jsosk88 Posted January 13, 2009 Share Posted January 13, 2009 hey guys. just had a few questions for anyone within the finance industry. i'm a junior finance major at college. i was wondering how difficult it was to get a job recently. i am worrying that once i graduate, i will not be able to get a job because of the current economic crisis. so for those recent college grads or those within the finance industry, how hard is it right now? should i delay graduating for hopes of an improved economy in the future or should i change major? Link to comment
bmwm3 Posted January 13, 2009 Share Posted January 13, 2009 I work in the finance industry... its the worst since 70/80s.. banks and firms have laid off about 200k people.. in the last 12months... dont look for it to improve as much as it was in the last 8yrs... what do you wanna do in the finance industry??? Link to comment
jsosk88 Posted January 13, 2009 Author Share Posted January 13, 2009 not really sure at this point but i'm leaning towards corporate finance. i'm not really into the whole wall st. so i'm planning on staying at corporate. *sigh* i was hoping that it would improve in a couple years or so but it doesn't seem to be the case Link to comment
richmonder80 Posted January 13, 2009 Share Posted January 13, 2009 dont worry about the market now and do not extend graduation target date. Worst thing to do is delay graduating because the employment market sucks. Graduate first then determine whether to go back for a graduate degree or not. Market will bounce back. This is not worst then the 70s/80s. Vastly different circumstances. Finance is a good major, but if you could, I'd change it to accounting. Link to comment
amtjrtcet Posted January 13, 2009 Share Posted January 13, 2009 I'm a financial advisor, been doin it for the last 6 yrs....The economy has definitely hurt my paycheck. I actually went back to school to become a nurse. Link to comment
bmwm3 Posted January 13, 2009 Share Posted January 13, 2009 dont worry about the market now and do not extend graduation target date. Worst thing to do is delay graduating because the employment market sucks. Graduate first then determine whether to go back for a graduate degree or not. Market will bounce back. This is not worst then the 70s/80s. Vastly different circumstances. Finance is a good major, but if you could, I'd change it to accounting. actually is... its the most layoffs since the reccesion of 73/74... i know how its different... i study and work it everyday.... what i said was worst layoffs and lack of hiring since the 70s... Link to comment
bmwm3 Posted January 13, 2009 Share Posted January 13, 2009 I'm a financial advisor, been doin it for the last 6 yrs....The economy has definitely hurt my paycheck. I actually went back to school to become a nurse. nurse is a great carrer.. people will always be getting older.. plus it pays great... i have a friend who works as a nurse she makes $46hr... and does 10-20 over time a week.. at time and half... finance industry sucks know... but i am a lifer.. lol.. been doing it since freshmen yr in college.... Link to comment
poloplayer Posted January 14, 2009 Share Posted January 14, 2009 I work in finance, and yes, times are very tough right now. I can't tell you how many have already been laid off, and if you're still on board, well the company is pinching every single penny. Most of my clients are under immense stress as this is their livelihood and they're just going in everyday wondering if today is the day that they get asked to leave. It's tough, but, some places are hiring, but they're being very picky. That being said, I'm almost done with my pre-med requirements and will probably go back to school full time for healthcare shortly. Finance is my back-up career, as for me now, it's mainly because I don't have an interest in it long term. Love the theory behind it, know it cold, but the work is so pashionless. Loved it right out of college, but I'm looking for a little more meaning in my life. Worst thing you can do is try to strategize graduation dates with employment prospects. I knew too many fools who did that in college - went onto graduate or law school simply to ride out the economy. They racked up way more debt and entered an even worse job market and many are unemployed today (granted, many also went to lower ranked schools). With school, finish on time (or early) and get a job lined up before you graduate. It's always been about networking, so make sure that you're doing that nonstop. If you want to have a leg up on your competition, then learn what they don't teach you in finance classes - master Excel & learn how to code (macros, VBA, etc). That's most of my work in finance. The knowledge & theory is required, but the day to day work involves computers nonstop. Many engineering undergrads go into finance and excel because they're workhorses and are usually masters of computers & applications. Link to comment
CaptainPlanet Posted January 14, 2009 Share Posted January 14, 2009 I'd imagine that if you are looking at a career in Accounting or more to the point Auditing that it might not be as bad as it is for the rest of the finance industry. If anything I'd imagine that auditing standards will need to be reworked and there will a few shake ups and new laws brought in that will create opportunities. IF they're looking for transparency in the markets auditing seems like the profession that would bring that about... Double check that with people who know what they are talking about. I mentioned it because no one else has as of yet. Link to comment
CaptainPlanet Posted January 14, 2009 Share Posted January 14, 2009 nurse is a great carrer.. people will always be getting older.. plus it pays great... i have a friend who works as a nurse she makes $46hr... and does 10-20 over time a week.. at time and half... finance industry sucks know... but i am a lifer.. lol.. been doing it since freshmen yr in college.... My understand is that nurses in Australia are poorly paid. Do nurses in the USA take on more responsibility than Australian nurses ? My old work mate graduated from her nursing degree and was paid only $38,000 per year. But I agree that the medical fields are a good field to go into if you want to make a good income and be stable. What is the public sector like in the USA ? In Australia it is very good. Link to comment
