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Well it definitely does make your resume look golden. GS is one of the best things to have on your resume in Finance. My friend gets paid 6 figures on his bonus alone and so does his sister. They definitely do make a lot of money, even analyst that starts out make very good money. From GS, you pretty much have the edge when applying to other finance companies. But what sucks is the super long hours, not good if you have a family
My agency hired analysts for them. They're doing a LOT of temp positions through agencies these days. Average pay was around $25/hr. Not good money in my books. I guess it depends.
I KNOW!! It's really a joke, and the funny part is, they probably won't even consider a person that has 15-20 years experience in reception or admin type work, just simply because they don't have a college degree.
They won't consider a person with 15-20 years because that person would (rightfully) expect more than $15/hr. That person would also expect some respect and not to be ****ed around with. Also, things like sick kids, PTA meetings, etc come up that are soooo inconvenient.
A newly minted grad insures that the 35k salary will be happily (for a time) taken, rules out complete stupidity (for the most part), and you can treat them that much worse because they don't know any better.
As long as there is much more supply than demand in the labor market things like this will go on. Business owners will squeeze workers for as much as they can.
I actually had a friend who is a small business owner (about 1MM in revenue/year) complain to me that the min wage was too high. If only he could pay folks less than min wage than his business would run better. lol Most business owners who run average businesses (as in nothign special, no big YoY growth) , view labor as a cost that takes money out of there pockets. Nothing more. You aren't an asset. You're a liability. Although a necessary liability but a liability nonetheless.
Last edited by wawaweewa; 06-08-2011 at 07:59 PM..
My agency hired analysts for them. They're doing a LOT of temp positions through agencies these days. Average pay was around $25/hr. Not good money in my books. I guess it depends.
Temp in what positions?
Def not in front office or operations.
Maybe in the back office?
It's a sign of the economy. There are too many overqualified applicants out there. It's even worse in some cases. You have people with degrees working for $10 an hour! The job market in nyc sucks. You combine that with the high cost if living and it makes you wonder why people are relocating here.
Aweitz--just replied to your message. I actually cannot believe you would even consider moving here after reading this thread. It totally perplexes me as to why people continue to move here, knowing fully well that the economy is in shambles. Many feel they will defy the odds and MOST go back home with their tails between their legs. Please THINK about what you are doing. I realize everyone wants to be in NYC because it's "cool" and "full of energy", but now is SO not even the time and trust me, NYC will ALWAYS be here. If this thread wasn't enough to give you a wake up call, I'm severely worried.
Florida ain't much better so I can't blame her (?).
Although there are states out there with relatively low UE rates which are closer to FL (TX, KS, OK) come to mind.
It's a sign of the economy. There are too many overqualified applicants out there. It's even worse in some cases. You have people with degrees working for $10 an hour! The job market in nyc sucks. You combine that with the high cost if living and it makes you wonder why people are relocating here.
Save for a few states, it isn't much better out there. Then add the fact that most are ignorant of just how high the COL is in NYC and you still have your movers. There are a lot of hidden costs to living in NYC that only natives would know about. A lot of these people moving either don't have anyone to inform them or those that they do talk to only tell them about the great things.
I actually had a friend who is a small business owner (about 1MM in revenue/year) complain to me that the min wage was too high. If only he could pay folks less than min wage than his business would run better. lol Most business owners who run average businesses (as in nothign special, no big YoY growth) , view labor as a cost that takes money out of there pockets. Nothing more. You aren't an asset. You're a liability. Although a necessary liability but a liability nonetheless.
wow. very sad that your friend views people this way.
Quote:
Originally Posted by wawaweewa
Temp in what positions?
Def not in front office or operations.
Maybe in the back office?
aren't many (or even most) operations back office by definition?
It's not. People think it makes their resume look great, but it really doesn't give you much edge and considering they are a BIG boy in the world of finance, they pay beans!
i agree to a large extent. boring mediocre people who fail to think outside the box just go with brand names. to use a fashion analogy: if you ask a faux fashionista to name movers and shakers in fashion: he/she will likely rattle off the marquee names everyone and their grandmother knows e.g. gucci, prada, armani. but if they show they're unaware of other solid, major, but non-marquee names, then you can pretty much conclude you're talking to a mediocre overall person. so the same goes for faux finance people. there are hundreds of successful well-respected solid not-necessarily-marquee companies looking to hire but if a predictable carrie bradsaw wannabe doesn't read the wsj and other sources of capital markets depth she will be stuck in a small mental box. to her own detriment. what you'll notice is that mediocre people don't think outside the box. i hate mediocrity, especially mediocrity combined with pretense or delusions. predictable mediocrity makes me roll my eyes to the sky. if i were a boss and interviewing lots of people, predictability would be a red flag for me- generally... well, depending on the position. regarding your comment about a big name's effect on a resume, sometimes it can help but here in nyc it's like "uh so what? u think you're special? newsflash. you're not." .. in my book it's not the name that matters, it's the specific position you had and more importantly how happy you were while in it and why. this would be my focus as a boss hiring.
Last edited by grimace8; 06-08-2011 at 11:14 PM..
Reason: added: "capital markets"
Aweitz--just replied to your message. I actually cannot believe you would even consider moving here after reading this thread. It totally perplexes me as to why people continue to move here, knowing fully well that the economy is in shambles. Many feel they will defy the odds and MOST go back home with their tails between their legs. Please THINK about what you are doing. I realize everyone wants to be in NYC because it's "cool" and "full of energy", but now is SO not even the time and trust me, NYC will ALWAYS be here. If this thread wasn't enough to give you a wake up call, I'm severely worried.
I am not that naive to think it will be easy. However, I am finishing up my work where I am abroad and will have no job when I return back to the States. In Florida it is just as bad as NYC. I have family to stay with for a few months so I might as well try. I would be in the same position if I lived in Florida with family.
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