Quotulatiousness

February 3, 2012

New economic ideas on employment and stimulus

Filed under: Economics, Government — Tags: , , , — Nicholas @ 10:03

Arnold Kling, writing in the Wall Street Journal, explains why (if his new theories are validated) governments have been doing exactly the wrong things to help the economy recover:

… I believe that the process of creating employment is explained not by the theories of Keynes, but rather by the theories of Adam Smith and David Ricardo. Smith famously described the advantages of specialization and division of labor. Ricardo pointed out the gains from trade that come from consuming goods that others produce more efficiently. From the perspective of Smith and Ricardo, real jobs emerge in the context of patterns of sustainable specialization and trade.

Unfortunately, the patterns of specialization and trade that had emerged five years ago were not sustainable. Many jobs in home construction, durable-goods manufacturing and distribution, and mortgage finance were dependent on housing markets with ever-rising prices. In the U.S. and the U.K. in particular, the finance industry expanded well beyond its true economic value. Once the property bubbles burst, these jobs were exposed as not viable. Meanwhile, ongoing creative destruction brought about by the Internet and globalization have continued to allow substitution of capital and emerging-market labor for industrialized countries’ labor in many sectors. Together, these phenomena have caused widespread dislocation.

More government spending will not bring back the days when supposedly triple-A-rated mortgage securities could be fashioned out of dodgy loans to unqualified borrowers. Doing so would not halt the ongoing improvements in productivity in manufacturing and retail trade. It would not facilitate the adjustments that are needed in the mix of skills in the labor force. The necessary adjustments can only be made by the decentralized efforts of entrepreneurs.

[. . .]

The word “sustainable” in “patterns of sustainable specialization and trade” refers to profitability. Patterns that are profitable can be sustained. Patterns that are not profitable must eventually be shut down. That is the problem with patterns of trade created by government borrowing and spending: They are not sustainable, as has been illustrated in the U.S. by the failure of many of the “green energy” companies supported by President Obama’s stimulus package. Moreover, as European policy makers have discovered, there are limits to how much governments can borrow to fund their experimentations in specialization and trade.

January 26, 2012

The fate of London’s diesel locomotive plant

Filed under: Cancon, Economics, Media, Politics — Tags: , , , , , , — Nicholas @ 10:38

In the Toronto Star, Martin Regg Cohn (who claims he “is not an anti-globalization crusader”) does his level best to put forward a case for massive government intervention in a labour dispute between Caterpillar and the Canadian Auto Workers:

At the old locomotive plant now owned by U.S.-based multinational Caterpillar Inc., the Canadian Auto Workers union is not even on strike. The CAW has been locked out since New Year’s Day because it refused to sign its own death warrant by agreeing to slash wages in half for most workers from $34 an hour to $16.50.

When a powerful multinational negotiates in bad faith, it becomes a story that governments in Queen’s Park and Ottawa can no longer wash their hands of. To put it in language that resonates with Premier Dalton McGuinty: When a bully tries to humiliate people, you can’t just watch in silence.

When high-paying skilled local jobs can be shredded at the whim of a combative multinational giant, it dramatically undermines all the upbeat rhetoric we hear from McGuinty and Prime Minister Stephen Harper about Canada’s global appeal. It sends a signal that Ontario is not so much open for business as it is closed for unions.

We jump directly from Caterpillar’s demand for wage reductions to an assertion that the company is negotiating in bad faith (I guess, from the union’s point of view, anything other than a wage increase is proof). No indication whether the company’s demand is economically justifed — if sales of the plant’s railway locomotives are as bad as the wage offer implies, then the next step will be closing the plant — just straight over to bad-mouthing the company.

And, of course, it’s merely objective reporting to use pejorative descriptors when discussing the eeeeevil multinational firm. Not content merely to malign the company, he then calls on the Premier to support the union to the hilt:

So what can our anti-bullying premier do?

If I were McGuinty, I would ask myself a simple question: What would Bill Davis do?

