Professional Documents
Culture Documents
CH 2 : Self assesment 7
CH 3 : Market research and strategy developpement 15
CH 4 : Networking 21
CH 5 : Resumes 31
CH 6 : Job search letters 44
CH 7 : Interviews 53
CH 8 : Offer management 75
9
STEP 1: Self-Assessment
STEP 2: Market Research & Strategy Development
STEP 3: Networking
STEP 4: Resumes
STEP 5: Job Search Letters
STEP 6: Interviews
STEP 7: Offer Management
STEP 8: Starting New Job
STEP 9: Evaluate and incorporate information learned from new position into your career management thought
process
The job search process involves a number of steps or elements that can occur at the same time. For example, you
may complete steps 1-3, then revisit step 1 again while working on steps 4, 5 and even 6. These steps are ideally
repeated several times over the course of a professional career. A successful job search is only part of the
overarching concept of effective career management.
At the core of every successful job search is a process of self-exploration, or self-assessment (see Chapter 2).
Developing a keen understanding of yourself your likes, dislikes, values, interests, etc. and exploring/researching
the marketplace industries, functions, companies in relation to this self-knowledge forms the foundation of your
job search. With this foundation you can formulate your strategy, set goals and make decisions. After these
explorations, you have the necessary tools for the tactical job search steps of networking, writing resumes and job
search letters, interviewing and managing offers.
Chapter 1 | The Job Search Process and Effective Career Management
As the diagram above illustrates, lifelong career management is a continual process that involves:
Knowing yourself (e.g. conducting self-assessment by evaluating your skills, interests, values and goals and
identifying potential career options)
Defining your career roadmap/goals (e.g. creating short and long term goals and developing tangible actions to
meet them)
Building your network of colleagues, business school classmates, mentors, etc. (e.g. recognizing the vast
potential of your network and seeking natural opportunities to build on it)
To pursue effective lifelong career management, it is important to continually reflect on your skills, interests and
priorities, revisit and refine your career roadmap to ensure it still resonates, and nurture your network.
Best Practices in Lifelong Career Management
Work with Mentors
Mentoring can be an invaluable resource. Mentors can expose you to new ideas, share insights and perspectives on
an industry/function/company as well as on your strengths, weaknesses and career trajectory. Mentors can guide you
through job searches and introduce you to new people and resources. Many successful business people have relied
on mentors to provide advice on important career strategies and decisions.
The key characteristic that identifies a good mentor is that he/she has the experience and intelligence to give you
valuable and accurate advice. Mentors can be close friends, acquaintances or even relatives.
A valuable mentorship must be created and nurtured. Identify people who you meet throughout your career whose
opinions you value and invest time in building relationships with them. Let them know how much you appreciate
their knowledge and advice. If you invest the effort, you will likely find that people are willing to help.
Once you have developed mentor relationships, be sure to think strategically about how you leverage the
knowledge, time and advice of your mentors. Use your mentor wisely avoid wasting their time with basic
questions that could be answered by conducting independent research or by asking someone else. Express
appreciation for their time and always keep your mentors informed of key changes or decision in your career path.
Utilize Career Advisors/Life Coaches
Seek the advice of a career advisor or a life coach. Career advisors and life coaches can provide a different
perspective and value than mentors. Advisors can work with you on tactical job search elements such as resume
writing and interview skill development while life coaches support broader explorations such as self-assessment and
career visioning. The fundamental role of the career advisor is to encourage and inform job seekers and provide a
toolbox of practical information and support.
The most effective way to identify a career advisor is through word of mouth, and the most important qualities you
want to look for in an advisor/life coach are trust, confidence and a sense of rapport.
Rely on Colleagues/Friends (e.g. Buddies)
A job search can be stressful; having the support of your family and friends (personal contacts) is very important. In
addition, seek assistance from colleagues/friends when learning more about an industry, identifying potential
networking contacts, revising your resume/cover letters and/or practicing interviewing. Lastly, use these people to
hold you accountable to your career goals.
Build It Before You Need It
Avoid waiting until you are in the midst of a job transition to conduct self-assessment, identify your short and longterm goals, build networking contacts and revise your resume. Each of these steps is time consuming so focus on
them on an on-going basis ensures you are prepared to talk about your career goals and/or share your resume at a
moments notice.
2) Join industry associations, attend speaking engagements and write articles for industry trade or professional
publications
3) Search databases of executive search firms (e.g. careerjournal.com, searchfirm.com, or Kennedy Group,
Directory of Executive Recruiters)
4) Offer to recommend candidates from your own network to help executive recruiters fill a position where
appropriate. Serving as a potential conduit of strong candidates is an excellent way to develop a long term
relationship with an executive recruiter.
Once you have identified a target list of executive search firms, research is required to choose the right firm and
individual consultant. Consider the firms size, capability, and track record as well as the quality of its consultants.
Many firms recommend the best way to approach a firm is to email a resume with cover letter and follow up with a
telephone call. In your follow-up call have your tailored 30-second introduction prepared and attempt to set up an inperson meeting. It is important to recognize that most executive search firms are only interested in job-seekers who
match their current openings and have significant experience in the type of position that the consultant is trying to
fill.
Once you gain entrance to the executive search firm, the process is not a one-way street. Advance your standing by
following the tips below:
Present yourself professionally as if you were on an actual job interview. Know your story and be transparent
about your goals. Executive search firms are not in the business of career coaching
Bring copies of your resumes to any meeting with an executive search firm
Educate yourself on the executive search firm and the client organization
Know the firms areas of expertise
Understand the candidate assessment process used by the client organization and the executive search firm.
Determine precisely how the executive search firm is going to assist you. Have realistic expectations the
process takes time and you are not the only candidate
Negotiate in good faith
Write a thank you note
CONCLUSION
After reading this chapter you should be familiar with the concept of lifelong career management and be ready to
explore the specific steps involved in the job search process.
APPENDIX
Recommended Reading
I Could Do Anything if I Only Knew What it Was: How to Discover What You Really Want and How to Get
It, (Barbara Sher)
Rites of Passage at $100,000 to $1 Million+: Your Insiders Lifetime Guide to Executive Job-Changing and
Faster Career Progress in the 21st Century (John Lucht)
Smart Choices: A Practical Guide to Making Better Decisions (John S. Hammond, Ralph L. Keeney, Howard
Raiffa)
The Pathfinder: How to Choose or Change Your Career for a Lifetime of Satisfaction and Success (Nicholas
Lore)
Working Identity: Unconventional Strategies for Reinventing Your Career, (Herminia Ibarra)
CHAPTER 2: SELF-ASSESSMENT
Overview of Self-Assessment
Conducting Self-Assessment The Guiding Principles
Self-Assessment Tools (CIV, CareerLeader, & MBTI)
Conclusion
Appendix
OVERVIEW OF SELF-ASSESSMENT
What is Self-Assessment?
Self-assessment is the process of learning about yourself an exploration of who you are in terms of your likes and
dislikes as well as your skills and values. Self-assessment can be used to identify an individual job you should
pursue or to better define your career goals. The following framework can guide your comprehensive selfassessment effort:
Identify your competencies
Your skills/knowledge, experiences and traits are your competencies. Can you manage client relationships?
Can you design an effective quantitative model? Are you an expert at derivatives? These are examples of
competencies.
Learn about your interests
Your interests are things you like to do. What excites you? What catches your attention? Whose job do
you most admire? What kinds of books do you read? All of these are indicators of your interest areas.
Understand your values
Your values are what is important to you. What motivates you? Financial rewards, job security, prestige,
challenging work, flexibility, opportunity for advancement? These are all things which motivate job/career
choices.
Evaluate your preferred environment
Understand how/where you work best. What environments do you thrive in and what environments cause
you discomfort and stress? Do you prefer a dynamic collaborative environment where coworkers discuss
things on the spot, or do you prefer to work alone and share the results of your work in written form?
The answers to the above questions come from introspection in combination with the utilization of self-assessment
tools and techniques (see Self-Assessment Tools section of this Chapter).
Why is Self-Assessment Important?
Self-assessment assists with the job search process and enables you to manage your career more effectively over the
long-term. Knowing yourself and the environments in which you thrive as well as applying what you are good at
(competencies), what you like (interests) and what you prioritize (value) will likely lead to a satisfying and
successful career.
Job Search Process
Understanding yourself (your competencies, interests and values as well as your preferred work environment) makes
your job search process effective and efficient. Self-assessment specifically helps you to:
Identify your target industry, function and company (see Chapter 3) when you know yourself, your search
becomes better defined
Craft your story successful networking (see Chapter 4) and interviewing (see Chapter 7) require confident
self-awareness
Chapter 2 | Self-Assessment
Write effective job search letters (see Chapter 6) and resumes (see Chapter 5)
Evaluate job offers and identify the best option for you (see Chapter 8)
In addition, if you are excited about the career you want to pursue, you should find the job search process enjoyable
since you will be researching, learning and talking about an area that you enjoy.
Managing Your Career
Self-assessment is not a one-time tool to help find a specific job; rather, it should be an integral part of your
professional life (see Chapter 1). The awareness gained through ongoing self-assessment practices will impact
choices made in your day-to-day job as well as in your long-term career journey.
While it is true that you can always switch careers, the reality is that the choices you make along the way impact
your future options. All of your career choices matter. It is a myth that certain careers keep all doors open; certain
opportunities are only available at certain times in your career trajectory. When you accept a specific job in a
specific industry/function, you are declining an opportunity to take another job with another company in another
industry/function.
Career management professionals find that clients who choose careers they enjoy tend to be successful because they
are naturally motivated to go above and beyond what is required in the job. As such, consider charting your career
based on a solid foundation of self-assessment and not based solely on the monetary component.
Tip:
1) Try to avoid being overly influenced by the herd mentality. Distinguish between what you want to do and
what other people are doing/want you to do. A career path is right for you if it matches with your
competencies, interests and values. A good career choice for you may not be the most popular career choice
among your classmates/colleagues
Finally, recognize that self-assessment can positively impact your life outside of your career. It helps you interact
more effectively with others and strengthen relationships; skills that are applicable both in and outside the
workplace.
Take time to conduct detailed and honest self-assessment. The time invested to create this foundation will serve
you well during the job search process and well into the future.
Begin the self-assessment process as early as possible. Without thorough self-assessment it will be difficult to
proceed with an effective job search. If you think you have made bad career choices, remember that they are in
the past; do not let regrets keep you from making progress toward your future.
Leverage established self-assessment tools such as Myers-Briggs Type Indicator (MBTI) and CareerLeader
(discussed later in the Self-Assessment Tools section of this Chapter) as well as an analysis of the intersection
of your competencies, interests and values.
Be comprehensive. Combine self-assessment tools with deep reflection and thought to envision the right career
path for you. Ultimately, only you have the power to understand what you are good at, enjoy and feel
comfortable doing as well as to determine your career path (your position/company/industry/function).
Identify a system to track your self-assessment data collection efforts. Tracking key insights from your efforts
in written form will assist you in remembering specific and valuable details. This will save you time, enable you
to remain true to your career direction and help you remain motivated during a challenging job search process.
Conduct self-assessment periodically throughout your career and certainly before you embark on any
transition (e.g. changing positions within a company, changing companies or careers). Reflect on your decisions
and re-evaluate your conclusions to ensure the effectiveness of future decisions. Incorporate new insights about
yourself, newly developed skills and interests and new/revised priorities.
Chapter 2 | Self-Assessment
SELF-ASSESSMENT TOOLS
A variety of tools and techniques are available to assist with the self-assessment process. Each tool is designed for a
different purpose; using a variety of tools will broaden your self-knowledge.
We recommend the following tools/techniques, each of which is described in detail in this section:
Competencies, Interests & Values (CIV) Analysis highlights competencies, interests and values but does not
outline a particular business area match
Myers-Briggs Type Indicator (MBTI) assists you in identifying how you derive energy, receive information,
make decisions and operate in the world (e.g. types of environments in which you might feel comfortable) but
does not recommend a particular career
CareerLeader identifies business areas that match your interests or environments which might be
comfortable for you.
No tool or technique can answer all of your questions about yourself and your career. Rather, the insights provided
by self-assessment tools must be combined with critical thought in order to determine what career (or next step) is
right for you.
Tip:
1) Consider asking friends, colleagues and mentors (people that know you well) for their opinion on your
career options, as discussing these issues may help to clarify your thoughts
Competencies, Interests and Values Analysis (CIV)
What is CIV Analysis?
CIV stands for Competencies, Interests and Values. This tool is a framework to identify the three basic
characteristics that form the foundation of a self-assessment effort. Below are in-depth definitions:
Chapter 2 | Self-Assessment
Examining your competencies, interests, and values will enable you to create an accurate benchmark of where you
are today and design your future career strategy. Thorough analysis will yield the most reliable data and may lead
you to uncover information about yourself that you did not previously acknowledge and to validate information
about yourself that you did not previously take the time to articulate.
In the Appendix you will find a series of exercises which will help you identify your CIVs.
Using CIV Analysis Data
Once you critically evaluate the data you collected from the CIV analysis in the Appendix (many more exercises can
be found in self-assessment books and on the internet) you can capitalize on the intersection of your current
competencies, interests, and values.
Tips:
1) Combine interests. Identify ways you can creatively bring multiple interests into one ideal job. For
example, if you have an interest in classical music and finance, be creative. How can you combine those
two interest areas to create a career option? Consider a career as a financial analyst at the Philadelphia
Philharmonic
2) Recognize that research has shown that interest patterns are the most stable personality trait, so for longterm happiness focus on positions, companies, industries and functions that interest you
3) Identify the values held by your target industries, functions and companies (via market research and
networking see Chapters 3 & 4) and determine if they match yours. Values of companies can often be
assessed by evaluating the firms culture. If your values and the values of the industry or company you
have chosen are not aligned, there will be tension. You will be able to compensate for this imbalance for a
while, but eventually you will feel the effects of values not being aligned
Myers-Briggs Type Indicator (MBTI)
The MBTI tool is a psychological assessment which was originally developed by Katharine Briggs and Isabel
Briggs Myers based on the ideas and theories of psychologist Carl Jung. The tool was designed for the purpose of
understanding personality preferences to help women who were entering the industrial workforce for the first time.
After more than 50 years, the MBTI assessment is now used to understand individual differences and uncover
new ways to work and interact with others. Many educational institutions and organizations use MBTI to help
students and employees identify how they derive energy, take in information, make decisions and operate in the
world.
Using MBTI
Current MBA students can access the MBTI instrument though the Wharton student career management website.
It is recommended that you set aside approximately 30 minutes to complete this assessment tool. Your results must
Chapter 2 | Self-Assessment
be delivered in person or by phone through an interactive feedback discussion with a qualified practitioner. All
MBA Career Management advisors are qualified practitioners.
The CareerLeader Program
CareerLeader is a business career self-assessment program, developed by Dr. Timothy Butler, Director of MBA
Career Development Programs at Harvard Business School, and Dr. James Waldroop, his associate at HBS for 18
years. It is used by many schools and students to help them with their career decisions. CareerLeader is made up
of a number of proprietary tests including the Business Career Interest Inventory (BCII), the Management and
Professional Reward Profile (MPRP), and the Management and Professional Abilities Profile (MPAP). The program
processes your answers to create a list of recommended career paths as well as an assessment of potential career
breakdowns.
CareerLeader is designed to:
Give you an assessment of your unique pattern of business-relevant interests, values and abilities
Integrate your results and recommend particular career paths that are likely to be your best career path matches
and provide the reason for recommended match
Rate your entrepreneurial attributes
Provide you with in-depth views into 30 business career paths, including information about the interests,
rewards and abilities associated with each one
Help you to understand key elements of corporate culture and how you will fit in with each
Using CareerLeader
Current MBA students can access CareerLeader though the Wharton student career management website. It is
recommended that you set aside approximately two uninterrupted hours to complete this assessment, although it
usually takes just over an hour. As soon as you have completed the tool, you will have access to the results which
include the CareerLeader Professional Report with both a Narrative Section and your Test Scores. The
Professional Report highlights your key characteristics, your best career path matches and your complete assessment
results as well as recommended next steps.
CONCLUSION
After reading this chapter you should have a better understanding of why self-assessment is an important first step in
the job search process and how it can impact your lifelong career. Once you have started the self-assessment
process, use your newfound self-awareness to help you compose dynamic and targeted resumes and job search
letters. You will find that the knowledge gained through the self-assessment process will benefit you during
interviews as well as during offer evaluation processes. Finally, remember that the self-assessment process is never
complete it is an evolving journey.
