Jobs Returning to Wall Street: 5 Tips to Get that Promotion, Raise, or New Job

iStock_000012303174XSmallBy Stephanie Wilcox (Connecticut)

Good news, bankers and insurance professionals: financial services companies in New York are hiring again, and you’re among the most desired candidates. The Wall Street Journal recently reported that employment in the industry grew by 6,800 in New York City from the end of February through May, the largest gain in financial services in almost two years. Whether you’re returning to work after being underemployed in other disciplines or industries or returning from a hiatus of child or eldercare, now is the time to differentiate yourself, demonstrate your value, and define your own brand, according to Jan Melnik, executive resume writer, job search coach and career management expert. Here are the top five tips to get that promotion, raise, or new job.

1. Don’t Underestimate the Power of Your Profile
The single most important thing you can do is reflect a broad skills set that includes very specific core competencies relating to the field of financial services. Look for positions matching what you want to do, and find the key words you see over and over. Then, put those words right into the profile/qualifications section on your resume.

“The profile is the most important piece of real-estate on your resume,” said Melnik. It should follow your contact information and take up roughly one-third or more of page one. That’s right: One-third or more – this is your chance to shine. And don’t be confused by the objective section. The profile is different in that it’s customized to what the recruiter, HR department, or hiring manager is seeking. “Getting this section on your resume absolutely precise is the number one thing,” said Melnik. She recommends finding five job ads that you would apply for to see the key words used for that level position.

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New Solutions: Developing Diverse Leadership at ING

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By Melissa J. Anderson (New York City)

“Our CEO challenged his team to increase diversity – to come up with plans to accelerate the development of female talent,” said Brannigan Thompson, Head of HR for ING US Insurance. “We needed to not just say that we are a diverse company, but to act like a diverse company.”

Rhonda Mims, President of the ING Foundation and Senior Vice President, Office of Corporate Responsibility and Multicultural Affairs for ING added, “Finding creative ways to be ahead of the curve with employee engagement and professional development is really relevant to building a successful company. It’s more than writing a check – it’s about collaborating to deliver on a brand promise.”

Coming out of the recession, Thompson said, ING was “reexamining how we looked at leadership and reexamining how we do business. It was the perfect storm.”

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The Benefits of Hiring Women Returning from a Career Break

Businesswoman using smart phoneContributed by Carol Fishman Cohen and Vivian Steir Rabin

In the June issue of INC Magazine, Patagonia founder Yvon Chouinard is interviewed about a range of topics relating to managing and motivating employees. When asked at the end of the interview:

“If you were starting a company today, what would you do to create the best possible workplace?”

Chouinard gave an incredibly powerful response:

“…..I would search out older women as employees. Ones that have already raised families and are looking for something to do. These people have lived with a budget. They are aggressive. They are honest. You can’t find better employees. They are one of the most underused resources in America.”

Chouinard is widely admired as a true visionary among CEOs. His progressive policies toward flextime expressed by his book title Let My People Go Surfing pretty much sums up his philosophy:

“All I care about is that the job gets done and the work is excellent. If you come in at 7 at night because you want to go surfing at 2 in the afternoon, that is fine with me. But it can’t impact your fellow worker.” His workforce is 75% women, he established one of the early on-site childcare centers and he is famously dedicated to environmental causes both in action and through his policy of donating 1% of sales to them.

Here at iRelaunch we couldn’t agree more with Chouinard’s assessment of the pool of talent on career break, which is predominantly female. Women in this pool often have strong educational credentials, significant work experience, a high energy level, and unbeatable enthusiasm about returning to work precisely because they’ve been away from it for a while. They just can’t wait to get back. Plus, think about their life stage – fewer or no maternity leaves (they’ve done that already if that’s why they took a career break), fewer spousal relocations, and a more mature perspective.

As we like to say, “relaunchers” as we call them, are not trying to “find themselves” at an employer’s expense. They are more grounded than the new graduate and are actually better candidates for positions requiring an advisory, consultative approach.
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Three Things Professional Women Should Know About Nannies

iStock_000012432210XSmallBy Tina Vasquez (Los Angeles)

Once upon a time nannies were only for the über-rich, but, for some, times have changed. For many working parents forced to put in long hours at the office, nannies have become an essential and irreplaceable part of the family; someone entrusted with the well being of their child.

If you have a nanny – or you’re thinking of hiring one, there are three things you need to keep in mind – new legal considerations, administrative and style questions, and that the nanny is going to be a vital part of your child’s development. Here are our tips on approaching all three.

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Voice of Experience: Erika Karp, Managing Director and Head of Global Sector Research, UBS Investment Bank

karpBy Melissa J. Anderson (New York City)

“I believe diversity is an economic imperative – period,” said Erika Karp, Managing Director and Head of Global Sector Research at UBS Investment Bank and Chair of the Global Investment Review Committee.

