What they won’t tell you about job hunting!

Previously I wrote several articles on job hunting and career advancement but today I would like to share with you a couple of new insights that I have gathered over the past few months that particularly address HOW NOT TO FALL INTO THE TRAPS of so-called job hunting tips. You probably know many of these already, or you may be doing exactly the opposite of these, but it’s okay. These ideas should become common sense to you after you finish reading this piece, so bear with me.

 

1. Recruiters are only helpful when they need you, not when you need them!

The No.1 myth about job hunting is that “headhunters are angels and they will help you to land your next dream job”. Not exactly. First you need to understand how they actually profit from their job. They don’t earn any money from you directly but if the firm decides to hire you then they get paid by the firm. Which means, they will ONLY WANT TO HELP YOU if they think (or better yet, are certain) that you have a very good chance of getting the job! So if you are desperately in need of a job or you don’t necessarily have a strong profile or you behave as if you are hesitant, insecure, and not-that-confident, then the recruiters have absolutely no incentive to help you get connected (it’s sad but that’s the hard truth). This is exactly why you will ALWAYS get the most headhunter calls when you are still at your CURRENT JOB. If you already have a job, which means you are hirable, it immediately makes you more attractive. Does that make sense?

So if you have quitted your previous job or that you just graduated from b-school, you should honestly focus your time, as much as you can, away from recruiters. The only exception is that, i.e. on your LinkedIn profile you have already exhibited a proven strong track record of consistent top performance at multiple big firms, then whether or not you are currently employed is less of an issue.

I am scared of competition, and you should too!

I know I have been away for a while. I have been traveling for business (and leisure) in Asia for the past 4 months. I was in Hong Kong, Singapore, Thailand, Macau, and multiple places in Mainland China. I met many interesting people, faced many challenging situations, and there are things that I like and not like about this whole experience, which I will gradually share with you later on. I am also in the process of building a brand new website that will EXPAND the topics of my writing, the bandwidth of knowledge that I am sharing, the broader audience I can reach out to, and the ways how I can communicate to each one of you. I look to launch my new website in the near future by which time my wordpress articles will be migrated. So please stay tuned and I would love to celebrate together with you when that becomes official.

But one thing that has been on my mind for the longest time is: Why am I not relocating back to Asia? I had multiple conversations with senior managers from different teams in our Asian offices, and one of the really senior guys gave me this look when I told him I was born and raised up in China, went to college in the US and have been working in NY ever since, and he almost started yelling at me:

What the hell are you still doing in New York?!

Most Effective Tips on How to Write Follow up Emails

Dear Danye,

I really want to hear your insights on how to follow up with people I just met with such as alumni or high profile people. After the first acquaintance, I usually don’t know what to say to them through email or phone since we barely see each other. At the same time, I’m afraid that too many emails of questions or holiday wishes would annoy them. But I want to make a good impression because I may need their help at some point. Would you please elaborate how you maintain the relationship with your contacts?

Thank you – N

Another great question from Ask Danye, you guys are really awesome awesome inspirations! And I want to reassure you that the very fact you are writing this email to me means you take initiatives and that you are on the right track: yes, you do need to reach out to people BEFORE you actually need help from them. And here’s how to do it:

• Make it extremely easy for them
• Keep it very short (the 3 steps)
• Watch your tone (some do’s and don’ts)
• Write it already

Make it extremely easy for them

Senior people are busy people, so if you want them to do just about anything in the world, you need to make it super easy for them. I recently coordinated with HR, Yale Alums at my firm, and Women Initiatives for an informational/networking/recruiting event with Smart Woman Securities, a women organization from Yale. I pushed very hard for the event to happen obviously since we don’t really recruit on campus, and there’s tons of coordination work. But I got affirmative response from EVERY SINGLE person I reached out to and everyone is super excited to help me, even Harvard alums!

How to break into a conversation (and what to do when you cannot)

Dear Danye,

Nice blog! Very informative and definitely helpful to me who is approaching graduation in a few months.

