying in touch with your recruiter can help you get the next promising job opening that comes along. The biggest lie recruiters say is, “I will call you on Friday." Nine out of 10 times, they don’t. Swallow your pride and remind us every three to four weeks in a respectful yet firm way of your existence: send us an email, call us or message us on LinkedIn.
A good headhunter with a nice track record and solid values can be far more efficient in your job search than you alone. Our job is to find the next one for you. Do not forget that we have the same goal: if you get the job, we get our fee. Use us wisely and we can be a catalyst for your career.
I’ve been in the industry for several years and I’ve come across every type of situation. I’ve met guys from top schools who work in bulge bracket firms, but I’ve also met people from those same schools who can’t seem to land a great job. Conversely, I’ve met guys from non-target schools who managed to get into a top firm.
Simply stated, I do recommend you attend the best school you can get into. Being the underdog is no fun and even if you “break in” it will take longer to get where you want to go. As well, there are many employers you’ll meet along the way that are very rigid about the “rules”. So even if you get in, it may still be harder to get promoted or find a better job later on. Therefore, the best solution is to attend the best school. This leads me to the first rule:
Rule #1: Remember the Michael Jordan Rule: Jordan was the best basketball player of his era. Charles Barkley was arguably #2. On any given night, Barkley might outscore Jordan. However, NO ONE would ever remember Charles Barkley as the best player of his era. The same rule applies for b-schools. There are many schools that rank “top 20” and claim they are almost as good as the top b-schools in the country. However, they are the Charles Barkley of b-schools. Even if they are that good… they’ll never get you the same amount of respect in the job market.
The next set of rules are suitable for people who don’t end up going to target schools:
Rule #2: Start small and work your way up: If you can’t land a job as an FX trader out of school (and it’s your ideal job), try to get a job as a commercial FX trader. Commercial traders are people who sell FX to mid-size companies under $100 million in size. You might not be able to leverage that towards an IB associate position, but if a bulge bracket firm is looking for an institutional FX sales or trader, they will look at someone with mid-market FX sales experience. I was told this is the case by an MD on an institutional FX desk who was looking to hire a junior trader!
In similar fashion, if your goal is to do M&A in a bulge bracket firm, you should get a job doing M&A at a boutique or an accounting firm. The same rule applies for lending: a commercial banker will eventually be able to land a corporate lending job. It takes 2-3 years of experience and a bit of patients but you will eventually get in. Also, remember that your time spent doing mid-market IB/FX/lending will not necessarily count as work experience in the big leagues.
Rule #3: Continue obtaining designations: Unlike b-schools which can vary in terms of credibility, nobody questions the value of an accounting designation or a CFA. All these things help! Keep trying to obtain additional letters after your name and your ability to land interviews will surely improve.
If you haven't touched your LinkedIn profile in months or years, it's time to take action.
Think of it like a makeover for your professional image.
The site has steadily transformed its profile pages from simple resumes to a smorgasbord of n interactive tools for job seeking and networking.
It's no longer enough to just list your past jobs and schooling.
But you have to log onto the site and use these tools.
Update your photo
Nothing says fresh like a new photo. This isn't Facebook, but that's no reason to stick with a stiff, boring head shot. Pick a photo that shows you off well, in a professional light.
Think: not blurry, not a group shot, not a pic with your girlfriend/boyfriend, or you wearing something you can't wear to work ... you get the idea.
Freshen up your summary
What's the biggest accomplishment you had in 2012? The Summary section is the place to tell folks about it.
If you haven't filled out a summary yet, write one. If you wrote one last year, update it.
Kill the 2012 and 2011 buzzwords
Is your profile filled with old buzzwords? They make you sound old, out of touch.
So kill them, kill them dead.
According to LinkedIn they are: creative, organizational, effective, extensive experience, track record, motivated, innovative, problem solving, communication skills, dynamic.
Other buzzwords to avoid include: results oriented, team player, self-starter, multitasking.
Most of them are adjectives trying to describe you. Instead use action words—preferably verbs—that show your accomplishments. Here's a good list of them from Money Zine.
