Now that the economy and the markets have regained some stability, the job market for younger advisors is heating up again. That’s a good thing, considering that there seem to be a lot more folks looking for jobs than there have been in recent years. That’s good news if you’re one of those looking for a job, but it also means that competition is heating up as well.
In my experience, young advisors and others with little job hunting experience don’t understand that hiring is largely a screening-out process. That is, businesses that are looking to hire start with a pile of resumes, and begin by looking for reasons to rule out candidates. When they get down to a manageable number, they’ll start doing pre-screening interviews, with an eye to ruling out some more.
For job seekers, that means if there’s anything on your resume that will make it easy for the screeners to reject you, you’ll have one chance to explain why they shouldn’t: your resume cover letter. So you’d better make that letter your best shot.
In your cover letter, you’ll want to highlight your experience and qualifications, but in my experience, there are also three danger areas where saying the wrong thing most assuredly gets you a one-way ticket to rejectionville. The three most common mistakes on a cover letter? They are failing to include reasonable explanations for and clear enunciations of:
the compensation you’re looking for