The REAL Costs of A Resume

I don't by any means pretend to be a mathematician, but I will say, the numbers can speak volumes when making viable decisions that can make big differences. I recognized this as I was contemplating the true cost of a resume.

While sitting down with my trusty calculator and using some base knowledge, my goal was to see if it's really worth it for a job seeker to plunk down $300 or more for a professionally written resume. I'm just as conservative as the next guy when it comes to wanting to save a few bucks, especially during these hard times. So, allow me to share with you what I came up with based on some data and assumptions.

First, it's important to iterate that even before the recession, Human Resources people will testify that most job candidates blow their first interview, and typically land a job on their second or third attempt. Another startling piece is that the average resume lands on the "don't call" pile from 90-95% of the time. Which means that if you have an average resume and apply for 10 jobs per week, the odds are that you won't get an interview until your ninth week, at which point, anxiety and nervousness are working against you and there is a good chance to blow the interview...taking you about another nine weeks for the next interview, using the same statistical odds. Now suppose you blow the second interview approximately 18 weeks after your job search commenced, you are now looking at possibly another 9 weeks, totaling 27 weeks into the job search. No surprise that studies have revealed that a job search for excutives and professionals can run anywhere between 18 and 27 weeks.

So from this statistical data, it's clear that the key is to get the resume in the upper 5% to 10% that achieves above average results. Let's now assume that your resume is not only effective 5% of the time, but 50% of the time. If you go jobbing with that resume and apply for 10 jobs in your first week and your resume is only 50% effective in generating interviews, the odds are that you will have interviews by the end of your third week (allowing a week between resume arrival and interview date) with the extension of at least one job offer. From the previous information, your resume has now enabled you to earn an additional fifteen weeks salary, not to mention saving you from a great deal of depression and anxiety.

Most job seekers don't stop to consider what it's really costing them to not get interviewed, but the numbers speak again. Assuming a $50,000 a year earner. By dividing this amount into 52, you will get your gross weekly salary apart from benefits.

$50,000 / 52 = $961.53 per week and in an 18 week job search costs $17,307.69.

Now, assume you cut your 18 week job search in half at best during these hard times, you have just saved, $8653.84. In other words, your new resume just earned you a significant amount of money.

You can use the same 52 week formula for any amount of wages you are seeking, either way, it's about time and getting your resume in the "call" pile. My findings from this little exercise convinces me that a professionally prepared resume just might be worth the investment.

An average resume can look like all the rest --- try picking Fred out from a group of Penguins! Put a bow on Fred, and he is easier to find.