The former Tory premier of Ontario wasn’t perfect, but he was always plugged in. He took labour seriously, listened closely to business and wooed foreign investors (remember Renault?). He knew how to leverage the power of the premier’s office to stand up for Ontario’s greater interests.

A phone call to Caterpillar’s corporate braintrust would show that Ontario’s premier is no pushover. If that didn’t work, a phone call to Harper — who is still trying to live down the tax breaks he gave the locomotive factory’s former owners a few years ago — might find a receptive ear.

And finally we get to a good point: the foolishness of governments in giving special tax breaks to certain industries or companies. If it’s in the company’s best interests to locate in your jurisdiction, they’ll probably do it. If you have to bribe them with tax breaks, low-interest or interest-free loans, or other special incentives, then once the incentive runs its course, the company has no further requirement to stay in your location.

Update: In the National Post, Kelly McParland has some suggestions for union leaders:

1. A lot of people (the membership figures suggest it’s the vast majority) think unions are concerned solely with their own members and couldn’t give a bird’s turd for anyone or anything else, including other working stiffs, members of other unions, the fortunes of the company they work for or the customers they deal with. When you display a total lack of interest in others, they generally adopt the same attitude towards you.

[. . .]

4. Union politics might consider moving out of the stone age. The world evolves over time, but unions persist in peddling the same trite bromides as if it’s still the dawn of the industrial revolution. The “us against them” mentality; the pretense that all employers exist to exploit workers and can never be trusted; the assumption that every contract must be succeeded by an even richer one no matter the health of the industry, the economy or the company; the fealty to leftwing political parties — all are symptoms of an exhausted, outdated perspective that has barely changed since “modern technology” meant the telephone.

If unions really want to save themselves, they might take a lesson from the market economy. If no one buys what you’re selling, it’s not because they buyers aren’t bright enough. It’s because people see no value in your product.

Update, 3 February: The plant is being closed. Here’s the official announcement:

Progress Rail Services has announced that it will close Electro-Motive Canada’s (EMC) locomotive production operations in London, Ontario.

Assembly of locomotives will be shifted from the London facility to the company’s other assembly plants in North and South America, which will ensure that delivery schedules are not impacted by the closing of the London facility.

All facilities within EMC, EMD and Progress Rail Services must achieve competitive costs, quality and operating flexibility to compete and win in the global marketplace, and expectations at the London plant were no different.

The collective agreement and cost structure of the London operation did not position EMC to be flexible and cost competitive in the global marketplace, placing the plant at a competitive disadvantage. While the company’s final offer addressed those competitive disadvantages, the gulf between the company and the union was too wide to resolve and as such, market conditions dictate that the company take this step.

January 14, 2012

How much is your time worth?

Filed under: Britain, Economics, Randomness — Tags: , , , , , — Nicholas @ 12:00

In an article about the recently approved high speed train link between London and Birmingham, Tim Harford points out a few oddities in the calculations that supposedly show how beneficial the new railway connection will be:

But it’s not just about forecasts — it’s about the value of time saved because of a faster journey, right?

That’s true. The high-speed link would save about 40 minutes on a journey from London to Birmingham. How much that is worth is an interesting question.

If you have a morning meeting it might mean an extra 40 minutes in bed.

It might indeed, which is priceless. HS2 Ltd told me that they use numbers from the Department for Transport. The DfT apparently values leisure time at about £6 an hour — this, intriguingly, implies that the UK government’s official position is that anyone under the age of 21 is wasting their time earning the young person’s minimum wage and would be wise to chillax in front of the Nintendo.

What about business travel?

Well, business travel is valued at £50 an hour. Unless the business travel in question is commuting, in which case it’s £7 an hour.

What?

Doesn’t make a bit of sense to me, either. Perhaps the idea is that commuting is eating into your leisure time, which is almost valueless apparently, whereas business travel is eating into your employer’s time, which is precious indeed. Complain to the DfT if you don’t like it.