APPENDIX
CIV Sample Exercises
Avoid getting stuck in analyzing whether a certain experience, fact, or piece of data belongs in the Competencies,
Interests, or Values category. Some items may fit in more than one grouping. The goal is to get data.
Tip:
If you are having trouble completing any of the exercises below, try one or all of the following:
Stop doing the exercises and get away from them for a few days
Review previous performance evaluations
Ask current or former colleagues for assistance. What do they think are your CIVs?
Review the career-related books listed in the Appendix of this Chapter
Chapter 2 | Self-Assessment
Take a career assessment tool such as the MBTI or CareerLeader (see MBTI and
CareerLeader sections of this Chapter)
Seek the assistance of a career advisor
Do Not Enjoy
Skilled
Not Skilled
Chapter 2 | Self-Assessment
indicate percentage of time you spend using each of the skills. Use the second pie chart to highlight the skill mix you
want in your next job or career. Evaluate your results. How similar or different are the two pie charts?
Exercise #4: Identifying Accomplishments
Brainstorm a list (at least 10) of your career and non-career related accomplishments (e.g. created a model that
tracked receivables more accurately, wrote a great press release, recommended a change in the way compensation
was awarded). Your accomplishments do not have to be epic. Any accomplishment can give you insight into the
skills you possess. After brainstorming, pick 5-6 accomplishments and write a few paragraphs describing each
accomplishment. Then, analyze the skills used as part of those accomplishments.
Identifying Your Interests
Below are three exercises to help you identify and assess your interests. It is important to recognize that some of
your interests will be strong and clear (e.g. I love to manage people), while other interests will not be as clear
because you have not had exposure to these areas (e.g. I think I would like to work on a team).
Exercise #1: Interest Generation
Identify what work, volunteer or non-work related activities excite you and write about them. The below questions
can help generate ideas about what excites you.
When you visit a library or bookstore, what types of books or magazines are you drawn toward?
When you read the newspaper or watch television, what types of things catch your attention?
What industries are appealing to you?
If you could have any job in the world, what would it be? Why?
If you could work on any project area at your current or past employer, what area would you select?
Exercise #2: Interest Identification
Graph your lifeline with time on the X-axis and happiness on the Y-axis. What was going on inside or outside of
work during the times you were happiest? What was interesting/satisfying about these times?
Identifying Your Values
Below are four exercises to help you identify your values. As you complete these exercises be honest with yourself.
It is easy to be attracted to things which a lot of people value (e.g. working for a prestigious firm, owning your own
company, or making a lot of money) but stay true to your own values.
Exercise #1: Idealize your Next Job
List five elements you must have in your next job. List five elements you absolutely do not want in your next job.
Exercise #2: Envision your Legacy
How do you want to be remembered? What did you accomplish in your lifetime? If you had one year to live what
three things would you want to accomplish before you die? Write your obituary.
Exercise #3: Articulate your Professional Journey
Make a list of the career decisions/job changes you have made in your life. What values were driving each of those
decisions? Is there a pattern? Were you true to what you really wanted? Were you happy with your decisions? If not,
why? Summarize your results.
Exercise #4: Value Trade-offs
Once you have identified your values it is important to prioritize them so you can easily understand how a potential
job fits with or challenges your value system. Organize your values into 3 categories: 1) values that must be met,
2) values that should be met, and 3) values that should do not have to be met. The values you place in the first
category those that are never negotiable are the ones you must be aware of as you engage in your job search and
determine if a potential position/company is right for you.
Chapter 2 | Self-Assessment
Recommended Reading
Back in Control: How to Stay Sane, Productive, and Inspired in Your Career Transition (Diane Grimard
Wilson)
Career Counselor's Handbook (Richard Nelson Bolles & Howard Figler)
Discover What You're Best At (Linda Gale)
Discovering Your Career In Business (James Waldrup & Timothy Butler)
Do What You Are: Discover the Perfect Career for You Through the Secrets of Personality Type (Paul D.
Tieger and Barbara Barron-Tieger)
Finding Your Perfect Work (Paul Edwards & Sara Edwards)
Getting Unstuck: How Dead Ends Become New Paths (Timothy Butler)
I Could Do Anything If I Only Knew What It Was: How to Discover What You Really Want and How to Get It
(Barbara Sher)
Live the Life You Love: In Ten Easy Step-By Step Lessons (Barbara Sher)
What Color Is Your Parachute? 2008: A Practical Manual for Job-hunters and Career-Changers (Richard
Nelson Bolles)
Websites and Online Subscriptions
DISC Profile (www.discprofile.com)
Keirsey Temperament Sorter (www.keirsey.com)
Lawler Kangs Passion at Work (www.lawlerkang.com)
MAPP (www.assessment.com)
Strong Interest Inventory (www.cpp.com/products/strong/index.asp)
The Birkman Method resolution (www.birkman.com)
On the Wharton MBA Career Management Website
Career Leader
Myers-Briggs Type Indicator (MBTI)
Chapter 2 | Self-Assessment
After exploring self-assessment (see Chapter 2), the next foundational step in the job search process is to research
industry(s) of interest and develop your job search strategy. The specific steps required for both market research and
strategy development depend on your particular situation (e.g. your industry of interest, your prior level of market
place knowledge and your familiarity with the job search process); therefore, the amount of time required to
complete these steps will vary. In addition, as with self-assessment, market research and strategy development
efforts continue throughout the job search process (and even after you have accepted a new position).
search process. In addition, the Appendix has a listing of potential resources for non-industry-specific secondary
research.
Ideally, market research should be a combination of both primary and secondary research efforts.
How long has this company been in existence and what are the long-term plans for growth?
What does the company consider its most important assets?
How does the company compare to its competitors?
Position Questions
What would an average day at work look like? What would I be expected to do during an average day, week,
month at work? Are the day-to-day tasks routine or project oriented? Individual or team? What is the degree of
independence? Degree of intensity? Amount of travel? Amount and type of training? Does the company give
you a variety of experiences in different divisions/products/business situations? What is this individuals
personal experience? What challenges/opportunities has he/she faced? How much impact can a new employee
have on the business?
Think: Can I see myself doing this type of work? Does it fit with my skills, interest and values? What
percentage of the work involves skills you do not yet have? What effort will it take to learn these?
What attributes do people successful in this position possess? What attributes allow someone to excel in this
industry? What attributes are considered to be weaknesses? What are common likes/dislikes about the job?
Think: Do I have these strengths or weaknesses? Am I a target employee?
What opportunities will this industry/function/company open for me now/in the future? What opportunities
does it close for me now/in the future? Is senior management promoted from within or outside hires? What
functions do they come from? How strong is the Wharton alumni network at the company?
As you engage in this market research, be attuned to how you respond to what you learn. Being excited and
energized by what you discover is a positive sign that you may be interested in that industry/function/position.
Once you have a fairly clear idea of your target industry, you can narrow the focus of your market research efforts
by evaluating the following questions:
Are you sure this is the right career path for you?
Are there other related fields that you have not yet considered that warrant consideration?
What companies/positions in this industry offer the best opportunity for you?
How does this industry operate? What is the best approach for your job search? How can you become an
insider?
Once you have targeted a specific industry, use your market research to prepare for the subsequent steps in the job
search process (e.g. networking, resume writing, cover letter writing and interviewing). Ask questions to confirm
your knowledge and/or build your target list of companies and contacts.
Tips:
1) Review potential interview questions for your target industry to gather insight into the type of information
you will be expected to know for an interview
2) Read industry magazines and newspapers to learn about the industry and to identify what others in the
industry know and what you will be expected to know
3) Review questions (see Chapter 8 Appendix) which may help you evaluate a potential opportunity
STEP 1: Create a timeline for your job search process. Estimate the amount of time required to complete various
steps in the job search (including follow-up) and set realistic goals. Consider setting overarching goals as well as
mini-goals to guide you along the way.
Tips:
1) Identify a way to track your progress and manage/organize your data. Record who you called, what was
said, what you know about a company, who you know at the company, etc
2) Consider finding a job search buddy a friend who can keep you on track, hold you accountable, serve
as a sounding board and offer ideas
STEP 2: Brainstorm to create a target list of companies in your chosen industry (within your geographic restrictions,
if any exist). Decide which companies to contact and prioritize them. Try to have approximately 10 active
companies (e.g. those you are interested in and are pursuing) in your search. When an active company becomes
inactive, replace it with a new company from your target list. Ideally, you always have active companies at different
stages of the process.
To help you prioritize your target company list, ask the following questions:
What companies am I most interested in? Why?
Which ones will I contact first? Which ones will I leave for the end? Why?
Tips:
1) Use Google (or other online search engines) to identify potential companies of interest. Type a
description of your target industry into Google and review the results
2) Search business databases such as Factiva, Lexis Nexis, Capital IQ, Dunn & Bradstreets Million Dollar
Database, Hoovers, Multex, ZoomInfo and Investext Plus
3) Read trade magazines
4) Attend conferences and make note of companies represented through panels, speakers and sponsorship
5) Gather company information from friends and former colleagues who are familiar with your target industry
6) Current Students: Review the Company List in CareerPath
STEP 3: Develop a networking plan for each target company. Identify contacts and develop a timeline for reaching
out to these contacts (see Chapter 4). The purpose of speaking with networking contacts is to help evaluate your
level of interest in the individual companies, to learn more about the industry and to identify possible job leads.
Tips:
1)
2)
3)
4)
5)
Ask former colleagues for referrals (and be sure to follow-up in a timely fashion)
Search your undergraduate alumni database and Whartons alumni database for contacts
Use LinkedIn, Facebook, MySpace and other social networking sites to identify potential contacts
Join professional industry associations; attend professional conferences
Current Students: Search Whartons Facebook, the Resume Book Archive, Full-Time and Intern Directory,
Wharton Summer Job Survey and Peer Network
STEP 4: Identify job leads and begin networking. Job leads can be divided into two categories: hidden and
advertised. You should take advantage of both types of leads. Hidden job leads are those that are found through the
networking process (see Chapter 4) and are often not advertised. Advertised job leads are those that are posted on
Whartons CareerPath system or Job Board, online job boards (See Appendix for sample listing), a companys
website or by executive search firms. (Note: Executive Search firms are typically not effective for current MBAs
who lack significant work experience and/or who are planning on changing functions/industries see Chapter 1).
Your earlier market research should have helped you identify the primary means of finding job leads in your
industry.
Tips:
1) Create a strategy for checking the various and appropriate job source platforms on a regular basis (e.g.
check all appropriate online job boards every Sunday night so you do not miss any new postings)
2) Avoid the black hole of the internet. When applying for appropriate online job postings use your prior
research and leverage your network to ensure your resume is noticed
Chapter 3 | Market Research & Strategy Development
3) Make sure your friends and associates are aware that you are engaged in a job search (and make sure they
know what industry or position you are seeking) so that they can send you referrals or job opportunities that
might be of interest to you
STEP 5: Determine the appropriate number (and focus) of resumes you will need to conduct your job search.
Resumes tailored to your target industry and even target function are most effective (See Chapter 5); it may be
necessary to have more than one version.
STEP 6: Begin preparing for cover letter writing (see Chapter 6) and interviewing (see Chapter 7). You can organize
your market research to help you compose strategically focused cover letters and to create materials you can use to
practice for successful interviews.
CONCLUSION
After conducting market research, you should know which industries and functions interest you. Your target list of
industries, companies and positions should be prioritized. The knowledge you gain from this research helps form a
focused and productive approach to the next steps of the job search.
APPENDIX
Below are some of the most popular resources that contain information on a variety of industries. For resources
specific to an industry, seek the advice of someone with experience in that industry. Many of these resources are feebased, but are available to current students via the Lippincott Library and/or the MBA Career Management student
website.
Recommended Reading
Encyclopedia of Associations
Financial Times (www.ft.com)
MBA Jungle
The Economist
Wall Street Journal (www.wsj.com)
Websites and Online Subscriptions
Market Research and Strategy Development
Career Journal (www.careerjournal.com)
Corporate Information (www.corporateinfo.com)
Forester Research (www.forester.com)
Global Workplace (www.global-workplace.com)
Hoovers (www.hoovers.com)
Individual Companys websites
OneSource (www.onesource.com)
Plunkett Research (www.plunkettresearchonline.com)
ProQuest (www.proquest.com)
Quint Careers (www.quintcareers.com)
Riley Guide (www.rileyguide.com)
Thomson Reuters (www.thomsonreuters.com)
Uniworld (www.uniworld.com)
Job Leads
6 Figure Job (www.6figurejobs.com)
Career Journal (www.careerjournal.com)
Individual Companys websites
Chapter 3 | Market Research & Strategy Development
Ladders (www.theladders.com)
MBA Direct (www.mbadirect.com)
MBA Exchange (www.mba-exchange.com)
Monster (www.monster.com)
CHAPTER 4: NETWORKING
What is Networking?
Guidelines for Effective Networking
Successful Preparation
How to Network (e.g. identifying and approaching contacts)
Conclusion
Appendix
WHAT IS NETWORKING?
Networking is a common term used to describe the act of engaging in conversations to build relationships, gather
information and identify potential opportunities over the course of your professional career. Networking can occur
in many forms, including:
Informational meetings/informational interviews arranged for the specific purpose of learning about an industry
or company
Meeting people at conferences, presentations, career fairs and business meetings
Engaging in conversations arranged through personal or professional referrals
Networking can be used throughout your career as a tool for professional growth and advancement. It can also be
used during job search periods to:
Conduct market research to determine if an industry/company is the right fit (see Chapter 3)
Build a business/professional network by developing relationships in a specific industry
Identify open positions and/or job leads that may not be publicly listed (According to the U.S. Bureau of Labor
and Statistics, research shows that approximately 70-75% of jobs are found through networking versus
responding to a job posting)
Demonstrate interest in a specific industry/function/company
Prepare for job applications (resumes and cover letters see Chapters 5 & 6 and interviews see Chapter 7)
Follow up on an application to a posted position
Evaluate potential career options as well as job offers (see Chapter 8)
The most effective networking starts with people with whom you have strong relationships. Avoid waiting until you
need the network to build it. Invest time in building a strong network of people (former colleagues, classmates, etc.)
from whom you can draw upon throughout your career. Successful networking requires a focus on building personal
relationships, not just asking for a job. Be prepared to offer your own time and attention to your contacts; avoid only
leaning on them when you are in need. Showing concern and interest in others will help build the credibility and
trust that is required for establishing an effective network.
Define realistic goals which allow you to celebrate milestones during the job search process and set you up for
success. Consider the following questions to help identify your goals:
Why am I contacting this person in particular, and not another person with similar experience? Am I interested
in establishing a relationship or only seeking information?
What are my priorities? What are my primary/secondary motives?
Are these goals reasonable with this person, in this amount of time, in this situation? What goals are
unreasonable in this situation and why? Are there other methods I can use to accomplish these goals?
For example, a realistic goal from an individual networking meeting may be to obtain the name of one new
networking contact or an additional resource to review. It is unrealistic to expect that each networking conversation
will turn into a job opportunity. After setting realistic goals, it may be helpful to record them on paper.
A Note about the common fear of networking:
Taking the time to prepare for a successful networking experience will reduce the anxiety that can accompany this
task. The idea of contacting strangers or people you have not spoken with in a long time to ask for something when
you do not have something to offer in return can be intimidating. It can be difficult to understand why a contact
would want to help. Shift your mindset. Focus on understanding the purpose of your networking as well as the
opportunity for the networking contact; using ones knowledge, expertise, or power to help someone is most often a
positive experience.
SUCCESSFUL PREPARATION
Step-by-Step Informational Meeting Preparation
Prepare for an informational meeting in the same manner you would prepare for an actual interview.
STEP 1: Conduct market research (see Chapter 3)
Understand the industry, company; and MBA-level functional positions
Research the contacts function, position and background
Consider identifying Wharton students/former colleagues who worked for the firm in the past. If possible, talk
with them prior to engaging the firm. They can provide you with information regarding best practices for
approaching the company
STEP 2: Create your story (Chapter 7)
Articulate why you are interested in gathering information about the industry/company/position
Identify 2-3 key messages about you, your qualifications and interests that you want to communicate. Focus on
things about yourself that would be interesting to the person. You will not sell yourself by talking about the
impressive things you have done which do not interest him/her.
