5 Reasons you didn't make the cut
Last week I was helping out another group with some interviews for an experienced hire and of all the interviews I held, I only recommended 1. The standards are a bit different when interviewing lateral hires. We expect you to actually be knowledgeable in the area you are working and be able to speak effectively about the work you have done. But for some reason, these and some other basic skills seem to have been lost on the people I saw this week.
Read on to see the 5 reasons I passed on most people I interviewed.
- Interviewee with the typos on their resume
Always proofread your resume – pretty basic stuff. This interview was over before it began. - They didn’t have a good enough reason for why they were leaving their current job.
Whether you’ve been in your current role for 12 months or 12 years, you have to have a strong answer for this question. The only one I seemed to keep getting is Job Security. While a perfectly valid reason, this only makes me wonder why you feel you are in a position to get fired/laid off. If you're not valuable in your current role, why would you be any different in a new role. - They couldn’t talk about their current jobs
If you are asked situational questions, draw from your experience, give concrete examples. Don’t use a generic answer. Show what you have learned in your current role and what you would be bringing to the table. Don’t be afraid to have an opinion on something instead of playing both sides of a question. - Lacked motivation to grow outside of their current role
When asked about where they saw their career going, two people said they didn’t want any change in their current role. This is a big red flag. I’d be hesitant to work with someone that isn't motivated to take on anything new and is complacent in their current role. - They didn’t ask me questions
It’s a bad sign when you don’t care to ask questions about the group or the job that you would potentially be doing.
Hopefully this helps some of you avoid these mistakes in your next interview.
For the most part, this seems like pretty basic stuff. Makes people like me (soon to be FTers) feel a little better should I have to lateral one day down the road.
My question is about #2. What would be a strong answer to this? Obviously it's a case by case basis, but if you could list an example or too, it'd be much appreciated.
Nevertheless, thank you for the pointers.
When I left the sell-side after 6 months to go to the buy-side, #2 was pretty straightforward. I felt like my old job wasn't challenging enough and I knew that I had more potential to be discovered at "your firm" and gave specific examples about what I did at my old job and what I expect to do (be careful here, you don't want to be wrong) at the new place.
This is the whole reason you're applying for your current position. Without bashing your previous job/employer, what makes you want this company/job more than your last? That's how you give a good answer: "My last job was great. I want this job even more because X, Y, Z (the people, room to move up, location, fascinated by buy-side of things)."
Sometimes it's a fit issue (you don't fit well in your pants).
Sometimes it's an airport test issue (you sound like you just came from the airport).
Sometimes it's a knowledge issue (you don't know when to stop nodding).
Just went through lateral hiring and got a position at a top IBD for my industry from a tangential area of financial services. Would agree with all of these. Would also add that having a flowing story that shows progression into IB is very important. Spoke to other candidates who had changed jobs 2 times since 2011 etc and did not have a good career progression going.
With employment opportunities being what they are (read: scarce), I am amazed at the lack of preparation on the part of some candidates prior to an interview. There is no excuse for not being able to answer the basic questions; technical and fit questions are one thing, but the basic questions such as "why us" or "describe your current employment role" should be a softball you are ready to knock into another stratosphere.
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