When the economy is about to bust, you’re pretty much always better off getting laid off in the first round then you are in the last round. Good luck to any casualties on here…
anyone think citi is looking pretty cheap at $9/share?
Deleted User
haha, its been looking cheap since $25 based on “old-world” metrics. This is the New World… strictly technical and buying and selling on whim. I should write for the CFAI.
Two managers are going over their budget for the next year.
After analyzing expenses and revenues, they come to the conclusion that they will have to lay off one of their two assistants, Jack or Jane.
They go back and forth but can’t decide who to lay off.
Finally, one manager decides that they lay off the first person who gets up from their desk.
In the meantime, Jane is hard at work but suddenly gets a headache. She gets some aspirin from her desk drawer and gets up from her desk to get some water.
One of the managers gets up to break the bad news to Jane.
Manager: “Jane, I need to talk to you. I’ve got a problem. I either need to lay you or Jack off…”
ahahah Wrote:
——————————————————-
> When the economy is about to bust, you’re pretty
> much always better off getting laid off in the
> first round then you are in the last round. Good
> luck to any casualties on here…
Agreed. Those getting laid off now are basically getting compensated with their return cab fare. In addition to greater severence packages, those laid off early had a much easier time relocating themselves to a new position.
Black Swan Wrote:
——————————————————-
> ahahah Wrote:
> ————————————————–
> —–
> > When the economy is about to bust, you’re
> pretty
> > much always better off getting laid off in the
> > first round then you are in the last round.
> Good
> > luck to any casualties on here…
>
>
> Agreed. Those getting laid off now are basically
> getting compensated with their return cab fare.
> In addition to greater severence packages, those
> laid off early had a much easier time relocating
> themselves to a new position.
Furthermore, even if you do survive through the entire crisis, you’re a lifer at the bank. It will probably never make sense for you to transition over to the buyside, because it would most likely entail taking a pretty serious demotion in terms of both quality of work and salary. I mean, maybe if you become VERY successful, you can switch over at a very senior level, but for the most part, you’ll be working until 10 every night forever…
is this the last round? i don’t think so
ConvertArb Wrote:
——————————————————-
> is this the last round? i don’t think so
Will, if this isn’t then you certainly will have to deal with a lot more competition if you are in the last round…
anyone think citi is looking pretty cheap at $9/share?
haha, its been looking cheap since $25 based on “old-world” metrics. This is the New World… strictly technical and buying and selling on whim. I should write for the CFAI.
Two managers are going over their budget for the next year.
After analyzing expenses and revenues, they come to the conclusion that they will have to lay off one of their two assistants, Jack or Jane.
They go back and forth but can’t decide who to lay off.
Finally, one manager decides that they lay off the first person who gets up from their desk.
In the meantime, Jane is hard at work but suddenly gets a headache. She gets some aspirin from her desk drawer and gets up from her desk to get some water.
One of the managers gets up to break the bad news to Jane.
Manager: “Jane, I need to talk to you. I’ve got a problem. I either need to lay you or Jack off…”
Jane: “Well, Jack off. I’ve got a headache.”
“This is the New World… strictly technical and buying and selling on whim. I should write for the CFAI.”
Stictly technical? and buying and selling on whim?
ahahah Wrote:
——————————————————-
> When the economy is about to bust, you’re pretty
> much always better off getting laid off in the
> first round then you are in the last round. Good
> luck to any casualties on here…
Agreed. Those getting laid off now are basically getting compensated with their return cab fare. In addition to greater severence packages, those laid off early had a much easier time relocating themselves to a new position.
I used to smoke pot and go to class.
Sneak in ten minutes late with a bullsh*t excuse.
Slink down low at my desk.
Pray to god nobody asked me any questions.
I was the best teacher ever.
ouch. no severance? is this a rumor? where did you hear that?
Black Swan Wrote:
——————————————————-
> ahahah Wrote:
> ————————————————–
> —–
> > When the economy is about to bust, you’re
> pretty
> > much always better off getting laid off in the
> > first round then you are in the last round.
> Good
> > luck to any casualties on here…
>
>
> Agreed. Those getting laid off now are basically
> getting compensated with their return cab fare.
> In addition to greater severence packages, those
> laid off early had a much easier time relocating
> themselves to a new position.
Furthermore, even if you do survive through the entire crisis, you’re a lifer at the bank. It will probably never make sense for you to transition over to the buyside, because it would most likely entail taking a pretty serious demotion in terms of both quality of work and salary. I mean, maybe if you become VERY successful, you can switch over at a very senior level, but for the most part, you’ll be working until 10 every night forever…
nolabird032 Wrote:
——————————————————-
> ouch. no severance? is this a rumor? where did you
> hear that?
This is terrible. There is a minimum 3 month pay severance in my employee handbook.
I didn’t mean “no severence” I was using a colorful analogy to indicate the comp for getting laid off would not be what it was in the early rounds.
I used to smoke pot and go to class.
Sneak in ten minutes late with a bullsh*t excuse.
Slink down low at my desk.
Pray to god nobody asked me any questions.
I was the best teacher ever.
colorful analogy are how rumors are started ;)