The Wall Street Job Report

 

Beat the Heat: Editor’s Notes, July 9, 2012

Are you in a summer slump? This weekend, it was nearly impossible to leave the great indoors. As much as I love being outside, the heat and humidity were an oppressive obstacle to any time in the sun.  Soaring temperatures and stifling, sweaty, lagoon-like subway tunnels can cause lethargy in even the most energetic of us. Not to mention the difficult to control indoor temperatures and the roar of the air conditioning.

Should You Add A QR Code To Your Resume?

The Wall Street Journal discusses that issue today.

QR codes are popping up everywhere: on poster ads, on the sides of busses, and in your favorite restaurant’s windows.

Cantor Fitzgerald Plans to Hire 1,000 in “Full Growth Mode”

Apparently it pays to be a small fish in a big pond.

Cantor Fitzgerald, a smallish investment bank that’s private, still plans to hire 1,000 people in the next several years, said Chief Executive Officer Shawn Matthews, expanding the investment bank’s head count from 1,600.

How To Be Resilient When You’ve Been Laid Off

Are you resilient?

In order to survive one or more layoffs, you must be, according to eFinancialCareers.

Resilient people share certain characteristics.

Check Your LinkedIn Profile And Remove These Words Right Now

Do you–whether on your website, or more likely on social media accounts–describe yourself differently than you do in person?

Do you use hacky clichés and overblown superlatives and breathless adjectives?

To Take The Work Out Of Networking, Reframe Your End Goal

You’ll find networking a lot easier if you take the work out of networking.

You make it a chore when your primary goal is making contacts. Make your goal expanding your thinking and getting new ideas for your business and maybe making some lifelong friends in the process.

How to Be Happy at Work

Happiness and unhappiness (in work and in life) result entirely from the rules in your head that you use to evaluate events.  Those rules determine what’s worth focusing on, and how you react to what you focus on.

Hopeful Signs Emerge For Struggling Jobs Market

U.S. private employers stepped up hiring in June and the number of Americans filing new claims for jobless benefits last week fell by the most in two months, hopeful signs for the struggling labor market.

U.S. Employers Post Fewest Job Openings In Five Months

Employers in April posted the fewest job openings in five months, suggesting hiring will remain sluggish in the months ahead.

The Labor Department said Tuesday that job openings fell to a seasonally adjusted 3.4 million in April, down from 3.7 million in March. The March figure was the highest in nearly four years.

Can Twitter Get You A Job?

Recently on the Wall Street Job Report, we discussed the validity of the cover letter in today’s workplace. Research suggests that recruiters increasingly neglect reading the cover letter, if they even receive it, for a variety of reasons:

-It’s not an efficient way to determine a candidate’s fit;

Why Hiring Managers No Longer Read Cover Letters

The cover letter has been an integral part of the job search for eons. In fact, Leonardo Da Vinci pioneered the concept with his letter to the Duke of Milan. But today, more and more job seekers are finding that it is not a critical component of a successful search any longer.

Wall Street Job Alert: Hiring Forecast Much Rosier Than Predicted in NYC

Finally, for a bit of good news: contrary to the doom-and-gloom reports issued at the beginning of 2012, the financial services sector actually added jobs in 2012: 3,800 of them, reports Crain’s New York Business.

Over-50: Congratulations, You Bottomed Out

Over-50 professionals are bumping into some nasty surprises. It’s partly because of ageism, partly a marketplace no one can read, and partly sticking with approaches that had succeeded before. What they’re shocked to find is that no matter how persistent they have been, they can’t find a comparable job in their field, don’t receive that hoped-for promotion, or can’t attract business for a solo practice. Yet, they just keep doing the same things, only trying harder.

4 Keys To Getting Promoted

Early on in our careers most of us don’t really understand what it takes to move up. We can quickly figure out what it takes to do well at our currentjob, while we don’t know what it takes to succeed at our boss’s job. Some people languish in the same position / title for years and years and always wonder why they are not moving ahead while their peer who “knows less” is moving up through the ranks.

How The Over-50 Can Succeed In The Workplace

Not so long ago, if older workers muttered about age bias, many would write them off as probably not doing a good job any more. That was a different time.

How The Over-50 Can Change How Generations X, Y See Them In A Job Interview

Those over-50 often report seeing themselves as much younger. Family and friends, confirms Marie de Hennezel inThe Art of Growing Old, tend to reinforce that illusion.

5 Reasons Your Boss Hates You

If you find yourself wondering why the bloody hell your boss keeps delaying your promotions or giving you the worst tasks known to mankind, you’ve probably rubbed them the wrong way. I’ve narrowed down five possible reasons why they just don’t like you! Let go of your stubborn ways and take a look at these corrective measures to get back on their good side – while you’re still employed.

What Not To Wear At Your Wall Street Internship

Yesterday, we told you where to live. Today, new Wall Street Intern, let’s have a chat. The world you’re about to enter is, by and large, a meritocracy. With rare exceptions (nepotism, mostly), bankers, traders, and other financial services employees are judged on results — on how much business they bring in, what their P&L looks like, how many clients request them. Over and over again on Wall Street, you will hear the phrase “we eat what we kill” — partly because saying it makes ex-athletes who spend twenty hours a day in Aeron chairs feel manly, and partly because it’s true.

New Trend in MBAs

Career-services offices at business schools have a new job these days: catering to executive M.B.A. students.

