With 2018 upon us, it’s a good time to review 3 trends shaping the future of hiring solutions. It’s a constant battle to attract and retain finance and accounting talent. After surveying our base of clients, we found these common themes in their HR strategy that you should consider in the upcoming year.
Shared Economy Model for Temp Staffing
Or shall we say the Uberisation of temporary workers. This is a trend that we’re going to see over the next few years, in particular temp staffing for finance and accounting roles.
We’ve seen this disintermediation in other industries, like Uber has dramatically changed the transportion industry. We’re seeing this already in recruitment with tools like Task Rabbit and Thumbtack, where you can literally use an app to just find somebody available to do handyman work.
With a simple swipe on your smartphone, you pay by credit card to hire a professional to complete your job. The final step is a feedback mechanism where both the pro and you rate each other.
App based automation has completely transformed a number of different sectors and industries:
This trend will penetrate further, and we are going to see it more in temp volume staffing. At a recent HR Tech conference, a speaker described recruiting and building a team as parts of a computer. You can go to a computer store and buy parts and pieces which provides you the flexibility to add various parts to your setup. Temp staffing works the same way. As long as somebody has the right skill set, companies are becoming more accepting of part-time and temporary assignments.
Going back to the example of Uber – the driver doesn’t matter. The car type doesn’t matter. As long as the app helps you get from Point A to Point B, then it’s as good as taking the subway or a yellow taxi (if you’re in New York).
This shared economy is the way of the future in all segments of recruiting and temp volume staffing. Perhaps you need a receptionist to come for a day and you have simple requirements. They arrive and leave at the specified hours and can manage a simple scheduling tool.
The current workflow is that another admin or office manager will call a staffing agency which provides a list of resumes. Then you must take the word of the placement agency (who is paid on a commission) that their temp worker will be the best of the lot.
In the Uber model of temp staffing, you’ll still need a phone – your smartphone. You open the app and then filter through thousands via a matching algorithm filtered on a few different criteria. You get real profile pictures. You get real resumes. You can probably even call these candidates.
Based on several reviews (not just the “expert” opinion of one placement agency), you hire the best person. And one more thing:
Just like Uber, the company also vets the professionals for criminal history and only lists real professionals who can do the job successfully. Hence, you won’t even need to do background checks. And just like Uber, this will be on-demand so your temp receptionist can be at your office the next day.
Because of this trend to Uberizing temp staffing, we’ve developed the app that can help companies with on-demand talent. We’ve seen a larger portion of our placements as temp staffing because companies have found that temp staffing (especially at start-ups) are cost-effective solutions to their finance and accounting needs.
For a full comparison of the pros and cons of full-time versus temp staffing, check out our article.
The industry hasn’t fully shifted into app hiring for full-time employees. Perhaps one day but we’re not there yet. The reason is cost. When was the last time you purchased something via an app that cost you more than a few thousand dollars?
When was the last time you bought a car online? Most people would say never because buyers like to test drive the car, kick the tires, talk to the “experts” at the car dealership and shop around.
It’s the same thing with recruiting full-time employees. Full time workers are a big investment – not just in terms of money but also time. You’ll be sitting next to this person 40 to 80 hours a week. You’ll be going to “war” with this person in various conference calls and client meetings. You want to make sure the fit is right.
Scanning profiles from an app doesn’t provide enough insight on some of these qualities. Technology is great at presenting quantitative data. It still has a long way to go in terms of assessing the human qualities that recruiters look for when evaluating a new hire.
Online Reputation Management
Reputation is really important, and organizations pay top dollar for agencies to manage their online presence. It’s also important in the tourist and travel industry. For example, Trip Advisor was one of the first to do this on mainstream. On Trip Advisor, a user can read thousands of reviews on a particular hotel property or experience.
Yelp is another example, where the success or failure of a local restaurant could depend on user generated reviews of the establishment. Yelp has replaced the need to pick up the New York Times Sunday edition and check out the hottest restaurants. Now, all one needs is to head on over to Yelp and find the best restaurants for any genre or type.
In 2018 and beyond, we see this ratings system extending into the recruiting industry. What if you search for accountants in New York, look up their resumes, and rank them by ratings?
Today, the filtering system is the agency. An agency collates resumes, and they send the resumes to the client. At Vested and other similar apps, we’re seeing clients eager to cut the middleman out. The middleman mind you who’s incentivized to fill the placement, regardless of fit, to get paid. They want direct access to the candidate. They want to see their resumes and a way to score them according to their opening.
With this trend in mind, job seekers would do well to maintain a professional online portfolio. Update LinkedIn and fill out their Vested profiles completely. These steps will help you stand out among the crowd.
Online reputation extends to companies as well. This is why Glassdoor or similar sites are so popular. Candidates want to read reviews and see star ratings on companies.
Candidates don’t want to be stuck in a job with a company with a bad reputation. Hence, companies nowadays spend thousands of dollars for agencies to manage their online reputation. A Glassdoor rating or Vested profile can have a direct impact on your ability to recruit and retain top finance and accounting talent.
Active Management of Candidates (Outreach Model)
Finally, the last big trend is the concept of active management. Currently, most HR strategies are passive in nature. HR departments will only start seeking candidates, when a spot opens up in one of the divisions. When an opening arises, HR departments initiate their flow: call the agency, farm for resumes, screen for resumes and hope one of these resumes come from the ideal candidate.
This reactive approach to recruiting is not the optimal way to manage personnel. In this approach, you’re always at the mercy of active job seekers which may not suit the requirements at that moment in time. Often, these are not the best candidates in the industry.
In the active management model, HR professionals don’t wait for an opening to reach out for candidates. HR professionals are constantly reaching out. They search in LinkedIn for the best profiles. They read blogs or watch videos from authoritative sources. They engage and connect with them and maintain a strong rapport.
In sales and marketing, this is called “pre-selling.” When a salesperson pre-sells a product, they are informing customers about the product or service, and through informative content, the salesperson hopes to create future demand. Marketers often point out that it takes seven contacts before a salesperson can make a sale. Hence, there is a lot of pre-selling before a consumer actually purchases a product.
This concept of pre-selling interest in potential employees can work really well in the recruiting. When we surveyed our most active users (companies who are hiring), we found interesting results. They use Vested (along with LinkedIn) to nurture interest from candidates who have attractive profiles.
They spend half the time setting interviews and funneling candidates to the recruiting flow, and they spend the other half reaching out and “pre-selling” the organization to ideal candidates.
Our clients who use the active management model have higher conversion rates when they bring in candidates they’ve already pre-vetted via prior outreach campaigns. They’ve identified top candidates and pre-sold them on the benefits of working at their organizations.
Vested as a Next-Gen Hiring Solution
After reviewing the results from our clients, we at Vested feel even more confident that our platform is the next-gen recruiting tool to connect job seekers to companies who need them. It’s a platform where both sides can interact with each other and “pre-sell” the benefits of a working relationship.
It’s a cost-effective platform, where hiring managers have direct access to candidates. It’s a platform pushing the boundaries and laying the groundwork for the future of the recruiting industry.
With over 8 million occupants, New York City is by far the largest city in America. Serving this massive population is a slew of businesses offering countless employment opportunities for finance professionals. As a result, New York City is one of the best places to find an accounting job, and in this accounting career guide, we’ll show you how to snag that dream job.
A large number of major corporations make the city their home, including major players in the finance, media, and entertainment worlds. There are an abundance of opportunities for professionals at all levels and specialties, including bookkeeping, accounts payable, and staff accountant roles.
Who’s Hiring For Accounting?
It’s a city that never sleeps, and that saying also applies to the numerous businesses that call New York City home. Many of these businesses require large accounting staffs that can work 365 days of the year to keep up with all the commercial activity.
Furthermore, various well-off people who dwell in NYC additionally require master bookkeeping firms to deal with their accounts.
While the real firms are situated in Manhattan, there are also many firms hiring in the nearby boroughs. Brooklyn’s quickly developing fame has prompted an expansion in openings for work in the range, so don’t avoid this district from your pursuit of employment.
What’s the Accounting Salary in the Big Apple?
The typical cost for basic items in NYC is very high, so it really is great that accounting occupations pay handsomely in the city. Expect a normal pay of about $80,000 for someone experienced. This is well over the national average salary for the field, which is around $65,000. Senior accountants and managers can command over $100,000 per year.
Those with aptitude in a specific zone of bookkeeping, for example, reviewing or universal assessment, could get paid more by functioning as an expert to organizations or bookkeeping firms.
How to Apply for Accounting Jobs in NYC?
It is actually very simple to apply for accounting jobs. You just need to find open positions on a job board like Indeed or LinkedIn. Then send the hiring companies your resume letter online, containing all your past work and education experiences as well as an explanation of why you are qualified for the job. Then presto! You are hired.