CaptainPlanet Posted January 14, 2009 Share Posted January 14, 2009 Many engineering undergrads go into finance and excel because they're workhorses and are usually masters of computers & applications. I think that most undergraduate degree's should follow the engineering course line. The reason that engineering graduates are so good is because they have a terrific undergraduate program. If they increased the standard of finance degree's to make them 4 years long (they're 3 years in aus) and to include the same level of applied math and applied it to finance principles and made you write a thesis there would be just as many job prospects. That is what I cannot understand is why we produce science, finance and other graduates that lack basic critical thinking and problem solving skills that are easily taught in an engineering degree. That is the reason I wanted to study engineering for so long is because it offers easily one of, if not the best quality education. When I studied in my science course I was so disappointed at the low quality course we were given compared to engineering students. An engineering degree really is something you could take with you for the rest of your life. A shame it is not promoted more to students. Particularly, I hate to say this, male students. Because a lot get lost in life and something like engineering would give them enormous focus. I never even realized what engineering was until year 12 when a teacher (who was a mathematician back in his day, lucky us) told us that the force diagrams we were calculating (was a long time ago can't remember fully) were the basics of engineering. A shame that more people don't get exposed to engineering. I caught only a glimpse of it and have never been able to get it off my mind. Shame I am likely not smart enough to finish the degree which is something I have to admit. The mathematical side of my brain likely just isn't strong enough. This is funny sort of advice because I'd almost think that it would be a smart thing to find a very cheap engineering school and get your degree. Why ? Because if there are no jobs in finance there will probably be jobs in engineering coming up within a few years. Infrastructure in the USA is crumbling and Keynesian economics is on the rise. Which means government money put into construction. Also as Poloplayer said a finance and engineering degree might be a good combination. But as he also said you should not second guess the economy. Which is true, but you should be mindful of trends timing them is that hard part that you should not do. Again, only if you have the ability and inclination is this any sort of advice. I just thought I'd ramble a bit about that point. Just consider it. Link to comment
COtuner Posted January 14, 2009 Share Posted January 14, 2009 hey guys. just had a few questions for anyone within the finance industry. i'm a junior finance major at college. i was wondering how difficult it was to get a job recently. i am worrying that once i graduate, i will not be able to get a job because of the current economic crisis. so for those recent college grads or those within the finance industry, how hard is it right now? should i delay graduating for hopes of an improved economy in the future or should i change major? Do you have good training in Sarbanes-Oxley? There are still jobs in some places dealing with those requirements. Link to comment
COtuner Posted January 14, 2009 Share Posted January 14, 2009 My understand is that nurses in Australia are poorly paid. Do nurses in the USA take on more responsibility than Australian nurses ? My old work mate graduated from her nursing degree and was paid only $38,000 per year. But I agree that the medical fields are a good field to go into if you want to make a good income and be stable. What is the public sector like in the USA ? In Australia it is very good. We have a terrible nursing shortage so pay is skyrocketing. There are RNs, BSNs, Nurse Managers, NPs. Depends on the healthcare system you work in here - private hospitals are better than public from what I understand. Public are cutting back to try and save money so the nurses and sometimes doctors are often at work until 11 or 12 at night (after a normal day shift) writing up notes and updating medical records. They work very hard these days Link to comment
CaptainPlanet Posted January 14, 2009 Share Posted January 14, 2009 We have a terrible nursing shortage so pay is skyrocketing. There are RNs, BSNs, Nurse Managers, NPs. Depends on the healthcare system you work in here - private hospitals are better than public from what I understand. Public are cutting back to try and save money so the nurses and sometimes doctors are often at work until 11 or 12 at night (after a normal day shift) writing up notes and updating medical records. They work very hard these days Well over here I find it to be almost criminal that a doctor can earn between 200-300k per year but a nurse will make only 45k. A doctor should make more but that sort of pay difference is disgraceful. They pay you more to sell a car then to save your life. Just wondering if it is similar in the USA by the sounds of things you get paid more but are over worked. Careful to consider that nursing can be a pretty hard job and from what I have heard other medical professionals do not show them a lot of respect. See them as lazy and careless. Link to comment
amtjrtcet Posted January 14, 2009 Share Posted January 14, 2009 My understand is that nurses in Australia are poorly paid. Do nurses in the USA take on more responsibility than Australian nurses ? My old work mate graduated from her nursing degree and was paid only $38,000 per year. But I agree that the medical fields are a good field to go into if you want to make a good income and be stable. What is the public sector like in the USA ? In Australia it is very good. Nurses here in the South East part of the USA make about $50-$60K a yr. I don't know if the responsibilities are different though. For me it won't be a big change in pay, I may even make a little less then back when the economy was good. But I will get great health benefits and I'll actually enjoy what I'm doing, where as now I sit in my office all day and hate it. Link to comment
COtuner Posted January 16, 2009 Share Posted January 16, 2009 Nurses here in the South East part of the USA make about $50-$60K a yr. I don't know if the responsibilities are different though. For me it won't be a big change in pay, I may even make a little less then back when the economy was good. But I will get great health benefits and I'll actually enjoy what I'm doing, where as now I sit in my office all day and hate it. The good news is that there are usually a lot of scholarships and grants out there for nursing. And if you get a BSN and aim for management you'll be at six figures. My mom was an RN for most of her career and regretted not pursuing her BSN (my dad didn't like it) Link to comment
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