10 Tips for Landing your Dream Job in Finance or Law

Getting a job at an investment bank or corporate law firm can be super competitive, even if you have all of the right credentials to get your foot in the door. So it’s important to have every possible advantage when you are going through the job search, application and interview process.

To that end, I sat down with a top headhunter from a national recruiting firm and a director of recruiting at a large corporate firm and talked to them about some common mistakes that candidates make and ways that candidates have impressed them.

Based on their experience and my own, here are ten tips that should improve your chances of landing your dream job:

1. Set up informational interviews. Don’t just rely on the formal recruiting process or submitting your resume online. You need to distinguish yourself early by making connections and helping people put a face with your name. Even if the company you are interested does not have a position available, you should try to set up an informational interview with a high-ranking person in the department where you would like to work. The purpose of this interview is to express your interest in the company, demonstrate your knowledge of the organization, and make a connection to follow up on in the future. You can work your network and try to set up an interview with someone you already know or call the recruiting or hiring department and ask them if anyone is available to meet with you for this purpose.
2. Have a bulletproof resume. Yes, yes, you know all of these things. Be on time, wear a nice suit to the interview, and don’t have any typos in your resume. Blah, blah, blah. Who would have a typo on their resume? Not me, you are thinking. According to the hiring partners I spoke to, you would be surprised at the number of top notch candidates who have errors on their resume and who are taken out of the running because of it. So, make sure your resume is picture perfect, in an easily readable format, all on one page (in almost all cases), and specifically tailored to the position you are applying for.
3. Do your research. Read everything you can get your hands on about the company and the industry. Read the Wall Street Journal cover to cover the week before your interview. Be familiar with the content of the company’s website and able to reference major deals or current events that show your knowledge of the company. Pay careful attention to the language used on the website and in promotional materials to describe the company’s culture and environment. Then try to pepper your resume, cover letter and interview with references to these key concepts and buzzwords. (Subtlety is the key here, so don’t overdo it).
4. Be a passive candidate, not an active one. This was one of the pieces of advice that surprised me most. We have had it drummed into our heads that we should be active, enthusiastic and eager in seeking new job opportunities. Not exactly so, say the experts. According to the headhunter I spoke with, a passive candidate is one who is currently employed or in school, and while enthusiastic, has other options available and is not “chomping at the bit.” By contrast, an active candidate is out of the work force, unemployed, or desperate for a new job. When a candidate is too eager to jump ship or doesn’t have any other comparable options, it makes her look less desirable to an employer. You are better off playing it cool and portraying yourself as “always interested in new opportunities,” rather than coming off as an eager beaver with no Plan B.
5. Don’t talk about hours or work/life balance at the interview. If you do land an interview with a top-notch financial services or law firm, don’t fall into the trap of asking your interviewer if he or she works long hours, works on weekends, or has a good “work/life balance.” While these issues are no doubt important, in a competitive environment, you don’t want to come off as having an aversion to hard work. Also, although your interviewer’s hours may well be terrible, he or she probably won’t admit it at this stage, when people at the company are trying to recruit you and the incentive to mislead you is high. Wait until after you have the offer to ask these questions, and then consider the answers carefully.
6. Let your personality shine. In the interview, don’t be tethered to reciting dry facts about your work history that can be learned by reading your resume. Instead, branch out, and look for common ground with the interviewer. Discuss hobbies, interests, recent vacations or your hometown. In most cases, you wouldn’t have gotten the interview if you were not qualified for the job. At this point, it’s important to demonstrate that you are the kind of interesting/funny/cool person that they would not mind working late nights with. As long as you maintain a professional demeanor, there is no need to talk exclusively about business, but take your cues from your interviewer.
7. Don’t talk about money too early in the interview. This was another deal-breaker identified by the headhunter and recruiter I spoke with. While salary is clearly an important factor, raise it too early and you risk being perceived as presumptuous and “only in it for the money.” If the compensation package is not known to you in advance, wait until the third or final round of interviewing to raise it. Then, only raise it with the managing partner or the person with authority to make you an offer. Make sure to play up all of your personal strengths and explain how you would be an asset to the company before getting down to dollars and cents.
8. If you are working with a recruiter, don’t try to cut him or her out. If you can, do all of the research on your own, and go straight to the source to find a new job. That being said, recruiters can be very helpful in finding you opportunities in a niche industry and putting you in touch with the right people. However, when talk turns to compensation, people sometimes think that they can cut the recruiter out of the deal and sweeten their own offer. Don’t be tempted. It won’t work, because the company has agreements to prevent this. Furthermore, you will burn your bridges with the recruiter and be blackballed by the company, which will think you are sneaky and dishonest. It’s not worth it.
9. You can always negotiate. Studies show that women are more hesitant to negotiate compensation and more likely accept the first offer made to them. If there is some flexibility in your salary or bonus, don’t be afraid to negotiate the best deal you can. People will respect you for it. If the salary is fixed, try to negotiate benefits like relocation expenses or signing bonuses, which are usually discretionary. You can also negotiate non-monetary compensation, like placement in a sought-after department, work with a particular manager or partner, or international projects.
10. Leverage your other offers. Finally, don’t be afraid to let the company know that you have other offers or alternatives available to you. This is a one-two punch. First, it lets employers know that you are a hot commodity and that they should be wooing you, not the other way around. Two, it encourages employers to get back to you quickly, and allows you to accelerate negotiations when you have other time-sensitive offers to consider. If you can slip this information into the final interview, without seeming arrogant about it, it will improve your bargaining position.

With these ten tips in hand, you should be well on your way to identifying the best job for you in finance or law, clinching an interview and sealing the deal. Good luck!