cover letter for job application in it

How to Write a Cover Letter in 2024 + Examples

After weeks of heavy job search, you’re almost there!

You’ve perfected your resume. 

You’ve short-listed the coolest jobs you want to apply for.

You’ve even had a friend train you for every single interview question out there.

But then, before you can send your application and call it a day, you remember that the job ad requires a cover letter.

Now you’re stuck wondering how to write a cover letter ...

Don’t panic! We’ve got you covered. Writing a cover letter is a lot simpler than you might think. 

In this guide, we’re going to teach you how to write a cover letter that gets you the job you deserve.

• What’s a cover letter & why it’s important for your job search
• How to write a convincing cover letter that gets you the job (step-by-step!)
• How to perfect your cover letter with the Novoresume free checklist
• What excellent cover letter examples look like

New to cover letter writing? Give our resumes 101 video a watch before diving into the article!

So, let’s get started with the basics!

What is a Cover Letter? (and Why It’s Important)

A cover letter is a one-page document that you submit as part of your job application (alongside your CV or Resume). 

Its purpose is to introduce you and briefly summarize your professional background. On average, your cover letter should be from 250 to 400 words long .

A good cover letter can spark the HR manager’s interest and get them to read your resume. 

A bad cover letter, on the other hand, might mean that your application is going directly to the paper shredder. So, to make sure this doesn’t happen, it’s essential to know how to write a convincing cover letter.

How does a good cover letter look, you might ask. Well, here’s an example:

Keep in mind, though, that a cover letter is a supplement to your resume, not a replacement. Meaning, you don’t just repeat whatever is mentioned in your resume.

If you’re writing a cover letter for the first time, writing all this might seem pretty tough. After all, you’re probably not a professional writer.

The thing is, though, you don’t need to be creative, or even any good at writing. All you have to do is follow a tried-and-tested format:

• Header - Input contact information
• Greeting the hiring manager
• Opening paragraph - Grab the reader’s attention with 2-3 of your top achievements
• Second paragraph - Explain why you’re the perfect candidate for the job
• Third paragraph - Explain why you’re a good match for the company
• Formal closing

Or, here’s what this looks like in practice:

How to Write the Perfect Cover Letter (And Get Hired!)

Now that we’ve got the basics out of the way, we’re going to guide you through the process of writing a cover letter step by step. 

Step #1 - Pick the Right Cover Letter Template

A good cover letter is all about leaving the right first impression.

So, what’s a better way to leave a good impression than a well-formatted, visual template?

You can simply pick one of our hand-picked cover letter templates , and you’ll be all set in a jiffy!

As a bonus, our AI will even give you suggestions on how to improve your cover letter on the go.

Step #2 - Start the Cover Letter with a Header

As with a resume, it’s important to start your cover letter with a Contact Information section:

Here, you want to include all essential information, including:

• Phone Number
• Name of the hiring manager / their professional title
• Name of the company you’re applying to

In certain cases, you might also consider adding:

• Social Media Profiles - Any type of profile that’s relevant to your field. Social Profiles on websites like LinkedIn, GitHub (for developers), Medium (for writers), etc.
• Personal Website - If you have a personal website that somehow adds value to your application, you can mention it. Let’s say you’re a professional writer. In that case, you’d want to link to your blog.

And here’s what you shouldn’t mention in your header:

• Your Full Address 
• Unprofessional Email - Make sure your email is presentable. It’s pretty hard for a hiring manager to take you seriously if your email address is “[email protected].” Whenever applying for jobs, stick to the “[first name] + [last name] @ email provider.com” format.

Step #3 - Greet the Hiring Manager

Once you’ve properly listed your contact information, you need to start writing the cover letter contents.

The first thing to do here is to address the cover letter to the hiring manager .

That’s right, the hiring manager! Not the overly popular “Dear Sir or Madam.” You want to show your future boss that you did your research and are really passionate about working with their team.

No one wants to hire a job seeker who just spams 20+ companies and hopes to get hired in any of them.

So, how do you find out who’s the hiring manager? There are several ways to do this. 

The simplest option is to look up the head of the relevant department on LinkedIn. Let’s say you’re applying for the position of a Communication Specialist at Novoresume. The hiring manager is probably Head of Communications or Chief Communications Office.

So, you do a quick lookup on LinkedIn:

And voila! You have your hiring manager.

Or let’s say you’re applying for the position of a server. In that case, you’d be looking for the “restaurant manager.”

If this doesn’t work, you can also check out the “Team” page on the company website; there’s a good chance you’ll at least find the right person there.

Here are several other greetings you could use:

• Dear [Department] Hiring Manager
• Dear Hiring Manager
• To whom it may concern
• Dear [Department] Team

Step #4 - Write an Attention-Grabbing Introduction

First impressions matter, especially when it comes to your job search.

Recruiters get hundreds, sometimes even thousands, of applications. Chances are, they’re not going to be reading every single cover letter end-to-end.

So, it’s essential to catch their attention from the very first paragraph .

The #1 problem we see with most cover letter opening paragraphs is that they’re usually extremely generic. Most of them look something like this..

• Hey, my name is Jonathan and I’d like to work as a Sales Manager at XYZ Inc. I’ve worked as a sales manager at MadeUpCompany Inc. for 5+ years, so I believe that I’d be a good fit for the position.

See the issue here? This opening paragraph doesn’t say pretty much anything except the fact that you’ve worked the job before.

Do you know who else has similar work experience? All the other applicants you’re competing with.

Instead, you want to start off with 2-3 of your top achievements to really grab the reader’s attention. Preferably, the achievements should be as relevant as possible to the position.

So now, let’s make our previous example shine:

My name’s Michael and I’d like to help XYZ Inc. hit and exceed their sales goals as a Sales Manager. I’ve worked with Company X, a fin-tech company, for 3+ years. As a Sales Representative, I generated an average of $30,000+ in sales per month (beating the KPIs by around 40%). I believe that my previous industry experience, as well as excellence in sales, makes me the right candidate for the job.

See the difference between the two examples? If you were the hiring manager, which sales manager would you hire, Jonathan or Michael?

Now that we’ve covered the introduction, let’s talk about the body of your cover letter. This part is split into two paragraphs: the first is for explaining why you’re the perfect person for the job, and the latter is for proving that you’re a good fit for the company.

So, let’s get started...

Step #5 - Explain why you’re the perfect person for the job

This is where you show off your professional skills and convince the HR manager that you’re a better fit for the job than all the other applicants.

But first things first - before you even write anything, you need to learn what the most important requirements for the role are. So, open up the job ad and identify which of the responsibilities are the most critical.

For the sake of the example, let’s say you’re applying for the position of a Facebook Advertiser. You scan the job ad and see that the top requirements are:

• Experience managing a Facebook ad budget of $10,000+ / month
• Some skills in advertising on other platforms (Google Search + Twitter)
• Excellent copywriting skills

Now, in this section, you need to discuss how you fulfill these requirements. So, here’s how that would look for our example:

In my previous role as a Facebook Marketing Expert at XYZ Inc. I handled customer acquisition through ads, managing a monthly Facebook ad budget of $20,000+ . As the sole digital marketer at the company, I managed the ad creation & management process end-to-end. Meaning, I created the ad copy , images, picked the targeting, ran optimization trials, and so on.

Other than Facebook advertising, I’ve also delved into other online PPC channels, including:

• Google Search

Are you a student applying for your first internship? You probably don’t have a lot of work experience to show off in this section. Learn how to write an internship cover letter here.

Step #6 - Explain why you’re a good fit for the company

Once you’ve written the last paragraph, you might be thinking - I’m a shoo-in for the job! What else do I need to write? I’ll just wrap up the cover letter and hit that sweet SEND button.

Well, no. You’re not quite there yet.

The HR manager doesn’t only look at whether you’ll be good at the job or not. They’re looking for someone that’s also a good fit for the company culture.

After all, employees that don’t fit in are bound to quit, sooner or later. This ends up costing the company a ton of money, up to 50% of the employee’s annual salary . 

Meaning, you also need to convince the HR manager that you’re really passionate about working with them.

How do you do this? Well, as a start, you want to do some research about the company. You want to know things like:

• What’s the company’s business model?
• What’s the company product or service? Have you used it?
• What’s the culture like? Will someone micro-manage your work, or will you have autonomy on how you get things done?

So, get to Googling. Chances are, you’ll find all the information you need either on the company website or somewhere around the web.

Then, you need to figure out what you like about the company and turn that into text.

Let’s say, for example, you’re passionate about their product and you like the culture of innovation / independent work in the organization.

You’d write something like:

I’ve personally used the XYZ Smartphone, and I believe that it’s the most innovative tech I’ve used in years. The features such as Made-Up-Feature #1 and Made-Up-Feature #2 were real game changers for the device. 

I really admire how Company XYZ thrives for excellence for all its product lines, creating market-leading tech. As someone that thrives in a self-driven environment, I truly believe that I and Company XYZ will be a great match.

What you don’t want to do here is be super generic for the sake of having something to write. Most job seekers tend to mess this one up. Let’s take a look at a very common example we tend to see (way too often):

I’d love to work for Company XYZ because of its culture of innovation. I believe that since I’m super creative, I’d be a good fit for the company. The company values of integrity and transparency really vibe with me.

See what’s wrong here? The example doesn’t really say anything about the company. “Culture of Innovation” is something most companies claim to have. 

The same goes for “values of integrity and transparency” - the writer just googled what the values for the organization are, and said that they like them.

Any hiring manager that reads this will see through the fluff.

So, make sure to do a lot of research and come up with good reasons why you're applying.

Step #7 - Wrap up with a call to action

Finally, it’s time to finish up your cover letter and write the conclusion.

In the final paragraph, you want to:

• Wrap up any points you couldn't in the previous paragraphs. Do you have anything left to say? Any other information that could help the hiring manager make their decision? Mention it here.
• Thank the hiring manager for their time. It never hurts to be courteous, as long as you don’t come off as too needy.
• Finish the cover letter with a call to action. The very last sentence in your cover letter should be a call to action. You should ask the hiring manager to take some sort of action.

And now, let’s turn this into a practical example:

So to wrap it all up, thanks for looking into my application. I hope I can help Company X make the most out of their Facebook marketing initiatives. I'd love to further discuss how my previous success at XYZ Inc. can help you achieve your facebook marketing goals.

Step #8 - Use the right formal closing

Once you’re done with the final paragraph, all you have to do is write down a formal “goodbye” and you’re good to go.

Feel free to use one of the most popular conclusions to a cover letter:

• Best Regards,
• Kind Regards,

And we’re finally done! Before sending off the cover letter, make sure to proofread it with software like Grammarly, or maybe even get a friend to review it for you.

Does your cover letter heading include all essential information?

• Professional email
• Relevant Social Media Profiles

Do you address the right person? I.e. hiring manager in the company / your future direct supervisor

Does your introductory paragraph grab the reader's attention?

• Did you mention 2-3 of your top achievements?
• Did you use numbers and facts to back up your experience?

Do you successfully convey that you’re the right pro for the job?

• Did you identify the core requirements?
• Did you successfully convey how your experiences help you fit the requirements perfectly?

Do you convince the hiring manager that you’re passionate about the company you’re applying to?

• Did you identify the top 3 things that you like about the company?
• Did you avoid generic reasons for explaining your interest in the company?

Did you finalize the conclusion with a call to action?

Did you use the right formal closure for the cover letter?

5+ Cover Letter Examples

Need some inspiration? Read on to learn about some of the best cover letter examples we’ve seen (for different fields).

College Student Cover Letter Example

Middle Management Cover Letter Example

Career Change Cover Letter Example

Management Cover Letter Example

Senior Executive Cover Letter Example

Want to discover more examples AND learn what makes them stand out? Check out our guide to cover letter examples .

Next Steps in Your Job Search - Creating a Killer Resume

Your cover letter is only as good as your resume. If either one is weak, your entire application is for naught. 

After all, a cover letter is just an introduction. Imagine going through all this effort to leave an amazing first impression, but flopping at the end because of a mediocre resume.

...But don’t you worry, we’ve got you covered on that end, too.

If you want to learn more about Resumes & CVs, we have a dedicated FREE guide for that. Check out our complete guide on how to make a resume , as well as how to write a CV - our experts will teach you everything you need to know in order to land your dream job.

Or, if you’re already an expert, just pick one of our resume templates and get started.

Key Takeaways

Now that we’ve walked you through all the steps of writing a cover letter, let’s summarize everything we’ve learned:

• A cover letter is a 250 - 400 word document that convinces the hiring manager of your competence
• A cover letter goes in your job application alongside your resume
• Your introduction to the cover letter should grab the hiring manager’s attention and keep it all the way until the conclusion
• There are 2 main topics you need to include in your cover letter: why you’re the perfect candidate for the job & why you’re passionate about working in the company you’re applying to
• Most of the content of your cover letter should be factual , without any fluff or generalizations

At Novorésumé, we’re committed to helping you get the job you deserve, every step of the way! Follow our blog to stay up to date with the industry-leading advice. Or, check out some of our top guides…

• How to Write a Motivational Letter
• How to Write a Resume with No Work Experience
• Most Common Interview Questions and Answers

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IT Cover Letter Samples & Examples That Worked in 2024

Information technology – more commonly referred to as IT – is a vast industry encompassing everything from creating computer networks and systems to providing vital tech support for businesses of all kinds. To become an IT professional, you will need a cover letter that showcases your professional drive and dedication to the field.

In this guide, we will teach you everything you need to know about writing a cover letter as an IT professional. Keep reading to learn:

• How to format your IT cover letter header & headline
• Why you need a personalized greeting on your IT cover letter
• What to say in your IT cover letter introduction
• Ways to emphasize your professional value as an IT professional
• How to conclude your cover letter with a strong closing statement
• Where to find useful job search resources for IT professionals

Still looking for a job? These 100+ resources will tell you everything you need to get hired fast.

1. How to properly format your IT cover letter header & headline

To create a compelling IT cover letter, it is crucial to start with a well-formatted header and headline . 

The header is located at the top of the document, usually in the top-left corner, and includes essential details about both the applicant and the employer. It's important to ensure that the header is properly formatted and includes all the necessary information. 

Additionally, the cover letter headline should follow the header and should be a brief but powerful statement that grabs the employer's attention and provides an accurate preview of the contents of the cover letter. A well-crafted headline can help make a strong first impression and increase the chances of the employer reading the rest of the cover letter.

To better demonstrate how to write each of these cover letter elements, we have provided more in-depth explanations and examples below:

Formatting the Header

There is no singular formatting style required for a cover letter header and most applicants will vary the header’s appearance depending on their own stylistic preferences.

However, a good header will typically have between 3 to 4 lines of text that include:

• The name of the company you are applying to (& the name of the department, when applicable)
• Your name and professional title
• Your professional contact information (phone number, email address, LinkedIn, etc.)

Here is an example of what a well-formatted header on an IT cover letter looks like

To: Dynamic Software Solutions, IT Department From: Jane Doe , IT Specialist (123) 456-7890 | [email protected] | linkedin.com/in/jane-doe

Writing the Headline

To write the headline of your cover letter, you should always include a keyword related to the position, an eye-catching number or trigger word, a powerful adjective or verb, and a promise.

Here is an example of an effective IT headline, followed by a brief breakdown of its key components

My 3 Best Skills as an IT Specialist & How They Can Improve Your Company’s Efficiency

Trigger Word/Number : 3 Skills Keyword: IT Specialist Adjective/Verb: Best, Improve| Promise: Your Company’s Efficiency – this last detail in the headline shows the employer that you will relate your skills directly to the needs of their company. In this example, the applicant likely read that efficiency improvement was one of the company’s goals and chose to highlight this in their headline.

Try our AI Resume Writer and have your resume ready in minutes!

2. include a personalized greeting in your it cover letter.

With the header and headline of your cover letter in place, your next step is to create a greeting.

We recommend always using a personalized greeting over a generalized greeting . Unlike generalized greetings – such as “To Whom It May Concern” – a personalized greeting will address a specific person or department by name. In doing so, this shows employers you have excellent attention to detail.

If you have done your part in thoroughly researching the company but cannot pinpoint an exact person or department who will review your cover letter, try out one of the following alternatives:

To the [Company Name] Team Or To the [Company Name] Hiring Manager

3. How to craft an effective IT cover letter introduction

The headline and greeting of your cover letter do a lot of the heavy-lifting when it comes to initially attracting an employer’s attention. To keep the employer interested, however, you will need a powerful introduction that includes:

• A brief overview of your professional history and goals
• A statement on why you are enthusiastic about applying to this company
• A mutual acquaintance (when possible)

Here is an example to help demonstrate how to write an IT cover letter introduction

To the [Company Name] Hiring Manager,

I am an IT Specialist with 4+ years of experience working in academic and classroom settings. As a part-time IT support professional for [Former Employer], I had the pleasure of meeting your company’s Assistant IT Manager, John Smith. After observing my work, Mr. Smith highly recommended I apply for this position.

4. Emphasize your professional value in an IT cover letter

With the employer’s attention now firmly hooked, you can delve into a more in-depth explanation of your professional strengths and qualifications in your body paragraphs. An effective IT cover letter should contain between 2 to 4 body paragraphs that answer these key questions:

• What excites you about working at this company?
• What do you hope to learn from working at this company?
• What accomplishments or qualifications make you stand out as an applicant?
• What key skills do you possess that are relevant to the position?

Focusing on accomplishments is particularly important, as they help immensely with showing employers the real-life value you can offer their company.

Here is an example of how to describe an accomplishment in an IT cover letter

As an IT Specialist for [Former Employer], I assisted in the design and implementation of a new business computer network that connected all departments through a singular digital platform. As a result of this implementation, communication efficiency rose by 65%, and time to complete projects decreased by nearly 50%.

Find out your resume score!

5. How to highlight your IT skills through your projects

As an IT professional, it is essential to highlight your skills and experience. One way to do that is to include information about significant projects you have completed, including those from school, work, or personal projects. 

Providing details on the scope of the project, technologies used, and the results achieved can help demonstrate your abilities and provide concrete examples of your work. 

Here's an example of how to showcase your IT projects in a cover letter

I led a team of four developers to design and develop a responsive and user-friendly e-commerce website. I conducted requirements gathering, created wireframes, and managed the development process from conception to deployment. This project demonstrates my ability to manage a team, deliver high-quality results, and use various technologies to achieve the project goals.