Traditionally, companies sent promising up-and-comers to business school, paying for their executive M.B.A. degrees and then installing them in managerial positions. But as companies pull back on sponsorship for education, executive M.B.A. candidates are footing a bigger share of the tuition bill

Seven Tips for Success on Day One of a New Job

The first day at a new job is fraught with questions. Will it look bad if I can’t remember everyone’s name? When can I ask for my first assignment? Can I bring lunch from home? While the specific answers vary between workplaces, career coaches and recruiters say that there are a few basic guidelines that apply to most people as they transition into a new role. On Day One, make sure you demonstrate three fundamentals: Preparedness, enthusiasm and interest in your new position.

What To Do When You’ve Been Laid Off

Three words: “Fools. Rush. In.”

But wise jobseekers don’t.

According to career coach Roy Cohen, turning around too quickly after a layoff is one of the biggest mistakes that jobseekers make. Cohen is author of the bestselling book, The Wall Street Professional’s Survival Guide, and he guides high-level professionals through career transitions, such as layoffs. Cohen recently contributed his thoughts to a piece on the Wall Street Job Report entitled 8 Steps To Take Before You’re Laid Off.

Top 10 Trends in the Executive Employment Market

http://www.ExecuNet.com – Having tracked trends in the executive job market for 20 years, ExecuNet – a leading business and career membership network for senior-level executives – releases its annual Executive Job Market Intelligence Report which reveals thatexecutive recruiters are more positive than they have been in the past five years.

If You Have A Job, Keep Your Job Search On The Down Low

You may be employed, but you are considering looking for greener pastures. Is that ethical, and how should you handle a job search when you already have a job? The Harvard Business Review has some tips for how to keep your employment search on the down low.

5 Ways To Prep For Your Next, Better Job

According to the Bureau of Labor Statistics(BLS), Baby Boomers held an average of 11 jobs from the ages of 18-44–and the trend continues with their children, members ofGeneration Flux. The BLS also estimates that Boomers experienced an average of over five periods of unemployment during those years.

Infographic: Which Industries Have Bled The Most Jobs Since 2004?

We’ve all heard about the subprime mortgage crisis, the automotive and banking bailouts. We’ve all known someone (or many someones) who’ve been out of work. And, most recently, we’ve all heard that the job market is getting better. So what’s all that look like? This infographic by Elefint DesignsandGlassman Wealth Services will walk you through the last eight years of the U.S. job market, sector by sector, eschewing confusing employment rate figures for sheer job loss and gain.

When Good Networking Advice Goes Bad

If you’re the kind of person who isn’t sure if you should bring your parents along on a job interview, you might get a lot out of The Wall Street Journal’s “Networking Mistakes We Often Make.” For everyone else, however, some practical tips are buried among contradictions and bizarrely obvious advice.

Yes, You Need A LinkedIn Profile Photo, Even If You’re Over 50

Did you know that people are seven more times likely to check out your LinkedIn profile if you have a photo of yourself on the profile than if you do not? That statistic is one of the reasons that Elizabeth Garone of the Wall Street Journal’s “At Work” advice blog recommends that you add your picture to your LinkedIn profile.

10 Things You Must Do If You Lose Your Job

What should you do if you lose your job, besides wanting to punch a hole in the wall? Career expert Kerry Hannon, author of the book What’s Next? Follow Your Passion and Find Your Dream Job and Forbes.com columnist has 10 more productive ideas,some of which are aimed towards older people who have lost their jobs.

Here’s What I Wish I Knew Before I Started My First Year On Wall Street

College graduation season is winding down, and despite all the negativity surrounding the financial industry in the last year, lots of those newly minted graduates are still heading to Wall Street. In the next two months, most major Wall Street firms will have their first-year orientation sessions, and a new cohort of analysts will enter the industry. But are they prepared for the real deal?

The Job Interview Secret No One’s Telling You

In other words: Should you apply if you don’t fit the job description?

My answer: Yes.

Here’s why: Most people doing the interviews don’t know what they’re looking for in an employee. Looking over a job description, judging by the years of experience required, based on all the tools they say you need, you’d think a potential employer knows who they want to hire. After all, they’ve created a document that outlines exactly that in great detail.

4 Tips For Surviving A Corporate Personality Test

When was the last time you took a personality test?   For me, it was last week, when I clicked through to “WhichRevenge character are you?” after catching up with my latest TV obsession.  I got Nolan Ross.   So maybe he’s a bit of an oddball, but he has excellent taste in lobster sweaters.   Anyway, it was all harmless fun.

Walk Out of Your Job Interview in a Blaze of Glory

Picture this: The job interview is (almost) over.

You’ve answered all their questions.
You’ve jumped through all their hoops.
You’ve taken all their tests, assessments and personality profiles.

Eight Tips for Leaving Your Job

You only get one chance at a last impression. When you’ve given two weeks’ notice at your current job, you may think you can lay back and just coast before joining your next employer. Don’t. Those last two weeks can be critical to ensuring you leave on good terms with your reputation intact. Psychological studies suggest that the last impression you leave is more important than your entire body of work.

How to Answer Key Interview Questions When You’re Overqualified

Especially in times of high unemployment and financial distress, many candidates will apply for jobs for which they are, by conventional standards, overqualified. Does being overqualified mean you’ll be disqualified if you’re lucky enough to face an interviewer? Not if you handle the interview wisely.

Being Great At Your Job Can Be A Dangerous Thing-But Keep Doing It

Hard work and competence should be rewarded, but that’s not always what happens. Sometimes when you do great work at a company you not only get shafted but kicked to the curb. Jeffrey Steele, writing for personal finance blog Five Cent Nickel, offers up a cautionary tale about being too competent:

A colleague within his organization left on a sabbatical, and Ned was tabbed to cover both his own responsibilities and the sales functions of the departing co-worker. The following weeks proved pivotal.

