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How To Flub A Job Interview--Follow This Advice

Personal finance columns drive me up a wall.  Here is a doozy of bad advice.  We'll take it point by point.

Five Ways to Flub a Job Interview

by Penelope Trunk

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Posted on Wednesday, November 7, 2007, 12:00AM

We spend so much of our careers doing good work, meeting interesting people, and learning new skills. But it really all starts with one moment: the interview.

Once you get there, you need to be able to package everything together for a nice, neat presentation that's memorable in exactly the right way.

Here are five mistakes a lot of people make -- even people who are great at doing interviews:

1. Not preparing for a phone interview.

Most hiring managers screen candidates on the phone before they bring the candidate in for an interview. This is to make sure there aren't any glaring problems.

A phone interview saves time. If you can't get the answers to basic questions right on the phone, there's no point in interviewers watching you botch those questions in person. Also, the hiring manager is looking for you to make a mistake that would rule you out. For example, not knowing that you shouldn't take a call with a screaming baby in the background.

So instead of thinking of the phone interview as a precursor to the real thing, think of it as something you can prepare for. Learn the rules.

MY INTERJECTION HERE--IF YOU DON'T PREPARE FOR AN INTERVIEW, THIS ARTICLE IS NOT GOING TO HELP YOU.  YOU ARE ALREADY TOO STUPID TO GET A JOB.

2. Misunderstanding the point of a face-to-face interview.

Hiring managers today have a lot of tools at their disposal to figure out if you're qualified for a job. The Internet reveals your history, and often the content and quality of your work; LinkedIn can provide a plethora of references from people who have worked with you, whether you actually provide them to the employer yourself or not. And a phone screen can give a sense of your verbal abilities.

So what's left? Whether or not you click with them -- whether they like you. Remember that intangible thing that happens on a date when you decide if you like the person or not? The same thing happens with hiring.

This is what the face-to-face interview is all about. So make a great first impression, and focus on making sure the interviewer likes you.

SEE POINT 1.  YOU DON'T KNOW THE POINT OF A FACE TO FACE INTERVIEW?  IF YOU DON'T, DON'T WORRY, YOU ARE PROBABLY INCAPABLE OF FINDING THE OFFICE FOR THE INTERVIEW.

3. Neglecting talking points.

When President Bush walks into a press conference, he doesn't worry what journalists are going to ask him because he already has the answers he's going to provide -- no matter what the questions are. Such answers are called talking points.

Politicians want to frame an issue, so they listen to a question and then decide which of their talking points they'll use to answer that question. In this way, each question they're asked is an opportunity to get their own points across.

I once had a media trainer teach me how to stick to talking points, and it works for a wide range of situations -- including job interviews.

You control what five topics you want to discuss, so you should pick five things about yourself that you want to get across in an interview, and each point should come with some sort of story or example. You listen to each question and then figure out which point fits in well for a particular question.

You're not George W. Bush, though, so you can't totally ignore questions that don't have pat answers. But you'd be surprised how often you can answer an interview question with one of the five answers about yourself that you've prepared. This is a way to control an interview and make sure the focus is on your strengths.

A great resource for helping you understand how to frame your answer for any question is the "The Complete Q & A Job Interview Book" by Jeffrey Allen.

YOU CONTROL THE INTERVIEW?  SORRY, NOT TRUE.  SURE THERE ARE SOME POINTS YOU WANT TO GET ACROSS BUT IF YOU START TAKING OVER THE STAGE, YOU ARE GOING TO LOSE.  THE MAIN PURPOSE OF AN INTERVIEW FOR THE HIRING MANAGER IS TO SEE IF THIS PERSON IS GOING TO FIT IN.  BE YOURSELF.  IF THEY DON'T LIKE YOU, TOO BAD.  IF THEY DON'T YOU ARE PROBABLY BETTER OFF NOT WORKING THERE ANYWAY.   

4. Thinking the job description is set in stone.

When you start an interview, find out what you're interviewing for. Typically, the person who writes and publishes a job description is not the person making the hiring decision. Ask the hiring manager what the goals are for the position, and ask who the new hire will work most closely with so you know who'll have the biggest say in whether or not you get hired.

And, if you get the job, remember that it could change all over again. Immediately. So don't ever assume you know what your job is until you investigate. The only constant about your job description is that you must be invaluable to your boss in order to succeed.

DOES THIS PERSON UNDERSTAND ANYTHING ABOUT CORPORATIONS?   I DON'T THINK SO.  THE PERSON DOING THE HIRING PROBABLY DID WRITE THE JOB DESCRIPTION OR GIVE THE INPUT TO HR SO THEY CAN PUT IT INTO THEIR PET FORMAT, SO PAY ATTENTION TO WHAT THE HIRING MANAGER IS SAYING.  THE ONLY THING THAT MAKES ANY SENSE IN THIS ARTICLE--BE INVALUABLE TO YOUR BOSS!