If only it were that easy! New York is filled with many qualified candidates so expect lots of competition for those accounting jobs. Read up here on how to build up and enhance your credentials. It really does help if you can network via LinkedIn.
Try networking with past colleagues, or reaching out to old college buddies. Your natural market is the best way to get an “in’ into an organization.
Finally, one of the best ways is to use Vested. We match talented finance and accounting professionals with the fastest growing startups. It’s very simple. Just click the button “Sign Up” and link to your LinkedIn profile.
You’ll need to fill out a few small details about yourself, like your goals, needs and expectations. List your accomplishments and past work history and then we do the rest. Using our connection at startups, we’ll match the right role for your skills and career goals.
Immediate Openings in Accounting
According to our database of hiring companies, the top two positions that have openings are Accounts Payable Clerk and Staff Accountant.
The duties related to the job of an Accounts Payable specialist vary from organization to organization. You will be a vital member of the team that has the task of maintaining accounting operations for a particular department in the organization. To achieve success as an Accounts Payable Clerk, it’s key to understand job expectations and what it takes to exceed them.
Here is a basic job description for this accounting role:
Financial analysis and office administration
Checking and Verifying receipts and monies owed to vendors
Create invoices and vouchers
Filing, typing and posting ledgers
Make sure the debits and credits tie out
Variable costs are assigned to right cost centers and applied to the appropriate legal entities
Maintain accurate records of employee pay
Manages the record keeping and maintenance of invoices, receipts and other vendor documents
Balance records with respect to accounts receivables and payables
Manage the reimbursement and tracking process for travel and entertainment expenses
Be the “go-to person” for updating bank records and daily cash positions.
Accounts Payable Clerk Salary
According toGlassdoor, the national average for an AP Clerk is $31,587. In New York City, the salary for accounts payable clerk jobs is closer to $40,000. This is based on various openings from startups that have signed up atVested’s Employer Services.
Moreover, startups are lean on traditional benefits like matching 401K. However, they make it up in year-round casual dress codes, foosball tables, beer in the fridge, and high visibility. Startups are lean in general so it’s easier to rise up the ranks from an Accounts Payable Clerk to a Staff Accountant.
If the startup gets big enough or even goes public in 5-7 years, someone who started out as an Accounts Payable Clerk could easily be a candidate for a Controller job. This is the beauty of working for a startup: achieve success early and you will be recognized.
How to Achieve Success as an AP Specialist
We’ve done a recent survey of our startup clients, and we asked them what it takes for an Accounts Payable Clerk to succeed in this unique world.
Here are the highlights from that survey:
Constantly improve accounting skills and get more exposure in the accounting world
Review own work during month end to free up time for the senior accountant and/or the accounting manager to do more analysis
Make sure all accruals are defect free and hitting the right accounts so that there is no clean-up work to be done after
Make sure the accounting schedules tie out and see if there are ways they can be improved
Ensure the accounting team has an efficient and accurate Cash Process
Maintain constant and open dialogue with banks, and/or third-parties who specialize in cash processes (i.e.Stripe)
Analyze historic daily balances in Stripe to ensure we are forecasting correct
Perform a daily rec for stripe so that we have daily balances moving forward
Implement an AP automation software to drive efficiency and accuracy
Setup and manage the AP automation software that makes obtaining invoice approvals easier
Implement a process where invoice would be uploaded automatically into Netsuite
Improve AP aging process and work with department heads and the C-level executives to get pre-approval on fixed recurring monthly invoices. (Ex. Office supplies, Internet, travel & entertainment, office snacks, rent and utilities)
Constantly Improve finance skills and get more exposure to modeling
Work 1 on 1 with senior accountants and/or accounting manager to improve modeling skills
Take on small ad hoc projects to figure out what skills need to be improved
Ensure which important metrics are needed for forecasting
Partner up to ensure we have a smooth budget process.
Most of these things are typical expectations for an Accounts Payable Clerk. The main difference between working for a large corporation and a startup is the amount of work, and the ability to prioritize and knock out tasks.
According to the startups we’ve surveyed, this ability to multi-task and manage uncertainty is the number one skill to achieve job success as an Accounts Payable Clerk.
Staff Accountant Role
Although the staff accountant is one level higher than the Accounts Payable clerk, the job requirements are very similar. Most startups, or any business looking to hire a staff accountant, often require the following things:
The ability to analyze information from the general ledger
Prepare internal and external financial statement for the organization
Prepare payments for accrued expenses, and manage disbursements
Assist the Accounts Payable Clerk in reconciling accounts
Answer questions related to finance and accounting by analyzing information and conducting research
Solid understanding of math to calculate depreciation and cash flow impact of accruals
Comfortable with Excel modelling to help the Finance team with budgeting and forecasting exercises.
Skill and Educational Requirements for a Staff Accountant
This is where the Staff Accountant is slightly different from an Accounts Payable Clerk. Most businesses prefer their Staff Accountants to have a bachelor’s degree, which usually takes four years to complete. While in university, the Staff Accountant should have taken all the accounting courses, business courses, management courses, information technology courses, and ethics courses.
The curriculum might also include courses regarding macroeconomics, business communications, computer applications, statistics, and accounting information systems (which is one of the most important for the future according).
Furthermore, hiring firms require their Staff Accountants to have 2-3 years of prior accounting experience, preferably with one of the Big Four accounting firms (i.e. KPMG, E&Y). Finally, a Staff Accountant would need a CPA to work full time in a finance team at any business, including a startup.
The experience and educational requirements are different for Clerks because these roles require an Associate’s degree. It is not uncommon for Accounts Payable Clerks to work full-time and study after hours to acquire the necessary credits to sit for the CPA exam. Passing the CPA Exam is necessary if an Accounts Payable Clerk wants to get promoted to a Staff Accountant role.
Finally, Staff Accountants are expected to fulfill theCPE requirements to maintain their CPA license. The requirements are different from state to state. For example in New York, a CPA would need to do the following to maintain their license:
Complete a minimum of 40 hours of continuing education in any of the recognized courses
Complete a minimum of 24 hours in a concentrated subject area. Approved topics include but not limited to accounting, auditing, taxation, advisory services and specialized knowledge regarding accounting in a specific industry (i.e. real estate, patent)
If an organization’s accounting department is big enough, then it could provide courses to help it’s in-house CPAs complete these requirements. However, in the case of most startups, they don’t have sufficient cash to pay for the continuing education of their staff. Hence, Staff Accountants need to fulfill the CPE requirements on their own.
Achieving Success as a Staff Accountant in a Startup
We’ve surveyed our clients about how a Staff Accountant can work effectively in their unique work environment. Here are the highlights of the survey:
Staff Accountants are expected to perform a detailed review of the financial statements and monthly variances; create value through deep analytical knowledge on accounting processes; and identify any errors and adjustments that need to be made
Perform a detailed review of monthly variances to ensure no accruals/reversals/bills are missed during close
Ensure accounting processes comply with GAAP
Analyze expenses by department on a vendor level
Meet with department heads to review monthly expenses to ensure all accruals, reversals and bills have been recorded
Create a monthly variance analysis in each schedule to understand expenses in detail
Set-up, own and drive an efficient process for balance sheet accounts to ensure accuracy in reporting
Analyze and review balance sheet accounts by journal entry since inception to identify any process errors and adjustments
Lead the communication to develop a new process for recording these accounts
Develop a more analytical knowledge about these accounts to provide deep insights on how to create an efficient process for accurate reporting
Determine the amount that is reasonable to write-off based on the analysis that is performed
Improving the Budget Versus Actuals (BVA) process
Identify fail points and opportunities on processes before business owners do
Drive process to ensure business leaders are prepared in the monthly meetings by reviewing and confirming the expenses prior to closing the books
Perform detailed analysis and having explanations on large or inconsistent variances
Create an environment of “no surprises.”
Finally, the HR departments at most startups emphasized that “emotional intelligence” or EQ is more important than technical skills. Startups are a fast paced environment, and the Staff Accountant would need to be comfortable working independently.
Startups don’t have a large finance or accounting department, and the staff do not sit behind walled off cubicles.
It’s usually an open office setting with high visibility. So a Staff Accountant at a startup should be comfortable with all types of people (from an engineer requesting T&E reimbursement to the CEO asking about daily cash positions) to come to his or her desk.
The Staff Accountant role involves handling these ad-hoc requests efficiently and effectively, while still leaving sufficient time to complete his or her other regular tasks.
Some of the roles that firms are looking to fill:
Senior Financial Analyst
Director of Accounting
Vice President of Accounting
Chief Financial Officer (many startups prefer Big 5 credentials)
How to Get that Accounting Role
As we discussed in this article, figures quite often add power and believability to what you highlight on your resume, particularly when you are applying for accounting work.
Lots of employers like to see impressive numbers on your resume. Working on the budget for the lightbulb division in General Electric is not as impressive as managing a $50 million budget at a tire factory.
