Losing your job is one of the most traumatic experiences people can go through, but if you’ve been made redundant, it’s often your own fault. Most people feel a deep sense of shock and despair. However, if you logically look at why it happened, it could lead to a better understanding of how to get back into the job market and more importantly, to actually get employed again. Admitting responsibility, rather... Read more

Morgan Stanley Chief Financial Officer Ruth Porat said on Saturday that the government definitely needs to raise taxes on the rich to address its budget deficit. "The wealthiest can afford to pay more in taxes. That's a part of the deal,” she told an Economist “World 2012” summit. "I don't know anyone that doesn't agree with that," Porat said. "The wealth disparity between the lowest and the highest continues to expand,... Read more

We’ve reported it before: bankers should expect dismal bonuses this year – with average cuts projected at about 30 percent over 2010. The bright side is that financial firms will likely compensate employees instead with packages of depressed stock – which could balloon to fortunes in the future, DealBook reports. The article quotes a corporate law and finance professor at Yale: “This year is the perfect situation where they can... Read more

Goldman Sachs may be a 2nd tier bank, but it still has 25 applicants per role Goldman Sachs isn’t what it was. We’ve pointed out a few times that J.P. Morgan appears to be a better location for traders right now. In today’s Financial News, William Wright places Goldman in a second tier of banks, including BarCap and Citi, that are merely “muddling through.” The new top tier, according to Wright,... Read more

Regulators are scrutinizing the fact that over the past five years, 136 analysts at credit-rating firms Moody’s, S&P and Fitch have left to work for the firms they once rated, according to The Wall Street Journal. Lawmakers have questioned whether analysts were too soft on financial services companies in hopes of landing higher-paying Wall Street jobs. Rep. Barney Frank (D., Mass.) told the paper: “You are rating someone and... Read more

By Uzair Bawany, founder and managing partner of Fairway Search Partners Candidates typically view writing resumes in the way they once treated exam revision: it is left until the last minute. After all, few people enjoy having to sell themselves, digging deep into their memories to uncover what they have contributed to organizations in the past and justifying their value to potential employers. For many, writing a resume can bring... Read more

An exit interview seems like a riskless trade. A 15-minute nirvana in which you get to vent your spleen after years of grovelling obeisance. It may seem that there’s limited downside to a frank and forthright exit interview. After all, you’ve already resigned. If you’re going to a competitor, there’s surely a limited amount the most vindictive manager can do to sabotage your prospects. If you’re going to a client, your... Read more

No wonder so many Asian students are traveling to the U.S. to tackle local MBA programs. Those professionals taking home $60,000 per annum pre-MBA might expect to walk away with $200,000 within five years of completing a top-echelon MBA, according to the latest reports. Last year, 2,000 Asian students traveled to Western Europe to enhance their business knowledge, and thousands more took off to Australia and the United States, according to... Read more

Could missing your company’s holiday bash bust your career? Probably not, but many company managers and recruitment experts want you there anyway. Sixty-six percent of senior finance managers responding to a new U.S. poll by staffing firm OfficeTeam actually disagree with the notion that it’s “an unwritten rule that employees should make an appearance at the holiday party.” That leaves 34 percent of finance executives who indicated that showing up at... 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

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

Editor's note: This article first appeared on our Singapore site. We spoke with Ebru Kapusiz – a woman who has been there, done that, when it comes to private banking. Her career spans more than 15 years and includes stints in asset management, fixed income securities trading and private banking in Australia, Turkey and Singapore. Most recently she was an associate director at UBS Wealth Management in Singapore. Kapusiz now runs... Read more

Have you ever considered looking beyond the financial markets to find a finance job? No? Well, you may want to think about this. While the financial sector is shrinking in the wake of the economic meltdown, continuing shocks to the financial system from the European sovereign crises, and a complete inability of Washington politicians to agree on anything, cash is piling up on Main Street. Treasury Strategies, a Washington-based treasury... Read more

Pretty soon, a lot of relatively young and inexperienced bankers are going to be staring at a pink slip. It’s not a pleasant feeling – I know, I’ve been through it. The hardest part about being laid off in a downturn is getting over the apparent unfairness of it all. In the greatest legitimate Ponzi scheme in the world, all one needed to do was to sit tight, put in the... Read more

It's the job seeker's proverbial "Catch-22." Many financial firms say they'll only hire you if you are currently employed. That means if you're unemployed, don't even apply. At least that's what employers are telling the recruiters working for them. Send me employed people to interview for an open position, preferably someone poached from a direct competitor. Says one unnamed New York City-based financial recruiter, “They want me to find someone... Read more

As independent advice giving firms seek to firm up their succession-planning efforts, experienced advisors who join forces with these companies should have broader ownership opportunities going forward. “Pure” Registered Independent Advisors (RIAs), as well as dually registered advisors affiliated with broker dealers, are increasingly bringing in seasoned people and “test driving them” for a possible ownership fit, observes Scott Smith, associate director at Cerulli Associates in Boston. You need five to 10... Read more

So you want to get that coveted front-office internship in an investment bank to add glitz to your resume, not to mention the attractive internship remuneration that will pay for your semester exchange/travel in Europe. After failing in many interviews (then finally getting an internship), here are some insider tips that will help you. It is a list compiled from both my experiences and those of friends who have successfully... Read more

President Barack Obama today signed a bill into law that provides tax credits to companies hiring unemployed veterans. The tax breaks range from $5,600 to $9,600 with the size of the credit based on the worker's salary and how long the worker was unemployed. The Senate and House each passed the bill unanimously earlier this month. The legislation comes at a time when financial firms are increasingly hiring veterans via... 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

Editor's note: This article first appeared on our Australian site. Eight years ago, I graduated from university in Sydney and arrived in London eager to make my career in the City. I was driven, networked like crazy and loved a good chat. I thought I was a no-brainer for an investment banking sales desk. Funny enough, while I pursued this career goal fervently, the recruiters I was working with thought... Read more