Finding a new job

Hate your job and thinking of moving on? We’ve all been there. Around the one-year mark, I found myself in the same situation. I realised I would need to make a change sooner or later, so I thought, why not sooner? But there’s a fine line between making a timely move and rushing into unemployment.

One piece of advice I’d always offer: don’t quit your job until you’ve got something else lined up. The job market can be unpredictable, and having a stable role takes away much of the stress that comes with a long job search. Additionally, employers still frown upon gaps in your CV, and this can weaken your bargaining power when negotiating salary or terms. Remember, while you’re still employed, your Best Alternative to a Negotiated Agreement (BATNA) is your current role. Your potential employer knows that too, and it gives you leverage in negotiations.

The First Step

Tailoring your applications for graduate programmes, such as those in investment banking or consulting, can be key to success, as these roles are often highly structured and competitive. However, for more experienced roles or non-graduate positions, you may need to adopt a broader approach—what I like to call the “spray and pray” technique.

The reason? What different companies are looking for can vary wildly. Some may require a detailed cover letter, while others won’t even ask for one. Experience requirements may also be inconsistent. The quality of recruiters also varies greatly, with some taking more care in screening applications than others. As a result, it’s more productive to ensure your CV gets in front of as many eyes as possible, rather than getting bogged down in perfectionism for every individual application.

To speed up the process, consider reaching out to recruitment firms or headhunters. In sectors like private equity, these firms often control access to the most desirable roles. Some recruiters may proactively reach out to you, but why wait? Attending webinars or industry events organised by these firms can help you build valuable connections. You’ll also find that LinkedIn’s Easy Apply function is your friend—it allows you to apply to jobs quickly, even during lunch breaks or bathroom visits at work (just ensure you’re not on company WiFi when doing so!).

Doing Your Due Diligence

Once you’ve submitted a few applications, you might feel inclined to dive into the specifics of each company. However, while employers’ websites and brochures will paint a rosy picture, ex-employees tend to offer the most honest insight. Their incentive to sugar-coat the company’s culture is virtually non-existent, unlike current employees, who may still have one foot in the door.

Online forums like Reddit and Wall Street Oasis can also provide uncensored opinions, particularly on industries like finance or consulting, where the culture and workload can vary drastically from company to company. Sites like Glassdoor can be useful, but in my experience, its reviews tend to be hit or miss—often influenced by employees with particularly extreme experiences, whether positive or negative.

Navigating Interviews

Interviews are a real challenge when you’re already working full-time. Scheduling can be a nightmare, especially when multiple rounds are required. In-person interviews are particularly tricky, so always inquire about the possibility of virtual meetings. Many companies, especially in a post-pandemic world, are more open to online interviews than ever before. This will allow you to better manage your time and avoid suspicious absences from work.

If in-person interviews are unavoidable, it’s worth conserving your annual leave to accommodate the interview process. You don’t want to use up all your holidays before the job hunt has even reached its peak.

Salary Negotiations

When the time comes to discuss salary, remember to always give a range—but make sure your low-end figure is still comfortably above your minimum. For instance, if you’re targeting £40,000, consider asking for £50,000-£60,000. This not only anchors the negotiation but gives you room to adjust. HR departments are used to negotiating, and they expect candidates to pad their expectations slightly.

It’s also important to bear in mind the leverage you have. Ideally, you’d want multiple offers on the table, allowing you to cherry-pick the best one. However, it’s notoriously difficult to align interview processes in such a way that multiple offers arrive simultaneously. In reality, you may need to decide whether to accept a decent offer on the table or risk waiting for something better down the line. It’s a delicate balance between patience and pragmatism, and it’s a choice that varies depending on your personal circumstances.