6. How to conclude your IT cover letter with a strong closing statement

The final element of any good cover letter is a strong closing statement . In this statement, you should aim to include:

• An enthusiastic sentence saying you are looking forward to hearing from them
• An additional sentence stating you will follow up, including how you will contact them or how they can contact you
• A formal sign-off

Here is an example of a well-written closing statement from an IT cover letter

As your new IT Specialist, I will bring a high level of quality and professionalism to help your company reach its digital goals. I am eager to further discuss this opportunity with you directly and am available to meet any weekday from 9 a.m. to 4 p.m. The best way to reach me is at (123) 456-7890.

I look forward to hearing from you within the week and will reach back out to touch base after that time has passed.

Best Wishes,

[Applicant Name]

7. Essential job search resources for IT professionals

Staying ahead in the constantly evolving field of IT requires resourcefulness, especially while job hunting. To make your search easier, we've gathered a list of reliable resources specially dedicated to IT professionals:

• Dice.com : Mostly known as the 'go-to' platform for technology jobs, Dice.com hosts thousands of job postings from companies across the globe. Behind only the giant job boards in terms of sheer volume, it’s a must-stop for IT professionals.
• TechFetch : This platform is designed to connect tech professionals, particularly in IT, with businesses. TechFetch offers over 250,000+ tech jobs and boasts an intelligent skill-oriented job search engine.
• GitHub careers : Known as the home of open-source projects, GitHub has a jobs board that caters to developers, engineers, and programmers, making it a great resource for candidates looking for IT roles.
• ITJobPro : One of the most visited IT Job boards in the U.S and provides a very effective IT job search.
• FlexJobs : Perfect for IT professionals seeking remote or flexible job options. Every listing is vetted by a real person, so you don’t have to worry about scams.

Tapping into these resources can really up your game in your job search. Keep your CV updated, network persistently, stay patient, and with the right set of tools, that coveted IT job could soon be yours. Happy hunting!

Follow this cover letter outline for maximum success. 

IT Cover Letter FAQ

Your IT cover letter should ideally fit on one page. Stick to three or four brief paragraphs that highlight your most relevant skills, achievements, and why you're a great fit for the role.

If you know the hiring manager's name, it's best to address the letter to them directly (e.g., Dear Ms. Johnson). Should the job posting not indicate a name, 'Dear Hiring Manager' is a suitable alternative.

Highlight those skills that align with the job description. These may include specific programming languages, project management, problem-solving abilities, IT certifications and other relevant technical and soft skills. 

Your cover letter should complement, not repeat, your resume. Use it to provide context for your achievements and expand on the most pertinent aspects of your experience or motivation for applying.

While a template can be a good starting point, you should always customize your cover letter for each job application. Tailoring your letter enhances its effectiveness by demonstrating how your IT skills specifically match the position.

Julia Gergelova

Julia is a professional writer, translator and graphic designer. She holds degrees in translation and interpretation, and has international work experience from a number of different countries in Europe as well as China and Panama. Julia formerly taught academic writing and as a graphic designer contributed to outlets such as  The Business of Business . She has a passion for lifelong learning and good coffee.

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A cover letter is a personalized letter that introduces you to a potential employer, highlights your qualifications, and explains why you're a strong fit for a specific job.

Hate or love them, these brief documents allow job seekers to make an impression and stand out from the pile of other applications. Penning a thoughtful cover letter shows the hiring team you care about earning the position.

Here’s everything you need to know about how to write a cover letter — and a great one, at that.

What is a cover letter and why does it matter?

A professional cover letter is a one-page document you submit alongside your CV or resume as part of a job application. Typically, they’re about half a page or around 150–300 words.

An effective cover letter doesn’t just rehash your CV; it’s your chance to highlight your proudest moments, explain why you want the job, and state plainly what you bring to the table.

Show the reviewer you’re likable, talented, and will add to the company’s culture . You can refer to previous jobs and other information from your CV, but only if it helps tell a story about you and your career choices .

What 3 things should you include in a cover letter?

A well-crafted cover letter can help you stand out to potential employers. To make your cover letter shine, here are three key elements to include:

1. Personalization

Address the hiring manager or recruiter by name whenever possible. If the job posting doesn't include a name, research to find out who will be reviewing applications. Personalizing your cover letter shows that you've taken the time to tailor your application to the specific company and role.

2. Highlight relevant achievements and skills

Emphasize your most relevant skills , experiences, and accomplishments that directly relate to the job you're applying for. Provide specific examples of how your skills have benefited previous employers and how they can contribute to the prospective employer's success. Use quantifiable achievements , such as improved efficiency, cost savings, or project success, to demonstrate your impact.

3. Show enthusiasm and fit

Express your enthusiasm for the company and the position you're applying for. Explain why you are interested in this role and believe you are a good fit for the organization. Mention how your values, goals, and skills align with the company's mission and culture. Demonstrating that you've done your research can make a significant impression.

What do hiring managers look for in a cover letter?

Employers look for several key elements in a cover letter. These include:

Employers want to see that your cover letter is specifically tailored to the position you are applying for. It should demonstrate how your skills, experiences, and qualifications align with the job requirements.

Clear and concise writing

A well-written cover letter is concise, easy to read, and error-free. Employers appreciate clear and effective communication skills , so make sure your cover letter showcases your ability to express yourself effectively.

Demonstrated knowledge of the company

Employers want to see that you are genuinely interested in their organization. Mention specific details about the company, such as recent achievements or projects, to show that you are enthusiastic about joining their team.

Achievements and accomplishments

Highlight your relevant achievements and accomplishments that demonstrate your qualifications for the position. Use specific examples to showcase your skills and show how they can benefit the employer.

Enthusiasm and motivation

Employers want to hire candidates who are excited about the opportunity and motivated to contribute to the company's success. Express your enthusiasm and passion for the role and explain why you are interested in working for the company.

Professionalism

A cover letter should be professional in tone and presentation. Use formal language, address the hiring manager appropriately, and follow standard business letter formatting.

How do you structure a cover letter?

A well-structured cover letter follows a specific format that makes it easy for the reader to understand your qualifications and enthusiasm for the position. Here's a typical structure for a cover letter:

Contact information

Include your name, address, phone number, and email address at the top of the letter. Place your contact information at the beginning so that it's easy for the employer to reach you.

Employer's contact information

Opening paragraph, middle paragraph(s), closing paragraph, complimentary close, additional contact information.

Repeat your contact information (name, phone number, and email) at the end of the letter, just in case the employer needs it for quick reference.

Remember to keep your cover letter concise and focused. It should typically be no more than one page in length. Proofread your letter carefully to ensure it is free from spelling and grammatical errors. Tailor each cover letter to the specific job application to make it as relevant and impactful as possible.

How to write a good cover letter (with examples)

The best letters are unique, tailored to the job description, and written in your voice — but that doesn’t mean you can’t use a job cover letter template.

Great cover letters contain the same basic elements and flow a certain way. Take a look at this cover letter structure for ref erence while you construct your own.

1. Add a header and contact information

While reading your cover letter, the recruiter shouldn’t have to look far to find who wrote it. Your document should include a basic heading with the following information:

• Pronouns (optional)
• Location (optional)
• Email address
• Phone number (optional)
• Relevant links, such as your LinkedIn profile , portfolio, or personal website (optional)

You can pull this information directly from your CV. Put it together, and it will look something like this:

Christopher Pike

San Francisco, California

[email protected]

Alternatively, if the posting asks you to submit your cover letter in the body of an email, you can include this information in your signature. For example:

Warm regards,

Catherine Janeway

Bloomington, Indiana

[email protected]

(555) 999 - 2222

2. Include a personal greeting

Always begin your cover letter by addressing the hiring manager — preferably by name. You can use the person’s first and last name. Make sure to include a relevant title, like Dr., Mr., or Ms. For example, “Dear Mr. John Doe.”

Avoid generic openings like “To whom it may concern,” “Dear sir or madam,” or “Dear hiring manager.” These introductions sound impersonal — like you’re copy-pasting cover letters — and can work against you in the hiring process.

Be careful, though. When using someone’s name, you don’t want to use the wrong title or accidentally misgender someone. If in doubt, using only their name is enough. You could also opt for a gender-neutral title, like Mx.

Make sure you’re addressing the right person in your letter — ideally, the person who’s making the final hiring decision. This isn’t always specified in the job posting, so you may have to do some research to learn the name of the hiring manager.

3. Draw them in with an opening story

The opening paragraph of your cover letter should hook the reader. You want it to be memorable, conversational, and extremely relevant to the job you’re pursuing. 

There’s no need for a personal introduction — you’ve already included your name in the heading. But you should make reference to the job you’re applying for. A simple “Thank you for considering my application for the role of [job title] at [company],” will suffice.

Then you can get into the “Why” of your job application. Drive home what makes this specific job and this company so appealing to you. Perhaps you’re a fan of their products, you’re passionate about their mission, or you love their brand voice. Whatever the case, this section is where you share your enthusiasm for the role.

Here’s an example opening paragraph. In this scenario, you’re applying for a digital marketing role at a bicycle company:

“Dear Mr. John Doe,

Thank you for considering my application for the role of Marketing Coordinator at Bits n’ Bikes.

My parents bought my first bike at one of your stores. I’ll never forget the freedom I felt when I learned to ride it. My father removed my training wheels, and my mom sent me barrelling down the street. You provide joy to families across the country — and I want to be part of that.”

4. Emphasize why you’re best for the job

Your next paragraphs should be focused on the role you’re applying to. Highlight your skill set and why you’re a good fit for the needs and expectations associated with the position. Hiring managers want to know what you’ll bring to the job, not just any role.

Start by studying the job description for hints. What problem are they trying to solve with this hire? What skills and qualifications do they mention first or more than once? These are indicators of what’s important to the hiring manager.

Search for details that match your experience and interests. For example, if you’re excited about a fast-paced job in public relations, you might look for these elements in a posting:

• They want someone who can write social media posts and blog content on tight deadlines
• They value collaboration and input from every team member
• They need a planner who can come up with strong PR strategies

Highlight how you fulfill these requirements:

“I’ve always been a strong writer. From blog posts to social media, my content pulls in readers and drives traffic to product pages. For example, when I worked at Bits n’ Bikes, I developed a strategic blog series about bike maintenance that increased our sales of spare parts and tools by 50% — we could see it in our web metrics.

Thanks to the input of all of our team members, including our bike mechanics, my content delivered results.”

5. End with a strong closing paragraph and sign off gracefully

Your closing paragraph is your final chance to hammer home your enthusiasm about the role and your unique ability to fill it. Reiterate the main points you explained in the body paragraphs and remind the reader of what you bring to the table.

You can also use the end of your letter to relay other important details, like whether you’re willing to relocate for the job.

When choosing a sign-off, opt for a phrase that sounds professional and genuine. Reliable options include “Sincerely” and “Kind regards.”

Here’s a strong closing statement for you to consider:

“I believe my enthusiasm, skills, and work experience as a PR professional will serve Bits n’ Bikes very well. I would love to meet to further discuss my value-add as your next Director of Public Relations. Thank you for your consideration. I hope we speak soon.

Tips to write a great cover letter that compliments your resume

When writing your own letter, try not to copy the example excerpts word-for-word. Instead, use this cover letter structure as a baseline to organize your ideas. Then, as you’re writing, use these extra cover letter tips to add your personal touch:

• Keep your cover letter different from your resume : Your cover letter should not duplicate the information on your resume. Instead, it should provide context and explanations for key points in your resume, emphasizing how your qualifications match the specific job you're applying for.
• Customize your cover letter . Tailor your cover letter for each job application. Address the specific needs of the company and the job posting, demonstrating that you've done your homework and understand their requirements.
• Show enthusiasm and fit . Express your enthusiasm for the company and position in the cover letter. Explain why you are interested in working for this company and how your values, goals, and skills align with their mission and culture.
• Use keywords . Incorporate keywords from the job description and industry terms in your cover letter. This can help your application pass through applicant tracking systems (ATS) and demonstrate that you're well-versed in the field.
• Keep it concise . Your cover letter should be succinct and to the point, typically no more than one page. Focus on the most compelling qualifications and experiences that directly support your application.
• Be professional . Maintain a professional tone and structure in your cover letter. Proofread it carefully to ensure there are no errors.
• Address any gaps or concerns . If there are gaps or concerns in your resume, such as employment gaps or a change in career direction, briefly address them in your cover letter. Explain any relevant circumstances and how they have shaped your qualifications and determination.
• Provide a call to action . Conclude your cover letter with a call to action, inviting the employer to contact you for further discussion. Mention that you've attached your resume for their reference.
• Follow the correct format . Use a standard cover letter format like the one above, including your contact information, a formal salutation, introductory and closing paragraphs, and your signature. Ensure that it complements your resume without redundancy.
• Pick the right voice and tone . Try to write like yourself, but adapt to the tone and voice of the company. Look at the job listing, company website, and social media posts. Do they sound fun and quirky, stoic and professional, or somewhere in-between? This guides your writing style.
• Tell your story . You’re an individual with unique expertise, motivators, and years of experience. Tie the pieces together with a great story. Introduce how you arrived at this point in your career, where you hope to go , and how this prospective company fits in your journey. You can also explain any career changes in your resume.
• Show, don’t tell . Anyone can say they’re a problem solver. Why should a recruiter take their word for it if they don’t back it up with examples? Instead of naming your skills, show them in action. Describe situations where you rose to the task, and quantify your success when you can.
• Be honest . Avoid highlighting skills you don’t have. This will backfire if they ask you about them in an interview. Instead, shift focus to the ways in which you stand out.
• Avoid clichés and bullet points . These are signs of lazy writing. Do your best to be original from the first paragraph to the final one. This highlights your individuality and demonstrates the care you put into the letter.
• Proofread . Always spellcheck your cover letter. Look for typos, grammatical errors, and proper flow. We suggest reading it out loud. If it sounds natural rolling off the tongue, it will read naturally as well.

Common cover letter writing FAQs

How long should a cover letter be.

A cover letter should generally be concise and to the point. It is recommended to keep it to one page or less, focusing on the most relevant information that highlights your qualifications and fits the job requirements.

Should I include personal information in a cover letter?

While it's important to introduce yourself and provide your contact information, avoid including personal details such as your age, marital status, or unrelated hobbies. Instead, focus on presenting your professional qualifications and aligning them with the job requirements.

Can I use the same cover letter for multiple job applications?

While it may be tempting to reuse a cover letter, it is best to tailor each cover letter to the specific job you are applying for. This allows you to highlight why you are a good fit for that particular role and show genuine interest in the company.

Do I need to address my cover letter to a specific person?

Whenever possible, it is advisable to address your cover letter to a specific person, such as the hiring manager or recruiter. If the job posting does not provide this information, try to research and find the appropriate contact. If all else fails, you can use a generic salutation such as "Dear Hiring Manager."

Should I include references in my cover letter?

It is generally not necessary to include references in your cover letter. Save this information for when the employer explicitly requests it. Instead, focus on showcasing your qualifications and achievements that make you a strong candidate for the position.

It’s time to start writing your stand-out cover letter

The hardest part of writing is getting started. 

Hopefully, our tips gave you some jumping-off points and confidence . But if you’re really stuck, looking at cover letter examples and resume templates will help you decide where to get started. 

There are numerous sample cover letters available online. Just remember that you’re a unique, well-rounded person, and your cover letter should reflect that. Using our structure, you can tell your story while highlighting your passion for the role. 

Doing your research, including strong examples of your skills, and being courteous is how to write a strong cover letter. Take a breath , flex your fingers, and get typing. Before you know it, your job search will lead to a job interview.

If you want more personalized guidance, a specialized career coach can help review, edit, and guide you through creating a great cover letter that sticks.

Elizabeth Perry, ACC

Elizabeth Perry is a Coach Community Manager at BetterUp. She uses strategic engagement strategies to cultivate a learning community across a global network of Coaches through in-person and virtual experiences, technology-enabled platforms, and strategic coaching industry partnerships. With over 3 years of coaching experience and a certification in transformative leadership and life coaching from Sofia University, Elizabeth leverages transpersonal psychology expertise to help coaches and clients gain awareness of their behavioral and thought patterns, discover their purpose and passions, and elevate their potential. She is a lifelong student of psychology, personal growth, and human potential as well as an ICF-certified ACC transpersonal life and leadership Coach.

3 cover letter examples to help you catch a hiring manager’s attention

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Sample Cover Letter for a Job Application

What is an Application Letter?

What to include in your application letter, tips for writing a cover letter, cover letter sample and template, email cover letter sample.

• How to Send an Email Application

Frequently Asked Questions (FAQs)

Alex Dos Diaz / The Balance

What's the best way to write a letter to apply for a job? Your letter should detail your specific qualifications for the position and the skills you would bring to the employer. What’s most important is to show the employer that you’re a perfect match for the job.

Your job application letter is an opportunity to highlight your most relevant qualifications and experience. An effective cover letter will enhance your application, showcase your achievements, and increase your chances of landing an interview.

Review what to include in a job application letter, tips for writing a letter that will get your application notice, and examples of letters and email messages sent to apply for a job.

Key Takeaways

• An application letter accompanies a resume and may be uploaded to a job portal, sent via email, or even sent by postal mail, depending on the employer’s requirements.
• Application letters are an ideal way to show your interest in a job and highlight your most relevant skills.
• It’s important to match your letter to the job description and show the employer that you have the qualifications they are seeking.

A   letter of application, also known as a  cover letter , is a document sent with your resume to provide additional information about your skills and experience to an employer. Your letter of application is intended to provide detailed information on why you are an ideal candidate for the job.

Your application letter should let the employer know what position you are applying for, what makes you a strong candidate, why they should select you for an interview, and how you will follow up.

Effective application letters explain the reasons for your interest in the specific organization and identify the most relevant skills that qualify you for the job.

Your application letter should let the employer know what position you are applying for, explain your qualifications for the job, why you should be selected for an interview, and how you will follow up.

Unless an employer specifically requests a job application letter sent by postal mail, today most cover letters are sent by email or attached as a file in an online application tracking system.

As with all cover letters, a job application letter is divided into sections:

• The heading includes your name and contact information.
• A  greeting  addressed to a specific person, if possible.
• The introduction includes why the applicant is writing.
• The body discusses your relevant qualifications and what you have to offer the employer.
• The close thanks the reader and provides contact information and follow-up details.
• Your  signature to end the letter .

