Landing a Government Job

After NYSSA member Virginia Donner was laid off this spring, she started researching jobs with the federal government. Holding a degree in math, Donner had built a career sourcing deals for a hedge fund. But when she heard that the government was hiring, she was enticed by the reputedly progressive environment and project-oriented work. “An ex-boss went to the Fed in 2003,” she recalls, “and had a very positive experience there.”

So Donner hit the NYSSA federal career fair in April, where she learned more about the various agencies. She also went to the government’s main job hub, USAJOBS®. Jobs investigating fraud and money laundering caught Donner’s eye, and she ultimately submitted three resumes online.

The government is rife with more career opportunities than ever; the USAJOBS site currently lists more than 30,000 jobs worldwide. Newly funded agencies are hiring, and older agencies such as the IRS (Internal Revenue Service) expect to add more workers as retirement looms for significant portions of their workforces.

But there is a caveat to this rosy forecast: federal job growth is not nearly as robust as it seems. Some agencies are not staffing up quickly or deeply—and, more importantly, applications are flooding the USAJOBS site. For example, the SEC (Securities and Exchange Commission) received about 900 applications for three open positions. “Right now, that’s the norm,” says Teri Ellison, assistant director at the SEC’s Office of Human Resources.

Spiraling application rates translate not only into stiffer competition but also into longer hiring windows. For example, at the FHFA (Federal Housing Finance Agency), the hiring process takes three months from the time a vacancy appears until the job is filled. “When you’re going through three hundred to five hundred resumes, it takes time,” remarks Janet Murphy, the FHFA’s chief human capital officer. At the SEC and SSA (Social Security Administration), hiring takes up to 60 days. And at the IRS, the process is even longer—four to six months.

The upshot: undertaking government job searches takes time, patience, a highly organized approach, and possibly retraining. Agencies and experts say that CPAs are in demand at agencies like the SSA for jobs in accounting or auditing. But agencies are having a harder time filling positions that require specialized skills like risk examining and quantitative modeling. The FBI is reportedly looking for candidates with strong forensic accounting backgrounds, and the SEC wants candidates with investigative skills.

NEW OPPORTUNITIES UNDER A NEW ADMINISTRATION

As a new president settles into the White House, many agencies are experiencing a sea change. For example, under the Bush administration the SEC suffered cutbacks in staffing. In light of the recent financial crisis, however, President Barack Obama has promised an overhaul of the agency. Testifying before Congress this June, Mary L. Schapiro, the newly appointed chair of the SEC, noted that over the last few years the agency’s staff size has failed to keep pace with the tremendous growth in the securities market; 3,652 full-time employees oversee more than 35,000 entities. Schapiro asked Congress to increase the commission’s budget in order to “restore the SEC as a vigorous and effective regulator of our financial markets,” according to testimony published on the SEC website. “Agencies get funded in an annual budget cycle that’s an act of Congress,” explains Jeff Evans, comanager of the CFA® Career Centre. “It can take years. And that process is only just beginning.”

Still, some agencies are aggressively hiring. The IRS, one of the largest federal agencies, has more than 100,000 employees. It is currently hiring about 1,000 internal revenue agents and a few hundred senior revenue officers. Auditors and accounting majors are the best fit for agent jobs. Officer slots attract Wall Street folk with advanced degrees in accounting or taxation who can handle asset investigations. “We’ve finally gotten funding for our budget,” notes Brian Picariello, an IRS recruiter. “And we want to fill our ranks.” Nearly 50% of the IRS’s managers can retire in the next five years, which means even more slots will open up.

The FHFA is also hiring. Nearly a year old, the agency regulates Fannie Mae, Freddie Mac, and the 12 Federal Home Loan Banks. The 40 available jobs include openings for a risk manager, an accountant, and a lawyer. “We’re looking for good people with good analytical skills,” says Murphy. Risk examiners with the ability to examine different models are the hardest to find. “That skill is highly specialized,” she adds.

The CFTC (Commodity Futures Trading Commission) has 95 jobs to fill in 2009, according to the agency. Their “mission critical” jobs include attorneys, economists, and auditors. A blend of financial, analytical, and technological expertise is desired. “After several years of extremely limited hiring, we are also able to backfill positions vacated through normal attrition,” reveals a representative from the CFTC’s human resources office. With the support of Congress, the agency expects to “continue a strong hiring program over the next few years.”