See the rest of the story at Business Insider
It seems law schools have finally noticed the gigantic bubble engulfing their industry. They're cutting class size.
Kaplan surveyed 123 admissions officers at ABA-accredited schools and found 51 percent have cut the size of the entering class.
Not surprisingly, 63 percent said they were cutting back on their student bodies because there are just fewer jobs out there.
For those who actually get accepted, paying for law school might be easier because 47 percent of the schools surveyed had increased financial aid this year.
Fewer seats and more financial help will help prospective law students who really stand out, said Jeff Thomas, director of pre-law programs at Kaplan, in a press release.
"Now more than ever, being a highly competitive applicant may earn you great rewards," Thomas said.
Harvard Business School professor Amy Cuddy gave a great TED Talk this summer about how tiny changes in your body language can radically change your job performance and career.
Certain "power poses" immediately change your body chemistry, Professor Cuddy says.
And these changes help or hurt the way other people perceive you and, importantly, affect the way you actually perform.
Professor Cuddy concluded her talk with a startling revelation about herself, one that led her to choke up momentarily. Then the talk ended in a standing ovation.
The full video (21 minutes) is available here and at the end of the slides.
I've pulled together Professor Cuddy's key points below.
Amy Cuddy is a social psychologist and professor at Harvard Business School.
Professor Cuddy studies "body language"--the non-verbal communication that can tell us almost everything about what is going on in a given situation.
Small gestures reveal glimpses of character and shape perceptions about how people are perceived. Here, President Obama shakes the hand of a British policeman while entering the Prime Minister's house on Downing Street.
See the rest of the story at Business Insider
All of Sinegal's wealth and success stemmed from an unlikely source: his college job.
Sinegal was an 18-year-old San Diego Community College college student when he took a job at Fed-Mart in 1954, reports Steven Greenhouse at The New York Times. Sinegal's responsibility was unloading mattresses.
But Sinegal soon caught the attention of Fed-Mart's chairman, Sol Price, who is credited with inventing the big-box warehouse concept.
Eventually, Sinegal became executive vice president of the company. He eventually helped start Price Club, where he got a knack for the bulk-selling warehouse business.
Sinegal started Costco in 1983, and the rest is history.
His former mentor, now 89, is proud of Sinegal today.
"Jim has done a very good job in balancing the interests of the shareholders, the employees, the customers and the managers," Price told the Times. "Most companies tilt too much one way or the other."
Every few weeks I get an email like this one:
Dear Professor Campos:
First I want to commend you on your excellent blog. I have begun to read through your articles. The positive thing that I'm getting from the blog is that I don't feel so lonely anymore thinking that I got scammed when I went to law school. I started law school in 2002 and graduated in 2005. Prior to going to law school I had heard rumblings about how being an attorney was not as profitable as the schools made it out to be. I was also warned by other attorneys that it was very stressful. Unfortunately that information did not sink in and I bought the hype that [average-ranked law school] offered. So I spent three good years of my life working on a degree that I believe should have only taken two.
Then reality really hit when I entered the job market. It was not good. You could find jobs but for $40,000 to $50,000. At first I thought that it was me, that I had not done the right things, ie kiss up to the right people, done unpaid internships, etc. So I decided to hang up my own shingle. I opened my own office, and tried to make a go of it. It has been an incredibly difficult five years. For many of those years I would blame myself for not doing better; I began to believe that there was huge mistake that I was making or I had made that had alienated clients, or that I wasn't advertising properly, or any number of things that could be attributed to an office that produced income, but not that much. I worked long hours by myself trying to satisfy clients that could not be satisfied. I panicked at little mistakes, and thought the worst case scenarios for every misstep. It was a miserable existence and it put me in a depressive state with bouts of anxiety that were difficult to control.
