Colorado, from a New Yorker's point of view

I had an interview last week and I thought it went very well.  The company wanted to hire four temps, and supposedly they had the funding to make a couple of those temps permanent headcount.  For the last week I’ve been thinking to myself “how could I get rejected?  Getting rejected would mean that there are four better qualified or better connected people out there.  No way.”

As it turns out the division lost some funding and can only hire one person.  They opted to go with a candidate that had 15 years of industry experience.  I’ve bounced around between three different industries in my career.  I’ve beginning to realize this is going to hurt me.  If I am going to do the whole corporate America career changing industries repeatedly will hurt me.  Of course with the job market the way it is I’ll settle for any industry, which will only make things harder for me in a few years when I look for yet another job.

I had a job interview this morning.  It was my first face to face interview I’ve had since I’ve been in Denver.  The company is looking for some temps to take on a horrible data mining project.  They have a division which they don’t think is profitable, but they don’t really know for sure because all the data (sales, collections, COGS, customer info) is in multiple databases and they need army of analysts to figure it all out.

I’m excited but it’s only for a temp role, but they think it might become permanent.  It seems like it will be a lot of work, but they are trying to hire four heads to work on the project.  How did it get so bad that they need four people to handle it.  Sounds like Red flag #1.

I usually interview very well, at least I think I do.  I’m usually very relaxed, I have good answers etc.  I might get stumped on some technical questions, I’ll tell those stories some other time.

Back to this morning, mid way through my response to the first question I found myself talking very fast.  Throwing out random verbs and nouns being forced to then string together tenses and conjugations until I could recover and give the illusion that I speak the language.  And just as I am able to get basic English and grammar down I start to hope that I have enough time left to actually attempt to answer the question I was asked.

Luckily I recognized I was doing it and I recovered.  A couple of deep breaths later and I was fine.  The questions I was asked were mostly about: “How would you solve this problem.”  I got a weird vibe from the first interviewer.  It was almost as if he didn’t like my answers or that I was missing something.  I said the same stuff to the second interviewer.  He loved my responses  and said I was “spot on.”

I’m not sure what answers the first guy was looking for.  If a division is not profitable I would analyze sales, selling prices, mix of products,  contracts, all costs, SG&A expenses, and allocations.  Usually everything is forecasted so start investigating variances and go from there.

“There are three kinds of lies: lies, damned lies, and statistics.” – Charles Wentworth Dilke, but popularized by Mark Twain

Statistics lie, then again maybe they don’t.  You just need to fully understand what the statistics represent.

When I first decided to move I partially selected Denver because it had stronger than average job growth.  I really liked the idea of a living in a growing city with a strong economy.   I don’t remember where I read this information, but I assumed that it was standardized for population, as in job growth is x per 100,000 people.  Turns out it wasn’t or I had old information.  According to the Bureau of Labor Statistics and the US Census Bureau:

Colorado job growth in the 1990′s was 44% and the population grew 31%.  Jobs grew faster than the population in terms of percent.  In the 2000′s this switched.  Jobs grew at 3% and the population grew 20%.  Keep in mind that these are percent changes, not absolute numbers.  When you look at the absolute numbers the picture gets even worse.

In the 1990′s Colorado added 670,000 jobs, but the population grew by over 1,000,000 people.  In the 2000′s Colorado only added 58,000 jobs but 870,000 people moved here.  In the 2000′s the state added the fewest number of jobs since the 1930′s.

Denver still has a lower rate of unemployment than the National average, but according to a recent article in the Denver Post, it might take a while for robust hiring to occur.  Sooner or later I should probably get discouraged.  Luckily I’m keeping my spirits up.  I’m slowly realizing that my plan to buy a house in time to take advantage of the tax credit is slipping away.  It looks like I’m not going to be employed before the program ends, and I’m pissing away all my down payment money.  B’ah Hum Bug.