Here’s how to ensure that your application supports your resume, highlights your most relevant qualifications, and impresses the hiring manager.

Get off to a direct start.  In your first paragraph, explain why you are writing. Mention the job title and company name, and where you found the job listing. While you can also briefly mention why you are a strong candidate, this section should be short and to the point.

Offer something different than what's in your resume. You can make your language a bit more personal than in your resume bullet points, and you can tell a narrative about your work experience and career.

Application letters typically accompany resumes, so your letter should showcase information that your resume doesn't.

Make a good case.  Your first goal with this letter is to progress to the next step: an interview. Your overarching goal, of course, is to get a job offer. Use your application letter to further both causes. Offer details about your experience and background that show why you are a good candidate. How have other jobs prepared you for the position? What would you bring to the position, and to the company? Use this space to  emphasize your strengths .

Close with all the important details.  Include a thank you at the end of your letter. You can also share your contact information and mention how you will follow up.

This is a sample cover letter.  Download the cover letter template  (compatible with Google Docs and Word Online) or see below for an email sample.

The Balance

John Donaldson 8 Sue Circle Smithtown, CA 08067 909-555-5555 john.donaldson@email.com

September 6, 2022

George Gilhooley LTC Company 87 Delaware Road Hatfield, CA 08065

Dear Mr. Gilhooley,

I am writing to apply for the programmer position advertised in the Times Union. As requested, I enclose my certification, resume, and references.

The role is very appealing to me, and I believe that my strong technical experience and education make me a highly competitive candidate for this position. My key strengths that would support my success in this position include:

• I have successfully designed, developed, and supported live-use applications.
• I strive continually for excellence.
• I provide exceptional contributions to customer service for all customers.

With a BS degree in computer programming, I have a comprehensive understanding of the full lifecycle of software development projects. I also have experience in learning and applying new technologies as appropriate. Please see my resume for additional information on my experience.

I can be reached anytime via email at john.donaldson@email.com or by phone at 909-555-5555.

Thank you for your time and consideration. I look forward to speaking with you about this employment opportunity.

Signature  (hard copy letter)

John Donaldson

The following is a sample email cover letter to send as part of a job application.

Email Application Letter Example

Subject: Colleen Warren - Web Content Manager Position

Dear Hiring Manager,

I'm writing to express my interest in the Web Content Manager position listed on Monster.com. I have experience building large, consumer-focused, health-based content sites. While much of my experience has been in the business world, I understand the social value of this sector, and I am confident that my business experience will be an asset to your organization.

My responsibilities have included the development and management of website editorial voice and style, editorial calendars, and the daily content programming and production for various websites.

I have worked closely with health care professionals and medical editors to provide the best possible information to a consumer audience of patients. I have also helped physicians to use their medical content to write user-friendly and easily comprehensible text.

Experience has taught me how to build strong relationships with all departments in an organization. I have the ability to work within a team, as well as cross-team. I can work with web engineers to resolve technical issues and implement technical enhancements. 

I am confident working with development departments to implement design and functional enhancements, monitor site statistics, and conduct search engine optimization.

Thank you for your consideration.

Colleen Warren colleen.warren@email.com 555-123-1234 www.linked.com/colleenwarren

How to Send an Email Application Letter

If sending your cover letter via email, list your name and the job title you are applying for in the  subject line  of the email:

Colleen Warren - Web Content Manager Position

Include your contact information in your email signature but don't list the employer's contact information.

Do you have to write a cover letter when you apply for a job?

Some employers require cover letters. If they do, it will be mentioned in the job posting. Otherwise, it’s optional but it can help your chances of securing an interview. A cover letter gives you a chance to sell yourself to the employer, showcase your qualifications, and explain why you are a perfect candidate for the job.

How can you use a cover letter to show you’re a qualified candidate?

One of the easiest ways to show an employer how you’re qualified for a job is to make a list of the requirements listed in the job posting and match them to your resume. Mention your most relevant qualifications in your cover letter, so the hiring manager can see, at a glance, that you have the credentials they are looking for.

CareerOneStop. " How Do I Write a Cover Letter ?"

CareerOneStop. “ Effective Cover Letters .”

15 Cover Letter Templates to Perfect Your Next Job Application

Published: August 10, 2022

Are cover letters necessary? I'm not in HR, but I've been approached by applicants who wondered whether their cover letter would actually be read. My answer is one not many of them wanted to hear: "sometimes." Sometimes it will be read. Other times, you can get away with just sending in your resume — like when you network your way into applying for a position.

The truth is, you can't really predict on a case-by-case basis — and you're better safe than sorry. For the most part, having a cover letter will give you an upper hand in ways your resume doesn't. It allows you to show off your writing skills, provide details that you couldn't fit on your resume, demonstrate your passion, and show your willingness to put in as much time and effort as possible.

If you’ve ever rolled your eyes or balked at an application that required a cover letter, this guide is for you. We’ll go over how to write a cover letter and provide cover letter templates to help you perfect your own.

Application Letter

An application letter is a written document addressed to an employer by a job applicant, explaining why they're interested in and qualified for an open position. More commonly known as a cover letter, this document can come in the form of an email, MS Word document, or similar application template offered by the employer.

Seems fairly basic, right? Cover letters can hold different levels of importance to an employer depending on the industry you're in and the job you're applying for. According to a CareerBuilder survey, 49% of recruiters say sendign a cover letter along with your resume boosts your chance of landing the role.

If you do plan to write a cover letter, keep in mind there are certain qualities it should have that are not included in the definition above.

5 Free Cover Letter Templates

Five fill-in-the-blank cover letter templates to help you impress recruiters.

• Standard Cover Letter Template
• Entry-Level Cover Letter Template
• Data-Driven Cover Letter Template

You're all set!

Click this link to access this resource at any time.

What to Include in a Cover Letter

So, what should you include? We'll let the 11 templates below this list do most of the talking. No matter which one you download, pay attention to the following elements — all of which should shine through in the letter you send to your future manager.

Fill out this form to access your templates.

1. contact information.

Cover letters shouldn't just carry your contact information, but also that of the company to which you're applying. Contact info includes your phone number, email address, and any social media accounts you're willing to share and receive connections to.

Home addresses aren't required, but they can be a helpful reassurance to the employer that you already live nearby and would have no trouble coming into the office.

Avoid offering phone numbers, email addresses, or actual addresses that belong to your current employer. Using your personal Gmail address over your work email, for example, ensures your correspondence with recruiters remains separate from all of your current work communication.

2. A Personal Address Line

For as often as you see "to whom it may concern" at the top of cover letters today, do your best to avoid writing this exhausted line.

Address lines that specify a person or company grab your reader's attention much more quickly, and show the employer that you've taken the time to tailor your application letter to them. Don't have the name of the hiring manager? "Employers at [company name]" will do just fine.

A "hook" is a clever introduction that "hooks" your reader into wanting to learn more. Think about yourself as a job candidate — what makes you unique? What about your career might a recruiter be intrigued by that you can package into an interesting first sentence?

4. Why You're Qualified

It's a no-brainer that you should summarize your professional experience in your cover letter. However, today's best applications describe why this experience qualifies the applicant for the job they're applying for. For example, don't just state that you spent three years writing for a company blog. Explain that this type of work lends itself to managing your new potential employer's content calendar every week.

5. General Knowledge of the Business

Grammatical errors could mean your application is thrown in the trash, but that's not the only thing that could get your letter tossed aside. Using a generic "one-size-fits-all" cover letter — especially if you forget to change the name of the company — will also hurt your chances of landing an interview.

So, if you take the time to write a cover letter, take the time to comment on the business itself. Why are you applying to this company? What about their business stuck out to you as a professional?

Now, let's take a look at an example cover letter , what makes it effective, along with 11 templates you can download or draw inspiration from.

Cover Letter Example

Image Source

The example above illustrates how to write a marketing cover letter using the elements we listed.

Besides the contact information and the address line, the first few paragraphs explain why the candidate is qualified for the position. This example uses specific data to show why they would be a good fit.

Additionally, in the second to last paragraph, the candidate discusses why they're interested in the specific company, demonstrating general knowledge of the business.

By combining all the elements to a cover letter, this is a great example to use for inspiration.

Featured Resource: 5 Professional Cover Letter Templates

14 Free Cover Letter Templates for Your Next Job Application

Template 1: basic.

The example above is a basic (but great) cover letter. The numbered sections are explained in more detail below.

The level of formality your header has will depend on the company to which you apply. If you're applying to a formal business, it's important to use a formal header to open your cover letter, like in the sample above. Put your address, the date, and the company's address. But if you're applying to a company that isn't as formal, you don't need to include yours and the company's addresses. You can still include the date, though.

2. Greeting

Using "To Whom It May Concern" is okay, but you may want to take the time to research the name of the recruiter or hiring manager online. If you do your research and aren't confident you found the right name, then you should definitely use the generic greeting — but if you are sure, then it shows you put in the effort to find their name and it will catch the recruiter's eye.

If you have the recruiter's name, do you greet them by their full name, or by their courtesy title (i.e. Mr., Ms., or Mrs.)? Similar to the header, it depends on the company's level of formality. If you're applying to a corporate business, you may want to consider using "Mr. Snaper" instead of "Jon Snaper." If you're applying to a start-up or a business with a more casual culture, you can use "Jon Snaper," as shown in the example.

3. Introduction

Your opening paragraph should, in 1-3 sentences, state why you're excited to apply and what makes you the perfect candidate. Get right to the point, and don't worry about explaining where you found the posting or who you know at the company. This isn't a place to go into detail about why you're a great candidate — that's for the second paragraph. Here, simply list a few key reasons in one sentence to set up the rest of your letter. Keep in mind that the recruiter may cross-reference your cover letter with your resume, so make sure the two sync up.

4. Paragraph 2: Why You're a Great Fit for the Job

Next, sell yourself and your experience by choosing one or two concrete examples that show why you're a great fit for the position. What did you do at a previous company that gave you relevant experience? Which projects have you worked on that would benefit the new company? How will your prior experience help this company grow? Stay humble in your explanation of credentials while still showing that you would be an asset to the team. Use this paragraph to show you're genuinely excited and interested in the position.

5. Third Paragraph: Why the Company Is a Great Fit for You

While it's certainly important you're a good fit for the job, it's also important that the company is a good fit for you. "A cover letter typically describes why you're great for a company — but how will you benefit from getting hired?" asks former HubSpot Team Development Manager Emily MacIntyre . "We want to know why our company appeals to you, and how it will be a mutually beneficial working relationship."

In the third paragraph, show you're serious about growing and developing your career at this new company. What impresses and excites you about the company? Is there something that you feel strongly about that aligns with the company's goals? For example, the candidate in the sample letter used this space to show his personal commitment to environmental causes aligns with the company's green initiatives.

6. Strong Closer and Signature

Don't get lazy in the final few sentences of your cover letter — it's important to finish strong. Be straightforward about your interest and enthusiasm about the new position, and tell them you're available to talk about the opportunity at any time. Be sure to include your phone number and email address. At this point, the ball is (rightly) in the recruiter's court to decide how to follow up.

Last but certainly not least, thank them for their time and consideration. Use a formal sign-off like "Best," "All the best," or "Sincerely," and finish by typing out your full name. You don't need to sign it with a pen.

Template 2: Data-Driven Marketing Cover Letter

Get it here..

When applying to a data-driven position, it might be tempting to inject your cover letter with, well, the data to describe what you've done for other employers. But in an application letter — particularly for the marketing industry — how you convey this data is just as important as the data itself.

The cover letter template above, which we created here at HubSpot, can help you present the data that's most important to you as a candidate such that it'll matter to your future employer.

Notice the three bullet points near the center of the letter above, preceded by the statement: "... I've developed a strategy that has helped the company achieve ..." This setup is important, because while you can add as many statistics as you want to this template, your data points should describe how your current/former business benefited from your work, rather than how you, yourself, benefited.

Template 3: Straight-to-the-Point Cover Letter

Harvard Business Review contributor David Silverman hailed the above cover letter example as "The Best Cover Letter I Ever Received." For context, Silverman believes there are only a handful of times when writing a cover letter is actually necessary:

• When you know the name of the hiring manager.
• When you know something about what the job requires.
• When you've been referred to the job personally.

Under those three circumstances, a straight-to-the-point cover letter like the one above could be your best bet. Because it's so concise, however, make a point to add your own letterhead above the message itself. It might be easy for a recruiter to sift through a short and sweet cover letter like the one above, but it's just as easy for it to get lost in the shuffle of their application list without a unique design or format.

Template 4: Referral Cover Letter

Just because a friend or colleague recommended you for a job doesn't mean the company is all set to hire you. Therefore, the cover letter template above is written specifically for referrals. We made this one here at HubSpot. Download it here (it comes with four other cover letter templates , too).

As you can see in the picture above, the first paragraph of the cover letter is dedicated entirely to acknowledging the circumstances of your applying: You know someone who works there — no harm in that. But there might be harm in not mentioning it to the hiring manager. Telling the reader about your connection at the company shows you're aware and confident of the actions you take to get the opportunities you're interested in.

Ultimately, it's better than the recruiter hearing about your employee connection from somebody else.

As for the rest of the cover letter, treat your message the same way you would if you had applied with no connection from within. Your skills and successes are no less important because of your internal referral.

Template 5: Photo Letterhead Cover Letter

The cover letter template above was designed by Microsoft Office, and as comprehensive as it looks, it's completely free to download and modify.

As it looks right now, this cover letter contains about half photo, half text. Feel free to shrink (and change) the image to give yourself more room to tell your story. Of course, a nice washed-out image that expresses who you are can be part of that story ...

Template 6: Digital Creative Cover Letter

This sixth template is perfect for the applicant who wants to emphasize the many different digital channels they areon. This template goes well with a resume of the same format.

As you personalize this letter with your own experience, make note of the social networks and industry software included in this template. You'll see there’s additional space along the top to add your LinkedIn and personal website to fill with your own information.

You can improve upon this template by formatting your most important highlights and accomplishments with bullet points. This will make the document easier to read for the hiring manager and emphasizes the value you provide.

Template 7: Marketing Manager Cover Letter

Our seventh cover letter comes from Monster.com. This cover letter, shown above, is focused specifically on a marketing role.

Notice how the writer includes references to important marketing metrics and terminology. If you're applying to a data-driven role, you might not want to fill the page with a story of your experience in paragraph form, like Template 1 does at the beginning of this article. Instead, consider highlighting three (or four, or five) of your successes that you believe the hiring manager would resonate most with, in bulleted form.

As a marketing professional, breaking up your letter with bulleted details like the ones above shows a respect for the hiring manager's limited time — a mentality that all marketers must understand when communicating with a brand's audience.

Template 8: Career Day Follow-Up Cover Letter

This is a unique kind of cover letter from Princeton University.

LinkedIn, Glassdoor, Monster, and Indeed might take the lion's share of your job searches online, but still some employment opportunities come out of a trade show, job fair, or similar networking event. For those occurrences, you have the follow-up cover letter template above.

This cover letter has everything you need to help an employer recall a conversation you had with him/her at a career fair. As you can see in the second paragraph, the letter is particularly useful to people who are about to graduate college.

Template 9: Logo and Watermarked Cover Letter

Here's another cover letter template from Microsoft Office. This one has a light touch of color in the design just above the letterhead, but make no mistake — the template caters to any professional looking to make a good first impression on their future employer.

Don't let the logo space on the top-right of the page confuse you. This can be the logo of the company to which you're applying — to quickly get the attention of the recruiter — or your own logo. Perhaps you freelance on the side or simply like branding yourself. This cover letter template is meant for customization.

Template 10: Data Scientist Cover Letter

This is our second template from Princeton University. While this is focused on a data scientist role, it is an excellent template to use for students applying to jobs prior to graduation.

The text emphasizes how the applicant’s academic research and projects makes them an ideal candidate for the position. The format is also simple enough to submit as a pdf, as text in an email message or an application text box.

Template 11: Business Cover Letter

The cover letter template above is perfect for entry- and mid-level marketers who want to show a little extra professionalism in their opening note to a potential employer.

The multi-colored header (you can change the color if you wish) shows just the right amount of creativity and can go quite well with a resume of the same style. If you don't have enough experience to fill the entire page, don't worry. Feel free to write to a length you think is representative of who you are and what the hiring manager wants to see.

No matter how long your final cover letter is, the above template is your opportunity to show your attention to detail — from your contact information in the top header, to the personalized address line where you can include the name of the hiring manager. Like we said, "to whom it may concern" is pretty outdated, anyway.

Template 12: Entry-Level Cover Letter

The cover letter template above, written by HubSpot, is specifically designed for entry-level applicants.

When you only have a few years experience, it's important to display how you gained your skills and what you learned from your education or internships. Additionally, it's important to mention why you want to work at the company you're applying to.

No matter your experience, the template above will help you decide what skills you want to highlight and flesh out in your cover letter.

You can download it here (it comes with four other cover letter templates , too).

Template 13: Healthcare Cover Letter

Additionally, phrases like "I'd love to put my skills to work for your clinic" and "Please contact me at your convenience and let me know how I can help you" focus on what the business will gain as a result of hiring the applicant, rather than what the applicant is looking to gain.

Template 14: Freelance Cover Letter

If you're looking for freelance work, your biggest goal is to get your strengths across quickly, so busy clients won't pass by your cover letter entirely. Additionally, if you're sending out multiple cover letters to different clients, you'll want to target each one to that client's unique goals.

For instance, if one client is looking for SEO-optimized content related to marketing, you'll want to highlight past experience writing marketing content; this will change if, for instance, the client is looking for fitness content.

For this reason, it's a good idea to structure your cover letter so you start with a) past credentials or references, and b) bullet-point information related to the client's goal, as shown in the cover letter above.

Template 15: Director Cover Letter

In the cover letter above, the candidate does a good job outlining how she succeeded in a leadership role previously: "For the past five years, I have successfully developed and maintained all data systems, including schedules and records for a business employing more than 100 people."

You'll want to demonstrate how your skills align with a Director position — both through organization and leadership — and, when possible, where you received recognition for your hard work (i.e. "I earned an award for Most Valuable Administrative Staff Member").

Write a Winning Cover Letter

Writing a cover letter is easier said than done. Don't hesitate to spend a lot of time writing and editing it. Tap into the incredible potential of AI tools, such as the HubSpot paragraph rewriter , to infuse each paragraph with a flawless touch of excellence. Or, ask a friend or family member to read it over and give you feedback. If the recruiter does end up reading it, you'll be thankful you did.

