Keeping Up to Keep Up

It’s a struggle to keep up with what’s going on in your industry. Even when you’re engrossed in it every day, it’s easy to miss the little stuff – who just hired a new head of research, which firm is thinking of expanding into the Midwest, the bank that just signed a deal for a new proprietary software system.

Still, when you’re in the mix, your network makes it a lot easier for you.  “Hey, did you hear Joe is taking an assignment in Asia?”  “You saw that XYZ is selling off its widget-hedging business to LMOP, right?”

Water cooler talk isn’t just gossip. It’s a way to keep current and hear about opportunities.

It Takes a Village

I was speaking recently with a client whose son landed his first job – in financial services, no less.  Laughing, she observed: “It takes a village to get a job in finance these days.”  Indeed, it does.

Although her son was a recent MBA grad who’d had solid industry internships, there was no queue of people waiting to hire him.  Not a real surprise; it’s a rough market.

And it wasn’t like he was sitting at home waiting for the phone to ring.  He had

Hiring Alert: Cantor Fitzgerald

According to a recent article, Cantor is continuing its expansion into the full-service investment boutique business.  They’ve made an array of moves designed to fill holes in their business, including expanding their equities business, their global presence, and their product range.  They’ve hinted at up to 100 new hires globally, although where is still up in the air. Currently, they’re seeking sales and trading hires with a book of business (of course).

As the article points out, cultural fit will be key.  A former employee describes the environment as one “for the hustlers and thick-skinned only.”  Think that’s you?  Check out Cantor’s current job postings.

Finding Job Search Equilibrium

“Getting laid off was one of the best things that ever happened to me.”  A VP once said this to me as she handed me a pink slip.

Yeah, right.  I’ve been laid off three times.  No matter how prepared you are, it’s a lousy feeling.

Let’s face it, it’s hard to look for a job.  All those judgments.  All that disappointment.  All the waiting.  The strange thing is that – like so many things – I got better at being unemployed by changing both my attitude and my tactics.

Hiring Alert: Edward Jones

Thinking of hanging out a shingle?  Edward Jones is planning to recruit up to 2400 new advisers this year.  Key hiring will be in CA, AZ, and the Northeast.  Expect to hit the ground running, though.  According to an article in Workforce Management, new advisers are expected to generate a minimum gross of $240,000 this year and $264,000 in 2012.

Still, if you’re up for the challenge, Edward Jones ranked #11 on Fortune Magazine’s 2011 100 Best Companies to Work For list.

Getting Social (Media) to Find a Job

A recent Wall Street Journal article referenced a December survey of recruiters by business consulting firm Corporate Executive Board, where “nearly 80% of respondents said they plan to increase their use of job-board alternative methods this year, such as employee referrals and other websites like Facebook Inc. or LinkedIn.”

Senate Gridlock Crimps Hiring Progress

It sounds like we may have to wait as long as March to get the previously promised funding increases, so that the SEC and CFTC can proceed with staffing up for Dodd-Frank implementation.  If you recall, I wrote in November about the prospects for hiring hundreds of new regulators.

Hiring Alert: BTIG

An article in Traders Magazine yesterday announced that BTIG will be continuing its expansion by entering the wholesaling business.  Capital commitment will be part of that evolution. 

Hiring Alert: Fixed Income Trading-multiple firms

eFinancial Careers reports that hiring in the fixed income trading arena is picking up.  Specific firms mentioned were MF Global, BNY Mellon Asset Management, Newedge, Bluefin Trading, Scotia Capital, and BB&T Capital Markets.

Wanted: Cyborg with Market Feel

Unless you’ve been in a cave, if you work in trading, you know that the industry has embraced technology.  But what does that mean if you want to stay relevant?  Two recent articles in Traders Magazine talk about how important it is to stay at the forefront of technology trends by building quant skills, while holding onto the skills that made you a successful trader in the first place.