For many of us just about to finish college this year it is a very scary situation with the lack of jobs in the United States. I hear it both ways while doing my internships as I hear a few optimistic saying the jobs will be back by this summer when I graduate but I also hear many who are a lot less optimistic saying that the jobs are taking on a more global market which means that the many financial services jobs that used to be just for the United States are now getting spread out to other countries such as India, China, Japan, and even some smaller European markets. I guess that is what the NY Times meant in their article “Reverse Brain Drain” which featured a video of Nick Topjian who is someone who took the opportunity of working in a foreign market and seems to be doing good.
The foreign markets are not for everyone though like the NY Times video says so that also adds to the complexity of the situation. I also saw a great article again in the NY Times about how we are no longer getting as many foreigners coming for schooling here and they are deciding to stay in their home countries. I think this is just showing how technology has expanded where people can work so much that now jobs that were being competed for by 10,000 are now getting 10 million people competing for them. This just increases the need for advanced skills, advanced degrees, and networking. I think the days of searching Monster.com are over as now good jobs will come through connections and not submitting thousands of resumes. So I guess in my first blog (or rant) I think the job market is becoming ultra-competitive which just means you have to work and prepare that much harder.
This is my first post so for those who haven’t seen what this blog is all about you can check out the About page but most of the information I will give will be right here on this main page. I am going to try to write at least once a week about the financial services industry but also might go off topic from time to time with some sports. Please leave some comments so I can get a feel for the response and see who all is reading. Look forward to sharing information and having some good discussions.