Editor's note: This post was originally published in November 2014 and has been updated for comprehensiveness.

Don't forget to share this post!

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Everything about a cover letter

What is a cover letter for a job.

A cover letter is part of a resume that concisely presents more information about you as an applicant. A good cover letter has several short paragraphs, shows your interest in the job and any relevant experience you have. As you discover how to write a cover letter, we have some answers to commonly asked questions.

The type of cover letter you use depends on the job description, the company at which you are applying and your personal goals. As you revise your cover letter, highlight your knowledge about the company’s mission, values and culture, and show how you fit into their long-term vision.

An application letter is not always required for job applications. However, looks more professional and shows effort on the applicant’s part. There are four types of cover letters:

• Value proposition letter: this gives a summary of why you are unique and is similar to the “tell me about yourself” interview question.
• Letter of interest: this type of letter shows that you are interested in working for a company even if they don’t have current open positions, and shows why you are qualified and an asset.
• Referral: this format is ideal when you know someone at the company who referred you to the position.
• Application: the most common cover letter, this provides details about relevant experience and education, and allows you to delve into things that aren’t appropriate in a resume .

Why is a cover letter important for a job application?

A cover letter is important for a job application because it gives more insight into your personality and qualifications than are listed on your resume. It’s an important tool to present yourself as an asset to the company. A great cover letter helps you stand out from the competition when a hiring manager may go through hundreds of applications for each job.

Your cover letter is the initial introduction a company has of you. If it’s well-written and covers your most important strengths, it may propel you to the top of the applicant pool. It emphasizes your core competencies to catch the hiring manager’s attention.

A good job letter also shows personality. Because of space constraints, resumes can often be blunt and to the point with no room for the reader to get a sense of your personality. Therefore, your cover letter highlights the personality traits that make you a good candidate. These traits include things like being self-motivated, a good leader or organized. In your cover letter, elaborate on why you want to make an employment change and why this opportunity is for you.

You can also show your passion for the industry or job. A well-written cover letter emphasizes your understanding of the company’s vision and how you fit into it. A powerful letter shows how the company benefits from your impact.

Finally, a cover letter highlights your writing ability. Employers value those who can articulate their thoughts in writing, and this shows excellent communication skills.

How should a cover letter look in 2024?

A good cover letter is both formatted and flexible. Using cover letter templates can help ensure that you get the right information across to the hiring manager, but it’s still important to adjust and tailor each letter to the specific job application.

Heading: This section should include your name, physical address, phone number and email address. Furthermore, you can use a professional email and include links to an online portfolio, your professional website or relevant social media sites.

Salutation: If you know the name of the hiring manager, use it for a personalized touch. If not, a generic "Dear Hiring Manager" can suffice.

Opening Statement: The first paragraph is an strong opening statement about who you are, what job you want and when you are available. You can skip specific details like the company name in this section.

Company Alignment: Here, dive into why you're drawn to the particular company and the role. Emphasize your passion for the industry and how you see yourself contributing to the organization's goals.

Motivation: The third paragraph is for motivating why you believe you are the best candidate for the job. Here, mention any relevant experience you’ve had, and why you will excel in this job. While your past employment and education are included in your resume or CV , this is the place to add one or two experiences that stand out and make you a good candidate. 

Conclusion: The final paragraph is an outro, and should stay simple and concise. Mention your attached resume, specify where and when you can be reached, and mention that you’d love the chance to discuss the opportunity more.

Should I customize my cover letter for every job application?

Using cover letter and resume templates is a great way to get a basic outline to start and takes save a lot of time as all the formatting is taken care for you. However, it is highly recommended that your cover letter should be customized and tailored for each specific job and role that you're applying for.

A personal cover letter shows you’ve done your research on the company and the position and it provides you with a great opportunity to stand-out from the rest of the competition.

There are several ways to make a cover letter more personal. One way is to connect your personal value to the company’s values. This requires time and research on your part. Read the website and browse their social media profiles to get an idea of what is important to them. Some companies value the bottom line while others focus on their long-term effects on the world, and if you understand that, you can tie your personal values and work ethic into their goals. 

When possible, use the hiring manager or recruiter’s name. Not only does this personalize your letter, it also ensures that your application goes to the right person. 

Share your professional goals. Discuss how the job directly impacts your career path and what you’ve done to create a solid foundation. Pinpoint how the job you’re applying for matches your long-term goals and how you will be an asset to the company.

As you do research to personalize your cover letter, you learn more about every company. This can also give you insight into companies that you don’t want to work for, whose values don’t align with yours.

How do I use Jobseeker’s cover letter generator?

Jobseeker offers CV and resume examples , as well as templates for resumes, CVs and cover letters. Our tool is easy to use and has several free options. Simply click Get Started on our website and click on create a new cover letter to begin.

You can choose from a formal letter, or email and digital text. Input a photo if you choose, your personal information, email address and phone number. There is a spot to fill in the recipient, the date and subject, the introduction, your current job situation, what your motivation is for the job and a closing paragraph. These spots include drop downs that help guide you through the creating process.

Simply fill in these spots and our tool will populate the cover letter. Choose from 12 different styles including Elegant, Professional, Modern and Simple. Adjust the font, size and color to create a cover letter that reflects your goals and personality. 

Jobseeker also allows you to digitally attach a signature, upload your resume and create a custom paragraph for any other information you want to add. This tool is available in a variety of languages and can be downloaded (in PDF format) or printed. You can use the same template to personalize a cover letter each time you apply for a new job.

Can I format my cover letter with Jobseeker’s cover letter generator?

Our convenient tool allows you to not only choose your format, spacing and font, but you can also move each section to where you feel is appropriate. To change the order, simply hover over the section and click the six dots to the left of the text. Use the mouse to move the section where you want it. 

While our examples and templates are a good guideline, we recognize that ultimately it’s your opinion that matters most. We recommend that your personal details, date and subject, recipient and introduction remain in the order we’ve provided, but ultimately you can change the order to fit the job.

Our system mimics that of other word processing programs (such as Google Docs and Microsoft Word) to make it easy to use. Within the Introduction section, our system guides you to choose between four types of applications: open application, response to ad in newspaper or magazine, response to online ad, and other. 

Once you’ve chosen from the dropdowns in each section, the text automatically populates on the cover letter. Our text gives you a starting point, but you can edit any information to match your purposes. As each paragraph is added and you make edits, read through the information and check that your tone and writing style match.

How can I send the cover letter after it is created?

Once your cover letter is done and all applicable fields are filled in, you can download the document as a PDF and send it along with your resume or CV to the recruiter or hiring manager. We also offer an option to receive the cover letter as a plain email if that option works for you.

When writing your cover letter, don’t forget to attach your resume before you send it to the hiring manager or recruiter. Proofread your cover letter every time you change it, and browse our samples to find a professional tone with appropriate language.

What makes Jobseeker’s cover letter builder the best?

When it comes to cover letter, resume and CV templates and resume templates , we have many great options to choose from. However, ease-of-use is where our builder shines above the rest. We strive to keep Jobseeker’s tools updated and customized to match your needs. The benefits of using Jobseeker include the following:

• Our user-friendly interface makes the creation process simple for those with basic technology experience.
• Our tool allows you to build a cover letter, CV or resume in more than 20 languages.
• We provide diverse options when it comes to templates, with more than ten styles to choose from.
• We allow you to adjust your text, font and spacing to be more exciting, which helps you create an eye-catching cover letter.
• With our easy formatting tool it is simple to add, remove or move various sections.
• When you use Jobseeker, you can match your cover letter template to your CV or resume template.

As you browse resume, cover letter and CV examples on our website, you can run through our cover letter maker to see for yourself how easy it is to use, and how quickly we can help you create an eye-catching, attention-grabbing cover letter. Present your best professional image with a well-written, personalized cover letter created with the the Jobseeker tool.

How many words should a cover letter be?

The appropriate length of a cover letter can vary depending on the position and industry, but as a general guideline, it is recommended to keep it concise and focused. A well-crafted cover letter typically ranges from 250 to 400 words. It is important to remember that hiring managers often have limited time to review applications, so it is best to convey your qualifications and enthusiasm in a clear and succinct manner. Instead of writing lengthy paragraphs, aim to highlight your most relevant strengths and accomplishments, using bullet points or short sentences. By keeping your cover letter within this word count range, you can ensure that it remains engaging and impactful without overwhelming the reader with excessive information.

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Three excellent cover letter examples

Cover letters are the first chance you have to impress an employer – they’re not just a protective jacket for your CV. Here’s our guide on what to include and how to format them

• More CV and cover letter templates
• Looking for a job? Explore the range of vacancies on Guardian Jobs and find the perfect role for you

The first thing a potential employer sees in your job application is the cover letter. This doesn’t just support your CV – it’s an opportunity for you to stand out from the crowd and persuade the recruiter to put you through to the next round.

Be wary of spending hours on perfecting your CV at the expense of your cover letter. If you need some inspiration on what to include and what format to use, here are our helpful guides – just remember not to copy them as exact templates.

1. Standard, conservative style

This is ideal for sectors such as business, law, accountancy and retail. For more creative sectors, a letter like this might be less appealing, and could work against you.

Dear Mr Black, Please find enclosed my CV in application for the post advertised in the Guardian on 30 November. The nature of my degree course has prepared me for this position. It involved a great deal of independent research, requiring initiative, self-motivation and a wide range of skills. For one course, [insert course], an understanding of the [insert sector] industry was essential. I found this subject very stimulating. I am a fast and accurate writer, with a keen eye for detail and I should be very grateful for the opportunity to progress to market reporting. I am able to take on the responsibility of this position immediately, and have the enthusiasm and determination to ensure that I make a success of it. Thank you for taking the time to consider this application and I look forward to hearing from you in the near future. Yours sincerely

2. Standard speculative letter

This may vary according to the nature of the organisation and the industry you’re applying to.

Dear Mr Brown, I am writing to enquire if you have any vacancies in your company. I enclose my CV for your information. As you can see, I have had extensive vacation work experience in office environments, the retail sector and service industries, giving me varied skills and the ability to work with many different types of people. I believe I could fit easily into your team. I am a conscientious person who works hard and pays attention to detail. I’m flexible, quick to pick up new skills and eager to learn from others. I also have lots of ideas and enthusiasm. I’m keen to work for a company with a great reputation and high profile like [insert company name]. I have excellent references and would be delighted to discuss any possible vacancy with you at your convenience. In case you do not have any suitable openings at the moment, I would be grateful if you would keep my CV on file for any future possibilities. Yours sincerely

3. Letter for creative jobs

We’ve used the example of a copywriter but you can adapt it for your profession. The aim of a creative letter is to be original and show you have imagination, but understand what the job entails. Balance is essential: don’t be too wacky, or it will turn off the reader.

Dear Ms Green, · Confused by commas? · Puzzled by parenthesis? · Stumped by spelling? · Perturbed by punctuation? · Annoyed at the apostrophe? (And alliteration?) Well, you’re not alone. It seems that fewer and fewer people can write. Unfortunately, there are still a lot of people who can read. So they’ll spot a gaffe from a mile off. And that means it’s a false economy, unless you’re 100% sure of yourself, to write your own materials. (Or to let clients do it for themselves.) To have materials properly copywritten is, when one considers the whole process of publishing materials and the impact that the client wishes to make, a minor expense. Sloppiness loses clients, loses customers. There is an answer. Me. Firm quotes are free. You can see some of what I do on my multilingual website at [insert web address]. If you’d like, I can get some samples out to you within 24 hours. And, if you use me, you’ll have some sort of guarantee that you can sleep soundly as those tens of thousands of copies are rolling off the presses. Luck shouldn’t come into it! With kindest regards

Other helpful resources

How to write a perfect CV and cover letter

Applying for jobs without experience? How to build and sell your skills

Five steps to the perfect graduate CV

School-leavers and graduates: how to write your first CV

How to write a personal statement for your CV

CV templates to fit every stage of your career

Looking for a job? Browse Guardian Jobs for your next career step.

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A Comprehensive Guide to the Job Application Process

I n today's competitive job market , having a thorough understanding of the job application process is essential for standing out from the crowd and securing employment opportunities.

By familiarizing yourself with each stage of the proceedings from the recruiting process through the interview process, you can approach it strategically and increase your chances of success.

Comprehending the intricacies of the application process can help you navigate it with confidence and set yourself apart from other job seekers.

Related: Building Your Brand Is How You Will Stand Out When Applying for a Job | Entrepreneur

What are the first steps to take when applying for a job?

Successfully navigating the initial stages of the job application process will significantly impact the chances of landing the job of your choice.

Here are a few of the most important steps to follow when you're first applying for a job:

Craft an effective cover letter

Crafting an effective cover letter is a critical step in the job application process. It serves as your introduction to potential employers and provides an opportunity to highlight your qualifications and enthusiasm for the specific role.

To create an impactful cover letter, experts recommend using a template as a starting point and customizing it for each application:

• Address the hiring manager by name if possible, and clearly articulate why you are interested in the position and how your skills align with the job requirements.
• Share specific examples of your achievements and experiences that demonstrate your suitability for the role.
• Remember to keep the letter concise, engaging and always proofread before sending it.

Include crucial information in the application

When filling out an online job application, it's crucial to provide accurate and relevant information that showcases your qualifications:

• Start by including your contact information, including your full name, phone number, email address and professional social media information (such as your LinkedIn profile).
• Provide a comprehensive overview of your work history, starting with your most recent position and including relevant responsibilities and achievements.
• Highlight any certifications or specialized training pertinent to the specific job you are applying for.
• Take the time to tailor your responses to the job requirements, demonstrating how your skills and experiences align with the position.
• Pay attention to any additional questions or sections in the application form, as they may provide an opportunity to showcase your unique qualifications.

Maximize the impact of your resume

Your resume is a crucial tool for making a strong first impression on potential employers.

To maximize its impact, start by tailoring your resume to the specific job you are applying for:

• Carefully review the job description and highlight the skills, experiences and qualifications that align with the requirements of the position.
• Use bullet points and concise language to clearly articulate your work experience, focusing on achievements and measurable results.
• Consider using a professional template to ensure a clean and organized layout that is easy to read.
• Emphasize any relevant certifications, training programs or professional development activities that showcase your dedication to continuous learning.
• Proofread your resume thoroughly to eliminate any spelling or grammatical errors.

Related: 6 Creative and Out There Ways People Have Applied for Jobs | Entrepreneur

Which job searching strategies work the best?

When it comes to job searching, it's essential to employ effective strategies that yield positive results.

Find and evaluate job postings

Finding and evaluating job postings is a critical step in the job search process. Start by exploring reputable job boards, company websites and professional networking platforms. Narrow down your search using keywords, location and specific job titles.

As you come across job postings, thoroughly evaluate them to determine if they align with your qualifications, career goals and values. Look for key details such as job responsibilities, required qualifications and desired skills. Take note of application deadlines, contact information and any additional instructions.

Use LinkedIn to further your search

LinkedIn is a powerful tool for job seekers, providing access to a vast network of professionals and job opportunities. To leverage LinkedIn effectively, optimize your profile to highlight your skills, experiences and career goals.

Connect with industry professionals, join relevant group and actively engage in conversations to expand your network. Use the platform's job search features to discover open positions that align with your interests and qualifications. Reach out to hiring managers or recruiters directly through LinkedIn messaging.

Additionally, consider sharing relevant articles or insights to establish your expertise and increase your visibility. LinkedIn can be a valuable resource for finding and connecting with potential employers.

Tap into your network for more opportunities

Your existing network can be a valuable source of job opportunities. Inform your friends, family, former colleagues and mentors about your job search and the type of positions you are seeking. They may have insights or connections that can lead to potential opportunities.

Attend industry events, job fairs and networking meetups to expand your professional network. Engage in conversations, exchange business cards and follow up with new contacts. Additionally, consider reaching out to alumni associations or professional organizations related to your field.

Related: 4 Ways to Make High-Quality Connections on LinkedIn | Entrepreneur

How does the hiring process work?

The hiring process involves multiple stages designed to assess candidates and select the most qualified individual for a position:

• After submitting your application, it undergoes review by human resources professionals and hiring managers who assess candidate experience, eligibility and qualifications.
• Shortlisted job candidates are typically invited for virtual or in-person interviews.
• Following interviews, employers often conduct background checks to verify information provided and ensure suitability for the role.
• Finally, a hiring decision is made, and the selected candidate becomes the new hire for the job opening.

Related: How to Separate the Champs From the Chumps in the Hiring Process | Entrepreneur

What's the secret for nailing a job interview?

The secret to nailing a job interview lies in thorough preparation, effective communication and showcasing your qualifications and fit for the role. By combining these elements and presenting yourself authentically, you can leave a lasting positive impression and increase your chances of securing the job:

Research the company and position

Researching the company and position is crucial for interview preparation. Start by visiting the company's website, exploring its mission, values, products and services. Familiarize yourself with recent news or developments related to the organization.

Review the job description in detail, understanding the specific responsibilities and requirements. Research the industry and competitors to gain a broader context. Use resources like LinkedIn and professional networks to gather insights and connections within the organization.

Handle reference checks and background investigations

Reference checks and background investigations are common steps in the hiring process. Provide a list of references with their contact information to the employer. Inform your references about the possibility of receiving a call or email from the employer.

Ensure your references are aware of your job search and can provide positive insights into your qualifications and character. Cooperate with background investigations, providing accurate information and complying with required documentation.

Answer common interview questions effectively

Interview questions are designed to assess your qualifications, skills and fit for the job.

Common interview questions may include those related to your work experience, strengths and weaknesses, problem-solving abilities and future goals. To answer them effectively, prepare concise and structured responses using the STAR method (Situation, Task, Action, Result) .

Highlight specific examples that demonstrate your achievements and how you have overcome challenges. Practice your answers to ensure clarity and confidence during the interview. Additionally, research industry-specific or role-specific questions that may arise.

Make a positive impression during the interview

Making a positive impression during the interview is essential for securing the job. Here are a few tips to make the best first impression possible:

• Dress professionally, maintain good body language and engage actively with the interviewer.
• Demonstrate your enthusiasm for the role and organization through your tone and responses.
• Show active listening skills by attentively responding to questions.
• Ask thoughtful questions that demonstrate your interest and understanding of the position. Display confidence in your abilities, but also be humble and open to feedback.