I read several articles of yours and wonder if you have talked about how to stand out in a conversation/info session where people are beyond talkative. I mean, I don’t think I’m a quiet person but I got frustrated at times when I couldn’t break into a conversation because they talk non-stop. Any tips to out-talk these people or be memorable in a good way (through talking etc)?

Thanks – K

I received the above message through Ask Danye a couple of days ago. Great great question, and probably quite a popular concern among many us young professionals and particularly women and internationals. So let me go through my thought process with you regarding this issue, and share some practical tips you can apply to your situation right away.

 

5 Practical Tips on BREAKING INTO A CONVERSATION

 

1. Understand your goals

It is important to understand, first of all, that you don’t always have to break into a conversation, especially if this very process gives you mental pressure. You should only focus on the situations when people are discussing important stuff (of course you need to decide what is important for you), and you should only even TRY to break into it when you actually have something important to say. 

To Leave or Not To Leave: Should you switch jobs now?

So this is bonus season again and despite how much you DON’T want to hear discussions about it, people talk about what they are getting, people express feelings of dissatisfaction or content, and people start thinking about other options.

Especially for young professionals who just entered the workplace in the past one or two years, this is a crucial question you might want to ask yourself: should I stay? Or should I go for another firm?

 

Wait ~~~7 Key Reasons to hold off jumping to somewhere else!

 

1. You have been there for no more than 6 months

You typically need 6-8 months to get used to a new job anyway. It is hardly a smart decision to leave already before you give yourself enough time to get comfortable with the day-to-day work.

 

Are you satisfied with your job and what are you looking for?

Apparently I was randomly selected from my college to participate in the 2010 National Survey of Recent College Graduates conducted by the National Science Foundation (NSF), and in the email it specifies that they cannot substitute another person for me given the process. I was also told that this important national study is the only source of data on the post graduation plans and experiences of recent graduates with bachelor’s or master’s degrees in natural sciences, social sciences, engineering, and health fields.

All sounds very interesting. But I want to direct your attention to one of the questions they asked me during the survey:

How much are you satisfied with your current job in the following respective aspects? And also, with a scale of 1-5, how would you rate the importance of each aspect to you?

In case you are one of those debating over several options, I want to list the 9 aspects below and my personal takeaways for each aspect, and to give you an idea of what questions you should ask yourself and your potential future colleagues, before making a decision on joining the firm/or switching to something else.

• Salary
  • An entry level base of 65,000 vs. 70,000 may not be a big difference, but a base of 45,000 vs. 70,000 would much likely raise a bigger question mark.
  • How much is the rough increase every year?
  • What is the industry-level pay for this type of position? Is the pay scale above or below average? How about bonus level?

The magical three words: how to describe yourself in an interview?

I once had a banker friend who told me about his three magic words on his characteristics and qualifications for a banking position:

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1. Good Attitude
2. Attention to details
3. Team player

And the next day, I randomly found a blog post by Investment Banking Interview Prep coming up with EXACTLY the same three qualities.

I was amazed but at the same time very disturbed. I wonder if these are really the answers an interviewer would be looking for; I wonder if it’s just for banking; I wonder if it’s THAT typical, and I wonder if these are really convincing enough, because I had a hard time being convinced!

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I never held a position in banking, so I am not in a position to comment on this but a few of my close friends who claimed to excel in all the three above qualities have either left banking already, or have constantly complained about the long hours, the hierarchy, the shitty work they were dumped upon, and the criticism they got from their Associates/VPs. Yes, maybe as Seth nicely put it in his recent blog post: It’s unreasonable to treat your colleagues and competitors with respect given the pressure you’re under.

People still kill to get into banking, and there’s absolutely nothing wrong about that; but this is not a situation in which I want to put myself, and although I believe I am decently good with the three above qualities, I don’t think they really differentiate myself from anyone else and to some extent these three qualities don’t really address the fundamental issue of who I am as a person. So I came up with the three words below and let me explain why they are profoundly more powerful:

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What if your boss doesn’t give you good projects?

