Financial Samurai

Slicing Through Money's Mysteries

Examples Of Good Resumes That Get Jobs

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With the coronavirus pandemic causing local economies to shelter-in-place for months, the unemployment level in America has skyrocketed. There are over 40 million Americans unemployed in 2020 and many of these jobs are not coming back. Thus, having a good resume is crucial for getting a job. Below you’ll find many examples of good resumes to help get your own in top shape.

Hiring Seasons

In normal times, the first half of the year is when ideally all hiring shall be done. This is because:

1) The best available people are still available. There is a bias against people looking in the 3rd and 4th quarter because rightly or wrongly, companies may wonder what’s wrong with you for not having found something earlier.

2) Companies need to spend their budgets while they are still available. There’s no time like the present.

3) Hiring an employee at the start of the year gets the most out of the employee, especially if there is a guaranteed compensation package.

If you find yourself looking for a job in the second half of the year, it’s important to hustle a little more or prepare for activity to pick up in the spring.

Don’t give up hope. Use this time to plan more thoroughly. And utilize the examples of good resumes below to improve your own, especially as economies start opening up.

I’ve seen over 10,000 resumes in my 13-year career in finance and hopefully this article can help you build an excellent resume. An excellent resume should be standard, not the exception.



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Is Your Job At Risk? How To Protect Yourself From A Mass Layoff

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One of the most curious things about the stock market is that it’s slow to rise and FAST to fall. This phenomenon simply points to the human condition of being cautiously optimistic when times are good. And then people absolutely freak the freak out when times are not! Scared that your job is at risk? Don’t panic. By the end of this post you will know how to protect yourself from a mass layoff.

Mass Layoffs Hurt Millions

The government forced shutdowns in 2020 due to the coronavirus has led to many a company having a RIF through a mass layoff. RIF stands for reduction in force.

Unemployment levels in the US and around the world skyrocketed. Over 44 million Americans filed for unemployment as a result of the lockdowns. Take a look at the chart below.

mass layoff unemployment

Lucky employees have managed to escape a mass layoff, but still fear losing their jobs. Others, have been temporarily furloughed and anxiously await news on if and when they can return to work.

Laid Off Versus Furloughed

Getting furloughed is different from getting laid off. When an employee is furloughed, they must take an unpaid leave of absence. The leave of absence may be short-term or long-term. It all depends on the employer and the state of its financial hardship.

However, furloughed employees can typically retain employee sponsored health insurance and retirement benefits. In addition, furloughed employees are eligible to receive unemployment benefits.

In contrast, when an employee is laid off they lose all ties to the employer. They are not able to return to their jobs in the future. They also lose employer sponsored benefits as well. However, some benefits may still be available for a short-term period after their last day of employment.

Employees who are able to negotiate a severance package, leave with the most. They can receive severance money, retain health insurance for a short time, collect unemployment, get paid unused vacation days, get paid deferred compensation, etc.

Managers Overreact On The Way Down

Hiring managers are just as bad as investors. Not only do they tend to over-hire on the way up because it’s not their money they’re spending, but they also tend to over-fire on the way down because it’s not their lives they’re hurting.

They selfishly think that the more people they let go, the better their chances are of keeping their own jobs! Stock market corrections of 10-20% are enough to make managers wig out, even if the markets are still up 50% since the day they started.



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States With The Highest And Lowest Unemployment Benefits

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Besides dying, one of the worst things to come out of the coronavirus pandemic is the massive number of Americans losing their jobs. I estimate there will be over 50 million unemployed out of our ~160 million working population by the end of summer if lockdowns are not lifted beforehand.

On the flip side, the federal government has significantly boosted unemployment benefits by providing an additional $600/week through the week of July 31, 2020.

Before the CARES Act was passed, the typical maximum unemployment benefit duration was 26 weeks provided by the state. With the expanded unemployment benefits, the program runs through 12/31/2020.

Although having millions of people out of work is terrible, the optimist would say that means millions of people are benefitting from enhanced unemployment benefits during a difficult time.

Let’s take a look at the states with the highest and lowest unemployment benefits. I’ll then add on the temporary $600/week to see what the total maximum unemployment benefit a person could get.



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How Millionaires Will Spend Their Coronavirus Stimulus Checks

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If you want another reason why having a high net worth is better than having a high income, all you’ve got to do is look at who gets stimulus checks from the new CARES Act.

If your latest tax return shows an adjusted gross income of under $75,000 for single filers or $150,000 for joint filers, you get a $1,200 or $2,400 stimulus check. With each child, you get an additional $500. Once you make over $98,000 as an individual without children, and $198,000 as a couple without children, you no longer get any benefits.

To make between $75,000 – $150,000 a year in investment income at a 4% rate of return requires having a portfolio of $1,875,000 – $3,750,000. At a 3% rate of return or withdrawal rate requires having a portfolio of $2,500,000 – $5,000,000. Therefore, plenty of millionaires who are retired or semi-retired will be eligible for stimulus checks.

Yes, many of these people are the same millionaires who are also getting healthcare subsidies under the Affordable Care Act. Even though the ACA is supposed to help make healthcare affordable to the middle class and poorest of Americans, I guess you can’t blame these millionaires for legitimately taking advantage of the system.

Based on all these benefits offered by the government, if you want to be a millionaire who lives the best lifestyle while also getting continuous maximum government benefits, then strive to have a net worth between $2,000,000 – $5,000,000.

Out of curiosity, I asked several millionaire stimulus check receivers about what they plan to do once the free money arrives. Here are their profiles and what they had to say.



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How Much Money Do The Top Income Earners Make?

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Updated on June 3, 2020

Americans are rich by world standards. With an average GDP per capita income of ~$60,000 for 2020, America consistently ranks in the Top 20 richest countries in the world. Many of the world’s top income earners live right here in our great country.

Other rich countries that have a higher GDP per capita than America include Liechtenstein ($139K), Qatar, Monaco, Macau, Luxembourg, Bermuda, Singapore, Isle of Man, Brunei, Ireland, Norway, Falkland Islands, UAB, S. Maarten, Kuwait, and Gibraltar. Countries with similar GDP per capita to America include Hong Kong, Switzerland, and Saudi Arabia.

If at birth, you had the mental capacity to choose where you’d like to live for most of your life, living in a top 20 richest country will more than likely help you become a top income earner as well.

Even if you end up being the most mediocre producer, you are still miles ahead of much of the world. Too bad many of us can’t pick where we want to grow up and earn a living. As such, it’s nice to understand how we compare against the rest of the world to give us some perspective.

Let’s take a look at what the top income earners make in America.



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Who Makes A Million Dollars A Year? Exploring The Top 0.1% Income Earners

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If you want to get rich, you might as well focus on joining industries that pay very well. But there’s more to just joining a well-paying industry to get you to a million dollar income. You’ve also got to perform at a high level, survive cutthroat competition, and receive lots of luck along the way.

Corporate politics can be brutal on your climb to the top of the pyramid. Oftentimes, it’s those who’ve been able to successfully sell themselves internally who achieve the greatest rewards.

During my career in investment banking, I was too defiant. Despite getting promoted quickly in my 20s, I stalled in my 30s because I didn’t want to relocate to grind cities like New York or Hong Kong. Nor could I pretend to like enough people who could push me forward. In the end, I decided to see what I could do entirely with my own fingers.

We know that an American top 1% income starts at around $450,000 in 2020. We also know that a top 1% income varies by age as well. For those interested in making a top 0.1% income, let’s take a look at some career profiles. 



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