eFinancialCareers

Wall Street is on its back, but scientists would be wise to take a contrarian approach and investigate careers in finance, says the American Association for the Advancement of Science. In a three-part feature on financial careers in its official publication, Science, the association likens preparing to enter the industry to the old investing maxim, "buy low, sell high." It also predicts demand for quantitative expertise and rigorous analysis will grow... Read more

To many, the annual performance review is about as welcome as a colonoscopy. Could any good ever come from a one-on-one where your boss – no matter how much he might respect your work - is required to detail your strengths and (mostly) weaknesses? Surprising as it may seem, experts answer in the affirmative. "Performance reviews are one of the few chances for employees to receive honest feedback that determines whether... Read more

A recent burst of mass layoffs from Canadian securities firms coincides with continued opportunistic hiring by those same firms. The Globe and Mail reports that Canaccord Capital announced a 10 percent staff cut last Thursday – eliminating 170 jobs mainly involving support roles. Yet Canacord recently hired two senior ex-JPMorgan bankers to run its fixed-income business, as well as making other hires in New York from JPMorgan and in Britain... Read more

The news hits you like a truck: the financial institution you work for has agreed to be acquired. Now what to you do? While it might feel like your fate has been snatched from your hands, experts lay out several steps you can take to improve your chances of keeping your job after a merger. Through both words and deeds, you'll need to mount an active effort to prove your value... Read more

In the financial job market, when it comes to education and credentials, the more the merrier. So how do you determine which are right for you? At a time when many job postings ask for a master's degree and/or a professional designation, earning both is important "if you want to see your resume go to the top of the pile," says Tom Robinson, head of educational content for the CFA... Read more

Hedge funds continue prospecting for portfolio managers and analysts, even in the face of weakening returns, diminished access to credit and the threat of investor withdrawals and prime broker failures. However, financial turmoil is forcing many smaller hedge fund firms to cut back, and is slowing the hiring process even for large fund companies that view the crisis as an opportunity to recruit top talent that wasn't available before. Nevertheless, hedge... Read more

Sometimes, the toughest question in a job interview is, “Do you have any questions?” Vicky Oliver found out the hard way. The author of 301 Smart Answers to Tough Interview Questions recalls interviewing for a position at Vogue early in her own career. When the hiring manager asked if she had any questions, Oliver replied, "Just one: When do I start?" That flippant reply cost her the job, she says. Now, she... Read more

For many job-seekers, working with search firms is an emotionally laden topic. We asked recruiters and career counselors for some do’s and don’ts to help you make the most of opportunities these agencies can offer. The first step is to understand their role in the hiring process. If you believe the recruiter’s mission is to “help you get a job” - as one eFinancialCareers reader commented on a story - then... Read more

Inducing recruiters to pay attention to you is a lot like borrowing money. If you don't ask until you desperately need it, then you're sure to be rejected. So if your current job isn't on the chopping block yet but might get axed next year, now is the time to reach out to people who can open a door to new opportunities. A recent Forbes article offers several tips for attaining... Read more

First, there was “digital dirt.” Now there are the “unGoogleables.” By dramatically compressing the time and effort needed to retrieve, publish and transmit information, the digital economy has reduced what economists call frictional unemployment - thereby benefiting both job-seekers and hiring managers. But progress has its price, according to The Wall Street Journal. As the work of researching candidates has largely shifted to the Internet, information that employers learn about applicants increasingly... Read more

Do you ever feel pigeonholed when you're looking for a job? Make sure you're not pigeonholing yourself. Some job-seekers paint their skills and experiences in identical language whenever they send out a resume or go to an interview. But talk to a career specialist, and they'll tell you candidates who don't modify their presentation to fit a specific employer's needs are shooting themselves in the foot. "You should never lie, but you... Read more

If you're a financial services professional hoping to land a job in a bulge-bracket institution, your prospects just nosedived. And if you've been aiming for a slot in a hedge fund or in one of the many boutique banks that are still hiring, get ready for a flood of new competition. Monday's bankruptcy filing by Lehman Brothers Holdings and the surprise deal for Bank of America to acquire Merrill Lynch will... Read more

Below-market salaries are impeding Canada's central bank from fielding a world-class research team, according to a recently published report by an authoritative panel of U.S.-based economists commissioned by the Bank of Canada itself. The panel found "a substantial inconsistency" between pay scales and the bank's official objective of operating a “second-to-none” research department. "The Bank faces a difficult choice: either abandon the objective, or increase the amount of resources for economist... Read more

Negotiating compensation is a delicate dance that begins when you first apply for a job. Often, candidates are asked for information they may not wish to provide at the outset, when a job posting asks for their current or most recent compensation. "I have real reservations about disclosing comp without knowing who the other party is," says New York career counselor Roy Cohen. On the other hand, if a company... Read more

You're a private-client relationship manager responsible for $300 million in assets, but your employer is trimming both bonus allocations and back-office resources that support your activities. What are your choices? If you work for a large institution that's retrenching amid the credit crunch, jumping to a private-wealth boutique could be a viable option. Or, a mid-career private wealth manager whose current business is stagnating might think about relocating to a high-growth... Read more

Goldman Sachs recently opened a hedge fund administration office in Toronto, Ontario's provincial government announced early this month. The number of jobs was not disclosed either in the announcement or media coverage of it. "Goldman Sachs has opened its newest Goldman Sachs Administration Services (GSAS) office in Toronto with Fund Accounting and Investor Servicing areas of its hedge fund administration operations," said the statement from the Ontario Ministry of Economic Development... Read more

Citigroup reportedly is reshaping its bonus system to emphasize divisional cooperation and overall corporate performance. "We have to put a premium on partnership-like behaviour," an unnamed Citi executive told the Financial Times. The FT describes the change as a key plank in Chief Executive Vikram Pandit's strategy to revitalize the "universal banking" model by fostering synergies among investment banking, commercial banking and wealth management. Pandit reportedly asked Citi's HR chief to... Read more