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Ok, I have a friend who is a first year analyst and the firm is recruiting for another analyst for next year. So of course tons of people applied and he was asked to sieve through the pile.

He told me that there were people who fit the profile, with relevant job experience/internships but are older with an masters or MBA. Then I was shocked to learn that he threw their resumes out of the window. I was like why?

He told me he felt threatened as he had no Masters and only a undergrad degree. Also some of these people were older than him, and said he can't boss the person around that much. I was shocked to hear that.

Then he admitted, if he was the boss, he would hire them in a heartbeat because talented individuals are always valued at organizations to help it grow, regardless of age or education. But then it sucks to be them because a first year analyst is sorting through the resumes.

He ended up selecting fresh undergraduates from Ivy league schools for interviews. My friend is from Ivy league as well so he did not feel as threatened by them. Not too shabby but I am appalled by the discrimination that takes place at the lower tiers of the recruitment process.

Comments (20)

  • nymagic's picture

    The short answer is - yes - there can be. I'll refrain from commenting too much on your friend's position, but there are certainly candidates out there I would not hire for an analyst (or associate) job because they are over qualified. The primary issue here is not that i'm intimidated - quite the contrary, I actually would love to have someone with more experience reporting to me. However, the issue is whether they will be willing to do the work and frankly whether they will be sufficiently challenged in the role to perform at their best. At some point, experienced professionals feel, and usually rightfully so, that they shouldn't have to do certain tasks. Sometimes this attitude is reflected openly, and others it becomes a passive aggressive be issue. In either case, the attitude is unhelpful to the rest of the team. Also, if you place someone in a job where they feel underutilized, it can inadvertently cause similar issues. Personally, I would always prefer to have someone more experienced, but you've got to be sure the personality fit is right for the job. In the case of your friend, the one thing I will say is that by assigning him the task of filtering resumes, the senior team members pretty clearly indicated they were looking for a very junior role (otherwise they would have asked someone else to deal with it --- your friend isnt sorting the MD resumes for example). So, if the role is that junior - its probably best to look for someone who is hungry to do that work and won't be bored by it.

  • StrongMan's picture

    These days, you get all sorts of resumes when posting a job. Just a couple months ago, I posted a job in the newspaper for an entry level A/P clerk, no experience necessary, well train on peoplesoft. Guess what, I got three distinct resumes; one from a guy with 20 years experience as a CPA(and still holds a CPA license, I looked it up on the state website), one former CFO of a small company $92k yearly income(out of work for 3 years), and one from a former accounting manager of the city I reside in with 15 years experience. I didn't even bother calling them in for interviews. Quite frankly, all of them would quit when a better opportunity comes along.

    In all honesty, I was looking to hire some high school grad who would've been grateful to earn $12.00/hr instead of $8.00/hr flipping burgers. I mean it is a simple task, bills come in, enter the amount and description, and click ok. I don't need some mental math expert who enters bills in at a rate of 3 bills faster per minute. There isn't even enough bills to justify hiring two people.

    It is not about the title that you have, it is about how much money that you have.

  • Imperialian's picture

    Frankly I am quite sad to see this, especially the part of the former CFO who was jobless for 3 years. If you are old and you are jobless, you are finished. =(

  • hopesanddreams's picture

    I think its a potential to grow thing too. I know several undergrads who work with Master level students but in the workplace you are all on par for promotion (to associate level or whatever). I reckon they assume undergrads are more 'hungry' whereas Master level students tend to be more mature/have thought everything out. Sometimes being 'perfect' for the role is not what they are looking for. Also if it took a Master level student an extra year/2 years to learn roughly the same amount of finance that the undergrad will have to learn in 2 months of intensive training - and then they are both equal - who would you hire? Last but not the least - undergrads generally care less about getting crap work and people feel less guilty about it too. Would you really want to give the top 1% scorer of the top business school's Master in Finance student crap work? Or a undergrad who got a 2:1 and whose happy to just do anything to learn more - since they know practically nothing haha.

  • snakeplissken's picture

    I think it's probably pretty analogous to applying to college. Some safety schools reject you because you're overqualified and they know that the second you get accepted to a more selective school you're gonna ditch them. Same thing here probably. If a Masters grad is doing analyst work, they're gonna jump on the first opportunity they can to get a better position (so would everyone, but the difference is people who are 'overqualified' may have more opportunities to do so).

    So the end result of having to throw away resumes of very qualified people, but the rationale makes sense.
    Unless you're rationale is that you just don't wanna be the boss of someone your senior. In which case...c'mon brah.

    Remember, once you're inside you're on your own.
    Oh, you mean I can't count on you?
    No.
    Good!

  • snakeplissken's picture

    *the end result sucks

    Remember, once you're inside you're on your own.
    Oh, you mean I can't count on you?
    No.
    Good!

  • ct banker's picture

    Its too bad in this economy with unemployment rate sitting at 7.9% individuals who are well qualified for their respected positions cannot find work and are forced to apply for A/P jobs which they are overqualified for. Lets hope the economy turns around soon

  • IlliniProgrammer's picture

    Imperialian wrote:
    Ok, I have a friend who is a first year analyst and the firm is recruiting for another analyst for next year. So of course tons of people applied and he was asked to sieve through the pile.

