Introduction What you need How to Apply Training General issues Road to the Job Market Jean Flemming 1 Giulia Pavan 1 Valerio Scalone 2 1 Universit` a di Roma “Tor Vergata” & EIEF 2 LUISS & HEC Montr´ eal LUISS, May 25 th , 2016
Introduction What you need How to Apply Training General issues What is the Job Market? • International academic market for new Ph.Ds and Post-Docs. 3 steps: • Applications (jobs advertised on some web-sites) • Interviews (during three main conferences, departments organize interviews in hotels). • Fly-out (department visit, seminar+interviews) • Research, teaching, and “industry” jobs all advertise on several websites. • Efficient way to “clear the market”: demand side - employers, supply side - candidates. 2
Introduction What you need How to Apply Training General issues Types of Jobs Advertised 3
Introduction What you need How to Apply Training General issues Types of Jobs Advertised • Outside academia there are few interesting options that still interview at the ASSAs. • Think-Thank/Private research center like Rand and Mathematica. Keep doing research oriented type of work but give teaching. • In the last few years there is a increasing number of tech firms looking for PhD in economics. Amazon, Uber, Ebay, Facebook, Pandora, Microsoft and AirB&B were looking for economist. Most of them are looking for people that can contribute to the bottom line, therefore the time for research maybe limited. But you would have access to awesome data and likely to work on pretty cool stuff. • Consulting is a more traditional outside option for PhDs in econ. Pros - good remuneration, a lot of different project that could be interesting, faster pace than academia, nice locations. Cons - less flexibility in your work (when and where to work), likely to give up research. My experience: Compass-lexecon interviewed me outside the 4 market but advertised on the same web-sites.
Introduction What you need How to Apply Training General issues Timeline Expected Defense Date: Spring 2017 1. Spring 2016: • Rough Draft of Job Market Paper (JMP) • Confirm references 2. Summer 2016: • Advisor’s approval to go on the market • Present paper at seminars/conferences • Set up website 3. September-October 2016: • Register to the ASSA meeting (hotel registration) • Draft of JMP on website • Start looking for job ads with early deadlines 5
Introduction What you need How to Apply Training General issues Timeline (cont’d) 4. October-November 2016: Apply 5. December 2016 • Invitations for Interviews • Mock interview • Interviews at SAEe 6. Early January 2017: Interviews at ASSA & RES meetings 7. January/February 2017: Invitations for fly outs 8. February/March 2017: Offers are made 6
Introduction What you need How to Apply Training General issues The Job Market Paper • The most important requirement to go on the JM • Signal of quality as future researcher • Almost always single-authored • Get as much feedback as possible before the Fall of JM year • Abstract and Introduction are most important for November, but should be well-polished by the end of the year • No typos in abstract and intro as well as CV, CL. Hire a proof-reader if needed. 7
Introduction What you need How to Apply Training General issues CV • CV is another important part of the application package • Can find templates online - CV is formatted specifically for the market 8
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Introduction What you need How to Apply Training General issues Letters of Recommendation • Typically need 3 letters • Seniority matters, but is not the only important thing • Think of potential recommenders early - they need to know you and your work well • Ask professors if they will be willing to write a letter for you well in advance 10
Introduction What you need How to Apply Training General issues Website • You need a personal website (you need a picture!) • Google sites and other free providers make it easy • Best way to keep your papers and CV up to date • Ask your PhD program to update its student page and to link your website • Makes it easier for employers to find you • Examples: • Jean’s webpage • Giulia’s webpage • Valerio’s webpage 11
Introduction What you need How to Apply Training General issues Cover letters • Short (200-250 words) letter, rigid structure and layout • Goals: introduce the CV, stress aspects not valued in your CV • Structure: ideally, no more than four paragraphs 1. specifies what you are applying for and how you found out about that opportunity 2. skills and qualifications: you are the right person for that position! (read carefully the announcement, identify the requirements and see how your skills match those required) 3. explain why you want this job: you can make a genuine contribution to the recruiter, while simultaneously deriving satisfaction from your work 4. mention whether you have enclosed any documents accompanying the letter, and your availability for interviews (which conference you will attend). • Tip! create a modular cover letter, with different paragraph that you can put in and out depending from the school. Prepare also Research statement, teaching statement, etc. • minimize the number of times you mention the recruiter. 12
Introduction What you need How to Apply Training General issues Web sites • Almost all vacancies are advertised on several websites • 2 major sites: www.econjobmarket.org and the AEA’s Job Openings for Economists (JOE) • Easy way to apply to many jobs (typical JMC applies to ∼ 100) • Consider other two clearing house AcademicsJobsOnline and Interfolio and job posting on inomics.com. 13
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Introduction What you need How to Apply Training General issues 15
Introduction What you need How to Apply Training General issues Web sites JOE and econjobmarket allow you to create a profile: • upload cv, cover letters and jmp • ask your referee to upload their letter • if the application is through these web-site → • Directly upload documents (pay attention to the Cover letter!) • You do not need to remind your referee • if the application is with an external link • You have to adapt to the specific procedure. • Remind your recommenders of deadlines! • Tip! Prepare a sheet to share with your advisor and recommenders with: Type of position, University/institution/firm, deadline, what they should do, url of the job posting (you will forget them)! 16
Introduction What you need How to Apply Training General issues Mock interview • Spiel • Generic idea of what you do in your paper (1-2 minutes) • Let me give you more details... (5 minutes) • Further details (in case they let you talk more) • Ask faculty member to interview you. • Which question? • Research • Teaching • Personal (never happened to me) • Do you have any question for us? • Notice: mock interviews are useful not only for first-selection interviews but also for the department visit. 17
Introduction What you need How to Apply Training General issues Practice Job Talk (seminar during the visit) • Practice as many times as possible • Do a practice talk for colleagues, advisors, anyone who will listen • In most cases, should last 90 minutes with questions • Make a list of questions and answers so you don’t get caught off guard • Appendix slides are your friend 18
Introduction What you need How to Apply Training General issues In case you are particularly interested in Central Banks • Many Central Banks hire on the job market. The positions generally encompass an amount of research load and policy load, which can be split (50 − 50% or 70 − 30% and so forth); • In case Central Banks are among your first choices in terms of career path, signalling it in the application can be a good strategy; • During the interviews with the central banks recruiters, it is important to stress your interest for the policy work, your availability and your willingness to be a team player; (adaptability in terms of research topics can be considered an asset.) • Try to highlight how your quantitative tools can turn useful in the daily policy work and show that your research interests broadly overlap with the topics which are relevant for CBs. 19
Introduction What you need How to Apply Training General issues • The job market is not a race against the other candidates, it is the opportunity to find a good match: • Don’t shoot too wide for the sake of shooting, you will have a low conversion rate • Don’t panic in December or January, do not see your colleagues as enemies • Usually, at the end of the 3rd year it’s early for a large investment in the JM, 4th year with a good paper gives some chance, although you will discount an institution bias • American graduate terminate in 4-6 years (avg. age of a JM candidate is 31) • Post docs (abroad) can be an option • Job market is an investment both in terms of time and money (conferences participation), make sure you have a way to funding it and your supervisor support you. 20
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