This article applies to many scenarios outside of work as well, just as a FYI. Ok, so I happen to love all my managers across teams, but I realized only recently that this is a very rare case. 

Most people don’t really like their manager. And by boss/managers I mean those who are higher (even slightly higher) up than you along the corporate hierarchy. After all, he/she is the person who gives you shitty work, or who decides whether your next project will be actually high-profile, or who complains when you are late in the morning or you leave before your analyst at night, and probably the scariest part of all, who runs your performance evaluation and determines your bonus.

 

You are lucky if you have a manager half as friendly, reasonable and approachable as mine (seriously), but chances are you don’t have one like that. So you are scared of your manager, one way or another. Managers, on the other hand, may have given up on being likable either. I am not saying this is the right thing to do but they simply don’t have to care that much. I mean, they don’t NEED you to like them; they are your boss regardless.

Of course you can simply quit and join another team/firm, but there is no guarantee this will not happen again. So what I really want to talk about today is how to deal with a manager (or anyone) who is (at least in your mind) a total disaster and almost impossible, and who (in your mind) wants to secretly jeopardize your career and ruin your life!

 

You don’t know their intentions and you naturally assume the worst

 

Top 10 Tips on Getting an Internship & Job

Firstly some updates from me: I know I have been writing about job hunting/networking a lot these days, but coming up next~~~ a post on writing new year objectives for young professionals, and then another post on some exciting advancement in my own career and how I managed to get there!

Also if you like what you see, you might want to consider “subscribing” to my blog via RSS or email, see top right on this web page! And help me to share or tweet the posts you enjoyed reading!

 

Now back to job-hunting~~~

It’s about the time of the year that college students start to get super worried about their “future”, and I feel obliged to write another article on job hunting. A few ladies recently reached out to me for more advice on getting an internship or full-time job (thanks again for complimenting on my blog btw, I am glad if my posts did help you in any way). And before you reach out directly to me again, READ THIS POST!

Please go directly to No.3 on the list if you are in a hurry.

 

A Good NAME for your Internship; A Good TEAM for your Job

I was at this Womensphere Summit on Emerging Global Leaders this past Saturday and the beautiful lady sitting beside me is a junior at Brown University majoring in International Relations (no surprise), and she is freaking out about what she is going to do for the rest of her life, especially when everyone starts talking about passion and building a solid career path.

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This may be the stage you are at in your life and you are thinking about the same issues and you may be freaking out too, and if I were right, you actually go to a great school with top programs and your grades are decent. But you are still freaking out. Why? I know. I’ve been there before: There are simply too many options, and you could potentially do anything and everything. But you have no clue what you really want and how you should make such decisions.

Ok so here are some well-tested advices (by my own experience and by many others) on how to figure out your passion and make decisions on your junior internship and more importantly, your first full-time job. Bear with me.

 

Find a good NAME for your internship

Tips on effective networking for women

I had the opportunity to be involved in a couple of women initiatives recently, and I realized how frustrating and confusing the whole experience of networking may be to some women. Today I’d like to write about how to effectively network as a woman, and as a young professional, especially in industries most likely still dominated by men.

 

Forget about emotional connection for a second

One of the most important difference between how men and women network which I recently discovered is that men connect with each other instantly from a networking perspective, while women tend to connect first from an emotional angle, which could be a powerful thing in a longer-term oriented relationship, but not necessarily effective in a social setting. Many times after a conference or gathering event, men will walk away with business cards, and a list of names he can contact for his new business idea or who will help to advance his career or to land his next job; while women might walk away only to discover she spent most of her time talking about food, clothes, recent movies, or even kids, and she still doesn’t know too much about the other person she just spent 20 minutes with!

There’s a recent article on BNET on the right mindset of networking: to perceive networking as a skill not a task, which means you should develop your networking skills quite consciously. Given that mindset, it will be easier to talk to a total stranger in a more efficient and effective way (and not feeling awkward) when you start asking questions about his/her career, ambitions, recent development, long-term plans, suggestions, how to get there, etc. Most importantly, try to walk away with “how you can help them do better in what they do” as well as “how they can help you do better in what you do.”