Yes, GE has the brand name, but stating your role doesn’t provide context. However, if you show on your resume, that you managed a $50 million capital budget for a company that has $75 million of gross revenues – then it’s a powerful story. It shows that you were important enough in the organization to manage a budget that is 2/3 of their entire annual gross revenues.
Be Prepared to Explain Your Credentials
Yes, there’s a limit to this. Something may look incredible on a resume, however consider how it will sound when somebody gets some information about it in the meeting. For instance saying that you “expanded organization benefits by 200%” opens yourself up to questions including “what particularly did you do to build benefits?”
On the off chance that you don’t have a nitty gritty system and operational guide for how you accomplished this, your interviewer will stay extremely suspicious of your prospects.
The Mental Game
Regardless of how great your pursuit of employment methodology, there’s continually going to be disappointment and dismissal. It’s inescapable. In any pursuit of employment, you can’t get to that “Yes, you’re hired” without loads of “No, we’re not interested” reactions.
Thus, it’s urgent that you get practical about the path towards landing a position and have the correct attitude to deal with setbacks. Without the capacity to drive forward, you won’t get very far. They say it’s a dog eat dog world in New York, and it’s especially true when it comes to finding the very best accounting jobs in the mecca of finance.
As we discuss here, it’s important to have a winning and sturdy mindset to deal with the ups and downs of finding that dream accounting role:
#1: Relish the Challenge of Finding the Right Accounting Job
The normal time it takes to find another employment is a month and a half. There’s a great deal to do when attempting to find your next employment opportunity, from researching the role and company to interviewing. Finally, there’s the soul searching part. This is probably the most important. We spend a lot of time at work so we must constantly evaluate why we’re doing this and why we should care.
#2: The Recruiting Game is just Statistics
It’s anything but difficult to romanticize one specific opening for work as “the one.” This happens regularly when you have one process going and all your eggs are in one basket. Perhaps, you’ve had an eye for that dream internal auditor role at a hot startup, and you’re focused only on that one role.
You open yourself up to major disappointment if it doesn’t pan out. It’s much better to spread yourself wide. Apply to various positions. Meet lots of people. It’s not rare that you interview for a Staff Accounting role and they give you a more managerial role because your specialty is needed in the organization.
#3 Power Through Tough Times and Keep Learning
You’ll likely go through various cycles of applying and not getting a response. Then when you finally get a response, the interview doesn’t go well. It’s a frustrating process that you have to compete with so many qualified accounting professionals in NYC, but it’s the recruiting game in the big city. Instead of being frustrated, keep your head up, keep networking and keep working on your resume and interviewing skills.
#4: Stay Positive!
Whenever you advance through the interview process, ensure that you record these wins in a diary that archives your triumphs and lessons learned as you experience this trip. It will come in handy when you feel stale or when you experience the hardships of finding that dream accounting job.
Attempt to recall that enormous victories are just the result of numerous littler triumphs included!
Interviewing for An Accounting Position
Here we have a more extensive review of how to prepare for your interviews:
What are your qualities?
What are your shortcomings?
Why are you intrigued by working for us?
Where do you see yourself in 5 years? 10 years?
What would you be able to offer us that another person can’t?
What are three things your previous supervisor might want you to enhance?
Educate me regarding an achievement you are most pleased with.
Enlighten me regarding a period you committed an error.
What is the ideal job for you?
What might you fulfill in the initial 30/60/90 days at work?
So be ready to answer any of these basic inquiries questions. Be honest and succinct but don’t sound monotone. Memorize a general script that answers each and every question, but don’t just regurgitate what you memorized.
Learn to vary your tone and overall emotion so it looks and feels natural. The meeting ought to be a discussion that ideally finishes up with you being offered the occupation you had always wanted.
Finally, when it comes to interviews practice, practice, practice.
If you are 2-3 years out of college or from your MBA school, it could be possible to set up mock interviews with the Career Center at your alma mater. This is often free for alumni so why not take advantage?
In today’s world, interviews can be done via Google Hangouts, via person or by phone. You have to be comfortable to showcase yourself and your skills in all mediums of communication.
If you find yourself stumbling in a video interview, then use the career center of your old university. Ask someone there to interview you via Google hangouts. If it’s in person interview that requires improvement, why not visit your old campus?
Another easy way to practice interviewing is with friends and family. It’s a comfortable way to practice answering questions. One caveat – friends and family are the worst critics. They will highlight the strengths but tend to overlook your weaknesses. Just keep this in mind when using friends and family to interview.
Then there’s scheduling informational interviews through your LinkedIn network. This does two things. First, you get to practice your interview skills with someone in your industry and get honest feedback. Second, you can strengthen your relationships with existing business contacts by reaching out to them.
If you can schedule interviews or meetings with people outside your network, then that’s even better. This helps you build your network, and perhaps, that person can pass on your resume to his or her company’s human resources department.
Courtesy Still Counts
Finally, we get to the often asked question of do I need to follow-up after an interview. It never hurts to thank your interviewers for their time. Usually, this is best done right after the interview. A short email of two to three sentences should suffice and make sure to use their business email.
As for further follow-ups, it’s good to check up a week from your interview, unless they explicitly tell you to wait for a specific time period. Again, a short polite email should suffice, and if it’s two weeks, then I’d pick up the phone and call.
You’ve Got the Accounting Job
First, congratulations once you land that dream accounting role. Anyone that has gone through a job search – any job search – in New York City can tell you how hard the process can be.
Make sure to submit your two weeks’ notice, and share your LinkedIn contacts with close colleagues at your soon-to-be employer. Although you are going to another position, it’s always good to stay in good graces with your old employer. You never know when you might be on the hunt again for another accounting job in New York City.
As serial entrepreneurs, we understand the challenge of finding reliable recruiting solutions to find accounting talent or recruit top finance professionals. We commend Hired.com for pioneering the intelligent matching HR technology to assist with recruiting engineers, and we feel that this approach can work in other fields. This is why we developed the next big thing in HR tech:
Recruiting the best finance professionals is of the utmost importance for the growth of any organization or institute in today’s shifting business landscape. The recruiting process begins with reaching out to those people in the world who have the requisite skills for the position.
Most of the corporate institutions, business houses, industries, organizations and government agencies know what they are looking for in their future financial workforce, but they may lack the means of reaching them.
Moreover, recruitment can be a time consuming process if you are a small team of professionals or a startup. This is where Vested comes in. All you need to do is tell us your requirements and we will find you the right person to manage your finances.
Corporate finance and FP&A (Financial Planning & Analysis) are the backbones of understanding and managing a business. All businesses require a finance team (whether it is a team of 1 or 100) that are responsible, intelligent and possess sharp business and management acumen.
Our team is dedicated to helping companies of all types and sizes meet their finance and accounting staffing needs. We promise to use our state of the art technology to provide you with high-caliber finance, investment, and banking professionals. Whether you need entry or senior level staff, short-term consultants or permanent employees, Vested offers solutions to aid your business.
We are well-connected and knowledgeable of the insurance, banking, and finance sector. While we specialize in startups, we also cater to a number of investment banks, corporate enterprises, commercial banks, and local businesses.
Vested’s HR Tech Solution Simplifies the Recruiting Process
Unlike others in the HR field, we are not mere headhunters or recruiters. We are dedicated professionals who use our proprietary intelligent matching technology to curate and match you with the best and brightest finance and accounting professionals.
One approach we use to attract talented candidates is to target early career professionals who wish to prove their mettle.
We are connected to the brightest young minds in the field and keep tabs on their career development. We have a huge database of carefully curated talent that grows by the day. Armed with this knowledge, we have the right candidate that will fit perfectly in your business. More and more young professionals have landed up in dream jobs with a gentle but professional push from our end.
How do we attract the top talent in the finance and accounting field?
We pre-screen candidates to make sure they have the qualifications most employers find desirable (i.e. top schools, diverse skill set, gradual career progression, certifications)
We work for your firm as though we are hiring people for ourselves.
Recruitment and Candidate Assessment with Vested’s Intelligent Matching
We start work as soon as you contact us with your need! And we ensure you get the results within a week’s time.
Our recruitment process begins by working with you to identify your business needs. We will initially try to find your match among the candidates already in our database, but will conduct additional outreach if you have specific qualifications or needs.
Once we get a list of candidates matching your qualifications criterion, we pre-screen them to see if their skills and temperate match your company’s needs and culture. We are determined to get the most skillful, sensible, and intelligent match for your job.
Every candidate we provide has been screened and if hired, will be ready to start working from the first hour of day one. This is the recruitment process that we follow.
We will work with you to identify the position, qualifications, experience and additional requirements needed for the job.
Querying the Vested Database for candidates with matching credentials- Since we have a big database of applicants, we first query it to get a list of the people who have applied earlier for similar jobs.
Preliminary Interviews by skill experts to shortlist- Before the client-side experts step in for final selections, our experts make the job of recruitment easier and shorter. The applicants selected after screening are interviewed by the Vested experts in the specific field and select the candidates who have potential to excel in the said job.