Aviva Fires Everyone: Great Moments in Employee Motivation

Workers across Europe are on tenterhooks these days, with all the talk of debt crises and such. So it was a dark day indeed for 1,300 workers at Aviva Investors, the asset management arm of the U.K. insurance company, when they opened a company e-mail on Friday to find out they had been fired. Please hand over your passwords and any company property and leave the building, they were told.

The only problem: Just one unfortunate soul was supposed to get the message. Oops.

Your Company Might Think It Can Control Your Facebook Soon

Should an employer have some kind of claim on your online activities?

The workplace of the future will likely say yes.

Your employer won’t be able to log in to your Facebook or Twitter account, but it will subtly and not-so subtly tell you what you should be doing on those

It Doesn’t Pay to Be Yourself at Work

The next time you want to speak your mind at work, it’s best to keep your mouth shut. Research by the University of Houston in Texas and the University of Greenwich in London shows that while being yourself around family, friends, and loved ones benefits well-being, being yourself at work has no bearing on life satisfaction.

5 Ways To Survive A Horrible Boss

There are so many variations of bad bosses. The micromanager. The boss who throws you under the bus to try and cover up his own mistakes. The yeller who likes to inspire fear.

Sadly, bad bosses are not rare. So what do you do when you find yourself working for one? Sure, you can quit, but if you don’t have a trust fund or wealthy mate, you should view the boss-worker relationship like any other challenge — one that can be managed and overcome. “People make bosses out to be everything,” says Wendy Kaufman, the CEO of Balancing Life’s Issues, an Ossining, N.Y.-based corporate training firm. “The reality is they are not. When you know that, you can win the psychological game.”

How To Apply For A Job That Doesn’t Exist

It’s difficult enough finding a good job to apply to but if you’re really struggling to find something that fits, the Wired How-To Wiki has put together a set of tips for applying to a tech job that doesn’t exist that can be applied across a variety of different disciplines.

37 Percent Of Employers Use Facebook To Pre-Screen Applicants, New Study Says

A survey commissioned by the online employment website CareerBuilder has found that 37 percent of hiring managers use social networking sites to research job applicants, with over 65 percent of that group using Facebook as their primary resource.

The data is based on a nationwide survey conducted by Harris Interactive in February and March, according to a press release from the company. Researchers asked more than 2,000 hiring managers and other human resources employees if they use social networking sites to inform hiring decisions and, if so, what kinds of information they looked for and whether or not those findings hurt candidates’ chances.

The College Majors That Make You Richest

In a challenging job market, college graduates face an uncertain future. That’s not to say they have no control over the situation.

Majoring in math- and science-focused subjects is likely to get college graduates higher-paying jobs compared to other majors, according to a recent study by three Yale University Economics professors for the National Bureau of Economic Research. After examining data from the 2009 U.S. Census Bureau’s American Community Survey, the report finds that economics, engineering and accounting provide graduates with some of the highest average wages. College graduates with these majors can rake in $30 per hour or more on average, the Wall Street journal notes.

What to Say in Your Thank-You Letter Besides, “Thank You”

Have you ever felt frustrated after an interview?

Sure you have!

I know you’ve mentally gone over your interview answers and… you remember what you DID NOT say and you realize you missedan opportunity to REINFORCE your candidacy. Well, this is why you write a strategic thank-you letter.

Of course, it all depends on how badly you’ve screwed things up. Sometimes, there is no backpedaling, but let’s assume for a moment you can recoup or cement your candidacy… what then do you say in your thank-you letter besides thank you?

11 Secrets of Hiring Managers

In a challenging job market, college graduates face an uncertain future. That’s not to say they have no control over the situation.

Majoring in math- and science-focused subjects is likely to get college graduates higher-paying jobs compared to other majors, according to a recent study by three Yale University Economics professors for the National Bureau of Economic Research. After examining data from the 2009 U.S. Census Bureau’s American Community Survey, the report finds that economics, engineering and accounting provide graduates with some of the highest average wages. College graduates with these majors can rake in $30 per hour or more on average, the Wall Street journal notes.

Business Etiquette: 5 Rules That Matter Now

The word “etiquette” gets a bad rap. For one thing, it sounds stodgy and pretentious. And rules that are socially or morally prescribed seem intrusive to our sense of individuality and freedom.

But the concept of etiquette is still essential, especially now—and particularly in business. New communication platforms, like Facebook and Linked In, have blurred the lines of appropriateness and we’re all left wondering how to navigate unchartered social territory.

Anonymous Recruiters Share Chilling Realities of Today’s Wall Street Job Market

Here is the City spoke to a number of recruiters–presumably Wall Street recuiters–and none of them had good things to say about this hiring season.

Scarier still, many of them don’t think things are going to get better.

Read on for their insights:

1. ‘There’s not much in the way of job vacancies out there at present, and what there is firms seem to be doing direct. It’s pretty soul-destroying’.

The Latest Job Search Obstacle: Low-Budget Background Checks

What if you lost out on a job because your criminal background check said you committed crimes that you had nothing to do with? Turns out, this happens more than you think.

Ever since the September 11, 2001 terrorist attacks, employers have been tightening up their background checks on potential and current staffers – now as many as 93% of all employers do some sort of check on their employees, usually hiring background check companies to do the work. But the National Consumer Law Center has discovered that the process is more like the “Wild West of employment screening,” with unlicensed companies, inaccurate information, and repeated violations of the Fair Credit Reporting Act. It details the problems in a new report called “Broken Records.”

Are the Unemployed Applying For Too Many Jobs?

Are jobseekers sending out too many resumes? That’s what an HR professional recently claimed in a comment on the Wall Street Job Report.

HRMASTER wrote, in response to an article about how some companies use computer scanning software to screen out resumes, that companies are justified in doing so. How else can a company handle the virtually overwhelming number of applicants for every job opening, many of whom are unqualified for?

