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Banking Vocabulary.

APR: abbreviation of Annual Percentage Rate. It is the cost of credit on a yearly basis; expressed as a percentage.

ATM: abbreviation of Automated Teller Machine, which is a machine, usually in a wall or cabin outside a bank, from which you can take money out of your bank account using a special card.

Bank charges: amounts of money paid by a customer for a bank’s services or as a fine if a mistake is made.

Branch: the bank or the building where customers use the bank services.

Cash flow: the total amount of money being transferred into and out of a business, especially as affecting liquidity.

CD: abbreviation of Certificate of Deposit. It is a negotiable certificate of deposit paying a specified rate of interest for a specified period of time, with a penalty imposed for premature withdrawal of the deposited funds.

Checkbook (US) / Chequebook (UK): a book of blank checks with a register for recording checks written.

Checking account (US) / Current account (UK): an account at a bank against which checks can be drawn by the account depositor.

Credit report: a detailed report of an individual’s credit history prepared by a credit bureau and used by a lender in determining a loan applicant’s creditworthiness.

Insurance: a practice or arrangement by which a company or government agency provides a guarantee of compensation for specified loss, damage, illness, or death in return for payment of a premium.

Liquid assets: something valuable that can be sold easily.

Loan: sum of money that is expected to be paid back with interest.

NSF: abbreviation of Non-Sufficient Fund.

Overdraft: when the amount of money withdrawn from a bank account is greater than the amount actually available in the account.

Overdrawn: draw money from (one’s bank account) in excess of what the account holds.

Savings account (US) / Deposit account (UK): a bank account that earns interest.

Standing order: an instruction to the bank to pay the same person or company the same amount of money on a regular schedule, often monthly. 

Tax: a compulsory contribution to state revenue, levied by the government on workers’ income and business profits, or added to the cost of some goods, services, and transactions.

Traveler’s check: a check for a fixed amount that can be cashed or used in payment after endorsement with the holder’s signature, generally used by people when traveling to foreign countries. It can be also changed for the local money of the country you visit.

Wire transfer: an electronic transfer from one bank or credit union to another.

Withdrawal: to take money out of an account.

 

 

IDIOMS

A fool and his money are soon parted: It is easy to persuade someone who is not sensible to spend their money on worthless things.

Money for jam: It is a very easy way of making money.

That costs an arm and a leg: It is very expensive.

To go/to buy/to sell for a song: Something sold or bought very cheaply, by implication for far less than its worth.

A license to print money: A way of making a large amount of money very easily.

 

PHRASAL VERBS

Dip into

“I usually dip into a book before deciding whether to buy it.”

Pay up

“If they don’t pay up we will take legal action.”

Fork out

“We don’t want to have to fork out for an expensive dinner.”

Save up

“It took me ages to save up enough money to go traveling.”

Bank on somebody/something

“I’m banking on your help.” / “I was banking on getting something to drink on the airplane.”

 

 

Want to practice even more?…

Dealing with Customers

Your company’s most vital asset is its customers, so you need to make sure you’re dealing with your customers properly. But, sometimes it can be challenging to build those relationships. 

The key is to make each customer feel welcome and helped.

 

1- Listen actively to customers

Sometimes, customers just need to know that you’re listening. Let your client tell you their story. Resist the temptation to try to solve the situation right away, or to jump to conclusions about what happened. 

Start the dialogue with a neutral statement, such as, “Let’s go over what happened,” or “Please tell me why you’re upset.” This subtly creates a partnership between you and your customer and lets them know that you’re ready to listen.

Here’s an example of reflective listening being used with a customer.

Client: “I’m really frustrated because I bought these shoes for my daughter, but they are small for her. I would like to exchange them for a larger size, but you do not have them in stock.”

Manager: “So, what I’m hearing is that your daughter wears one size more than the shoes you have bought. Is that correct? Tell me more, so I can better understand.”

Never promise you’ll fix the situation —because you might not be able to. Your goal is to make your customer feel heard and appreciated.

Let the client vent about the situation if at all possible, but don’t allow threats or physical violence.

 

2- Build rapport through empathy

Once you’re sure that you understand your client’s concerns, be empathic. Show that you understand and care about why they’re upset. Don’t engage in fault-finding or laying blame.

When something goes wrong, apologize. Deal with the problem immediately and let the customer know what you have done.