Thoroughly prepare and practice your 30-second pitch (see Prepare your 30-Second Pitch section of this
Chapter)
STEP 3: Organize an agenda (see Approaching Contacts section of this Chapter)
STEP 4: Develop strategic questions you plan to address during the meeting (see Appendix)
Prepare enough questions to fill the entire scheduled meeting time
Show you conducted background research ask specific (not general or open-ended) questions
Target your questions to the person with whom you are speaking (e.g. recruiting questions should be reserved
for human resource professionals, high level strategic questions/long-term career perspective questions should
be asked of senior management, questions about day-to-day responsibilities should be asked of employees
currently in the role you are seeking)
Avoid questions that someone could answer with a simple yes or no
Never ask questions that you can find answers to on the companys website
Chapter 4 | Networking
STEP 5: Identify successive potential networking contacts as well as the best methods for approaching these
contacts (see How to Network section of this Chapter)
Effective preparation will enable you to:
Leverage the time allotted for the networking meeting
Demonstrate your knowledge of the industry
Build confidence (which can lead to clear and succinct communications and strong body language)
Anticipate potential questions you may be asked
Achieving an effective meeting will increase the likelihood that the contact will share referrals and be interested in
developing a long-term relationship with you.
Prepare your 30-Second Pitch
An effective 30-second pitch shares information about your past as well as your career goals moving forward. This
pitch provides a quick overview of who you are and what type of experience you are seeking. In addition,
condensing your goals into 30 seconds helps clarify your goals and message. A 30-second pitch should include:
To help you formulate your own 30-second pitch, review the examples listed below.
Example 1:
Prior to Wharton I worked in the operations department for XYZ Corp. Through my experience in the automotive
industry, I became extremely interested in the development of alternative energy sources and its impact on the auto
industry. I believe my operations background, along with my concentration in Strategic Management at Wharton, is
ideally suited for a career in energy strategy. I would really appreciate a moment of your time so that I could learn a
little about where you think the industry is heading in the next 5 10 years.
Example 2:
I am a first year Wharton MBA majoring in Finance with six years of experience as a software engineer. I managed
the team at XYZ Software that developed a new product that grew to over 50% of company revenues in two years.
Given the first-mover advantage in the market, we worked under extremely tight deadlines to release the product
before competition, and succeeded through hard work and long hours to release a high quality product on time and
on budget. My experience demonstrates my ability to thrive and succeed in high pressure, time sensitive
environments while conducting detail-oriented, analytical work. I am confident that this would translate to success
in Investment Banking.
Example 3:
I am a first year Wharton MBA with management consulting and venture capital experience, mainly focused in
communications technology. As a VC Associate I evaluated the market demand for over 200 prospective technology
investments, and as an associate consultant with XYZ, I advised a client on a successful entry into a new wireless
PDA market. I am seeking a business analyst internship with a top technology company to leverage my experience
in technology, strategy and market analysis.
Example 4:
I am a Wharton MBA marketing major with over five years of experience in marketing communications. Most
recently I was at a leading advertising agency directing eight accounts with billings of over $20 million. I was also
Chapter 4 | Networking
selected by my firm for a fast-track management training program. With my experience in the advertising field, and
broader marketing training at Wharton, I am confident that I will be an effective contributor to a summer internship
in brand management. Your firms brand management internship program has an excellent reputation. I would like
to follow up with you to discuss the program in more detail. May I call you next week to follow up?
NOTE: For Wharton students seeking full-time employment after the completion of an internship, it can be helpful
to tweak your 30-second pitch to include:
What you did over the summer? Include your major internship accomplishments
Why are you not going back to your summer employer? Avoid speaking negatively about your former
employer focus only on what you are looking for in your next role
Whats next? How does your summer experience and background qualify you for this new role you are
targeting? Include your value proposition to the company/industry you are targeting
The two sample post-Wharton summer internship pitches listed below highlight how to position your summer
experience if you want to stay within the same industry (Ex. 1) and if you want to move to another industry (Ex. 2).
Example 1:
I am a second year MBA. My summer internship was with XXX where I worked with a beverage client, identifying
$10M in cost savings opportunity. I had a great experience at XXX, and have an offer to go back. While I am
considering that, I am speaking with a few select consulting firms that I didnt get the chance to meet last year. Since
Im committed to a consulting career, I want to choose the firm where my skills and working style fit best. My
classmate Stewart spent the summer at ABC and encouraged me to speak with you. We have worked on many team
projects together, and he thought I would be an excellent fit at ABC given my approach and consulting experience
with XXX.
Example 2:
I am a second year MBA. My summer internship was with XXX where I worked with a beverage client, identifying
$10M in cost savings opportunity. I had a great experience at XXX, and have an offer to go back. That said I would
like to work in a company where I can use my strategic analysis skills to identify solutions and be a part the internal
company implementing those solutions. Id like to work in the strategy group at a great brand like XYZ. In strategy
consulting this summer I used analytical tools to make a bottom line improvement at a client, and have heard that
XYZs strategy group uses a similar approach.
Tip: Be sure to practice your pitch so that it sounds natural and not robotic.
HOW TO NETWORK
Identifying Contacts
Potential networking contacts come from a variety of sources including:
Friends and current/past colleagues - start with people currently closest to you and move to those from your
past. Do not neglect past relationships, as they can have meaning and are a good resource from which to draw.
Brainstorm an exhaustive list you do not necessarily have to contact each person you identify
Alumni Associations (Wharton, undergraduate institution, previous employer, etc) - alumni are often loyal to
their institution/employer and tend to be willing to help fellow alumni even those with whom they have never
spoken (see Approaching Contacts section of this Chapter)
Professors - many faculty have relationships with corporations and may be willing to share contacts and
information
Conferences - attending conferences in your area of interest is an excellent way to meet networking contacts
Associations - join groups and attend and volunteer at events. Volunteering is a great way to build strong
relationships. If you help out others it is likely they will help you in the future
Chapter 4 | Networking
Trade Literature - read magazines, periodicals and other materials related to your area of interest. Use these
resources to identify organizations, events, websites and people in the industry
Online Networking Sites - utilize networking websites such as LinkedIn and Facebook.com
If you are seeking employment outside of your home country, connect with people from your home country who are
employed in your target geography. People from the same country of origin as you may be willing to assist you
regardless of your target industry and can share potential challenges and methods for overcoming those challenges.
Determining Who to Contact and When
Prior to reaching out to potential networking contacts, develop a strategy (based upon your goals) for determining
who to contact first and how to leverage your time effectively. Below are some strategies to guide your prioritization
of contacts:
Proximity how close you are to the contact
Power the amount of decision-making authority the contact possesses
Expertise the amount of knowledge/information the contact possesses
Interest your desire to gather information from the contact (and desire to work for contacts employer)
Use proximity to your advantage and get referred. Ask friends for recommendations. A warm contact/warm
introduction is always better than a cold call (e.g. contacting someone who you have never spoken to before and to
whom you have not been referred). While contacts with whom you have the closest proximity are most likely to
respond to your inquiry, it can also be effective to first contact companies which are low on your priority list. These
can provide opportunities for you to experience networking in a low-risk environment.
Approaching Contacts
While the specifics of your approach are dependent upon the situation (e.g. a scheduled networking meeting versus
an impromptu discussion at a conference), there are some strategies which will work in any situation to increase the
productivity of your conversation.
If you are asking for a scheduled networking meeting (e.g. informational meeting), start with a well-crafted email.
The short and targeted content of the email should:
Introduce you. Who are you? Where are you from?
Consider including a version of your 30-second pitch (see Prepare your 30-Second Pitch section above)
Explain how you got his/her name and contact information
Did someone refer you? Did you meet at a conference? Did you find his/her name on the Wharton Alumni
Database?
Explain what you want and why you are asking for help
Propose a time to talk. Detail when you will follow up (mark it on your calendar so you do not forget)
Set a reasonable time limit for the initial conversation
If you are contacting someone who you do not personally know, request only 15 minutes. If they know they
will only have to talk to you for a limited amount of time, they are more likely to take your call. If you
develop a good rapport during the conversation you can ask to schedule additional time
If you are confident that the person will want to speak to you, asking for 30 minutes is a good guideline
(assuming you need and can effectively use that much time).
Be appreciative
Tips:
1) Use a detailed, descriptive and direct subject line. A subject line catches a persons attention and
communicates that you have a good reason to make contact, making it more likely that the email will be
opened
Consider a subject line such as referral from Mr. X (assuming the person knows Mr. X)
Avoid using networking conversation as a subject line
2) Include the original email text from the person who referred you indicating you should contact this
particular person (if that is how your referral was received)
Chapter 4 | Networking
3) Make reference to previous conversations you have had with this person to remind him/her of who you are
and what subjects you may have already covered
4) Do not attach your resume. A resume communicates that you are looking for a job and the person may not
respond if they feel you intend to pressure them for a job
5) Do not get discouraged if you do not get an immediate response. It is possible that the person wants to help
you but has not found the time to respond to your email
6) Be courteous but diligent. If you have not heard back from a person, wait 5-10 business days and try again.
Try to reach out using a different medium (e.g. phone versus email) and at a different time of the day. If
you get the persons voicemail, be specific regarding when you will call them back if you do not hear from
them. If you speak with the persons assistant, clearly explain your needs to them. It is acceptable practice
to reach out three times before presuming that the contact is not available to speak with you.
Sample introduction email text could include:
Example 1:
Subject Line: Met at Wharton Marketing Conference Looking to Continue Conversation
Dear John,
My name is Holly Jones and I am a first year student at Wharton. We met at the Marketing Conference at Wharton
last October (we sat at the same table during the lunch keynote speaker, Mike Harrison from XXX). As I mentioned
during our brief lunchtime conversation, I am passionate about the healthcare industry and was excited to hear that
you transitioned from consulting to brand marketing after graduating from business school. I would love to talk with
you for 20-30 minutes about your transition and career at ABC Company.
Prior to coming to Wharton, I was a consultant with XYZ Company [continue using a version of your pitch]
Talking on a Friday would be ideal for me because there are no classes scheduled. I am available November 14th
between 10:00 am and 2:00 pm and November 21st between 7:00 am and 4:30 pm. If Fridays are not good for you,
please let me know what time/date works and I will adjust my schedule. If I do not hear from you by XXXX, I will
give you a call. In the meantime please do not hesitate to contact me at 215-XXX-XXXX or
holly.jones@wharton.upenn.edu.
I would be greatly appreciative of any time that you might be able to give me.
Thank you.
Holly
Example 2:
Subject Line: Referred by Jonathan Hopkins (from ABC Corporation)
Dear Chris,
My name is Leslie Johnson and I am a second year MBA at the Wharton School. My former supervisor at ABC
Corporation, Jonathan Hopkins, recommended I reach out to you to get your insights on XXXX. I am interested in
transitioning into a career in the media & entertainment industry (with a specific focus on television).
Prior to Wharton, I XXXXXX [continue using a version of your pitch]
I plan to be in Los Angeles the week of November 14th and would love to invite you to coffee for 15-20 minutes to
discuss your perspective on XXXX. I will call you next Thursday to see if we can set up a time to talk. In the
meantime please feel free to reach me at 215-XXX-XXXX or leslie.johnson@wharton.upenn.edu. Thank you very
much for your time.
Chapter 4 | Networking
Best,
Leslie
If you are at a networking event (such as conference or presentation), focus on developing higher quality
connections with fewer individuals rather than superficial connections every company representative. In these
situations, quality wins over quantity. If you make a connection with one person it is highly likely that he/she will
help you out after your conversation (by either being an advocate for you in the company or helping you with other
contacts, etc.). If you meet many people but do not make a real connection with any of them, it is likely that none of
them will help you out in the future.
Conducting the Informational Meeting
Informational meetings are meetings initiated and scheduled by you which enable you to learn about a specific
industry/company/position (and potentially identify job leads). Below is a suggested agenda.
PART I: Opening
Establish a common bond. Explain who referred you. Build a rapport as quickly and succinctly as possible
Re-state the objective of the meeting
Give your 30 second pitch (see Successful Preparation section)
PART II: Discussion
Ask prepared and tailored questions (see Appendix)
Listen; gather advice/insights
During the conversation try to identify if there is an employment opportunity for you (whether from an existing open
position or if a position could be created for you). Carefully consider whether it is wise to broach the topic of
employment with their firm. If it is appropriate to discuss employment, be creative in your approach.
For Wharton students seeking an internship, look for opportunities to leverage your particular skills in relation to a
specific problem/challenge facing your contact and/or the company. For example, highlight your ability to conduct
research/write a report on specified area of business. Listen closely for opportunities to offer help in taking on a
project or creating a solution. Ingenuity and initiative can go a long way. This strategy would be most effective in a
small company that may not have the resources to hire an intern but that would welcome short-term help (you
benefit by gaining valuable experience).
PART III: Closing
Ask for additional contacts/referrals (i.e. Can you recommend anyone else I should speak with?)
Ask the individual if you can contact him/her in the future
Thank the individual. (e.g. Thank you so much for taking the time to speak with me today about your industry.
I will keep you updated on my status as well as my discussion with Mary Jones. I hope I can refer back to you
in the future if I have additional questions. Thanks again.
Leveraging the Conversation
Based on feedback from employers and alumni, following are the best practices for using networking conversations
to your advantage.
Take responsibility for guiding the meeting (but demonstrate enough flexibility to adapt to the needs of your
contact remember, this is a conversation)
Be an active listener. Do more listening than talking. Avoid talking excessively about yourself or interrupting
the speaker. Determine if there is a deeper message underlying the contacts words
Focus on the person, not just the company and industry. Most contacts appreciate when people take time to
show genuine interest in them and their experiences
Help your contacts help you. Be open and transparent about your needs. Explain key things about yourself and
your situation that help the contact truly understand your needs
Chapter 4 | Networking
Appeal to the contacts expert status (e.g. you are the only one that can answer this). People like to be
needed, appreciated and valued
Be conscious of how you are being perceived during the conversation. You do not want to change who you are,
but you may need to adjust your style to adapt to a particular situation
Be enthusiastic even if the person you are talking to is not. Avoid being aggressive. You want to show your
interest, but you also want to communicate that you are highly qualified, calm and focused
Be ethical. Be honest and tell the truth. Lying and acting in an unethical manner can not only permanently
damage a relationship, but permanently damage your reputation
Take notes during the conversation. This will help you track key insights learned about an industry/company
and will allow you to write a personalized thank you note
Etiquette
Be sure that your behavior communicates your professionalism and your abilities. Be courteous and respectfully
limit the conversation to the amount of time that the contact originally agreed upon. If you would like more time,
tell the contact you know the allotted time is up but ask for a few additional minutes. Lastly, demonstrate your
sincere appreciation. This will increase the likelihood that the contact will share contacts and think of you for future
opportunities.
NOTE: When networking, it is important to understand the local culture so as to avoid miscommunication. If you
are seeking employment outside of your home country, learn the culture of your target geography and adjust to it.
Tips (for the United States):
1) Call/Arrive on time. If circumstances arise and you are going to be late, call to inform your contact. When
attending a Wharton recruiting event (presentation/panel/meeting), recruiters find latecomers disruptive and
generally take note of those who do
2) Treat every member of the company with respect. Be careful that your actions never make anyone from the
company feel unimportant. You never know what power someone has behind the scenes
3) Dress appropriately (for in-person meetings). Business casual is usually a safe choice for networking
meetings. Conduct market research to determine the appropriate dress for your target industry
4) Turn off your cell phone. Cell phones are a distraction and can demonstrate a lack of respect
5) Display good manners. If you are going to get a drink for yourself, offer to get a drink for those around
you. If you are at a professional dinner, remember that the point of dinner is to get to know the person
across the table, not to eat the meal. Do not be overly picky when ordering or let your eating take
precedence over listening and speaking
Body Language and Demeanor
Body language is a critical part of networking (or any interaction) and impacts peoples impressions of you. In fact,
research has shown that peoples opinions of others are more influenced by a persons body language than by their
words.
Tips:
1) Be confident in yourself and your abilities
2) Speak slowly, clearly and with enough volume to be heard
3) Make eye contact, maintain good posture and smile. Body language matters even during telephone
conversations. Smiling when talking on the phone makes your voice sound more energetic and
communicates enthusiasm. Having good posture helps you maintain consistent and calm breathing
Following-Up
Following up and communicating your gratitude does not require a significant amount of time but is essential in
developing and maintaining strong relationships. Develop a system for tracking your contacts so that it is easy for
you to determine when you last spoke/emailed and what you discussed. When a contact takes time to help you and
you do not follow up, you have done a disservice to yourself (and other Wharton students/alums). Not only will that
contact feel unappreciated but likely will not be willing to help you in the future, and he/she may notify other
potential contacts of your behavior and be hesitant to help other Wharton students in the future.
