Online Career Center: Preparing for a Career in Finance

IV. Preparing to Apply

C. Interviewing and Negotiating

  1. The Pre-Interview. If at all possible, try to schedule a pre-interview with the employer offering a position of interest to you. If possible, find out the name of the person who will be making the hiring decision.

    Call him or her and express your interest in the position. Tell the employer that you would like to discuss the position to see if you can get a clearer picture of how your qualifications might match the needs of the position. Ask if you can visit at a time of his or her convenience.

    At the time of the pre-interview, learn as much about the position as possible. When the pre-interview is over, you will know if you want to apply for the position. You will also have a clear picture of the qualifications needed for the position and will know which of your qualifications you should stress. If you have made a good initial impression, your chances for an interview are greatly enhanced.

    If you can meet with the hiring authority or with the chairman of the search committee prior to applying, your chances of getting the interview are greatly increased. The resume and cover letter are designed to get you the interview. The pre-interview heightens your chances.

  2. The Interview. The person who is selected for the position is may not necessarily the most qualified; instead, it is often the person who is the best interviewer. Thus, it makes sense to prepare for the interview. There are several steps in this preparation.

    Answers to potential interview questions need to be prepared before you go to the interview. The best way to prove to someone that you can do the job is to show that person how you have done similar jobs in the past. Thus, most of the answers you give will be stories about what you have done in the past. By creating vivid examples of your past performance, you will persuade the interviewer that you have the skills he or she is seeking.

    Rehearsing for the interview is essential. It is well worth your time to make a list of possible interview questions, prepare your answers to these questions, and then have someone ask you the questions while you respond.

    There are also questions you need to ask. Often the interviewer will judge your abilities by the kinds of questions you ask. Answers to your questions will also provide you with helpful cues as to what the interviewer is seeking in the successful candidate.

    Dressing for success is important if you want to be hired. You need to dress appropriately for the position for which you are applying. The purpose of selecting the proper clothes for the interview is to show the interviewer that you will fit in with the dress code of the company.

    If the function of the resume is to get you the interview, the function of the interview is to get you the job. If you know the answers to as many questions as possible, then you should excel in the interview itself. Sometimes you will be given a question for which you are not prepared. In this case, it is important to be able to think on your feet. Again, your best response is an example that shows how you have handled similar situations in the past.

  3. Post-Interview. What happens after the interview is just as important as what happens during the interview. It is important to thank those persons with whom you met. I suggest a typewritten one-page letter to the hiring authority or the head of the search committee. In this letter you will want to accomplish three goals:

    First, you will want to thank those you met for their time and courtesies and affirm your interest in the position.

    Second, you will want to emphasize your strengths and how they fit the requirements of the position.

    Third, if any of your answers were weak, you now have a chance to strengthen them.

  4. Negotiating Salary and Benefits. Next to getting the job offer, negotiating salary and benefits is the most difficult part of the job search procedure. If you under price yourself, the employer may conclude that you are not as good as you appear to be on your resume and may then disqualify you from further consideration. On the other hand, if your salary request is too high, the employer may either decide that you would not be interested in the position they are offering or that you would not stay long in the position if a higher paying position became available. How do you avoid these two extremes?

    The general rule is that the first person to mention a salary figure loses. As a result, you are advised to avoid naming a specific figure. It would be best to reply that, while salary is important, the opportunities that go with the position and the match with your strengths are more important considerations.

    There are several important steps that you should take before entering the salary negotiation stage:

    If possible, you will want to determine the salary range before you interview for a position. You will feel more comfortable knowing the parameters of the salary range than if you go blindly into an interview.

    When the company does extend an offer to you and after the two of you have agreed upon the salary figure, you may still want to request a few days to review the offer.

    Finally, in evaluating a salary offer, don't forget that benefits, bonuses, vacation days, flextime, and an early evaluation can make a difference in the total salary picture. For example, many companies will offer a sign-on bonus after you have been employed for 90 days. This bonus is one way to increase the basic salary offer. Other perks such as a company car or a performance bonus also serve to increase your salary figure.


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