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Job Outlook on Treasury Management March 2003 I receive questions daily from treasury management candidates and employers who are curious about marketplace trends. I tell them that based on my experience as a national banking recruiter, there has been a shift in the needs of both candidates and employers over the past few years. This shift can be attributed to the gradual continuance of bank mergers, as well as the rate of unemployment, which together have created an interesting job market for job seekers and employers. To elaborate on these trends, listed below are answers to the most commonly asked questions. Most Common Job Seeker Questions
Are there a lot of job opportunities right now in treasury management sales?
That depends on your flexibility in relocating. If you are in a position to expand your search to a large, geographic region, your chances of finding a new position are much greater. When a major bank goes through a downsizing process, that particular city or region is flooded with candidates. However, quality, experienced sales candidates are highly sought after, and treasury management sales managers are usually quite willing to take a look at a resume of a top professional, whether they have an opening or not. Often times, positions will even be created for good candidates who are willing to relocate.
What resume advice do you have for treasury management sales candidates?
Well written resumes are essential. Employers look for skills that set that candidate apart. This small, yet vital step in the job search process is often overlooked, but it is the key to getting interviews.
To set yourself apart from "all the rest" include accomplishments in your resume. For example, if you have implemented a new program, increased revenue, surpassed your sales goal, revamped a process, or improved a treasury management product, make sure you include that in your resume. By demonstrating that you have gone above and beyond the call of duty, it will be clear to the employer that you are not just an average employee.
Elaborating on the extent of products that you have sold is also a good way to set yourself apart -- your resume is not going to get the attention it deserves by simply stating that you "sell treasury management products to corporations."
Last, be sure to highlight any awards or recognition that you have received. Do not be modest when writing a resume. This is your time to shine and set yourself apart!
What can I do to increase my chances of getting the job I want?
One of the most common mistakes candidates make in the job search process is not showing enough interest in the job during an interview. As a recruiter, I know that there are two main reasons for this -- nervousness and fear of seeming too eager. To alleviate any nerves, I always remind candidates that they are interviewing the potential employer just as much as the potential employer is interviewing them.
When employers interview someone for a job, they try to determine how excited the candidate is about the company and the job. I always encourage my candidates to end the interview by saying something like, "I really like this company and its culture. I would love the opportunity to become a sales rep and join your team."
This type of statement can make a tremendous difference. All employers want enthusiastic and positive employees who are looking forward to coming to work. Ending an interview with this approach is not indicating eagerness but rather genuine excitement.
Most Common Employer Questions
What is an appropriate treasury management sales salary?
This question can have many different answers because of the number of factors involved. Before I answer this question, I ask an employer several questions in return:
Depending on the answers to these questions, an annual base salary can be anywhere from $65,000 - $120,000 (a significant range). Most often, I recruit for sales positions in the range of $75,000-$90,000. A person with a CCM, calling on large corporate customers, with five or more years of calling experience, might expect $80,000, whereas a person with no CCM, calling on small companies, with two years experience, might expect $65,000.
Salary surveys for treasury management positions do exist, but I would recommend using them as a starting point and then factor in the points mentioned above. Keep in mind, too, that a good candidate will shoot for at least a 10-20 percent increase in base salary when changing companies. To obtain and retain quality employees, I encourage employers to make an initial offer attractive enough to make the employee excited about joining the company.
Are there many candidates looking to make a move right now?
Due to bank mergers and the downsizing that often goes along with them, candidates are increasingly interested in exploring new opportunities. Even if a candidate has not been downsized, she may feel less loyalty to the company because her colleagues have been forced to leave. So, just as bank mergers create a larger pool of available candidates, they also create a larger pool of much more cautious candidates.
While unemployment has increased over the last few years, there are also many employed treasury management professionals who are willing to entertain new and challenging job opportunities. I have noticed that job seekers, as a majority, are more interested in larger, national banks than in community or regional banks, due to the takeover frenzy of the 90s. It is for this reason that employers need to really "sell" their organizational culture and the opportunities that exist there. That being said, large banks are by no means immune to mergers and downsizing either, so every organization has to highlight its culture and positive selling points.
What does it take to hire and retain good candidates?
Job seekers want to work for a company that truly needs someone with their skills. A well thought-out position description is the key to making sure this will happen. Many employers do not have a formal job description when they actively begin the recruiting process. The best candidates ask many questions about job openings, and rightly so. As a recruiter, the more information I have regarding the position and the company, the more effectively I will recruit candidates who are right for the job.
Visit Professional Crossroads for similar articles.
Acsys Inc. is a provider of professional staffing to the accounting and finance industry. Specializing in entry-level to executive placement, Acsys offers both interim and long-term solutions to Fortune 500, middle-market and emerging growth companies. Acsys' Professional Crossroads column, produced by career counseling experts, aims to assist accounting and finance professionals with critical career decisions. If you have a topic related to career transitions that you'd like Acsys to address, let us know at editor@smartpros.com. |
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