For example, you could say, “I can understand why you’re upset. I would be too. I’m really sorry that we didn’t get the cakes to you on time, especially since it’s caused problems at the party you organized.”

 

3- Present a Solution

There are two ways to do this.

A) Telling them how you’d like to correct the situation.

For instance, you could say, “I know you need these curtains by tomorrow to show to your own customers. I will call our wholesale sellers to see if they have those models in stock, and, if they do, I’ll drop them off at your offices tomorrow no later than 10 a.m.”

B) Ask them to identify what will make thempleased.

For example, “If my solution doesn’t work for you, I would like to know what will satisfy you. If it’s under my reach I’ll get it done, and if it’s not possible, we can work out another solution together.”

 

4- Communicate what you can and can’t to about their situation

Tell the customer what you can do for them, for example, issue a refund, a credit note, a free service, or connect them to the manufacturer.

If you can’t solve the problem, never say: “There’s nothing I can do.” That statement is like adding fuel to the fire.

In these cases you can say, I wish I could do that for you. At this moment, that is beyond my authority but I will ask the general manager. May I have a way to contact you so I can get back with an update?

Always, let them know about the changes that you’ll make as a result of their complaint. Also, make sure to let them know that you’re very grateful they alerted you about this problem.

 

5- Stay calm and be discreet

Being tactful and discreet is crucial when dealing with difficult customers.

If the customer is swearing or being verbally abusive, take a deep breath and continue as if you didn’t hear them. Don’t take it personally. Remember that you’re interacting with a human. 

Difficult as it is sometimes, it is important to stay calm. Reacting in kind will not solve anything, and it will usually escalate the situation. Instead, remind the customer that you are there to help them and are their best immediate chance of resolving the situation.

 

6- Break the big problem into several smaller ones

Take one big problem and break it down to more manageable parts. Smaller problems are easier to handle and let us deal —step by step— with the big issue at hand. 

For example, a customer of the bank you work for repeatedly has a reason why he can’t set up and get started using his online bank account.

At his next calling, ask technical support employees to help him break down each of the steps he needs to take to get things moving (how to create a password to log in and use some strategy so it won’t be forgotten, how to make wire transfers, recognize the difference between login password and transaction password). 

Simply seeing each task chunked can make it easier for your customer to digest what’s left to do.

 

7- Try a reconciliation but don’t be overwhelmed

If the situation reaches a point where the customer crosses the line and becomes rude and unfair, you’ll need to make a judgment call: Will you tolerate someone who’s being aggressive, or you’ll end the discussion?

Choosing the latter would mean that they’ll never shop with you again, but keeping a problematic customer can be just as bad.

Here are some examples of how to ask customers to leave.

I apologize, but if you continue to use this language, I will be forced to ask you to leave the store.

Mr. Smith, I have not been rude to you, so there is no need to be rude to me. Please, take a breath. If you calm down, I will be able to help you, but if you continue to threaten me I must notify the authorities.

If things escalate, call the authorities.

Remember, a bad customer can hurt morale and make the working environment uncomfortable. Just as bad, a manager that won’t stand up to the customer and support his/her employees can have a negative impact as well.

“Your most unhappy customers are your greatest source of learning.” — Bill Gates

 

WEEKLY VOCABULARY

Dealing: A business relation or transaction.

“Charles showed tact in dealing with difficult customers.”

Actively: In a deliberate and positive way.

Actively trading really means actively waiting.”

 

Overwhelmed: Completely overcome or overpowered by thought or feeling.

“Caroline was overwhelmed by the amount of work he had to do.”

 

PHRASAL VERBS

  • Cold call: call or visit someone without arranging it first, when trying to sell them something.

“I cold-called them yesterday, and they want to set up a face-to-face meeting next week.”

 

  • Sort out: to organize or fix something

“Don’t worry about your order. I’ll sort it all out for you.”

 

  • Note down: to write something.

” Ok, you want 200 pounds of this product. Let me just note that down.”

 

  • Follow up: call, email, or visit someone again after a meeting or set a plan, to reconfirm what you spoke about.

“ I met with John yesterday about placing an order, so I’m going to follow up with him today to make sure I have the right amounts.”

 

 

IDIOMS

Sitting on the fence: To delay making a decision.

 

Take it with a grain of salt: To listen to a story or an explanation with considerable doubt, because you think it is unlikely to be true.

