Reasons why you should hire a financial planner

As a concept ‘financial planner’ has been in existence over several decades in the western world and in modern times, this role has turned into a well understood and highly regulated profession. In the developed markets Financial planners would be similar to the family GP (general practitioner or family doctor) advising their clients on money matters ranging from buying into real estate to making of wills and estate planning.

In India though the concept, as it is understood in the west, is yet to arrive; we always did plan our finances well. This was, however, done by a variety of means. For instance, we took advice of friends and family members before finalizing the property deal; we asked colleagues for a reference to persons who could provide us the financial product that we wanted to invest in. We also were chased by individuals who would specialize in selling a particular product. It could have been insurance, tax planning products, loans etc. In most events there was significant miss-match between what we wanted and what we got. The products would service most but not all requirements of the problem we had.

This has been changing over the past 5-7 years with the emergence of financial planners. These individuals/firms approach in dealing with client’s financial problems is more integrated than what most of the firms offer in India today. Financial planning firms in India now help you address whatever your financial need, just like their western counterparts. Below are 5 main reasons why should hire a financial planner:

1. Service

This is the most fundamental part of any financial planner. Since when you hire a planner and he charges you fees, individuals can expect a very high level of personalised service from the firm/planner. This serves several purposes. It frees a significant amount of time that you invest in doing research for investment/ financial products. This in-turn helps you choose the right financial product/service.

2. Accountability

By far the most important reason to hire a planner. Over the past few years, there have been a plethora of financial products that got manufactured and a significant of those that got invested into were sold by individual/firms who were and are not held accountable for promise and performance. There has been a wide gap between these and it continues to be easy to get away after completing the transaction without any recourse to the agent/intermediary for non-performance. ‘Caveat-emptor’ or buyer beware is applied on majority of financial products. A financial planner and his engagement is a multi-year one and rest assured that chances are that more often than not you can demand an answer and check back on promise and performance of the financial product sold. In fact, the planner of today in India is the one that keeps clients updated on what has been the periodic performance of his/her investments.

3. Knowledge

There has been a sea change in the financial landscape in India over the past 10 years. Financial products that got manufactured in India have increased in complexity and oft border on the esoteric fringe. A planner endures that he is updated on the latest happenings around him and is expected to do two things – guard his client into signing on against anything which is not in his/her interest and select products which though not understood well but suit and serve the purpose and his financial goals. Both of these activities require a deep understanding of the markets and products. In addition, global certifications such as the CFPCM (Certified Financial Planner) provide the added comfort that the individual has done enough homework before he takes fiduciary responsibility of your funds.

4. Ethics

This is easy to understand and preach but difficult to find and practice. Here is where the difference can be stark and contrasted. Financial planners who have demonstrated business ethics and integrity will remain a standout. Because of the esoteric nature of quality involved in testing the planner whether he is ethical or not, the test can be done by simply asking questions such as – What process does he follow in taking and dealing in funds? What is the quality of people he employs at this firm? How long has he been in the business? How has he grown the business? – references, ads etc. Answers to questions such as these will provide you with a fair degree of things such as Ethics, honesty at all.

5. Goal orientation

Not the least of them and equally important is the ability of the current planner to being goal oriented and inculcating a habit of financial discipline into the client’s psyche. The benefits of this get blurred in the overall scheme of things due to the nature of the long length towards the realisation of them. Things like children’s education, marriage or spending for one’s 25th marriage anniversary are events stretched far out in the future and hence not planned for. The planner’s ability to set aside or build funds for these events and the benefit of those would dawn upon when the events arrive over the short horizon.

Financial advice extends beyond planning, ranging from managing funds to investment choices

There is a flurry of activity in the financial planning and advisory space. The practice of earning a commission from the producer is on its way out and several advisers are designing value propositions to earn a fee from the customer.

Most financial advisers like the idea of financial goals, their estimation, and investment products designed to get there. Advisory is quickly getting equated to planning. This is a valuable thing to do and charge customers for, but financial advice should ideally cover a much larger ground.

There is no denying that the clientele for personal financial services is growing. While most open a bank account as soon as they begin to earn, they do not get dependable advice on how to manage their finances after that. Even opening a bank account has now become a matter of advice, with free pricing of deposits and services.

