I’ve had 15 interviews in 2018 and I think state street has cursed me....I can’t find a job.
23 replies (most recent on top)
As soon as you accept any job, you should have a plan ready on the next job you will have which should be in 4-5 years, max. You always have your sights set on the next achievement and you dress for the next role you want.
You want to be a CEO? Dress and act like one. And stay out of th gossip pits, listen to everything, but never repeat it.
I'm sorry that the job hunt has been so difficult. I have hired / interviewed quite a few people. I do prefer those resumes that show changes and growth. If you've been in the same job for years and years, you need to be sure your resume shows how your role changed and grew. If not, it "appears" that you haven't learned anything since year 1. I know that sounds harsh but I'm being real with you. Make sure your resume - and when you are interviewing - that you talk about how much you learned. Don't talk about loyalty to one company. That's not relevant to most. Also, to those of you who change jobs a lot: you do get a reputation if you move around too much. Maybe it's because you like change. But why would I hire you if you're going to leave in 2 years? That's not worth my time. Now, if you change every 5 years or so, that's a different story. Those people bring a variety of experience and different view points. I do think that's a positive. Finally, I was a former State Street employee who was laid off. Life has been 100% better since then. Not perfect, but much better. I don't miss State Street at all. That place was awful.
You want to stay “fresh” and relevant. That being said, I would never stay a a company in the same position longer than 7 or 8 years. If you get a significant promotion, that is great, but most people just coast in a job after 5 or 6 years. I’m in HR so I know what to look for and this comes from the top down. We are told to pass on people who have spent their entire careers at one company. Take it fwiw, I really don’t care, but that is why people rarely get promoted from within. In other words, if you are NOT significantly promoted at your company within 5 years, you are not considered for the higher up jobs. That is why you see so many brought in from the outside to do the job you were hoping to get promoted to, it’s because you are considered a coaster after a certain amount of time. Or you just didn’t pan out and had more people that didn’t like you in your time acquired in first 5 years.
Look at STT right now, lots of some semi senior people who were not promoted within 5 years, nor will they ever be.
@XbBx3ff-cbh I definitely agree that I would not hire someone either that has worked for 5 different companies in ten years. Have heard of many scenarios especially amongst the millennials who think it is ok to stay a position for one year and continue to keep pursuing another position because of company culture, pay, any excuse they can come up with. Just my take on what I think of many of the younger generation including my own relatives.
15 interviews for the year is pretty good, about one per month. probably above average compared to most people. maybe you are making unreasonable salary demands or simply don't interview very well?
Here is your new reality, like it or not. If you are one of those senior execs that worked at same dying company your entire life, you're useless.
Truth hurts. There are way too many people there now that can do the 'job' you did for 20, 25 years at a fraction of the cost.
If you are over 45 hope your debts are all paid off and you are not one of those id--ts who had a home with a jumbo mortgage, because you are about to lose everything with the coming housing crash.
Oh please. You were laid off, lol.
Run along.
@XbBx3ff-klz I am a former employee of State Street who worked for them for many years. They paid for my Master's program and I also spent time overseas working in one of their global offices. Many of us long-time employee's are not stale as you put it. Good for you that you are 42 and have changed jobs every 5 - 7 years. You sound to me like a very arrogant person who likes to brag about how successful they are and need some humility. I won't even begin to tell you what level I was at when I finally resigned from State Street.
@Post ID: @XbBx3ff-zqa
The point I was making is yes their is a differencee between a person who has been there for 25 years.
But never improved themselves by taking courses or volunteering for new projects.
Yes I seen people who just stagnant and just live a work life of repetive nature.
Then I have seen people who been there 25 years but take courses and are the 1st to volunteer on taking on new assigments and projects. The people I call the go getters not afraid to take on new things.
looks like a lot of dead weight lifers who got laid off are posting on here defending their 25+ year reign at a company, that in the end, kicked them straight to the curb, lol.
Anyone who has been at a company for 25 years and gets laid off most likely saw the signs for a few years or months (being moved about internally with no choice, as someone else mentioned) prior but just did not want to leave - yes, that's called being lazy. You never want to get laid off, first sign you think you are on the list or your job gets phased out and you are told to go to another group, you get going looking for work so you don't have that lay off scar on your resume. Once scared from a lay off, other companies will always view you as damaged and that stigma is hard to escape during an interview. We all know getting laid off is a horrible situation, it doesn't matter how you try to soften it, YOU were let go and not wanted any more.
My grandfather worked as an accountant his entire life at the same firm. That was decades ago, times have changed. The best way to learn about cultures and other places is travel. The same goes for the business world, the best way to learn is to move around every 5 or 7 or ten years to get exposure to how other companies do things, not to mention, the connection you make with the more people you meet at each company/job, etc. Unless you are a family owned business or come in the door on day one as an EVP or higher, you are just kidding yourself about working at a company for that long and not being regarded as dead weight after 25 years.