January 10, 2012

What a difference a decade makes

Filed under: Economics, History, USA — Tags: , , , — Nicholas @ 10:53

Megan McArdle reports from her business school’s ten-year reunion on the fates of her fellow MBA students:

It was my 10-year reunion at the University of Chicago Booth School of Business. Obviously I wanted to see if people had gotten fatter, balder, and wrinklier. (Surprisingly, not really.) But I also wanted to know what had become of us, and our careers.

Ten years ago, we graduated into a country where the Twin Towers were still standing, Webvan was a going concern, and the unemployment rate was 4.5 percent. Many of us headed to New York or other cities to become what Tom Wolfe, in The Bonfire of the Vanities, called “the Masters of the Universe” — the financiers who can earn lottery-size sums on a single deal. Others went to Silicon Valley start-ups, or became the consultants who worked with them. I couldn’t find anyone at the reunion who admitted to trading dodgy residential mortgage-backed securities, but we participated in all the other madness of two decades of financial froth—and got smashed in two crashes.

We weren’t the people who inflated the bubbles; we were the ones hired, and then fired, by those people. We were the ones who happened to be standing next to the guy who was pushing the buttons when everything went to hell.

[. . .]

I have a theory about what happened to us, and our nation: when too much money is piled together in one place, it starts to decay, and as it does, it emits some sort of unidentified chemical that short-circuits the parts of your brain controlling common sense. When my class matriculated in 1999, ads for a firm called Discover Brokerage featured a tow-truck driver whose passenger notices in the cab a picture of the home — an island — that the driver has purchased with his fabulous online-trading profits. The passenger looks taken aback while the driver muses, “Technically, it’s a country.”

What’s even more amazing than the fact that this ad was ever made is that this sort of triple-distilled balderdash could intoxicate a large group of very smart people at one of the nation’s top finance schools.

Oh, don’t get me wrong: none of us was simpleminded enough to take those ads literally. Oh, ho-ho, no, not us! No, we made only the most erudite and sophisticated sorts of mistakes, like gang-rushing banking internships, and telling ourselves we were “consumption smoothing” as we used student loans to finance vacations. Believe it or not, many of us talked frequently about the echoes of 1929 — but we still didn’t necessarily act on that insight, as the markets cratered in the early 2000s.

For my summer 2000 internship at Merrill Lynch, I chose the technology-banking group despite having watched the March 2000 NASDAQ crash from the lobby of Merrill’s auditorium, where we were supposed to be undergoing orientation. Ignoring the helpless, angry flapping of the HR staff, a bunch of us spent the afternoon telling nervous jokes and watching the eerie flicker that billions of dollars give off when they evaporate on live TV.

January 4, 2012

A call to reform the welfare state … from the pages of the Guardian

Filed under: Britain, Economics, Government — Tags: , , , , — Nicholas @ 09:27

Brendan O’Neill links to Liam Byrne’s column in the Guardian, suggesting not only is Byrne right, but that he doesn’t go far enough:

The Left won’t thank him for it, but in the Guardian Liam Byrne has tried to kickstart a potentially interesting debate about the welfare state. For many well-off Liberal commentators — who, notably, have no interaction with the welfare state, except in the sense that buddies of theirs probably manage huge chunks of it for a fat wage packet — the welfare state is a sacred thing and criticism of it is the equivalent of blasphemy. Yet Byrne surely has a point when he says the welfare state is in need of “radical reform” and we should seriously explore how to get “communities working again”. Indeed, I would go further and say that the expansion of the welfare state into more and more areas of less well-off people’s lives is one of the worst developments of recent years, seriously zapping resourcefulness and social solidarity from working-class communities.

Byrne’s mistake is that he seems motivated by a narrow desire to save the state money. The financial cost of social welfare is “simply too high”, he says, and we should “bring down [the] benefits bill to help pay down the national debt”. That is a Scrooge’s approach to the problem of the welfare state. The really terrible cost of ever-expanding welfarism is measured not in cash, but in the impact welfarism has on working communities, on those who have been made increasingly reliant upon the charity, largesse and therapeutic meddling of the massive and monolithic welfare machine. Relentless financial and therapeutic intervention by the state into poor people’s lives has, not surprisingly, had a pretty devastating impact both on social interaction and individual aspiration.