So I went to therapy to get my head back on straight and that has helped a little. I also found blogs (like yours) and additional information that has allowed me to put my career in perspective. The conclusion that I came to was that after I beat myself over the business not going as well as I would like, the reality is that the current situation was stacked against me. It is very difficult to succeed in today's environment, and I don't feel like my school has addressed that at all. Which leads me to my point in to this rambling email. Perhaps you have written about this, but I cannot stress this enough; there is a mental toll taken on attorneys. Depression and anxiety have taken the wind out of my life.Depression and anxiety have taken the wind out of my life.
I'm getting help, a lot of help. I am aware of the dangers of allowing somethings to go untreated. People need to know how destructive this profession can be to some people, it has been for me.
I suspect it is for most attorneys because we all share the same stories. . . If you can, please write something on your blog about the dangers of depression, substance abuse, and suicide among attorneys. When I called the local state legal assistance program, one of the first things they asked me if I was thinking about hurting myself (unfortunately that had crossed my mind). It never occurred to me that it is so prevalent, it's quite scary actually.
This blog has focused primarily on the most straightforward economic aspects of the failure of the American system of legal education. It's important not to lose sight of the fact that, as a consequence of that failure, lawyers and law graduates deal with much more than crushing debt burdens and career options that bear no rational relationship to those debt levels.
On a related note, both student loan debt levels and delinquency rates are skyrocketing.
While this advice turn out to be true in Weiner's case, he says that willing one's way into a career is possible only within reason.
"I think it's really important that people are optimizing for both passion and skill," Weiner said at our IGNITION conference this week. "Often times you see people optimizing for one with the exclusion of the other, and I think that it's going to lead to a more of a challenging path."
Weiner explained that finding the balance of passion and skill comes through when you figure out what you want to accomplish at the end.
Watch an excerpt from our interview with Weiner for tips on being successful and happy.
Produced by Business Insider Video
LinkedIn has scoured the profiles of its 187 million members and come up with a new list of overused, useless buzzwords.
These are the words that can be an instant turnoff to a recruiter who sees them over and over again because they show that you aren't "dynamic" with great "communication skills," but the opposite.
"You wouldn’t mention how disorganized or irresponsible you are, and their antonyms (organized, trustworthy, etc) are wasted words too," explains LinkedIn's Nicole Williams.
So, if you are using any of these 2012 buzzwords, fire up your LinkedIn profile right now and scrub them out. Here they are, in order of how overused they are:
A few other buzzwords made the list for countries outside the United States. No matter where you live, consider ditching these from your profile, too.
By the way, even though some of the buzzwords from 2011 didn't make the Top 10 in 2012, that doesn't mean they've become good words to use again. So, you'll still want to avoid these:
Now watch below President Obama, Richard Branson and everyone else need to be on LinkedIn:
Should you follow your passion?
It may not be that easy unless we can all be athletes and artists:
In fact, less than 4 percent of the total identified passions had any relation to work or education, with the remaining 96 percent describing hobby-style interests such as sports and art.
Chase money? Income doesn’t affect job satisfaction at all and job satisfaction affects income more than you might think. Happiness is only about what you earn when you get paid by the hour.
And money isn’t everything. There’s also sleep.
What topped the list of the most sleep-deprived professions?
So what should you do? Let’s look at the big picture.
Job satisfaction is key because work is often a bigger source of happiness than home, ironically. Enjoying our jobs has a great deal to do with how much control we feel we have and whether we’re doing things we’re good at. Social factors are huge too.
Happy feelings are associated with “the fulfillment of psychological needs: learning, autonomy, using one’s skills, respect, and the ability to count on others in an emergency.”
What do we know about the happiest and unhappiest jobs?
It’s interesting to compare these jobs with the list of the ten most hated jobs, which were generally much better paying and have higher social status. What’s striking about the list is that these relatively high level people are imprisoned in hierarchical bureaucracies. They see little point in what they are doing. The organizations they work for don’t know where they are going, and as a result, neither do these people.
What makes for a satisfying job?
…the strongest determinants of job satisfaction are relations with colleagues and supervisors, task diversity and job security.
