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Sounds like the US economy is as mediocre as ever.
Still looking and it's really rough.
8% WSO unemployment... Thanks Obama.
I'll take the bait. Of course it's Obama's fault, not the financial industry whose irresponsibility caused the collapse of the real estate market and subsequent credit crisis.
In any case, blaming it on politics shows a blatant misunderstanding of why unemployment is so high today. There's a long-term trend at play here where work that used to be performed by people is either being outsourced or automated. Jobs that continue to exist are being pushed to the brink in terms of extracting every last bit of productivity via overtime, eliminating more jobs. A competitive labor market is allowing firms to depress wages, and this ultimately leads to the increasing wage gap in America. I'd wager if you were to do a study of percent of revenues paid out as compensation, that number is declining substantially. This excludes executives, whose pay is increasing because its their job to find ways to cut wages below them.
This isn't something any politician can stop. It would take a socialist level of intervention to change that, which, despite the propaganda, is far beyond anything Barack Obama is doing or can do.
We're at a new long-run level of employment, we won't reach where we were ever again.
Ill take it you have little to no real world experience in running a business. Let me tell you right now, my company needs to hire about 50 people. We are way past the cut offs for obamacare yet we still are not hiring because the regulatory environment is not what any sane or even insane person would call stabilized. This is a direct fault of the current crop of federal government idiocy. You go in and create bureaucracy that takes 4 years to create a rule a 1st grader could write in crayon in 30 seconds. That is solely the governments fault. Just if you were wondering no these jobs are not high education requirement soft skill jobs. These are hard skill jobs that require real work experience (aka working with your hands).
Still looking, and it honestly feels like the window is closed already. Pretty much everyone I speak to is done hiring for the season, and seeing as how campus recruitment is going to pick up in the month or so, I'm not really sure what I'm going to do.
I feel your pain. Have you considered taking on an internship?
More relevant experience = better chances (downside = potential of no pay in the internship)
Yeah. At the risk of sounding positively douche-tastic, my parents are in the financial position to be able to support me indefinitely, so I've been actively looking into interning. At this point in my career/life, pay doesn't matter to me, work experience does. Most things I apply to I get no response, unless I'm able to leverage a contact or find a contact through linkedin, in which case I will invariably get an email saying that they don't want someone who has graduated already. I don't think that cold-calling/cold-emailing for internships is smart, given that I'm doing just that for FT offers.
I'm really bummed that headhunters haven't been of more help though. Tried all the usual suspects and they all (Robert Half, Kelly Financial, etc, etc) sit down for me with an initial meeting, talk a whole lot of shit about how I'll definitely be placed within 6 months. 3 or 4 months in from talking to temp agencies/ recruiters, and I have yet to get a single interview through one of them.
Any other suggestions? Or at least a way to get myself in the door?
Can't you look into MFin? That would seem a viable option considering your current position.
Yeah, I've certainly thought about it, but I'm not sure if it is a great option for me. The biggest thing preventing me from getting interviews (mediocre school with mediocre GPA), also is going to prevent me from getting into a halfway decent masters program. Unless I'm totally mistaken, even with an MFin, I'll still be going for entry level jobs as I have no real world experience outside of a summer internship that I did between junior and senior years of college. Even if I get a great GMAT/GRE score, I'm probably not going to get into a stellar MFin program. Having just spent 100+ grand on a degree from a mediocre school that finds me utterly unemployable, I'm nervous about doing it again. Maybe I'm just being a bitch, but I don't want to drop another 100 grand on a Masters from a hum-drum school only to find myself still not able to find a job. So I guess what it boils down to is..... are job prospects for those with MFins really that much rosier than for those with just a bachelors? Its tough finding honest data on this sort of stuff, any insight you can provide would be appreciated.
@emceedrive
First of all a Masters is not 100k
Second, MFin programs are not that hard to get into, considering the applicants are people in your situation, otherwise they typically would not be doing the progra. Why dont you crush the GMAT and apply to see what happens... if you don't get in, then so be it.
MFin applicants fight for the same jobs as bachelor degree holders. It is meant to help break in or change careers quickly for recent graduates. Most people doing the MFin programs don't have much experience besides internships with some program exceptions.
I suppose taking an exam is in my future in any case. I was heavily contemplating taking cfa I to put a plus point on my resume (not that I think it would matter in the long run unless I'm doing asset management or in a research role). I'll look into an MFin. Is it really looked at favorably in comparison to a bachelors in finance? I was under the impression that its not really much of a leg up (although it DOES give you another shot at ocr....which I suppose is good enough in and of itself).
Any update on your situation?
What does "N/A" mean?
Not Applicable.
Graduated last year, had a temp from Jan-Jun, and still looking.
When you say 'Temp' what kind of office/Industry do you mean? I'm going to assume finance, but is it a FO role? Just wondering if IB, Asset Mgmt etc hold temp roles.
Yes, and still looking. Fingers crossed!
I think nowadays companies are looking for junior level experienced professionals. It is too costy to hire senior people, and cost alot of time and money to train entry level.
Graduated this June. I should've postponed my graduation. I missed the major recruiting cycle last year. :(
Anything yet?
I graduate May 2012 and landed a gig a week before graduation. And my gig came up in June 2013 and haven't gotten anything since.
Your gig was only for a year?
Ouch. Keep pushing.
I'm interning part time @ Morgan Stanley Wealth Management. $10/hr doing administrative work. Definitely painful looking for a FT job with a 2.9 GPA, Econ Major from Non-Target school. Bummer...
Quit update - I got the gig I wanted! MM IBD FT w/out doing a IBD internship. :))
Congrats guy! Hope things work out for you