5. Failing to close.

A job interview is a sales call, and all good salespeople know that you don't have a deal until you close it. An almost-deal is not a deal, in the same way that a good interview is not a job.

So toward the end of the interview, if you think things are going well, say, "Do you have any reservations about hiring me?" Most hiring managers will answer this question truthfully, and it'll give you a chance to assuage their fears.

This is a hard question to ask, because you'll be faced with your weaknesses right there in the midst of the interview. But if you don't take the time to explain how you'll overcome those weaknesses it won't come up, and you're much less likely to get the job.

THIS IS SO DUMB--DO YOU HAVE ANY RESERVATIONS ABOUT HIRING ME?  WHY, SHOULD I?  IF SOMEBODY ASKED ME THAT QUESTION, I WOULD ASK FOR PSYCHOLOGICAL TESTING.  IF YOU ARE INTERESTED IN THE JOB, SAY SO AND THEN TELL THEM WHY YOU CAN DO IT.  JEEZ, THIS IS SO STUPID.

SORRY BUT THIS KIND OF STUFF WILL KEEP YOU UNEMPLOYED FOR A LONG, LONG TIME.

Need Job Fulfillment? Read this--

I love Ben Stein.  Really like the first part of this, not too crazy about the middle part and back on track for the last part.  Go, Ben, go.

Arm Yourself for Job Fulfillment and Retirement Bliss

by Ben Stein

Now for some decidedly non-PC thoughts.

I hear a lot of bragging from my pals about how their daughter got into Brown or their son is being courted by Goldman Sachs or their grandchild just got into a fancy prep school.

Worth Bragging About

What I never hear is bragging from parents who say, "My son just got into the Army Special Forces and is risking his life to keep your son and you alive." I never hear parents saying that their kids got into the 82nd Airborne and are now fighting in Afghanistan to give people there a decent life and keep Al-Qaeda tied down so they don't come here to attack us.

Now, you may say, "All well and good, and it's great that these military families are so modest. But what does this have to do with me?"

It has everything to do with you, my friend.

Why It Matters

First, the military people on the ground -- and those in the ground in Section 60 of Arlington National Cemetery -- are the ones who keep your family alive. They're the ones who comprise the wall around America so that we can play and make money for our retirement and enjoy our children. They, whether in training or in traction, are the ones who keep America humming and keep the noblest dream of freedom alive in our hearts.

Again, you may say, "I agree and honor them, but what does this have to do with a column about money, careers, and finance?" Again, everything.

Day after day I get letters from readers who complain about their jobs and their lives. They have dead-end careers. They have bosses who disrespect them. They have colleagues who are strangers. I know that world. I've been in it.

Real Job Satisfaction

But I also get letters aplenty from men and women in the military. They love their jobs. They do exciting work. Dangerous, of course, but exciting. They have immense responsibilities. They get challenged on a scale they would never have dreamed conceivable. They bring more out of themselves than they knew they had.

Yes, they don't get paid as much as they should. But their pay isn't terrible, and they get extraordinary benefits. More than that, they wake up each morning feeling that they matter. They never have to worry if they're making a difference in the world, because they know there would be no civilized world without them. Their colleagues on the battlefield not only treat them with respect, they would give up their lives for them. They have each other's backs in the real sense of the phrase. (Please, someone at a Wall Street firm, tell me if your colleagues feel the same way about you.)

In short, dear reader, you might want to consider a career in the military. The world needs you, and it just might make you feel like you're doing something very worthwhile with your life.

Light at the End of the Tunnel

Second, I want you to think about retirement in a serious, truthful way. This will tell you that while you're going to be fairly vigorous and sprightly for the first part of your golden years, you possibly won't be for all of them. You'll get a bit weak, often more than a bit confused, and generally not totally "there" for your duties and responsibilities.

This is one of the many reasons I love and recommend variable annuities, which you then convert into a lifetime annuity. Once you've set the annuity on autopilot and start adding to it (always with an eye on fees), it compounds month after month free from tax.

True, when you start withdrawing from it, you have to pay income tax on the amount of gains in the account. But for most Americans, that rate is now extremely low. And you get that check from the insurance company or financial house as regularly as clockwork. It mounts up and up during your contributing years, and then you get the money through the mail.

You don't have to study the market. You don't have to worry about ups and downs. The money just comes in every month or every quarter and you live on it. And it's guaranteed to be there until you die, or for some specified number of years thereafter.

Old age, especially the part of old age that involves loss of powers, is frightening enough for anyone. Old age that involves fear of financial insecurity is truly horrifying. Annuities are a safe, easily accessible, low-cost (if you keep an eye on fees) way out of that desolate valley. Keep them in mind, even if others mock them. They work.