Customers need advice on taking loans, managing their liquidity, making and monitoring their investments and ensuring that their wealth is taken good care of. The demand for advisory services may be more nuanced. Let me spell out some simple advisory services that customers may be looking for.

First, investors may need help with management of investible surplus. Several people tend to leave unused balance in bank accounts. While it makes perfect sense to deploy the surplus, the activities associated with its deployment take time, energy and paperwork, which many of us shun. Advisers working with banks, who have access to investors' balances, can help in routinely investing this surplus.

However, they tend to not do so since it helps their bank to have these low-cost funds lying around unused. Non-bank advisers can step in to see if they can put a process in place, converting routine surpluses to deposits, bonds, or investments in saving schemes. I know of a large number of people who will heave a sigh of relief at this possibility.

Second, while motor vehicle insurance is easily done, other forms of insurance are not seen as tools to managing expenses better. Insurance sale is skewed towards products that customers have begun to see as rip-offs. Low wage earners, such as drivers and maids, may need health insurance, and there may be generous employers willing to pay the premium, only if an adviser arranges the process and paperwork.

Several need general insurance to protect their assets, but may not have the time to complete the tasks that lead to the purchase of an appropriate policy. The unexpected expenses that have to be incurred when an asset is lost, stolen, or destroyed, can be avoided with inexpensive insurance.

Then there are people who change their jobs so often, but don't care to check how well they are covered by health insurance. There are others who do not work for employers who provide such a cover. Several may need health plans that protect them and their families adequately.

Beyond the greed for Ulip and the plain vanilla term policy, the possibilities in insurance remain mostly untapped. Third, there is the general view that financial advisory services are for the high net worth individuals (HNIs).

Careers In Finance

If you have often dreamed of getting a financial profession, your dreams can come true. Finance careers are becoming increasingly common as a lot of individuals are realizing that they really get pleasure from working inside the monetary department. Naturally, these jobs certainly have a great deal to do with funds but there’s also a lot more to these types of careers than just money. Actually, there are countless different aspects of careers in finance, you will surely be capable of locate one that you can get which will also match well with the abilities you have.

With an economic profession, you might end up operating within the corporate finance department. In this department, you may be the one who decides what techniques the organization will use in terms of the finances. You may also be accountable for figuring out just how much a business will make and shed inside the future that is surely a thing that several firms depend on locating out about. Operating in the corporate finance department will require you to have extensive understanding in terms of finances. You’ll most likely want to obtain a degree from college just before acquiring a monetary job like this particular one.

You may, however, function with commercial banking instead. There are many types of jobs with commercial banking which will allow you to have a definite selection. Such jobs contain bank tellers, loan officers, and much more. And, to land a job as a bank teller, you may not necessarily want to get a degree from college. You’ll, however, have the ability to function in a bank and manage finances. Following gaining encounter at a bank by operating as a bank teller, you may even get a promotion that would allow you to broaden your horizons and additional your profession in diverse aspects of commercial banking.

Aside from these careers, there are plenty of other careers in finance that you simply will have to choose from. You might need to be responsible for hedge funds or work as an analyst within the economic department for a specific business or business. Regardless of what you select, it truly is crucial that you simply have an understanding of finances and actually have the expertise before you get a job like this. The job is definitely not for everybody but men and women who get pleasure from working with finances will enjoy these types of jobs.

Finance careers could be a challenge but may also be quite rewarding. You can become quite successful at what you do and earn a healthy salary, particularly inside the long run. Nevertheless, you’ll frequently need to put a great deal of time and effort into your function. If you feel this sounds like the type of profession you wish to have, you should follow your goals by obtaining out what it’s going to take for you to land the monetary profession that you simply have usually wanted.

Importance of a Cover Letter for the Financial Analyst Job

Writing a cover letter is a very important part of the job application process. If you are just entering the field of financial analysis or looking to make a job move, sending out resumes is an essential step to your job search. One of the most important parts of your resume is the cover letter.

The cover letter is the letter that you send to a potential employer along with your resume. It allows you to introduce yourself to the company and highlight your education, skills, and experience that make you the right person for the job to which you are applying. The cover letter should be addressed directly to the person that will be reviewing it. Therefore you will want to do some research and determine to whom the cover letter will need to be addressed. Usually this is a manager or a human resources person.