BECOMING AN “A” CANDIDATE

In this highly competitive marketplace, the smallest misstep can knock a candidate out of the running. Forget networking your way into a government job. “Networking is a big mistake,” confirms Murphy. “Applicants may know the hiring person, assuming they have an easy in. But if they don’t give us a good resume, their name isn’t going forward.”

Strict, transparent regulations guide government hiring. “It’s a very organized, very bureaucratic process,” states Richard Lipstein, a managing director at Boyden Global Executive Search. On the plus side, each resume is “looked at and taken seriously,” says Murphy. That means a highly targeted, example-laden application is key. “Think of recent examples that show off [your] analytical skills,” suggests Ellison. “The more closely they relate [to the job], the more attractive the person. Many people just write three or four lines.”

Personality traits matter, too. Jobs at federal agencies generally require team players. Remember that the government culture is rule based to its core. “People who thrive here are process-oriented,” says Evans. “They take great satisfaction in doing things in an orderly, consistent way.” On the downside, the culture does not “reward entrepreneurial behavior like Wall Street does.”

NYSSA member James Dillon, who recently accepted a buyout package from Swiss Re, devotes 95% of his energy to getting a government job. “Public service has always intrigued me.” So Dillon, who is a CFA charterholder, spent ten hours filling out essays for a job at a federal agency. He believes these tedious, time-consuming applications are used to filter out the casual applicants. “I rewrote [the application] three or four times. A casual person isn’t interested in doing that. Being tough eliminates the competition.” Meanwhile Dillon is adding to his skill set by seeking professional certification in risk management.

Once all of the applications are received, applicants are rated and ranked according to desirability. At the IRS, candidates are ranked by grade—A, B, or C. The A candidates, those who submit highly targeted resumes and applications embedded with clear examples that highlight their skills, get first priority. After that, panels of experts assess serious candidates.

Murphy counsels candidates to review the full job descriptions before interviews. She also suggests familiarizing yourself with the agency and its mission. At the SEC, which has 3,700 employees, most offices have trained hiring committees. Ellison explains that the committee will be most interested in knowing, “What are your reasons for joining public service and doing something at a macro level?”

Background checks of candidates can be rigorous and vary between agencies. Before being hired by the IRS, candidates are fingerprinted and audited.

THE PAYOFF: GREAT BENEFITS AND A BALANCED LIFE

The effort and patience required in pursuing these position means that candidates should first consider whether government jobs are a good fit. Though federal benefits are incomparable, fat paychecks are not part of the package. Lipstein explains that mid- and junior-level employees might take a pay cut when moving from the private to public sector, “but not as substantial as you may think.” Finance professionals accustomed to earning six or seven figures will take a bigger hit; even the highest government salaries rarely exceed $200,000 annually.

But other perks abound. Federal employees can enjoy a balanced life without giving up challenging work, says Ellison. Employees work a 40-hour week, get 13 sick days a year, and enjoy 10 federal holidays. And each agency further sweetens the pot. For example, at the IRS you can work at home after the first year, and there is no mandatory retirement age for agents. “There’s also job security,” says Picariello. “You can’t get laid off.”

For his part, Dillon looks forward to the change. From information gleaned during networking, he knows that the federal work culture is far different from Wall Street’s frantic pace, and he thinks his collaborative style will fit in well. “Most people stay here for their entire careers,” observes Picariello. He ticks off the good points: job flexibility, great people, and a family-oriented culture. “I love it,” he says.

Tips for Landing a Government Job Research each agency. Agencies are tasked with widely varying missions, so visit each agency’s Web site. Monitor new openings constantly. New jobs are posted weekly. The SEC even uses social networks to announce openings. “Around 1,000 people are following on Twitter,” according to Teri Ellison, assistant director at the SEC’s Office of Human Resources. Many sites also send out e-mail blasts with the latest job openings. Create a tight, highly targeted resume. “Job seekers must communicate how their skills relate to the job being filled,” says Janet Murphy, chief human capital officer at the FHFA. “Give specific examples in your past. We can’t make any assumptions.” To prevent appearing overqualified, “remove details such as speaking engagements and board commitments that may appear too senior,” adds Richard Lipstein, a managing director at Boyden Global Executive Search. Submit your application on time. “We’ve seen people start their resume at 11:30 p.m. that day,” says Murphy. “If it’s submitted at 12:01 a.m., we don’t take it.” Apply frequently. Given the high number of applicants per job, it pays to apply for all relevant positions within a particular agency. “If you have the background and skills, you’ll want to apply again for other jobs,” says Ellison.

–Constance Gustke

Comments

[Jen]

I hear that the benefits are fantastic for government jobs, particularly the retirement.