25 years at the same company is just sad, doesn't matter if you moved around within the company. Everyone I've ever known who has been a lifer at a company was usually talked about behind their back and believe me, no matter what level you were, it was not good chit chat about that person.
I can think of three people off the top of my head who have been at state street over 25 years and yes, they moved around because they were FORCED to move around, meaning their job in one group was phased out and they were sent off to wither away in another group. Now you don't see that as much any more, if you are not valuable they don't send you to another group, they just lay you off, but a few years ago it was common to see senior people with 20+ years being pushed out and told they can go to such and such group or they didn't have a job. THAT IS NOT SUCCESS. That is just pure laziness that the person gets pushed out and doesn't see the writing on the wall that they are not that valuable anymore.
When I hire people I try to find people with good lengths of time such as 5-10 at each company and 5 years per specific job. If the person has not grown in a company, and I mean really grown; from AVP to SVP/managing director level with a 15-20 year span, I view them as just a person who is comfortable with no change and just mailing it in. Thus, I pass on resumes that have the laziness coded within it, the 25+ years at same company with minimal growth.
I contacted all of my professional network. I filled out thousands of job applications and went of dozens of interview to land a job in Boston with a master degree and five years of experiences. It’s not easy.
It's humorous that you think 15 interviews is a lot. Jesus Christ. Just be glad this isn't 2008.
@Post ID: @XbBx3ff-ezu
Sorry you can be at a company for 25 years and move around with in the company, trying new jobs.
Sadly you make it sound like people who do not job hop from company to company are lazy or afraid.
Like I said if I was hiring a person and say they had 5 jobs within 10 years , it would raise a red flag.
Did they get fired ? Do they make job hopping a way of life just going from company to company
State Street doesn’t have a great reputation. So don’t expect other companies to be impressed.
LOL, companies don’t mind training people. Why do you think State St is cleaning house with 7,000 planned layoffs??? It’s to get rid of all the people that have been there forever.
New, younger employees cost a company less. The older you are with more benefits and stock options etc, the more you cost.
Also, an employee who has been at a company longer and is older, cost a company more in healthcare benefits as older people have more kids and start to get sick more or need expensive medical procedures.
Always good to move around it shows you are not afraid of change and are a quick learner. If I had to hire a 25 year state st employee over someone with a broad spectrum of experience from various jobs spanning 5-10 years at each company, I’d pass on the state st employee.
You must be over 50 and have worked for State St for 25+ years. You are stale.
I’m 42 and have changed jobs ever 5-7 years and added 25% increase each time I advanced to a better job. I also went back to a company for 4 years after leaving for 5 years, as I gained invaluable experience that I brought back with me when I returned to a better level and job. You can’t get those odds by staying at the same company your entire life. Change is good and I have a broad understanding of many areas in asset management.
I’m now at the level I desire to be at, have a great salary and two more years before I decide what role and company I want to conquer next. I’m always open to exploring the next great opportunity and that’s why I’ve gotten hired for EVERY job I’ve ever pursued.
I can’t think of anything more boring than to be at the same company your entire career. I’ve traveled, worked overseas and got experience I could have never got if I stayed at the same company.
I’m successful because I’m not lazy. I like learning and solving problems. I like sharing my knowledge with others and teaching.
Same company for 15+ years. Hell no. Too many awesome jobs out there and places to travel to.
@Post ID: @XbBx3ff-bim
Sorry your post is garbage , if you have a job you like doing . And the pay and benefits are good then it makes no sense to be go from one company to another.
And I hate to tell you a lot of companies do not want to waste time and money in training when they see you switch jobs ever 5 years are less
Depends on how long you were at State Street. If you were there 15+ years, they may pass over you, knowing that you really don’t have great experience since you stayed at the same do nothing job for so long. Sorry, but staying any place that long also has negative aspects to it.
I change jobs every 5 years whether I like my job or not, I get a fat pay increase every time I change jobs and enjoy the honeymoon phase of new job. Plus, after 5 years it is time for change, unless you are climbing your way up to CEO.
Same here. Got second and a third interview at 4 different companies here in Boston, thought I had it the bag for two of them, the interviews went fantastic. Unless I got a bad reference check or something like that, I just don’t understand how I can’t find another job. I am still working but it is much worse to find a job when you are unemployed so I’m looking now and finding nothing. One place also hired someone from out of state, I think nyc, so they may have had better experience.
It seems like companies look at out of state hires as quality and not tainted from their employer down the street, but it’s so much more expensive to hire someone from out of state, they have to really like you to pay all that relocation expense plus your salary.
Before I got my new role at STT I had plenty of job offers st big babes banks I almost left but I decided to stay I have a great job the pay is lower than what I could’ve gotten at the other big banks. But no regrets no job is safe ever or anywhere
Well it just goes to show the economy is really not that great for more senior types of jobs.
Also, there are so many from State Street looking right now that the competition is huge. Two jobs I interviewed for at VP level were filled with people outside of Massachusetts. So other companies here are hiring but they are passing on talent that is already here, they’d rather recruit from out of state. Definitely feeling your pain. I may look out of state as well.