Follow up after the interview

Following up after the interview is an often overlooked but fundamental step in the job application process. Send a thank-you email or letter within 24 hours, expressing gratitude for the opportunity and reiterating your interest in the position. Personalize the message to reflect key points discussed during the interview.

Maintain a professional tone and attention to detail. Timeliness is crucial in showing your professionalism and continued interest in the role.

Negotiate a job offer and consider career goals

When a job offer is extended, it's essential to carefully consider your career goals and the terms of the offer. Evaluate the compensation package, benefits and opportunities for growth and advancement. Assess how the offer aligns with your long-term aspirations and consider negotiating certain aspects if needed.

Communicate your expectations and desired outcomes professionally and respectfully. Carefully weigh the pros and cons and make an informed decision that supports your career goals and overall well-being.

Related: Nailing the Job Interview: 3 Leadership Skills That Are in Demand | Entrepreneur

Finding career success

Navigating the job application process requires careful attention to each stage and element. You can increase your chances of success by following best practices, conducting thorough research, preparing for interviews and effectively showcasing your qualifications.

Remember to follow up after interviews, handle reference checks with professionalism and carefully consider job offers in line with your career goals. Apply these insights and continue your journey towards career success.

By applying the insights gained from this comprehensive guide, you can enhance your job search strategies, present yourself effectively during interviews and make informed decisions about your career path.

For further guidance and resources, we invite you to explore additional insights at Entrepreneur , where you'll find a wealth of information to support your journey towards career success.

How To Write a Cover Letter With Examples

Cover letters can help differentiate you from other job applicants and be the determining factor of landing your dream job. By taking the time to craft a custom cover letter, a single sheet of paper can help communicate all the human elements that a resume may fall short of capturing about yourself. 

But what do employers and recruiters have to say about how to write a cover letter? What are the best tips they have to offer for graduate students who are writing a cover letter?

We asked 11 employers for their best cover letter tips. Here is what they had to share.

Let it Set the Stage

In many ways, cover letters should provide background information and context to your resume, while simultaneously addressing how that resume addresses the specific requirements of the job opportunity. The cover letter is your opportunity to "set the stage" and to convince the hiring manager why your specific set of skills, experiences and interests will provide value to their team and its objectives.

Andrew Horrigan '11 BSBA (Management Information Systems), Product Manager at Cisco

Research the Hiring Manager

If possible, find out who the hiring manager is and look them up on LinkedIn. Do your research on the company you're applying for. What's their mission statement and how do they portray their company culture? Hopefully what you're looking for in a job is reflected by those things. Make sure the hiring manager knows that and understands who you are and what drives you. A resume is often about as robotic as things can be. Make sure your cover letter is the opposite—personalize it and let yourself shine through.

Joshua Schlag ’05 BS (Computer Science) ’11 MBA, Digital Marketing Manager at Pyramid Analytics

Utilize Career Development Resources

The University of Arizona and Eller College of Management go to great lengths to make sure students are prepared for their impending career journey. Because cover letters are so important to getting your foot in the door, there are several career development resources online and on campus to take advantage of. The university’s cover letter builder serves as a nice template to get started. And of course, it never hurts to make an appointment with an Eller Career Coach through eSMS to have a professional review your letter before submission. 

Brett Farmiloe, ’06 BSBA (Accounting), Founder, Featured

Discover Past Samples of the Position

Do your research on the company and personalize your cover letter to the role for which you are applying. Don't be afraid to Google, "How to write a good cover letter for X position." Seriously, it helps! There is so much information out there from various perspectives—applicants, hiring managers, etc. Most importantly be yourself and let your personality come through. And don't forget to spell check!

Mariam Nikola '17 MS MIS, Consultant at Point B

Highlight Your Soft Skills

When writing a professional cover letter, there are a couple things you can do to set yourself apart from the pack. First, make sure you tailor your letter to the specific position you are applying for. This should not be a general, "one size fits all" letter—be sure to discuss specific details surrounding the role or the company itself. Secondly, this is an opportunity for you to show a little bit of your personality. Obviously, you want to remain professional, but this is a great time to highlight some of your soft skills that might not be fully conveyed through your resume.  

Brian Ellis ’17 BSBA (Management), Staffing Manager at Randstad Office and Administrative Professionals

Fill in the “Why” Gaps

As a talent advisor, I review a lot of applicants and agree that a cover letter can be a great way to stand apart, if it is done correctly. A great cover letter for me covers the ‘why’ that I cannot understand from just a resume alone. It should clearly state why you are interested in the role, what your goals are for utilizing your graduate degree (if recently graduated) and explain any career pivots reflected on your resume. If you answer those questions in a direct, concise manner it will add value to your application.

Monica Larson , ’11 BSBA (Marketing) ‘20 MBA, Talent Advisor

Tell Your Story

A cover letter is your opportunity to tell your story—tying your experience and personal interests into why you want a position and why you are the best candidate for it. Paint the picture of your journey and what about the position excites you personally and professionally. Similar to your resume, keep it short and sweet. No need to repeat what’s already on your resume. Recruiters and hiring managers don’t have time to comb through a novel, so you need to engage them with as few words as possible while also grabbing their attention.

Kelly Castoro, ’06 BA (Spanish, Portuguese), Project Manager at Squarespace

Tailor Each Cover Letter to the Position You Are Applying

Be sure to research the role and customize your cover letter for each position, relating your experience to the particular role you are applying for. Personalization is key—research who you are sending the cover letter to and address the letter to them directly. End your letter with a call to action, stating you will follow up by phone or email if you haven’t heard from anyone. Follow ups are very important! 

Jessica Rosenzweig, ’15 BSBA (Business Management), Account Manager at PeopleWare Staffing

Communicate Bankability and Personality 

Your cover letter answers two crucial questions; are you bankable and are you someone the company will enjoy working with? Communicate bankability with your knowledge of the company, industry and why your skills, capabilities and interests are a great fit. Share your passion for their mission, culture, brand—whatever excites you about becoming a member of their team.  

When conveyed through a concise, well-formulated, well-worded cover letter, you demonstrate the ability to write an effective business case—communicating that you are a ready professional and worthy teammate who will hit the ground running.

Theresa L Garcia, ’83 BSBA (Human Resources), Senior Change Management and Organization Capability Consultant at Boeing

Keep it Concise but Compelling

A cover letter is your chance to speak directly to the hiring team and tell them why you are not only the best match for the position for which you are applying but also give them additional insight into yourself as an individual that is less visible from your experience.

A great cover letter should be attention grabbing and touch upon the qualities that make you stand out from others in the applicant pool, highlight both your recent and most distinguished accomplishments and drive home why you are the right person for the job. Professionalism is always important, but don’t be hesitant to put your voice into the letter to let your personality shine through. Research the company, understand where they currently are, where they are going and show why you are the right person to get them from point A to point B. Recruiters spend a lot of time reviewing applicants and making yourself stand apart from the crowd is key. Keep it concise but compelling!

Matt Reineberg, ’14 BSBA (Marketing), Senior Talent Acquisition Sourcer at Cox Enterprises

Highlight the “Why”

Why are you applying to this company? Why do you want this position? Your cover letter should aim to answer the why behind applying for the job. Conveying an interest and excitement for working specifically for this job at this company, rather than a desire to get any job anywhere that will give you money, can go a long way. Show the company that they should hire you and your passion over someone that might have the skills needed for the job, but doesn’t care about the work as much as you do. 

Ryan Nouis, Trupath 

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Writing Cover Letters For A Career Change: Tips And Examples

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Embarking on a career change is a pivotal moment, fraught with uncertainty but brimming with potential. And especially in cases where your resume might not directly align with the job at hand, your cover letter becomes the narrative that connects the dots. A well-crafted cover can illuminate your strengths, align your past experiences with your future aspirations, and persuade potential employers to see the value you bring.

The Importance of a Cover Letter in Career Changes

In career transitions, your cover letter is your storyteller. It explains the why and the how of your career change, showcasing your enthusiasm and demonstrating how your background equips you with unique perspectives and transferable skills. It addresses potential concerns about your career shift head-on, presenting your transition as an asset rather than a liability.

Tips for Writing a Career Change Cover Letter

1. Personalize Your Approach: Address the letter to a specific person whenever possible. Doing so demonstrates attention to detail and a genuine interest in the position. You want to show that you’re not conducting a generic job search, but that you’ve done your research. You’ve perused (not skimmed) the company website and you read that 20-page yearly report from the CEO. You’ve even read their blog and can quote freely from it. You’ve educated yourself.

2. Emphasize Transferable Skills: Highlight the skills and experiences from your previous roles that are relevant to the new position. Be specific and quantify achievements where possible.

3. Show Enthusiasm and Commitment: Employers want to know that you are genuinely interested in the new field. Express your passion for the career change and your eagerness to contribute.

4. Tailor Your Narrative: Connect your past experiences to the job you're applying for, demonstrating how your unique background can bring a fresh perspective to the role.

5. Address Potential Concerns: Be upfront about your career change, framing it as a positive decision guided by clear motivation and a strong understanding of the new field.

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6. End with a Strong Call to Action: Conclude by expressing your desire to discuss your application further in an interview, showing proactivity and determination.

7. Use Strategic Language: Avoid clichéd adjectives. Opt for vivid, specific language that paints a clear picture of your capabilities and achievements.

Example: General Career Change Cover Letter

Dear [Hiring Manager's Name],

I am excited to apply for the [Position] at [Company], transitioning from a career in [Current Industry] to [New Industry]. My experience in [Current Industry] has equipped me with valuable skills that I am eager to apply in [New Industry]. For instance, while working as [Previous Position], I developed a keen ability to [transferable skill], resulting in [specific achievement].

In [Current Industry], I honed my skills in [relevant skill] and demonstrated my ability to [relevant achievement], directly benefiting my team by [specific outcome]. I am particularly drawn to [New Industry] because [reason for interest], and I am enthusiastic about the opportunity to bring my [specific skill] and [another skill] to the [Position] at [Company].

[Your Name]

Tweaks For Various Career Stages

Whether you are making a change early in your career or transitioning later, your cover letter should reflect your rationale and excitement for this new path.

Example: Early Career Cover Letter

As someone at the early stages of my career, I am eager to leverage the foundational skills I gained in [Initial Field], such as [specific skill], in [New Field]. My recent role as [Previous Position] allowed me to develop [relevant skills or experiences], which align closely with the requirements of the [Position] at [Company].

Example: Late Career Cover Letter

Transitioning into [New Field] at this point in my career is a deliberate and enthusiastic choice, driven by my deep-seated interest in [aspect of New Field]. With extensive experience in [Previous Field], I bring a wealth of knowledge and a unique perspective that can contribute to innovative solutions and strategies at [Company].

Tweaks For White And Blue-Collar Roles

Transitioning between white and blue-collar roles offers a unique opportunity to highlight diverse skills and experiences.

Example: White to Blue Collar Cover Letter

I am eager to apply the strategic and managerial skills honed in my white-collar career to the hands-on, dynamic environment of [Blue Collar Field]. My experience in [White Collar Role], where I developed [specific skills], aligns well with the challenges and responsibilities of the [Blue Collar Position] at [Company].

Example: Blue to White Collar Cover Letter

Transitioning from [Blue Collar Field] to [White Collar Field], I bring practical, on-the-ground experience that can inform and enhance the strategic decisions in [White Collar Role]. My background in [Blue Collar Role], where I mastered [specific skills], equips me with a unique perspective beneficial for the [White Collar Position] at [Company].

Including a Career Change Statement on Your Resume/CV

While your cover letter is the ideal place to elaborate on your career change, your resume/CV should also reflect this transition. A brief career change statement, positioned at the beginning of your resume, can effectively set the context for your career narrative. This statement should succinctly convey your transition, emphasizing your commitment to the new field and highlighting any transferable skills or relevant experiences.

How to Craft a Career Change Statement for Your Resume

1. Objective Statement: Begin with a clear, concise objective that outlines your career goals and demonstrates your enthusiasm for your new field.

2. Summary of Qualifications: Follow your objective with a brief summary of your most relevant qualifications, focusing on skills and experiences that transition well into your new career.

3. Highlight Transferable Skills: Clearly identify and emphasize any skills from your previous career that are pertinent to your new path. This not only demonstrates your capability but also shows your proactive approach in aligning your skill set with the new role's requirements.

4. Tailor Your Experience: Adjust the descriptions of your past positions to highlight the responsibilities and achievements most relevant to your desired career path. Use quantifiable achievements to underscore your adaptability and impact.

5. Education and Training: If you have pursued any education or training relevant to your new field, highlight this prominently on your resume to illustrate your dedication and commitment to your career change.

Make Your Language Unique

To avoid sounding like everyone else, remember to use distinctive and precise adjectives in your cover letter and resume. For instance:

• Instead of "experienced," try "seasoned" or "accomplished," providing specific examples that demonstrate this experience, like spearheading a successful project or leading a team to exceed its targets.
• Replace "passionate" with "enthused" or "committed," detailing a project or initiative you pursued with zeal, which can resonate more authentically with hiring managers.
• Substitute "results-driven" with "outcome-focused," illustrating this with a particular scenario where your focus on results led to tangible success for your organization.

Your cover letter and resume are your advocates, narrating your professional journey and articulating why you are not just seeking a new job, but embarking on a new career with purpose and passion. By carefully crafting these documents to reflect your individual story, you position yourself as a memorable and compelling candidate, someone who stands out from the crowd.

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I invest on behalf of my clients.

I consult or invest on behalf of a financial institution.

I want to learn more about BlackRock.

Larry Fink’s 2024 Annual Chairman’s Letter to Investors

Time to rethink retirement.

When my mom passed away in 2012, my dad started to decline quickly, and my brother and I had to go through my parents’ bills and finances.

Both my mom and dad worked great jobs for 50 years, but they were never in the top tax bracket. My mom taught English at the local state college (Cal Northridge), and my dad owned a shoe store.

I don’t know exactly how much they made every year, but in today’s dollars, it was probably not more than $150,000 as a couple. So, my brother and I were surprised when we saw the size of our parents' retirement savings. It was an order of magnitude bigger than you’d expect for a couple making their income. And when we finished going over their estate, we learned why: My parents' investments.

My dad had always been an enthusiastic investor. He encouraged me to buy my first stock (the DuPont chemical company) as a teenager. My dad invested because he knew that whatever money he put in the bond or stock markets would likely grow faster than in the bank. And he was right.

I went back and did the math. If my parents had $1,000 to invest in 1960, and they put that money in the S&P 500, then by the time they’d reached retirement age in 1990, the $1,000 would be worth nearly $20,000. 1 That’s more than double what they would have earned if they’d just put the money in a bank account. My dad passed away a few months after my mom, in his late 80s. But both my parents could have lived beyond 100 and comfortably afforded it.

Why am I writing about my parents? Because going over their finances showed me something about my own career in finance. I had been working at BlackRock for almost 25 years by the time I lost my mom and dad, but the experience reminded me — in a new and very personal way — why my business partners and I founded BlackRock in the first place.

Obviously, we were ambitious entrepreneurs, and we wanted to build a big, successful company. But we also wanted to help people retire like my parents did. That’s why we started an asset manager — a company that helps people invest in the capital markets — because we believed participating in those markets was going to be crucial for people who wanted to retire comfortably and financially secure.

We also believed the capital markets would become a bigger and bigger part of the global economy. If more people could invest in the capital markets, it would create a virtuous economic cycle, fueling growth for companies and countries, which would, in turn, generate wealth for millions more people.

My parents lived their final years with dignity and financial freedom. Most people don’t have that chance. But they can. The same kinds of markets that helped my parents in their time can help others in our time.  Indeed, I think the growth- and prosperity-generating power of the   capital markets will remain a dominant economic trend through the rest of the 21 st  Century.

This letter attempts to explain why.

I had been working at BlackRock for almost 25 years by the time I lost my mom and dad, but the experience reminded me — in a new and very personal way — why my business partners and I founded BlackRock in the first place.

A brief (and admittedly incomplete) history of U.S. capital markets

In finance, there are two basic ways to get or grow money.

One is the bank, which is what most people historically relied on. They deposited their savings to earn interest or took out loans to buy a home or expand their business. But over time a second avenue for financing arose, particularly in the U.S., with the growth of the capital markets: Publicly traded stocks, bonds, and other securities.

I saw this firsthand in the late 1970s and early 1980s when I played a role in the creation of the securitization market for mortgages.

Before the 1970s, most people secured financing for their homes the same way they did in the Christmas classic It’s a Wonderful Life — through the Building & Loan (B&L). Customers deposited their savings into the B&L, which was essentially a bank. Then that bank would turn around and lend out those savings in the form of mortgages.

In the movie — and in real life — everything works fine until people start lining up at the bank’s front door asking for their deposits back. As Jimmy Stewart explained in the film, the bank didn’t have their money. It was tied up in somebody else’s house.

After the Great Depression, B&Ls morphed into savings & loans (S&Ls), which had their own crisis in the 1980s. Approximately half of the outstanding home mortgages in the U.S. were held by S&Ls in 1980, and poor risk management and loose lending practices led to a raft of failures costing U.S. taxpayers more than $100 billion dollars. 2

But the S&L crisis didn’t cause the American economy lasting damage. Why? Because at the same time the S&Ls were collapsing another method of financing was getting stronger. The capital markets were providing an avenue to channel capital back to challenged real estate markets.

This was mortgage securitization.

Securitization allowed banks not just to make mortgages but to sell them. By selling mortgages, banks could better manage risk on their balance sheets and have capital to lend to home buyers, which is why the S&L crisis didn’t severely impact American homeownership. 

Eventually, the excesses of mortgage securitization contributed to the crash in 2008, and unlike the S&L crisis, the Great Recession did harm home ownership in the U.S. The country still hasn’t fully recovered in that respect. But the broader underlying trend — the expansion of the capital markets — was still very helpful for the American economy.

In fact, it’s worth considering: Why did the U.S. rebound from 2008 faster than almost any other developed nation? 3

A big part of the answer is the country’s capital markets .

In Europe, where most assets were kept in banks, economies froze as banks were forced to shrink their balance sheets. Of course, U.S. banks had to tighten capital standards and pull back from lending as well. But because the U.S. had a more robust secondary pool of money – the capital markets — the nation was able to recover much more quickly.

