I came into work today and it turns out they let go about 90% of the people I have been temping with as an ER temp (about 95 people of the original 110). They are bringing in a few people that speak one or more languages so I fear that I’m not going to make the next cut. I am thinking about taking jobs outside of finance because I have had no bites since I graduated this year. Should I stick the course any try and land something in Philly/NYC even if its just as an intern/temp like I am now…or do I jump ship and try to find a job that will pay for me to go back to school?
Presuming you survived the 90% cut, you’re probably in good shape, especially since you’re significantly more inexpensive than a lot of your coworkers.
justin88 Wrote: ------------------------------------------------------- > Presuming you survived the 90% cut, you’re > probably in good shape, especially since you’re > significantly more inexpensive than a lot of your > coworkers. Getting paid a lot less to do the same job w/o any perks rules!
In your last post the following words were not necessary: “a lot less to do the same job w/o any perks”
Well don’t leave the job you have unless you have something else lined up. If your pay is no longer adequate then have a look around. I would make sure to mention in interviews that you survived a 90% cull of junior staff.
NSteen1987 Wrote: ------------------------------------------------------- > Getting paid a lot less to do the same job w/o any > perks rules! At some large price point you’re no longer economical for your firm to employ you. Also, in finance, you’re not just going to be handed that sweet comp package without fighting for it. Why do you think turnover is so high?
justin88 Wrote: ------------------------------------------------------- > NSteen1987 Wrote: > -------------------------------------------------- > ----- > > Getting paid a lot less to do the same job w/o > any > > perks rules! > > > At some large price point you’re no longer > economical for your firm to employ you. > > Also, in finance, you’re not just going to be > handed that sweet comp package without fighting > for it. Why do you think turnover is so high? Unless your name is Benmosche.
nuppal Wrote: ------------------------------------------------------- > Unless your name is Benmosche. I don’t know much about Benmosche personally, but he was CEO of MetLife for the better half of a decade. I also kind of like his approach to defending his company, namely the 99% percent of them that weren’t in AIG FP. Considering how hard a time BAML has had finding a CEO, I’d hazard that AIG got a decent deal…
I just dont like his attitude, I agree with defending the employees and AIG (less: FP) however, I think he just adds fuel to fire by so publicly demanding millions of dollars for himself. If he is worth of it, he will get it + interest sooner than later. Just rubs me the wrong way.
nuppal Wrote: ------------------------------------------------------- > I just dont like his attitude, I agree with > defending the employees and AIG (less: FP) > however, I think he just adds fuel to fire by so > publicly demanding millions of dollars for > himself. If he is worth of it, he will get it + > interest sooner than later. > > Just rubs me the wrong way. I don’t disagree, but… does he rub you worse than Greenburg or Liddy? (Pausing here for the pun thread to start…) Greenburg (and Cassano) blew up AIG and Liddy seemed content to let it fade away. At least Benmosche seems to want the firm to survive.
^ Very true, once again it all comes down to the perspective taken. Since I was still shielded by academia when the cards started to fall I dont have as much perspective on the beginning of the situation. From reading articles dated around August 2007 - December 2008 it does seem like Liddy was worse (no, he WAS worse). I feel like AIG will be the blacksheep of the FS Industry. I guess when it comes down to it, I dont really like old men rubbing me period. So thats that lol.
More layoffs today…no more friends left at work but I survived again…might make it to the end of the year. If anyone knows of anything in NYC/Philly let me know! I would be willing to work unpaid just for experience while I am searching for work.
Anyone think this might be a good time to try and score an accounting gig and expand my skills? I’ve been taking some online accounting courses through my local CC to try and strengthen my accounting fundamentals. I want to be as productive as possible while I’m out of work as it appears this will occur by the end of the month.
So they didn’t fire you today, NSteen1987?
Part-time Crook Wrote: ------------------------------------------------------- > So they didn’t fire you today, NSteen1987? I’m still alive…I think I can make it until the end of the month or possibly until March…it’s so hard to read this situation…I am researching the companies of the 90+ people that were let go this week so my logic tells me when I finish…I will be out of here
ya if you are low paid employee, dont worry you may be surprised that some lazy bumps made 4-5 as much as you do
NSteen1987, sorry for the lost of your department. What kinda of company do you work for?
if you want something unpaid marathon capital management is doing some intern thing, where you must have already completed your college degree. it actually pays, like 25k for the year, but of course you have to live in nyc on that much. you can be in real estate structured finance, equities, and maybe 1 or 2 more areas, those the only ones that i can remmeber off the top of my head.
BiPolarBoyBoston Wrote: ------------------------------------------------------- > NSteen1987, sorry for the lost of your department. > > > What kinda of company do you work for? he’s temping for Bloomberg
Have an update for you guys on this…I’ve been bumped up to team leader even though I am still a temp. I will be supervising and helping a team of 10-12 analysts that are working on researching German companies (and I cant read of speak German). Looks like I might make it through and actually get hired here after all. If I can do it…anyone can!