What do you all think will be the likely efect on finance related jobs due to fall of big investment banks in US
I think that all the IB failing is likely to expand the number of finance jobs. It’s really clear that jobs were being hoarded by these big banks. For example, if you try to apply for a job through a job recruiter, it used to be that the recruiter would send you for like 5 rounds of interviews with GS, LEH, MER, BSC, etc. That was very time-consuming but the whole thing was just a sham to keep you feel like you were getting someplace while you were unemployed. With the demise of the IB’s we can cut through all this crap. In their place, we will have a bunch of free-hiring, no BS red tape boutiques who are likely to expand the job market greatly. I expect that nearly everyone laid off from these IB’s will have 6 or 8 job offers without doing anything. It will be a great new world!
6 to 8 job offers from whom? LB, ML, FRE, FNMA? Yeah, sure free hiring and all but you are forgetting that the street is shrinking significantly and will continue to do so, as firms shed access fat. Due to the influx of able workers, the firms will be able to pick up talent on the cheap. What this means for an average person is that he / she will have to compete with higher degrees and or certifications for the same job. There are only so many jobs available. I am not sure if we are looking at the same economy here. It is getting darker by the minute.
i agree to quorky’s response
you guys need some sort of decoder ring or translation device to decode an intelligently written satire.
newsmaker Wrote: ------------------------------------------------------- > you guys need some sort of decoder ring or > translation device to decode an intelligently > written satire. good one.
Wow, in just 4 posts, this became a classic thread. By the way, I agree with JDV.
May be it’s a beginning of new business models and strategies. Carl weilberg (not sure I spell it correctly) and Wachovia CEO said it in the Bloomberg t.v. CFA program needs to cover asset-liability management, risk management and corporate finance more in detail that it lacks. How can we (CFA candidates) assess the quality of B/S for financial institutions if we don’t know A-L management well?
tom18606 Wrote: ------------------------------------------------------- > May be it’s a beginning of new business models and > strategies. Carl weilberg (not sure I spell it > correctly) and Wachovia CEO said it in the > Bloomberg t.v. > > CFA program needs to cover asset-liability > management, risk management and corporate finance > more in detail that it lacks. How can we (CFA > candidates) assess the quality of B/S for > financial institutions if we don’t know A-L > management well? say hello to decentralized borrowing and lending. micro-finance, individuals lending to individuals! The internet makes this possible; I think EBay has made some acquisitions to get into this potential market. Who knows if it will take off, but an intriguing concept.
Joey, what do you think about the new business models that MS and GS are considering?