Even as the finance industry writhes amid recession and restructuring, some jobless professionals are having trouble adjusting their expectations to the new reality. A column in Sunday's Philadelphia Inquirer details the saga of one Byron Wilson, a former investment advisor, insurance company vice president and Big Four CPA. In 2007, Wilson left a steady job to build his own investment advisory business at Smith Barney, leaving little time to build a... Read more

The MBA degree is retaining its value for changing careers or turbo-charging long-term advancement prospects, notwithstanding the recent hiring hiccup and continued uncertainty over job prospects for the class of 2010. Officials at a number of institutions report demand for summer associates is strong, in marked contrast to this time a year ago. "We're seeing more companies, more (interview) schedules, more offers," says Randy Allen, associate dean of the Johnson School,... Read more

You are nearing the end of an interview with a potential employer. It has gone well, in the sense that there were no questions that made you sweat or stutter. At this point, you are suppose to ask the interviewer some questions which bedazzle her with such insightfulness that she will not let you out of the meeting without your signature on an employment offer. But let's for argument's sake assume... Read more

Finding a great job in the financial markets can be challenging in the best of times, but when Wall Street firms announce the kind of headcount reductions we’ve been seeing lately the search becomes down right daunting. And according to a survey eFinancialCareers conducted this month with financial professionals, recruiters may not really help job seekers all that much either. The survey found that while nearly four out of five (78%)... Read more

The expected cost of new regulations being implemented from financial reform was cited at the SIFMA Dodd-Frank impact Analysis conference as one reason banks are reluctant create new jobs. "There's a capital strike going on in corporate America," said Larry Kudlow, economist and host of the CNBC program, "The Kudlow Report." Speaking at the conference, Kudlow went on to say banks are "afraid to take the risk of hiring until... Read more

If you've just graduated from business school, a story in the current BusinessWeek may be just the pick-me-up you need. It looks back at five students who graduated in 2002 - during the last really awful job market - and asks if there's something to learn from their experiences. In profiling students who graduated amid the recession, the aftermath of the Sept. 11, 2001 attacks, Enron and the dot-com bust, BusinessWeek's... Read more

Searching for a senior-level financial role requires proper organization, even before you start. Laid-off CFO Gary Starr recently began dissecting his own job-search strategy and tactics for a series in CFO Magazine. Starr's advice in the initial installment is familiar but worth repeating. The main points: - "Searching for a position is a full-time job and should be approached with the same organization and zeal that one brings to his or her... Read more

Chinese economic expansion is sparking demand for various finance professionals for work within the U.S., says private equity consultant Song Jin. As privately owned Chinese firms move to invest in U.S. businesses and raise capital here, they'll need experienced U.S.-based investment bankers, lawyers, accountants and investor relations professionals, among others. That incipient trend, a by-product of the U.S. financial crisis and recession, marks the flip side of Western bankers' longstanding... Read more

The idea of taking a pay cut is anathema for all working professionals—especially for finance execs used to handsome compensation packages. But many are finding their paychecks and pocketbooks to be much leaner this year. For those impacted by a slash in pay, unlike before, most are choosing to stay put, says Ken Murray, president of Mercury Partners, an executive search practice for front office finance professionals. He says it’s... Read more

If there is ever a poignant piece of advice that university lecturers and textbooks failed to warn me about upon graduating and entering the workforce, it is the fundamentals of office politics. Not long after finding my feet in my new professional environment, I learned pretty quickly that sometimes it’s the brownnosing and “who you know, not what you know” ticket that guarantees movement up the corporate ladder. I have... Read more

Crain's New York Business argues Wall Street job losses have been exaggerated. Citing recent data from the New York Department of Labor, the newspaper says only 19,000 financial services jobs have disappeared from the Big Apple since August 2008. Sure, three of the five largest investment banks are gone, and Citigroup and AIG are now wards of the state. And yes, there has been severe contraction, including painful job cuts, especially... Read more

You may be tired of hearing that it’s a buyer’s market when it comes to jobs in the financial markets. And these days it’s not only the employers who aren’t responding to job applicants. Recruiters haven’t been on their best behavior either. In fact, candidates are complaining that when it comes to common courtesies, such as returning phone calls and following up with interviewees with advice on why they didn’t... Read more

Despite the shakeup in traditional banking, asset-based lenders appear to be standing on solid ground. For finance professionals interested in commercial finance, the field can be a great long-term option. But finding opportunities may require some creativity. In a nutshell, asset-based lending is secured credit, with the loan traditionally backed by inventory, accounts receivables, or company equipment. Even less tangible items can back the loan - such things as trademarks or... Read more

Editor's note: This article first appeared on our Australian site. A spate of layoffs in recent months means some financial services professionals face the daunting prospect of job hunting while unemployed. Those fortunate enough to get an interview will of course be asked why their old employer got rid of them. Here’s a short guide to dealing with that situation. 1) Chill: the interviewer would be more worried if you... Read more

It seems like the old boys’ network is alive and well on Wall Street, if only because guys know how to make one another feel like part of the team even before a relationship’s been established. Connie Thanasoulis-Cerrachio, head of career coaching firm SixFigureStart, recently observed this clearly when she and some colleagues interviewed asset management analyst recruits from top undergraduate colleges and universities. Some of the male interviewers greeted... Read more

TD Bank's departing Chief Economist Don Drummond has some unusual advice for new graduates eyeing careers in economics: At this stage, mastering economic theory is more important than gaining practical experience. And the way to do that is to go straight from an undergrad degree to a Master's, as Drummond himself did more than 30 years ago. Drummond retires at the end of June after 10 years with TD bank preceded... Read more

Congress enacted Dodd-Frank, which created the Financial Stability Oversight Council, to guard against a recurrence of the financial crisis and to protect American taxpayers. The initial intent of this legislation was to coordinate various regulatory agencies and instill joint accountability for the stability of the financial system. However, with today’s highly-interconnected global financial markets, there is a risk of over-regulation or what some are calling "regulatory arbitrage" that carries with... Read more

It’s not uncommon for candidates applying to a bulge bracket or top bank to sit through a three- to five-hour interview session. Yes, the interview has become a marathon session, designed to break you down and reveal every little point of knowledge, as well as your personality flaws. But if you want the job, then you need some effective tools to do your best. Admittedly, the run-around with four or... Read more

There appears to be a shortage of available candidates for CFO positions, according to a recent study by Heidrick & Struggles. "Many financial services companies are finding when it comes to choosing a new Chief Financial Officer, the well is dry," says Jory Marino, Vice Chairman of Heidrick & Struggles, who adds that "a number of CFOs, after remaining in place to see their firms through the (financial) crisis, only... Read more