You can multiply the openings
you uncover by 10 times or more.

t's important to understand how the published job market works. The total market consists of employers who make public their openings... and those who don't. There are five segments to the published market as illustrated in the pie chart below. In the discussion that follows, we will focus on how you can uncover the most number of openings suitable for you... and maximize your activity in this part of the marketplace.

Understand how many jobs exist at your income level

The Internal Revenue Service tells us that 3% of all Americans report income above $150,000. That means 4.65 million jobs exist at this income and above. But on average, they open up only once every 4 years... because this is how often people change jobs. So, in any given week, there are about 21,000 jobs that become available at this income level.

But these are spread among all 50 states, over 200 industries... and all occupations. So, when executives look for a job at $150,000 or $250,000 or more... what are their chances?

How many jobs are out there in the locations where they live... in their career field... and their industries of interest? Relatively few at any one moment. If you are seeking from $50,000 to $100,000... or $101,000 to $150,000, you will experience a similar challenge. Again, the problem is that the jobs are in all 50 states, 200+ industries and in all professions.

The point you need to understand here is, as a general rule, there are a lot fewer jobs out there than you might think. Uncovering them... and getting considered for them... can be a major challenge. There are contributing factors. The Internet attracts millions to the same popular websites... causing 200 or 300 people to apply for the same opening. And, the "bad" little secret of the Internet is that many of the published jobs... are repeated 10 and 12 times at different websites... and listed long after the jobs are filled. That creates an illusion of far more published openings being out there than the true reality.

How many jobs are out there?... all U.S. jobs by income*

up to $50,000 — 74 %
51,000-75,000 —11 %
76,000-100,000 —%
101,000-200,000 —%
201,000-250,000 —1 %
251,000+ —1 %

* Data from the IRS

How the published job market works

When employers decide to hire someone... there is an event that leads to their decision. Typically, someone has retired, quit or been separated. Turnover leads to over 95% of all jobs opening up.

Now once that decision has been made to fill a job, what do employers do first? Well, they look within their company... and they look at candidates on file in their recruiting database. If they can't fill a job, what do employers do next? Some consider referrals and those who network their executives. If that doesn't work, they need to go public and see if they can fill their job openings.

This is where the top half of the pie chart on page 69 comes in... "the published job market." This is also where 99% of all job hunters compete. The bottom half is "the unpublished job market," which we will discuss later.

Let's first talk about the published openings and the employer websites. Over 300,000 employers now post their openings. You can also find openings in 2,000 newspapers, 2,100 magazines and over 1,500 job boards.

Newspapers have declined rapidly, but in many instances can still be a good source for lower and mid-level openings for professionals. Employer websites represent the fastest growing means of recruiting staff. There are more than 300,000 employers who recruit this way... and many of them recruit through their website exclusively. The sole exception may be when they go to an executive recruiter for a very senior executive. So, if you've pinpointed your best prospects, check out their websites.

Trade magazines are a worthwhile source for those seeking middle level and upper mid-level openings. Many director and vice president openings, where industry knowledge or experience is important, can still be found in these publications.

In terms of job boards, Monster, Career Builder and Hot Jobs are best known here, but there are many others that might help you. Job boards have replaced newspapers as the largest source for openings. Staffing industry sources now claim that upwards of 40,000 job boards now exist. Our research staff estimates that about 1,500 have some significance. On a broader basis, these can be broken into the following categories:

• Premier job boards
  
• Manager and executive boards
  
• Human resources boards
  
• Finance & accounting boards
  
• Sales & marketing boards
  
• Engineering boards
  
• Diversity boards
  
• Industry boards
  
• Military boards
  
• Scientific boards
  
• Recent grad boards and state boards

The problem with all the job boards is simple. Once you get past the 200 major boards, most will have only a few listings suitable for you. Even on the largest boards, a person can waste an enormous amount of time, only to find out that there are many duplicate listings, and some appear over and over again for months. By the way, whenever you respond to any type of opening, if you respond by email, also send a response by first-class mail.

Important privacy issues

Once your resume is posted on any number of job boards, you have no idea who may have access to your material. Almost all major job boards sell access to their resume databases. Both employers and recruiters utilize these services as part of their search for candidates. Since every word in your resume is scannable, anyone who uses their services might uncover your resume. This is just one more reason for using short resumes, materials that don't reveal anything unnecessary... on the Internet.

Understanding the aggregators

Aggregators are sites that go out and "spider" other sites... and subsequently list all openings in one place. They by no means represent the entire published market, but these sites make it much more convenient for people to find what they want and respond accordingly.

The major aggregators include: indeed.com, simplyhired.com, advertisedjobmarket.com, and ladders.com. Some sites are free and others charge a fee to subscribe to their service. Currently they claim to aggregate openings from thousands of sources, but none come close to representing the entire published market.

Be aware, the more successful these sites become—the more job seekers compete with you. These sites also must grapple with the problems of all job boards relative to duplicate job listings, false listings and jobs that keep reappearing on a regular basis. In an era of identify theft, you don't want to let complete information fall into the wrong hands. This is another reason for using one-page resumes as your introductory material, and not revealing your complete story.