 

That’s the last straw: My patience has run out.

 

Get out of hand: Get out of control.


A blessing in disguise: A good thing that initially seemed bad.

 

 

How to Adapt Your Resume to the Job Description

Most job seekers go create a resume with the goal of seeming as impressive as possible. That’s maybe not what a hiring manager is looking for, though. 

Luckily, there are some tips that you can apply to tailor your resume to a specific job by finding the skills and keywords recruiters are looking for, ranking them, and putting them strategically on your resume. Nowadays, many companies use softwares to filter, so a lot of resumes don’t even reach human eyes, and when they do, they scan them for no more than 30 seconds.

1. Read the job description and identify what’s most important for the company

The key to making your resume really interesting to a company is to tailor it to the job description. In other words, use the job description to figure out their needs and priorities and then make your CV mirror that.

Read the job description carefully and ask yourself:

– What responsibilities/skills do they list first? Which ones are mentioned lower down and might be least important?

– Are any themes or requirements repeated throughout? E.g. creative thinking, multitasking, oral communication, etc.

– What specific qualifications and experience the employer is looking for?

2. Identify keywords and strategic phrases

Highlight keywords and specific skills listed in the job description, and include them in your resume.

If the job description requests for ‘independent worker and self-starter’ or ‘good written communication skills,’ make sure you get those words or phrases on your CV.

Lots of employers use applicant tracking systems (ATS) to scan resumes before they are seen by recruiters.

ATS software scans applications for specific keywords or phrases related to the role. If your resume doesn’t include these words and phrases, it probably won’t make it past this selection stage.

3. Make your resume fit with the job description

Now that you understand what the company wants, look at your resume and tailor it to the job description, starting by matching the most important things on the job description with the most visible areas on your CV.

Put your most relevant experience first. 

– Start writing your work experience section with skills and qualifications that are found in the job description, even if they were the less important part of your daily responsibilities.

For example, if the job description emphasized managing social media campaigns, don’t write your individual accomplishments first. 

Prioritize more relevant/impressive tasks towards the top.

– Now you need to pull out the relevant bits of those experiences.

For example, if you are applying for a sales management role, your focus should emphasize your leadership value —leading the business decisions, managing teams, and making business judgment calls. However, if you are applying for a salesman position in a clothing store, you will need to focus on sales results, revenue growth, and fashion business development in your bullet points.

Lastly, the additional experience section of your resume it’s the proper place for you to make known why you’re qualified for the position and a good cultural fit for the company.

Let’s say you’re applying to a human resources manager role and you had volunteered in different committees on three organizations, one at a time: first on finance, then on cultural events, and finally on human resources.

You can mention all three committees’ experiences down on your resume, but share details only about your work on the third one, human resources, because that’s the relevant experience for the job you’re going after.

If you’re looking for your first job, apply the same concept, tailoring your education and other related experience instead.

4. Put your most relevant experience first

Modify the order of your CV so that your most relevant experience comes first. This might be a previous role, qualifications or training, or some freelance work you did on the side. 

5. Review everything

Once you covered everything on your resume in terms of the job description, ask yourself:

– Will the company be able to clearly see why I chose to apply for this position and why I am interested?

– Does everything fit and make sense with the requested profile? 

Finally, ask a friend to read your resume. If someone else can explain why you’re interested in the position just based on reading your resume, good news, you’re on the right track. But, if your friend can’t understand why you’re applying or how you’re a good fit, then your resume needs more adjustments.

Additional resume tailoring tips

– Never lie on your resume. Few applicants have every skill and meet every qualification. Tailoring your resume is about making sure the recruiter or hiring manager notices the ones you do have.

– Using bullet points instead of big paragraphs on your resume will make your matching qualifications more skimmable.

– Always write your skills in context. Corporate recruiters need to understand how and why you used a skill. 

– Use accomplishments measurables (dollar amounts, percentages, number of people, etc.) to prove your effectiveness.

– If a cover letter is required, you need to tailor it to match the job description as well. Don’t make the mistake of sending a generic cover letter. Make sure you add keywords to your cover letter and avoid repeating exactly what’s in your CV. 

– Do not use complex designs that may result in rejection by an automated system, just because the algorithm did not understand the content.

VOCABULARY:

WORDS

Keyword: A word or concept of great significance.