When people come to be more reliant on the state than they are on each other, community bonds fray and social solidarity falls into disrepair. When the struggling mum looks to the state for help, rather than turning to family, friends, neighbours, the end result is that she becomes more isolated from her community. When a 17-year-old school student short of cash turns to the state for a weekly handout, he never really develops skills of self-sufficiency or dependency on friends and neighbours.

December 27, 2011

Retirement age will have to rise: The Economist

Filed under: Economics, Government, Health — Tags: , , , — Nicholas @ 10:38

In a development that should surprise nobody at all, governments around the world are slowly, reluctantly, grudgingly starting to make changes to their state pension systems:

Put aside the cruise brochures and let the garden retain that natural look for a few more years. Demography and declining investment returns are conspiring to keep you at your desk far longer than you ever expected.

This painful truth is no longer news in the rich world, and many governments have started to deal with the ageing problem. They have announced increases in the official retirement age that attempt to hold down the costs of state pensions while encouraging workers to stay in their jobs or get on their bikes and look for new ones.

Unfortunately, the boldest plans look inadequate. Older people are going to have to stay economically active longer than governments currently envisage; and that is going to require not just governments, but also employers and workers, to behave differently.

December 18, 2011

The Feminist struggle against real women’s actual wants

Filed under: History, Liberty, Media, Politics — Tags: , , , — Nicholas @ 11:57

Jenny Turner in the London Review of Books has some insight into organized Feminism’s ongoing struggles:

It’s true that women, as a gender, have been systemically disadvantaged through history, but they aren’t the only ones: economic exploitation is also systemic and coercive, and so is race. And feminists need to engage with all of this, with class and race, land enclosure and industrialisation, colonialism and the slave trade, if only out of solidarity with the less privileged sisters. And yet, the strange thing is how often they haven’t: Elizabeth Cady Stanton opposed votes for freedmen; Betty Friedan made the epoch-defining suggestion that middle-class American women should dump the housework on ‘full-time help’. There are so many examples of this sort that it would be funny if it weren’t such a waste.

Not that the white middle-class brigade like being on the same side as one another. There’s always a tension between all of us being sisterly, all equal under the sight of the patriarchal male oppressor, and the fact that we aren’t really sisters, or equal, or even friends. We despise one another for being posh and privileged, we loathe one another for being stupid oiks. We hate the tall poppies for being show-offs, we can’t bear the crabs in the bucket that pinch us back. All this produces the ineffable whiff so often sensed in feminist emanations, those anxious, jargon-filled, overpolite topnotes with their undertow of envy and rancour, that perpetual sharp-elbowed jostle for the moral high ground.

[. . .]

And so Women’s Liberation started trying to build a man-free, women-only tradition of its own. Thus consciousness-raising, or what was sometimes called the ‘rap group’, groups of women sitting around, analysing the frustrations of their lives according to their new feminist principles, gradually systematising their discoveries. And thus that brilliant slogan, from the New York Radical Women in 1969, that the personal is political, an insight so caustic it burned through generations of mystical nonsense — a woman’s place is in the home, she was obviously asking for it dressed like that. But it also corroded lots of useful boundaries and distinctions, between public life and personal burble, real questions and pop-quiz trivia, political demands and problems and individual whims. ‘Psychic hardpan’ was Didion’s name for this. A movement that started out wanting complete transformation of all relations was floundering, up against the banality of what so many women actually seemed to want.

