First came asset write-downs. Then came bailouts. Now, the U.S. government is taking a large, voting equity stake in Citigroup. The chain of events pulling significant pillars of the financial industry from shareholder to government control is coming to look increasingly inexorable. But what does nationalizing a bank do to the careers and compensation outlooks of professionals who work there? Constrained upside will drive producers and senior executives to seek... 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

While investment banks hemorrhage jobs, hedge funds continue to hire. But crossing the aisle is no easy task. One William Street Capital Management, a new asset-backed securities hedge fund launched by ex-Lehman securitization chief David Sherr, is one of at least 10 fund startups that plan to raise more than $1 billion each this year, according to Bloomberg. To be sure, the job opportunities within these funds are dwarfed by the more... 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

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

Wall Street is enduring unprecedented public scrutiny and political pressure over its pay model – both for 2008 year-end bonuses, and how compensation will be structured in the future. This poses a formidable public relations challenge for those institutions that refuse to bow to demands for a company-wide and industry-wide bonus moratorium. If the industry really cares to defend compensation, “it has to be articulated in bumper-sticker sized phrases,” declared... 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

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. 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

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

Job hunting in this market takes a little extra effort. Here’s how to stand out. 1) Get networking By being well-networked, you’ll not only be able to tap into the "hidden" job market, but you’ll also be giving yourself a real advantage over other candidates, says Andrew Hanson, director, financial services, Robert Walters. “Your network should include anyone who can assist you with a job search or career move –... Read more

Stuart Coleman, general manager of contracting for the New England region of staffing firm Winter, Wyman Financial, says that the strong uptick in contract financial and accounting jobs is an excellent indicator of more good things ahead. We’ve seen a spike in temporary financial contracting. For each of the past three months the number of job orders in this space is up 25 percent month-over-month. The common theme we hear... Read more

Banks, as well as investment and asset management firms, seem to want it all from their job applicants. Don’t even mention hedge funds and private equity. In their search for the “perfect” and well-seasoned candidate, the list of job requirements is becoming longer than the Brady Bunch’s grocery list. Steven Pincus, managing director for TTI of USA, an executive recruiter, notes, “Client job descriptions, more often than not, do have... Read more