xxxx


home | interview questions | cv writing | interview technique

Wednesday, 12 March 2008

Preparing for interviews: Tips for Girls - Part One

1. Old Reliable. It's really important you feel comfortable at your interview, so it's usually best to go with a tried and tested outfit that buy something flashy and new that you'll spend two hours squirming in and fiddling with.

2. Don't rely on your mirror to decide to decide what you're wearing. Ask a friend - preferably another girl - if you look okay. Do the night before; if you leave it until the last minute you won't have time to change your outfit.

3. Beware of the cleavage. Granted, depending on what industry you're trying - and who your interviewer is - a bit of skin might get you noticed. But the chances are that it won't be in a good way! Always get a taller person to check how much you're exposing;' your v-neck jumper might not look low cut to you, but if you are greeted by a 6 foot - plus potential boss, beware : he might be getting quite an eyeful.

4. Beware the stilettos.Yes - they are sexy. But falling over on the slippery office floor isn't.

5. Less is more on the make-up & accessories. Too many of us confuse interviews with nights out. Mascara, SUBTLE foundation and a clear lip-gloss will usually suffice. Avoid bronzer if you possibly can - it'll look very different in 10am daylight to it's usually colour in a dingy club. And careful on the jewellery front - they won't want to hear you jangling before they see you and Accessorize aren't paying you to advertise for them.

Labels: , , , , , , ,

posted by Carl Malways at | 0 Comments Links to this post


home | interview questions | cv writing | interview technique

Budget 2008 – how to make a financial crisis seem dull

Today saw the announcement of Alistair Darling’s first budget. Not the most interesting budget because the Chancellor had little room to manoeuvre. On the one hand, the government is becoming increasingly unpopular which is stopping them from making any major steps towards raising taxes. On the other hand, the Treasury has overspent in previous years, which has reduced their ability to increase spending now the economy is entering a period of slower growth – and could really do with a little help from the Government.

One major announcement was that the 2008 GDP growth forecast for the UK was revised down by 0.25% to between 1.75% and 2.25% in today’s budget. This still looks like a very high estimate given that the survey of independent forecasts, as mentioned on page 169 of the Red Book, presents forecasts that range from between -0.1% to 2.1% and average of 1.7% in 2008. Independent forecasts are also in a period of being downwardly corrected by many banks and consultancies. As the year continues the Treasury forecasts are likely to look increasingly unrealistic.

Other measures that will impact upon work and working life:

• Income tax changes confirmed for April. Basic rate drops from 22 per cent to 20 per cent and the 10 per cent band is abolished.

• New charge on non-domiciled residents to be introduced from April and won’t change during this parliament, and next if Labour remain in power.

• Public sector employment has fallen in the past year; private sector employment risen.

• Around £60m to be spent over the next three years to encourage people to move into work and to move up the employment ladder.

• Spend of £10m over the next five years to create a new science fund for teachers in secondary schools.

• Increase in the amount of funding for adult training. Investment of £200m in poorly performing schools to try and improve GCSE grades by 2011.

• Long-term sick to attend “work capability assessments” from April 2010.

• New contract to help parents into work involving a commitment to find employment. Benefits for working families will be boosted.

• Child benefit will be up to £20 per week for the first child in 2009, a year earlier than planned. Child element of child tax credit to be raised by £50 above inflation a year.

• Tax-exempt limits on individual savings accounts increased to £7,200 a year for standard accounts and to £3,600 a year for cash accounts.

• Launch of a “savings gateway” in 2010 to encourage people to invest.

…and worst of all:

• Beer duty to increase by 4p per pint, wine up 14p a bottle, cider up 3p a bottle and spirits up 55p a bottle.

Increasing taxation on alcohol and large cars were the only areas the Chancellor could get away with any major increases in taxation. With all the fuss about “binge” drinking and anti-social behavior the Treasury has decided to take advantage of this situation, increasing the duty on alcohol by 6% above inflation. This has been welcomed by the British Medical Association, but has raised concerns from breweries that sales will fall and more pubs will continue to shut.

It is unlikely that the Chancellor was too worried about the health benefits of high taxes on alcohol, and was more interested in the raising revenue, but perhaps that’s just the cynical views of a man who likes a pint.

All in all this was an uneventful budget that will not be widely remembered. The key things to take from this are: the government are likely to have got their sums wrong; there have been some moves towards reducing child poverty; there has been some simplification of the tax system (a good thing but could go further); and if you smoke, drive a big car and like to drink then the government thinks you are a bad person and wants you to pay for it.