After two rounds of interviews I was rejected for a job which was identical to the position I held with my previous employer.  If anything the position would have had slightly less responsibility than my last role.  I find it very difficult to believe they found anyone more qualified.  My only assumption is that the hiring  manager just didn’t like me.  The only positive aspect is that the position was in a small regional office.  This means that except for the possibility of assuming my boss’s position there would be no advancement without moving to Michigan or New Jersey.

All along I’ve gone with the assumption that I won’t find a job until late Q1.  Based on my experience companies wait to see how they land the year before granting final permission to add headcount.  The human resources department gets the ads posted by mid-January, interviews take place in February and employees are added in March.  Assuming the new position was budgeted for the entire year adding a new employee in March eliminates two months of salary expense.

Over the last few weeks I’d like to think I’ve noticed more job openings.  At least that is what I tell myself.  While I’ve probably noticed more positions, there haven’t been as many finance jobs.  I’ve also stopped applying to positions unless I am very well qualified for the role.

I was recently turned down for an interview just because I don’t have Oracle experience.  I think it is better to hire someone with good business acumen.  You can always teach someone systems.  In this case the company has enough potential applicants that they can be as selective as they.  My recruiter also told me the company is considering making a full-time offer to the temporary worker who is currently in the role.  This is another example of how companies are using more temps and offering them full time positions.

The current job market is starting to scare me.  Over the last two weeks I’ve met a bunch of people who just became unemployed.  I’ve run into more unemployed people in the last two weeks, than in my first two months in town.

I want to avoid going back to the restaurant industry, but I think I might have to.  I didn’t want to get a restaurant job before heading home for Xmas.  I figured they would need the seasonal help and would frown upon me taking time off.

I’ve also been avoiding the hospitality industry because good jobs are scarce.  Restaurant revenues are down, and there is a glut of unemployed ready to fill what few jobs there are.  Could I get a job working a Monday lunch where I earn $25 bucks all day?  Sure, but I am beyond that.  Would I take that shift if it also came with a couple $150-200 shift each week?  Of course.  But even in a busy joint, those shifts and sections go to those with the most seniority.

A friend of a friend is a wine distributor.  He thinks he can get me some interviews in some high volume establishments.  I really need to contact him.  I also feel slightly guilty taking a job knowing that as soon as I get a “real” job I’d quit.  I’d love to stay on and work two jobs for a few months and rebuild my savings.  But it is usually impossible when you work in the corporate world.  Some days you might get to leave work at 5pm, other days it might be 8 or 9.  Restaurants will never tolerate that kind of unpredictability.  Even if you find a place that give you a late shift, it means you work until closing.  Working until closing time means you’ll be lucky to get 4-5 hours a sleep a night.

Another few weeks and I won’t have a choice.

I spoke to an HR recruiter today.  It was an informal meeting.  I wasn’t so much looking for a job as I was looking for information about the job market.  After getting off the phone I realized ignorance is bliss.  When I quit my job and moved out here I assumed it would take me about 3-4 months to find employment.  Now I’m thinking it’s going to take a lot longer.

The recruiter I spoke to mentioned that for a recent Jr. level project manager position she received 500 applications and for a more senior role she recieved over 800 applications.  She stated that typically they receive twice the number of applications then they did a year or two ago.  I guess that explains why companies aren’t beating down my door.  Originally I wanted to find a job that was a little more advanced than what I had been doing.  I was also considering trying to move from finance into selling or marketing.  Based on the conversation with the recruiter I don’t think that will work.  With so many candidates companies truly have the upper hand.   You better meet everyone one of their requirements or you aren’t even going to get a phone call.

On the other hand if I apply for a job that I’m over-qualified for companies won’t hire me because they know that once the job market gets better I would probably leave.  This leaves me with having to apply for identical jobs to what I had, of course since it is Denver there will probably be a paycut involved.  Relocation packages and signing bonuses have also gone the way of the dodo.