“Having the right resume keywords is even more critical when technology enters the mix.”

Tailored: Made or changed especially to be suitable for a particular situation or purpose.

“The project clearly requires a tailored computer system”

Skill: The ability to do something well; expertise.

“I think if I talked more often with a native speaker, my English skills would improve quickly.”

 

PHRASAL VERBS

Figure out “Were you able to figure out the new IT system at work?”

Set up “When you set up an online advertisement, you can select keywords that are relevant to your product.”

Take care of “Don’t worry about the project, I’ll take care of it.”

Take over “I would like Susan to take over the social media project from now on.”

Look over “We also take a look at the opportunities and challenges our customers are facing in different markets.”

 

IDIOMS

Better late than never: It is better to do something late than to not/never do it at all.

To kill two birds with one stone: To achieve two things by doing a single action.

You can’t judge a book by its cover: Outward appearance cannot be an indicator of someone or something’s value or worth.

Don’t pull all your eggs in one basket: Don’t make everything dependent on one thing.

The elephant in the room: A major problem or controversial issue that is obviously present but avoided as a subject for discussion because it is more comfortable to do so.

 

DISCUSSION

1- Tailoring your resume, is it really necessary? Why?

2- “Most job recruiters are not evaluating how impressive or smart you are but deciding if you can fit a specific job based on your resume.” True or false?

3- Is it a good idea to remove information or details you’ve added to your resume? Under which circumstances?

4- Do you think writing “frequently required to multi-task” under your most recent job will impress the hiring manager?

5- Have you attended an interview in which your recruiter seemed to wonder, “Hmm, why did this person consider applying here?”




How to ask for a pay raise

Asking for a pay raise gets easier as you learn to plan and prepare for the discussion

 

1. Choose the right time to ask.

Take into consideration the company’s economic situation and overall social context.

2. Do your research and get salary trends.

On Linkedin, you can find people’s salaries according to their position. If you’re working for a national company then you can ask your colleagues o people you know who work in the same industry and specifically in the same position.

Try to identify a percentage increase in pay that you’d be happy with. It normally goes between %10 and %25 (base your numbers on market -based pay rates)

3. Set a meeting and Prepare. Let your manager know what the meeting will be about. Prepare your arguments. Analyze realistically and objectively why you deserve this pay raise.

Write a list of your accomplishments, write all the added responsibilities you have at work, the number of extra hours you need to finish your tasks, extra projects you’re working on, etc.

4. Be ready for questions. Try to prepare for follow-up questions, regarding your responsibilities, results, and possibly changes in your schedule and availability.

5. Don’t take it personally. Managers, almost never accept a pay raise request in the first meeting so they may probably take some days to analyze those numbers.

If they don’t accept it, don’t take it personally. Ask for the reasons, if you want to, try to negotiate vacation time or flexible hours. You can also ask if it’s possible to have this conversation again in 6 months.

If they don’t accept it and you know you’re been underpaid.

Just look for another job opportunity!

 

 

LinkedIn profile in English

LinkedIn profile in English.
5 reasons and 5 tips to help you boost your profile.

If you want to work abroad or in an international company in your country one of the most important steps in this job search process is creating your LinkedIn profile bilingual or multilingual. This is why I’m going to give 5 reasons why you should create your profile in English and 5 tips to use English to boost your profile.

 

The general rule on LinkedIn is that you may only have one profile; having multiple profiles is a violation of the Terms of Service that could get you booted off the site. However, there is one exception to that rule: the Secondary Language Profile.

Now, there are two ways to go around this. You can create your profile from scratch in English or you can create your profile in your native language and then create a second, third, fourth language profile in English.

If you have multiple profiles in several languages the viewers will see the ones that are most relevant for them. And if they are interested they can actually choose from the language profiles by selecting one from the options underneath your profile photo.

Why does it matter?

 

5 reasons to set your Linkedin Profile in English:

1. Interest at first sight. Nowadays, your LinkedIn profile is your cover letter. It’s the first contact between you and the recruiter, hiring manager, etc. So, if they can read it in their native language, it will be easier for them to know you better at first glance.

2. Positioning. It’s not a secret: almost every company types the names of the connections they make into Google. So, creating your profile in English (which is our main interest here) will help you position yourself on google.