Across the world, according to UK Feminista, women perform 66 per cent of the work and earn 10 per cent of the income. In the UK two-thirds of low-paid workers are women, and women working full-time earn 16 per cent less than men. All of this is no doubt true, but such statistics hide as much as they show. One example. In a piece in Prospect in 2006 the British economist Alison Wolf showed that the 16 per cent pay-gap masks a much harsher divide, between the younger professional women — around 13 per cent of the workforce — who have ‘careers’ and earn just as much as men, and the other 87 per cent who just have ‘jobs’, organised often around the needs of their families, and earn an awful lot less. Feminism overwhelmingly was and is a movement of that 13 per cent — mostly white, mostly middle-class, speaking from, of, to themselves within a reflecting bubble.

November 27, 2011

China to address the surplus of unemployable university graduates

Filed under: Bureaucracy, China, Government — Tags: , , — Nicholas @ 11:47

No, not the old fashioned way of “re-education”, but by reviewing the university programs and eliminating the ones that produce the largest number of graduates who cannot find jobs:

Much like the U.S., China is aiming to address a problematic demographic that has recently emerged: a generation of jobless graduates. China’s solution to that problem, however, has some in the country scratching their heads.

China’s Ministry of Education announced this week plans to phase out majors producing unemployable graduates, according to state-run media Xinhua. The government will soon start evaluating college majors by their employment rates, downsizing or cutting those studies in which less than 60% of graduates fail for two consecutive years to find work.

The move is meant to solve a problem that has surfaced as the number of China’s university educated have jumped to 8,930 people per every 100,000 in 2010, up nearly 150% from 2000, according to China’s 2010 Census. The surge of college grads, while an accomplishment for the country, has contributed to an overflow of workers whose skillsets don’t match with the needs of the export-led, manufacturing-based economy.

November 21, 2011

Lessons learned

Filed under: Bureaucracy, Humour — Tags: , — Nicholas @ 09:12

Group projects are one of the first workplace-like things that kids are exposed to in school. The eager ones jump right in, enjoying the challenge of working with others. The sensible ones only do as much as they have to. By the time you enter the workplace, you should have come to this conclusion based on your school work:

November 17, 2011

Things not to say in a job interview

Filed under: Bureaucracy, Humour, Randomness — Tags: — Nicholas @ 08:36

Should your resumé somehow get through the gauntlet of the HR queue (and here are some tips to help you there), you may be able to get an interview. Interviews are tough, and intentionally so: companies don’t want to hire the wrong people. You can talk yourself into a job with a good interview performance, but you’ll want to avoid saying things like this:

Sometimes I hear from a candidate that his current boss is a shambling moron whose personality is an unstable mix of dishonesty and ignorance barely held together by malicious greed. His management style draws upon both forms of Marxism — Groucho and Karl. He can recite The Art of War from memory and he frequently quotes from it at meetings (in the original Chinese of course). You feel you have to leave now or you and he will settle your disputes with knives.

The IT at your department looks like it’s run by monkeys, the management are in league with Al Qaeda, HR is outsourced to Resource Solutions, compliance has been infiltrated by Accenture and Jack Bauer has told you that the back office wants you dead.

Today you found a live rat in your coffee.

November 16, 2011

The gender wage gap won’t go away

Filed under: Economics, Government, Politics — Tags: , , , — Nicholas @ 09:28

Kay Hymowitz explains that even with the best will in the world, the wage gap — often referred to as the 75-cents-on-the-dollar phenomenon — between men and women will persist:

Let’s begin by unpacking that 75-cent statistic, which actually varies from 75 to about 81, depending on the year and the study. The figure is based on the average earnings of full-time, year-round workers, usually defined as those who work 35 hours a week or more.

But consider the mischief contained in that “or more.” It makes the full-time category embrace everyone from a clerk who arrives at her desk at 9 a.m. and leaves promptly at 4 p.m. to a trial lawyer who eats dinner four nights a week — and lunch on weekends — at his desk.

