6 Reasons You’re Struggling to Find a Job — And Why the Market Isn’t to Blame

You’ve polished your resume, updated your LinkedIn profile, and sent out dozens, maybe even hundreds, of applications.

Yet, the callbacks are few and far between. If you’re hunting for a role in finance, perhaps as a financial analyst, it can feel even more frustrating when others around you seem to be landing positions with relative ease.

The truth is, the problem isn’t necessarily the job market. Sure, economic factors play a role, but the bigger issue often lies in how you’re approaching your job search.

According to a recent poll conducted on The Edge Partnership’s LinkedIn page, a significant 62% of respondents believe that a lack of connections is one of the biggest barriers to finding a job.

While building a strong professional network is crucial, but it’s equally important to proactively engage with recruiters who specialise in your industry. Recruiters not only have access to job opportunities that may never make it to public job boards but can also provide valuable advice to help you tailor your profile and stand out to hiring managers.

Here’s why your efforts might be falling flat and how you can shift the odds in your favor.

1. The job market has changed

The current job market heavily favors candidates, with employers actively seeking talent. However, many companies still face significant challenges in filling open roles. According to recent data, 75% of employers worldwide are struggling to find qualified candidates — a figure that has more than doubled over the past decade.

This talent gap spans industries and companies of all sizes. There has also been a major shift. Research from Indeed highlights that only 17.8% of job postings now require a 4-year degree which means more effort is needed to widen the talent pools in a competitive market.

The definition of what it means to be “qualified” has now changed and you as a candidate would need to adapt to lookout for new opportunities.

2. Casting too wide a net

While it might seem logical to apply for as many roles as possible, especially in a competitive industry like finance, this approach can backfire. Sending generic resumes and cover letters to every job listing you find isn’t just inefficient.

For example, a candidate applying to be a financial analyst might neglect to tailor their application to emphasize their Excel modeling skills or their familiarity with financial regulations, crucial skills for the role.

Instead, they list vague accomplishments like “worked with data” or “provided financial insights,” which fail to demonstrate their fit for the job.

3. Be more targeted with your efforts

Instead of applying to 50 roles in a week with generic applications, invest your time in researching 10 companies where you’d genuinely like to work.

Dive deep into understanding their goals, values, and challenges. For instance, if a company specialises in ESG investments, emphasise your experience analysing ESG metrics or your passion for sustainable finance in your application.

Beyond targeting companies, working with recruiters can also amplify your efforts or applying on their job boards. Recruiters often have access to opportunities that aren’t publicly advertised and can provide insider insights into what specific companies are looking for in candidates.

4. Achievements > responsibilities

Job seekers often focus too much on their responsibilities in previous roles rather than their achievements. For instance, if you’ve been working in a back-office finance role, listing your duties, such as “processed financial transactions” or “prepared quarterly reports,” doesn’t paint a compelling picture of what you brought to the table.

Hiring managers want to know what makes you unique and how you’ve contributed to your previous teams’ success.

A better approach is to focus on quantifiable accomplishment. Did you create a financial model that helped your company secure a new client? These kinds of results show your impact and make you stand out from other applicants.

5. Persistence and adaptability

It’s easy to become discouraged after a series of rejections, but it’s important to remember that the job search process is rarely straightforward.

If you’ve been targeting a role in investment consulting but haven’t had any luck, consider whether there are similar positions with transferable skills that could serve as stepping stones.

For example, a role in financial planning or corporate treasury might not be your dream job, but it could help you build relevant skills and expand your professional network.

6. Consider contract roles too, not just full-time positions

In today’s job market, the traditional career path is evolving. The life cycle of jobs is shortening as industries and technologies rapidly advance, meaning skills can quickly become outdated.

To stay relevant, it’s no longer enough to rely solely on what you’ve already learned; you need to continually learn, unlearn, and relearn new skills.

If you’re only focused on securing full-time, permanent positions, you might be overlooking a valuable opportunity for growth. Contract roles, freelance positions, and temporary contracts offer flexibility and a chance to diversify your skillset.

These roles allow you to work on different projects, collaborate with various teams, and gain exposure to new industries and technologies — all of which can significantly enhance your resume.

Additionally, many contract roles have the potential to lead to full-time positions, as companies may want to transition successful temporary employees into permanent ones.

Rethinking the way you work

Finding a job, particularly in a competitive field, isn’t easy, but it’s not impossible. It’s not always about the market; it’s about your approach. By targeting your efforts, working with recruiters, showcasing your unique value, and staying persistent, you can eventually land a successful one in the coming year.

If you’re looking to advance your career or find the perfect role, visit TheEdgePartnership.com. Discover a range of opportunities that match your ambitions, and connect with seasoned recruiters who can help guide you to your next big move!