The cover letter should be as personal as possible. This is one of the ways for you to stand out from the crowd of applicants. In financial analysis, most jobs are heavily sought after and therefore anything you can do to set yourself apart from the other applicants is critical. Making your cover letter personal and concise is an excellent way to get your resume noticed.

In today’s competitive market, anything you can do to stand out from the crowd is important. In financial analysis, this can be vital. Therefore, make certain you do your research regarding the company and the job to which you are applying, list your skills, education, and experience in a well-written and concise manner, and be sure to proofread.

Career Tips for Finance Professionals

The world of finance is competitive. Career advancement is the number one priority for many finance professionals. Doing it alone can be tough; here are some career tips for finance professionals.

Keep Yourself Up to Date

Many finance professionals think that once they have left college, their learning days are over. This is simply not the case. Keeping yourself up to date with trends in the finance world will keep you one step ahead of those who don’t. You can subscribe to the many finance journals or even take some online courses to update your skills. You could find yourself very quickly falling behind the rest of the pack if you do not take the initiative to keep yourself in the know about what’s happening in the world of finance. A professional should always be up to date on the latest trends in whatever his or her field is. 

Remain Open to Change

The world of finance is constantly evolving. It can literally change within minutes. If you are not open to change, you may miss out on some fantastic opportunities that could progress your career, or at least keep it alive. When an opportunity presents itself to you for you to be involved in a new and exciting part of the finance world, take it! The experience will not only teach you new skills and about a different part of the finance world, but it will also allow you the opportunity to formulate some new business contacts. In the world of finance you can never have too many contacts, and it never hurts to explore your avenues.


Which career you will choose? Join Financial Planning Academy to enter the financial market.
Visit us at:http://www.fpa.edu.in/

Why are bonds the true friend in a volatile market?

Bonds aren't as complex as they may seem. Despite the numerous titles used to describe them – fixed-income securities, debt instruments, credit securities, etc. – bonds are nothing more than a fancy IOU (I owe you) in which the terms, pay-back date and interest rate are carefully spelled out, as in a legal document.

Bonds have a reputation for safety. And that reputation is well-deserved. But that doesn’t mean that bonds are risk free. In fact, bond investors have to worry about things that stock investors never worry about; like inflation and liquidity risk. It is a common misconception that bonds are only for the very old, very rich or very conservative investors. In fact, bonds are an important component of a strategically-balanced portfolio at every stage of any investor's life.

There are three important features to notice in a bond; par value, maturity date and coupon rate. A bond, whether it is issued by a corporate or the government, has a fixed maturity date.

Advantages of Bonds

A Safe Haven for Your Money - In general, investing in debt is safer than investing in equity. The reason for this is the priority that debt holders have over shareholders. If a company goes bankrupt, debt holders are ahead of shareholders in the line to get paid.

Slow and Steady but predictable Returns -: As per historical trends, stocks will outperform bonds in the long run. However, bonds outperform stocks at certain times in the economic cycle. It's not unusual for stocks to lose 10% or more in a year, so when bonds make up a portion of your portfolio, they can help smooth out the bumps when a recession comes around. There are always conditions in which we need security and predictability. Retirees, for instance, often rely on the predictable income generated by bonds.

Returns from Bonds/Debt instruments have outperformed Equity markets in the span of last 4 Yrs.      

Better than bank FDs: Sometimes bonds are just the only decent option. The interest rates on bonds are typically greater than the rates paid by banks on savings accounts. As a result, if you are saving and you don't need the money in the short term, bonds will give you the greatest return without posing too much risk.

So whether you are just starting out in your career or you are already enjoying retirement, or if you are somewhere in between, bonds should be a part of your investment portfolio.

The shining Indian bond market

It is expected that the Indian bond market will be a formidable force to reckon with as investors increasingly look for secure investment opportunities where they can be assured of a fair return with low risks. The mood is upbeat and Indian bonds have been able to get a lot more investors in recent years.

The main reason for the rise in Indian bonds is that they have a high amount of liquidity. The increasing instability of the stock market has also fuelled the growth of bonds. There are also more companies offering quality bonds these days which has made the investor check out the offers and plough in his or her money into bonds. The market is more liquid and the fixed income feature is also these days more favored by many investors. Many financial experts studying the scenario in India are very upbeat about the bond market.

Tax Implications

Income-Tax: Interest on bonds will be taxable under the Income-Tax Act, 1961 as applicable according to the relevant tax status of the bond holder.

