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GUEST COMMENT: A personal plea from a 50-something financial services professional

"I would be pleased if you could raise the dreaded issue of employing professionals in their 50s. It just seems a complete no go once you are within this age bracket. I have lost count of the number of applications that I have made over the last three years.

In most cases there is not even any acknowledgement which I understand in situations where there are many applications for a particular job.

I know what I am qualified to do so it's not a matter of applying for a position outside of my scope. I just think potential employers consider employing an older person off-bounds. I realise there are anti-age discrimination laws in force but in reality I would much prefer a situation where there is an age preference and then I wouldn't be wasting my time and others by applying.

When you have nearly 30 years' varied project experience, speak several European languages and have worked all over the world on financial transactions, it is indeed frustrating to find this means nothing when applying against younger applicants and that you are ignored.

It would indeed be interesting to have the reaction of other users of eFinancialCareers and their experience...."

[Your comments please.]

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AUTHORAnonymous Insider Comment
  • da
    dana
    23 August 2010

    Posted in probably 3 parts...

    Well, you're not alone. I'll weigh in on my London jobhunting experience in the financial services industry, which also has been for several years. Thankfully, I'm well employed, so I don't HAVE to find another job! But here are some observations:

    - Most jobs advertised are via contingency-based headhunters who are paid when they place a candidate. No placement, no payday. Very frequently employers farm out a given role to several headhunters so the latter scamper to find a suitable candidate to get paid. They don't have time to deal with candidates who might be real gems, but don't fit their client's "cookie cutter" specifications. They want to find a candidate who ticks the job spec boxes, place him/her, and move on to the next role. I think they just don't understand that we the candidate may do some hiring mode at some point...what headhunter are we going to call? So even a tad of courtesy could go a long way. Of all those headhunters (contingency and retained) I've dealt with, regrettably there are extremely few I'd actually want to hire.
    . (to Part II)

  • da
    dana (part IV)
    23 August 2010

    do I find this a real lack of courtesy and probably telling in terms of how I'm going to be treated, but for those of us who use an alphanumeric email address that's more vulnerable to spamcatchers, I really want to know that my application was well received. If I don't receive a confirmation, I ring the headhunter to at least confirm receipt of my CV and covering note.

    In the end I think patience and tenacity will win the day as will networking/personal contacts. While the Internet has made jobhunting easier, it hasn't necessarily made it more effective and has de-personalised the process. Just as it's quicker for an applicant to apply, so can headhunters and employers use software in an impersonal way to expedite their ticking a candidate's attribute boxes (or otherwise), cover their bases ("arses"), and move on to the next role. I'd encourage you to think how you can capitalise on an expanded contact base, including industry affiliations/groups, LinkedIn, etc. For me, I may just end up starting my own company. Good luck!

  • da
    dana (part III)
    23 August 2010

    not prepared to interview you, they're uncomfortable with the process, etc. I think this also can be a function of their insecurity, particularly vs. articulate, well-educated/qualified candidates. Why should a candidate have to "dumb down"?

    - And, yes, although there are laws against discriminatory behaviour, I don't believe they're "in force" or enforced. It's subtle, tough to prove, but it's there. I've been discriminated against because of my age and gender and am sure it's there across the spectrum. We just need more employees/candidates to band together and bring class action lawsuits against those employers discriminating most egregiously.

    In terms of acknowledging a candidate's application: More often than not, the recipient doesn't. Not only (to Part IV)

  • da
    dana (part II)
    23 August 2010

    - Like hires like. Hiring managers have a reporting hierarchy, so they want to remain in their comfort zone and won't stray too far from the company fold. In part it's a "CYA" mentality, but it breeds risk aversion in hiring. I've found - generally speaking - that hiring managers in or from the U.S. are more willing to consider a broader variety of a candidate's attributes than just trying to tick all the boxes on a job spec. Such is one reason I'd rather work for a U.S.-based than UK-based firm - at least in the FS industry.

    - The UK's FS industry is populated with accountants whom, in my experience, tend to think in very limited or linear ways, not to mention mixing "accounting" with "finance" - really two different roles. This, coupled with "like hires like" can be very limiting to a company and certainly very frustrating to a candidate who's done an MBA and, by definition, more of a big picture and out-of-the-box thinker..

    - There tends to be a lot of hiring managers who seem to be paid well above their competency levels. They're (to Part III)

  • si
    silverback
    18 August 2010

    Go to a non western region e.g.Middle East where bald or grey = wise.
    Western Capitalist culture always prefers young people, its the way it is. Maybe because they're cheaper, work longer hours and are easier to dispose of once burnt out.

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