16 October 2018 FT — Articles to Read

16 October 2018


Question: According to MSN: Lifestyle, what are 27 Common Lies People Put on their resumes?


US economy’s urban-rural split widens – Pg. 2

–        A stark geographical divide in the US economy has been revealed by research that shows four-fifths of rural counties have fewer businesses than they did before the financial crisis, even as big cities prosper

–        By 2016, fewer than a quarter of US counties had managed to replace all the businesses they lost to the recession

–        …reflects growing economic rewards from population with high educational achievement,…

–        The total number of Americans living in “distressed” postal areas fell between the 2007-2011 and 2012-2016 periods, yet the number of rural Americans living in a distressed zip code increased by almost 1m in the same timeframe,…

–        Distressed areas…have a local population with low median income, poorer employment, high levels of poverty and low educational achievement and business formation

–        Of the 50m Americans in distressed zip codes, 22.7m lived in rural areas, 17.9m lived in urban areas, and 9.4m in suburban ones


BofA’s profit clouded by growth doubts – Pg. 12

–        BoA’s struggling investment bank and fears over revenue growth overshadowed record quarterly profits at the second-largest US lender

–        Investment banking fees fell 18% compared with a 16% decline in the industry’s fee pool

–        The consumer bank’s performance, along with loan reserve releases, falling expenses, a lower tax rate and a 5% drop in the share count pushed earnings per share up 43% from the year before…

–        Rising interest rates should support bank revenue but, in the third quarter at BofA and elsewhere, higher rates had a bigger effect on banks’ deposit funding costs than on their loan yields (Prof Note: This is a resultant of the flat yield curve)


Answer: (1) Exaggerated Education (Prof Note: I have seen several high profile individuals terminated for this); (2) Employment Dates (Prof Note: I recommend only place years on a resume.  Smooths things out and is accurate); (3) Technical Abilities (Prof Note: This is tough as different people have different perceptions.  I once interviewed an individual that had, “cover call” experience on their resume.  When I asked about it the response was (no joke), “It sounded good.”); (4) Falsified jobs (Prof Note: Perhaps I need to remove “Federal Reserve Chairperson” from my resume?!); (5) Foreign Language Fluency; (6) Grade Point Average (Prof Note: If you have an issue, refuse to provide it.  Ask your university for a written letter demonstrating the classes successfully passed.); (7) Previous Titles (Prof Note: Titles matter.  One of the many benefits of working at Clark Construction was it was my break out role from “Analyst”, i.e. my title no longer had “Analyst” in it.); (8) Awards; (9) Graduation Year (Prof Note: The year does not need to be specified on your resume.  I know older individuals worry that it will date them); (10) Promotions; (11) Salary (Prof Note: I personally object to new employers learning past salaries.  A position and person are worth the amount they are worth.  I have always felt past salaries were an anchor to achieving fair worth.); (12) Job Duties; (13) Volunteer work (Prof Note: I am finding that philanthropic activities are being asked more and more); (14) Current Location (Prof Note: What is “current location” in today’s society?); (15) Degree (Prof Note: Falsifying degree achievement is an insult to all of us that have achieved the degree!); (16) College Major (Prof Note: My MAIT degree is technically MA International Transactions.  I use to carry on my resume as International “Trade” as I felt it was more descriptive.  It was changed back to “Transactions” when I realized, about 15 years ago, that I was technically being inaccurate.); (17) College Minor; (18) References (Prof Note: I cannot stand when I am called, happens rarely, for a reference and have not been notified by the individual.  In one case, as I always try and support students, I referenced the student from the wrong university and it was obvious to the reference person I did not remember the individual.); (19) Certifications (Prof Note: Be careful, the time for an employer to learn you actually are not trained in CPR is not when your boss is horizontal from a heart attack); (20) Reasons for leaving; (21) Criminal Records (Prof Note: I struggle with this question.  I struggle as I thought jail time was the settlement with society for one’s past deeds.  The continued title of “Criminal” carries a negative stigma thus harming an individual whose debt to society has been paid.); (22) Professional Licenses (Prof Note: I remember responding to an attorney, years ago, that had sent me a letter, “Are you aware that presenting yourself as an attorney, when the quality of this letter clearly indicates that you are not, is a crime?!”.  The attorney’s reaction was priceless and angry! J); (23) Exaggerated Results (Prof Note: Are commas really that important on financial results?!); (24) Military Record (Prof Note: I am so sensitive to this that when I wear military stamped clothing, e.g. USMC hoodie that I was given by a dear friend, and am mistaken as former military I respond, “I was not honoured with military service.”  Now, the Willy and I will take all the waves and honks we can get! J); (25) College (Prof Note: I once worked with an individual that constantly talked of their time at Harvard.  Turned out it was a two week seminar); (26) Interest and Hobbies; (27) Leadership