Labels: , , , , , , , , , , , ,

posted by Carl Malways at | 1 Comments Links to this post


home | interview questions | cv writing | interview technique

Thursday, 6 March 2008

Decisions decisions – the outlook for interest rates

Today saw the Bank of England keep interest rates on hold at 5.25 per cent, following a cut in February. Many people had been expecting this decision given that all the signs are pointing towards a period of higher inflation with both input and output prices rising, and commodity prices hitting record highs.

The economy also seems to be weather the storm for now, reducing the imperative for the Bank to cut rates immediately. Recent January retail sales figures as well as improvements in both the manufacturing and services purchase managers’ index indicated that the economy was still expanded, and was not in a period of universal suffering. Most significantly, the labour market has continued to perform well. Although wage growth has been squeezed in both the public and private sector, the number of jobs in the economy continues to grow, whilst the numbers of those claiming unemployment benefits continue to fall.

Despite a selection of “good news” stories, the outlook remains grim, and underlying problems are starting to show themselves. As a result, the primary reason why the Bank of England didn’t cut interest rates was because the short term outlook for inflation has increased, stifling the Banks ability to pre-empt the slow down in the UK economy. Inflationary pressures have been growing as a result of rising energy and food prices. These are clearly outside of the control of the Bank, which can now only hope for a good harvest, increased output from OPEC and a more stable international commodity market.

Higher prices not only reduce the ability of the Bank of England to cut interest rates, they also squeeze the consumer. With consumers seeing food prices rise by around 6 per cent over the past 12 months they have been forced to reduce their spending on other items. The crisis in the banking sector has seen lenders increase their margins which has resulted in mortgage repayment rates remaining high, despite the cuts in the base rate, resulting in mortgage interest repayments rising by over 16 per cent in the past 12 months. Household budgets have become increasingly stretched, and with few savings the consumer is likely to cut spending on non-essential goods over the rest of the year.

The housing market also continues to slow. According to both the Halifax and Nationwide house price indices prices have fallen in each of the past four months. Although this will not directly impact upon those who are not moving house, those that do move may face negative equity. The housing market has also allowed many to re-mortgage and release equity in their houses over the past two years which has helped to fund increases in spending. With falling house prices and less capital to lend, the ability to release equity is becoming increasingly difficult.

Another worrying sign is the revival of the spread between Libor and base rates. Libor indicates the interest rate that banks are willing to lend to one another. When there is a lack of credit or banks are worried about the risk of lending in the financial market, they will withdraw their credit, making it increasingly expensive to borrow money – increasing the Libor rate. The Libor spread had fallen steadily since the start of the year, but with expectations of further losses in the banking sector, it is once again increasing. This suggests that the worst is not yet over in the banking market, and it is far from getting back to a normal lending environment. As a result banks will continue to charge higher interest rates to both businesses and consumers.

So why hasn’t the Bank cut rates as rapidly as the Federal Reserve? There are two reasons for this. On the one hand the economy in the UK is not as bad as the US. The US economy has seen much larger losses in both the housing market and the financial sector. The economy appears to be shrinking and jobs are being lost. The other reason is that the Bank is far more tied to the inflation target of 2 per cent than the Federal Reserve which has a broader remit to maintain economic and inflationary stability.

Nevertheless the Bank will cut interest rates this year and next. Inflationary pressures are likely to limit interest rates in the next eight months. I would expect there to be just two 25bp cuts between now and September. However, as the economy slows and prices fall, and the rapid rise in prices at the end of last year fall out of the annual growth rate equation, the Bank will have the scope to cut interest rates more rapidly. I would expect further interest cuts at the end of the year, with perhaps even a 50bp cut before the start of 2009.

I remain positive that the UK won’t enter a recession in 2008, however, it will be a very tough year for many people and things will get worse before they get better. I would not be surprised to see unemployment start to rise in the next few months and the claimant count could well rise past one million, up from about 850,000 at the moment. With higher unemployment, wage growth is likely to remain low, and bonuses are unlikely to look particularly healthy. Expect plenty of disappointment in 2008, with fewer jobs about, lower wages and more stress its not going to be the nicest place to have a job – but it’ll be far better than having no job at all.

Labels: , , , , ,

posted by Carl Malways at | 0 Comments Links to this post