25 years ago a Gallop Poll asked, “what is the American Dream”?

The reply “a right to worship, to have peace, to have a family, to own a home”

Recently, the American reply to this Question is, “to have a Job”

Which is in Line with the World answer to this question.

FACTS.

* 7 Billion people on Earth
* 5 Billion Adults
* 1.2 Billion Jobs.

Definition of a ‘good job’- 30+ hours of continuous work.

The reason for this is in the last 5 years “you are your job”

We have been here before in the early 80’s. The question is how do we get out this time, in a TRUE GLOBAL ECONOMY?????

I am not expressing political views in this forum, I am merely stating facts.

We are at a time now where one needs to think about;

“Why am I getting up today and going to my job?”

“Is this a Job or a Career?”

“Does my employer or firm have me in a position to succeed, maintain, or eventually become obsolete?”

“Am I positioned to take on new opportunities with my current skill set?”

“Where do expect I to be in 4 years career-wise”

If you do not have REALISTIC answers to these questions I can only tell you to

WAKE UP! WAKE UP! WAKE UP!

You are Allowing your Future and the Future opportunity of your Children to be DECIDED FOR YOU!

WAKE UP!

To quote Sherlock Holmes
“The Game is Afoot!”

Now is THE TIME for DECISIVENESS and ACTION!

Listen to me before you are reading my blogs from your home laptop, thinking that the best Point in Your Career is Behind you.

THE AMERICAN DREAM is still Real.

Its just that a Majority of Americans are still Napping!

INSIGHT FROM;

Jim Clifton, author of;

“The Coming Jobs War”

Thank you for your Time and Efforts,

Tracey Greene
TechExec Inc.
Senior Vice President, Financial Risk & Compliance & Technology Division
O:  (914)-235-5901
F:  (914)-355 -2160
E:         Tracey.Greene@TechExeconline.com
Blog:     http://tracey-greene.tumblr.com/
Twitter: http://twitter.com/WallStRecruiter/

Hiring during the first month of the 4th Quarter of the year is still full of opportunity, however the investment banks are realizing their issues in their ability to hire high level individual contributors (which they all are in need of) away from Smaller Investment and Financial Software firms.

“Tracey, we are in need of talent that isn’t silo’d in their skill set. The issue is that a lot of the big houses, would bring on a candidate for being a Subject Matter Expert in a Narrow Skill set. We didn’t help them to expand their skills and experience. Now in the do more with less, were realizing we need people that are more dynamic in their skills. So we looked to the small shops, but our senior management has these openings still priced at less than competitive salaries. “

The recent wave of FREEZING JOB Openings at (Goldman Sachs, JPM Chase, Bank Of America, and Citigroup) has as much to do with this ‘period of position Compensation Evaluation’ as the low trade flow these firms are experiencing.

My advice to my candidates (and my clients) is to set up interviews as quickly as possible, and put your best offer out there. Don’t haggle over a slight difference in compensation either way…… I have had offers frozen in the time the two sides came togather on a compromise.

On other news, Layoffs are around the corner! :(

Bank of America & JPMorgan Chase, will be implementing their first wave of layoffs for Q4 2011. This is the being of the 30,000 estimated layoffs… (Word I’m hearing as of this weekend, is that this number could be higher).
The number I am hearing for JPM will be less than 500 for the rest of the year.

Goldman Sachs will be implementing yet another ‘quiet layoff’ before Thanksgiving, their 3rd ‘quiet’ layoff of the year. Sidenote here……. Didn’t Goldman Sachs have Pualson in Office…. I mean we were calling it Government Sachs for Pete’s Sake…. Yet Layoff after Layoff every other week and if you want to keep your Job, your probably moving to Salt Lake City Utah…………….. How far the mighty have fallen.

Citigroup is also planning layoffs in the next 3 weeks….. Still waiting to see what business areas will be effected…..

As Always - I m just a phone call away if you want to chat!

Thank you for your Time and Efforts,
 
Tracey Greene
TechExec Inc.
Senior Vice President, Financial Risk & Compliance & Technology Division
O:  (914)-235-5901
F:  (914)-355 -2160
E:         Tracey.Greene@TechExeconline.com
Blog:     http://tracey-greene.tumblr.com/
Twitter: http://twitter.com/WallStRecruiter/

More layoffs looming on Wall Street

Goldman Sachs  is once again  taking stock of their employment rosters.

 Wall Street should brace for an autumn of upward revisions among the big banks in the number of layoffs to come. Goldman Sachs has had 3 rounds of KNOWN layoffs this summer, and 2 rounds that haven’t made the News Rosters per my contacts in senior management. “Tracey, we’re just not making the numbers that were expected. We have to find new areas in our employment structure to do more with less, unfortunately that means we have to look at High-Caliber Employees in the coming rounds.”

One of the latest iterations of the Wall Street layoff is the so-called “tap, tap” layoff.

Goldman Sachs  has been implementing a series of quiet layoffs in which employees were told in August that they could retain their salary and title but would not have a job as of Oct. 1, according to multiple sources my firm has interviewed from the firm.

While crediting the banks perhaps with a bit of altruism as it’s easier to find a job with a job, the primary drivers of these “tap tap” layoffs is twofold:

1. The financial institution can decrease the number of reported layoffs if these employees find other jobs.
2. Secondly, the banks will lower their expenses for the fourth quarter.

When you take into account this initiative and others that include the expansion of GS India, the migration and re-evaluation {interviewing again for your existing position } of the firm’s operational and first level Development and Engineernig to Salt Lake City Utah………Yes that is right, I said SALT LAKE CITY UTAH…..?????

You have to wonder why you (the reader) are staying put and not at the VERY LEAST L-I-S-T-E-N-I-N-G  to what the market is offering?????

You are the only person that is looking out for your career. We can have a conversation now {in which you are being proactive - In A Good Job Market OR  We can have it later when you NEED A JOB - in a month or two when the market isn’t as opportunitistic…. But don’t say I didn’t give you the heads up!!!!!}

Thank you for your Time and Efforts,

Tracey Greene

TechExec Inc.

Senior Vice President, Financial Risk & Compliance & Technology Division

O:  (914)-235-5901

F:  (914)-355 -2160

E:                     Tracey.Greene@TechExeconline.com

Blog:                http://tracey-greene.tumblr.com/

Twitter:            http://twitter.com/WallStRecruiter/

WEBSITE:        

(www.TechExeconline.com)

With news that is only greeted with smiles by Stockholders….. Bank of America has announced more layoffs in addition to the senior management clearing they implemented over the summer…

To those in the Know, BofA is a No-Go if you are career minded… Read today’s press release below.

“Bank of America does not address a number of job cuts, but implements of the decisions New BAC. Since decisions are implemented, employment levels in areas under review during Phase I should be reduced by about 30,000 jobs in coming years. The company expects that the elimination of waste, and to fulfill the necessary functions are an important part of the expected decline in jobs.

Full implementation of the ideas approved in Phase I should lead to a reduction in net expenditure of $ 5 billion per year in 2014, based on a $ 27 billion in annual spending for certain areas of the company concerned. The full implementation of ideas approved in the first phase should lead to a reduction in net expenditure of $ 5 billion a year in 2014, based on a $ 27 billion per year to fund certain areas of society.

Bank of America is one of the world’s largest financial institutions, serving individual consumers, small and medium market businesses and large corporations with a full range of banking, investing, asset management and other financial products and risk management and services.”

Tracey Greene
TechExec Inc.
E:Tracey.Greene@techexeconline.com
O: (914)-235-5901