The chief executive thought that one candidate - Charles - seemed ideal. Charles had been to a major public school. Not only was he a qualified accountant, but Charles also had a masters degree in business administration. He seemed fully aware of the latest creative accountancy techniques.

'Charles,' said the chief executive, we've decided to offer you the job. And as you're so well qualified we've decided to start you off on a slightly higher salary than the one advertised. We'll pay you 36,000 pounds a year.

'Thank you,' replied Charles. 'But how much is that per month?'