I am an expert with over several years of experience in central banking and banking regulation. I hold a Ph.D. in Economics from a university in my home country, and I am currently pursuing an LL.M. in Banking Regulation in Germany. This program complements my previous expertise by updating and providing a deeper understanding of the EU regulatory framework. I am fluent in English (C1) and have an intermediate level of German (B1).
Over the past several months, I have applied to around 100 positions — mainly in risk management, regulatory analysis, compliance, and similar areas — aligning with my background and qualifications. These include roles at institutions such as Deloitte, EY, PwC, KPMG, Deutsche Börse, Commerzbank, Deutsche Bank, Targobank, MSG, and many others.
For more than half of these applications, I carefully tailored my CV and cover letter to clearly demonstrate why I am a strong fit for the specific role. Nevertheless, I have consistently received responses along the lines of: "You are highly qualified, but we have decided to move forward with other candidates."
I have consulted with several experts about my application documents and, based on their feedback, I believe the issue does not lie with the quality of my CV or cover letters.
Some colleagues have mentioned that if your documents are well-prepared and match the job requirements, it is reasonable to expect at least a few initial interview invitations out of 20 well-matched applications. Given my current results, I am beginning to feel that something unusual might be at play.
In addition, I have invested significant effort in networking — attending conferences and professional events, engaging on social media, and connecting with headhunters — but unfortunately, this has not yielded any tangible results so far.
At this point, I am honestly losing hope in the German job market, as I am unable to identify what exactly is going wrong or what might be missing in my strategy.
I would deeply appreciate any insights, feedback, or guidance you may be able to offer based on your experience or understanding of the market.
Many thanks for your kind response and encouragement – I truly appreciate it.
To be honest, I have already reflected on most of the aspects you mentioned, and since you kindly opened the door for further exchange, I’d like to share a bit more context. I would also be grateful if we could perhaps brainstorm together on possible ways forward.
1. German Language Barrier
I fully acknowledge that my current German level (B1) is not ideal, and I’m actively working to improve it. However, I don’t see a fast-track path to overcome this gap. I must admit, I strongly believe that being part of a German-speaking work environment would significantly accelerate my progress and provide more practical exposure. Unfortunately, I haven't yet found a viable entry point. If you have any ideas or strategies to support this transition or identify such opportunities, I’d be very happy to hear them.
2. Networking
I’ve invested heavily in networking — attending conferences, events, and building connections through LinkedIn. Most interactions end in a few minutes of polite conversation and a connection request, but rarely lead to meaningful referrals.
In some cases, such as a networking event at Deloitte, I managed to connect directly with a partner and senior managers. They kindly referred me to relevant open positions. Despite that, all my applications — whether for Consultant, Senior Consultant, or even Manager roles (First application was a manager/senior consultant position) — were eventually rejected.
A few months later, I focused only on Consultant and Senior Consultant roles (under the same position title), based on feedback from another expert who mentioned that Manager roles in Big 4 firms are often reserved for candidates with a local network and the ability to bring in clients and teams. Interestingly, this time the rejection responses came even faster — which I found quite disheartening.
3. Application Process Feedback
In my recent applications, I have been more diligent in customizing my cover letters and aligning them with the job descriptions. Interestingly, instead of the usual rejection timeframe of 1–2 weeks from HR, I am now receiving responses after 4–6 weeks. I assume this could indicate that the application is reaching the technical teams or departments, but unfortunately still not resulting in interviews.
4. The Hidden Job Market
As you might confirm, over 60% of mid- to senior-level roles are said to be part of the "hidden job market." Based on your comment regarding my academic and professional background, I understand that your suggestion may be to target such roles. However, I face two key challenges:
First, I genuinely don’t know how to access this hidden segment in Germany.
Second, I am still looking for my first role in Germany, and I wonder whether that alone is a limiting factor.
Do you think it is realistically possible to be hired directly into a mid-level or senior role without local experience? If yes, how should I best position myself to increase those chances?
Once again, thank you very much for your time and willingness to help. I’m open to any thoughts, suggestions, or even small tips that might help shift my approach in the right direction.
Warm regards