WANT a job with a successful multinational? You will face lots of competition. Two years ago Goldman Sachs received a quarter of a million applications from students and graduates. Those are not just daunting odds for jobhunters; they are a practical problem for companies. If a team of five Goldman human-resources staff, working 12 hours every day, including weekends, spent five minutes on each application, they would take nearly a year to complete the task of sifting through the pile.
Little wonder that most large firms use a computer program, or algorithm, when it comes to screening candidates seeking junior jobs. And that means applicants would benefit from knowing exactly what the algorithms are looking for.
Victoria McLean is a former banking headhunter and recruitment manager who set up a business called City CV, which helps job candidates with applications. She says the applicant-tracking systems (ATS) reject up to 75% of CVs, or résumés, before a human sees them. Such systems…Continue reading