Using your “signature strengths” — those qualities you are uniquely best at, the talents that set you apart from others — makes you stress less:
The more hours per day Americans get to use their strengths to do what they do best, the less likely they are to report experiencing worry, stress, anger, sadness, or physical pain…
You want to experience “flow”. It’s when you’re so wrapped up in what you’re doing that the world fades away.
There are a handful of things that need to be present for you to experience flow:
And you want to be someplace where you’re treated like a partner — not an underling.
Learning something new and interesting daily is an important psychological need and one of the most prevalent attributes that people in communities with high wellbeing have in common. A key element in work environment wellbeing, being treated as a partner rather than as an underling lays a foundation for higher employee engagement and productivity, as well as better emotional and physical health.
Any specific jobs to avoid? Lawyers are miserable.
Martin Seligman, psychology professor at UPenn and author of Authentic Happiness, clues us in as to just how unhappy lawyers are:
Researchers at John Hopkins University found statistically significant elevations of major depressive disorder in only 3 of 104 occupations surveyed. When adjusted for sociodemographics, lawyers topped the list, suffering from depression at a rate of 3.6 times higher than employed persons generally. Lawyers also suffer from alcoholism and illegal drug use at rates far higher than non-lawyers. The divorce rate among lawyers, especially women, also appears to be higher than the divorce rate among other professionals. Thus, by any measure, lawyers embody the paradox of money losing its hold. They are the best-paid professionals, and yet they are disproportionately unhappy and unhealthy. And lawyers know it; many are retiring early or leaving the profession altogether.
Job satisfaction isn’t just about your job. Try to make yourself happier: overall happiness causes job satisfaction more than job satisfaction causes overall happiness.
And unless you’re really desperate, you might want to think twice about settling. People with no job are happier than people with a lousy job.
American workers who are emotionally disconnected from their work and workplace — known as “actively disengaged” workers — rate their lives more poorly than do those who are unemployed. Forty-two percent of actively disengaged workers are thriving in their lives, compared with 48% of the unemployed. At the other end of the spectrum are “engaged” employees — American workers who are involved in and enthusiastic about their work — 71% of whom are thriving.
Read more posts on Barking Up The Wrong Tree »
It may be hard to manage stress levels and stay motivated during the job hunt, especially if you feel like you're not in control of the situation.
But thinking this way is the exact reason why you feel nervous inside.
And then "you won't cope so well. You'll lose your critical-thinking abilities," Dr. Sharon Melnick, a business psychologist and author of the book "Success Under Stress," tells us.
In this interview, Melnick gives us some tips on how job seekers can maintain stress levels by pushing their "panic reset button," which activates a nerve in order to "loosen the area around the heart."
Produced by Business Insider Video
Partnerships can be a useful strategy, especially when one is trying to start a small business, and there is a need for varying skills and money.
Partnerships can bring complementary skills and capital into a business to make it grow and prosper faster. The odds of conflict and financial risk, however, can increase when two or more people get together to run a business.
Lack of Written Agreement
Like any other business arrangement, a written contract solidifies and clarifies the parameters of a partnership. Written agreements cover issues such as the extent of each partner's tasks and responsibilities, the division of net income, and the rules around changes to the partnership structure. Partnerships that start without a written contract run the very real risk of serious partner disputes ending in legal action or even the dissolution of the partnership. When two or more people choose to go into business together, they should map out their shared understanding of the arrangement, and hire an experienced business lawyer to draw up the contract.
Incompatible Long-Term Outlooks
In the beginning of a business venture, partners are often optimistic of the chances of success and buoyed by the excitement surrounding the enterprise. Sometimes this can lead partners to ignore some of the more mundane details, such as where each owner sees the business going and how he or she would handle situations along the road. Without serious discussions about the future of the business, partners may find themselves at odds with each other as challenges and opportunities present themselves down the road. Ultimately, this can gridlock a business if partners cannot agree on a plan of action to take the company forward.