Chapter 4 | Networking
The most obvious way to follow up after a conversation is to send a thank you note/email (within 24-48 hours). In
addition to sending a thank you note, it is wise to follow up with the person periodically in the future, when
appropriate (e.g. if you read an article that relates to your conversation, after you speak with the referred contact,
when you accept a new position or something in your career-related life changes). Keeping in touch with the contact
will make him/her feel that you valued their advice and perspective, and will help your name come to mind for
potential leads/positions.
CONCLUSION
After reading this chapter you should better understand how to identify and approach networking contacts and how
to engage in networking conversations. Networking is an imperative element of conducting business. Professionals
use networks to create new business opportunities, develop new products or clients, measure themselves against
their competition and increase their own industry awareness.
APPENDIX
Recommended Reading
Business Etiquette for Dummies (Sue Fox)
Business Etiquette in Brief: The Competitive Edge for Todays Professional (Ann Marie Sabath)
Dig Your Well Before Youre Thirsty, The Only Networking Book Youll Ever Need (Harvey Mackay)
How to Connect in Business in 90 Seconds or Less (Nicholas Boothman)
How to Win Friends and Influence People (Dale Carnegie)
How to Work a Room (Susan RoAne)
Kiss, Bow or Shake Hands (Terri Morrison and Wayne Conaway)
Make Your Contacts Count, Networking Know How for Cash, Clients, and Career Success (Anne Baber, Lynne
Waymon)
Never Eat Alone: And Other Secrets to Success, One Relationship at a Time (Keith Ferrazzi)
Power Schmoozing: The New Etiquette for Social and Business Success (Terri Mandell)
The It Factor: Be the One People Like, Listen to, and Remember (Mark Wiskup)
The Networking Survival Guide: Get the Success You Want By Tapping Into People You Know (Diane
Darling)
HBR article: How Leaders Create and Use Networks (Jan. 2007)
Various periodicals: Fast Company, Forbes, Consulting Magazine, Staffing Management, Los Angeles
Magazine, New York Times, Ethical Corporation, Jungle, Newsweek, MediaWeek, AdWeek, Nations of the
World, T+D, Media Route, The Chronicle of Higher Education, Television Week, Barrons, San Fernando
Valley Business Journal, Entertainment Weekly, Daily Variety, Orange County Business Journal
Websites and Online Subscriptions
Intercultural Press (www.interculturalpress.com/store/pc/home.asp). They publish a series called INTERACT.
Cybor Link (www.cyborlink.com/besite/china.htm) Basic but useful dos and donts and links to other
country specific information for China and Western Europe
Monster (www.monster.com)
LinkedIn (www.linkedin.com)
Facebook.com (www.facebook.com)
On the Wharton MBA Career Management Website
Capital IQ
Company List in CareerPath
Full-Time and Intern Directory
Global Workplace
Going Global
Peer Network
Chapter 4 | Networking
Sample Questions
Be aware of the level of knowledge expected from you prior to engaging in informational meetings.
Industry Questions
Can you recommend a book to read or other resources to consult that you have found particularly insightful on
the industry?
Based on my research, I understand that the industry has changed a lot in the past X years. What have you seen
from your company?
Who are the most important people in the industry today?
I am searching for a position in XYZ industry, can you recommend some steps to take?
Can you speak to me about how you entered the industry/position?
I read about XYZ event in this industry, how has that affected your business?
Can you talk about the most typical job progression in this industry for an MBA hire?
Does this industry typically offer training to new hires? If so, what does it entail?
Company Questions
I read that your firms goals are X, Y and Z. How do you see the implementation of those goals on a daily
basis?
Given X, what approach does your company take in the marketplace?
What is unique about the way your company operates?
How does the reporting structure work?
What are the accepted channels of communication and how do they work?
How are employees recognized, judged and rewarded?
I read recently that your company did XXXX, what have some of the implications been?
Position Questions
Could you describe a typical workday?
What is the range of your responsibilities?
What parts of your job do you find most difficult?
What jobs did you have that led to this one?
What project(s) are you/your division currently focused on?
What skills are required for your position?
What qualifications do you seek in a new hire?
What personality traits do you consider critical to success in this job?
What does the company consider important for someone to fit into the corporate culture?
How do most people enter this profession?
Can you recommend any courses I should take while at Wharton before proceeding with my job search in this
industry?
Referral Questions
Who else can you recommend that I speak to about my interest in X? (It is a good idea to try to get more than
one contact. Three is usually a good target.)
What else do you think I need to know at this point?
Wharton MBA Career Management would like to thank Deb Rosenbloom of the Hancock Leadership Group for her
contributions within this chapter.
Chapter 4 | Networking
10
CHAPTER 5: RESUMES
What is a Resume?
The Basic Parts of a Resume
The Structure of a Resume
Development of an Effective Resume
Resume Revision Process
Conclusion
Appendix
WHAT IS A RESUME?
A resume (curriculum vitae) is a marketing tool with one primary function to get you the interview. It is a brief,
clear representation of what you have to offer to an employer. The function of the resume is to impress the reader so
that he/she wants to learn more about you. A resume also has a secondary function to serve as a basis for
discussion during the interview. To learn more about interview preparation and interviewing see Chapter 7.
A resume should not serve as your autobiography, nor is it simply a chronological listing of your work experience.
Rather, a resume is a focused and targeted document that highlights your experiences in a strategic and forwardlooking manner. To create a forward-looking document, be prepared to write specifically and with intent about
your past experiences in a way that will grab the attention of your anticipated reader. The specific focus and content
of your resume must strategically market you towards the new role you seek. Vital preparation for resume writing
includes conducting the necessary self-assessment (Chapter 2) and market research (Chapter 3) to identify your
target industry/function/position.
While there are many guidelines for creating an effective resume outside of the Wharton template (which is required
for current students) there are few rules. Resumes are subjective you need to focus on the purpose of the resume
and let that steer the resume format and content.
Your resume is a constant work in progress. Regardless of what stage you are in your career, you should always
have an updated resume.
Chapter 5 | Resumes
hard for a hiring manager to hear you. Let the caller leave a message then find a quiet place with good
cell reception to return the call
Objective/Skill Summary/Summary of Experience Section
Objectives are statements at the beginning of your resume that indicate the kind of position you are seeking.
Effective objectives are short, direct and concise. For example: Senior level position in Brand Management.
Skill summaries, also usually found at the top of the resume under the contact information section, provide a list of
key skills you have to offer an employer. A summary of experience (in paragraph or bullet form) quickly provides
your career to date and usually indicates the number of years in particular fields and areas of focus/expertise.
Although we do not recommend current Wharton students include an objective or skill/experience summary, the use
of these has been debated among career counselors for years. Providing employers with a quick reference of a career
objective or skill set can be an effective way to get employers attention, but that space may be better utilized in
another way.
When to Use an Objective
If you have a very specific employment goal, an objective is a quick and effective way to tell an employer
where your interests lie, particularly if you are a career-changer
Keep in mind that an objective may take you out of the running for other positions. If you are applying for positions
in more than one field and you plan to use an objective, develop more than one resume.
When to Use a Skills Summary or Summary of Experience
Deciding whether or not to include a skills/experience summary is largely a matter of style.
If you have a significant level of experience, it is a helpful way for the hiring manager to quickly understand
your qualifications. This can be particularly useful in contacting executive search firms
If you are changing careers and are afraid that a hiring manager quickly scanning your resume will dismiss you
as unqualified, a skills summary is one way to call attention to your transferable skills
If you decide to include a summary, make sure that it says something of substance about you. It should include
information from your background that is most applicable to the position you seek. Below you will find examples of
effective skills summary sections:
Example 1:
Finance & Strategy Professional
Specialization in financial and risk management with an international emphasis. Direct experience including P&L
responsibility, market strategy, prospective investment evaluation, project management and international business
development. Excellent organization, communication & analytical skills. Wharton MBA, Smith BA.
Example 2:
Senior Marketing Executive experienced with diverse technologies. Innovative strategist with proven ability to
identify, launch and manage products and services in both emerging and established markets. Demonstrated
competence in start-ups and Fortune 500 organizations.
retirement plan administration. Demonstrated ability to grow business, dramatically increase client loyalty, improve
profitability, define effective competitive strategy, and execute change. Additional experience in mergers and
acquisitions in consultative role.
Example 4:
Senior Consultant with over seven years experience in strategic consulting. Strengths include:
Talent for leading and managing diverse cross-functional teams that produce results
Strong interpersonal skills for developing trusting relationships
Ability to determine problem areas quickly and develop effective solutions
Education Section
The placement of your education section within your resume depends on what part of your prior experiences you
would like to highlight most. As a general rule, when you are no longer a student, it is appropriate to first highlight
your work experience and then follow with your education. This is also in keeping with the typical reverse
chronological order of most resumes. For current Wharton MBA students, the education section is required to be at
the top of the resume.
For the most part, the distance rule is a good guideline for how much information you include in the education
section. If you are a current student or a recent graduate, it is appropriate to (and you should) include extracurricular
activities (specifically those that demonstrate leadership or show passion towards a specific industry/function),
academic honors and group memberships in this section. These can act as signals to employers regarding your areas
of interest and your leadership/teamwork skills. The more experience you have, the less likely a hiring manager is to
be interested in what you did or what you were interested in during school; far more time will be spent reviewing the
employment section of your resume. For the experienced job seeker, indicating the institution, degree, area of study
and graduation date will usually suffice. That said, if you had notable academic honors, it is probably worth
including them regardless of the number of years that have passed.
See below for sample bullets that can be included in the education section.
EDUCATION
THE WHARTON SCHOOL, UNIVERSITY OF PENNSYLVANIA
Philadelphia, PA
Master of Business Administration, Major in Marketing
20XX
Directors List, Fall 20XX
Elected VP Strategy, Social Impact Club. Coordinated across clubs/faculty to build Whartons social impact
brand, curriculum, and entity
Member of Consulting and Europa clubs
Awarded Omnicom Communication Fellowship. Serving as teaching assistant for 200X-20XX MBA
communications classes
Received Joseph H. Wharton Fellowship for leadership, professional achievement, and academic excellence
KENYON COLLEGE
Gambier, OH
Bachelor of Arts, Dual Major in History and French Studies
20XX
Magna Cum Laude
Named Presidents Scholar awarded $5,000 exploration grant given to top 3% of incoming freshmen
Tips:
1) If your undergraduate institution grants grade point averages, the general rule of thumb is that GPAs of 3.5
and above should be included. You may also want to include any organizations you belong(ed) to that may
have networking potential
2) If you began your undergraduate academic career at an institution other than the one from which you
graduated, you may create a separate section for that institution or simply mention it under the school from
which you graduated
Chapter 5 | Resumes
3) If you have a graduate degree other than Wharton, it should be included in the educational section in
chronological order, as demonstrated below
EDUCATION
THE WHARTON SCHOOL, UNIVERSITY OF PENNSYLVANIA
MBA Candidate; Major in - - - - -?
Member of Whartons ???? Club,
More details
Philadelphia, PA
200X
UNIVERSITY OF ??
JD? MD? PhD? MA - - - - -; Major in - - - - -?
Active in
More detailsmore detailsmore details.more detailsmore detailsmore
details..
place, place
XXXX
UNIVERSITY OF ??
BA in - - - - -?, Major in - - - - -?
Active in
More detailsmore detailsmore details.more detailsmore detailsmore details..
place, place
XXXX
4) Once you are at the graduate degree level, it is no longer appropriate to include your high school on our
resume. If you attended a high school that you feel has networking power, list it under additional
information
Experience Section
The experience section is the heart of your resume the most important section. Regardless of placement, style or
format, it is the section of the resume where employers will spend the most time. The experience section may
include full-time experience for which you have been paid but also applicable volunteer experience, military
experience and internships.
The more experience you have, the less important it is to cover every period of your life on your resume. Avoid
filling your resume with unimportant information just to account for time. While it is appropriate to list your
employers, titles and dates on your resume in chronological order, it is not always necessary to include
accomplishments for each previous job. See the Development of an Effective Resume section of this Chapter for
guidance on crafting experience bullets and for specific examples of effective bullets.
When determining whether or not to eliminate a specific experience/internship from your resume, think about the
following:
What value does the experience/internship add to my resume?
Is the experience/internship relevant to the work I want to do now?
Does the experience/internship work represent skills that are not already on my resume?
While there is not a specific rule, understanding the company, industry or function you are interested in can help
guide you on what to include (also see the Make an Impact on the Hiring Manager section).
Additional Information Section
Most resumes will include a section which details interests, specialized skills (e.g. language proficiency), volunteer
activities, or other personal information (e.g. awards, professional affiliations or certifications, publications, patents,
work authorization (if relevant), computer skills (only necessary if you are applying for a technically-oriented job),
etc. ).
Chapter 5 | Resumes
As you can see from the above examples, the additional information section can be an effective way to send a
message about you, whether it is commitment to excellence, teamwork, well-roundedness, intellectual curiosity or
sophistication. Many hiring managers appreciate this type of information because it gives them easy small talk
items to help start the conversation. In addition there is a chance that you and the hiring manager share a common
interest or experience, which can help start things off on a comfortable note.
Recognize, however, that a hiring manager could interpret your passion for something in three different ways a) I
dont care b) Thats cool, I like that too! or c) I wonder if this passion is going to distract the candidate from
working hard for me? Think carefully about how you utilize this section, and remember that an Additional
Information section is not obligatory; the space may be more effectively used to further describe your work
experience.
NOTE: In the United States it is not appropriate to include your age, sex, marital status or religion on your resume.
This standard, however, varies greatly from culture to culture. If you are seeking a job outside of the United States, a
vital part of your market research is find out what the custom is for resumes and to make sure that you comply. To
do otherwise will only point out your lack of knowledge about the culture.
Chapter 5 | Resumes
EXPERIENCE
IRRIGATION, INC.,
Santa Monica, CA
2000-2005
International Sales Manager xxxx-xxxx
International Product Manager xxxx-xxxx
Analyzed international markets, set product pricing, and developed yearly sales forecast models. Presented
findings to senior management.
Increased international sales by 29% by designing and implementing new systems and infrastructure to
revitalize flagging international sales and strengthen international distribution network.
Directed six member international sales department generating sales of $8 million.
Created customer partnership programs to reinvigorate customer relationships including over 20 overseas visits
to deepen and personalize relationships.
Led fast track product development project. Efficiency, dedication to aggressive deadlines, and team
commitment resulted in a standard 18 month project being completed in 7 months.
Modeled product line reduction scenarios and implemented optimal solution. Reduced product range by 30%
in six months.
CARPENTER TECHNOLOGY CORPORATION
Santa Monica, CA
Quality Assurance Engineer
1998-2000
Managed nuclear reactor core-channel production projects each valued in excess of $3 million.
Conducted core-channel corrosion testing. Analyzed material corrosion data and gave extensive presentations
and reports to senior management. Analysis used as basis for new product specifications.
Example 2: Functional Approach (not recommended for current Wharton MBA students)
EXPERIENCE
New Product Development
Developed product requirements with clients for a software toolkit that improved design quality by 20%.
Initiated and led software implementation effort.
Identified an innovative database solution to manage design data, presented it to management and deployed it
across three client groups, resulting in 30% increase in efficiency and data reliability.
Project Management and Planning
Analyzed and recommended the outsourcing of $40 million software development to senior management,
resulting in a 20% increase in productivity of design. Coordinated outsourcing with suppliers.
Led five-member cross-functional team in establishing new technique to detect flaws in microprocessors,
resulting in estimated savings of $20 million in avoided product recalls.
Marketing
Developed and delivered presentations to senior management of over 60 companies. Increased consulting
projects by 50% in a six month period.
Bench-marked Intels new processor against competition and recommended product features to designers.
Employment
ABC Consulting Firm, Senior Consultant, San Francisco, CA, xxxx-xxxx
XYZ Computer Corporation, Asst. Product Manager, La Jolla, CA xxxx-xxxx
Chapter 5 | Resumes
EXPERIENCE
ARTHUR ANDERSEN & CO. LLP
Chicago, IL
2000-2005
Consultant, Business Economic and Financial Consulting Division
Valuation/Modeling
Created valuation model to determine fair market value for an insurance companys $3 billion real estate loan
portfolio.
Calculated lost profits litigation damage claim for an appliance company resulting in a $100 million gain.
Financial Analysis
Prepared witness outline and demonstrative exhibits relating to property valuation for a chemical companys
lawsuit with two commercial banks.
