Just wondering how hard is it to land another job in the finance/banking industry right now? Any shared experiences will be appreciated.
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As long as you’re able to obfuscate the Wells blemish on your CV no worries. Else you’re f—ed. It’s common knowledge that this lot has no value, why do you think the stock price goes up as more of you f—s get canned?
I got 30% more and it only means I was 30% under paid at Wells. Nothing to write home about.
lots of jobs in tech
Depends on what type of job. I see a lot of jobs in finance lately. I resigned last week for another job in banking making 25% more. But I think geography and type of job is key.
@1zfc please do. I don’t hate you nor envy you. You have it so might as well flaunt it
I'll show you my offers. Don't hate, can't help you if you can't help yourself and build skills. Hard to build skills if your a WF lifer. Good luck to you all.
@1yfr+19pLc1mj cause they're trolling liars.
Why are people hitting the arrow down for those who are securing new jobs elsewhere? Jealous?
I got another banking job paying nearly $300k about $30k more than my highest year at Wells.
I had 6 offers over the last several months with a total compensation greater than $500k. I can't wait to resign in a few weeks.
State Street Bank is laying off 1200+ employees in 2021 - jobs are being replaced by automation.
I have been talking to friends who work at Fidelity Investments. Fidelity is laying off a lot of 40 and 50 year olds and replacing them with pretty young things in their 20s and 30s. So sure, Fidelity is hiring, but they are not hiring experienced older people - just cheap you ones.
Agree it’s important to have an up-to-date skill set — scrum certifications etc. definitely help. And demonstrating your understanding by using up-to-date vernacular is important. But jargon alone won’t get you the job. It may get you past the 1st round screener. That’s it. The hiring manager and potential peers will pick up if your understanding is superficial.
So much depends on your level and job function. But generally it’s safe to assume that a good company (AWS for example) will have a ton of qualified applicants — more applicants than jobs for sure. So good to look for other ways to get your resume to the top of the pile.
It really depends on your skillset. If you’re stuck in the past and haven’t learned anything new recently, it’s really hard. However, if you’re up to date on latest jargon you should be ok. This is pertinent to any field like tech, marketing, finance. Evolve or be long term unemployed
I just went through this. Finally got another job in banking, and it was a slog. A lot depends on your seniority level and type of job you’re seeking. As always more senior jobs are less plentiful. And even if other industries are hiring more (not my experience but...) you may have to work harder to convince them your banking experience is a fit. Again, really depends on your background. Lots of jobs in tech (one example) may be industry agnostic.
Best advice: don’t limit yourself too much in where you apply. Start with a target list of 20 companies. Learn about them, and use LinkedIn like crazy to network. Folks are more open to helping than you think, if you are prepared and respectful of their time.
It’s a numbers game, so unfortunately if you just pick one company to apply to you may be looking a very long time.
But don’t ‘t spray and pray. Too hard to get past the ATS with a genetic resume and cover letter, and too much competition from folks who put the effort in to network and customize.
Good luck!
AWS is a good choice, they hired 340k people in 2020, at a million employees now.
They are also hiring like crazy and their compensation and benefits are 4x anything here, so will help moving retirement date up sooner for me. One guy I know worked there and facebook and retire at 33 as a multi millionaire.
I had a large credit union approach me while I was at Wells. Then a month after I left Wells for the CU, a large regional bank contacted me. They didn’t know I had already left. In both instances the key was networking. I had previously worked with key people at both companies. My advice is catch up with all your friends. Let them know you are looking. Update LinkedIn and connect with recruiters on it.
There are plenty of jobs outside the banking and FinTech verticals. I haven’t bitten the bullet but I was thinking of applying to AWS and giving that a whirl. It’s a backup plan for now since I’ve never worked for a high tech company before
Well, neither my best friend at Wells nor I have found a job in the few months we've been looking. Though we haven't really tried that hard, we do have 40 patents in fintech between us so you'd think it wouldn't really take any effort on our parts.
If it weren't for activist central banking we'd already be in the second great depression.