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Most investment firms hire temps at some levels. None that I know of does so in the front office. Had you worked in a FO you would know that.
Also, you keep telling everyone to run from NYC. Do you even begin to understand how the rest of the country is doing? The fact is that if you are good at what you do, you at least have a chance here. What's more, if you are unemployed in New York, you have the option of working low paid gigs to get by while you try to get a better job. Try doing that in a city like Miami for example. Even minimum wage jobs are highly competitive over there.
Stop telling others how miserable everyone is in NYC, it isn't remotely true.
re: blue text = just because you've never witnessed it doesn't mean it doesn't happen. it does. i know for a fact that pinky's speaking the truth. and no, i don't know her personally.
re: purple text = trying to discredit people on a message board is immature. please cease and desist.
i dont think she's saying everyone's miserable in nyc. she's saying the exploitation has gotten out of hand.
Continue to THINK what you wish, but I work for an agency that staffs this AND I previously worked at one of the top 5 hedge funds in NYC.
It's not what I think. I just asked 2 friends who work in BB firms in IBD ( MS, BarCap) if they've heard of temps working in the FO and they said no. Thongs like this would be known thouhgh the rumor mill. Especially if it was in the numbers that you claim it is.
Idk why you dropped that you worked for a top 5 HF since it was prob in the MO or BO and nobody would really give a ****. If you did work in the industry you should know. FO is how the firms define themselves for better or for worse. There is a divi bet FO and the BO.
It's not what I think. I just asked 2 friends who work in BB firms in IBD ( MS, BarCap) if they've heard of temps working in the FO and they said no. Thongs like this would be known thouhgh the rumor mill. Especially if it was in the numbers that you claim it is.
Idk why you dropped that you worked for a top 5 HF since it was prob in the MO or BO and nobody would really give a ****. If you did work in the industry you should know. FO is how the firms define themselves for better or for worse. There is a divi bet FO and the BO.
Hilarious, because we just staffed 2 FO positions for Morgan Stanley. Who do you honestly think you're fooling? Do you work in the HR dept. of these hedge funds and investment firms? Are you friends with people in HR? I didn't think so.
Please CLEARLY define FO for me so I can REALLY make sure you know what you're talking about. What in the WORLD do you REALLY think that abbreviation means? You're starting to TERRIFY me. lol
re: blue text = just because you've never witnessed it doesn't mean it doesn't happen. it does. i know for a fact that pinky's speaking the truth. and no, i don't know her personally.
re: purple text = trying to discredit people on a message board is immature. please cease and desist.
i dont think she's saying everyone's miserable in nyc. she's saying the exploitation has gotten out of hand.
Hilarious, because we just staffed 2 FO positions for Morgan Stanley. Who do you honestly think you're fooling? Do you work in the HR dept. of these hedge funds and investment firms? Are you friends with people in HR? I didn't think so.
Please CLEARLY define FO for me so I can REALLY make sure you know what you're talking about. What in the WORLD do you REALLY think that abbreviation means? You're starting to TERRIFY me. lol
I already defined it a fe posts back.
Please state what FO positions you staffed lately. No need to get too specific. Just need division and title.
Ugh, this has been my experience here too, I applied to over 100 jobs before getting a couple interviews, and settling for my one offer at $15.75 an hour/$28,900 a year. I might be content with it if I gained any worthwhile experience, but it's essentially just a call center type job, with little growth potential. The company actually offered a higher starting wage ($35,000) before the recession and didn't require a Bachelor's until recently. It's pretty disheartening after going to a good college and working hard all these years I am barely getting by and living in a crappy apt in a bad neighborhood. I once considered law school or grad school, but the risk of taking over $100k in loans with little improvement in job options makes it seem like a poor choice. Went to numerous temp agencies after graduating and they never found me anything. One of my regrets was working part-time my whole undergrad career, rather than taking some unpaid, but more marketable internships or even joining a frat to make some good connections, back then it seemed more responsible but in hind sight I feel like I shot myself in the foot.
Same with me. I worked a part-time job through college (up to 38 hours a week) to pay for rent/food. When I started in college there were a few paid internships, but I never heard back. One interesting trend I noticed is that during my freshman/sophomore years of college, internships were mostly paid and it said recent college grads could apply and you needed to be at least a sophomore to apply. By junior/senior year most of the internships became school credit only and you had to be a student. I could not do unpaid because I would not have been able afford transportation/rent/food. On the news they are saying the best way to get into jobs is offer to do them for free, but how are you supposed to live. Isn't that basically creating the same situation that caused the housing bubble.
I have been checking out other locations, but they all seem to be in the same situation. I have a marketing degree so New York City is the main place, although Chicago has a few large firms. My main criteria is living somewhere with a good metro system or bike friendly towns so I do not need to have the expense of a car/car insurance. I have been looking at NYC, Boston, Chicago, Minneapolis, Portland, Denver, Boulder, San Francisco, and Baltimore. On c-d the message seems to be the same, do not come here unless you have a job in place or you have relatives/friends to stay with (and most jobs say local candidates only). But in marketing you basically have to go through an unpaid internship. Don't know if recruiters would bother with someone right out of school. And if there are jobs most start at around $30k (around what I am making right now, luckily I have family I am living with and only have to pay my cell phone bill, monthly train pass, groceries, student loans, credit card, and cable).
For me it became real when I tried to get a job at Staples, Best Buy, or Sears in sales so I would not have to defer my student loans. I was out of work for a year after graduating and my savings were running low. All three stores said they were hiring, the only one I heard back from was Sears. They said I was not qualified. Luckily I ended up getting two jobs in one week (one during the week, one weekend).
Hey, BSD's (BSD = Big Swinging...) of the internet,
I work in the FO of a Buy-Side Firm (hence the username). Graduated from a good school, have many roommates and former classmates in sell side firms (Goldman, Morgan, Citi, BarCap etc)
FO does not hire temps. FO does not need to hire temps. Anyone that's generating good revenue does not need to temp. FO does not say "oh, we need someone to generate more revenue...but only for 4 months"
BO hires temps. Pay 'em low!
FYI, temp secretary of IBD division is a FO division, but BO job, so it is classified as BO.
Operations analysts, finance analysts, business analysts = all back office jobs. Just because they are operations analysts in Sales and Trading does not make them Front Office.
Pinkybumpkin, you think Front Office hires temps? What are you smoking, I want some of that good stuff.
FYI, we use recruiters for back office positions, and for the most part they are dumb@sses and cannot understand industry jargon because they graduated from Party University USA with a 2.0 in communications.
Front Office people are connected, the industry is small, most front office jobs get filled through referrals (I have a friend from Harvard, I met so-and-so in an industry conference, etc), not through useless recruiters.
Last edited by NYCAnalyst; 06-09-2011 at 10:15 PM..
It should work to your advantage that you have a nice in between amount of experience. I have over 15 years admin/legal experience. I even have my paralegal certification and I have had no luck finding anything at all. I did get a call about a year or so ago for a big, well known law firm and I turned it down because I was comfortable at my current job. I could KICK MYSELF now.
I do want to get out of law though, but breaking into another field is hard when all you have is law experience.
I am just the same way with breaking out of law. I want to leave it. Working in legal would be my last option. I absolutely hated managing lawyers calendars when at the last minute they would be called to trial. Having to try and rescedule one month to three months worth of appoinments is a nightmare especially when there are deadlines for those cases. I also have my paralegal certificate but I have never used it. Most of my work experience is in the admin position so I can transfer those traits to any industry. (I am hoping)
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