Different Customer Service Protocols
In almost all long-term businesses, one of the hallmarks of success is that customers are happy with their interactions with the business. One measure of satisfaction is that the customer feels he or she is being interacted with the same way every time. For example, a customer at McDonald's can expect a similar interaction with staff every time he or she enters the door. However, not all big businesses have quality service, and this negatively affects their business. The same goes for business partners. If business partners both interact with customers and have vastly different ways of doing so, it can lead customers to avoid the business because they do not know what to expect when they call or come in. Regardless of how many partners own a business, customer service should be standardized.
Lack of Exit Strategy
When you first go into business with a partner, the last thing on your mind is leaving it. Everyone eventually turns over their businesses. It may be either through sale, passing it to family or through death. If a partnership turns sour, understanding the rules around leaving the business becomes even more urgent. Written partnership agreements - signed before you open the doors for the first time - should contain rules around how and under what circumstances each partner can leave the business. For example, there may be restrictions around who you can sell your partnership interest to or what happens to your share if you are medically incapacitated or die. Like most business disputes, it can be difficult to agree on these issues as they happen if there is no provision in the agreement for them upfront.
The Bottom Line
Going into business with someone else can take it to the next level, but it isn't right for everyone. Partnerships have the ability to create tension and harm the business if the partnership is not set up correctly, and this can result in costing the business and the partners a lot of money. Speaking with an experienced business lawyer can help you avoid making stressful and costly partnership mistakes.
As we've covered the MBA subject briefly in a recent post and many readers wrote in for more, a natural follow up would be the classic question: CFA or MBA?
A very, very popular question among potential candidates compares the CFA charter to an MBA - which would be better? Like most comparisons, the answer is - it depends.
Firstly, it’s a very tricky thing to compare a CFA charter and an MBA - they’re fundamentally different creatures addressing different disciplines. However, at the same time there is a real need to evaluate these two qualifications side-by-side these days, as many up-and-comers looking to reinforce their CVs look to these two qualifications and are not clear about what each can offer to them and their careers.
In trying to address this scenario, I will therefore critique both qualifications based on the benefits gained from a career perspective, and the costs involved. Always remember - the better qualification depends on your individual case. Read these points carefully and consider your own case before deciding which to pick (if at all).
#1. CFA: great for finance
The CFA is the qualification if you’re looking to build a successful careers in, private wealth management, or in ratings advisories in financial institutions. In these sectors an MBA will simply not be as valuable as a CFA charter. A CFA charter will also be an asset in all other financial services, as well as additional recognition even outside of financial services especially in Asia and Middle East & Africa.
#2. MBA: more widely recognised outside of finance
However, the MBA has the CFA beat in most industries outside finance. Acquiring advance financial analytical skills does not have the same pizazz as an MBA in non financial industries (say, advertising or manufacturing). If you’re unsure of what industry you’re planning on spending the rest of your career in, an MBA might be a good consideration.
#3. CFA: more time-efficient
The CFA holds an edge over an MBA in terms of time needed for preparation - although the CFA program demands an approximate minimum 300 hours worth of study per level, you can schedule these as you see fit. As the CFA study program is a distance-learning program, many candidates find it perfectly possible to squeeze in study preparation with a full-time position - hence you can continue accumulating work experience (not to mention continue earning) while studying for your qualification. The MBA on the other hand, will require a typical 2 year full-time commitment, which can be a significant opportunity cost and impact your work experience.
#4. But you can expect to earn an MBA sooner than a CFA charter
Hang on a second. Doesn’t this point directly contradict the previous paragraph? Not necessarily. The shortest time period you can hope to complete your CFA exams is 18 months. And that is only if you start in December for your Level I and pass all your exams on your first try (which happens to about 4% of candidates).
The average time for a CFA candidate to completion is 4 years, which is 2 years longer than the average 2 years for an MBA. Another point to remember is that the CFA charter will also require 4 years of work experience.
#5. CFA charter costs less
The monetary cost for qualifying for the CFA depends on how many exams you need to get there and how much you spend on prep materials. Typically this adds up to about $2,500 to $8,500, but can go up to $15,000 if you spend like a drunk oil baron’s first-born every exam, and fail several times.