3 Tips For Interview Fashion for Women On A Budget

Are you ready for your next interview?

Every working professional must have a go-to interview outfit stashed in his or her closet. It’s like a first aid kit. You never know when–or how quickly–you’ll need it.

The good news is, you can get a really fabulous interview outfit on a budget. For under $200 you can create a clean, polished look that will be sure to impress the hiring managers.

Can Technology Mimic “The Human Process”?–Editor’s Notes, April 17, 2012

I continue to put my question to readers: how can we best resolve the glut of job applications–in the best interests of both applicants and employers?

One reader wrote in to comment, with an interesting take on the situation. Here’s what Anthem had to say:

Full agreement with the use of technology to scan applications. It’s a must. However, HR departments should not stop at the scan with their use of technology. Better communication with potential applicants so that people can self screen. Better communication regarding status of the company’s search (e.g. app deadlines, # apps rec’d, stage of the process (post application deadline), etc). More cred regarding legitimacy of vacancies (many use third party addresses rather than their own company’s address).

4 Common Mistakes Young Professionals Make When Changing Jobs

Looking for a job that’s made just for you? Learn how to network your way into a job you love in our free one-hour video with the Classy Career Girl and Brazen’s networking experts.

With the economy starting to turn a corner, and hiring in some industries and regions picking up, you might be contemplating making the jump to a new job. But any career move comes with risks you need to be aware of before you make a change.

12 Things You Should Never Mention In Your Resume

The first hurdle in any job hunt is building your resume. Ultimately, your first draft is a template for something that you are going to tailor based on each opportunity (if you’re serious about the job).

Pulling it together is a painful process of learning how to see yourself from the outside. Today, we offer a few guidelines for keeping your resume focused.

‘I’ll Make 250K This Year, While You’re Unemployed LOL’: Monster.com Recruiting Goes Horribly Wrong

A man we’ll call Robert has a profile on the employment website Monster.com, and earlier today he received a message from a recruiter about a job in “beautiful Northwest Arkansas.”

Robert’s Monster.com profile clearly states that he is only interested in jobs in the Columbus, Ohio, area.

How To Survive the Mid-Job Search Crisis: Part I

“I’m unemployable,” a good friend, Jacob, told me last night.

“Why do you say that? It’s not true,” I said.

“Because I’ve applied everywhere and no one wants to hire me,” he said.

“That’s not true! That’s not even logical!” I said.

But Jacob was in the throes of a mid-job search crisis. And nothing I could say would snap him out of it.

How to Survive the Mid-Job Search Crisis, Part II: Bouncing Back In Five Steps

So you’ve admitted it. You’re in the middle of afull-fledged mid-job search crisis.

Now that you know, how do you move through it and move on?

1. Avoid emotional investment in the positions you are applying for.

Emotional over-investment is the number one cause of a mid-job search crisis. Try to catch it by the warning signs. Are you fantasizing about the details of life at the prospective company? Planning where you’ll spend your three weeks of vacation or how you will lay out your office?

This Is The Perfect Salary for Happiness

Ever wonder how much money you’d have to make to feel content? Or think you’d be happier if you could just make a few thousand dollars more each year?

The Wall Street Journal reports on a study that shows you can put a dollar figure on happiness.

The bull’s eye? $75,000 a year. That’s for everyday happiness though, not overall, year-over-year satisfaction (which continues to increase with your income, according to the study).

Career Advice From Don Draper

“Find a job that needs to be done, and become the person that does that job.” –Mrs. Jimmy Barrett

Don Draper is the man women want and the man men seek to emulate. He rules the offices of his Madison Avenue ad agency with a golden fist: strict authority that brings in the $$$.

Recruiters Only Spend 6 Seconds On Your Resume

When I first began applying for jobs, my dad told me that a hiring manager would likely spend only one to three minutes scanning my resume.

When I compared it to the hours upon hours I put into creating my resume, properly formatting it, designing it, and then scouring it time and time again for errors and typos, that seemed like an awfully unfair exchange.

Army Vet Hired By Goldman Sachs After NY Daily News Profile

Two months ago, Tomas Canela was standing on line at a crowded veterans job fair in lower Manhattan, trying to stay upbeat after months of being out of work.

Today, Canela will be starting his dream job — a coveted eight-week paid internship at Goldman Sachs.

The Daily News helped make it happen: a Goldman Sachs recruiter reached out to Canela after reading his story.

Six Item Checklist: Interview Fashion for Men

1. This may be stating the obvious, but it’s crucial for success. When interviewing at a formal company (banking, law, corporate, etc), despite what you know about their dress code, go in a suit. Choose a classic gray, blue or black.

2. Pick a shirt that both compliments your skin tone and coordinates well with the suit. (Hint: Blue shirts usually do both of these things easily.)

Finally, Job Applications Acknowledged—But Not How You’d Hoped

Just when we were all getting pretty fed up with HR ignoring the thousands of responses they get to online job postings, one hiring manager took the higher ground and actually responded to every single one of the “900+” applications he received. After gloating that some of the applications only got a “few seconds” of his precious time, the hiring manager concluded, “ If your application email sucks, you are going to be left looking for work for a long time because you will get flushed out with the first filter every time you apply for a job

Three Things I Wish I Knew On My First Day of Unemployment

“I feel so foolish when I think about my unemployment,” one of my friends said recently. “Why didn’t I use my time more wisely?”

“There’s no way you could have known then what you know now, three months into your job search,” I responded.

This friend–let’s call him Jacob–then shared with me his biggest regrets about how he handled the first three months of his job search. Here they are:

INFOGRAPHIC: Recruiters Aren’t Using Facebook And Twitter

LinkedIn overwhelmingly trumps Facebook and Twitter as the social network recruiters use to search for job candidates, with 48 percent using LinkedIn alone, according to a recent study by Bullhorn, Inc.