Best of 2010, and Preview of 2011

I have kept blogs in a variety of places before and this is the first and only time the website sent me a stats summary with such details for the bygone year. For the constant thrive to optimize user experience and the degree of dedication, I want to first thank WordPress for offering me, and many other bloggers in this world, an intimate place to pursue our passions, to share our curiosities, and to develop a legacy. 

I also want to take the opportunity to appreciate every one of you who has stopped by my blog over the past year. For those who have commented on my posts, cheered for me on my facebook walls, left a message to me on LinkedIn and Gtalk, followed me on Google Reader, or mentioned my blog to me face-to-face, I want to thank you for being my constant motivation and inspiration. Your encouragement means the world to me.

Started in mid-April 2010, the blog had 70 new posts and was viewed about 21,000 times over the course of 2010. Not bad for the first year I have to say. Thanks for sharing this with me.

Here are my Top Posts of the Year:

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10. This is the kind of email I WILL respond to!

This was an introduction email on career opportunity that I have been waiting for. As I know most people are still struggling on how to effectively network and communicate, I figured it was a good idea to share the email and my interpretation with you. 

Get Back On The Horse

I was staying late for a regional call with Asia and before I left the office I walked around the floor to see who else is there at this hour. I saw one of my colleagues on another team who was just promoted to VP. I walked into his office and said, what’s going on? 

And then I noticed a book on his desk The Greatest Generation by Tom Brokaw (the collection of mini-bios from the generation of WWII), and I asked him, do you enjoy reading bios?

He said, “yes, I’m just starting this one, but my latest read and my all time favorite was Winston Churchill’s biography”, his eyes lightened up, “and actually I still remember very clearly the 5 things about him and his life.”

I was intrigued, and he started writing on the whiteboard hanging next to the wall. 

1. Aim high (you know what this means)
2. No substitute for hard working (you know what this means but focus on whether you are doing it)
3. Get back on the horse (meaning no matter how many times you fail or fall off the horse, you stand up, be strong, and get back on the horse)
4. Never be revengeful (Don’t spend even a second on thinking how to get back to those who may have hurt you or sabotaged you, this is politics, but you have more important things to focus on)
5. Help others (again, probably easier said than done)

And then I asked a critical question which landed my writing here today. I asked, if you are to rank the importance of these 5 things which one will come on top?

This is the kind of email I WILL respond to!

Dear Danye,

I came across your profile on linkedIn while going through the ‘Business & Jobs New York’ group, and you came across as a great person to connect with. I am writing to you because I am really interested in joining the XXX Group at XXX Firm and would really appreciate getting some insights from your end. I have been making online applications to this group and nothing has come up so far.

To give you a brief overview of my background; I graduated from XXX College with a bachelors in Economics/computer science, joined XXX Bank prime brokerage group for over a year then XXX’s wealth management as a Client Service analyst for a couple of months. Thereafter I went to graduate school at XXX University where I received my masters in Financial Economics.

I would like to forward you my resume for critique and directives. Kindly let me know if you will be willing to assist me. Your advice and time would be invaluable.

Many thanks and I look forward to hearing from you.

ABC

Of course, this is a very articulate and well-written letter. Now, why do I have an incentive to write back to this person, among all others? Because he/she perfectly answered three big questions in my little head whenever I am reading such letters.

What can possibly go wrong with your resume?

We have been hiring in our group and the resume screening process is kind of fun. I know there are many articles all over the place on how to write a perfect resume and I can tell many of the resumes I’ve seen have tried very hard to follow these rules. But then, what can possibly still go wrong?

 

1)      What the hell is that experience on top of your resume?

Wharton MBA, 4.0 GPA, absolutely impressive. And all the other work experience only makes him more qualified for the job. Wait, but his most recent position for the last 8 months is in MUSIC PRODUCTION? It’s not that you can’t try something new about your life, but why is this RELEVANT TO THIS JOB that you’re applying? You can be a very artsy person or a super talented guitar player and that’s probably even a plus, and it could become a very entertaining topic at the interview. But it’s usually a BAD idea to put this in bold letters on the TOP of your resume applying for a job in a totally different industry, because people will have a REALLY HARD time making the connections. 

