Wednesday, August 24, 2016

How to write monetary abbreviations in resumes and CVs


Thanks to my AIGAC colleague Laura Freedman, who shared some great advice regarding numerical abbreviations in resumes.

How to use abbreviated numbers in resumes for international MBA programs and companies

PREFERRED BY INSEAD (and understood / acceptable at any top MBA program)
(from the CV self-review style guide INSEAD gives to incoming students)

Suggested numerical abbreviations:
  • k for 1,000 (thousands)
  • mn for 1,000,000 (millions)
  • bn for 1,000,000,000 (billions)
  • tn for 1,000,000,000,000 (trillions)

For Indians – avoid lakh and crore. For Japanese – avoid man. These terms suggest you're going to have difficulty adapting to an international corporate environment.

For currencies - we use currency code, but for major dollar denominations, we prefer US$ and SG$, CN$, AU$ and NZ$. The $ next to the number makes it easier to distinguish the currency from from the number, and is a symbol most people recognise, e.g., US$30k vs. USD30k, or CN$60mn vs. CAD60mn. Note that a common error is USD$ - either D or $ is fine but using both is not.

For other currencies, I prefer £ and € to EUR and GBP for readability. € is unique to Euro, and £ is dominant enough that nobody is going to mistake the currency for e.g. Cypriot pounds (unless you are from or worked in Cyprus, in which case it's best to use GBP for clarity).

As a general rule, convert currency amounts to US$, since it's a universally-understood international currency. It's also OK to use the currency for the market you are targeting, recognising that that signals you want to be in that market. Best to avoid other currencies. Most prospective employers (or B-schools) are not going to understand PEN40mn (Peruvian Nuevo Sol), or DZD246mn (Algerian Dinar), for example.

More tips on how to write numerals here

- Updated by Vince on Wed 24 Aug 2016

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