Today public equities and bonds provide over 70% of financing for non-financial corporations in the U.S. – more than any other country in the world. In China, for example, the bank-to-capital market ratio is almost flipped. Chinese companies rely on bank loans for 65% of their financing. 4

In my opinion, this is the most important lesson in recent economic history:  Countries aiming for prosperity don’t just need strong banking systems — they also need strong capital markets.

That lesson is now spreading around the world.

Replicating the success of America’s capital markets

Last year, I spent a lot of days on the road, logging visits to 17 different countries. I met with clients and employees. I also met with many policymakers and heads of state, and during those meetings, the most frequent conversation I had was about the capital markets.

More and more countries recognize the power of American capital markets and want to build their own.

Of course, many countries do have capital markets already. There are something like 80 stock exchanges around the world, everywhere from Kuala Lumpur to Johannesburg. 5  But most of these are rather small, with little investment. They’re not as robust as the markets in the U.S., and that’s what other nations are increasingly looking for.

In Saudi Arabia, for example, the government is interested in building a market for mortgage securitization, while Japan and India want to give people new places to put their savings. Today, in Japan, it’s mostly the bank. In India, it’s often in gold.

When I visited India in November, I met policymakers who lamented their fellow citizens’ fondness for gold. The commodity has underperformed the Indian stock market, proving a subpar investment for individual investors. Nor has investing in gold helped the country’s economy.

Compare investing in gold with, let’s say, investing in a new house. When you buy a home, that creates an economic multiplier effect because you need to furnish and repair the house. Maybe you have a family and fill the house with children. All that generates economic activity. Even when someone puts their money in a bank, there’s a multiplier effect because the bank can use that money to fund a mortgage. But gold? It just sits in a safe. It can be a good store of value, but gold doesn’t generate economic growth.

This is a small illustration — but a good one — of what countries want to accomplish with robust capital markets. (Or rather, of what they  can’t accomplish without them.)

Despite the anti-capitalist strain in our modern politics, most world leaders still see the obvious: No other force can lift more people from poverty or improve quality of life quite like capitalism. No other economic model can help us achieve our highest hopes for financial freedom — whether we want it for ourselves or our country.

That’s why the capital markets will be key to addressing two of the mid-21 st Century’s biggest economic challenges.

• The first is providing people what my parents built over time — a secure, well-earned retirement. This is a much harder proposition than it was 30 years ago. And it’ll be a much harder proposition 30 years from now . People are living longer lives. They’ll need more money. The capital markets can provide it — so long as governments and companies help people invest.
• A second challenge is infrastructure. How are we going to build the massive amount the world needs? As countries decarbonize and digitize their economies, they’re supercharging demand for all sorts of infrastructure, from telecom networks to new ways to generate power. In fact, in my nearly 50 years in finance, I’ve never seen more demand for energy infrastructure. And that’s because many countries have twin aims: They want to transition to lower-carbon sources of power while also achieving energy security. The capital markets can help countries meet their energy goals, including decarbonization, in an affordable way.

[Retirement] is a much harder proposition than it was 30 years ago. And it’ll be a much harder proposition 30 years from now .

Asking the old age question: How do we afford longer lives?

Last year, Japan passed a demographic milestone. The country’s population has been aging since the early 1990s as the pool of working-age people has shrunk and the number of elderly has risen. But 2023 was the first time that 10% of their people exceeded 80 years old, 6 making Japan the “oldest country in the world” according to the United Nations. 7

This is part of the reason the Japanese government is making a push for retirement investment.

Most Japanese keep the bulk of their retirement savings in banks, earning a low interest rate. It wasn’t such a bad strategy when Japan was suffering from deflation, but now the country’s economy has turned around, with the NIKKEI surging past 40,000 for the first time this month (March 2024). 8

Most aspiring retirees are missing out on the upswing. The country didn’t have anything resembling a 401(k) program until 2001, but even then, the amount of income people could contribute was quite low. So a decade ago, the government launched the Nippon Individual Savings Accounts (NISA) to encourage people to invest even more in retirement. Now they’re trying to double NISA’s enrollment. The goal is 34 million Japanese investors before the end of the decade. 9 It will require the Japanese government to expand their capital markets, which historically had very little retail participation.

Japan isn’t alone in helping more of its citizens invest for retirement. BlackRock has a joint venture — Jio BlackRock — with Jio Financial Services, an affiliate of India’s Reliance Industries. Over the past 10 years, India has built a huge digital public infrastructure network that connects nearly one billion Indians to everything from healthcare to government payments via their smartphones. Jio BlackRock’s goal is to use the same infrastructure to deliver retirement investing (and more).

After all, India is aging, too. The whole world is, albeit at different speeds. Brazil will start seeing more people leave its workforce than enter it by 2035; Mexico will reach peak workforce by 2040; India sometime around 2050.

As populations age, building retirement savings has never been more urgent

Source: Working-age population (ages 15-64): UN “medium trend 10

By the mid-century mark, one-in-six people globally will be over the age of 65, up from one-in-11 in 2019. 11 To support them, governments are going to have to prioritize building out robust capital markets like the U.S. has.

But this isn’t to say the U.S. retirement system is perfect. I’m not sure anybody believes that. The retirement system in America needs modernizing, at the very least.

Rethinking retirement in the United States

This was particularly clear last year as the biotech industry pumped out a rush of new, life-extending drugs. Obesity, for example, can take more than 10 years off someone’s life expectancy, which is why some researchers think that new pharmaceuticals like Ozempic and Wegovy can be life-extending drugs, not just weight-loss drugs. 12 In fact, a recent study shows that semaglutide, the generic name for Ozempic, can give people with cardiovascular disease an extra two years of life where they don’t suffer a major condition like a heart attack. 13

We focus a tremendous amount of energy on helping people live longer lives. But not even a fraction of that effort is spent helping people afford those extra years.

These drugs are breakthroughs. But they underscore a frustrating irony: As a society, we focus a tremendous amount of energy on helping people live longer lives. But not even a fraction of that effort is spent helping people afford those extra years.

It wasn’t always this way. One reason my parents had a financially secure retirement was CalPERS, California’s state pension system. As a public university employee, my mom could enroll. But pension enrollment has been declining across the country since the 1980s. 14 Meanwhile the federal government has prioritized maintaining entitlement benefits for people my age (I’m 71) even though it might mean that Social Security will struggle to meet its full obligations when younger workers retire.

It’s no wonder younger generations, Millennials and Gen Z, are so economically anxious. They believe my generation — the Baby Boomers — have focused on their own financial well-being to the detriment of who comes next. And in the case of retirement, they’re right.

Today in America, the retirement message that the government and companies tell their workers is effectively: “You’re on your own.” And before my generation fully disappears from positions of corporate and political leadership, we have an obligation to change that.

Maybe once a decade, the U.S. faces a problem so big and urgent that government and corporate leaders stop business as usual. They step out of their silos and sit around the same table to find a solution. I participated in something like this after 2008, when the government needed to find a way to unwind the toxic assets from the mortgage crisis. More recently, tech CEOs and the federal government came together to address the fragility of America’s semiconductor supply chain. We need to do something similar for the retirement crisis. America needs an organized, high-level effort to ensure that future generations can live out their final years with dignity.

What should that national effort do? I don’t have all the answers. But what I do have is some data and the beginnings of a few ideas from BlackRock’s work. Because our core business is retirement.

More than half the assets BlackRock manages are for retirement. 15 We help about 35 million Americans invest for life after work, 16 which amounts to about a quarter of the country’s workers. 17 Many are educators like my mom was. BlackRock helps manage pension assets for roughly half of U.S. public school teachers. 18 And this work — and our similar work around the globe — has given us some insight into how a national initiative to modernize retirement might begin.

We think the conversation starts by looking at the challenge through three different lenses. 

• What’s the issue from the perspective of a current worker , someone who’s still trying to save for retirement?
• What about someone who has already retired? We have to look at the problem from the retiree’s point of view­­­­­­­­­­ — an individual who has already saved enough to stop working but is worried the money will run out.
• But first it’s important to look at retirement in America like you’d look at a map of America — a high-level picture of the problem, the kind a national policymaker might look at. What’s the issue for the population as a whole? (It’s demographics.)

[Young people] believe my generation — the Baby Boomers — have focused on their own financial well-being to the detriment of who comes next. And in the case of retirement, they’re right.

The demographics don’t lie

There’s a popular saying in economics: “You just can’t fight demographics.” And yet, when it comes to retirement, the U.S. is trying anyway.

In wealthy countries, most retirement systems have three pillars. One is what people invest personally (my dad putting his money in the stock market). Another is the plans provided by employers (my mom’s CalPERS pension). A third component is what we hear politicians mostly talking about – the government safety net. In the U.S., this is Social Security.

You’re probably familiar with the economics behind Social Security. During your working years, the government takes a portion of your income, then after you retire, it sends you a check every month. The idea actually originates from pre-World War I Germany, and these “old-age insurance” programs gradually became popular over the 20 th Century largely because the demographics made sense.

Think about someone who was 65 years old in 1952, the year I was born. If he hadn’t retired already, that person was probably getting ready to stop working.

But now think about that person’s former colleagues, all the people around his age who he’d entered the workforce with back in the 1910s. The data shows that in 1952, most of those people were not preparing for retirement because they’d already passed away .

This is how the Social Security program functioned: More than half the people who worked and paid into the system never lived to retire and be paid from the system. 19

Today, these demographics have completely unraveled, and this unraveling is obviously a wonderful thing. We should want more people to live more years. But we can’t overlook the massive impact on the country’s retirement system.

It’s not just that more people are retiring in America; it’s also that their retirements are increasing in length. Today, if you’re married and both you and your spouse are over the age of 65, there’s a 50/50 chance at least one of you will be receiving a Social Security check until you’re 90. 20

All this is putting the U.S. retirement system under immense strain. The Social Security Administration itself says that by 2034, it won’t be able to pay people their full benefits. 21

What’s the solution here? No one should have to work longer than they want to. But I do think it’s a bit crazy that our anchor idea for the right retirement age — 65 years old — originates from the time of the Ottoman Empire.

Humanity has changed over the past 120 years. So must our conception of retirement.

One nation that’s rethought retirement is the Netherlands. In order to keep their state pension affordable, the Dutch decided more than 10 years ago to gradually raise the retirement age. It will now automatically adjust as the country’s life expectancy changes. 22

Obviously, implementing this policy elsewhere would be a massive political undertaking. But my point is that we should start having the conversation . When people are regularly living past 90, what should the average retirement age be?

Or rather than pushing back when people receive retirement benefits, perhaps there’s a more politically palatable idea: How do we encourage more people who wish to work longer with carrots rather than sticks? What if the government and the private sector treated 60-plus year-olds as late-career workers with much to offer rather than people who should retire?

One way Japan has managed its aging economy is by doing exactly this. They’ve found new ways to boost the labor force participation rate, a metric that has been declining in the U.S. since the early 2000s. 23 It’s worth asking: How can America stop (or at least, slow) that trend?

Again, I’m not pretending to have the answers. Despite BlackRock’s success helping millions retire, these questions are going to have to be posed to a broader range of investors, retirees, policymakers, and others. Over the next few months, BlackRock will be announcing a series of partnerships and initiatives to do just that, and I invite you to join us.

For workers, make investing (almost) automatic

When the U.S. Census Bureau released its regular survey of consumer finances in 2022, nearly half of Americans aged 55 to 65 reported not having a single dollar saved in personal retirement accounts. 24 Nothing in a pension. Zero in an IRA or 401(k).

Why? Well, the first barrier to retirement investing is affordability.

Four-in-10 Americans don’t have $400 to spare to cover an emergency like a car repair or hospital visit. 25 Who is going to invest money for a retirement 30 years away if they don’t have cash for today? No one. That’s why BlackRock’s foundation has worked with a group of nonprofits to set up an Emergency Savings Initiative. The program has helped mostly low-income Americans put away a total of $2 billion in new liquid savings. 26

Studies show that when people have emergency savings, they’re 70% more likely to invest for retirement. 27 But this is where workers run into another barrier: Investing is complex even if you can afford it.

No one is born a natural investor. It’s important to say that because sometimes in the financial services industry we imply the opposite. We make it seem like saving for retirement can be a simple task, something anyone can do with a bit of practice, like driving your car to work. Just grab your keys and hop in the driver’s seat. But financing retirement isn’t so intuitive. The better analogy is if someone dropped a bunch of engine and auto parts in your driveway and said, “Figure it out.”

At BlackRock, we’ve tried to make the investing process more intuitive by inventing simpler products like target date funds. They only require people to make one decision: What year do they expect to retire? Once people choose their “target date,” the fund automatically adjusts their portfolio, shifting from higher-return equities to less risky bonds as retirement approaches. 28

In 2023, BlackRock expanded the types of target date ETFs we offer so people can more easily buy them even if they don’t work for employers offering a retirement plan. There are 57 million people like this in America — farmers, gig workers, restaurant employees, independent contractors — who don’t have access to a defined contribution plan. 29 And while better investment products can help, there are limits to what something like a target date fund can do. Indeed, for most people, the data shows that the hardest part of retirement investing is just getting started.

Other nations make things simpler for their part-time and contract workers. In Australia, employers must contribute a portion of income for every worker between the ages of 18 and 70 into a retirement account, which then belongs to the employee. The Superannuation Guarantee was introduced in 1992 when the country seemed like it was on the path to a retirement crisis. Thirty-two years later, Australians likely have more retirement savings per capita than any other country. The nation has the world’s 54 th largest population, 30 but the 4 th largest retirement system. 31

Of course, every country is different, so every retirement system should be different. But Australia’s experience with Supers could be a good model for American policymakers to study and build on. Some already are. There are about 20 U.S. states — like Colorado and Virginia — that have instituted retirement systems to cover all workers like Australia does, even if they’re gig or part-time. 32

It’s a good thing that legislators are proposing different bills and states are becoming “laboratories of retirement.” More should consider it. The benefits could be enormous for individual retirees. These new programs could also help the U.S. ensure the long-term solvency of Social Security. That’s what Australia found — their Superannuation Guarantee relieved the financial tension in their country’s public pension program. 33

But what about workers who do have access to an employer retirement plan? They need support too.

Even among employees who have access to employer plans, 17% don’t enroll in them, and the hypothesis among retirement experts is this is not a conscious choice. People are just busy.

It sounds trivial, but even the hour or so it takes someone to look through their work email inbox for the correct link to their company’s retirement system, and then select the percentage of their income they want to contribute can be the unclearable hurdle. That’s why companies should make a conscious effort to look at what their default option is. Are people automatically enrolled in a plan or not? And how much are they auto-enrolled to contribute? Is it a minimum percentage of their income? Or the maximum?

In 2017, the University of Chicago economist Richard Thaler won the Nobel Prize, in part, for his pioneering work around “nudges” — small changes in policy that can have enormous impact in people’s financial lives. Auto-enrollment is one of them. Studies show that the simple step of making enrollment automatic increases retirement plan participation by nearly 50%. 34

As a nation, we should do everything we can to make retirement investing more automatic for workers. And there are already bright spots. Next year, a new federal law will kick in, requiring employers that set up new 401(k) plans to auto-enroll their new workers. Plus, there are hundreds of major companies (including BlackRock) that have already taken this step voluntarily.

But firms can do even more to improve their employee’s financial lives, such as providing some level of matching funds for retirement plans and offering more financial education on the tremendous long-term difference between contributing a small percentage of your income to retirement versus the maximum. I also think we should make it easier for workers to transfer their 401(k) savings when they switch jobs. There is a menu of options here, and we need to explore all of them.

For retirees, help them spend what they saved

In 2018, BlackRock commissioned a study of 1,150 American retirees. When we dug into the data, we found something unexpected — even paradoxical.

The survey showed that after nearly two decades of retirement, the average person still had 80% of their pre-retirement money saved. We’re talking about people who were probably between the ages of 75 and 95. If they had invested for retirement, they were likely sitting on more than enough money for the rest of their lives. And yet the data also showed that they were anxious about their finances. Only 32% reported feeling comfortable about spending what they saved. 35

This retirement paradox has a simple explanation: Even people who know how to save for retirement still don’t know how to spend for it.

In the U.S., this problem’s roots stretch back more than four decades when employers began switching from defined benefit plans — pensions — to defined contribution plans like 401(k)s.

In a lot of ways, pensions were much simpler than the 401(k). You had a job somewhere for 20 or 30 years. Then when you retired, your pension paid you a set amount — a defined benefit — every month.

When I entered the workforce in the 1970s, 38% of Americans had one of these defined benefit plans, but by 2008 the percentage had been cut almost in half. 36 Meanwhile, the fraction of Americans with defined contribution plans almost quadrupled. 37

This should have been a good thing. Beginning with the Baby Boomers, fewer and fewer workers spent their entire careers in one place, meaning they needed a retirement option that would follow them from job to job. In theory, 401(k)s did that. But in practice? Not really.

Anyone who’s switched jobs knows how unintuitive it is to transfer your retirement savings. In fact, studies show that about 40% of employees cash out their 401(k)s when they switch jobs, putting themselves back at the starting line for retirement savings. 38

The real drawback of defined contribution was that it removed most of the retirement responsibility from employers and put it squarely on the shoulders of the employees themselves. With pensions, companies had a very clear obligation to their workers. Their retirement money was a financial liability on the corporate balance sheet. Companies knew they’d have to write a check every month to each one of their retirees. But defined contribution plans ended that, forcing retirees to trade a steady stream of income for an impossible math problem.

Because most defined contribution accounts don’t come with instructions for how much you can take out every month, individual savers first must build up a nest-egg, then spend down at a rate that will last them the rest of their lives. But who really knows how long that will be?

Put simply, the shift from defined benefit to defined contribution has been, for most people, a shift from financial certainty to financial un certainty .

That’s why around the same time we saw the data that retirees were nervous about spending their savings, we started wondering: Was there something we can do about it? Could we develop an investment strategy that provided the flexibility of a 401(k) investment but also the potential for a predictable, paycheck-like income stream, similar to a pension?

It turns out, we could. That strategy is called LifePath Paycheck™, which will go live in April. As I write this, 14 retirement plan sponsors are planning to make LifePath Paycheck™ available to 500,000 employees. I believe it will one day be the most used investment strategy in defined contribution plans.

We’re talking about a revolution in retirement. And while it may happen in the U.S. first, eventually other countries will benefit from the innovation as well. At least, that is my hope. Because while retirement is mainly a saving challenge, the data is clear: It’s a spending one too.