Over the years some less than legitimate recruiting agencies have been notorious for running ads to simply collect resumes. Then, they try to shop them to employers for a placement commission. Unfortunately, too many people have been burned when their resume reaches their current employer.
Too many online ads are posted which sound like an attractive position, but which subsequently result in a response that asks you to fill out an on-line profile that seeks disclosure of a substantial amount of private information. This is partially caused by the "dehumanization" of the recruiting process in our Internet era. But, be assured, there are others who are collecting this information for different purposes. How do you tell which ads are real? Look for openings that really target what an employer is looking for.

Expanding openings you respond to

One way to increase your number of opportunities is to understand the process of upgrading or downgrading ads. For example, a company advertising a Vice President position may be willing to hire an Assistant Vice President or Director, who could move up to Vice President within a year. After all, it isn't so much the title they are after as the skills and talent. That's an example of downgrading the opportunity you see... and encouraging you to respond to situations you might have otherwise bypassed.

By the same token, a firm advertising for a Plant Manager might be persuaded to hire a VP of Manufacturing, provided someone could persuade them such a move would be cost efficient and give added capabilities. That's an upgrade.

Advertised openings can also be used as signals of private openings in other areas of the company. This is called sidegrading.

If, for instance, you see a company hiring a number of salespeople, that's a fairly reliable indicator that they are also hiring people in sales administration, production and other areas.

This approach can be effective for people at lower levels who see openings for senior level positions. Write to the "functional chief" when upgrading, downgrading or sidegrading. HR will typically be the last to know of an emerging job (except in HR).

Compensate for lack of ideal credentials

Don't be restrictive when selecting ads. Employers rarely find the perfect candidate. Try to compensate for any shortfall on credentials through an expression of enthusiasm, or by explaining why you might be well qualified for other reasons. Let the employer know why you selected their ad.
For example:
... Your company is headquartered near my home.
... I recently read a positive article about your firm... your industry fascinates me.
... My cousin used to be with your company and said it was a great place to work.
... In a similar job I not only got results, but also came in ahead of schedule.

When you find the perfect ad

Did you ever see an ad and feel "that describes me exactly"? You should follow up on every excellent ad for which you are well qualified. Very few of your competitors will do this.

Keep in mind that using letters alone and following up can help your response rate. Employers who must sift through many resumes start by screening out non-qualifiers. And, since resumes provide more facts, they may work against you. For this reason, when answering ads of special interest, use a strong letter tailored to the requirements of the position.

Sometimes a handwritten note attached to your resume can be effective. This is advisable when there are relatively few points you wish to communicate.

Creative response approaches

One approach is to get additional information, beyond what was in the ad, and use it in your response. This can be achieved by reviewing product literature, websites, annual reports or newspaper articles. Demonstrating industry knowledge works better than anything. Another approach is to develop third-party contacts with employees in the company before responding. Easiest to befriend are sales and marketing managers, public relations staffers or top level executives. Then, you can consider mentioning their names in your correspondence.

Making the most of blind ads

Why do some employers run blind ads? Sometimes blind ads attract employees of competitors. On other occasions they are simply keeping a recruiting assignment private. Some are also meeting advertising contract obligations. Companies also run blind ads to prevent a large number of phone responses or to hide a less-than-attractive reputation. Certain recruiters advertise management positions in blind ads because they need to keep their assignments confidential.

You can't really be sure whether a blind ad represents a real opportunity, but you can't rule out the possibility. So, if you are not worried about the source of the ad, you should respond.

Some ads ask for earnings history. Above $100,000, avoid disclosing history or objectives. Deal with it in your interviews.

Be ready for application forms and tests

Avoid completing forms in an office. Never fill them out in a hurry, and always print neatly.
When references are requested, delay providing them, but say they will be supplied if mutual interest exists.
If a salary objective is requested leave it blank. Stating an objective will only limit your ability to negotiate.
When you are asked to list your career history, note brief information and refer people to your resume.
Always be sure to reflect an active personality. Mention hobbies, sports, civic and social interests, memberships, etc.
Questions along the line of "have you ever been arrested or denied credit," invite a careful response. It is illegal for employers to ask many of these types of questions.
When you return your application, always attach a cover letter that clearly restates your interest with enthusiasm.
Approach tests with care. Certain tests have fallen into the hands of many people, including your competitors.

Responding to openings is highly competitive...
so you must plan on answering a lot of ads.

Recapping this chapter. Who wouldn't want to uncover as many suitable openings as possible? Now you can uncover virtually the entire published market that's out there for you. But keep in mind that 200-300 others may also answer the most attractive ads, and that only 5% to 7% of all professionals find their new jobs by answering ads.

Quick action steps. Our Job Market Access Center provides access to 97% of all published openings, but if you don't have JMAC, identify the Internet sites you will use regularly, including job boards, aggregators, preferred newspapers, trade magazines and employer sites. Register and upload your resume where appropriate. Set up a system to stay organized.

"Knowledge is power." — Sir Francis Bacon

"A wise man does not trust all his eggs to one basket. — Cervantes