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It might also depend on your industry. The experience gathered in a niche market is very important where a diverse skill set is required and the last 5 or so years experience will not necessarily guarantee you the job.
Explaining past experience is important, I've had interviewers question me on jobs that go back 8 years.
I always bring a printed CV to interview with me for the client on 120gsm or similar.
I often find my CV has gained a couple of pages with that agency header crap, so I present the client with a copy of my CV the agent copy often goes in the bin.
"Never argue with stupid people, they will drag you down to their level and beat you with experience". Mark Twain
As someone on the receiving end of CVs, I would say anyone with a 5 page CV is immediately indicating they are a waffler who doesn't have the ability to precis and be concise yet accurate.
So they are immediately binned.
Harsh, but in the current climate, there must be some way of weeding out CVs.
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