3. Credibility Especially if you are interested in working in a company with multicultural teams because your LinkedIn profile may be viewed by several members of that team (even the ones who speak your native language)

4. International offers: Many recruiters look for international talent. So, having your LinkedIn in various languages will open the door to international recruiters contacting you. 

5. You’ll be found for your competencies in multiple languages when people search for someone like you on LinkedIn.

Now, I’ll give you.

Check the 5 tips to help you boost your profile in the video!


Business Communication

Verbal communication

The exchange of information through words and sounds.

  • Sales pitch
  • Small talk

Non-Verbal communication

The exchange of information through gestures, facial expressions, and body posture.

  • Handshake
  • Smile

Written communication

The exchange of information through written words.

  • Bills
  • Contract

Electronic communication

The exchange of information through electronic devices (smartphone, tablet, computer, etc.).

  • Emails
  • Company’s website

 

Acronyms in E-commerce

These acronyms are really important in the E-commerce world.

E-commerce is an electronically exchanging of products or services. 

B2B:

Business-to-Business: 

Used for describing business activities in which companies sell products and services to other companies rather than directly to the public.

No hay texto alternativo para esta imagen

 

B2C

Business-to-Consumer: 

Used for describing business activities in which companies sell products and services directly to the public rather than to other companies.

No hay texto alternativo para esta imagen

 

C2B:

Consumer-to Business:

Used for describing a type of business activity in which a customer deals with a company

No hay texto alternativo para esta imagen

 

C2C:

Consumer-to consumer: 

Used for describing a type of business activity in which a customer deals with another customer.

No hay texto alternativo para esta imagen

 

Pics taken from: https://www.builderfly.com

 

What kind of business do you have?
What kind of business are you part of?

 

Dealing with Interruptions

 

When you have to interrupt:

  • I’m sorry to interrupt but…
  • I hate to interrupt but…
  • I’m sorry to cut this short but…
  • Sorry to interrupt but may I ask a question?
  • May I add something quickly?
  • I don’t mean to be rude but may I interrupt quickly?
  • I’m terribly sorry to interrupt you but…
  • Sorry to interrupt but I just noticed the time and I need to…
  • Excuse me but may I jump in here?

After being interrupted:

  • You didn’t let me finish.
  • Where was I?
  • Anyway …As I was saying …
  • Please let me finish.

Allowing an interruption:

  • No problem. Go ahead.
  • Sure. What do you think?
  • Is there anything I can do for you?
  • Sure, What’s your point?

 

How to ask for people’s opinions

 

Let’s learn more expressions to Ask for other people’s opinions!

 

  1. I would say that…
  2. I have the feeling that…
  3. I have no doubt that…
  4. My personal view is that…
  5. As for me / As to me…
  6. I take the view that…
  7. I guess
  8. I bet that…
  9. I am under the impression…
  10. I am of the opinion that…
  11. I am sure/certain that… 
  12. The way I see it…
  13. In my view,…
  14. In my eyes,…
  15. From my point of view,…
  16. From my viewpoint,…
  17. To my mind,…
  18. My opinion / view / belief / impression is that…
  19. My own feeling on the subject is that…
  20. As I see it…The way I see it…
  21. Personally speaking,…

Expressing your Opinion

Do you share your ideas and thoughts in meetings and regular conversations?


How many phrases/sentences do you know/use to present your ideas?


I’ll show a loooooooooot of expressions you can use to state your opinion:

  • In my opinion…

  • In my humble opinion,…

  • If you want my honest opinion…

  • According to Lisa…

  • As far as I’m concerned…

  • If you ask me…

  • I think / consider / find / feel / believe / suppose / presume / assume that…

  • I would say that…

  • I have the feeling that…

  • I have no doubt that…

  • I hold the opinion /view that…

  • I take the view that…

  • I guess that…

  • I bet that…

  • I gather that

  • I am under the impression…

  • I am of the opinion that…

  • I am sure/certain that…

  • It goes without saying that…

  • It seems to me that…

  • It is my impression that…

  • Frankly, I think…

  • Personally, I think that…

  • The way I see it…

  • In my view,…

  • In my eyes,…

  • From my point of view,…

  • From my viewpoint,…

  • To my mind,…

  • To be honest,…

  • My opinion / view / belief / impression is that…

  • My own feeling on the subject is that…

  • My personal view is that…

  • As for me / As to me…

  • As I see it…The way I see it…

  • Personally speaking,…

  •