Fear vs. hope

Before I conclude this section on retirement, I want to share a few words about one of the largest barriers to investing for the future. In my view, it’s not just affordability or complexity or the fact that people are too busy to enroll in their employer’s plan.

Arguably the biggest barrier to investing for retirement — or for anything — is fear.

In finance, we sometimes think of “fear” as a fuzzy, emotional concept — not as a hard economic data point. But that’s what it is. Fear is as important and actionable a metric as GDP. After all, investment (or lack thereof) is just a measure of fear because no one lets their money sit in a stock or a bond for 30 or 40 years if they’re afraid the future is going to be worse than the present. That’s when they put their money in a bank. Or underneath the mattress.

This is what happens in many countries. In China, where new surveys show consumer confidence has dropped to its lowest level in decades, household savings have reached their highest level on record — nearly $20 trillion — according to the central bank. 39 China has a savings rate of about 30%. Nearly a third of all money earned is socked away in cash in case it’s needed for harder times ahead. The U.S., by comparison, has a savings rate in the single digits. 40

America has rarely been a fearful country. Hope has been the nation’s greatest economic asset. People put their money in American markets for the same reason they invest in their homes and businesses — because they believe this country will be better tomorrow than it is today.

This big, hopeful America has been the one I’ve known my whole life, but over the past few years, especially as I’ve had more grandchildren, I’ve started to ask myself: Will they know this version of America, too?

As I was finishing this letter, The Wall Street Journal published an article that caught my attention. It was titled “The Rough Years that Turned Gen Z into America’s Most Disillusioned Voters,” and it included some eye-catching — and really disheartening — data.

The article showed that from the mid-1990s through most of the early 21 st Century, most young people — around 60% of high school seniors, to be specific — believed they’d earn a professional degree, would land a good job, and go on to be wealthier than their parents. They were optimistic. But since the pandemic, that optimism has fallen precipitously.

Compared with 20 years ago, the current cohort of young Americans is 50% more likely to question whether life has a purpose. Four-in-10 say it’s “hard to have hope for the world.” 41

I’ve been working in finance for almost 50 years. I’ve seen a lot of numbers. But no single data point has ever concerned me more than this one.

The lack of hope worries me as a CEO. It worries me as a grandfather. But most of all, it worries me as an American.

If future generations don’t feel hopeful about this country and their future in it, then the U.S. doesn’t only lose the force that makes people want to invest. America will lose what makes it America. Without hope, we risk becoming just another place where people look at the incentive structure before them and decide that the safe choice is the only choice. We risk becoming a country where people keep their money under the mattress and their dreams bottled up in their bedroom.

How do we get our hope back?

Whether we’re trying to solve retirement or any other problem, that is the first question we have to ask, although I readily admit that I do not have the solution. I look at the state of America — and the world — and I am as answerless as everyone else. There’s so much anger and division, and I often struggle to wrap my head around it.

What I do know is that any answer has to start by bringing young people into the fold. The same surveys that show their lack of hope also show their lack of confidence — far less than any previous generation — in every pillar of society: In politics, government, the media, and in corporations. Leaders of these institutions (I am one) should be empathetic to their concerns.

Young people have lost trust in older generations. The burden is on us to get it back. And maybe investing for their long-term goals, including retirement, isn’t such a bad place to begin.

Perhaps the best way to start building hope is by telling young people, “You may not feel very hopeful about your future. But we do. And we’re going to help you invest in it.”

Young people have lost trust in older generations. The burden is on us to get it back. And maybe investing for their long-term goals, including retirement, isn’t such a bad place to begin.

The new infrastructure blueprint: Steel, concrete, and public-private partnership

I started traveling to London in the 1980s, and back then, if you had a choice between the city’s two major international airports — Heathrow or Gatwick — you probably chose Heathrow. Gatwick was farther from the city. It was also in a comparative state of disrepair.

But things changed in 2009 when Gatwick was purchased by Global Infrastructure Partners (GIP). They increased runway capacity and instituted commonsense changes, like oversized luggage trays that cut security screening times by more than half.

“The thing about infrastructure businesses... is a lot of them tend not to focus on customer service,” GIP’s CEO Bayo Ogunlesi told the Financial Times . GIP wanted to make Gatwick different. In the process, they also turned the airport into a prime example of how infrastructure will be built and run in the 21 st Century — with private capital. 42

In the U.S., people tend to think of infrastructure as a government endeavor, something built with taxpayer funds. But because of one very big reason that I’ll dive into momentarily, that won’t be the primary way infrastructure is built in the mid-21 st Century. Rather than only tapping government treasuries to build bridges, power grids, and airports, the world will do what Gatwick did.

The future of infrastructure is public-private partnership.

Debt matters

The $1 trillion infrastructure sector is one of the fastest growing segments of the private markets, and there are some undeniable macroeconomic trends driving this growth. In developing countries, people are getting richer, boosting demand for everything from energy to transportation while in wealthy countries, governments need to both build new infrastructure and repair the old.

Even in the U.S., where the Biden Administration has signed generational infrastructure investments into law, there’s still $2 trillion worth of deferred maintenance. 43

How will we pay for all this infrastructure? The reason I believe it’ll have to be some combination of public and private dollars is that funding probably cannot come from the government alone. The debt is just too high.

From Italy to South Africa, many nations are suffering the highest debt burdens in their history. Public debt has tripled since the mid-1970s, reaching 92% of global GDP in 2022. 44 And in America, the situation is more urgent than I can ever remember. Since the start of the pandemic, the U.S. has issued roughly $11.1 trillion of new debt, and the amount is only part of the issue. 45 There’s also the interest rate the Treasury needs to pay on it.

Three years ago, the rate on a 10-year Treasury bill was under 1%. But as I write this, it’s over 4%, and that 3-percentage-point increase is very dangerous. Should the current rates hold, it amounts to an extra trillion dollars in interest payments over the next decade. 46

Why is this debt a problem now? Because historically, America has paid for old debt by issuing new debt in the form of Treasury securities. It’s a workable strategy so long as people want to buy those securities — but going forward, the U.S. cannot take for granted that investors will want to buy them in such volume or at the premium they currently do.

Today, around 30% of U.S. Treasury securities are held by foreign governments or investors. That percentage will likely go down as more countries build their own capital markets and invest domestically. 47

More leaders should pay attention to America’s snowballing debt. There’s a bad scenario where the American economy starts looking like Japan’s in the late 1990s and early 2000s, when debt exceeded GDP and led to periods of austerity and stagnation. A high-debt America would also be one where it’s much harder to fight inflation since monetary policymakers could not raise rates without dramatically adding to an already unsustainable debt-servicing bill.

But is a debt crisis inevitable? No.

While fiscal discipline can help tame debt on the margins, it will be very difficult (both politically and mathematically) to raise taxes or cut spending at the level America would need to dramatically reduce the debt. But there is another way out beyond taxing or cutting, and that’s growth. If U.S. GDP grows at an average of 3% (in real, not nominal terms) over the next five years, that would keep the country’s debt-to-GDP ratio at 120% – high, but reasonable.

I should be clear: 3% growth is a very tall order, especially given the country’s aging workforce. It will require policymakers to shift their focus. We can’t see debt as a problem that can be solved only through taxing and spending cuts anymore. Instead, America’s debt efforts have to center around pro-growth policies , which include tapping the capital markets to build one of the best catalysts for growth: Infrastructure. Especially energy infrastructure.

Energy pragmatism

Roads. Bridges. Ports. Airports. Cell towers. The infrastructure sector contains multitudes, but the multitude where BlackRock sees arguably the greatest demand for new investment is energy infrastructure.

Why energy? Two things are happening in the sector at the same time.

The first is the “energy transition.” It’s a mega force, a major economic trend being driven by nations representing 90% of the world’s GDP. 48 With wind and solar power now cheaper in many places than fossil-fuel-generated electricity, these countries are increasingly installing renewables. 49 It’s also a major way to address climate change. This shift – or energy transition – has created a ripple effect in the markets, creating both risks and opportunities for investors, including BlackRock’s clients.

I started writing about the transition in 2020. Since then, the issue has become more contentious in the U.S. But outside the debate, much is still the same. People are still investing heavily in decarbonization. In Europe, for example, net-zero remains a top investment priority for most of BlackRock’s clients. 50 But now the demand for clean energy is being amplified by something else: A focus on energy security.

Governments have been pursuing energy security since the oil crisis of the 1970s, (and probably as far back as the early Industrial Revolution), so this is not a new trend. In fact, when I wrote my original 2020 letter about sustainability, I also wrote to our clients that countries would still need to produce oil and gas to meet their energy needs. 

To be energy secure, I wrote, most parts of the globe would need “to rely on hydrocarbons for a number of years.” 51

I’m hearing more leaders talk about decarbonization and energy security together under the joint banner of what you might call “energy pragmatism.”

Then in 2022, Putin invaded Ukraine. The war lit a fresh spark under the idea of energy security. It disrupted the world’s supply of oil and gas causing massive energy inflation, particularly in Europe. The UK, Norway, and the 27 EU countries had to collectively spend 800 billion euros subsidizing energy bills. 52

This is part of the reason I’m hearing more leaders talk about decarbonization and energy security together under the joint banner of what you might call “energy pragmatism.”

Last year, as I mentioned, I visited 17 countries, and I spent a lot of time talking to the people who are responsible for powering homes and businesses, everybody from prime ministers to energy grid operators. The message I heard was completely opposite to what you often hear from activists on the far left and right who say that countries have to choose between renewables and oil and gas. These leaders believe that the world still needs both. They were far more pragmatic about energy than dogmatic. Even the most climate conscious among them saw that their long-term path to decarbonization will include hydrocarbons, albeit less of them, for some time to come.

Germany is a good example of how energy pragmatism is still a path to decarbonization. It’s one of the countries most committed to fighting climate change and has made enormous investments in wind and solar power. But sometimes the wind doesn’t blow in Berlin, and the sun doesn’t shine in Munich. And during those windless, sunless periods, the country still needs to rely on natural gas for “dispatchable power.” Germany used to get that gas from Russia, but now it needs to look elsewhere. So, they’re building additional gas facilities to import from other producers around the world. 53

Or look at Texas. They face a similar energy challenge – not because of Russia but because of the economy. The state is one of the fastest growing in the U.S., 54 and the additional demand for power is stretching ERCOT, Texas’ energy grid, to the limit. 55

Today, Texas runs on 28% renewable energy 56 – 6% more than the U.S. as a whole. 57 But without an additional 10 gigawatts of dispatchable power, which might need to come partially from natural gas, the state could continue to suffer devastating brownouts. In February, BlackRock helped convene a summit of investors and policymakers in Houston to help find a solution.

Texas and Germany are great illustrations of what the energy transition looks like. As I wrote in 2020, the transition will only succeed if it’s “fair.” Nobody will support decarbonization if it means giving up heating their home in the winter or cooling it in the summer. Or if the cost of doing so is prohibitive.

Since 2020, economists have popularized better language to describe what a fair transition actually means. One important concept is the “green premium.” It’s the surcharge people pay for “going green”: for example, switching from a car that runs on gas to an electric vehicle. The lower the green premium, the fairer decarbonization will be because it’ll be more affordable.

This is where the power of the capital markets can be unleashed to great effect. Private investment can help energy companies reduce the cost of their innovations and scale them around the world. Last year, BlackRock invested in over a dozen of these transition projects on behalf of our clients. We partnered with developers in Southeast Asia aiming to build over a gigawatt of solar capacity (enough to power a city) in both Thailand and the Philippines. 58 We also invested in Lake Turkana Wind Power, Africa’s largest windfarm. It’s located in Kenya and currently accounts for about 12% of the country’s power generation. 59

There are also earlier-stage technologies, like a giant “hot rock” battery being built by Antora Energy. The company heats up blocks of carbon with wind or solar power during parts of the day when renewable energy is cheap and abundant. These “thermal batteries” reach up to 2,400 degrees Celsius and glow brighter than the sun. 60 Then, that heat is used to power giant industrial facilities around-the-clock, even when the sun isn’t shining, or the wind isn’t blowing.

BlackRock invested in Antora through Decarbonization Partners, a partnership we have with the investment firm, Temasek. Our funding will help Antora scale up to deliver billions of dollars worth of zero-emission energy to industrial customers. 61 (One day, their thermal batteries might help solve the kind of dispatchable power problem that Texas and Germany are facing – but without carbon emissions.)

The final technology I’ll spotlight is carbon capture. Last year, one of BlackRock’s infrastructure funds invested $550 million in a project called STRATOS, which will be the world’s largest direct air capture facility when construction is completed in 2025. 62 Among the more interesting aspects of the project is who’s building the facility: Occidental Petroleum, the big Texas oil company.

The energy market isn’t divided the way some people think, with a hard split between oil & gas producers on one side and new clean power and climate tech firms on the other. Many companies, like Occidental, do both, which is a major reason BlackRock has never supported divesting from traditional energy firms. They’re pioneers of decarbonization, too.

Today, BlackRock has more than $300 billion invested in traditional energy firms on behalf of our clients. Of that $300 billion, more than half – $170 billion – is in the U.S. 63 We invest in these energy companies for one simple reason: It’s our clients’ money. If they want to invest in hydrocarbons, we give them every opportunity to do it – the same way we invest roughly $138 billion in energy transition strategies for our clients. That’s part of being an asset manager. We follow our clients’ mandates.

But when it comes to energy, I also understand why people have different preferences in the first place. Decarbonization and energy security are the two macroeconomic trends driving the demand for more energy infrastructure. Sometimes they’re competing trends. Other times, they’re complementary, like when the same advanced battery that decarbonizes your grid can also reduce your dependence on foreign power.

The point is: The energy transition is not proceeding in a straight line. As I’ve written many times before, it’s moving in different ways and at different paces in different parts of the world. At BlackRock, our job is to help our clients navigate the big shifts in the energy market no matter where they are.

BlackRock’s next transformation

One way we’re helping our clients navigate the booming infrastructure market is by transforming our company. I began this section by writing about the owners of Gatwick Airport, GIP. In January, BlackRock announced our plans to acquire them. 

Why GIP? BlackRock’s own infrastructure business had been growing rapidly over the past several years. But to meet demand, we realized we needed to grow even faster.

It’s not just debt-strapped governments that need to find alternate pools of financing for their infrastructure. Private sector firms do too. All over the world, there’s a vast infrastructure footprint that’s owned and operated entirely by private companies. Cell towers are a good example. So are pipelines that deliver the feedstocks for chemical companies. Increasingly, the owners of these assets prefer to have a financing partner, rather than carrying the full cost for the infrastructure on their balance sheet.

I had been thinking about this trend and called an old colleague, Bayo Ogunlesi.

Both Bayo and I started our careers in finance at the investment bank First Boston. But our paths diverged. I lost $100 million on a series of bad trades at First Boston and…well, nobody needs to hear that story again. But it led me (and my BlackRock partners) to pioneer better risk management for fixed income markets. Meanwhile, Bayo and his team were pioneering modern infrastructure investing in the private markets.

Now, we plan to join our forces again. I think the result will be better opportunities for our clients to invest in the infrastructure that keeps our lights on, planes flying, trains moving, and our cell service at the maximum number of bars.

More about BlackRock’s work in 2023

In this letter, I’ve shared my view that the capital markets are going to play an even bigger role in the global economy. They’ll have to if the world wants to address the challenges around infrastructure, debt, and retirement. These are the major economic issues of the mid-21st Century. We’re going to need the power of capitalism to solve them.

The way BlackRock figures into that story is through our work with clients. We want to position them well to navigate these trends, which is why we’ve tried to stay more connected to our clients than ever.

Over the past five years, thousands of clients on behalf of millions of individuals have entrusted BlackRock with managing over $1.9 trillion in net new assets. Thousands also use our technology to better understand the risks in their portfolios and support the growth and commercial agility of their own businesses. Years of organic growth, alongside the long-term growth of the capital markets, underpin our $10 trillion of client assets, which grew by over $1.4 trillion in 2023.

In good times and bad, whether clients are focused on increasing or decreasing risk, our consistent industry-leading organic growth demonstrates that clients are consolidating more of their portfolios with BlackRock. In 2023, our clients awarded us with $289 billion in net new assets during a period of rapid change and significant portfolio de-risking.

BlackRock’s differentiated business model has enabled us to continue to grow with our clients and maintain positive organic base fee growth. We’ve grown regardless of the market backdrop and even as most of the industry experienced outflows.

I think back to 2016 and 2018 when uncertainty and cautious sentiment impacted investment behavior among institutions and individuals. Many clients de-risked and moved to cash. BlackRock stayed connected with our clients. We stayed rigorous in driving investment performance, innovating new products and technologies, and providing advice on portfolio design. Once clients were ready to step back into the markets more actively, they did it with BlackRock – leading to new records for client flows, and organic base fee growth at or above our target.

Flows and organic base fee growth accelerated into the end of 2023. We saw $96 billion of total net inflows in the fourth quarter and we entered 2024 with great momentum.

In 2024, I plan to do what I did in 2023 – spend a lot of time on the road visiting clients. I’ve already taken several trips in the U.S. and around the world, and it’s clearer than ever that companies and clients want to work with BlackRock.

For companies where we are investing on behalf of our clients, they appreciate that we typically provide long-term, consistent capital. We often invest early, and we stay invested through cycles whether it’s debt or equity, pre-IPO or post-IPO. Companies recognize BlackRock’s global relationships, brand, and expertise across markets and industries. This makes us a valuable partner, and in turn supports the sourcing and performance we can provide for clients.

Over the past 18 months, we’ve sourced and executed on a number of deals for clients. In addition to the STRATOS direct air capture project, our funds partnered with AT&T on the Gigapower JV to build out broadband in communities across the U.S. We also made investments globally, including in Brasol (Brazil), AirFirst (South Korea), Akaysha Energy (Australia), and the Lake Turkana Wind Farm (Kenya).

Our ability to source deals for clients is a primary driver of demand for BlackRock private markets strategies. These strategies saw $14 billion of net inflows in 2023, driven by infrastructure and private credit. We continue to expect these categories to be our primary growth drivers within alternatives in the coming years.

Our active investment insights, expertise and strong investment performance similarly differentiate BlackRock in the market. We saw nearly $60 billion of active net inflows in 2023, compared with industry outflows.

In ETFs, BlackRock generated an industry-leading $186 billion of net inflows in 2023. Our leadership in the ETF industry is another testament to our global platform and connectivity with clients.

