Think Before You Leave Your Job

Before unhappy employees pack up and leave their current employer, they might want to reconsider the reasons why they are tempted to leave.

Dr. Tim Baker, an executive coach, organizational psychologist and author of The End of the Performance Review: A New Approach to Appraising Employee Performance, told StreetID that it is not wise to rush out the door before examining the situation.

“My first tip would be to sit down with their manager and discuss the [problem] areas,” said Dr. Baker. “My experience tells me that 9 times out of 10 it’s often a professional relationship issue with their manager. There’s a lack of communication or a lack of trust or something along those lines.”

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Top Financial Services Jobs

Everyone looks to the big banks and Wall Street stalwarts for work. But there are other great opportunities across the country that most job seekers are likely to miss.

Chief Financial Officer

If you think you have to work at a big bank to become a successful CFO, you are mistaken.

Every financial institution (and most other companies) needs a chief financial officer. Not all of them make the jobs public (some promote from within, for example), but there are CFO jobs out there for those who are willing to seek them out.

Insight Credit Union, for example, is offering $111,250 to $133,500 for its new CFO. The company is based in Orlando, Florida, which could provide a nice change of pace for many individuals.

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This New York-Based Financial Startup Is Beefing Up Its Team

Two years ago, Estimize was the new kid on the block.

The firm raised $1.2 million to build its open platform for financial estimates. Now the startup has raised another $1.2 million to take the company to the next level, which includes a couple of new hires.

“We do need some help on the business side of things,” Leigh Drogen, co-founder and CEO of Estimize, told StreetID. “We just have so many opportunities in working with large banks and working with large hedge funds and doing business development deals with some really large financial media and data platforms that we’re just running out of bandwidth. So we need someone there.”

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Wall Street Paid $26.7 Billion In Bonuses In 2013

Yet another sign that Wall Street is returning to the golden years before 2008, the New York financial sector paid out a tremendous amount of money in bonuses last year.

According to New York Daily News, the securities industry paid $26.7 billion in bonuses in 2013 — the most Wall Street has seen since 2008.

This averages out to roughly $165,000 per employee, which is 15 percent higher than the average bonus paid in 2012.

The news came from State Controller Thomas DiNapoli, who recently released a report about the financial sector and how it has impacted the state of New York.

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90% Of Employers Will Read Your Resume If You Do This

There are a couple of tricks that job seekers can do to ensure that their resume is read by employers.

The first is very simple: at the end of your introductory message (cover letter or whatever it may be), add a ‘P.S.’ at the end.

According to Skip Freeman, author of “Headhunter” Hiring Secrets: The Rules of the Hiring Game Have Changed . . . Forever!, 75 percent of the people who read your letter will read the ‘P.S.’ first. Therefore it is important to take advantage of that and write something important.

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Is Singapore The Next Big Financial Hub?

There have been numerous discussions surrounding the growth of Florida and Latin America, but they aren’t the only financial hubs of the future.

Singapore is another one with a lot of promise — and it could prove to be the next big financial community.

“We moved our Chief Operating Officer in Chicago to Singapore in the fall,” Chris Hehmeyer, CEO of HTG Capital Partners, told StreetID. “That was back in October, ’cause we want to try and grow HTG’s Asian office.

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Nadex Is Looking For a New General Counsel and Chief Regulatory Officer

Now that Tim McDermott has been appointed the CEO-designate at Nadex, the company needs to find a replacement for his current position as General Counsel and Chief Regulatory Officer.

“We are hiring,” McDermott told StreetID. “We are in the market for a new General Counsel and Chief Regulatory Officer. That process is ongoing. Then we are continuing to do just sort of the normal run-of-the-mill hiring that you do as the company grows. We have added recently folks on our customer service desk, for example, and people dealing with our customers who are applying for memberships in the exchange and processing those applications.

“We do continue to hire in terms of these positions. Right now the General Counsel position is the main focus of that effort.”

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How To Advance Your Career Without Living In New York

Is it possible to get ahead without living near Wall Street?

James M. Housler, the newest partner and senior advisor at Telemus Capital, has worked hard to find out. Born and raised in Kalamazoo, Michigan, Housler knew that he was far from the world’s leading financial hubs. But he was determined to get ahead regardless.

