Friday, March 27, 2009

The Worst Cover Letter

A good cover letter won't guarantee success, but a bad cover letter will guarantee failure, such as this one:

To: Anna Maria D'Souza
Sent: Mon Jan 12 00:40:56 2009
Subject: Seeking for Jobs

Dear Anna
I am currently seeking jobs. Please find attached CV for your reference. Please feel free to call me at 1234-5678


You might not believe, but this is a true email which I received recently. I have decided not to include this candidate into our database.

Author of this cover letter is an analyst of over 10 years expereince. On the resume, his experience doesn't look bad. However, investment banking is a business which requires personality fit and as for analysts, above par English writing skills.

This particular cover letter reflects immature personality and poor writing skills. Though I always go for short - short cover letter, short resume, but please make sure not to write any cover letter as short as this one.

Amazing Cover Letter
Amazing Resume Creator

Tuesday, March 10, 2009

Investment Banking Salary 2009

It is investment banks’ bonus period. So let’s talk about money. In Hong Kong, UBS is said to have cut most of their bankers bonus by 95% comparing to that was paid last year.

Many might doubt in the current financial turmoil that if investment banking is still a tempting job for making big money. Asia Pacific is a dynamic and aggressive market for those who are targeting big. So let’s take a look at what money are the bankers here making. Let’s take Hong Kong as an example.

In our knowledge (among banking headhunters and banking insiders), here is an indication of how much bankers made as of January 2009.

Corporate Finance
Analyst (1-3 years of experience): US$77K – 103K
Associate (3-5 years of experience): US$103K - $128K

Equity Research
Analyst (1-3 years of experience): US$39K – 62K
Associate (3-5 years of experience): US$77K - $103K

These numbers represent annual base salary and guaranteed bonuses. Bankers in Hong Kong make the most comparing to Singapore, Shanghai and Tokyo. Of course the actual number you make will depend on variables like qualifications, experience level, company size, industry sector and job scopes.

So are these numbers attractive? Well, they might not be as attractive as previously. But comparing with entry roles in other fields, it doesn’t look bad at all.

Investment Banking Salary

Monday, March 2, 2009

Cover Letter Tip: "Thank You" Magic

I received this article from Jimmy Sweeny, one of my most admired career-related author. This article is not investment banking focused, but will surely benefit anyone who wants to write an effective cover letter.

The holiday decorations are down. The carolers have put away their songbooks. A new calendar page awaits your comments and appointments and to-do list. It's also time to say thank you to everyone who sent you a gift or a card or a cheery e-mail.

It's also an ideal time to spread your appreciation to your business pursuits and contacts. As you write your cover letter to prospective employers, be sure to tuck in a few words of gratitude for the opportunity to introduce yourself and your skills, even as you ask for an interview for the job you want.

"Gratitude is the rosemary of the heart,"
according to 19th century American writer, Minna Antrim.

Keep in mind that the hiring manager has no obligation to respond to your cover letter. But if you sprinkle your letter with a bit of 'rosemary' he or she won't be able to resist contacting you. Why? Because you will be among the very few who are more concerned with gratitude than greed. You will display your good heart and your interest in others, not just yourself. This small addition to any cover letter will put you in a class by yourself and it will be a signal that you are someone who would be a welcome addition to the company staff.

Some Ways to Say 'Thank you' Within Your Cover Letter

Use clear and simple language in your cover letter to convey your appreciation while at the same time displaying your talent and skills for the job you are interested in.

1. Thank you for taking a moment to consider my cover letter and resume. I appreciate how busy you are.
2. I appreciate the time you give to prospective employees such as me. I do not take it for granted.
3. I welcome a chance to talk with you about my skills and your expectations. Thank you for this opportunity to hear about your company and to share how I might fit into your plans.
4. I appreciate the job application guidelines you provided online. I'd like very much the opportunity to express my thanks in person for making it easy to introduce myself and my background and to find out how I can contribute to your company.

Avoid gushing or being sentimental. Focus on clarity and sincerity. You have what it takes to land the job you want. Make gratitude a high priority and you will succeed.

Jimmy Sweeney is the president of CareerJimmy and author of the new, Amazing Cover Letter. Jimmy is also the author of several career-related books and writes a monthly article titled, “Job-Search Secrets.”

Investment Banking Cover Letter