What gets frustrating is that I have a few friends who never went to college, let alone grad school and yet they make fairly close to what I was making.  My SL600 worth  education is really only serving to make me more disillusioned.

Let’s hope something comes along before I resort to sucking dick for crack and then selling the crack.

I just got a voice mail from an HR rep at a company I recently applied to.  The message said “…we have a lot of great opportunities in the Denver area.  I want to talk to you about them, please call me back as soon as you can.”

Wow, sweet.  I assume this means I have at least earned an interview.  They probably want to talk to me in person to see exactly how wonderful and qualified I am.  Before calling the women back I hit refresh on my email.

“Oh look an email from the same company.  They must really be trying to get a hold of me.” I  thought to myself.  I clicked the email and read “Thanks but we’re not interested in hiring you.  You suck and go fuck yourself.”

Okay, maybe the email was written slightly differently.  But the message was still “Fuck you for having the audacity to even think we would hire you.  Go fuck yourself.”

Of course now I’m wondering why the women called me.  Was it to tell me off in person?

This actually happened to me once before.  I was working for this company and I applied for an internal position.  I thought my interview went well.  Weeks and weeks went by and I didn’t hear a thing.  Finally, after spending an entire Friday morning in meetings I got back to my desk and checked my voice mail.  There were two urgent messages from the HR rep, pleading with me to call her back immediately.

I was slightly shocked, because I assumed after not hearing anything for so long that the position was going to someone else.  But no, they must want me.  Why else would they leave me these urgent  messages telling me to call them?  I eagerly called the HR rep.  She then told me “Thanks for calling back.  We’ve made a decision about the position and we want to announce it today.  Before it becomes public we just want to let you know you didn’t get the job.”

The fact that I interviewed two months ago and never heard anything told me I wasn’t getting the job.  But thanks for leaving those “urgent” messages.  Way to get my hopes up.

A similar thing happened earlier in my career with the same company.  When I was first hired I was brought in by my manager.  I mostly bypassed the whole HR process.  I was working for about two weeks when I got a letter in the mail.  “Thanks for your interest in working for said company.  At the present time we have no openings that match your skills and experience.  We’ll keep your resume on file for the next 90 days.  You suck and go fuck yourself.”

I actually kept that letter hanging in my cube for a few years as a testament to the cluelessness of the HR department.

I met with the recruiter the other day.

He has a Senior Financial Analyst position open.  The position sounds interesting and there would be very little accounting involved.  It would be in a new strategy department.  I would be working closely with the marketing team.  It is with a small company so there is plenty of room for growth.

The problem is that it would basically be a lateral move, which you should never make.  I’ve worked for one of the world’s most premier luxury brands.  I’ve also worked for a large multinational company with almost $60 billion in annual sales.  A company which is consistently ranked as one of the most, if not the most admired companies in the world.  With this type of background a lateral move to almost any other company is really a step back.

I’m still trying to research this potential company.  Their website is outdated and has very poor product information. The company is a very small firm which tries to compete against Walmart on price.  That’s not really a good strategy for staying in business.  That lesson gets covered on Day 1 in business school.

Walmart basically sets their own prices with their suppliers.  If the supplier wants access to Walmart’s customers they have to play by Walmart’s rules.  Walmart has the most purchasing power therefore they get the best price in the market place.   Let’s assume this other company has the same pricing structure from their suppliers.   By selling cheaper than Walmart their gross margins are less.  Walmart is also the king of efficiency.  There is no way this other company can have lower SG&A costs.

You don’t successfully compete with Walmart on price.  Maybe you can do it in a small geographic region of the country.  Maybe you can do it with certain product lines.  But as a general strategy it is not a good idea.

On the other side I could argue that a job is a job. Although I don’t fully believe that.

This could workout well. Large, well respected companies have no problems attracting talent.  Smaller companies, with questionable strategies have a harder time attracting talent.  Therefore to attract talent sometimes they pay more.  Of course in a low volume, low profit margin business there is probably not a lot of money to go around.