Interest received on regular interest bonds is taxable at normal rates.  Further the difference between the purchase and sale price of the bond is treated as capital gains.

Deep Discount Bonds - difference between the purchase and sale price of the bond is treated as capital gain.  i.e. the full returns are treated as capital gains and hence these are tax efficient if held for more than 1 year.

Bonds held for a period up to 12 months can result in short term capital gain that is taxed as ordinary income.

Summary  

• Bonds are a good alternative to FD and FMP.

• Most of the bonds are listed and can be traded like your equity shares online; many of the bonds have decent volumes and offer opportunities for quick liquidation.

• Bonds are good options when markets are volatile and interest rates are going high.

• Bonds investment is as simple as buying a share.

• Safe and sound investment option for people looking at risk free avenues.

Senior Citizens: Stay Financially Young

Financial advisors are often heard exhorting individuals to `start young`. However, financial planning itself is a never-ending process; even post retirement one needs to continue to strive to sustain monthly expenses without eroding capital.

Financial planning during one`s golden years differs from financial planning earlier in life. To help senior citizens achieve financial goals, their unique needs must be taken into careful consideration. Here are a few pointers on how one should plan finances for the years ahead.

Capital protection-your main priority

To start with, the risk profile should be held at ``Low-Moderate`` with an essential bias towards low. Given this aspect, there arises the need to hold a major part of investments in safe avenues.

Most senior citizens will have savings to supplement any pension and social security income. Senior citizens generally also have a shorter investment time horizon than younger people. This gives them less time to make up any financial losses. A senior citizen who loses much of his savings may find it difficult to maintain a healthy lifestyle. Equity holding at this point should therefore categorically be lower than 25%, to ensure that capital is protected appropriately. The amount so set aside should be used to take that extra bit of risk for optimization of returns.

Medical cover-health continues to be your wealth

At this age health starts to dwindle and it is time when one is probably seeing the doctor more often friends. Health cover is increasingly important as we age. Long-term illnesses that may incur huge costs are more common in the elderly than in younger people. Health care access is therefore essential. Availing a fresh health cover at this age may not be possible; most health insurers do not provide coverage beyond 65 years. You should as an alternate plan to build a sizeable corpus to ensure that contingencies / medical emergencies are taken care of. This contingency should be planned during the earning years` effectively by setting aside 5% -10% of net earnings. This can be invested in investment avenues such as equity mutual funds to begin with and should be moved into debt mutual funds as one approaches retirement and the possibility of utilization of these funds becomes more likely.

Liabilities-get rid of them!

Having burdens in the form of loan liability / EMI etc, could be detrimental for the post-retirement days. You will not only be required to plan for monthly expenses but would also be required to plan for payment towards liabilities. This could eat into your capital and create stress in later years. If it becomes absolutely inevitable and you are required to plan for any liability, it is best to include that during the planning phase itself.

Planning for your dependents

Estate planning is often ignored in India, nobody wants to foresee the most certain event of life `Death`. Make a will that designates who gets what upon your death. If you don`t have one, the state will make one for you by giving two thirds of your assets to your spouse and dividing the remainder between any surviving children. Your spouse may be dependent on you for fiscal survival. During one`s earning years, consider purchasing a life insurance policy/ pension policy and designating him/ her as the beneficiary.

Hope this brief sets you on the right track to plan your later years and enables you to stay fiscally healthy!

Tips for the week:

· Capital protection is priority; Equity holding should be minimal. Invest in Bank FD, FMP and bonds etc.

· Keep the overall risk profile `Low- Moderate` with a bias towards instruments with lower risk.

· Plan for contingencies/ emergencies, during your working years`. Plan for your health emergencies by availing a medical insurance that will offer cover for life.

· Ensure that your liabilities are taken care of appropriately-try to close them prior to retirement itself.

· Avail pension plans/ life insurance policies and make your dependent spouse as the beneficiary.

·  Create a will and designate who gets what upon your death.

Rupee fluctuates: Here's how it impacts your investments?