Produced an expert report to refute $20 million of $30 million in taxes owed by an international grain company.
Due Diligence
Performed detail testing of an insurance companys valuation process including reviewing standard
assumptions, verifying the integrity of the data, and testing the overall accuracy of third partys valuation model
Conducted accounting fraud investigation of subcontractors computer systems on behalf of concerns by real
estate relocation cooperative.
Length
For current students, resumes should be kept to one page. For alumni, if you have 10 or more years of experience
then two pages is acceptable. If you use two pages, however, be sure to put your name and telephone/email address
in the header of page 2 and put Page 2 of 2 in the footer.
Chapter 5 | Resumes
Tips:
1) If you are having a difficult time identifying your accomplishments, look through the sample action verbs
(See Appendix of this Chapter for sample action verbs). This may help you remember significant actions
you took in the past
2) When thinking about your past experiences, focus on the actions you took, not the positions you held. This
will help you move away from listing a job description and move toward creating accomplishment
statements. Accomplishment statements articulate your unique contribution to your department or
organization rather than the intended contribution of your position
3) Review past performance reviews and speak with former colleagues for ideas on your major
accomplishments and skill set
Accomplishment-focused and results-oriented bullets create a match between your skills and the companys needs,
articulate the impact/contribution you made to former employers and communicate content clearly.
1) Create a match between you and the company industry
Craft your past experience in such a way that it is valuable to the hiring manager. Research and understand the skills
and accomplishments required to be successful in the company, industry and/or function you are targeting (see
Chapter 3 on market research). In many cases, even as a career switcher, you have demonstrated the required skills
for a future position in your current/prior work experience. These skills are called transferrable skills.
Tips:
1) Think about the decisions you made in the past which had a positive impact on the organization. Did any of
those decisions exhibit use of the skills required for the new company, industry or function of interest?
2) Think about problems that you encountered in different jobs and how you solved them. Did the skills you
used to solve the problems exhibit use of the skills required for the company, industry or function of
interest?
When selecting accomplishments to include on your resume, only highlight prior experiences that showcase the
skills that are valued by the new company, industry and/or function you are targeting. Major accomplishments in
your past may be excluded from your resume as a result. Eliminating these accomplishments can be emotionally
difficult, but remember that your resume is not about what is valuable to you (or to your coworkers, friends or
family members), but rather what is valuable to the hiring manager.
2) Write results-oriented bullets
Demonstrating that you made a positive impact on a former employers organization or that your work achieved
positive results is crucial. Resumes that are filled with job descriptions (a listing of what your tasks were in the past)
are not compelling to a hiring manager. Bullets that do not demonstrate results are meaningless because they lack
context. To give your resume meaningful context, you must identify the key actions you took in particular
circumstances that led to unique accomplishments. Communicate the result or impact of your actions. Quantifying
the result(s) of an action you took is one of the best ways to explain your success because it can be easily understood
by a hiring manager.
Creating results-oriented bullets that share specific details is often the most difficult part of the resume writing
process. However, this is what distinguishes average resumes from great resumes and grabs the attention of the
hiring manager.
Tips:
1) When writing/reviewing a bullet, ask yourself, Could somebody else who had the same job/title as I did
write the same bullet? If so your bullet is a job description and you need to re-work it
2) If you are having a difficult time identifying the impact or result of your actions, try to compare yourself to
others. Did you do something better than someone else, or faster than it was done before? Think about the
reason you did the task and how the result was utilized. What was the impact of your work? Saying that
you increased sales, reduced cost or decreased the amount of time a procedure took by 10%, 20%, etc over
a certain period of time immediately makes the result clear to the reader
Chapter 5 | Resumes
3) If something happened several years ago, and you know there was a quantifiable result but you cannot
remember it, describe it in a general way such as, reduced processing time by more than half or try to
reconnect with former colleagues and ask them about the specific end-result of your efforts
4) Using context is a good way to communicate that something you did was significant or to communicate the
relative impact of your actions particularly when the reader might not be familiar with the circumstances.
Saying that you managed the ABC product line, representing $$ of the firms sales makes more of an
impact than saying managed the ABC product line. If you only say that you reduced processing time by
20%, how does the reader know that this is a significant accomplishment unless you provide context that all
other years the processing time was reduced by only 10% percent?
Below are several examples of effective, accomplishment-focused and results-oriented bullets:
Example 1: Quantitative Impact Sample Bullets
Analyzed efficiency of automated phone unit; recommendations were adopted by vendor and reduced dropped
calls by 15%
Structured marketing strategy for credit card offers by analyzing customer data and performing competitive
research. Recommended mail packages and mailing frequency that minimized cost per responder, increasing
marketing efficiency by 25%
Developed valuation model for real-time over limit authorizations, which reduced losses by $21MM annually.
Led five-member cross-functional team to create product and marketing strategy for new customer segment.
Analyzed customer data/market research, built statistical model to forecast profitability. Increased profits by
96%, accounts booked by 167%
Guided multi-regional teams to design and staff new innovation department for $10B global CPG company.
Defined roles and responsibilities, recommended reporting structure, and facilitated buy-in from different
regions. This resulted in one-time 20% cost savings and 5% annual savings from efficiency gains
Achieved 6-month project goal of increasing production from 1.6M units to 2.4M units with existing resources
through operational redesign and method improvement
Represented Harris Group, a sales and marketing services provider, in $75 M sale of three subsidiaries.
Prepared company marketing materials and managed transaction process involving over 120 potential buyers
Earned three promotions in two years by leading six-person staff in growing depth and quality of student
services to match those of university 25 times larger
Presented multiple organizational seminars attended by 40+ executives from major Japanese companies to
improve problem-solving skills and to promote project reengineering effort
Selected by Managing Director to help start equity private placement group after eight months with the firm.
Created groups valuation templates, marketing materials and infrastructure
Identified incremental revenue opportunities for Product A in new and existing markets. Developed and
presented short and long term brand strategies in those markets. Initiated execution of advised strategy
Transformed department into fully digital, information-rich environment by implementing smart card program
and training staff on software. Efficiencies created by system led to decrease in accounting labor hours and
increase in guest revenue
Do not misrepresent your experiences, accomplishments or results. It is dishonest and can damage your reputation as
well as result in the loss of a job. To create a results-oriented resume and compete with others, it can be tempting to
cross the line of accuracy. However, the risks of being caught exaggerating your experiences far outweigh the
benefits of an impressive-sounding bullet, and may negatively impact your chances of being offered a job at
multiple employers (because information regarding candidates lack of honesty is frequently shared across firms).
Your reputation for integrity is something you will need throughout your professional life and is not easily
repairable once damaged. Please also be advised that in the relatively small world of MBA graduates a negative
Chapter 5 | Resumes
reputation can migrate from one firm to another as recruiters, business line professionals, and others (fellow
students, professors, etc.) take on new responsibilities and exert influence in their respective organizations.
Employers often conduct background checks on students they have hired and the company reserves the right to
rescind your job offer due to inaccuracies on your resume.
3) Communicate the content clearly
Write your bullets so that the hiring manager can understand you. Streamline your bullets and make them easy to
read. Think critically about the action verbs you use at the beginning of each bullet. These action verbs should
quickly provide the hiring manager with an understanding of your core skill set.
Tips:
1) Make sure that each bullet actually says what you think it says. Ask someone to read your bullets quickly
and ask them what main skills are communicated in the bullet. If the answer is not what you are looking
for, the bullet might need to be rewritten
2) Avoid words like successfully or very which are ineffective because they are ambiguous. Successful by
whose standards? What does very refer to, or again, by whose standards?
3) Avoid the phrases like responsible for, which do not show the hiring manager what you did, only what
you were obligated to do
4) Avoid repeating the same action verb at the beginning of each bullet. It is understandable that you may
repeat action verbs within your resume. However, you want to present a variety of experiences that relate to
the skills/attributes the hiring manager is seeking. If you must repeat an action verb, try not to use it in
consecutive bullets
5) Avoid excessive or complicated lingo, abbreviations and jargon. Consider replacing a technical or industry
specific term with a laymans term and then placing the technical information in parentheses immediately
following the term. This way the hiring manager can read the technical information but will not be
distracted by it when learning about your skills
6) Place the most relevant part of what you are trying to communicate at the front of the bullet. The first three
or four words of a bullet are critical because that is usually what the hiring manager glances at when he/she
skims through resumes. For example, it may be more powerful to say, Increased revenue 25% by
analyzing pricing and evaluating target customer versus Analyzed pricing and evaluated target customer
which led to a 25% increase in revenue
7) Order your bullets within each section of your resume by what is most relevant to the hiring manager rather
than by what you spent the most time on or what your prior employer found to be the most helpful
8) Limit your bullets to four lines. Four lines should be the maximum, but even that is often too long. A good
rule of thumb is having not more than 1 to 2 skills per bullet and 3 to 4 lines per bullet. You need to
effectively communicate the key information you want the reader to grasp and you can fill in the details
during the interview
9) Use sentence fragments, not complete sentences. This is a marketing document designed to deliver key
information to the reader in a very short amount of time in order to get that reader to ask you to interview.
Sentence fragments in a resume do not need the extraneous/filler words (e.g. a, the) found in complete
sentences. Fragments are intended to deliver key information much quicker and more effectively
10) Avoid the use of I (and other personal pronouns) in your resume. I is a superfluous word that can takes
up space on a resume and distracts the reader from the important information. It is standard practice with
resumes to avoid use of pronouns as the resume, by definition, is about you. Consequently, it is clear you
are the one who has done all of the things you describe
Make your Resume Visually Appealing
It has been well documented that most hiring managers spend less than 20 seconds reviewing a resume.
Additionally, 60% of employers form an opinion on resume appearance alone. To attract (and retain) the attention of
hiring managers, make your document visually appealing.
Tips:
1) Strategically allow ample white space. White space is critical to a professional resume. It lets the reader
breathe while looking at your bullets, makes the entire resume easier to read and guides the readers eye
Chapter 5 | Resumes
10
2)
3)
4)
5)
to the important content on your resume. It is often difficult to notice the important things in an
overcrowded resume
Focus on proper alignment by ensuring all of your bullets and headings are aligned correctly. While this
may seem obvious, many people fail to complete this step. Misaligned bullets speak poorly of your
attention to detail
Maintain consistent format and style throughout your resume (including your headings, bullet formats and
section titles, font choice, font sizing, etc). Do not indent key aspects of one section and not indent the next.
If you use semicolons at the end of your bullets then use semicolons in every location do not use periods
in some places and semicolons in others. If you use bold headings, bold them the same way in every
section. Be careful with capitalizing or bolding words within bullets
Limit font style to one font, and be judicious about font sizes. It is a good idea to use formatting to direct
the readers eyes to the relevant content. However, use formatting cautiously and make sure it creates a
resume that is easier to read versus a resume that is difficult to read. Limit (or eliminate) the use of italics
unless grammatically required
Check and re-check your resume for typos and grammatical mistakes
CONCLUSION
After reading this chapter (as well as Chapter 2 on self-assessment and Chapter 3 on market research) you should be
ready to start drafting your resume. Once you have created your resume, you are ready to leverage the information
you gathered (the needs of your target employers and your skills and accomplishments) to start writing cover letters
(see Chapter 6) and preparing for interviews (see Chapter 7).
Chapter 5 | Resumes
11
Remember your resume is never complete it is an evolving marketing document that changes as you develop
new skills, accomplish new things and refine your areas of interest/passion. Keep it up-to-date you never know
when you will want/need to share it someone.
APPENDIX
Recommended Reading
Asher's Bible of Executive Resumes and How to Write Them (Donald Asher)
Effective Resume Writing: A Guide to Successful Employment (James E. Neal)
Encyclopedia of Job-winning Resumes (Myra Fournier and Jeffrey Spin)
Resumes That Get Jobs (Jean Reed and Ray Potter)
The Ultimate CV: Win Senior Managerial Positions With an Outstanding Resume (Rachel Bishop-Firth)
Write a Great CV (Paul McGee)
Websites and Online Subscriptions
Career Resumes (www.career-resumes.com)
Quint Careers (www.quintcareers.com)
Resume Edge (www.resumeedge.com)
On the Wharton MBA Career Management Website
Vault Career Library
Wet Feet Insider Resources
Wharton Resume Books (Resume Book Archive) search fellow student resumes by keyword and other criteria
Wharton Resume Guidelines
Wharton Resume Template(s) quick start for developing your resume
Sample Action Verbs
Clerical or Detail Work:
Approved
Arranged
Catalogued
Classified
Collected
Compiled
Dispatched
Executed
Generated
Implemented
Inspected
Monitored
Operated
Organized
Prepared
Processed
Purchased
Recorded
Retrieved
Screened
Specified
Systematized
Tabulated
Validated
Communication Skills:
Addressed
Arbitrated
Arranged
Authored
Corresponded
Directed
Drafted
Edited
Enlisted
Formulated
Influenced
Interpreted
Lectured
Moderated
Motivated
Negotiated
Persuaded
Presented
Promoted
Publicized
Recruited
Translated
Wrote
Creative Skills:
Acted
Concentrated
Created
Designed
Developed
Fashioned
Founded
Illustrated
Instituted
Integrated
Originated
Performed
Planned
Revitalized
Shaped
Chapter 5 | Resumes
12
Directed
Established
Introduced
Invented
Financial Skills:
Administered
Allocated
Analyzed
Appraised
Audited
Balanced
Calculated
Computed
Developed
Forecast
Managed
Marketed
Planned
Projected
Researched
Helping Skills:
Assessed
Assisted
Clarified
Coached
Counseled
Demonstrated
Diagnosed
Educated
Expedited
Facilitated
Familiarized
Guided
Referred
Rehabilitated
Represented
Management Skills:
Administered
Analyzed
Assigned
Attained
Chaired
Contracted
Consolidated
Coordinated
Delegated
Developed
Directed
Enhanced
Evaluated
Executed
Improved
Increased
Organized
Oversaw
Planned
Prioritized
Produced
Recommended
Reviewed
Scheduled
Strengthened
Supervised
Research Skills:
Clarified
Collected
Critiqued
Determined
Diagnosed
Evaluated
Examined
Extracted
Inspected
Interpreted
Interviewed
Investigated
Organized
Reviewed
Summarized
Surveyed
Systematized
Teaching Skills:
Adapted
Advised
Clarified
Coached
Communicated
Coordinated
Developed
Enabled
Encouraged
Evaluated
Explained
Facilitated
Guided
Informed
Initiated
Instructed
Persuaded
Stimulated
Technical Skills:
Assembled
Built
Calculated
Computed
Designed
Devised
Engineered
Fabricated
Maintained
Operated
Overhauled
Programmed
Remodeled
Repaired
Solved
Trained
Upgraded
Chapter 5 | Resumes
13
that you have this skill in written communication, they will likely conclude that you are able to make clear
points in verbal communication.
Eliminate errors. Avoid grammatical, spelling and formatting mistakes. Your written communications represent
your professionalism. If your document contains errors, employers are justified in thinking, If you didnt take
time to even proofread and correct your cover letter before sending it, how will you be able to produce flawless
work for me?
Over the years, employers have shared the following reasons with MBA Career Management as to why they read
cover letters:
First, I like to see if the person can write. I also take note of any misspellings, grammatical errors, etc. I think it
is horrible if the person has not paid attention to detail and has referred to the wrong industry or a different
company in the letter
We read every cover letter and can tell instantly if the applicant has cut and pasted
It is the only way we get the chance to get to know the candidates aside from seeing specific work experiences
they can tell us their story
I read every cover letter to help me find those few candidates who articulate why they want THIS job. Very
few candidates do this well so it helps me get the pile of applications down to a manageable size
Ultimately, like most aspects of the job search process, you can anticipate what the hiring manager will do but you
cannot predict it. To that end, while a well written cover letter cannot guarantee an interview, it can bring you one
step closer. A poorly written cover letter, however, can end your candidacy.
Cover Letter Writing Preparation
Here is a step-by-step process for preparing to write cover letters. This process should make your writing effective
and efficient.
STEP 1: Read the job description carefully and take notes on the items you want to reference in the cover letter.
Knowing about the nature of the job is critical to linking you and your past experiences to it
STEP 2: Research the company (and position if defined) to determine their needs and how your skills and
background match up (see Chapter 3). Knowing the industry and company well is key to writing effective job search
letters
STEP 3: Leverage your self-assessment efforts. Determining which details about yourself (e.g. salient skills, strong
interests) to include in your cover letter can help explain why you are a great fit for the position and distinguish you
from other applicants. In addition, employers value people who are self-aware because they know what they want
STEP 4: Make an outline of the specific points you want to cover in the letter. (This will also serve as great
preparation during the interview)
In order to clearly communicate the message you want to send to the hiring manager, plan to write several drafts of
your cover letter.
