US
Tag: unemployment
Rookie Senator Has Wall Streeters Shaking in their Boots
Remember the first time you saw Jaws, spending half the movie in anticipation, waiting to see the face of the destructor? That’s likely how bankers felt the last two months, eyeing the debut of newly-elected Massachusetts Senator Elizabeth Warren, a well-known Wall Street agitator recently appointed to the Senate Banking Committee. After her first showing, big banks […]
Morning Coffee: Bonus Structure May Cost Barclays Top Bankers
If Barclays doesn’t allocate more bonus money to its thriving U.S. mergers and acquisitions division, the firm could see many of its top investment bankers head out the door. I-bankers at Barclays had the cash portion of their bonus capped at just over $100,000 last year, upsetting many within the group, and forcing some to […]
Morning Coffee: EU Rescue to Result in Thousands of Job Cuts
Are Spanish bankers optimists, or pessimists? The European Commission on Wednesday approved plans to rescue Spain’s four nationalized banks, providing a ray of hope to an otherwise crippled banking system. The bad news: the banks will be required to cut their balance sheets in half, slashing thousands of jobs and unloading much of the burden […]
Morning Coffee: Walk to Jobs on the Buy Side
Wall Street, a once-bustling sector sporting some of the most glamorous and sought-after positions in finance, has lost much of its luster in the eyes of current and prospective employees. Investment bankers have begun voluntarily walking away from Wall Street because the prestige and the money, while still generous, no longer compensate for the brutal […]
Time for Bankers to Become Spendthrifts
If you’re wondering why the unemployment rate has remained stubbornly high, look at your bank account and ask yourself: Isn’t it time to buy a Lamborghini? According to a new Federal Reserve study, lack of consumer spending amid uncertainty is what’s keeping the economy, and job growth, in the doldrums. When consumers save instead of […]
Unemployed? Don’t Let That Stop You From Becoming the Candidate of Choice
For a variety of reasons, employers are reluctant to hire people who’ve been out of work for years and in some cases even just a few months. “There is some truth to the idea that the longer a person has been out, the harder it is,” says Elizabeth Lions, author of Recession Proof Yourself. “When […]
Networked Out: What to Do When Unemployed Friends Keep Hitting You Up
If you happen to be a laid off banking or investment banking professional, odds are that you aren’t the only one looking for a well-connected contact in the industry to help in the job search and recommendation process. But for those on the other side of the equation—those gainfully employed—it can be difficult to know […]
For the First Time in 30 Years, Men are Emerging from the Recession Faster than Women
Men are recovering from the recession faster than women from a jobs perspective, although the national unemployment rate for women remains lower, according to data from the Bureau of Labor Statistics. “The ‘man-cession,’ as it is dubbed by many, saw employment among men plummet by more than 4.8 million between November 2007 and June 2009,” […]
Wednesday’s Headlines: Pre-Election Gridlock for Wall Street Jobs Where Nobody Wins
The campaign season has been rough on Wall Street with President Barack Obama demonizing Bain Capital when challenger Mitt Romney was its leader, and Romney himself bringing unwanted scrutiny to private equity. Even though Wall Street has decided to back Romney, bankers and traders may see little relief even if Romney wins, according to Bloomberg. […]
Older, More Experienced Finance Workers Should Find the Job Search Easier
Even though older workers are challenged in today’s job market—with more than a third of those 55 and up experiencing unemployment lasting longer than a year—there’s a bright spot for older workers these days in finance as well as other industries where employers seek true specialists. This segment of the population is enjoying the strongest […]
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