Do we even care if the rupee falls against a dollar? We leave such news to NRIs to worry about the exchange rate. For domestic investors, does rupee fluctuation hardly make any difference? Most investors do not read between the lines regarding how rupee fluctuation impacts their investments. Moreover, the exchange rate phenomenon seems esoteric for most of the common investors. Here are some aspects of rupee fluctuation and its impact on our investments:

Currency fluctuation

There are mainly two ways by which currency rates are managed. Firstly, countries fix their currency against dollar. Hence the exchange rate doesn’t change. Government takes action to manage any fluctuation that may happen. Secondly, countries leave it to the market to decide their exchange rate. In such a system, countries follow policy of non-interference.

India doesn’t have a fixed value of rupee against dollar but it also doesn’t keep its currency completely floating against dollar. We have a system where the central bank allows rupee to fluctuate within a specified range.

Usually, rupee appreciation is taken as economy gaining strength while depreciation is taken as Indian economy losing strength.

How it impacts investors

Let’s look at how rupee fluctuation impacts investors’ decisions. Let’s look at appreciation first.

Rupee appreciation –

Rupee appreciation is considered bad for companies where major part of their revenue comes from export. Appreciation of rupee makes products more expensive for export. When the products become expensive, importing nations either reduce the import or look out for other nations that can produce the same product at cheaper prices. Hence, any appreciation in rupee is often accompanied with clamour by export companies to devalue the currency.

Rupee appreciation is good for companies that depend on import from other countries. For example, oil companies, Pharma, Engineering, and medical device companies will be fine with rupee appreciation. The machinery, oil, and engine used in such industries will be cheaper to buy. Investors can consider investing in such companies when rupees appreciate.

Let’s take an example. Suppose the rupee dollar exchange rate is 50 (i.e. Rs 50 - $1). A company in export sector earns a profit margin of 15% from export. If the rupee appreciates and the new exchange rate is Rs 40 = $1. In this case, the company has lost 20% of the income.

This impacts investors in sectors that depend on export for their income. The typical examples are software industry and textile. Their dependence on export is heavy. Any rupee appreciation will hit software and textile industries hard. We have seen what happened in 2008 when America went into recession, dollar lost value and rupee appreciated against dollar. There were lay-offs, increased hours, flat revenues, and reducing profit. Investors in export oriented sector will be hit by any appreciation in rupee.

Rupee depreciation –

Rupee depreciation is when it loses value against dollar. For a nation like India where import is more than export, rupee depreciation makes things worse because imports get expensive. This increases the deficit. Rupee depreciation is not a good signal except for export driven companies.

For Indian economy, which depends on oil import, any fall in rupee will impact its oil bill. This will increase inflation because of increased oil bill. Increased inflation eats into the returns of investors. Moreover, a high inflation reduces the economic activity and consumption.

Software companies, textile companies, and many other export driven sectors such as tourism are the ones where investors can think of investing. Their export becomes cheaper and hence they can sell more to the overseas clients. These companies will do well.

Important points to keep in mind

Since the global crisis is yet to stabilize, there will be extreme fluctuation of currency or rupee. Greek crisis, Eurozone, America’s growth, and many other factors will impact the currency rate. Investors are advised to trade based on currency fluctuation only when they have some expertise in this. There will be times when rupee fluctuation may not impact individual companies or sectors because of other factors present. For example, if rupee depreciates against dollar further, there is not much chance that software industry will improve its income as they did in the past. They have become quite matured and going from here to the next level will require different ways to develop software.

Finally, the rupee dollar exchange rate will remain volatile till the crisis persists. Hence investors should practice caution when investing in exchange rate sensitive sectors.

How To Write An Effective Investment Banking Resume

Investment banking is a fast-moving, high-stress, ferociously competitive business that requires specialized knowledge and experience - not to mention commitment, focus, and the physical and mental stamina required to work long hours.

Career opportunities in investment banking are always available, although in boom years they're more abundant, and in lean economic times they're scarce. Read on for tips on how to build a killer investment banking resume. Obtaining a job in this potentially lucrative occupation usually requires a few key skills and qualities – although a strong recommendation from someone of influence may trump all of them (Without some basic knowledge, you won't get the job).

Building Your Resume

Although there is no perfect format and no infallible content for a resume, the suggestions below are effective in securing jobs in the finance sector, including investment banking.

Keep in mind that there is a difference between a resume in application for an investment banking job and an accounting job. The investment banking candidate may have accounting experience, but beyond that a background in financial analysis, mergers and acquisitions, initial public offerings, valuations, or experience in both buy side and sell side research tends to be much more important. And, of course, a candidate must be able to demonstrate a willingness to put in the demanding hours the job requires.