This still pales in comparison to an MBA’s weighty $200,000 cost over the full term. Adding the opportunity cost of not working for a typical 2-year MBA makes the CFA qualification much, much more cost efficient however you slice it.
#6. CFA & MBA success rates are about equal
Some arguments on the CFA vs MBA thread sometimes point to the CFA pass rates. About 40% of CFA candidates pass each year, compounding to a very low total pass rate across 3 levels. Comparing this to 95% pass rates at Harvard, surely that’s one point for the b-school folks?
It's easy for job seekers to fall in a black hole of despair and unproductivity as days go by without employment.
The less you do, the less confidence you have in yourself, and the less attractive you become to employers.
In this interview, Dr. Sharon Melnick, a business psychologist and author of the book "Success Under Stress," gives us some tips on how job seekers can boost their productivity.
"What we're talking about here is being able to keep up the intensity even though there's no external accountability," she says.
Watch the interview below:
Produced by Business Insider Video
Lots of talk about bad and ineffective HR. Some say that the antidote to bad HR is to create some hyper-vigilant, technology-driven department of super nerds who obsess about big data and organizational psychology.
I hate that.
And it’s not realistic.
So I wanted to throw out some ideas for what defines a good Human Resources department.
I always tell my HR audiences — there is nothing wrong with administrative work if you make a difference in the world and make the trains run on time.
Paying people. Ensuring safety and security. Demanding accountability. Finding balance in the world. Those are awesome aspects of Human Resources. Not everyone gets to work with the CEO. Very few people have responsibilities for budgets and headcount. But everyone in HR can be responsible for Taco Tuesday.
That’s a pretty sweet thing.
A recent opinion piece in The Wall Street Journal offers a pretty dismal picture of the job market recent law school graduates.
"Nationally there are twice as many graduates as there are jobs," Chris Fletcher wrote in his op-ed (emphasis ours). "The Bureau of Labor Statistics estimates that the economy will provide 21,880 new jobs for lawyers annually between 2010 and 2020; law schools since 2010, however, have produced more than 44,000 graduates each year."
However, some in the field are still refusing to admit there's a problem.
Case Western Reserve University School of Law Dean Lawrence Mitchell wrote an op-ed in The New York Times in November criticizing the media for supposedly exaggerating legal industry employment problems.
And Mitchell is standing by his opinion.
"It's not clear to me there's an oversupply problem at all," Mitchell said in a recent interview with Bloomberg, adding that law students just need to change their career goals and look for jobs outside of BigLaw firms.
However, the data seems to validate Fletcher's op-ed. After all, demand for legal services dropped .8 percent at the end of last year.
Yet many schools are still refusing to cut their class sizes and are enrolling big freshman classes, spurring some recent grads to flip out on the alma maters.
One such unemployed former student sent a blistering rant to the University of Buffalo law school accusing the dean of "fiscally raping law students for your own very substantial personal gain."
After we closed our Series A for 42Floors, we began working on hiring the right people.
And while we like to say things like we want everyone to be world class at what they do, the reality is that as a startup we can’t afford world class. It’s not about the salary, we just can’t afford to have someone onboard that is focused on just one particular thing.
And that’s weird to say.
But we want to be, during this early phase of the company, really, really good at lots of things and move quickly. And the last part of this sentence is the key there: we have to move quickly, at all costs.
So we would much rather spend 20 percent of our time getting 80 percent of the way there and then move on, rather than get to 99 percent on anything. And if we can hit product market fit faster, we’ll then have plenty of time, money and focus later on to move from 80 percent to 99 percent. So while we want to be world class, we actually don’t want to be yet.
Weird to think of it that way, isn’t it?
One of the decisions we made early on was to only hire athletes. Metaphorically speaking, that is. I don’t mean athletes as in people who play sports. Athletes, as in people that can play any position within your startup. It means someone is first and foremost a generalist. They are guys that think and act like founders because they’re not so locked into one individual role that they lose track of the wider needs of the company. They have lots of good skills that can be applicable all over the company but may not be the very best at any particular one skill.