I assume, in this case, that the clerk is a woman and the lawyer a man for the simple reason that — and here is an average that proofers rarely mention — full-time men work more hours than full-time women do. In 2007, according to the Bureau of Labor Statistics, 27 percent of male full-time workers had workweeks of 41 or more hours, compared with 15 percent of female full-time workers; just 4 percent of full-time men worked 35 to 39 hours a week, while 12 percent of women did. Since full-time men work more than full-time women do, it shouldn’t be surprising that the men, on average, earn more.

The other arena of mischief contained in the 75-cent statistic lies in the seemingly harmless term “occupation.” Everyone knows that a CEO makes more than a secretary and that a computer scientist makes more than a nurse. Most people wouldn’t be shocked to hear that secretaries and nurses are likely to be women, while CEOs and computer scientists are likely to be men. That explains much of the wage gap.

But proofers often make the claim that women earn less than men doing the exact same job. They can’t possibly know that. The Labor Department’s occupational categories can be so large that a woman could drive a truck through them. Among “physicians and surgeons,” for example, women make only 64.2 percent of what men make. Outrageous, right? Not if you consider that there are dozens of specialties in medicine: some, like cardiac surgery, require years of extra training, grueling hours, and life-and-death procedures; others, like pediatrics, are less demanding and consequently less highly rewarded. Only 16 percent of surgeons, but a full 50 percent of pediatricians, are women.

November 14, 2011

Retired Gurkha soldiers changing the face of security services in Britain

Filed under: Asia, Britain, Military — Tags: , , — Nicholas @ 12:14

An interesting article at the BBC website details how many retired Gurkha soldiers have found civilian careers in security a good follow-up to their military service:

It has been suggested that some Gurkhas are struggling to cope with the cost of living in the UK, with the British Gurkha Welfare Society saying about 25,000 of those who retired before 1997 still only receive a third of the pension of their British and Commonwealth former comrades.

But a recent study suggested that Gurkhas of working age are the most economically active and self-reliant social group in Britain.

The University of Kent research found the employment rates among Gurkha men and women are particularly high, at 95% for men under 60 and 93% for women under that age.

It also showed that security is the most popular job for male veterans. Ex-military people joining the security industry is nothing new, but security companies are capitalising on the Gurkhas’ formidable reputation.

G4S set up Gurkha Services in 2007 and it now employs at least 600 people across 27 contracts.

They are involved in guarding the UK’s “critical infrastructure”, such as power stations and railways, from vandals, protesters and thieves. Rarely a day goes by without some story about how cable theft has disrupted a train journey or caused a power outage. Now Gurkhas are the new front line against the crime wave.

November 13, 2011

Tyler Cowen on traditional values

Filed under: Economics, Liberty, USA — Tags: , , — Nicholas @ 12:54

In his latest New York Times column, Tyler Cowen looks at the relationship of wealth to traditional values of self-discipline and hard work:

The Occupy Wall Street movement has raised important questions about the respect paid to wealth in our society. There is a good deal of unfairness in the American economy, and by deliberately targeting the “top 1 percent,” the demonstrators have opened up a dialogue that is quite useful.

Nonetheless, as someone from a conservative and libertarian background, I find that I am hearing too much talk about riches and not enough about values. It’s worth recalling why so many Americans have respected the wealthy in the first place.

The United States has always had a culture with a high regard for those able to rise from poverty to riches. It has had a strong work ethic and entrepreneurial spirit and has attracted ambitious immigrants, many of whom were drawn here by the possibility of acquiring wealth. Furthermore, the best approach for fighting poverty is often precisely not to make fighting poverty the highest priority. Instead, it’s better to stress achievement and the pursuit of excellence, like a hero from an Ayn Rand novel. These are still at least the ideals of many conservatives and libertarians.

The egalitarian ideals of the left, which were manifest in a wide variety of 20th-century movements, have been wonderful for driving social and civil rights advances, and in these areas liberals have often made much greater contributions than conservatives have. Still, the left-wing vision does not sufficiently appreciate the power — both as reality and useful mythology — of the meritocratic, virtuous production of wealth through business. Rather, academics on the left, like the Columbia University economists Joseph E. Stiglitz and Jeffrey D. Sachs among many others, seem more comfortable focusing on the very real offenses of plutocrats and selfish elites.