Facebook is the least-used network by recruiters, although more candidates are looking to use it as a professional tool.

For Hungry Students, Wall Street Still a Draw

On a recent Saturday night in Cancun, Mexico, Kyle Carnes partied with his friends on spring break, listened to a live band and watched fire twirlers spin flaming sticks.

He couldn’t quite relax, though. Every few minutes he checked his iPhone. Mr. Carnes was waiting to find out whether he had gotten a final interview for a summer internship program at a major European bank.

The Enduring Consequences of Unemployment

Our economic malaise has spurred a wave of research about the impact of unemployment on individuals and the broader economy. The findings are disheartening. The consequences are both devastating and enduring.

People who lose jobs, even if they eventually find new ones, suffer lasting damage to their earnings potential, their health and the prospects of their children. And the longer it takes to find a new job, the deeper the damage appears to be.

Nine Things You Should Never Tell Your Boss

Your boss has enough to deal with each day. Don’t make yourself one his or her problems, too.

There are certain things your boss just doesn’t want to hear you say. Some of them are obvious. But some may only be obvious if you have been in a managerial position yourself and understand the associated demands.

The good news? As long as you read the list below, you can easily avoid being on your boss’s list for the wrong reason.

Job Searchers Must Do Their Homework Before A Job Interview–Guerilla Style

A firestorm erupted across the country when it was reported that Sears along with several law enforcement organizations were beginning to ask potential employees for their Facebook password.

The article Job Seekers’ Facebook Passwords Asked For During U.S. Interviews first appeared in the Huffington Post on March 20, 2012.   The news has since spread across the globe.  Facebook responded with their own announcement about their privacy policies and now Congress is involved.  Must be an election year.

7 Ways To Make Yourself Irreplaceable In The Office

In order to protect yourself from the next round of layoffs, you need to convince your employers that you’re valuable and that your existence alone benefits the company.

“Today’s business environment doesn’t allow for satisfaction with the status quo. It requires constant growth and change,” writes Mark Samuel in his book Making Yourself Indispensable: The Power of Personal Accountability.

Staffing Stocks Poised to Outperform on U.S. Job Gains

Shares of staffing and recruiting companies are beginning to outperform as demand for U.S. labor rebounds.

The newly-created Bloomberg U.S. Employment Services Index (BNUSSTAF) — comprising 17 companies including Robert Half International Inc. (RHI), Insperity Inc. and Kelly Services Inc. (KELYA) — has risen 48 percent since Sept. 22, 2011, compared with a 31 percent gain for theRussell 2000 Index of small-company stocks. This follows almost nine months of underperformance, when stocks of these businesses lagged behind the Russell 2000 by 28 percent.

Wall Street Hiring Outlook

Bloomberg reported that investment banking fees have dropped again this quarter.

Revenues from mergers, underwritings, sales and trading also fell.

The poor results were echoed in Europe, Middle East and Africa.

Workplace Discrimination Costs Businesses $64 Billion Every Year

Discriminating against your employees can cost you.

Workplace discrimination against employees based on race, gender or sexual orientation costs businesses an estimated $64 billion annually, a recent report from the Center For American Progress finds. The businesses incur costs in a variety of ways, including through the turnover of about 2 million employees who leave their jobs due to discrimination.

Litigation related to workplace discrimination also costs employers a signifcant sum. Just this week, FedEx paid $3 million to settle claims that it discriminated against job applicants based on race and gender in 15 states.

Big Brother Wants Your Facebook Password

If you want to become a state trooper in Virginia, you should probably delete any indelicate information you have on Facebook. During the job interview process, the Virginia State Police requires all applicants to sign into Facebook, Twitter, and any social-networking site to which they regularly post information in front of an administrator.

“You sign a waiver, then there’s a laptop and you go to these sites and your interviewer reviews your information,” says Corinne Geller, spokeswoman for the Virginia State Police. “It’s a virtual character check as much as the rest of the process is a physical background check.” Geller says the practice has been around for only three months and is just one of many ways the state makes sure its law enforcement officials are ethically sound. (Potential troopers also have to submit to a polygraph test).

Hedge Fund Head Starts Vineyard on English Coast, Plans to Take Over Market in 10 Years

Last month, Mark Driver left behind $774 million in assets under management at Horseman Capital Management, where he was a founding partner. It wasn’t a competing firm that managed to drag him away from his desk, but a desire to pursue his passion–and an astute market assessment. According toBloomberg, Driver began planting his vineyard Sunday on 600 acres in Rathfinny on the coast of England.

“I’ve always loved wine but this is a commercial operation, not a vanity project,” Driver said. He projects the business to become profitable in 2017 on a cash-flow basis and hopes that by 2020 he can begin repaying some of the investment in the vineyard. He’s observed that global warming will have a positive effect on the potential for English wines.

Top 5 Reasons Lax Bros Make It On Wall Street

Attention, undergrads! Do you want to groom your resume and land a job on Wall Street? Pick up your lacrosse stick.

Bloomberg Businessweek reports that lacrosse is a breeding ground for bankers, funneling them from high school to college to junior positions at big banks. But why?

Facebook Issues Warning to Employers & Threatens Legal Action Over Password Requests

Facebook is warning employers not to demand the passwords of job applicants, saying that it’s an invasion of privacy that opens companies to legal liabilities.

The social networking company is also threatening legal action.

An Associated Press story this week documented cases of job applicants who are being asked, at the interview table, to reveal their Facebook passwords so their prospective employers can check their backgrounds.