“That’s really one of the biggest things — the fork-in-the-road moment that everybody has in their career, and you always gotta weigh that balance between family, career, children, etc.,” Housler told StreetID.

While he had left home temporarily, Housler eventually made his way back to Michigan. He worked for a number of big organizations and served as a VP at both PNC and J.P. Morgan Private Bank. He strived to advance his career and get ahead before his first child started school, hoping that he wouldn’t have to move her around after she started the first grade.

“[I] said for the next five or six years, I’m gonna just work as hard as I can and take every promotional opportunity that further advances my career,” said Housler. “From that aspect it made it really, really easy because I knew I didn’t have an infinite amount of time to do what I needed to do.”

Building Results

Housler has been fortunate enough to get ahead without applying to any institution. He credits his success with his results, which provided him with the opportunity to continue moving forward.

“When I was at PNC, I just really worked my tail off, built my network out, was able to put out solid, consistent numbers for that firm,” he said. “Then it came time to discuss a promotion, and they wanted me to move to Atlanta. That kind of references [the point] point that if you really want to take the next step in your career in the financial sector, it’s either New York, down south, [or] Connecticut [for the] hedge fund space.”

For better or worse, Housler said that job seekers need to be prepared to relocate — at least temporarily — to advance their careers.

“I saw that at the earlier parts of my career,” said Housler. “I was two years with Wachovia, right of college, and if I wanted to take that next step, I had to go to North Carolina. And they don’t really give you a whole lot of time to think about it.”

Housler said that the most important advice he could give is that “your career path is solely yours to control.”

“Nobody is gonna have as much of a vested interest as you do in the path you take,” he added. “I’ve been fortunate enough to have a lot of mentors. I still crave mentorship. That was one of the biggest aspects of coming here [to Telemus].”

In the end, Housler said that it was one of those cases where he “wanted to build leverage and equity in myself — at all those respected firms — so that when an opportunity came, I would be able to leverage my accomplishments for the next opportunity.”

Searching For More Talent

Housler is Telemus Capital’s newest hire, but the company isn’t stopping there

“We’re like the army: we’re looking for a few good men or women,” Gary Ran, founder, Chairman and Managing Partner of Telemus Capital, told StreetID. “We’re looking for people like James. We’re looking to add young people with some experience who are hungry for success.”

Get Hired Now

These days, job seekers have a million options, but we know where they should turn: StreetID. We built StreetID (a financial career matchmaking website) from the ground up to accommodate Wall Street’s growing community of financial professionals. In good times and in bad, current job seekers and those looking to move on in the future can turn to StreetID and sign up for a free account and make a direct connection with relevant candidates and employers.

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New York Startup Is Beefing Up Its Brokerage, Development And Product Management Teams

New York-based Kapitall is currently searching for new talent.

The company consists of a brokerage, an all-content sister site with market insights and a video game inspired portal that was designed to break the traditional online investing mold. This unique mix has given Kapitall an interesting niche that is getting some serious attention on Wall Street.

“For all of Kapitall, we had a really nice, successful year in 2013,” Barry Mione, CEO of Kapitall Generation (the firm’s wholly owned brokerage), told StreetID. “In January we [saw] a renewed interest in the marketplace overall and the retail marketplace.”

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How To Prepare For Wall Street’s Next Hiring Spree (And Subsequent Layoffs)

Is Wall Street a never-ending cycle of hiring sprees and massive layoffs?

Not quite. But with the stock market always in a state of flux and investors always looking for the next big thing, the financial sector never stops moving.

“Today’s job market, whether it’s Wall Street or even Main Street, requires a different level of preparation and understanding than what has gone before,” R. William Holland, PhD, a career counselor and former Wall Street exec, told StreetID.

“The best way to do that is to understand what’s important to employers, because then you can do two things if you’re a student. You can more adequately prepare yourself for that, on the one hand. Secondly, you can become more competitive among your peer group. That’s something you never used to have to do. Companies would hire on speculation. ‘Oh this guy seems like a great guy. He’s smart.’ And all of the BS of hiring in the past. Now companies are under the gun, and they are desperate because the competition has stepped up a notch.”

Dr. Holland was the Chief Human Resources Officer at Meridian Bank and held senior HR positions at Chase Manhattan Bank and Charles Schwab, among other firms. He was also the Exec VP of Right Management (a global human resources consulting and career transition company).

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