The Structure of the Cover Letter
Cover letters should follow a simple structure which includes three paragraphs (although four paragraphs are
acceptable). Each paragraph has a specific purpose (discussed in detail on the following page). It is wise to keep
your cover letter to one page. Use caution if you exceed one page, and make sure that you have enough substantial
content to warrant it.
A cover letter is addressed to a specific person. Typically this persons contact information is included in the job
description. If there is no specific contact listed on the job description, contact the company to identify an
appropriate person to whom to address your letter. Using the greeting Dear Sir or Dear Madam or Dear
Company Representative will increase the chance that the cover letter will not be read.
The First Paragraph Introduction/Summary
The first paragraph serves as a short introduction about you identify who you are and why you are writing. Be sure
to share all critical details of your application in this paragraph. If the hiring manager only reads one paragraph, it
will be the first one.
When writing this paragraph, be specific and include the following information:
Chapter 6 | Job Search Letters
Tips:
1) Do not tell the reader what he or she already knows
For example, instead of saying, The consulting industry is one of the fastest growing service
industries in the country and good consultants require strong analytical and problem solving skills. I
have demonstrated these skills through , use your knowledge to convince the hiring manager of
your fit with the firm: I have been successful in high growth and fast-paced environments. This is one
of the reasons that I am interested in your firm. During the take-over of my most recent employer, I
was selected to solve several strategic problems involving
2) Be aware of your tone. An attempt to demonstrate knowledge about a specific area can sound preachy.
Focus on what you know about the company in relation to how you fit
Below are a few examples of compelling introductory paragraphs:
Example 1:
I am a first-year MBA student at the Wharton School with a concentration in Marketing. I am writing to request an
interview for the Brand Management Summer Intern position at XXX. After attending your on-campus information
session and reception and speaking with several team members, including Lauren Doe, Emily Jones and Clark
Smith, I am very excited about the opportunity at XXX. I was especially impressed by XXXs focus on innovation
and global reach, as well as the enthusiasm of the team. Speaking with several team members at the Wharton
Marketing Conference and the Day on the Job I was excited to learn about the new product launch process and
finding new ways to reach consumers via integrated marketing campaigns. I am impressed by XXXs detailed
knowledge of the consumer and general management focus.
Example 2:
After speaking with John Smith and the rest of the XXX team during your campus information session and at the
Wharton Marketing Conference breakfast chats, I was excited to learn that we share a life-long passion for
cosmetics. Communicating that passion to the consumer has been at the heart of my entire career. As a second year
MBA student at Wharton, I would be grateful for the opportunity to apply my previous sales and marketing
experience to XXXs MBA Associate program. I believe I have a great deal to offer you.
Example 3:
I am writing to be considered for your X position. Through discussions with current employees, including Victor
Jones from your XYZ group, I believe that I have the XYZ skills that your group at XXX is seeking. I have long
been interested in the various financial innovations employing fixed income securities because XXXX. This passion,
combined with my banking experience and my strong analytical and quantitative abilities, makes me a strong fit for
your fixed income group.
The Middle Paragraphs The Evidence
The middle section offers evidence of what you can bring to the company. Composed of one or two paragraphs, this
is the section where you sell yourself and link your past with your potential future at the company. The content of
this paragraph should:
Focus on what you can you offer and contribute to the company. Avoid too much discussion about why the
company is good for you and instead focus on why you would be good for the company
Be specific and result-oriented
Emphasize your strengths. Do not discuss your weaknesses, or qualifications mentioned in the job description
that you do not possess. Job descriptions are written for ideal candidates who rarely exist
Avoid focusing on the negative. Do not say, Although I do not have any consumer product marketing
experience, I have many of the other qualifications you seek. Through completion of a two year field sales
training program I gained firsthand knowledge of Instead say, Through completion of a two year
field sales training program I gained first-hand knowledge of the intricate links between sales functions and
brand management. This experience
Expand upon experience in your resume which can clearly demonstrate why you are qualified for this
particular job
Address important questions that your resume cannot answer. Anticipate questions that the hiring manager
might have after reviewing your resume (e.g. Why did you have an extended period of time during which you
did not work? or Why do you want to work in an industry in which you have no or very little experience?)
Tips:
1) Avoid repeating exactly what is on your resume (this is not a walk through of your resume) as this does not
help the hiring manager understand the link between your skill set and the companys needs. Avoid using
the As you can see from my resume approach as it is an overused and unnecessary phrase
Bad Example: As you can see from the enclosed resume, I worked at XYZ bank for three years and I
am currently a Consulting Manager at Little Rock Consulting Firm. Both of these experiences
Good Example: While at XYZ bank, I was chosen to participate in a committee charged with
reengineering our 75 member department. This was an invaluable experience that involved
2) Avoid the overuse of personal pronouns (I, my) in the beginning of sentences. Limit the use of I by
restructuring the sentences
Bad Example: I have eight years in business development in which I increased my companys client
base by 50%. I have led multiple projects for which I had P & L responsibility and managed up to
twenty people. I also have expertise in accounting systems which I believe will be useful to your
department as you undergo the change in systems that Ms. Manager and I discussed over the phone
Good Example: While at ABC Corp., I have increased the companys client base by 50% as Manager
of Business Development. The multiple projects that I have led included P&L responsibility as well as
managing up to twenty people. Additionally, several of the projects I worked on at my previous
employer involved implementing accounting systems, which I understand from John Smith, your
department is about to implement as well.
Below are a few examples of compelling middle paragraphs:
Example 1:
My passion for consumer products drove me to attend Wharton and transition to a career in Brand Management. I
am excited to pursue a career where I can utilize my strong analytical and interpersonal skills in combination with
my creativity. I am building my marketing knowledge both in and outside of the classroom via active involvement in
the Marketing Club and leadership roles as Logistics Director of the Marketing Conference and Marketing Director
for the Wharton Follies.
I will make a significant contribution to XXXX because of the teamwork, creativity and analytical skills I developed
while working in Financial Services prior to attending Wharton. At the XXXX Private Bank, I analyzed the
investment needs of ultra-high net worth clients and developed innovative models to meet these needs. I can directly
apply this consumer focus to a more diverse array of products. I presented recommendations to clients and worked
with at-risk clients, persuading several to continue their relationships with XXXX. I also trained internal client
teams on analytical models; my efforts resulted in 100% usage of my teams models within the Private Bank. In
these situations, I combined my analytical and interpersonal skills to win the support of both internal and external
clients. In addition to my above role, I directed a cross-functional model integration team during the Private Banks
merger with XXXX. By selecting appropriate models, I ensured that the client teams received the necessary
analytical support to drive the business. My teammates included junior and senior colleagues from model-building,
Chapter 6 | Job Search Letters
client-facing and technology divisions of both XXXX and XXXX. This project required a comprehensive strategic
vision, keen attention to detail, strong communication skills and the ability to engage and excite teams with
competing goals and objectives.
Example 2:
Spending the summer rotating through the trading floor at ABC Investment Bank allowed me to realize that being in
a trading environment with excitement, challenges and learning opportunities is my passion. While an analyst for
Electronic Data Systems, I worked with Credit Suisse First Boston and Deutsche Bank traders and their systems.
Prior to that, at Main Street Bank I worked for the debt-trading desk, capital markets group and investment banking
group. Through these positions I gained substantial knowledge of the securities industry and experience in project
management and business development. The demanding time constraints taught me to work well within a team.
In addition, prior to starting at Wharton, I spent four months trading fulltime for my personal account. With these
experiences, I feel that I have substantial exposure to the markets and their trends and will continue to learn how to
use them to my advantage.
Example 3:
Prior to Wharton, I honed my team leadership, strategy development, and analysis skills while working at XXX
Bank. I managed a project to boost net profits by $70 million per year by identifying dissatisfied customers and
designing solutions to address their concerns. To succeed my team conducted focus groups to understand the reasons
for card member complaints, brainstormed on programs to address these issues, created detailed cost-benefit
analyses of proposed solutions, and ultimately coordinated the various groups necessary to implement our
recommendations. The project required a comprehensive strategic vision, tremendous attention to detail, strong
analytical skills, the ability to clearly communicate ideas, and the ability to mobilize groups with different agendas
towards a common objective. I believe these skills would allow me to contribute to Company ABC by developing,
analyzing, and implementing the next generation of business strategies.
Example 4:
I believe I have a great deal to offer you.
Strategic Thinking. At XXX Company, I initiated a repositioning strategy for the brand with the intent to
expand distribution of the primarily private-label dress line to higher-margin department and specialty stores.
Through self-directed business-to-business marketing initiatives, including catalogue development, direct mail
and email campaigns, trade shows, and product placement, I increased sales 47% in one year, and was promoted
from an Account Executive to Sales & Marketing Manager.
Understanding the Consumer. Addressing customer desires through product development has been crucial to
my success as a marketer. Collaborating closely with the design and production departments at XXXX, I
ensured the creation of a cohesive brand image that served the needs of our target customer. My psychology
background was helpful in analyzing buyers needs and translating customer responses into merchandise plans
for future seasons.
Creativity. Experiencing the exhilaration of creativity and innovation is a constant part of my life, whether
designing jewelry or catalogues, learning new dance forms, or painting. At XXXX, I faced the daunting task of
revitalizing the corporation after the events of September 11th sent sales plummeting. Evaluating the situation
and thinking outside the box, I overhauled the companys payment structure, placed all employees on straight
commission, and invested two weeks in extensive sales training. Within six months, sales figures exceeded
those of the entire previous year.
Entrepreneurial Mindset. As a freshman in college, I launched my own company, the XXXX, by transforming a
neighborhood pool concession stand area into a caf hot-spot. Innovative menu items and dcor made this
ordinary venture extraordinary. An entrepreneurial approach continued to fuel my career, as I purposely sought
opportunities which enabled me to occupy multi-functional and cross-departmental roles. Working in an
industry marked by fluid consumer tastes strengthened my ability to manage uncertainty.
Example 5:
The pharmaceutical sales and marketing strategy insights I gained from health care consulting will enable me to
make immediate and lasting contributions to ABC Divisions brand management teams. During my tenure at
Consulting Firm Y, I assisted executives at Fortune 500 pharmaceutical companies in devising innovative, multichannel sales and marketing strategies. By leveraging my creativity and analytical skills, I enabled my clients to
differentiate themselves from their competition and enhance physician penetration and reach. My strong
communication skills will also be valuable in crafting physician messaging and internally sharing information with
my Company X teammates. This skill was recognized by upper management at Consulting Firm Y, as I was selected
to lead firm-wide training on presentation crafting and storyboarding. Lastly, my initiative in developing a corporate
knowledge sharing system at Consulting Firm Y reshaping ABC Pharmaceuticals training and vendor qualification
system, and serving on the Wharton MBA Curriculum Advisory Board demonstrate my leadership and involvement
in continued enhancement of the environments where I have worked and studied.
As illustrated above, this middle section of the cover letter can be in paragraph form or in the form of carefully
constructed bullets.
The Last Paragraph The Conclusion / Next Steps
The last paragraph of the cover letter reiterates your interest in the firm/position and discusses next steps. Let the
hiring manager know what action you are expecting and what action the hiring manager should expect from you. If
you are seeking employment in a city where you do not live and you are planning a trip there, this is the place to
mention those details. Finally, make sure to thank the hiring manager for considering you and let him/her know you
look forward to future communication.
Tip:
1) Be sure to always include your name, telephone and email address on your cover letter (either in this last
paragraph or as a header to your letter) so that if your resume gets separated from your cover letter, the
hiring manager will still be able to contact you
Below are a few examples of compelling last paragraphs:
Example 1:
I have the educational background, academic achievement, practical experience, and passion to be an outstanding
member of your team. I hope that you will find me well qualified for this position and I would like to reiterate my
strong interest to discuss this opportunity and my qualifications with you further. I look forward to meeting you
soon.
Thank you for your time and consideration.
Example 2:
I am already a life-long XXXX consumer, but wish to become a long-term member of the XXXX team. I look
forward to the opportunity to discuss my interest in greater detail. I can be reached at 215-XXX-XXXX or
xxxxx@wharton.upenn.edu.
Example 3:
With my penchant for producing tangible results and my enthusiasm for tackling tough issues, I am confident that I
can make significant contributions to Company ABC. I hope that you find my background and experience a good fit
for your company, and I ask that you include me in your upcoming full-time interview schedule.
I look forward to hearing from you. Thank you for your time and consideration.
So what? Everything you write in a cover letter should have a purpose. Re-read each sentence. If there is no
significance to what you have written, consider rewriting or omitting it
Is the letter easy to read? Is the critical information included in the first paragraph?
Does the letter tell my whole life story? Is there too much personal information included?
Does the letter simply repeat my resume?
Have I eliminated all vague or unnecessary words/information?
Have I chosen the best words to represent my thoughts? Is the language full of clichs? Make sure the language
is on point, crisp and professional
Are there any spelling, grammatical and formatting errors?
After you make revisions, utilize colleagues and friends to help you review/edit your cover letter. Seek feedback
from people who know very little about your background (and ideally have experience in the industry/function you
plan to go into), and ask them to read and provide feedback on your cover letter.
If you are not a native English speaker and are applying for a position in the United States, it is critical to have a
native English speaker read and proofread your cover letter for any errors large or small.
CONCLUSION
After reading this chapter (as well as Chapter 2 on self-assessment, Chapter 3 on market research and Chapter 5 on
resume development) you should feel confident in your ability to write effective job search letters. The time
commitment required to write effective communications with an employer is worthwhile. It is now time for you to
start applying for specific job opportunities. While you are waiting to hear back from applications you submitted,
start preparing for the interviews (see Chapter 7).
APPENDIX
Recommended Reading
175 High-Impact Cover Letters (Richard H. Beatty)
200 Letters for Job Hunters (William S. Frank)
Cover Letters That Knock 'em Dead (Martin Yate)
Websites and Online Subscriptions
About sample cover letters (www.about.com)
Career Resumes (www.career-resumes.com)
CareerBuilder cover letter advice (www.careerbuilder.com)
Quint Careers (www.quintcareers.com)
Wall Street Journal thank you letters and emailed cover letters (www.wsj.com)
10
CHAPTER 7: INTERVIEWS
What is an Interview?
Interview Preparation
Types & Format
Execution of a Great Interview
Difficult Interview Questions
Follow-up & Subsequent Interviews
Conclusion
Appendix
WHAT IS AN INTERVIEW?
Ideally, an interview is a discussion between a job candidate and a prospective employer. It is a two-way street
where each participant has the opportunity to assess, through a variety of questions, the match between the candidate
and the position. At the end of the interview, there is the potential for an offer of employment.
Many argue that the interview is the most important part of the job search process. The interview can be a product of
self-assessment (see Chapter 2) and market research, (see Chapter 3). Your success during the interview will depend
on your level of preparation, execution, and follow-up.
INTERVIEW PREPARATION
Interviewing is a learned skill and success is dependent upon many factors:
Know the interviewers goals
Understand your goals
Know the company and industry
Anticipate potential interview questions
Practice
Understand interview logistics
Your preparation allows you to have greater control in the interview. Taking the time to effectively prepare is
critical; during an interview you have only a limited amount of time to make a good impression.
Know the Interviewers Goals
Most interviewers have two goals for the interview first, to learn about your skill set/experiences and assess your
fit for the company/position; second, to sell the company/position to you.
The interviewer needs to determine if you are able to fulfill (and excel at) the job requirements. In addition, your
interest in the company and your fit with the companys culture are being evaluated. Understanding your interest can
help the interviewer determine if you would accept an offer (many firms are concerned with yield management and
do not want to make offers that will not be accepted). If the interviewer is confident in your skill set and your fit
with the company, he/she will also use the opportunity to sell the position to you.
Chapter 7 | Interviews
Plan for the unexpected! Many components to the interview process are not within your control, but do your
best to execute effectively on the things you can control. This will help you stay calm and better handle the
things you cannot control
Chapter 7 | Interviews
connect with people. In my last job, I created significant customer relationships resulting in a 30% increase in sales
in a matter of months. My attention to detail has served me very well in getting such high customer satisfaction
ratings. I pride myself on my reputation for following through and meeting deadlines. What I am looking for now is
a company that values customer relations, where I can join a strong team and have a positive impact on customer
retention and sales.