Yes, Virginia, Employers Really Do Discriminate Against the Unemployed

In case you thought that the stories about employers refusing to even consider hiring the long-term unemployed were overblown, think again. It’s happening more than you think. Look at what happened to Michelle Chesney-Offutt, a 54-year old information technology expert from Illinois. She was told by a corporate recruiter that she could not be considered for an IT job, because the employer would not hire anybody who had been unemployed for more than sixth months.

New Report: How To Get Your Resume Past Automatic Tracking Systems

Remember the resume black hole I wrote about a few months ago?

It’s one of the main reasons that the online job search has proved so frustrating for millions of unemployed people. When they send off their resumes for positions posted online, those resumes are often not read by human eyes.

Instead, they fall into the claws of a robot. Also known as the “resume black hole,” this system prevents many resumes submitted online from ever seeing the light of day in a hiring manager’s office. Large companies employ these automated resume screening systems to cut the labor costs of manually reviewing the thousands (and many more depending on the size of the company) of resumes submitted for each position.

Job Search Tips from Michael Weston

If you’ve ever watched Burn Notice on the USA Network, you’ll know that the show’s protagonist–burned spy Michael Weston–never takes no for an answer. Whenever his character encounters any difficulties in enacting his master plan (and he always does), actor Jeffrey Donovan calmly and coolly describes the next step in his trademark witty voiceover.

Do you ever wish that his voiceover would pop on in the midst of a difficult situation in your life? For example, when you are sitting in an interview and the interviewer asks you a question that catches you off guard.  Or when you want to go up to a leader in your field at an industry event–but you don’t know the best way to approach him. Or after you’ve sent out resume after resume but have gotten no response.

Job Seekers: Employers Want Your Facebook Password

This is unbelievable.

In a complete violation of rights, employers have recently been asking candidates during interviews to provide their login information for social media accounts like Facebook and Twitter.

This is akin to asking to snoop around a candidate’s bedroom while they wait behind a closed door.

Hand-written or E-mail? The Final Answer to the Thank-You Note Debate

Here it is, folks: the final answer to the debate you’ve heard raging around you about thank-you notes.

It’s not a question of to send or not to send. You must, must, send a thank-you note after an interview. It’s the polite and professional way to follow-up with your interviewer and craftily re-emphasize both your qualifications and your interest in the position.

Creating Your Own Luck: 12 Steps for Advancing Your Career

With St. Patrick’s Day just behind us, many job seekers are hoping the luck of the Irish will have rubbed off on their careers. However, career professionals say unemployed workers can stop searching for four-leaf clovers and planting money trees and create their own luck. After all, luck is the intersection of preparation and preparation.

The “Bespoke” Candidate—Making Sure You Are a Perfect Fit

The British term for perfectly fit and custom-made is “bespoke,” and in many ways you could say today’s, demanding financial services job market is looking for those “bespoke” candidates, who not only represent the best talent, but who are also the best fit.

Many companies are upgrading a number of roles, such as that of the CFO and other senior finance positions, and they need exceptional leaders to help navigate the firm into the future. They know the importance of hiring “smart” and what can happen when the fit isn’t right. A market full of quality candidates makes the job of finding the right financial executive even more complicated.

6 Things To Do Before Your Job Interview

Before you walk into a job interview, you want to give yourself every opportunity to show your best self. Even if your interview is later today, there’s still time to improve your chances. Here are six things to do in the hours and minutes before your meeting:

Eat brain food: Put down the glazed doughnut — it’ll just leave you susceptible to an energy crash during your big moment. Instead, fill up on meals and snacks that will sustain you and won’t leave your stomach growling mid-question. “Eat meals that are low on the glycemic index and combine carbohydrates, fats and proteins,” says Tony Morrison, vice president of Cachinko, a social networking and professional community. “Proven brain food includes fish, blueberries, spinach, nuts and legumes.”

9 Ways I Saved Money Between Jobs

The last time I got paid was Feb. 7. The earliest I can expect to get paid again is March 15. Why? Because I ended one job and I’m starting another, with a little time off in between.

I’m not saying this because I feel sorry for myself. For reasons I’ll detail below, I’m doing fine. I’m bringing it up to remind other freelancers (and fully employed folks) to get creative about meeting your needs.

10 Strangest Job Interview Questions Asked in the Past Three Months

Although there are no “correct” answers, wacky interview questions will make you think on your feet.

Google’s famous for its mind-numbing teasers, which included ”How many golfballs can fit in the school bus?” and we gave you the 25 weirdest job interview questions at the end of last year.

Three months into 2012, interviewees are already posting on Glassdoor some of the strangest, off-the-wall, quizzical look-induced questions they’ve been asked by interviewers.

The 13 Best Resignation Letters of All Time

Goldman Sachs former executive Greg Smith’s op-ed piece in the NYT on Wednesday caused more than a stir, but he’s not the only person to publicly make a fuss when resigning.

He’s not even the first banking executive to quit using the NYT’s op-ed page.

Whatever encourages their behaviors, these people have decided to quit their jobs with some controversial style. We’ve compiled 13 epic quitting examples.

Here’s How to Get Hired at a Hedge Fund

It’s all about your personality, Business Insider reports.

Why?

“Hedge funds are in general … firms with 90 people or less, so it’s almost like a family as opposed to [for example], thousands and thousands of employees at BofA Merrill Lynch,” Bob Olman, managing director at executive search firm Alpha Search Advisory Partners, told BI. “When you’re working with 30 to 90 people, and that’s the entire company … the chemistry becomes so much more important.”

The Number One Way You Are Sabotaging Yourself In Your Job Search

If you have been involved in any project for a certain length of time, if it has consumed your attention and occupied your mind intensively, the biggest favor that you can do for yourself is to take a step back.