In such cases, we prepare the written exam or practical test to be taken by the candidates qualifying the preliminary interview phase. The test is conducted and the selected candidates are selected to appear for a final interview.
Final interview by client organization Official and Experts at Vested – This is the final stage of selections. The client organization will put the selected candidate(s) through their interview process.
Job and organization Orientation- In the last stage of recruitment, we conduct an orientation program for people who have been selected for the job. During the orientation program, they are given details about the job and the employer organization so that they can gel in at the new workplace from day one.
Our specialization in finance sector recruitment is the best service for employees as well employers. With the right connections at the right place in finance industry, we ensure that is presented with the perfect opportunity for growth.
We help our clients in the following departments and activities
Our success and our clients’ trust lies in the way we focus on providing staffing solutions mainly in the fields of corporate finance and FP&A for startups. In fact, our stringent measure to recruit our own recruiting consultants is one of our greatest strengths. All of Vested’s consultants and professionals have been selected as a result of their expertise in the finance and recruiting industries.
We put countless hours building our team, and use even more rigorous standards when we recruit candidates on behalf of our clients.
Why are our recruiting services the best HR solution?
The right resources, aptitude, and attitude make all the difference. As far as recruiting services are concerned we are counted among the best for the following reasons:
Over the years we have communicated with countless candidates and own a large repository of candidate resumes. This collection includes financial professionals who can be employed for jobs at every rung of the organizational ladder. You name it and we have it! And more and more qualified and experienced candidates are joining us each day.
We believe in the fact that quality attracts quality. As such our entire team of experienced and intelligent recruiting consultants is well versed in every aspect of the financial industry. From hedge funds to investment banks to corporate finance in a S&P 500 company, we understand what it takes to build a winning finance team.
Why us and no one else?
We consider the recruitment needs of our clients as our own. That’s why we work hard to find the right candidate.
We call, discuss and screen the candidates ourselves. No one else is involved in this process except our own experts and professionals and of course the clients. The level of professional dedication has resulted in earning the faith of our clients. We can proudly admit that we have been able to retain our clients, build relationships while earning and growing business with the help of unbelievable customer service.
It’s a mark of pride that some of our own employees who have been working here for years have left to join the best companies in the industry. We are still in contact with these achievers who help us in many crucial and important recruiting assignments. They are still a part of the Vested family and spare their time for training and guiding our new recruiting professionals. Our clientele range from big business houses to small teams and startups.
They vouch for our outstanding services that have given them their best and most experienced workforce. In nutshell, we have grown with our clients and have created the very best HR tech recruiting solution to hire top talent in the finance and accounting field.
According to a recent survey of our clients, we found that body language in an interview is of utmost importance.
It’s equally important for the HR interviewer to watch his or her body language and to assess the body language of the candidate. Understanding body language is an effective recruiting technique to conduct successful interviews.
How Important is Body Language as a Communication Tool?
There are some fascinating studies around body language. In a study of athletes in the Paralympics, researchers analyzed body language of people from around the world, and from all different cultures. They found that athletes used similar gestures to convey a thought or meaning. For example, the expanded posture and outstretched arms were associated with pride.
In another study, researchers observed the body language of the blind. These individuals have never observed the body gestures of other people. However, they also exhibited similar body gestures like everyone else. They would open up to show pride, or they would clam up whenever they felt fear or shame.
Finally, we see body language as an inherent part of nature. Male peacocks spread their feathers to show off they physical traits to female peacocks. Dogs wag their tails as a sign of excitement.
Body language is a universal tool used by all species to convey a thought or meaning. Hence, it’s very important to be mindful of body language whenever, we’re meeting someone, especially when we’re trying to assess a candidate in a 30 minute interview.
Create a Friendly Atmosphere
People make snap decisions about us in the first few moments:
Are we trustworthy?
Do we convey confidence?
Are we friendly?
If you as the interviewer clam up in an interview, there’s a good chance that the candidate will clam up as well. This doesn’t help anybody. It’s important to talk in a controlled and friendly tone, and to give non-verbal cues that this interview is a friendly meeting.
One quick tip we’ve discovered from an HR veteran was his use of the eyebrow flash.
It’s seems so simple, yet it’s been quite effective. During the introductory phase of the interview, an eyebrow flash and a smile can go a long way to set the tone early. It will help calm everyone’s nerves and loosen up the candidate. This is key if you wish to delve deeper into the candidate’s experience and attitude towards various work scenarios.
The second tip is using a slight head tilt. The head tilt is something that we naturally do when we’re trying to listen more closely. It’s something we do to show that we trust the other person. We’re exposing some vulnerable sections of our neck here when we’re doing this. So, when we do this people will feel that trust and feel that we trust them more in return.
You’ll even see animals employing the head tilt technique. Your cat or your dog may tilt their head to show that they trust you:
Finally, smile! A genuine smile works wonders. It’s simple. It’s timeless. It works.
During the introductory phase of the interview, try these 3 tricks to loosen the nerves of the candidate and set the tone early for the interview.
Pay Attention to the Candidate’s Body Language
There’s a saying: “Say one thing and do another.”
This happens a lot in an interview. The candidate could be talking in a monotone voice about his or her experience in a particular situation. It might seem calm and confident.
But what if during this time, he was fiddling with his thumbs nervously?
He could be talking confidently but his body language exhibits a different tone. In this scenario, he could just be spouting off an answer he or she practiced in the bathroom mirror and hoping you won’t notice his fear.
What exactly is he or she hiding?
As an HR interviewer, it’s your job to pick up on these cues and then use them to dig deeper. If you asked him or her about a particular situation and you saw this dichotomy of behavior, ask follow up questions.
Like all humans, candidates tend to fall back to our caveman days or evolutionary instincts. Back in our caveman days, if a tiger was trying to hunt us down, we would find a secure spot and freeze up. We would try to hide and hope the danger passes by. Or, the cavemen would distance themselves from the situation by running away or some other avoidance behavior. The cavemen could also pick up a stick, make a spear and fight the predator. Finally, another form of defense is blocking. Cavemen would move a rock or build a wall to protect themselves from anyone hunting them.
These behaviors can still be found today. As an interviewer, watch for these non-verbal cues:
Freezing up or clamming up
Avoidance or distancing
Veteran HR recruiters constantly look for these three things as it’s a clear sign that “something is there.” Here’s a quick list to look for in candidates:
Leaning back in their chair (distancing)
Folding of arms (blocking)
Scowl on face (aggression)
Fiddling with fingers or pen (clamming up/stuttering/freezing)
Once HR recruiters see any of these behaviors, then it’s a big sign to delve deeper into a particular topic. If the candidate exhibits confidence and answers with a smile and even a nice story, it’s time to move into a different topic.
Understanding Body Language Results in Efficient Interviews
HR recruiters could be interviewing eight or ten candidates in-person a day for a particular job leaving only about 30 minutes to assess the candidate.
The most skilled recruiters can use both verbal and non-verbal cues to dictate the flow of the conversion.
When you use these vanilla questions, expect vanilla answers:
Tell me about yourself
Walk me through your resume.
Can you provide an example of a difficult situation that didn’t work out?
These questions can be found in every interviewing guide on the Internet. Every candidate rehearses this in front of a mirror and have very canned answers. Don’t expect to learn anything new.
The trick is to use these questions as an opening. Then it’s up to the interviewer to pick up on non-verbal cues so then he or she can follow up with more questions.
Understanding Body Language is a Key Recruiting Technique
If the candidate exhibits confidence in technical questions but exhibits distancing behavior when it comes to workplace scenarios, then dig deeper into that. If a candidate folds his or her arms during technical questions, then focus more on the technical side of the job.
You only have 30 minutes to assess a candidate. Pay attention to their body language and you’ll discover a lot about the candidate.
Conducting efficient interviews is an important recruiting technique for any professional HR recruiter.
FP&A jobs, finance manager jobs and careers in the business sector offer big paychecks, but most of these high profile financial positions carry a big responsibility. Finance professionals help steer the company with the right plans and forecasts. They serve as the captains of the corporate ship that drive the American economy. Because of their importance, employers will pay top dollar for the best and brightest minds in finance.
If you’re in the hunt for entry level finance jobs or you’re interested in making a career switch to finance, you need to know what you’re getting yourself into. Although a career in accounting and a career in finance can be similar, the functions and expectations are still different.
This article covers an overview of the qualifications, requirements and the various roles you can look for in finance. Once you are equipped with necessary knowledge about the various types of careers in finance, you can then confidently submit your resume and credentials to:
To excel in the finance career path, it helps to have the many professional certifications and to pass the finance-centric exams. You can secure an entry-level job in the finance sector with an undergraduate for the post of an advisor or consultant.
But the basic qualification for advancement is a graduate degree or a Master in Business Administration (MBA).
