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Old 01-10-2008, 11:39 AM
 
17 posts, read 69,344 times
Reputation: 12

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Hello,

I posted about this a few months ago, and received some very helpful info. I am planning to move from Boston to Charlotte at the end of February... when I first decided to do this, the economy and job market was in good shape, especially in Charlotte. Many months have since passed, and now that I am ready, it seems like it may not be a good idea. I have a finance degree, 4+ yrs experience (both in banking and in a finance department), etc. Through some networking, I've been able to get my resume into Wach and BofA, and have spoken to some headhunters... I continuously hear that "things will get moving in the job market in Feb/Mar/Apr" yet I am starting to get a bad feeling about it (based on the current state of the national ecomony, job market, recent articles, etc)... and it could get worse once the big banks release their Q4 earnings...

My question here is: do you feel that Charlotte will truly be adversely affected by all of this. I know that no one really knows for sure until its too late, but for those of you currently working in the Financial field, do you get a sense that your companies will be hiring over the next few months? Also, how much does the performance of the big banks affect other companies in Charlotte?

Thanks in advance for your help!
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Old 01-10-2008, 11:42 AM
 
Location: State of Being
35,879 posts, read 77,483,478 times
Reputation: 22752
Quote:
Originally Posted by sapx2 View Post
Hello,

I posted about this a few months ago, and received some very helpful info. I am planning to move from Boston to Charlotte at the end of February... when I first decided to do this, the economy and job market was in good shape, especially in Charlotte. Many months have since passed, and now that I am ready, it seems like it may not be a good idea. I have a finance degree, 4+ yrs experience (both in banking and in a finance department), etc. Through some networking, I've been able to get my resume into Wach and BofA, and have spoken to some headhunters... I continuously hear that "things will get moving in the job market in Feb/Mar/Apr" yet I am starting to get a bad feeling about it (based on the current state of the national ecomony, job market, recent articles, etc)... and it could get worse once the big banks release their Q4 earnings...

My question here is: do you feel that Charlotte will truly be adversely affected by all of this. I know that no one really knows for sure until its too late, but for those of you currently working in the Financial field, do you get a sense that your companies will be hiring over the next few months? Also, how much does the performance of the big banks affect other companies in Charlotte?

Thanks in advance for your help!
Are you saying you are moving here w/o having secured a position?
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Old 01-10-2008, 11:44 AM
 
17 posts, read 69,344 times
Reputation: 12
Kinda... initially, it was a much better job market, and I didnt think it would be a problem. I have to make a decision at some point (I rent, and my lease runs out), and I am prepared to go a few months w/out a job while I look for one (staying w/ a friend, so no rent to pay while I look)... I just dont want to get into a situation where I can't find employment...
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Old 01-10-2008, 11:51 AM
 
Location: Up above the world so high!
45,218 posts, read 100,712,871 times
Reputation: 40199
Quote:
Originally Posted by sapx2 View Post
Kinda... initially, it was a much better job market, and I didnt think it would be a problem. I have to make a decision at some point (I rent, and my lease runs out), and I am prepared to go a few months w/out a job while I look for one (staying w/ a friend, so no rent to pay while I look)... I just dont want to get into a situation where I can't find employment...
This would have been a bad idea LAST year, but even more so now. Reconsider coming until you have a job offer, you could find yourself in a bad situation otherwise (unless of course you have six months worth of savings to live on and can afford to spend it that way!) Our job market is very tight - many, many applicants for every one job.
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Old 01-10-2008, 12:01 PM
 
Location: State of Being
35,879 posts, read 77,483,478 times
Reputation: 22752
Quote:
Originally Posted by lovesMountains View Post
This would have been a bad idea LAST year, but even more so now. Reconsider coming until you have a job offer, you could find yourself in a bad situation otherwise (unless of course you have six months worth of savings to live on and can afford to spend it that way!) Our job market is very tight - many, many applicants for every one job.
I don't mean to sound like the voice of doom, but I have to agree w/ Loves. One of my friends has worked for BofA for 19 years (started out w/ another bank wh/ BofA bought out) . . . and in the last 6 years, she has been "down-sized" twice. She was out of work the last time for nearly 18 months. Then BofA hired her back, but in a totally different department. She has a finance degree and great experience . . .

I have another friend who came here w/ a temporary IT contract (Wachovia). . . and once the contract was over (for IT development) - no further work.

I would be very circumspect about making this move w/o having secured a position already.
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Old 01-10-2008, 12:36 PM
 
240 posts, read 1,021,952 times
Reputation: 99
I have a friend that was laid off from Wach yesterday after 19 years. His manager and the other people in his office were laid off before Christmas. He was told that there positions were being sent offshore in June.
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Old 01-10-2008, 12:50 PM
 
Location: North Carolina
6,957 posts, read 8,490,829 times
Reputation: 6777
Quote:
Originally Posted by Washingtonian View Post
I have a friend that was laid off from Wach yesterday after 19 years. His manager and the other people in his office were laid off before Christmas. He was told that there positions were being sent offshore in June.
Remember, that while Charlotte is now #2 in banking and finance, it is a distant #2 to New York. If you don't have a job lined up, I would take the other posters' sage advice on not coming down here, until you do. Unfortunately, about 50,000 people had the same idea as you've had and beat you to the punch! Everybody and their grandmother thinks that Charlotte is the answer to their employment and housing problems. The only way to ensure success down here is to be retired and have sold your house for a good chunk of change! For people in those circumstances a Charlotte move is a no-brainer! Sorry I can't be more upbeat! But if you do get a solid job offer here, it's certainly worth a shot!
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