Example 3:
My background to date has been centered on preparing myself to become the best XXXX that I can become. Let me
tell you specifically how I've prepared myself...
Tell me about a time when
With this type of question, the interviewer is trying to assess your skill set and competencies. When answering this
type of question, remember that the best predictor of future success is past success.
The best way to answer the Tell me about a time when question is to tell a brief story or share a specific
example that has a beginning, middle and end. Stories are effective because they engage your listener, they are
easily understood and people can relate to them. They allow you to talk about yourself and be authentic while
highlighting the critical details of your accomplishments. Stories are better than general and hypothetical discussions
because they are specific and more memorable. Stories should be relevant and concise.
Structure your answer using the PAR framework (P = Problem/Situation/Obstacles; A = Action; R = Result) (see
Chapter 5). Identify the required competencies for the position (look at the job description and/or network with
people currently in the position) and prepare at least 2-3 stories/examples for each of competency. Focus your
attention on what you accomplished/your contributions (not what other people did).
Typical competencies include:
Leadership
Strategic Thinking
Analytical Skills
Initiative/Creativity
Communication/Persuasiveness
Teamwork/Interpersonal
After sharing your 1-3 minute story/example which highlights the specific competency you were asked about, it is
common for the interviewer to probe further and ask follow up questions such as:
What steps did you take? What action did you take?
What happened after that?
How did you prepare for that?
Why did you decide to do that?
How did you resolve that?
How did he/she react?
How did you handle that?
How did you feel about that?
What was the outcome/result? Were you happy with that outcome/result?
What do you wish you had done differently?
What did you learn from that?
Industry Expertise & Technical Skills
Interviewers will be assessing your understanding of the industry as well as your technical ability to perform the
responsibilities of the role. Your industry research and networking (Chapters 3 & 4) will be essential for preparing to
answer these types of questions. See Appendix of this Chapter for sample industry-specific questions. Current
Wharton MBA students should also connect with the relevant professional clubs for resources on industry-specific
questions.
Chapter 7 | Interviews
Closing
Use the end of the interview to differentiate yourself and ask questions. Questions convey interest, enthusiasm and
an eagerness to learn. Be prepared with a set of questions and select the most relevant and appropriate ones based on
your conversation. Even though you are asking the questions, the interviewer is evaluating your intellect and
interest. Your questions can also demonstrate the level of company/industry research you conducted.
Thank the interviewer for his/her time, express your interest in the position and ask for a business card. If the
interviewer does not tell you the next step, it is appropriate to ask. A good way to phrase the question is, It was a
pleasure meeting you today and learning about the position. Can you tell me the next step in the process? Knowing
the recruiting timeline gives you more control over the process, allows you to follow up appropriately and enables
you to manage other interviews with other companies.
Tips:
1) Demonstrate a passion for the job. Ask detailed questions about the position and potential roles such as,
What is your specific role and/or specific experience at Company X?
2) Weave into your questions that you had conversations with other employees from the firm (e.g. After our
conversation and talking with John Doe, I was curious about XXXX). This not only is a good way to ask
questions but also demonstrates that you have networked
3) Be careful not to ask questions which can be answered by viewing the company website (e.g. size of firm,
mission of firm, etc). This shows that you did not take the time to go to the website and learn about the
company. Formulate questions that go beyond the basics about the company and involve details that
interest you. Focus on asking questions about the interviewers background, career, perspective, etc
In this role, what does success look like?
What types of people are successful at your firm?
What are the three most important things that the person you hire for this role needs to do well?
If hired, what do you think would be my biggest challenge?
Why did you join this company?
What is your background?
What do you like best about the people you work with?
How would you describe the culture and can you give me an example of the culture at work?
What is the typical career path within the company for someone starting in this type of position?
4) Be aware of the type of questions you ask and how you phrase the questions. Certain questions are not
appropriate for certain people (e.g. avoid asking a very senior person about the day-to-day responsibilities
of an associate position; instead ask questions such as What decisions in your career do you think have
most positively impacted you? or Looking at the senior leadership of the firm, what qualities do you feel
are most essential for success?)
5) Do not ask for feedback on your candidacy during the interview
6) Do not ask about salary during the interview. Starting salary conversations too early in the process is not
wise because it communicates that you are focused on the money rather than on the position (See the
Difficult Interview Questions section of this Chapter as well as the offer management information in
Chapter 8)
7) Communicate any key message(s) you did not get to share during the interview. Judge the situation and the
conversation and determine if you think the interviewer would value the additional information
Chapter 7 | Interviews
Tips:
1) Practice out loud your response to potential difficult questions. Simulate the interview environment and
experience as much as possible
2) Breathe from your stomach muscles and not your chest slowly inhale for 5 seconds and then exhale for 5
seconds. Done correctly this has a calming effect and is not visible to the interviewer
Handling Inappropriate/Illegal Questions
It is possible that you will be asked questions you deem inappropriate (and/or illegal) during the interview. This may
occur because the interviewer:
May not know that the question is inappropriate and/or illegal. There are many federal, state, and even local
laws governing job interviews. That said, United States employment laws make it unlawful to discriminate
based on race, color, religion, sex, national origin, as well as age, sexual preference, health status or disability.
Interview questions that do not focus on essential job qualifications are probably illegal
May be intentionally asking the question because he/she wants to know the answer despite knowing the topic
is inappropriate and/or illegal
Believes the information may actually be relevant to the job
Regardless of why an interviewer may ask an inappropriate/illegal question, be prepared to handle it. Responding
professionally and remaining calm is most effective. There are several approaches you can use:
If you assessed that the interviewer is not malicious and are comfortable responding, you may choose to go
ahead and answer the question.
If you think you know what the interviewer is trying to assess, you can redirect the question by answering
the underlying question. For example if the interviewer asks How does your family feel about the
demands of this job and your career? You could respond, I'm fully committed to performing my job at
the highest level and delivering the results required. My career is very important to me and I have a strong
support system. Did that address your concern? If not, could you rephrase or elaborate? I want to make sure
I answer your question."
If you are unsure of what the interviewer is trying to assess, ask the interviewer for clarification on the
question.
Handling Issues with Your Candidacy
Gap in Work Experience
If you have an obvious gap of time in your resume, it is likely that you will be asked to explain it. Your strategy for
addressing the gap will be different based on the reason. Regardless, directly address the question asked then deflect
attention away from the gap and focus your interviewer on your candidacy. You also want to end your answer on a
positive note perhaps reassuring the interviewer of your commitment to the industry/company/position.
Example 1: Extended Job Search
I spent that time looking for the right next opportunity. I was very specific in my search. I wanted an organization,
similar to yours, where I could leverage the XXXX and XXXX skills I had developed at Firm XYZ and could
develop new XXXX skills. During my job search, I spent time with XXXX Volunteer Organization helping with
their new growth projects. In these activities I was able to utilize my XXXX and XXXX skills. I was pleased that
after X months I accepted a XXXX position with Firm ABC. In this position I accomplished XXXX and XXXX.
Example 2: Child Rearing
I was fortunate enough to be at a level in my career where I had the luxury to stay home and raise my children for a
few years. Throughout that period, I was always committed to returning to the workforce, which is why I was
excited about Wharton and having the chance to progress in my career after earning my MBA. I am specifically
interested in a position with your firm because XXXX.
Chapter 7 | Interviews
If you remained active in any professional organizations or sat on committees, mention that. If the interviewer
continues along the line of questioning about the family or kids, you could respond as you would for an
inappropriate/illegal question (see above) by saying I am not sure that that is relevant to my qualifications for this
job. My track record and experience speak for themselves or It sounds like you might be concerned about my
commitment to this position. I want to reassure you that I am 100 percent committed to being in the workforce and
reaffirm my interest in the position. In fact, that is why I. and then begin to redirect the topic towards your
achievements.
Lack of Specific Qualification
If there is a job requirement (e.g. a specific skill set or experience) that you do not possess but you were selected to
interview, the interviewer may question your qualifications. Do not lie and indicate that you have experience/skills
that you do not actually possess. Approach the question by articulating the steps you are taking to gain the necessary
skill set/experience and your ability to learn new skills quickly. Close your answer by creating a direct link between
your abilities and the needs of the position/company.
Example 1:
You are correct I do not have a prior quantitative background but I have been working diligently to develop my
quantitative skill set. First I came to Wharton known as a strong quantitative school and am majoring in Finance
to gain exposure to financial concepts and financial analysis. Second, I participated in the Train the Street workshop
delivered by XXXX and learned XXXX. Third, I joined the finance club and participated in XXXX. I am confident
these efforts combined with my strong XXXX and my ability to quickly learn new skills will enable me to be a
strong asset to your department.
Did Not Receive an Offer from a Summer Internship
Address the question by focusing on what you enjoyed about your summer experience that is relevant to the future
employer and how you were successful. Be upfront about why there was not a fit and why you are interested in the
particular firm with which you are now interviewing. Be confident and succinct. Avoid speaking negatively about
your summer employer. Instead, focus on why this firm is a better match. Lastly, be truthful firms can and do
follow-up.
Example 1:
At the end of the summer, I think there was a mutual belief that there was not a good fit/match. I had a great
experience at Firm ABC where I had the opportunity to do XXXX and XXXX. My classmate John spent the
summer with your firm and encouraged me to speak with you as I am looking for an opportunity where I can use my
strategic analysis skills to identify solutions and XXXX. John and I have worked on many team projects together,
and he thought I would be an excellent fit at your firm given my XXXX and XXXX skills/experiences. If
applicable, it may be helpful to build your case by presenting the percentage of people who did not receive offers.
Greatest Weakness
During most interviews, employers look to better understand candidates strengths and weaknesses. Most candidates
spend time thinking about how their strengths will benefit the employer and how to articulate their strengths during
an interview. However, some candidates have trouble identifying and articulating weaknesses. When addressing this
question it is important avoid presenting a weakness that is too severe and gives the employer concerns about your
skill set, work ethic and ability to work well with others. On the other hand, it is equally as important to present a
realistic and tangible weakness (e.g. saying, I work too hard is a very clich/overused answer that does not
impress hiring managers. Similarly, we recommend you do not say that you have no weaknesses). Be direct and
concise about explaining your chosen weakness. Finally, end your answer with some positive steps you are taking to
address this issue.
One way to approach this question is to focus on a weakness that is not related directly to your work. For example,
you might say something about getting annoyed when things are proceeding inefficiently, as when you are stuck in
very congested traffic for some time. You can also mention what you do to offset that frustration (e.g. I listen to
classical music or use the time to practice for upcoming presentations while I am in the privacy of my car.)
Chapter 7 | Interviews
Salary Questions
Until an offer of employment is given, try to postpone the salary discussion (unless you are working with an
executive search firm see Chapter 1). Sample texts for addressing salary-related questions are listed below.
How much did you make in your previous job?
I understand compensation is an important issue but I am confident we will be able to reach an agreement
when we are at the offer stage.
I am coming from an industry with a different pay scale, so any comparison would not be meaningful.
What compensation are you expecting?
At this point I dont know enough about the position to assess the dollar value and total compensation package
that would be appropriate.
I would prefer to discuss the position more fully before discussing salary.
Id like to revisit a salary conversation after Ive provided a better sense of my skills.
I assume your compensation is in line with the market, do you have a range for this role?
It is important to remain calm and natural when responding to salary questions. If you are unable to avoid answering
the salary question, you need to be ready with a salary figure or range that you have assessed to be appropriate for
the industry, the position, your qualifications, geographic location and personal needs. By conducting market
research and networking (see Chapters 3 & 4), you will know your value in the industry and be able to present a
realistic desired salary. For details on evaluation and negotiation of offers, see Chapter 8.
Chapter 7 | Interviews
10
CONCLUSION
After reading this chapter you should understand the philosophy of interviewing and how to be successful in this
step of the job search process. Use this chapter and the sample questions in the Appendix to practice interviewing.
The most important thing to remember about job interviews is that they require thoughtful preparation. Successful
job candidates are comfortable talking about themselves candidly with a focus on their achievements and successes
and with a keen understanding of what the interviewer seeks from the candidate.
APPENDIX
Recommended Reading
101 Great Answers to the Toughest Interview Questions, (Ron Fry)
201 Best Questions To Ask On Your Interview (John Kador)
Crisp: Preparing for the Behavior-Based Interview: How to Get the Job You Want (Terry Fitzwater)
Knock 'em Dead, 2008: The Ultimate Job Search Guide (Martin Yate)
Mastering the Case Analysis: The MBA Guide to Management, Marketing, and Strategic Consulting Case
Interviews (Alexander Chernov)
Power Interviews: Job-Winning Tactics from Fortune 500 Recruiters (Neil Yeager & Lee Hough)
The Interview Rehearsal Book (Deb Gottesman & Buzz Mauro)
Websites and Online Subscriptions
Ask the Headhunter (www.AsktheHeadhunter.com)
Career Talk (www.careertalk.com)
Case Questions (www.casequestions.com)
Quint Careers (www.quintcareers.com)
On the Wharton MBA Career Management website
Clubs utilize the professional clubs webcafe databases of previously asked interview questions (The Wharton
MBA Case Study Interview Guide I & II, Wharton Consulting Club)
InterviewStream this web-based program is designed to produce the feel of a real interview, in a nonthreatening environment. In addition, InterviewStream gives you the invaluable experience of watching
yourself interview. With this program you will select your practice questions; a pre-recorded actor (serving as
an interviewer) will ask you those questions and will give you time to answer. Your practice interview will be
recorded and you will be able to view your session
Industry Areas leverage the information (interview resources, techniques and sample questions) included on
the industry-specific websites within our student site
Vault Career Library
Wet Feet Insider Guides
Chapter 7 | Interviews
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Chapter 7 | Interviews
12
Tell me about a time when you had to adjust to a classmates or colleagues working style in order to complete
a project or achieve your objectives.
Chapter 7 | Interviews
13
Teamwork
Describe a situation where those you worked with on a project disagreed with your ideas. What did you do?
Tell me about a time when you worked with a classmate or colleague who was not doing their share of work.
How did you handle it?
Describe a situation in which you had to arrive at a compromise or help others to compromise. What was your
role? What steps did you take? What was the result?
Tell me about a time when you had to work on a team that did not get along. What happened? What role did
you take? What was the result?
Tell me about a time when you successfully resolved a conflict.
Sample Technical/Market Questions
How do you calculate unlevered FCF?
What are specific valuation methods for different industries?
Why will a company choose debt over equity?
How do you perform a public comparable valuation?
How do you choose a comparable peer group?
What are the pros and cons of a stock vs. cash acquisition?
How do you perform an LBO analysis?
What factors drive an M&A transaction?
Walk me through the major line items of a cash flow statement
If you only had 1 financial statement, which would you choose to value a company?
If $10 of depreciation is left out, how would you modify the F/S? With and without taxes?
If $10 of account receivable is left out, how would you modify the F/S?
If a company changes from LIFO to FIFO, how would that impact its F/S?
What is the difference between operating and capital leases?
What are deferred tax assets and how do they arise?
Describe some recent deals that you have followed particularly in industry XX?
What are the key growth drivers of industry X?
Whats an inverted curve?
Where is the market going?
What is the relationship between inflation and unemployment?
What is our market cap?
What is the S&P 500 at? How much is it up YTD?
What is the P/E ratio of the S&P? Forward, trailing?
What stocks are in your personal portfolio and why?
What books about investing have you read?
What are the factors that will impact the overall market over the next year?
Which way do you think interest rates are headed?
What are your thoughts on the housing market?
Where is the price of oil heading?
Sample Scenario/Situational Questions
I am a potential client. Tell me about the firms approach to client service.
You strongly disagree with a teammate on the creation of your products marketing strategy. What do you do?
It is a crazy time of year you have too many things that need to be accomplished within a short amount of
time. How would you prioritize your work?
Sample Case Questions
A computer manufacturer was gaining market share but experienced declining profits. Why? What should it
do?
A client has bought a Russian satellite after the break up of the Soviet Union. A large company has offered your
client (an entrepreneur) $10 million for the satellite. He wants to know whether he should accept the offer and
sell it.
Chapter 7 | Interviews
14
Our client purchased a popcorn manufacturing plant that packages popcorn for two mid-sized brands. Once he
saw the margins, he decided to manufacture under his own brand. What does he need to do?
You have a hot dog stand in front of your office. It serves the workers in your building and two neighboring
office towers. You want to buy it. How much is it worth?