Your resume represents who you are before you get a chance to convince anyone face-to-face. You want to make it REALLY EASY for the resume screeners to pick you. 

2)      Those two lines at the bottom of your resume

So the big firm or the small firm?

At some point you are going to ask yourself: Do I want to be a small fish in a big pond or a big fish in a small pond? It’s a tough decision.

A big fish in a small pond can be an attractive idea to everyone. Some headhunter called me again yesterday, another marketing/investor relations/client-facing position at another boutique fast-growing HF. More freedom, more flexibility, and more money: the rosy picture of the so-called “fast-track”.

I would by no means want to discourage those who want to really step up in their career, but before you get too much ahead of yourself, take a moment to think about the following:

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Success here doesn’t promise your greatness there

You might be very good at a big firm, but chances are this it not because of who you are and what you are capable of (of course these matters big time too), but more importantly because of the training you get, the resources you have at your disposal, and the whole supporting platform that lies in every aspect of your work life.

What can you do today to make your tomorrow easier?

I would like to share with you the most concise and brilliant answer to this question which I just learned this past weekend. I owe it to Mr. Xinjun Liang, the CEO and Vice Chairman of Fosun Group, and I agree with every single point of the 4 points he made below.

Money (钱)

This is not about how much money you are making today or how much money you can make tomorrow. This is about if there are people out there having the money and having a belief in you, so that one day when you need to make a bigger decision about your career, i.e. start your own enterprise, you don’t need to worry about the initial funding. 

People (人)

What does an interviewer really want to know?

I am not a recruiter myself but as our group finally started hiring again, I had the opportunity to sit on the other side of the table a couple of times recently. There are many articles out there on “must prepare interview questions”, “how to ace an interview”, etc, many of which are quite helpful. Yet what I want to focus on today is the fundamental questions an interviewer wants to answer during his/her conversations with you.

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• Common Sense: Can you help me to make sense of your experiences?

You will probably say: everything is on my resume. That is not enough. You need to help the interviewer to “connect the dots” and to tell good stories so he will understand why you worked at A before, and then B, and then C. You also need to answer the questions of why you want to move from consulting to investment management, and why from SF to NY, and how your past experiences relate to what you are doing today and your future goals.

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• Motivation: Is this what you really want for yourself, NOW?

My boss had too many comments on my assignment!!!

If you ever worked in banking, you probably know and have experienced the following: You stayed very late to work on an assignment due this morning at 10am, and then for the next 6 hours you have basically nothing to do. At 4pm you got your assignment back with TONS and TONS of comments, and you know it will be another really long night ahead of you. 

Have you ever thought about: is this really how it is supposed to be? Or if there is anything you can do to make your life easier? Well you know, probably the first step to making your own life easier is to make other people’s lives easier. And here is how to do both at the same time: 

Understand the end objectives

There are many reasons why you have to do certain things that may not quite make sense to you. It’s probably done that way historically, or the client requested it that way, or it’s the only data you can find, or it’s for your manager’s convenience. But a lot of times it will be really helpful to know the following information: why am I doing this, who is this for, and when exactly you need this.

 

The Relocation Decision: It is Not About The Job

You probably have heard of this before: I am relocating to Hong Kong because I got a really exciting job opportunity. But when you heard this too many times, you might start asking yourself: I have opportunities to relocate as well, but why the decision is so difficult for me to make while it seems so seamless for everyone else? 

But probably you did not dig deeper into their reasoning behind the relocation. In fact, it is hardly ever about the job, or at least not the job alone. Well first, to take a step back, let’s suppose that as a competent professional as yourself, you are capable of landing a job anywhere in the world. 

So if it is not about the job, what is it about then?

To be closer to your significant other and/or family

It may sound surprising for someone just starting their career, but it is even more surprising how many people are willing to relocate to be closer to their boyfriend or girlfriend, or move back to their hometown to be with their parents.