It helps to pursue a bachelor’s degree or an MBA concentration in finance that will let you learn financial theory, and participate in projects or case studies.
The main components of any finance related course includes the basics:
Marketing ROI Analysis
Budgeting & Forecasting Variance Analysis
The most in-demand professionals have Master’s degree in finance or an MBA. The course contents can consist of:
International Financial Markets
Advanced Financial Management
Applied Portfolio Theory
Small Business Finance
Macroeconomics & the Global Economy
Financial Buyouts & Acquisitions
Private Equity & Venture Capital
Typically, a master’s course builds upon your undergraduate studies. Hence, schools often label them as “advanced.” For further info on finance courses at a graduate level, take a look at Wharton‘s course catalog.
Furthermore, many financial organizations prefer candidates with professional certifications in finance. To add value to your resume you can pursue a CFA (Chartered Financial Analyst), CPA (Certified Public Accountant), CFP (Certified Financial Planner). The certification will enhance your financial skills needed at various levels of employment.
Many financial services like selling stocks or bonds require you to obtain the license from authorized agencies like Financial Industry Regulatory Authority. The most common of the financial licenses are series 7 and series 63. You can go for these licenses while doing the job since these are not pre-requisites to get a job but rather these licenses are legally required to provide certain client services.
According to Bureau of Labor Statistics, jobs in the financial sector is bound to increase by 8% by 2024. In the last year, the mean salary of the financial specialist was $66,530 whereas the median annual wage of other occupations was only $37,040.
The major hubs for financial jobs in the world are the cities which are regarded as financial cities. Some of the global financial hubs are New York, Dubai, Shanghai, Mumbai, London and much more. There has been a trend of better job opportunities in developing countries and this trend will not move down in the future too. You can find jobs in the financial sector in a branch office or corporate offices in any city of the world.
Best Job Sources
If you are still in your college pursuing your studies, campus placement is the best option to enter into finance sector since many companies prefer to pick their candidates from the college whom they can train to fit their organizational structure. If you have passed out of school or college, you can post your resume on one of the best job search sites like Indeed, Glassdoor, Monster, and much more. You can also find job openings on financial institution sites like CFA, Bloomberg or EFinancial.
Other trending job-finding resources are the social media platforms. LinkedIn is the best platform for professionals to find the jobs of their interest and stature. You have to create your profile just like a resume and post your qualification and experience. Once you finish that, you can expand your network by sending requests to other LinkedIn users in financial fields. Many companies post their job openings on their LinkedIn business pages, such as the Vested Linkedin page. So creating a LinkedIn profile is one of the best steps to take for a good job offer.
Finally, Recruiting 2.0 has arrived! In the “old” days, you would go online and submit your resumes to the job boards. Then you wait. But in today’s world, recruiting platforms, like Vested, allow you to post your resume and credentials in a private database. Using a proprietary algorithm, Vested’s platform will then match you to accounting and finance jobs from a slew of companies in the United States. Vested does all the work for you!
All you have to do is polish up on your interviewing skills by reading up on our career and interview guides.
Finance Firms that Offer Job Opportunities
The types of careers in finance are not limited if you meet the qualifications and skills required. The job aspirants looking for careers in finance can find jobs in various types of financial institutions:
Commercial banks provide one of the largest opportunities for banking aspirants. These banks provide banking services like loans to individuals, small and large scale corporates and enterprises. If you are interested in a career as a teller, credit card banking, leasing or international finance, then the commercial banking sector can offer you exciting roles. You can work as credit Analyst, loan officer, branch manager, trust officer or as a mortgage banker.
This is a specialized division of many commercial banks. The Investment banks deal with corporates and government bodies and help them in the sale of securities, raising money, mergers and acquisitions and all the assistance for any kind of large financial transaction.
Some of the leading names of investment banks are JP Morgan, Deutsche Bank, Goldman Sachs, Bank of America and Morgan Stanley.
These are the typical finance roles in investment banking:
Some money management firms operate with little limitations and higher risks. Hedge funds are open to only accredited investors who are ready to invest huge amounts for a minimum lockup-period. Clients can withdraw the funds after fixed period at certain intervals.
To amplify the ROI, hedge funds are invested in stocks, real estate, derivatives, mutual funds or land on the long term. As a Hedge funds manager, you can earn a minimum of 2% on assets value and twenty percent of the profit each year. Other financial roles in hedge funds can be as a security analyst or a trader.
Private Equity Firms
Unlike Hedge funds which deal in public securities, the private equity firms invest the funds of investors in private companies. In the case of a buyout of a public company, it de-lists the public equity and make it private.
The private equity firms then improve the operations and profitability of the newly private company. After a few years, the private equity firm then does an IPO of the private company to sell their shares to the public at a higher price.
Private equity also includes venture capital. In venture capital, firms invest money in early stage companies who have the potential to make it big. Venture Capital firms, like Accel, Greylock Partners and Meritech, invested in a then obscure company called Facebook back 2006. They cashed out with a huge return when Facebook went public in 2012.
Jobs at private equity firms are highly competitive. Often, former investment bankers with advanced degrees in finance and business can secure a job at these firms. Without these pre-requisite qualifications, one would have a difficult time breaking into the private equity industry.
S&P 500 Companies
All the S&P 500 companies, whether they are in the telecom business, consumer electronics or any other business type, require an army of FP&A Analysts to join their FP&A teams at corporate levels.
Because of their size and the breadth and nature of their business, S&P 500 firms need finance analysts at all levels in every part of the world. These companies need FP&A analysts to prepare annual budgets, periodic budget forecasts, financial modelling and internal reporting of vital business metrics.
Finance job titles at these firms can include:
Directors of Finance
Chief Financial Officer
Lists of Careers in Finance
If you feel excited about sale and purchase of shares, commodities, bonds or currencies, and help the investors to earn money due to market surge, go for a career in financial trading. The trading jobs are at the same time challenging considering the regular government regulatory changes. You can apply for the trading job in financial institutions like hedge funds and commercial banks.
You can apply as an assistant trader after doing graduation but the best way to enter trading is to clear the series 7 and 63 exams. MBA’s are also preferred in trading line. Any certification or degree in mathematics or statistics is also seen as a plus in trading sector. As a fresh graduate you may land a junior post but with experience, you will get an allocation of higher capital as you gain the confidence of your seniors.
Trading jobs at hedge funds are the top choice in the financial sector. You can work under a portfolio manager to buy or sell the securities. If you have the discretion to deal with the securities, then you have a good chance of making a good money. If you think you are one of the best hedge funds traders, you can start your own hedge fund as well.
In trading finance careers, salary is on higher side but at the same time, the jobs are stressful. You need to on your toes and sense rightly the future market movements. Before you apply for a trading job you must be aware that you will manage the huge sum of money on daily basis and should be ready to face the wrath of employers in case of failure.
For a successful career path in trading, you should have mathematics background since you need to do calculations based upon the market conditions. You have to make quick decisions since the trading market is a volatile industry. It is not just a 9 to 5 job since you will need to follow the market trends even during off hours.
If you see yourself serving a big company, institution or government then option for Investment banking and enrolling in a suitable graduation and post-graduation course is the best decision. Well, to begin with, Investment banking is all about helping your hiring company in managing their capital with the suitable strategies and plans. Depending on the size of your company you may be serving for the whole company as an expert or specialize in one area to provide expert advice.
Investment banking professionals are offered jobs in multinational commercial or investment banks. The job scenario is quite bright if you have studied this professional degree as you have the option to apply in big global banks as well as national, regional or local banks. Other avenues are asset management corporate, equity firms or business enterprise dealing with capital management. Some big organizations with the in-house department for evaluation of strategic opportunities like corporate mergers and expansion.
Being an Investment Banker you will be responsible for providing strategic opinion and guidance to your employer company for a merger or taking over another company. The strong financial modeling acumen will come in handy along with the extreme confidence of communication with senior level management professionals and business owners.
The second primary role you will play in your company will be to guide and strategize to raise the capital for your company or your client. For this, you need to hone skills like underwrite debt and equity by analyzing the industry you are working for. This responsibility will also be an important aspect if you are providing consultation to a government organization.
Another area of expertise for an investment banker is in private equity which more or less is a specialization of medium to small firms. These people identify and strategize to invest in large and reputed firms with an aim of huge profits. This is the most stressful but most well-paying job in the field of investment banking. As you grow in this profession you will be wealthier than ever. If your profession is your life, then you may end up in owning a private equity firm of your own.
Another area is Venture capital wherein the responsibility on you lies to look for some small, new but promising companies. If you have an inkling to follow the latest and innovative technologies and know how to take calculated risks, then this is the job for you. It can be a very challenging profession but like private equity, if your homework is perfect no one can stop you from getting listed in the wealthiest of people.