Your client has developed a new material for bathing suits and wishes to launch it. It is priced presently about
twice as high as a regular suit. What do you tell him?
Your client is ABC Firm, a large diversified company with a consulting products division that produces a wide
variety of beauty products. Five years ago, it expanded into the health care industry by purchasing Medical Firm
XYZ, which sells over the counter allergy medication. Since it was purchased, the health care division has
failed to deliver the growth needed to justify the multiple ABC Firm paid for it. ABC Firm feels it has already
squeezed margins as much as possible, and now is looking for new sales opportunities. Medical Firm XYZ
turned to Consulting Firm X to help identify potential ways to increase revenues. How would you approach this
problem?
Your client is the largest discount retailer in Mexico, with 300 stores spread throughout the country. Let's call it
MexCo. For several years running, MexCo has surpassed the second-largest Mexican retailer (250 stores) in
both relative market share and profitability. However, the largest discount retailer in the United States, USCo,
has just bought out MexCos competition and is planning to convert all 250 stores to USCo stores. The CEO of
MexCo is quite concerned and asks you: How should I react? How would you advise the CEO?
Our client, Bank ABC is one of the "big 4" banks in Russia. These 4 banks account for about 80% of the
retail/commercial banking revenue in Russia and are roughly equal in size. Bank ABC does not have a good
understanding of the profitability of its retail customer base and more specifically individual segments. One
segment that has been of particular concern to them is the "youth" customer segment. This group encompasses
all customers under the age of 18. Bank ABC wants the consulting firm to determine the average annual profit
of a youth customer as well as how they should strategize to maximize long term profits for this customer
segment.
I recently worked on a project for an American cat food company which was thinking about entering the Latin
American market. As a first step, identify how big of a market it might be entering if it begins selling cat food in
Latin America. How would you go about making such an estimate? This same company has also been seeing its
U.S. profits fall steadily over the last 2 years. They came to us to figure out why their profits had been eroding.
How would you go about doing this?
Chapter 7 | Interviews
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Consumer Products/Retail
Why do you want a job in CPG/why do you want to work for our company? Why are you interested in a career
in marketing/ brand management? What about your background, personality and skills makes you well suited to
this type of work?
Give me an example of a well/poorly marketed product.
Give me an example of a good/bad advertisement.
Tell me about a new product you would like to launch. How you would do that?
What skills does a good brand manager need? Demonstrate that you have these.
Tell me about a time you led a team/project.
Can you give me an example of a failed team experience? Why did your group fail?
What product are you most loyal to? Why?
What is the target market for product x? How do you know?
If product x was a person, who would it be?
If you were setting up a business school, how would you position it and how would you go about getting it into
the top ten?
If you had to market a new type of water, how and what would you do?
You are the CEO of McDonalds and you need to double sales in two years. Disregarding profits, what would
you do?
You are the #1 ketchup brand and there is a new entrant coming into the category. What do you do?
You have to go into a meeting with your boss who is a brand manager. You want to bring financials about the
brand but the printer jams and can only print out 3 line items from the financial statements. Which 3 and why?
Why do you want to market credit cards?
Energy
With the effects of deregulation, where do you anticipate our industry will be in five years?
Does it still make sense for energy companies to be vertically integrated businesses? What are the strengths and
weaknesses of such a strategy? Are they a viable and sustainable business model?
How would you value a power plant?
What is project finance? What are its advantages and disadvantages? When should a company use it as a
financing mechanism?
How would you value capacity (as compared to the energy revenue stream)?
What are X,Y,Z companies trading at? Why?
Do you expect current valuations to change given recent events in the industry?
How could we use the internet to improve our operational efficiency?
Our company wants to produce "green energy" using renewable energy resources. Is there a market for such a
product, and does it make economic sense?
Health Care
Describe an experience in which you have taken a leadership role. What did you learn from the experience?
Give me an example of how you have dealt with a difficult individual on a team.
Given your background, why do you want to be in ?
How would your friends describe you?
If you only had the resources to continue research on one drug - a potential blockbuster to prevent cavities or an
AIDS drug that may save some lives but will likely lose money - how would you decide between them?
We have a drug that is entering three months behind the first in class; how do you price it?
Why do you want to work for this firm?
How does a job with XYZ company fit into your long-term plans?
What are three things that differentiate our company from our competitors?
Your client is a large, diversified medical supply company with an 80% share of the suture market. The CEO
has just "heard" from a friend that a new laser technology can now serve the same purpose as sutures. What
does this mean to her business and what should she do about it?
A clinical laboratory has 13 labs. It is looking to improve performance. What performance measures would you
compare? How would you identify best practices?
Give us a little insight into what is happening in the health care industry. What does the yield curve look like?
Chapter 7 | Interviews
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Investment Banking
Walk me through your resume. Tell me about yourself.
Why Investment banking?
Why not consulting?
Why this firm?
What are you looking for in a firm?
Which area could you see yourself working in?
How would you value this type of company?
Give me an example of a recent group you have been involved with. What role did you play?
How would your learning team describe you?
What was your favorite finance class and why?
How are your grades? Do you expect to be on the deans list after first year?
What are your other interests?
What is beta?
What kind of banking do you like best (cap mkts, M&A)?
How does the I/S, B/S and CFS financial statements relate?
How do you perform a DCF valuation?
Explain the Black Scholes model
If one of your clients had extra cash laying around at the end of the year, what three recommendations might
you give him/her to use that cash?
Give an example of working under intense time pressure or deadline? How did you handle it and react?
One company has a P/E of 10 and another has a P/E of 35. What might this difference represent?
What other sorts of firms are you interviewing with?
Assume you get offers from other major banks. How will you make your decision?
What is your perspective on recent major financial news? FED, Mergers, etc.
Investment Management
Walk me through your resume. Tell me about yourself
Why Investment Management?
Why this firm?
Where do you see the stock market going over the next year?
If I were to give you $10 million with which to create a fund, how would you invest it? (A good answer
requires you to know where the equity and fixed income markets are today and to have a view on where theyre
going in the future.) How would your answer differ if the fund were high-growth? Or created for retirees?
What do you think Bernake will do next and why?
What do you think makes a good fund manager?
What is your most impressive activity outside of school?
Give me a stock you like. What are its P/E, competitors & beta? Why is it a good buy?
What is one stock you dont like? Why?
What have you been doing to prepare yourself for this career since coming here to Wharton?
If Im CEO of Dell, what sorts of questions do you want to ask me to forecast the performance of my stock?
What do you think about the fixed income market right now?
How would your learning team describe you?
What other sorts of firms are your interviewing with?
Where do you see yourself in five years?
What is your greatest weakness?
Manufacturing
Why are you interested in the Aerospace Industry/our Company?
What characteristics do you have that are important to this industry?
What steps would you take to expand our market share?
How do you feel about unions? How would you handle a dispute with a union?
Chapter 7 | Interviews
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How do feel about the relationship between state and market in the European collaboration? What made it a
success?
What interests you in this industry/company?
What do you feel are major globalization issues?
What would be your suggestions for entering a new foreign market?
If CAF standards increase, how will this affect the industry?
Should we enter the SUV market?
How can we cut vehicle development time?
Should we extend benefits to same sex partners?
How will the increase in gasoline prices affect the automotive industry?
Give me an example when you have worked on a team project and it has not been successful.
Why do you think the agrochemicals industry is in the shape it is?
What do you see as the next big market for xyz chemical company?
18
Why did you decide to get your MBA if you want to work in this public interest field?
What skills do you bring to this sector? How would they be useful for our work?
How have you demonstrated commitment to this career while at Wharton? Prior to Wharton?
What are you hoping to get out of this job/internship?
What do you want to do after Wharton? Where do you see yourself in 5 years? In 10 years?
What are your salary expectations?
Why do you want to work for this particular organization?
Can you give me an example of your experience working with limited resources?
Tell me about your experience building group consensus.
How would your current co-workers describe your work style?
[If targeting a specific location] Why do you want to work in this country/region?
[For international development] Describe what you think are the differences between working in a developing
country versus a developed country.
Real Estate
Why real estate finance and not real estate development? (or the reverse of this)
What do you specifically like about our firm?
What is your background in the industrial (or other segment) market?
How long do you plan to stay in real estate? Why would you leave? (are you really committed)?
What are the hot markets and how long do you think they will remain hot?
What is a cap rate? How would you develop a capitalization rate for a class A office building in NY?
What is your opinion as to the growth/consolidation of the REIT market?
What property sector do you find most promising? Least desirable?
What is FAR? Why is it important?
If you had $100 Million dollars, where would you invest it? Why?
If you were preparing a memo for a real estate investment committee, what would you include?
What are the 3 methods of appraising a property?
What is a triple net lease?
What is an expense stop? Why is it important to the landlord?
What sector of real estate are you interested in? Why?
How would you value an office building? Retail building?
What is FFO? Why do REIT analysts use it?
Is the housing market overvalued?
Do you think real estate investors are justified buying at lower cap rates? Why or why not?
What real estate classes have you taken?
Two properties are across the street from each other in Midtown Manhattan. The properties look exactly the
same from the outside. Why might one be worth more than another?
What is NOI? How do you compute it?
Why this part of real estate (example: development of commercial office)? How does that fit with our
organization?
Do you see a problem with private equity firm borrowing short and buying long?
For people with any experience in real estate: What was your best project and why; what was your worst project
and why?
What is CMBS?
What opportunities exist for our company in real estate?
What is LTV?
What kind of leverage can you get on a fairly well-leased office building? Would it all come from one lender?
How would that leverage be priced in today's markets (spreads)?
What is mezzanine financing?
What's the relevance of the amount of floating versus fixed rate debt a REIT or Real Estate company has on
their balance sheets? Is one better than the other?
Chapter 7 | Interviews
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20
Chapter 7 | Interviews
21
your answer immediately) so that they can fill their staff needs and manage their yields. Communicate that time
to evaluate the offer/conduct due diligence is in the best interests of both you and the company
Continue communicating with the employer throughout the evaluation process
Be prepared for tactics designed to pressure you into making a quick decision
Even after an offer has been extended, you are being evaluated. Behave in a way that keeps the hiring manager
excited about the potential for you to join the organization.
Tips:
1) Be thorough. Compile the necessary information to conduct a complete evaluation. Identify current
employees who know the organization and the position you are evaluating, and ask them questions to
assess if the position meets your needs. Seek input from people who maybe unfamiliar with the position
(e.g. your spouse, partner, children or other family) but will be impacted by your decision
2) Be true to yourself. Try not to allow your feelings to be clouded by other peoples values, expectations, or
pressures
3) Be realistic. Few jobs are perfect and all will require tradeoffs. Ask yourself if the offer you are considering
is a step small, medium, or large towards your desired career
number of other offers, you are not in a position of power. While the employer has the power to meet your
terms, he/she is likely to have at least one candidate waiting to take your place
Practice. Know what you are going to say and how you are going to say it. Think of different scenarios that
might occur during the conversation and try to prepare for as many as possible
CONCLUSION
After reading this chapter you should understand that your journey to the right job does not end the moment an offer
is extended. Managing job offers is part of the job search continuum and requires the same focus, diligence and
attention as networking, writing resumes or interviewing. Use this chapter and the sample offer evaluation questions
in the Appendix to prepare yourself to respond well to offers. Successful job candidates are comfortable preparing to
receive offers and evaluating them fully before making the final decision.
APPENDIX
Recommended Reading
101 Salary Secrets : How to Negotiate Like a Pro (Daniel Porot & Frances Haynes)
Are You Paid What You're Worth? (Michael OMalley)
Get Paid What You're Worth: The Expert Negotiators' Guide to Salary and Compensation (Robin Pinkley &
Gregory Northcraft)
Haldane's Best Salary Tips for Professionals (Bernard Haldane Associates)
Negotiating Your Salary: How to Make $1000 a Minute (Jack Chapman)
Perks and Parachutes: How to Negotiate Your Executive Contract (John Tarrant)
The Quick Interview and Salary Negotiation Book (J. Michael Farr)
Websites and Online Subscriptions
Career Journal (www.careerjournal.com)
Job Star (http://jobstar.org/tools/salary/index.php)
Pay Scale (www.payscale.com)
Pay Wizard (www.paywizard.co.uk)
Salary Expert (www.salaryexpert.com)
Salary.com (www.salary.com)
Totally Financial (www.totallyfinancial.com)
Wall Street Journal (www.careers.wsj.com)
On the Wharton MBA Career Management Website
MBA Career Report (including archives) provides placement and compensation data based on reporting from
last years 1st and 2nd year classes. This is an excellent resource for compensation information based on
industry, function and geographic location
Salary, Negotiation & Timing Reports provide a general sense of the hiring timetables within a given
industry. Reports are in PDF format and broken down by class, geographic location and industry. The
information provides a sense of when and through what channels offers in particular industries are secured
Vault Career Library
Wet Feet Insider Guides
Questions to Evaluate an Offer
The Position Identify answers to these questions before or during interviewing; doing so post-offer is too late.
Are the day-to-day tasks routine or project oriented? Does the position require individual or team work? What
degree of variety is there? What degree of independence? What degree of intensity?
On what will you be evaluated? How? By whom? For assignments abroad, clarify whether annual reviews and
any promotions are the responsibility of home or assignment country office; for a foreign-owned firm, are
procedures and standards those of headquartered country or the U.S.?
What percentage of your work involves skills you do not yet have? What effort will it take to learn these?
What training or support is provided?
What parts of the job are you already competent in? What percentage of your work time will involve these?
Chapter 8 | Offer Management
The Company
Reputation or prestige
Size and sales
Growth/positioning
Profitability
Stability
Integrity/ethics/values
International operations
Importance of your division or group to the company as a whole
Quality of management
Management style: Hierarchical? Team or consensus-oriented? Do people wander into each other's offices or
arrange meetings? Communicate by memo or by phone? If the company is foreign-owned, what percentage of
management is American? How does this affect management style? Communication informally across levels
or only within?
What is the companys culture? Does the company value....Innovation? Accuracy and precision? Results?
People? Does it fit your skills and values? Does the company welcome and value people of differing cultural,
ethnic, or racial backgrounds?
How does the future look for the company as a whole? For the department/group you'll be working in?
Potential for Advancement
How long does it typically take to get promoted to the next level?
How does the position fit with your long-term goals?
What are the career paths of those above you? Of top managers in the organization?
What is the average timing of promotions? Flexibility for exceptional performance?
Will you have the ability to move cross-functionally?
How transferable are your skills and experience after two-year, three-year, five-year tenure?
What is the availability of additional training or education?
What is the compensation potential?
Is transferring or relocating necessary or desirable for advancement? At what stage of career? Domestic or
international?
If initial assignment is abroad, what level/title can you expect when repatriated? What degree of effort will you
have to put in to make this happen? What has been the experience of others in the company?
Compensation and Benefits Ask these questions between receiving and responding to the offer.
What is the base salary? For international assignments, will salary be in home or assignment country currency?
Exchange bands to protect against wide foreign exchange swings?
What have bonuses been for this position/department for the past several years?
How quickly can I expect my base salary/total compensation to grow?
What is the authorized salary range for this position?
What is the bonus potential starting or annual? How does individual performance affect annual bonus? Equity
or profit-sharing potential?
How are annual salary bonuses determined? Average percentages in recent years?
Are medical and dental coverage provided? What are the costs?
What is the vacation policy? Annual paid home leave from international assignment? What is the sick time
policy?
Is there a relocation expense or allowance? How is this paid (i.e., reimbursement with receipts or lump sum
beforehand)? For international assignments, consider weight limits, shipment of car, appliances (or allowances
for these, method and timing of shipment, storage in home country, relocation costs upon completion of
assignment).
What is the maternity/paternity leave policy?
Is there childcare assistance? Real estate broker's fee? Paid trip to seek housing? Lodging costs while between
homes? Housing allowance while on international assignment? In which currency? Relative to what
expenditures? Assistance in maintaining home country residence?
Tax consultation and equalization for international assignments?
Cost of living allowance on international assignment? How calculated? How paid?
Educational benefits? Language training for self, family on international assignments?
Company car?
Club association/Membership
Commuting expense/parking
Company car
Dental insurance
Disability insurance
Equity/Stock options
Expense account
Flex time
Incentive savings
Life insurance
Maternity/Paternity leave
Moving/Relocation expenses
Office furnishings
Paid vacation
Retirement/401K plan
Sick leave
Sign-on bonus
Yearly bonus
Optical insurance
Profit sharing
Education reimbursement
Childcare expenses
Termination agreement