I have a meeting with a head hunter tomorrow.  Which is good for my ego, at least somebody wants me.  I mostly consider head hunters to be useless.  I actually had one ask me if I had heard of the company I used to work for.  They were trying to back fill my position.

“You have my resume in front of you right?  That is how you got my number?  Look about a third of the way down.  Notice anything unusual?  Yeah, I worked for that company.  What else you got?”  Is it wrong to expect a recruiter to spend a minute reading my resume before contacting me?

Maybe they are not all useless.  I’m saying this in part because I’m hoping my meeting tomorrow is successful.

I applied for two Senior Financial Analyst jobs that this recruiter is looking to fill.  The first of which pays extremely well.  So ridiculously well that I had to wonder what they expect from a position that requires them to pay 30-50% more than most other similarly titled jobs.  I was hoping it was something simple like keeping two sets of books, or being able to operate a paper shredder.  My instinct tells me the only reason they pay so well is that they expect you to do the work of two people.  I applied for the second job because it required no extra effort.

Within two hours of applying I got a call from the recruiter.  The company looking to fill the first position is looking for a Chartered Financial Analyst (CFA) with about 10-15 years of experience.  The CFA certification is the pinnacle of  financial designations.  If you want to be a trader, or run a mutual fund this is the certification for you.

It is one of the hardest certifications to obtain.  There are way fewer CFA’s than MD’s, CPA or lawyers in the country.  It is the financial equivalent of a neurosurgeon.    Almost anyone can be a general practitioner, just like any idiot like myself can be a financial analyst.  But to be neurosurgeon or CFA…well that’s impressive stuff.

One of my Grad school professors was a CFA.  He barley spoke English, but he was a math whiz.  Rumor had it that it he gave everyone A’s so they wouldn’t complain about his poor English.  The only thing I really remember from the class were his tirades against casinos.  It seems he was frequently getting himself tossed out for counting cards.  There is nothing like a nerdy Chinese guy coming into class on a Monday and bitching in broken English about getting booted from yet another casino over the weekend.

I tend to agree with him.  If you are skilled enough in math to count cards and run probabilities in your head you shouldn’t get tossed.  Hopefully you can be suave enough to pull it off discretely.  But regardless maybe allowing it would inspire some American students to be better in math.

Back to tomorrow’s meeting.  Without a CFA certification the first position is off the table.  Which is okay because if I had a CFA certification, the position would need to pay substantially more to spark my interest.  The second position seems to be a typical senior analyst role.

Wish me luck.

I’ve been debating about what line of work to pursue. Part of me, a very big part, says get out of finance. Another part says, “yeah but you have experience, make that work to your advantage with a high paying finance job. Try for something out of my league. Make the fucking MBA payoff. If that doesn’t work then go for something unrelated.” Actually it makes sense to go for both. However any real job seeker will know it is easier said than done. My finance resume is pretty good and ready to go. That’s the cookie cutter one, but trying for other positions requires many other cover letters, each with different focuses and objectives etc. Such a waste of time.

The pyramid in finance gets narrow very quickly. In a typical organization there is one CFO, a few directors and a bunch of peons. At my last job there were about a dozen finance people making a decent living, where as in the small division I supported there were easily 3-4 times that in selling and marketing earning comparable or substantially better salaries. Most of them also had much better hours.

I could easily get another senior financial analyst position, but I don’t want to take the pay cut. Nor do I want to do continue to do the same stuff. I haven’t seen too many finance manager positions posted. The ones that I have come across usually require public accounting experience.

I’ve seen a couple of sales positions, but not enough for my liking. Almost all require sales experience, even for the real crappy sales jobs. Or they require obscure experience. For example, I saw a positing requiring 3-5 years of lawn care / horticulture experience and another that required years of sewer treatment design experience.

Such a frustrating endeavor. Must get motivated to find a job. I’ll keep everyone updated.