Here you can be master of your own job since this is the job where you and only you can be communicating the financial analysis as per your perspective. The analysis can be on national financial prospects, business opportunity for companies and other similar areas where your expertise and experience is the driving factor.
A financial analyst usually is an individual who may work as a consultant, writer, academician, educator or reviewer who has acumen to study, analyze and comment on the economical or financial aspects of a company, institute, government or country. A financial analyst enjoys studying financial data, understanding the trends and presenting his views while observing the financial markets closely.
If you dream to be a financial analyst then you have to play the roles of an economist, a strategist or a predictor. As an economist, your employer, readers or students may look forward to your shrewdness in analyzing the financial market data and the underlying trends in predicting the future financial conditions. You can land up in a lucrative job in government’s planning department, commercial banks, investment banks, asset managing companies and academic organization.
An economist employed at banks or corporate earn very well whereas those in educational institutes or government sector may not get good compensation for their efforts. Those in academia definitely get huge satisfaction with the respect and reputation they earn with their knowledge and experience. Freedom of working as freelancers and consultants gives you much better prospects.
The strategists study the economy and financial markets to offer strategic consultation and guidance to the companies and institutes. Banks and finance management companies are the most probable employers for strategists. Chief Investment Strategist is one of the highest paying titles for successful strategists becoming the public persona of a corporate. The strategists do get better pay-packs than the economist.
The predictors are the best pals for government organizations and large corporations. They are meant to predict the future financial status with the help of mathematical models that means that the focus is in research and development rather than purely financial analysis of the stock market. Finance management companies, equity firms or banks look for predictors with mathematical or statistical experience in the field of economics and finance. You have to be a person who loves to work with number crunching with the help of models using computing software.
Everyone in today’s world wishes to earn more by investing least. It is all about what you have included in your investment portfolio. As a portfolio managing professional you will look into the need of your clients and guide them to invest into different shares and schemes. All this is possible if you have a keen knowledge of stock market and understanding of the trends. Along with that, your clients will entrust you with the responsibility of achieving their desired investment targets in the specified duration.
The trick of the trade is to know your client well and convince him about the certainty with which you have researched. The best part or you can also say that the worst part is that for you as a consultant, each client is different. One portfolio will not suit multiple clients. You have to focus on each one’s needs and limitations.
To get a job as portfolio manager you will be looking ahead for finance management companies and hedge fund institutions. Other options could be such as sovereign wealth planners, pension funds consultant firms or insurance business. For this lucrative job, you must own a four-year college degree and then an experience of working as an investment analyst. With sufficient years of employment as a portfolio manager, you can have a firm of your own to get a well-paying clientele.
Responsibilities of a portfolio manager include creation and management of client portfolios. Depending upon the firm you will be employed with, you have to either manage separate accounts for client’s account type and investments or pooled accounts catering to the investment needs of multiple clients in aggregation. The second type of arrangement is easier to manage but it may not be suitable for some clients who need special treatment of their money.
One of the desirable characteristics of a portfolio manager in addition to expert market analysis is the ability to strike a good relationship with the clients through different kind of contact options. You can opt for growing as a portfolio manager specializing in a single asset category or multi-asset category. In both cases, you have to be a good researcher. This job like many other finance careers can be very stressful with a need to spend long hours with clients. Competition is extremely high in this career, but once you establish yourself, it can bring you satisfying returns.
Financial Planning & Analysis (FP&A) Jobs
Unlike other jobs discussed till now, the Financial Planning & Analysis is strictly in-house job. By hiring you as a Financial Planning and Analysis manager or professional, a company will be relying on you to help their senior management to get analytical information of company’s finance. With this information, operational, financial, and strategic decisions are taken with an eye on maximizing profits and minimizing the expenses.
Your responsibilities will primarily include budgeting, defining and monitoring cash flow and implementing other analytical tools to measure the financial performance of the company. A qualified financial professional must display traits like analytical, focused, inquiring, thorough understanding of internal financial status of the company and comprehensive knowledge of his job.
To reach up to the stage of an FP&A manager or director, usually a beginner has to spend a good amount of years on some organizational accounting position at medium ranks. It will help him in understanding the nuances of financial planning, budgeting and cash flow. A basic graduate degree in commerce or finance is required but a master’s degree can help in starting off at a higher grade. The experience and learning while on job is the most important aspect to grow as a FP&A professional. This job is considered to be good in terms of salary considering the manageable work pressure and a relatively secure job than others discussed earlier.
Final Words on Careers in Finance
No doubt, FP&A jobs, finance manager jobs and careers in finance offer lucrative perks but there is stiff competition to get a job. Besides the required qualifications, you should also have a passion to keep pace with volatile financial markets and financial regulations.
Whether you’re a seasoned finance professional or a recent graduate looking for entry level finance jobs, make sure to read career and interview guides to stay up-to-date with the financial industry, as well as getting your daily dose of the Financial Times and Economist.
Finally sign up HERE to be considered for the very best career opportunities in finance.
One of the most important decisions and investments you will make as a business owner is the hiring of new staff. Many factors contribute to who you add to your finance team and what value they bring to your company.
We cannot cover all of these varied points in a single blog post, but instead will examine the question of whether you should hire a temp or full time employee?
To help you answer this question, you need to look at the pros and cons of each type of employee.
As you look at the different options, you also need to be aware of the impact on your bottom line. What type of worker you hire makes a difference.
Here are some things to consider for each category of worker:
The advantage of hiring full-time employees
Full-time employees often feel pride in their position in your business. They get satisfaction out of being part of a team and working somewhere they feel comfortable and have job security.
The hourly wage for an employee is much less than that of the temp workers, assuming both workers work a standard 50-60 hour work week.
You realize that you generally have workers that you trust and can always depend on when you need them. You can assign errands for all time which gives you an opportunity to carry out the jobs that are most important to you.
You do not have to continually train new staff on how you like things done continually.
Disadvantages to hiring full-time employees
Full-time employees will always expect benefits like holiday pay and maternity leave.
They must always be paid a salary, regardless of whether your business is having a low period.
You are in charge of your workers’ training and professional licensing requirements.
Temp jobs often arise if businesses need to cover for the long-term absence of employees, due to issues such as sickness or maternity leave. Short-term projects or busy periods, such as the end of the financial year, may create temp job opportunities as well.
Using a temp agency allows a company to respond quickly to peaks in demand, without having to go through a lengthy and time-consuming recruitment process.
Pros of hiring temp worker
Lower labor costs. Hiring a full-time employee involves placing advertisements, carrying out background checks, training, and overtime costs. Hiring a temp worker eliminates the majority of these costs.
Hiring even a single employee involves a lot of time and energy. But while hiring a temporary employee, the duty is usually shifted to a team of career professionals and recruiters.
Full-time employees have to be provided benefits and perks. This entails an extra cost to the employer. Temporary workers, in most cases, are supplied by workforce agencies hence reduce benefits claims.
Avoid unemployment claims. This can be avoided by recruiting temporary workers, whose claims are limited only for the duration of employment.
If you hire a temp worker who is is not a good match, you don’t hire the worker again. You are not making a long-term commitment.
You can hire a worker for a particular task at hand by contracting someone with specialized knowledge.
Temporary workers are usually used on a “try before you buy” basis, which may offer the following benefits:
You get high flexibility when you are unsure about filling your position with a full-time employee – a reality that is particularly useful in uncertain economic situations.
You get the opportunity to assess a person from a specialized viewpoint for a prolong period. You likewise get the chance to evaluate social fit and character attributes, and how well the prospective employee’s values fit into your organization.
Disadvantages of hiring temp workers
You may lack the same amount of control as you would with the full-time employee. They will regularly run their business their way.
They usually do not have the same sense of company loyalty as a full-time employee and most of the time do not feel as they are a part of the business staff.
Wages for temporary workers are usually 15-20% more than that of regular employees. This is because the staffing agency includes its fees into the worker’s salary.
Permanent employees usually see temporary workers as nothing more than temps and are threatened by their presence. Temp workers are unlikely to attract much respect from the rest of the team.
So which option is best for you?In general, if you need a stop gap solution, you’re best option is to get a temporary person. It’s not a long term commitment and buys you time to look for a permanent solution.
However, a common mistake for most startups is making a temporary person a “full-time” solution, especially in the case of building their finance and accounting teams. Startups focus mainly on building out their product and engineering teams and neglect the importance of a strong core of finance and accounting professionals.
They then become shocked when they find it difficult to create financial dashboards and presentations that will impress the VC crowd.
If you are serious business and want to raise money in the future, the best option is to find a finance professional or a full-time accountant. Ideally, you would have both. They grow your business and understand how to create the right dashboards and presentations that will impress. Most hired guns will come in, do what’s needed and get out. That’s not an ideal way to lay the groundwork for your financial and accounting processes.
If you’re business has gotten some traction and you’re ready to seek VC money in less than a year, you should definitely be looking for a full-time finance and accounting professional.