And most importantly, they are totally and completely adaptive. And in the early stages of a startup when your needs are changing almost daily, you want people not only that are good at being adaptive but enjoy, and even need, their day to day work to change.
A few tips for finding and hiring athletes
Take it easy on the job description
Lots of startups love to create their dream list of bullet point needs. The reality is, if you’re hiring an athlete, they’re going to be able to pick up a lot of the things you need along the way. Focus on potential more than experience.
Focus on makers
Athletes are always making things; they can’t help themselves. So instead of asking what they did at some particular job where they might not have had control of their own time, find out what side projects they’ve done – athletes will have lots of them to offer.
Look for entrepreneurs
Specifically, people who have founded companies and failed. Sure, it would be great to hire entrepreneurs who were massively successful, but I wouldn’t expect to get lots of them coming through your recruiting pipeline for obvious reasons. Entrepreneurs who have failed are really hungry to succeed. Plus, they already think like founders.
Beware of big company types
A huge chunk of your recruiting pipeline will probably be filled with people who have been at a big company for a while and are looking for something new. They are usually very good at what they do and have impressive credentials, but they are often the least athletic you’ll meet because big companies inherently force people to specialize.
First junior lawyers and office staff lost their jobs.
Now, as the legal market continues to underperform, law firms are coming for their partners' jobs.
Wells Fargo Private Bank's Legal Specialty Group surveyed roughly 120 firms and found about 15 percent planned to cut the number of partners in the first quarter this year, Reuters reported back in November.
And of the 113 managing partners and firm chairmen who responded to an American Lawyer poll, 55 percent said they planned to get rid of between one and five partners this year, The Wall Street Journal reported Sunday.
"You're only as secure as the amount of money you bring in," an unnamed partner who was recently let go from his firm told WSJ. "The job is to make money for the firm."
The newest cuts shouldn't come as much of a surprise.
The legal industry, like many others, has been faltering significantly in the past few years, and demand for legal services dropped .8 percent in the third quarter of 2012.
"For the year, demand is now basically flat," Peer Monitor found after studying 125 large to mid-size firms in 2012.
By now we all know if you don't go to a top school, you might be behind the curve when it comes to finding a job.
For the legal industry in particular, recruiters have said if you aren't able to attend a top-tier school, it might be a good idea to just find a new career.
But, if recruiters have such big expectations of students, isn't it only fair they hold themselves to the same high standards?
That answer is yes, according to Sebastian Salek, a law student at Clare College, Cambridge who's completely fed up with "sloppy" recruiters.
"So listen up, graduate recruiters! We may be desperate, but, realistically speaking, there are more suitable opportunities out there than we have time to apply for," Salek wrote in a recent op-ed for The Independent. "What this means for you is that even the tiniest slip-up and we could be writing you off for good. Sound familiar?"
Recruiter mistakes range from emails filled with grammar errors to failing to notify students if they don't get the job.
Some of Salek's requests seem a bit labor-intensive. For example, he asks recruiters to create separate interview forms for graduates applying for jobs and for people who are already in the field and are applying for jobs. But we have to say his overall message makes sense.
Graduates often spend hours filling out applications or preparing for job interviews. If they can put in so much effort, it just makes sense that recruiters should do the same.
"One thing I’ve learned over time is a lot more patience and tolerance. I used to always want things yesterday and would be very anxious about moving things along faster. But now I understand that tomorrow’s another day and that things will move along."
Heart says his leadership evolved when he learned to focus on moving forward and having more patience.
While moving fast is a good quality for CEOs to have, it's important that they know how to move on when deadlines and schedules need to be altered. Prioritizing is one of the most difficult aspects of being an efficient leader. The better you get at separating what matters from what can wait temporarily, you'll be on track to worrying less and only looking forward.
"I think more about whether something really matters and how it will make a difference, versus thinking that everything matters and everything makes a difference. It’s also much clearer to me now what the leadership qualities are that are most important to me."
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