Hardly Working

Finally, I have a correspondent who endlessly asks me if I know ways to get rich that don't involve much work so she won't miss her pedicures. She also wants to work only with nice people who are also smart.

I hate to break this to her and to everyone in her situation, but there's no such job. Making money takes hard work. The people who do it well make it look easy, but it isn't. It's hard work. Get used to it. And the people you work with aren't always nice, either.

There's no royal road to quick wealth. Hard work and disciplined, sensible savings will get you there. Not pedicures.

Taxes--Higher In The Future?

Not sure I buy all this but an interesting article on politics and taxes (or tax increases) as a result of the election cycle. 

THE BASIC RULE REMAINS--BE IN THE MARKET OVER TIME AND YOU WILL GET RICH.

 

A Capital Gainsay

11/12/2007

Story Highlights

• Media headlines are already warning of higher tax rates after the 2008 elections.
• It’s far too early to know what the outcome of the elections will be, or what the incoming administration’s agenda will be.
• There’s currently little benefit to trying to maneuver around potentially higher capital gains rates.

________________________________________________________         

Though our political pals have already been campaigning for, seemingly, an eternity, we’re now entering the official campaign season. Hoorah! And the most popular agenda item, after ensuring the survival of blood-thirsty, man-eating Arctic carnivores, seems to be whether to extend or end the “Bush tax cuts.”

The market doesn’t care if the president’s Democrat or Republican, and we don’t either. At MarketMinder, we’re vigorously politically agnostic, preferring no political action to any political agenda—left, right, or center. But should the Dems sweep the White House and Congress in 2009, are tax hikes guaranteed? And does that mean you should sell now to take advantage of today’s lower capital gains rates? No and no.

First, the Dems are by no means guaranteed the White House. It’s way too early to handicap the race. Recall Howard Dean seemed unstoppable before his barbaric yawp in Iowa. A million things could happen between now and November ‘08. Governors Romney or Richardson could make a surge. A major candidate could drop out of the race. Senator McCain could seize the lead from Mayor Giuliani, switch parties, and convince Stephen Colbert to be his running mate. Senator Obama could be discovered to have been Hillary Clinton’s commodities broker! Voters could realize Hillary Clinton is Hillary Clinton!

If that provides no comfort, consider this: Would it shock you if the next president is a Democrat, and would it shock you if he or she raised the capital gains rate? Did you answer “no” to both? The next president won’t take office for 13 months, yet we’re already seeing headlines like these:

Wall Street Braces for Higher Tax Rates
By Jeanne Sahadi, CNNMoney.com
http://money.cnn.com/2007/11/07/pf/taxes/investment_rate_change_effect/index.htm?postversion=2007110815 

The market doesn’t move on what’s widely expected—it moves on economic fundamentals that are unexpected. By the time President Whoever enacts their stupid tax agenda, the market will have had a very long time to price in the ill effects. That doesn’t mean we think tax hikes are no big deal—it means you needn’t worry about what pretty much everyone is already worried about. There’s not much market moving power in the wholly expected.

But let’s suppose you know exactly who’ll win and exactly what’s in their black little heart—raising the capital gains rates to 25%. Or higher! What can you do with that information?

Some might say, “Sell! Sell! Sell!” to take advantage of today’s lower capital gains rate. Fine . . . then what? Sit with your proceeds in cash? Even assuming a tax hike, equities have a far superior long-term average than bonds or cash. Selling now to avoid a higher rate later isn’t cutting off your nose to spite your face—it’s full frontal lobotomy!

Another straw man might say, “Well, I’ll sell now to pay the lower rate, then reinvest. That’d be smart, right?” Nope—if you assume stocks generally rise over time (as we do), the best place for your dough usually is in stocks. Trying to time the market, no matter what your reason, is fraught with peril.

Plus, it’s not guaranteed you’d be better off by gaming the lower rate now. The magic of compounding means it’s generally better to leave money working in the market for as long as possible. Why pay taxes now if you don’t have to? Yes, your rate might be higher later, but it’s a higher rate on conceivably a much bigger pool of assets—meaning if you give the market time, you can still end up with more, net-of-taxes, than if you do a tax hokey-pokey now. Isn’t the goal to end up with more money? We’re not fond of handing our money to the government either, but we wouldn’t purposely deprive ourselves of greater returns just to make a point. We’re principled, but we’re not crazy.

We can’t know how the elections will turn out, and there’s no telling what the incoming administration’s tax policy will be. Anything can happen—we can even envision a situation where a Democratic sweep of both Congress and the White House still wouldn’t yield higher taxes! Given those uncertainties, and the undeniable benefit of compounding interest, the best course of action is to deny the government tax revenue today in return for the likelihood of greater returns for yourself in the future. It’s the American way.