Sign up at Vested today to get started in the process of securing your business’ financial future.
Work is an important part of our lives. It’s where we spend most of our time during the week to earn a decent salary to pay for a house, the car, and food to feed the family. In fact, it’s estimated a worker will spend 14% of their life at work. So it’s truly a big deal when we’re considering a career change at any point in our livers.
Because we spend so much time at work, it’s ideal we care about what we’re doing. If not, we’ll spend a lot of time in an unhappy situation, and that’s untenable in the long run. So if you notice your enthusiasm for your job is dropping and you spend most of your time at the office daydreaming of escape, it is time to think about a lateral move or switching into a totally different industry.
Ask yourself if this job is really right for you. Because the wrong job will make you feel depressed and negatively affect your career and personal life.
If you’ve reached this moment in your working career, it’s time to assess the situation and polish up your interviewing skills.
We compiled a list of signs that it is time to quit your job and consider a new path:
Poor workplace environment
In the most extreme scenario, you could be in a situation where you have a terrible boss or your co-workers wouldn’t hesitate to steal your ideas. Perhaps, you’re in a frat like environment where the people openly talk about “banging” their secretaries in their office. If any of these extreme conditions exist, hopefully you haven’t spent a lot of time at the company.
On the flip side, perhaps you work in a perfect cubicle environment in a perfectly hierarchical organization. Everyone knows their roles. Everyone buries their head in their cubicles. Everyone submits theirTPS reports every 10 AM on a Monday.
A perfect bureaucracy is the perfect breeding ground for someone’s “shadow.” According toJungian psychology, people develop personas to function in this world. We all wear different faces which suit the current social scenario. Hence, people act differently at work or at home or at a concert. We all adapt to the social setting. In a bureaucratic organization, a lot of people wear their corporate “masks” and bury who they really are.
When suppressed enough for a long time, the “shadow” or the opposite persona begins to develop and fester. If left buried for a long time, a shadow can be destructive. Hence, it’s important to eliminate cognitive dissonance. In other words, it’s best to find work that is consistent with who you really are.
Not using your skills
If you find yourself stuck in a job that does not allow you to utilize the advantages of your own skills, it is time to consider other options. When you find all of those years of training, experience, and skill building are untapped in your business, you find yourself feeling frustrated.
Your skill set is extremely important as it provides you with confidence and the ability to succeed in your career. So, if you do not use any of your skills or you are not capable of improving your business, this is the moment of truth to think about moving to another job that would maximize your ability to use your core skills.
The salary is too low
When you constantly worry about money, this is a sign you need to rethink your job situation. It is true that most of us often worry about money, but if that worry dominates your mind, it’s probably because you do not earn a high enough salary. It’s expensive raising a family in this day and age.
Also, it’s a matter of getting paid fairly. At a minimum, your salary should be close tothe national average by geographical location and job function. With the Internet, it’s easy enough to check the salaries of other people working in your profession. It’s also free to research. Go to LinkedIn or sign up atVested to see what companies are offering finance and accounting professionals.
So if you feel you’re being underpaid, it’s time to have a review with your manager to discuss fair compensation. If the answer is a “no” then it’s time to consider a career change.
Undervaluation of the human effort drops its determination. You’ll find yourself moping in your cubicle. Perhaps, you’ll even be vocal with your cubicle mates about poor pay. You’ll find it hard to be productive if you feel you’re being underpaid.
You expect that your skills and efforts to be rewarded with the right and suitable value. You may have to reassess yourself and your value if you see that you do not have the right means to fund your dreams.
You can’t climb the corporate ladder
If you are one of the people who do not mind being monotonous and routine, continue with your current job. But if the idea of moving without progress frightens you, the time may come when you must consider a change. We all want the fancy title.
We all want a new challenge. We all want a bigger role in the company and the compensation and prestige that comes along with it. We expect natural progression through the ranks after many long hours spent at the workplace. If you feel, there is a “glass ceiling” in place or you’re being passed over by the company vice president’s younger nephew, then it’s time to assess your place in that company and seek a career change.
Your manager at work is the devil
Your boss not only affects your work, but also affects your life completely. Working under the direction of someone who doesn’t cheer you on and reduces your importance will frustrate you. You are more valuable than allowing yourself to stay in a job that offends you.
If you find that your life is no longer unbearable and your dealings with others wane because your boss is so bad, you need to get yourself out of this place and look for other options.
If you can’t trust the leaders around you, it will result in a loss of your confidence in work. If you no longer trust your boss or company for any reason, it is best to resign and go another way.
If work starts to affect your personal life
If your work life begins to affect your emotional and social life, it could lead to a chronic state of stress, insomnia, and exhaustion. This is definitely not a tenable situation.
This could be due to a poor work environment. It could be too much stress from competing with your co-workers. Or perhaps you’re working only to get that promotion and forgot why you joined this company in the first place.
If you find yourself under constant work-related stress including at times when you are off the clock like weekends and evenings, then you might not be in the right situation and should consider a job change.
Loss of motivation in your work
Although boredom at work is typical, if you constantly feel this way at the office it is a warning signs that you are not enjoying what you do. Signs of this mindset include spending all your time on social media, online shopping, playing games, etc. instead of doing your assigned work tasks.
If your conversations with friends, family, and co-workers about work become non-stop complaint sessions, it’s time to polish up that resume.
Always feeling lost
You should not ignore the feeling that you no longer win at work. Your job should be a source of inspiration, delight, and challenge, not a constant losing battle where you accomplish nothing.
If your job does not give you opportunities to advance and develop your skills, or requires you to travel more than you are comfortable with, don’t spend another moment in thinking about staying or resigning.
If your company no longer values your opinions or contributions, or your role in the company is redundant and no longer necessary, you should seize the opportunity to look for another company that values you. If you are returning from your vacation just to countdown the days to your next trip, it may be time to change.
Your company is not doing well
All businesses want to be the next Google or General Electric, but there’s a reason why there’s only one Google and one General Electric. Business is cutthroat and not every company can succeed in the long run. If you find that your company or your widget division is not profitable, then that will limit your opportunities within the company. There will be fewer promotion opportunities and at worst, the company could start a round of layoffs.
This is why it’s good to check the financial health of your company every now and then. It’s also useful to call into investor calls, when the company announces its quarterly earnings and gets grilled by Wall Street analysts. This is a perfect time to assess the company’s health and your future in it.
If your company is not doing well, then it’s time to polish up that LinkedIn profile and resume in preparation of a new job search. There’s no point in dwelling in a company with no future, when there are dozens of companies (with brighter prospects) willing to offer more for your experience and expertise.
You’ve had a Jungian Break
We’ve already discussed what happens when you’ve worn a fake mask to work. You develop a fake persona to fit into a work culture that is not consistent with whom you are or who you want to be. This leads to a “subconscious revolution” and your suppressed side overwhelms your forced conscious mask. This is a Jungian Break.
The character of Lester Burnham in the film American Beauty experiences such a break. Burnham gets fed up with his suburban life and his cubicle world. He quits his job, and starts working at a fast food restaurant. He buys a 20 year old car that he’s always wanted as a teenager. He fantasizes about having a relationship with a teenager. It’s a classic mid-life crisis at the most extreme.
This Jungian break at work can also be seen in the movies Office Space and Fight Club. In Office Space, the main character gets fed up with his TPS reports and stops caring about work. It leads to a lot of comical scenes like the one with the printer.
In Fight Club, the main character gets fed up with corporate life and American consumerism. The psychological revolution manifests itself in the physical world literally. Without giving away the plot twist, the main character starts a fight club in response to living a fake life for so long.
These are extreme situations and most people won’t get to that point. However, there will be a time when you’ve “had it.” You might find yourself taking more vacations, or buying a Harley Davidson. You’re playing a guitar again in your forties when you’ve given it up as a teenager. These are signs that your shadow is starting to emerge from years of conscious suppression. If left untreated or ignored, the shadow will gain strength and could lead to harmful behavior – the most extreme scenarios can be seen in Fight Club or American Beauty.
If you’ve had a Jungian break, then it’s definitely time to assess your career. Perhaps, you’ve worked too long crunching Excel at a boring corporate job for the past ten years. You want to explore a place where it’s less “stuffy” and less “formal”. Then take a look at working at a startup.
Whatever it is you’re yearning, it’s important to identify the root of this “shadow.” Explore what’s causing it – what you’re yearning. Then take action.
Summary – Career Change is normal
Gone are the days when workers are expected to work forty years at one particular place. Back in the day, a worker could work at IBM and expect a forty year career and a pension at the end of it.
Even before your final year of college, you need to start preparing yourself for life after graduation. This includes working on your CV, researching your options, and gaining potential network connections. Although getting your first job may seem like a scary process, with preparation it will become easier.