Why? You need to gain perspective.

In a day and age when most job seekers are out of work for longer than three months, and often for periods of up to a year or more, I believe that losing perspective on the search is the number one obstacle that all job seekers face.

Goldman Sachs Heads West

Some 2,000 miles away from the hustle and bustle of Wall Street, Goldman Sachs Group Inc. has found an unlikely second home: Mormon country.

Low taxes, tax breaks and a cheap but well-educated workforce persuaded Goldman to go on a hiring binge in Salt Lake City. The bank now employs 1,300 people here — putting Utah’s capital city on a path to become Goldman’s fourth-largest global operation, behind only New York, New Jersey and London.

Choosing a New Career–Editor’s Notes, March 7, 2012

One of our contributing writers e-mailed me last week to see if he could share his story about transitioning from a career in finance to a career in writing.

As so many readers recently have commiserated about struggling to find work after being laid off later in life, I thought this was a great idea.

Escaping the Subprime Contagion

Back in the day, my not so illustrious career in the finance sector kicked off with a now defunct investment bank high atop long fallen Tower Two of the World Trade Center. I served as a liaison between the legal department, the mortgage finance desk and the repo traders.

Good News and Bad News: The Unemployed Are Disappearing, But Not Into the Workforce

When is a falling unemployment rate not a good sign?

Though the government has been applauding an unemployment rate that has held steady or fallen in the past few months, a Barclays Capital research report prepared by economists reveals a troubling new trend regarding the job market and the unemployed.

How To Answer Ten Trickiest Interview Questions

You finally got the interview. But how do you prepare for potential questions that actually intended to slip you up?

It might not seem fair, but businesses frequently resort to these sorts of questions. Often, the interviewer is hoping that you will “slip up” and reveal a troubling detail about yourself or your past. If the interviewer can eliminate you based on just one question, it saves him or her a lot of time.

Job Shuffle 3/5/12: Merrill Lynch, Raymond James, Citigroup, Goldman Sachs

Philadelphia-based brokerage Janney Montgomery Scott has landed a longtime former Merrill Lynch adviser who managed $250 million in client assets at the firm, in a move that bolsters Janney’s presence in the region. AdviserPeter Sargent joined Janney last week in Yardley, Pennsylvania, becoming the biggest single adviser hire based on client assets to join the firm this year, Janney said on Friday. [Reuters]

Jamie Dimon, You Were Wrong

In his comments last week protesting the media’s often critical treatment of pay structure at banks like his JP Morgan Chase, Jamie Dimon pointed the finger back at the media.

No Unemployed Need Apply

Longterm unemployment has reached crisis levels in the United States. Since December 2009, the unemployment rate of the long-term unemployed—people who have been looking for work over six months—has remained above 40%. That’s nearly 1 in 2, compared to a current rate of 8.3% in the general American population.

Leaving on a Jet Plane: The Life of an Extreme Commuter

Think your commute is tough? Wait until you hear about these extreme commuters. “Super commuters,” asBloomberg Businessweek calls them, travel long distances to get to their jobs. How far? Well, some use planes, trains and automobiles to arrive at their workplace.

Three Types of Employees Being Fired Now

The unemployment rate remains stubbornly high. Certain sectors such as the financial services industry continue to see a steady stream of pink slips. And by now, four years after the crisis, everyone should know not to take their job security for granted. No job, it turns out, is secure any more.

Now Hiring: Bank of America, Wells Fargo, JP Morgan

A report from the Fed released yesterday concluded that Bank of America, Wells Fargo, and JP Morgan Chase need to revamp their compliance programs and communications with customers. “Examiners found unsafe and unsound processes and practices in residential mortgage loan servicing and foreclosure processing at a number of supervised institutions,” according to the report.

Now Hiring: Cantor Fitzgerald Plans to Increase Investment Bank

As many banks close, sell, or restrict their investment banks, Cantor Fitzgerald is expanding. From Here is the City: Shawn P. Matthews, Chief Executive Officer of Cantor Fitzgerald & Co., said, ‘We are going to refocus and amplify our team.

So Your Career Is Over: Emergency Action Plan

It could happen to you. Maybe it already has. For ten, twenty, or thirty years, you diligently furthered your education, worked long hours, grew business at your firm, were a dedicated and loyal employee, and developed your own skill set, responsibilities and leadership.

Then, one day, you are packing your things into a box and going home. For good. And one year, two years later–you are still sitting on the couch, looking for another position.

Morgan Stanley Veterans Plan Advisory Boutique, Will Hire Aggressively Across Wall Street

The Financial Times reports that a new boutique advisory group of senior Morgan Stanley managing directors hopes to take advantage of a weak hiring market on Wall Street and poach talent from big banks. The new group will be called Dean Bradley Osborne or DBO Partners.

Hedge Funds Need to Fill These Positions

Do you want to get hired by a hedge fund in 2012? The job market is tight, but there’s still some hope. Business Insider reports on the positions that hedge funds need to fill this year–and the added obstacle you face in getting selected for one of them.

The insights come from Bob Olman, managing director at executive search firm Alpha Search Advisory Partners.

10 Toughest Wall Street Interview Questions: Can You Get the Right Answer?

As a follow-up on one of our most popular articles of all time, 50 Incredibly Annoying Interview Questions, we offer you the ten most difficult Wall Street interview questions we’ve heard of. If you’ve had more difficult–please let us know in the comments section below.

You promised, You Promised. I Hate You. I’ll Sue You.

Perhaps Brooklyn Law School taught their students too well.

Usually, when a student graduates from college or graduate school they seek out a job. In good markets the job search can be easy with multiple offers to consider.  In tough market such as this; it is not very easy.