November 10, 2011

Teachers in the US are not underpaid

Filed under: Economics — Tags: , — Nicholas @ 09:41

An article in the Wall Street Journal examines the facts over the common belief that public school teachers are underpaid:

A common story line in American education policy is that public school teachers are underpaid — “desperately underpaid,” according to Education Secretary Arne Duncan in a recent speech. As former first lady Laura Bush put it: “Salaries are too low. We all know that. We need to figure out a way to pay teachers more.”

Good teachers are crucial to a strong economy and a healthy civil society, and they should be paid at a level commensurate with their skills. But the evidence shows that public school teachers’ total compensation amounts to roughly $1.50 for every $1 that their skills could garner in a private sector job.

[. . .]

Education is widely regarded by researchers and college students alike as one of the easiest fields of study, and one that features substantially higher average grades than most other college majors. On objective tests of cognitive ability such as the SAT, ACT, GRE (Graduate Record Examination) and Armed Forces Qualification Test, teachers score only around the 40th percentile of college graduates. If we compare teachers and non-teachers with similar AFQT scores, the teacher salary penalty disappears.

While salaries are about even, fringe benefits push teacher compensation well ahead of comparable employees in the private economy. The trouble is that many of these benefits are hidden, meaning that lawmakers, taxpayers and even teachers themselves are sometimes unaware of them.

[. . .]

One important caveat: Our research is in terms of averages. The best public school teachers — especially those teaching difficult subjects such as math and science — may well be underpaid compared to counterparts in the private sector.

H/T to Monty, who writes:

Spiking another myth: public school teachers are not underpaid. Public-sector employees tend to assume that private-sector workers get paid a lot more than they actually do. Public-sector employees also tend to undervalue their own (expensive) benefit packages, and don’t include them in their base salaries. Career public-sector workers would be shocked at how little money comparable private-sector workers actually make, especially when private-sector benefits are compared to public-sector benefit packages.

Common resumé mistakes from hopeful IT graduates

Filed under: Randomness, Technology — Tags: , — Nicholas @ 08:54

Dominic Connor reads a lot of resumés from recent graduates. He’s offering some simple tips to help yours avoid the short trip to the shredder:

Does Ferrari say it makes “reelly good carrrs”? No, it bloody doesn’t. So why do you spell the name of your degree subject wrong? Why do you use slightly different fonts in each paragraph that screw with my ancient pimp’s eyes?

Why in the name of God do you think I care that you did OS/2 v1.1 in 1989? You may have just finished a PhD in Physics from Cambridge or Stanford, but your astonishing lack of any clue is demonstrated by the fact that more space is given over to the summer job you had in Starbucks than describing why you might actually be of use to the investment banks I recruit for.

Sometimes, just to wind me up, you send me a blue CV. Yes, black text on a blue background. Not only does the motivation for this leave me dumbfounded but when I blogged that this was silly several people somehow interpreted “please don’t send blue CVs” as “please do”.

Why do you send your CV to me with no mobile phone number? Do you not have one? Nor a landline? Why do you think your religion means you are a great match for my requirement of hardcore C++ skills?

I already know you want to leave your current job or else we wouldn’t be talking. So why are you listing the defects of your employer? Do you think it makes you look good?

Why did you send the file as a Word document? That may not sound too bad until you realise that every damned word you spelled wrong is underlined in red on my screen and your grammar is also ridiculed by a £70 bit of software that is apparently smarter than you.

I’ve been on the hiring side of the desk a few times, and I’ve seen almost all of these errors on resumés. I had one candidate who must have “borrowed” someone else’s resumé and just changed the name and address, because he knew far too little about the jobs he was supposed to have held. I’ve also had a candidate arrive for her interview on the way back from the gym, still in her gym clothes (not having showered). But my favourite interview subject was one who presented me with samples of his work . . . that I had written for a previous employer.

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