What we have seen in market after market is that if we can make investing easier and more affordable, we can quickly attract new clients. We are leveraging digital wealth platforms in local markets to provide more investment access and accelerate organic growth for iShares ETFs.

In EMEA, BlackRock powers ETF savings plans for end investors, partnering with many banks and brokerage platforms, including Trade Republic, Scalable Capital, ING, Lloyds, and Nordnet. These partnerships will help millions of people access investments, invest for the long-term, and achieve financial well-being.

In 2023, we also announced our minority investment in Upvest, which will help drive innovation in how Europeans access markets and make it cheaper and simpler to start investing.

Then there is our work with Britain’s leading digital bank, Monzo, to offer its customers our products through its app, with minimum investments as low as £1. Through these relationships, we’re evolving our iShares ETF franchise to meaningfully increase access to global markets.

Let me also say a few words about Aladdin. It remains the language of portfolios, uniting all of BlackRock, and providing the technological foundation for how we serve clients across our platform. And Aladdin isn’t just the key technology that powers BlackRock; it also powers many of our clients. The need for integrated data and risk analytics as well as whole portfolio views across public and private markets is driving annual contract value (ACV) growth.

In 2023, we generated $1.5 billion in technology services revenue. Clients are looking to grow and expand with Aladdin, reflected in strong harvesting activity, with over 50% of Aladdin sales being multi-product.

As we look ahead, the re-risking of client portfolios will create tremendous prospects for both our public and private markets franchises. And integrated technology will be needed to help clients be nimble while operating at scale.

These are the times where investors are making broad changes to the way they build portfolios. BlackRock is helping investors build the “portfolio of the future” – one that integrates public and private markets and is digitally enabled. We view these changes as big catalysts. With the diversified investment and technology platform we’ve built, we’ve set ourselves up to be a structural grower in the years ahead.

Positioning our organization for the future

Just as we continually innovate and evolve our business to stay ahead of our clients, we also evolve our organization and our leadership team.

Earlier this year we announced changes to reimagine our business and transform our organization to better anticipate what clients need – and shape BlackRock so clients can continue to get the insights, solutions, and outcomes they expect from us.

For years, BlackRock has worked with clients across the whole portfolio, albeit with distinctions between product structures for ETFs, active mutual funds, and separate accounts.

Now the traditional lines between products are blurring. Clients are building portfolios that seamlessly combine both active and index strategies, including liquid and illiquid assets and spanning public and private markets, across ETF, mutual fund, and separate account structures.

BlackRock has been critical in expanding the market for ETFs by making them accessible to more investors and delivering new asset classes (like bonds) and investment strategies (like active). As a result of that success, the ETF is no longer just an indexing concept – it is becoming an efficient structure for a range of investment solutions.

We always viewed ETFs as a technology, a technology that facilitated investing. And just as our Aladdin technology has become core to asset management, so too have ETFs. That’s why we believe embedding our ETF and Index expertise across the entire firm will accelerate the growth of iShares and every investment strategy at BlackRock.

We’ll be nimbler and more closely aligned with clients through our new architecture with the aim of delivering a better experience, better performance, and better outcomes.

Voting choice

Healthy capital markets depend on a continuous feedback loop between companies and their investors. For more than a decade, BlackRock endeavored to improve that feedback loop for our clients.

We’ve done it by building an industry-leading stewardship program, one that’s focused on engaging investee companies on issues impacting our clients’ long-term economic interests. This requires understanding how companies are positioned to navigate the risks and opportunities they face – for example, how geopolitical fragmentation might rewire their supply chains or how higher borrowing cost might impact their capacity to deliver sustained earnings growth.

To do that, we built one of the largest stewardship teams to engage with companies, often alongside our investment teams, because we never believed in the industry’s reliance on the recommendations of a few proxy advisors. We knew our clients would expect us to make independent proxy voting decisions, informed by our ongoing dialogue with companies – a philosophy that continues to underpin our stewardship efforts today. For our clients who have entrusted us with this important responsibility, we remain steadfast in promoting sound corporate governance practices and financial resilience at investee companies on their behalf.

And for our clients who wish to take a more direct role in the proxy voting process, we continue to innovate to provide them with more choice. In 2022, BlackRock was the first in our industry to launch Voting Choice, a capability that enabled institutional investors to participate in the proxy voting process. Today, about half of our clients’ index equity assets under management can access Voting Choice. And in February, we launched a pilot in our largest core S&P 500 ETF, enabling Voting Choice for individual investors for the first time.

We welcome these additional voices to corporate governance and believe they can further strengthen shareholder democracy. I believe that more asset owners can participate in this important process effectively if they are well-informed. We are encouraged by their engagement and the continued transformation of the proxy voting ecosystem but continue to believe that the industry would benefit from additional proxy advisors.

Strategy for long-term growth

For 36 years, BlackRock has led by listening to our clients and evolving to help them achieve long-term outcomes. That commitment has been behind everything we’ve done as a firm, whether it’s unlocking new markets through iShares, pioneering whole portfolio advisory, launching Aladdin on the desktops of investors and so much more. Clients have been at the foundation of our mindset and our growth strategy, informing the investments we’ve made across our businesses.

The combination of technology and advisory, alongside ETFs, active and private markets capabilities, enables us to deliver a better client experience – leading to clients consolidating more of their portfolios with BlackRock or engaging us for outsourcing solutions. We believe this in turn will drive continued differentiated organic growth into the future.

As we do each year, our management team and Board spent time assessing our strategy for growth. We challenge ourselves to think: What opportunities will this economic environment create for BlackRock and our clients, what more can we do to meet and anticipate their needs? How can we evolve our organization, operating structure, investment capabilities, and service models and, in doing so, keep leading the industry?

We have strong conviction in our strategy and our ability to execute with scale and expense discipline. Our strategy remains centered on growing Aladdin, ETFs, and private markets, keeping alpha at the heart of BlackRock, leading in sustainable investing, and advising clients on their whole portfolio.

We have continually made internal investments for organic growth and efficiency, investing ahead of client opportunities in private markets, ETFs, technology, and whole portfolio solutions.

In private markets, we are prepared to capitalize on structural growth trends. Whether it’s executing on demand for much-needed infrastructure, or the growing role of private credit as banks and public lenders move away from the middle market, private capital will be essential. BlackRock is poised to capture share through our scale, proprietary origination, and track record. And we believe our planned acquisition of GIP will meaningfully accelerate our ability to offer our private markets capabilities to our clients.

In ETFs, we will continue to lead by expanding investment access globally and through innovation. The ETF is an adaptable piece of financial technology, and over time we’ve been able to do more with it than just making investing more affordable. We’ve been able to bring better liquidity and price discovery to more opaque markets. One recent example is offering people exposure to Bitcoin through ETFs.

ETFs have been an incredible growth story in the U.S., with iShares leading the way. We believe global ETF adoption is set to accelerate as catalyst trends that we saw in the U.S. years ago like the growth of fee-based advisory and model portfolios are just beginning to take root. Nearly half of 2023 iShares net inflows were from our ETFs listed internationally in local markets, led by European iShares net inflows of $70 billion.

Active asset allocation, security selection and risk management have consistently been key elements in long-term returns. Our active teams across multi-asset, fixed income and equities are well-positioned to seize on broad opportunities arising out of this new interest rate and potentially more volatile regime. We are particularly excited about the opportunity in fixed income and how artificial intelligence is propelling performance in our systematic investing businesses.

Fixed income is going to be increasingly relevant in the construction of whole portfolios with higher yields and better return potential compared to the low-rate environment of the last 15 years. Now that the rate on 10-year U.S. Treasuries is near long-term averages, clients are reconsidering bond allocations.

BlackRock is well-positioned with a diversified fixed income platform. It’s not going to be just about index, where we manage nearly $1.7 trillion. Or just about active where we manage over $1 trillion. Some of the most interesting portfolio conversations are with allocators who are blending ETFs with active or using innovations like our active ETFs for professionally managed income solutions.

Across asset classes, the need for integrated data, technology and risk management will continue to drive demand for Aladdin. Through its dynamic ecosystem of over 130,000 users, the Aladdin platform is constantly innovating and being improved. Investments in Aladdin AI copilots, enhancements in openness supporting ecosystem partnerships, and advancing whole portfolio solutions are going to further augment the value of Aladdin.

We are honored that our clients entrusted us with $289 billion of net new assets in 2023. And over the past few months, we’ve seen a decidedly more positive sentiment and tone in markets and among clients that I'm very optimistic will carry into the rest of 2024.

Our ability to adapt, evolve, and grow has generated a total return of 9,000% for our shareholders since our IPO in 1999. That is well in excess of the S&P 500 return of 490% and representative of a business model serving all our stakeholders.

Total return since BlackRock’s IPO through December 31, 2023

S&P Global. The performance graph is not necessarily indicative of future investment performance.

Our Board of Directors

BlackRock’s Board plays an integral role in our strategy, our growth and our success.

The diverse experiences and backgrounds of our Directors enable us to have rich discussions and debates. At each meeting, our Directors review components of our long-term strategy and foster constructive dialogue with our leadership team on strategic opportunities, priorities and risks facing BlackRock’s business. This dialogue ultimately pushes us to make the sometimes tactical and sometimes transformational moves to build a better BlackRock. This includes the two transformational moves we made in January: The strategic re-architecture of our organization and our agreement to acquire GIP.

These two transformational changes are the largest since our acquisition of Barclays Global Investors nearly 15 years ago.

Following the closing of the GIP transaction, we plan to have Bayo Ogunlesi join our Board of Directors. We will continue to evolve our Board over time to reflect the breadth of our global business and to guide us as we evolve ahead of our clients’ needs.

A final note

Over the past 36 years, BlackRock has grown from a company of eight people in a tiny Manhattan office into the largest asset manager in the world. But our growth is just a small part of a much larger success story.

It’s part of the same story that includes my parents retiring comfortably after 50 years of hard work. The same story where America was able to endure the 1980s S&L crisis and 2008 financial crisis – and rebound quickly and with growing strength.

And it’s the story that, hopefully, will include more people around the world. Nations that can outgrow their debt. Cities that can afford to power more homes and build more roads. Workers who can live out their golden years with dignity.

All of these stories are only possible because of the power of the capital markets and the people who are hopeful enough to invest in them.

Laurence Fink Chairman and Chief Executive Officer

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1 Based on a $1,000 investment from January 1960 to December 1990. Assumes reinvestment of all dividends. Past performance is not indicative of future results.

2 Federal Reserve History , Savings and Loan Crisis

3 OCED Economic Surveys: United States (2016)

4 Securities Industry and Financial Markets Association , Capital DMarkets Fact Book (2023), p.6

5 World Federation of Exchanges , Market Statistics-February 2024, (2024)

6 World Economic Forum , Ageing and Longevity, (2023)

7 United Nations , World Population Ageing, (2017), p.8

8 The Wall Street Journal , Japan’s Nikkei Tops 40000 for First Time, Driven by AI Optimism, ( 2024)

9 Cabinet Secretariat of Japan , Doubling Asset-based Income Plan, ( 2022), p.2

10 Note: 1. Format adapted from Adele M. Hayutin, New Landscapes of Population Change: A Demographic World Tour (Hoover Press, 2022). Data from United Nations Population Division, World Population Prospects. (latest refresh 2022), Medium Fertility Projection. 2. Peak year is defined as the year in which working age population reaches its maximum for a country. Sources: United Nations Population Statistics (as of 2022). OECD (as of 06/2023). World Bank (as of 2022).

11 United Nations , UN DESA releases new report on ageing , (2019)

12 The New York Times Magazine , Can We Live to 200? ( 2021)

13 National Library of Medicine , Estimated Life-Years Gained Free of New or Recurrent Major Cardiovascular Events With the Addition of Semaglutide to Standard of Care in People With Type 2 Diabetes and High Cardiovascular Risk, ( 2022)

14 Source 1: Bureau of Labor Statistics , Employee Benefits in the United States , (2023), p.1; Source 2: Bureau of Labor Statistics , Employee Benefits in Industry , (1980), p. 6

15 BLK Estimates based on AUM as of December 31 st , 2021 and Cerulli data as of 2020. ETF assets include only qualified assets based on Cerulli data, and assumes 9.5% of institutionally held ETFs are related to pensions or retirement. Institutional estimates includes assets defined as “related to retirement” and are based on products and clients with a specific retirement mandate (e.g., LifePath, pensions). Estimates for LatAm based on assets managed for LatAm Pension Fund clients, excluding cash.

16 BlackRock as of Dec. 31, 2021. The overall number of Americans is calculated based on estimates of participants in BlackRock’s Defined Contribution and Defined Benefit plan clients. The Defined Contribution number is estimated based on data from FERS as well as ISS Market Intelligence BrightScope for active participants across 401(k) and 403(b). Defined Contribution includes plans with over $100M+ in assets where participants have access to one or more BlackRock funds; some may not be invested with BlackRock. The Defined Benefit number is estimated based on data from public filings and Pension & Investments for the total number of participants across the 20 largest U.S. Defined Benefit plans that are not also Defined Contribution clients of BlackRock.

17 U.S. Bureau of Labor Statistics , Labor Force Statistics from the Current Population Survey, (Feb. 2023)

18 Represents the total number of active public schoolteachers enrolled in defined benefit plans with assets managed by BlackRock. Excludes Virginia, Alaska and Pennsylvania pension clients, as the states’ DB plan is not the default plan for its participants. Public school teachers count from the National Center for Education Statistics, projection for 2022 school year. Pensions participation rate based on data from the U.S. Bureau of Labor Statistics: 89% as of March 2022.

19 Social Security , Life Tables for the United States Social Security Area 1900-2100, Figure 3a

20 Social Security , When to Start Receiving Retirement Benefits, (2023), p.2

21 Social Security , Summary: Actuarial Status of the Social Security Trust Funds, (2023)

22 Dutch Government , Why is the state pension age increasing? (translated from Dutch)

23 U.S. Bureau of Labor Statistics , Civilian labor force participation rate, (2000-2024)

24 U.S. Census Bureau , Survey of Income and Program Participation (SIPP) , (2022)

25 Federal Reserve , Economic Well-Being of U.S. Households in 2022, (2023), p.2

26 BlackRock , Emergency Saving Initiative: Impact and Learnings Report, (2019-2022), p.2

27 BlackRock, Emergency Savings Initiative: Impact and Learnings Report, ( 2019-2022), p.12

28 BlackRock , What are target date funds?

29 AARP, New AARP Research: Nearly Half of Americans Do Not Have Access to Retirement Plans at Work, (2022)

30 CIA: The World Factbook , Country Comparisons: Population (2023 est.)

31 OECD , Pensions at a Glance 2023 , (2023), 222

32 Georgetown University Center for Retirement Initiatives , State-Facilitated Retirement Savings Programs: A Snapshot of Program Design Features, (2023)

33 Parliament of Australia , Superannuation and retirement incomes

34 Human Interest , The power of 401(k) automatic enrollment, (2024)

35 BlackRock , To spend or not to spend? (2023), p. 2-5

36 Source 1: The Wall Street Journal, The Champions of the 401(k) Lament the Revolution They Started, (2017); Source 2: Social Security Office of Retirement and Disability Policy, The Disappearing Defined Benefit Pension and Its Potential Impact on the Retirement Incomes of Baby Boomers , (2009)

37 U.S. Chamber of Commerce , Statement of the U.S. Chamber of Commerce, (2012), p. 3

38 Harvard Business Review , Too Many Employees Cash Out Their 401(k)s When Leaving a Job, ( 2023)

39 The Wall Street Journal , Why China’s Middle Class Is Losing Its Confidence, (2024)

40   The Wall Street Journal , Covid-Era Savings are Crucial to China’s Economic Recovery , (2023)

41 The Wall Street Journal , The Rough Years That Turned Gen Z Into America’s Most Disillusioned Voters , (2024)

42 Financial Times , How Adebayo Ogunlesi’s contrarian bet led to $12.5bn BlackRock tie-up , (2024)

43 American Society of Civil Engineers (ASCE ), 2021 Report Card For America’s Infrastructure, (2021), p. 5

44 International Monetary Fund , Global Debt Is Returning to its Rising Trend, (2023)

45 Fiscal Data: U.S. Treasury , Debt to the Penny, ( Debt was $23.4T in March 2020 and $34.5T in March 2024)

46 The Wall Street Journal , A $1 Trillion Conundrum: The U.S. Government’s Mounting Debt Bill, ( 2024)

47 US Department of Treasury , Table 5: Major Foreign Holders of Treasury Securities

48 As of March 2024. Net Zero Tracker, https://zerotracker.net (last visited March 18 th , 2024)

49 Associated Press News , The year in clean energy: Wind, solar and batteries grow despite economic challenges, (2023)

50 BlackRock iResearch Services global survey, sample size n=200, May-June 2023. Survey covered institutional investors’ attitudes, approaches, barriers, and opportunities regarding transition investing. 83% of EMEA respondents surveyed have net zero by 2050 or other date as a transition objective across their portfolio. https://www.blackrock.com/corporate/literature/brochure/global-transition-investing-survey.pdf

51 BlackRock’s 2020 Letter to Clients , Sustainability as BlackRock’s New Standard for Investing, (2020)

52 Reuters , Europe’s spend on energy crisis nears 800 billion euros, (2023)

53 The New York Times , Germany Announces New L.N.G. Facility, Calling It a Green Move from Russian Energy, (2022)

54 Texas Fall 2023 Economic Forecast

55 Federal Reserve Bank of Dallas, Texas electrical grid remains vulnerable to extreme weather events, (2023)

56 U.S. Energy Information Administration : Electricity Data Browser

57 U.S. Energy Information Administration , Solar and wind to lead growth of U.S. power generation for the next two years, (2024)

58 BlackRock Alternatives, CFP, 2023

59 Kenya Power , Annual Report & Financial Statements, (2022)

60 Reuters , BlackRock, Temasek-led group invest $150 mln in thermal battery maker Antora, (2024)

61 Business Wire , Antora Energy Raises $150 Million to Slash Industrial Emissions and Spur U.S. Manufacturing, ( 2024)

62 Oxy, Occidental and BlackRock Form Joint Venture to Develop STRATOS, the World’s Largest Direct Air Capture Plant, (2023)

63 As of June 30, 2022. “Energy companies” refers to corporations classified as belonging to the GICS-1 Energy Sector.

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