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I consider employers like ^^^this to be simply out of touch.
I'm willing to bet this Wall Street executive is either from the early cohort of Generation X (pre-1975) or a Baby Boomer.
They entered the work force and progressed in their careers at a time when companies were growing by leaps and bounds, and thus could afford to offer the pay & career growth their top-performing employees deserved. They also entered the work force and progressed in their careers at a time when offshoring and illegal immigration weren't major concerns, as the protectionist policies from the New Deal era hadn't yet been repealed and the rest of the world was still recovering from their lost in World War II.
That said, the environment has changed completely for those who are entering the work force now and trying to progress in their careers. In the wake of the recession, many folks have to contend with companies that are either growing very slowly (because of how low customer demand remains and how debt-laden these companies are), have offshored the lion's share of their operations, or companies that have flat-lined in growth. Long gone are the days of 5%-10% raises each year, clear/steady career progression, pensions and thousand dollar bonuses for high performance.
Job hopping will become the new norm as people continue to adjust to our new economy. Folks such as that Wall Street executive will soon be moving on and a younger, more in-touch group of workers will take their place.
I love job hoppers. It shows that they have: a) propensity for risk, and b) diverse background.
There is nothing more toxic in a business world than "inbred thinking".
It's true. Job hoppers ARE usually the best workers. This is because, in reality, they're simply top performers who are overly-ambitious about their career goals.
They want to go out of their way to impress you with their work ethic in the hopes of receiving rapid advancement and huge pay increases in return.
They become disillusioned job hoppers once they realize the company they're working for can't afford to offer them the huge increases in pay or the rapid career advancement they desire (and deserve).
It's true. Job hoppers ARE usually the best workers. This is because, in reality, they're simply top performers who are overly-ambitious about their career goals.
They want to go out of their way to impress you with their work ethic in the hopes of receiving rapid advancement and huge pay increases in return.
They become disillusioned job hoppers once they realize the company they're working for can't afford to offer them the huge increases in pay or the rapid career advancement they desire (and deserve).
of course. To rise one has to be a "hopper". I'm curious, did all these big dog C execs who bash "hoppers" just inherit their positions by divine right or some aristocratic lineage? Of course not. Unless you have names like Hearst, Astor, Morgan, et al, the majority of these big talkers like that schm**k referenced before have HOPPED THEIR WAY into their successful careers. I'm curious how many people he's destroyed and laid waste to, while climbing himself. He's just another dated hypocrite. He's afraid. His fear is talking. Younger, smarter, more deviously ambitious blood is going to eventually supplant him. He's going to live forever and enjoy the spoils of his "success"? Please...he's a dinosaur. - and no, I would never EVER invest even a penny in him or his firm.
It's true. Job hoppers ARE usually the best workers. This is because, in reality, they're simply top performers who are overly-ambitious about their career goals.
They want to go out of their way to impress you with their work ethic in the hopes of receiving rapid advancement and huge pay increases in return.
They become disillusioned job hoppers once they realize the company they're working for can't afford to offer them the huge increases in pay or the rapid career advancement they desire (and deserve).
Exactly. Good employees realize their true worth and know there has to be something better out there.
Job hopping takes confidence, man. To start all over is not easy and makes life very crappy as you never find your roots to plant but once your place is found, you are there for good. If I am a job hopper with bad work ethic, I must be doing something right since I am making 67% more money than I was when I first entered my industry. This is without even a Bachelor's Degree, too.
Meanwhile I know some guys that are at the same place for about 10 years making little over minimum wage all in the name of security and comfort. Sometimes you do have to pack your bags and go somewhere new to move up in life. But people who stay in their comfort zones, those are the ones who don't advance.