By being efficient in your job search and following a few basic steps, it will increase your chances of landing a job, even if it isn’t a job you stay in. The important thing to remember is that not many people get hired for their dream job immediately—and it is okay not to know which career path you want to take—your experiences and life skills will help you to map out your future. You never know, your dream job may not be what you thought it was either.
Today, there are numerous sites such asLinkedIn andVested which can be beneficial to those looking for a job. These sites are dedicated to professionals and can help connect you to endless networking opportunities. They can also be used as a digital CV or portfolio tool, which is accessed by potential employers.
However, be mindful that social media can also have its downfalls. Do not assume that your online presence is private because it is not. So when posting those drunken party pictures to Facebook, keep in mind who may be able to access them. Your new boss may not appreciate it.
Don’t be afraid to ask for references. Be proactive and ask for any recommendations that you can put on your CV. Your college tutors or sporting coaches can provide potential employers with valuable insights into the way you work and think.
Although it may be tempting to apply for lots of jobs in different fields, this can have a negative effect and make you look uncommitted and unfocused. This is especially true if you are unsure about where you want to be in life. Be mindful of conveying such uncertainty in your application or interview.
It is important to remember not to compare yourself to others. Everyone has different strengths, weakness, and goals in life. Don’t worry what your friends are doing; what job they are doing or path they are following may not be right for you.
Have courage and confidence to do what you feel is right, don’t settle for an average job in an industry you don’t want to be in, and don’t allow others to make you feel guilty about your choices. You have your whole life ahead of you and lots of wonderful experiences to have and interesting people to meet. Some that will shape your future; you never know which of these opportunities may be the right fit for you.
Following your heart and being happy in what you are doing is important, no-one wants to look back in later life and regret the choices they made. If you want to take off and travel the world, or flipping burgers makes you happy, it is your life to live the way you want to.
You are in your thirties and asking yourself: How to change careers at 30?
Professionally you have come a long way since you began your career. Gone are the days that you are the newbie with a supervisor looking over your shoulder and double checking your work. You now find yourself in a position of responsibility, perhaps with an impressive title and people reporting to you, or managing key accounts and clients. After years of study, training, sleepless nights, successes and failures, you have made it, or are at least on the path to making it.
But suddenly after all the hard work you put in to reach this point, you find that you no longer have the same hunger and passion for your career. Where has the love for the work, the ambition, your dreams, and plans gone? Is this the mythical midlife crisis? Just yesterday you thought that you were on the right path, but now the idea of your job leaves you empty on the inside.
Time has passed, and you might have discovered new talents, new interests, new hobbies, making you understand that you are not the person you wish to be. Everyone remembers that as kids they wanted to be veterinarians, astronauts, or the president. But as we grew up and experienced life, these dreams changed. Despite being an adult in your 30s, you are hopefully still growing, and just as you realized a career in space exploration was not right for you, so too might you realize you at age 36 your current career trajectory is not the right one.
What should you do if you’re pondering a career change in your 30s?
First, answer this question: “is your life about your career or simply living the way you want?” Although you should follow the call of your heart, the cold reasoning of your mind is necessary for such responsible decision-making. If you know for sure that you need and want to start a new career, think about it very carefully. You need to be cautious, but overthinking is a not a good idea.
Suppose you are in a room, and you need to choose a door to move forward and maybe escape. Will thinking show you the right door? Of course not! You will never be able to account for every possible factor and every possible scenario. It is simply pointless to just stand there and think about the right choice. But you can act right there and then and choose a direction. You can return if you think your choice was wrong. The important thing is that you do not stay in one spot endlessly, and take steps towards your goal.
But do you know your desired career?
It is a very important thing to realize. You shouldn’t make hasty decisions, remember, just yesterday you thought everything was all good with your career. It doesn’t mean that you should stop acting altogether. The point is, you need to be flexible enough to realize your needs and capabilities at any point in time to be able to counter the tides you are swimming against.
You need to try new career opportunities and look for ones that suits your needs right here and now. If you are afraid for your financial stability, you should look for ways of doing trial and error without quitting your job. Alternatively, you can switch to a half-time job or look for other similar ways to create some free time for your search.
Be aware that you might not find your dream job on your first try. Try to utilize your passion for shaping your life to your advantage, let it push you forward. Learn about the profession that interests you, try to connect with people working in your dream job through friends, relatives, and networking. You need to gather as much data as possible to make the decision right for you.
While you should never abandon your dreams, be careful of setting unrealistic expectations and career goals. Such dreams are bound to fail, and the disappointment of such a failure might discourage you from making any changes. Be passionate, but cold-minded. There is no need to rush. Motivational quotes are a good thing, but overconfidence can be a serious weakness.
After gathering information, meeting people, conducting research, and studying, you need to act decisively. If you are sure about your decision, start slowly, but take active steps towards your dream job.
A very good way of confidently changing careers is working with people who, like you, are also looking for a new job. You will work together, share ideas, inspire and push each other, and move together towards your dream jobs. It doesn’t matter if their interests are different. Your combined spirit and desire to change is a strong stimulus to your activity.
Don’t think that your temporary uncertainty and desire to change your job is a shameful thing. Our whole life is about adaptation, and you don’t need to be afraid if you feel something is changing in you or around you. Meet the need to change with open arms. Be passionate about the future even if you don’t know how it will turn out to be tomorrow. Don’t let sudden variations put out the fire burning in your heart!
It’s never too late for a career change, especially as a thirty year old working professional. So instead of sitting around and asking yourself “how to change careers at 30,” take action and sign up with Vested.
The big four-oh is not only a milestone personally but professionally. Around this age, people are usually well-established in their chosen field, with a title and salary commensurate with their experience.
However, many people reach this point in their career and aren’t where they want to be. Either they have reached a ceiling in their career they cannot crack, or the path they thought they wanted to be on as a 22 year old straight out of undergrad, is not the same one they want to be on as a forty something with a couple of kids at home.
Maybe the issue isn’t even about work, but general angst about getting older or regrets over past decisions. While we here at Vested cannot offer you much help dealing with your midlife crisis, we can offer you some practical advice if you are thinking of making a change mid-career.
Develop the right mindset
First and foremost, you need to stop thinking about the desire to change as a bad thing. Life is not about staying still, and it is perfectly acceptable that you are changing and moving forward. You should never expect that things will remain unchanged over time.
Could you have known in your youth what would happen the next day? Not with certainty. How is it possible for you to foresee events decades in the future? So, don’t regret your past decisions. They might have been right back then, but now you have to take new steps in accordance with your current situation.
Experience is an asset
Changing careers, you may be anxious about competing with young employees that have skills you don’t and a willingness to work for less money and fewer benefits. But there is an attribute that young people are unlikely to have, but you do have in abundance: experience.
Your age might close some doors for you, but your experience is a powerful differentiator in the interview/hiring process. There are many jobs that a relatively inexperienced young people would struggle with while a seasoned professional could handle the responsibilities with relative ease.
For example, look at the job of teaching. In your forties, you have years of classroom experience and more life experience in general. You might be better suited for lecturing in a university or school than your younger colleagues. Your age is a trump card in such cases because you have simply had more time to experience the world than the newbies.
Consider other options
Perhaps after years of working 9 to 5, you have grown tired of the same routine and want a different, more flexible arrangement? One way to achieve this is to become a consultant in a field related to your specialization.
Consultancy is very much in demand as it is much easier to “buy” other people’s experience than invest money and create skills and knowledge among new workers.
Don’t think that your twenties are the only time to choose a career. It is never too late to develop new skills. You can gain go back to school or enroll in a training program.
Many online programs offer the flexibility of completing training at your own pace and schedule for little or no cost. Some employers are also willing to hire employees if they have a demonstrable skill (for instance, coding), without an actual degree or certification.
Rely on your network
Another advantage to mid-career switches is all the contacts you have made over the years. Ask them for advice, reference letters, introductions, and whatever other help they are willing to give. Go on LinkedIn.
Research, try to understand what you want to do. Maybe your contacts will give you a hand in your searches for a dream job. You might even discover people who want to switch jobs like you. They might be uncomfortable about their ideas at first, but your cooperation may boost the confidence of everyone.
Look for success stories of people who became successful after age 40. Stan Lee, the former executive vice president and publisher of Marvel Comics, created his first comic when he was 39. Actor Samuel L. Jackson’s career had a true rise at age 43 after taking an award-winning role in the film Jungle Fever. Henry Ford created the Model T car when he was 45. Barack Obama, the former president of the United States, became a millionaire after republishing his book Dreams from My Father at age 43. These and numerous other stories are about people discovering themselves not in their 20s or 30s. They just felt that their life needed to change.
Discover your desires, concentrate on them, meet new people and be connected with your friends, be decisive. Do not think about a possible failure. Will it be better if you do nothing out of anxiety? Certainly, you should be careful and realistic, but that doesn’t mean that you need to spend months thinking about changes without acting. In your forties, you should know that achieving anything is not easy. Just let your dreams drive you forward and reach for your new goals!