    He told me that there were people who fit the profile, with relevant job experience/internships but are older with an masters or MBA. Then I was shocked to learn that he threw their resumes out of the window. I was like why?

    He told me he felt threatened as he had no Masters and only a undergrad degree. Also some of these people were older than him, and said he can't boss the person around that much. I was shocked to hear that.

    Then he admitted, if he was the boss, he would hire them in a heartbeat because talented individuals are always valued at organizations to help it grow, regardless of age or education. But then it sucks to be them because a first year analyst is sorting through the resumes.

    He ended up selecting fresh undergraduates from Ivy league schools for interviews. My friend is from Ivy league as well so he did not feel as threatened by them. Not too shabby but I am appalled by the discrimination that takes place at the lower tiers of the recruitment process.


    Don't worry. We're also probably friends with his manager or one of his manager's friends, so we can get an interview too.

    I think life works better when we ignore credentials and focus on competence and personal skills.

    Credentials never intimidated me that much when I was doing recruiting work. And if you're a more competent person than me, I want to be friends with you. I may not want you working 90 hours/week and getting your work compared against mine, but it's probably better for me that you are a part of our company than working for the competition.

    I think recruiters do take issue with arrogance. If you are a Harvard MBA and talking with a trader, salesperson or even a guy in research, be aware that they will be really sensitive to any sort of entitlement. You are recruiting on your competence and personal skills, not the brand name on your resume.

  • BTbanker's picture

    Threatened by and MBA analyst? I'd feel sorry for the guy, not threatened.

  • eliteculture's picture

    Those are just bunch insecure analysts like Patrick Bateman. Grow the fuck up and embrace the competition, this is what we need in this country, fucking competitions, may the best win.

  • In reply to eliteculture
    BTbanker's picture

    eliteculture wrote:
    Those are just bunch insecure analysts like Patrick Bateman. Grow the fuck up and embrace the competition, this is what we need in this country, fucking competitions, may the best win.

    Bateman is a VP. He skipped the analyst level since his father practically owns the company.

  • thedude12r43w's picture

    If you think that's bad how about first year analysts that are part of their target school's recruitment process and discriminate against candidates based on things that have absolutely nothing to do with how good of an analyst the candidate is (fraternity connections, went to the same hs as them, football team) or just based on if this person will be their friend and go out with them. Obviously you don't want to hire a anti-social closet person with no social skills but there is a great deal of bias when first year analysts are involved.

    I remember interviewing with a firm and was half-dinged at the pre-superday dinner because one of the analysts felt I talked about work too much (this was not even the case).

  • In reply to BTbanker
    snakeplissken's picture

    BTbanker wrote:
    eliteculture wrote:
    Those are just bunch insecure analysts like Patrick Bateman. Grow the fuck up and embrace the competition, this is what we need in this country, fucking competitions, may the best win.

    Bateman is a VP. He skipped the analyst level since his father practically owns the company.

    That would fuckin rule. Do you see how many lunch breaks that dude took?! Banker salary. Grade school teacher's hours. Courtesy of pops.

    Remember, once you're inside you're on your own.
    Oh, you mean I can't count on you?
    No.
    Good!

  • In reply to snakeplissken
    BTbanker's picture

    snakeplissken wrote:
    BTbanker wrote:
    eliteculture wrote:
    Those are just bunch insecure analysts like Patrick Bateman. Grow the fuck up and embrace the competition, this is what we need in this country, fucking competitions, may the best win.

    Bateman is a VP. He skipped the analyst level since his father practically owns the company.

    That would fuckin rule. Do you see how many lunch breaks that dude took?! Banker salary. Grade school teacher's hours. Courtesy of pops.


    Best scene

    Detective Kimble: "I know how busy you guys get."

    Patrick: (sweeps magazines and cd player into drawer).

  • In reply to snakeplissken
    IlliniProgrammer's picture

    snakeplissken wrote:

    That would fuckin rule. Do you see how many lunch breaks that dude took?! Banker salary. Grade school teacher's hours. Courtesy of pops.

    No, that would suck. I and all the people around me would always wonder if I had earned my paycheck.

  • In reply to IlliniProgrammer
    snakeplissken's picture

    IlliniProgrammer wrote:
    snakeplissken wrote:

    That would fuckin rule. Do you see how many lunch breaks that dude took?! Banker salary. Grade school teacher's hours. Courtesy of pops.

    No, that would suck. I and all the people around me would always wonder if I had earned my paycheck.

    Fair enough. How about this: theoretically, it would rule. In actuality, it would suck.
    Well, maybe not totally suck. You could always befriend some people who are at some random small bank who know nothing about your bank's politics. Or *gasp* some non-finance people.

    But then you can't brag, which also sucks

    Remember, once you're inside you're on your own.
    Oh, you mean I can't count on you?
    No.
    Good!

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  • Going Concern's picture

    “A deception that elevates us is dearer than a host of low truths”