Here is the kicker, though. Sometimes employers don't want risk takers or workers who go outside of their comfort zones. They want lap dogs who feel that their employer can provide them everything they need, so they will stay for life and never try to rise above. This scares some employers. You don't an employer who is potentially afraid of employees rising up. It means you will always be held down. Think a smaller scale dictator.
of course. To rise one has to be a "hopper". I'm curious, did all these big dog C execs who bash "hoppers" just inherit their positions by divine right or some aristocratic lineage? Of course not. Unless you have names like Hearst, Astor, Morgan, et al, the majority of these big talkers like that schm**k referenced before have HOPPED THEIR WAY into their successful careers. I'm curious how many people he's destroyed and laid waste to, while climbing himself. He's just another dated hypocrite. He's afraid. His fear is talking. Younger, smarter, more deviously ambitious blood is going to eventually supplant him. He's going to live forever and enjoy the spoils of his "success"? Please...he's a dinosaur. - and no, I would never EVER invest even a penny in him or his firm.
Exactly. He can't hire someone like him because then who will fetch his morning coffee and bark when he says "speak"?
But even if he hires a younger version of him who will fetch his coffee and wipe his ***, that person is not going to do it for long, without expecting something in return. The younger version would expect a hefty paycheck to be a lackey for him, hefty benefits, and most importantly, HIGH END CONNECTION TO SECURE HIS FUTURE. Without the guaranteed connections and "endorsements" into that "world", what's the point? One can fetch coffee and take abuse at some mom and pop in Queens, NY.
But even if he hires a younger version of him who will fetch his coffee and wipe his ***, that person is not going to do it for long, without expecting something in return. The younger version would expect a hefty paycheck to be a lackey for him, hefty benefits, and most importantly, HIGH END CONNECTION TO SECURE HIS FUTURE. Without the guaranteed connections and "endorsements" into that "world", what's the point? One can fetch coffee and take abuse at some mom and pop in Queens, NY.
Yeah this is true. Our generation expects more because more is expected of us. Especially in the days of the internet, when you can learn about opportunity thousands of miles away that can be better than the craphole you are in currently.
I have had a long and successful career on Wall Street. My biggest regret? I didn't change job soften enough.
I was loyal to my firm. I didn't dash acorss the street for twice as much money. I stayed and did the dirty work, thinking that the firm and I were a partnership.
Really, really dumb on my part. When some asshat in the bond department blew up the firm, they didn't show any sympathy to me. When the risk arb department choked on a huge airline position that was supposed to have been sold, they didn't say, well, here's your bonus anyhow because you have been a loyal employee.
Wall Street is a dog eat dog world. You thrive, or you die. If the guy across the street offers you a great deal, you take it. When the next better deal comes along, you take that too.
Anyone who thinks that great employees sit around waiting to be paid "next year" have not a clue as to how the modern world works. My talents and relationships, which is what Wall Street is all about, are VERY portable.
And, by the way, Mattlin Patterson exists because those guys nearly blew up Credit Suisse. They had HUGE bad positions, and they pleaded with management to allow then to continue on. Credit Suisse told them, if you guys love these trades so much, here, have them. They spun them off, took a huge write down, and said good riddance.
It sounds all righteous to say "we want people who want to put down roots here". But they also ought to remember that when they got fired from Credit Suisse First Boston, they didn't have any choice but to form their own firm. There were no "job hopping" opportunities available to people who had performed so poorly.
I don't have any problem with traders or anybody else on Wall Street. Some of them are actually very good at their job and treat the rest of humanity decently. The problem I have is with these particular arrogant lowlifes who collapsed the mortgage industry, the housing sector, and damaged other interrelated industries. The people who may be ruthless and do their job well, BUT WHO DO NOT ENGAGE in fraudulent and white collar crime, I can only respect. Some of my past clients were Wall Streeters. They're bright and ambitious and many deserve the $ they make. But the lowlifes who are grossly overpaid, never make enough and always obsessively scheme, they end up in the papers. So it's not surprising they prefer the company of felons, and that they scorn "job hoppers." These types scorn everyone else in general who does not make the same $, drive the same cars, live in the same neighborhood.
-that dude is a clown dinosaur.
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He's just another dated hypocrite. He's afraid. His fear is talking. Younger, smarter, more deviously ambitious blood is going to eventually supplant him. He's going to live forever and enjoy the spoils of his "success"? 
