Tuesday, March 24, 2009

Financial Hotshots Join the World’s Oldest Profession

Article Title: Financial Hotshots Join the World’s Oldest Profession
Author Byline: Peter Weddle
Author Website: http://www.weddles.com/WorkStrong

A four star Army general with 28 or more years of experience makes $187,225 a year in salary. They can make a little more—$225/month—not as a bonus, but in combat pay. Our country pays all of its soldiers a small stipend for putting their lives on the line in the nation’s defense.

So, a general is willing to go to work—to spend horribly long hours and face unrelenting pressure—for a paycheck that is one-tenth, one-twentieth or even one-one hundredth of the pay of the wizards at AIG, Citigroup, UBS and other investment firms. A general does his or her job for what financial types consider chump change, yet generals (and colonels and sergeants for that matter) have a far greater impact on the course of human events than even the most senior trader on Wall Street. Or the most experienced banker on Fleet Street. Or any and all of the hedge fund hotshots in Greenwich, Connecticut.

You see, generals (and colonels and sergeants) are responsible for human capital, not financial capital. And despite what the Street walkers in New York or London or leafy Greenwich may think, leading people in defense of the nation is far more difficult and demanding than manipulating puts and shorts and derivatives will ever be. Said another way, Army officers put people in harm’s way to protect the American Dream, not to line their own pockets and put it at risk.

But now the financial community is up in arms because the U.S. Congress is considering legislation that would tax the ill gotten bonuses of AIG executives and traders. Whatever you may think of that strategy, there’s no doubt that, if enacted, it will have a normalizing effect on the compensation of all bankers and brokers. And that outcome, they howl, will lead to a hemorrhage of talent from the financial services industry. They huff and puff that nobody will do the onerous and dirty work of their industry without the porcine pay packages they have come to expect.

What these Streeters are really saying is that the kind of people the financial services industry has sought to attract will work only for money. That’s not true of the many hardworking people down in the ranks, of course, but it is certainly the case for all of the traders and executives who have suckled for years at stratospheric pay levels. These masters and mistresses of the universe are only in it for the cash they are paid.

So, what’s that make them? There’s only one other profession where people work solely for the money they can earn. It’s a talent, I suppose, and it’s also the oldest job title in the world.

Thanks for reading,
Pay a visit to CareerFitness.com

Article courtesy of the Recruiting Blogswap, a content exchange service sponsored by CollegeRecruiter.com, a leading site for college students looking for internships and recent graduates searching for entry level jobs and other career opportunities.

Monday, March 16, 2009

How to Stop Worrying About Your Job Search

Article Title: How to Stop Worrying About Your Job Search
Author Byline: Kevin Donlin
Author Website: http://www.collegerecruiter.com/guaranteed-resumes.php

Want to put an end to your job-search worries?

You can.

Or at least, you can channel worries into positive action that moves you closer to employment every day. That's a message I got from the book, "100 Ways to Motivate Yourself," by Steve Chandler, who writes: "The next time you're worried about something, ask yourself, 'What small thing can I do right now?' Then do it. Remember not to ask, "What could I possibly do to make this whole thing go away?" That question does not get you into action at all."

There are two important implications here:

1. One small action is more productive than any amount of worry, and

2. Trying to solve all your job search problems in one fell swoop can paralyze you with confusion.

Let's tackle the second one first.

No matter who you are, you'll almost never go from unemployed to hired in one day, just as you can't lose 50 lbs. in a week or master French in an afternoon.

Heck, even Barry Bonds has been out of work for over a year, despite his Hall-of-Fame resume.

So stop tearing your hair out. You probably won't get hired from one action, but many. It may take a week, or several months, but the job you seek is out there and you will get it after you've taken enough of the right actions.

With that said, here are three ways you can stop worrying about your job search by taking small, positive actions today, each of which requires only 15 minutes ...

1) Call one person

We all know someone well-connected to potential job leads, with whom we haven't spoken in months or years. Pick one person and call them today, just to say hello.

Be sure to do one thing: Ask, "What would help you do your job better these days?" Then write their reply down.

After you hang up, brainstorm ways to help your friend do his/her job. You can ask other people in your network or Google for ideas. Keep going until you find at least one promising idea. You will then have an excuse to call your friend back tomorrow.

This will do two things: jump-start a dormant relationship and put you top of mind with a well-connected friend, both of which will make them more likely to send you employment leads.

2) Research one ideal employer

Have you ever submitted a resume to a blind ad online or in the newspaper, one that told you nothing about the company? And how did that work out?

By contrast, the more you know about an employer, the clearer your path to employment will become. It could be that a manager there went to the same school as you, or you go to the same church as the CIO, or they sell to a client you used to work for.

There are literally thousands of ways to make a connection with your next boss and stand out from ordinary job seekers. But you'll never know until you research the 10-20 companies you want to work for.

Why not pick one employer today and spend 15 minutes learning all you can about their employees, corporate culture, clients, problems, and opportunities?

Then try to make a connection based on your experience, education, and network of contacts.

3) Write down five scary interview questions

What's the last question on earth you want to be asked in a job interview?

Is it, "Why did you leave your last position?" Or, "What are your salary requirements?" Or, the dreaded, "What's your biggest weakness?" Whatever questions scare you, write them down.

Something magical happens when you write a problem on paper. It's like shining a light under the bed to check for monsters -- when you see things clearly, most of the fear factor vanishes.

Also, any interview question that scares you has been asked before. Which means there's an answer for it. And you can find that answer by searching online, reading a book, or asking a friend who works in HR.

Now. What if I haven't addressed your job-search worries in this article?

No problem. Simply write down whatever is bothering you, whether it's your age, lack of experience, the job market in your city, etc.

Then, spend just 5 minutes doing something about each worry today. Will you solve all your job-search problems in 5 or 15 minutes? No.

Will you be taking action toward solving those problems? Yes. And action dispels worry, just as sunlight dispels fog.

As Steve Chandler writes: "When you find yourself worrying about something, ask yourself the action question, 'What can I do about this right now?' And then do something. Anything. Any small thing."

Prove it for yourself and try it today.

Kevin Donlin is Creator of TheSimpleJobSearch.com. Since 1996, he has provided job-search help to more than 20,000 people. Author of 3 books, Kevin has been interviewed by The New York Times, Fox News, CBS Radio and others. His latest product, The Simple Job Search System, is available at http://www.collegerecruiter.com/guaranteed-resumes.php

Article courtesy of the Recruiting Blogswap, a content exchange service sponsored by CollegeRecruiter.com, a leading site for college students looking for internships and recent graduates searching for entry level jobs and other career opportunities.

Monday, March 9, 2009

Warren Buffett is not exactly a ray of sunshine today

The economy has "fallen off a cliff"

“The people that behaved well are no doubt going to find themselves taking care of the people who didn’t behave well.”

"The current efforts to help revive the economy are likely to produce inflation that could be worse than what the country suffered through in the late 1970s."

"Unemployment will likely climb a lot higher before the recession is done."

See more of his optimism here.

Thursday, March 5, 2009

Spamming the Unemployed

Being out of work can be stressful enough without idiot spammers now preying on the unemployed. In this one, the spammer sends an email about a job lead, or rejection, only to reward them with a brand new virus. Hit the link for the article. It's OK, really.