Honey Don’t Touch Him, He’s Been Unemployed For Over Six Months!!

Politicians and media often discuss the stubbornly high rate of unemployment.  The unemployment rate remains statistically high and vacillated in the 8 to over 9% range since the financial crisis.

The statistic doesn’t include people who are underemployed or just gave up looking for a job.

Why Should I Hire You? And 27 Other Interview Questions You Need To Know

Over the last ten plus years my team and I have placed over one thousand professionals on Wall Street.

This entailed tens of thousands of employee interviews.

We thought it would be helpful to offer tips garnered through our experience to assist you in your job search.

Wall Street Hiring Scene: Not so good

Out of the ashes of the financial crisis of 2008, investment banks, brokers and other financial services firms ignited their hiring.

Wall Street historically tends to overreact in dramatic fashion when it comes to hiring and firing.  Since employee compensation comprises the largest expense at firms, it is usually the first to be cut.

Drive Your Interviewer Crazy in 10 Easy Steps

Our guide to annoying, irritating, alienating and disgusting your interviewer will absolutely guarantee that you don’t get a callback for a second interview, let alone the position. Follow these ten simple steps to ensure that no matter what your qualifications, prior experience, or relevant skills may be, your utter lack of consideration, etiquette, common sense, and general courtesy, will have your interviewer counting down the minutes until the meeting is over and throwing your resume in the trash immediately afterward.

Barclays Continues Advisor Hiring Spree in Chicago, Los Angeles

Barclays Wealth has tapped eight financial advisors to join its Los Angeles and Chicago forces in its latest move to bolster its Americas expansion strategy.

Is 50 the New 30 in the Workplace?

Here is some positive news for mature Americans who fear that they will never get hired or hate being locked into their current career: USA Today reports that employers value workers over 50 as more committed and reliable than their younger competitors.

Where the Finance Jobs Are in 2012

Despite all the bonus-capping, salary-cutting, hiring-freezing, layoffs, deferred stock, and clawbacks, there is some bright news on the Street this year. Some sectors that hired last year will continue to do so into 2012, and many firms that are not in the spotlight are planning to grow their teams this year.

Full Text of the Summer Analyst Cover Letter That Went Viral On Wall Street Last Week

You’ve probably seen snippets online of the cover letter to end all cover letters, or perhaps it was forwarded to you, as it was to employees at Goldman Sachs, Morgan Stanley, Nomura, Citi, Deutsche Bank, PricewaterhouseCoopers, KPMG, Wells Fargo, Keefe, Bruyette & Woods, Perella Weinberg Partners, and Barclays Capital. The letter, from an NYU student applying for a summer analyst position at JP Morgan, was circulated last Thursday and laughed at widely. (Most of the comments in the e-mail chain contained at least one “lol.”)

How to Land An Interview: Tenacity and Honest Self-Assessment Are Key

It may not be as easy as making a sandwich or booking a vacation, but getting hired—at your ideal position—is a doable task. These tips from executive recruiter Jack Kelly are informed by his behind-the-scenes experience with job seekers and hiring managers. Settle in and get ready to do some honest soul-searching to help you put your skills and experience in perspective and consider your next move wisely.

How To Land An Interview, Part II: Don’t Waste Other People’s Time

How can you make your job application stand out? Just use common sense. Basic courtesy and a little forethought are the keys in getting an interview at your ideal company. Think a little bit about the human being on the receiving end of your application, and try to make his or her life easier, not harder. Remember, recruiters and hiring managers are people too.

You’ll Interview Better In These Colors

You know that you only have one chance to make a first impression. And you know the basics about how to present yourself: washed and styled hair, a nice watch, a well-fitting suit or professional dress, not too much perfume. But what if there were a language of color that you can master to control the first impression you give?

How To Get Your Resume Past Computer Screening Tactics

Today’s technologically sophisticated job applications often leave applicants wondering where their information ends up. As an unopened e-mail, buried at the bottom of a hiring manager’s overflowing inbox? As “new submission” entry #578 in an internal online database? Or perhaps as a bulletpoint on a low-level employee or intern’s to-do list: “Print and screen job applications.” The answer to this question, it turns out, is even more disturbing.

The Worst LinkedIn Summary You Could Have

Like the summary section on your resume, your summary on LinkedIn is your opportunity to make a great first impression–one that will, ideally, lead to a real first impression. This space is your chance to send a message to viewers of your profile about who you are and what you can do for them–a message that MUST be delivered succinctly and efficiently in order to be effective. Unfortunately, far too many professionals inadvertently squander this opportunity. What are the worst mistakes you can make in your summary?

25 Things a Professional Woman Should Never Wear

How you choose to dress each morning reflects how you feel about your job – that you take your position seriously, that you are ready to work and that you pay attention to detail and know what you expect to encounter that day. You wouldn’t go to a construction site in your favorite four-inch stilettos, right?

Is Listening the Best Interviewing Strategy?

Think about some of the best opening conversations you’ve ever had – the ones where you walk away thinking, “Wow, that went great! What a guy!” Now think of the worst initial conversations you’ve had – the ones that seem to last forever without going anywhere, making you want to scream, “This guy SUCKS, get me out!”

How to Write a Captivating Cover Letter: Don’t Leave Out These Three Things

A perfect cover letter is like the far-off lake that a parched desert wanderer spies on the horizon. The harder you try to reach it, the further away it seems. Does it really exist–or is it just a beautiful mirage?

JPMorgan to Hire in 2012

Despite a weak second half and continued market volatility last year, JPMorgan added 20,300 employees and intends to keep hiring in certain areas in 2012.

The bank increased total headcount to 260,157, an 8% increase over the year-earlier period, the bank said in its latest earnings report.