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Fewer Job Seekers are Willing to Pull Up Stakes for New Employment OpportunitiesA lot of job seekers would rather stay put than accept a new position requiring they leave the place they call home. A new survey of 3,000 job seekers, including many managers and executives, found that the percentage willing to relocate for a new opportunity dropped to a near-record low during the second half of [...] |
Another Global Bank Caps Cash Bonuses for Investment Bankers
Last week, Morgan Stanley revealed it was capping cash bonuses for senior executives at $125,000 and now it appears Bank of America has reportedly told investment bankers it plans to freeze base salary levels and limit cash bonuses to $150,000 for some investment bankers, according to Bloomberg, who quotes two people claiming to have knowledge [...]
Six Tips for Tackling Any Phone Interview
Editor’s note: This article first appeared on our German site. These days, cover letters, resumes and personal interviews are not the only things that candidates must pass to get a new job. There’s a good chance you may also have to undergo a phone interview as well. According to executive search expert David Kitzinger of [...]
SEC to Make Private Equity the New Focus of Investigations
The Securities and Exchange Commission has a new target: private equity shops. A three-member panel from the SEC’s asset management unit pointed to an increased likelihood of enforcement actions against private-equity firms in the near future, The Wall Street Journal reports. The SEC’s asset management unit was created in 2010 within the agency’s enforcement division [...]
Thursday’s Headlines: Number of Wharton MBAs taking Private Equity Jobs Jumps
Despite Occupy Wall Street protests at top business schools around the country, more Wharton MBA students are accepting private equity positions upon graduation, according to the student paper The Daily Pennsylvanian. In 2001, 2.3 percent of the school’s MBA students accepted private equity and venture capital jobs, a figure which jumped to 7.65 percent in 2011. [...]
State Street Unit Looking For Retirement Savings Professionals
This year, for the first time ever, assets housed in defined contribution (DC) retirement plans worldwide will be larger than assets held in traditional defined benefit (DB) pension plans around the world, says Kristi Mitchem of State Street Global Advisors (SSgA). DC assets—such as those held in 401(k)s and other participant-driven retirement savings vehicles—will “surpass [...]
People News: At J.P. Morgan, TIAA-CREF and Goldman Sachs
TIAA-CREF named GE veteran Ronald Pressman as executive vice president and chief operating officer. [Press Release] Managers including Guillaume Rambourg, formerly of Gartmore, and Todd Edgar, formerly of Barclays Capital, are leaving existing hedge funds or bank proprietary trading desks to start new funds, even as many investors shy away from risk. [Reuters] Swiss Re, [...]
Wednesday’s Headlines: Private Equity Expands Beyond Leveraged Buyout
Private equity just isn’t what it used to be. A Businessweek article today points out that all but 10 of the 41 employees Carlyle recently named to managing director were outside of the buyout business, underscoring the emerging trend of private equity firms diversifying beyond their core business. Private equity firms including Blackstone are seeking [...]
Bank of America Warns I-Bankers of 25 Percent Cut in Total Compensation
Bank of America told its investment bankers to expect compensation packages that average 25 percent less than last year, according to reports from informed sources. Bloomberg reported that executives at BofA, the second-largest U.S. lender by assets, gave the guidance this month ahead of formal 2011 pay discussions scheduled for this week, according to people [...]
Wedge Partners in Growth Mode
It hasn’t been the best of times for smaller and independent broker-dealers, between consolidation and the cost of stepped up regulatory efforts. But Denver-based Wedge Partners seems to be bucking the trend. Traders Magazine is reporting that Wedge Partners wants to add personnel throughout the firm, including “analysts, research salespeople and sales traders to the [...]
The pass rate is down, the cheating is up – is the CFA worth the work?
Results to the December 2011 Level 1 CFA exam are out: 38 percent of people passed. This is a significant minority and a little depressing in light of the fact that as recently as 2009, 46 percent of December Level 1 candidates got through. Why do so few people pass? Maybe they’re just not good enough. Ed [...]
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