The resume format sample suggested below is a standard and widely used arrangement, but you may also want to research other resume formats online or in the many books available on this subject. Also note that the information included in the sample is for illustrative purposes only. Your own resume will, of course, reflect your own education, experience and other pertinent information.

Education
Cite the college or university where you studied, list degrees, honors and achievements, and cite special courses relevant to investment banking. For example, computer science, statistical analysis, contract law, management or business administration courses, and business writing may all be worth mentioning in this section.

Employment Background

Include the title of your current and previous jobs, along with the name and location of the company and your duties and accomplishments in a paragraph. 

Skills
Write your relevant skills beneath this heading. For example, beyond your talent as an accountant, you may have written and verbal skills, a knowledge of tax law, managerial abilities and a sharper-than-average understanding of human nature. Focus on the skills with the most relevance and give reasonable proof that you posses these skills.

If you are short on specific skills, you may also cite personal skills. For example, you might say that you are highly motivated, energetic, enthusiastic, and detail-oriented and so on. Many of these things will be implied in your investment banking skill set – that is, accounting skills generally suggests a detail-oriented personality – so you can omit overlap for the sake of brevity.   

Qualifications 
Potential employers in the field of investment banking will look for candidates with the following qualifications in education and work experience. (A career in this high-stress field can be very rewarding for the right person. Find out if you have what it takes.

College or university degrees in any of the following:

Accounting, Banking, Business Administration, Business Law, Computer Science, Economics, Finance, Human Resources, Information Technology, Tax Law.

This is not set in stone, as potential employers will consider and other business, law and technology related disciplines not listed here. Basically, employers want to see that you can bring something to their team.

Unique Qualifications

Employers with special needs may look for candidates with education and experience in government relations, international relations, and or public policy, depending on the type of banking that the office specializes in.

Work experience in the areas cited above, plus any aspect of accounting, banking, finance and mid-level to senior management positions - especially in finance - are particularly attractive to potential employers. 

Another area in which investment banks may now be hiring is in government compliance. With new banking and financial regulatory laws now in place, there may be more demand for compliance personnel. Another critical aspect of investment banking involves raising capital to fund investments. This job requires the talents of a salesperson as well as knowledge in finance.

Entry-Level Qualifications

For junior-level positions, trainee positions or internships in investment banking, qualifications may not be confined to the areas cited above. Education and experience that is less focused on finance may be acceptable to potential employers with a view toward training new hires in investment banking specialties.

Personal Qualifications

The personal qualifications that employers find attractive in a job candidate may include the following:

-Strategic thinking

-Communication skills

People skills - collaboration, management ability, personality, etc.

Again, you will have to back these up with a short statement in your resume and, assuming you get through, further evidence in the interview.

Your Purpose

Finally, be sure to state your passion for banking and finance, and convey your energy and enthusiasm for the business. Often, these qualities help younger and less experienced applicants secure the desired job.

Phrasing Your Experience and Accomplishments

You should try to list all your relevant experience and achievements in succinct, bullet-point format. Use active verbs and phrases such as: managed, supervised, developed, created, invented, organized, assisted, analyzed, raised funds, sold products, wrote, designed and similar words that reflect your specific achievements. This can be integrated within each entry to the employment history section of the resume.

For example: 

Supervised a team of internal auditors.

Created and implemented a new debt-tracking software program.

The Applicant's Edge

If replying to a job opening advertisement, the applicant should repeat some key words found in the ad in his or her cover letter. For example, if a job advertisement states that candidates should have marketing and management skills, be sure to include these key phrases somewhere near the top of your cover letter, and in your resume.

The Reference Advantage

Positive letters of reference from previous employers are a plus. However, if you don't secure letters of reference and still cite previous employers as references, be sure to obtain their permission in advance. Again, if you have a large pool to pull from, you’ll want the references from the posts you’ve held that are most relevant to investment banking qualifications.

For job seekers currently employed, asking your employer for a reference may not be a good idea.

Conclusion
In a competitive job market, a persuasive resume will give the applicant a definite edge among the many who may apply for the position. Relevance should always be your guide in deciding what to include and expand upon in your investment banking resume. Following the suggestions above in drafting your resume may not guarantee that you'll be hired, but if you're qualified, you'll be in the running.