A founding member of the UBS Executive Diversity Council, a steering committee member of the firm’s All Bar None women’s network, as well as the business champion behind the creation of UBS Pride, UBS’s GLBT employee network, Karp is dedicated to the value of diversity.

Citing the importance of differentiated perspective, creativity, and entrepreneurship that diverse individuals bring to the table, Karp said, “The challenge for anybody is getting to have an important voice…being heard.”

She explained, “The trick is being both patient and assertive.”

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In Case You Missed It: Business News Round-Up

Beth 005Contributed by Beth Collinge of CTG – a division of ILX Group plc.

In the UK last week, the Bank of England, lowered its growth forecast, saying recovery will be “choppy” and warning that inflation will remain above target. And In the US the Federal Reserve downgraded its outlook for US economy, signaling its intention to continue quantitative easing to maintain liquidity and to keep interest rates low for a “significant period”, and confirming that US trade gap is continuing to widen. In Europe, politicians emphasized the strong German performance while economists worried about a “two-tier” Europe, and sovereign debt default of weaker economies.

Economic Backdrop

  • Markets are looking ahead to fiscal tightening in Western economies in 2011, and the global economic picture is still very unsettled. The Bank of England has cut its output forecast for the next two years; the Federal Reserve has revealed that it will reinvest more than $150bn from the proceeds of maturing mortgage-backed securities to maintain the level of liquidity from earlier quantitative easing operations; and in Europe, despite the strong growth of the German and French economies, economists fear that this will not be sufficient to counter balance the poor performance in Italy, Spain, Portugal and, most worryingly, Greece.
  • The B of E has revised its outlook for GDP growth for the rest of this year to be down slightly, but has lowered its forecast for 2011 to fall to 2.7% from 3.4%, and now predicts slower growth in 2012 too. The Bank cited as causes the new government’s fiscal austerity programme and a slow recovery in credit and lending markets at home. The Bank also believes inflation will not fall below its 2% target until the end of 2011, largely because of the planned increase in VAT. However, its predictions are still more optimistic than the consensus of private sector economists. The FTSE lost 1% over the week.
  • Following a number of dismal economic reports in the US, the Fed announced that the pace of recovery had slowed in recent months. The monthly trade gap grew by 18.8% between May and June: imports from China are the highest they have been since October 2008. The markets were not reassured when the Fed indicated that it would maintain its current balance sheet of $2,300bn by buying Treasuries and investors turned instead to safe-haven investments. The DJIA lost 2% over the week, and the 10-year Treasury yield hit a 16-month low of 2.68% at one point before finishing the week at 2.69% with a loss of 14 bp. Gold also rose to a one-month high of $1,218 before finishing the week slightly lower.
  • Although the German economy grew by 2.2% in Q2 (3.7% in 12 months), this was mostly the result of an increase in exports, mainly due to the weakness of the euro at the beginning of the quarter. The fact that Spain and Portugal grew by only 0.2%, while Greece contracted by 1.5%, reignited fears of sovereign debt default in these countries and revived worries over the survival of the monetary union. Consequently, the euro sank 3.9% to a three-week low against the dollar.

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Suburbs or City – What’s Best for Work/Life Fit?

iStock_000007678487XSmallBy Kate McClaskey (New York City)

The debate over city life versus suburb life has been raging for years and will more than likely rage on for years to come. In the last U.S. census, almost two-thirds (64%) of college-educated 25- to 34-year-olds said they looked for a job after they chose the city where they wanted to live.

But it’s not just recent college grads who thinking hard about where to live. As more women enter the career force as professionals, the issue of work/life fit is becoming more important -and where you live can play a big role. There are pros and cons to both but the key is to find which works best for you.

The City

Pros

Shorter Commute: Shorter distances to work, restaurants, and stores all decrease the time spent in a car commuting to jobs or getting groceries. And when you’re lucky enough to live in a neighborhood where everything is walking distance anyway, then the need for a car is even smaller.

Actually, new research in Preventive Medicine shows that people living in more urban communities reap health benefits because they tend to walk more. And why not walk when there are so many things to do nearby like museums, parks, theaters and much more.

Close to Kids During the Day: If you live in the city, your children will most likely go to school in the city as well. From sick days to school assemblies, a shorter distance between work and school makes it a lot easier to round up a busy family.

Entertainment: One thing is for certain, city life is never slow. There are always new things to do, new shows to see, new restaurants to try, new stores to visit. Kids have children’s museums to public parks, while adults have nearby bars and cafes.

Public Transportation: Forget driving, there’s a multitude of ways to get around in big cities. From subways to trains to buses to simply walking, public transportation defines the city. This eliminates the need for car sometimes, which includes car insurance. So even though having to pay for train passes or metro cards may seem like a burden, its still less expensive than bills to the insurance company and the upkeep a car requires.

Cons

Expense: From food to apartments, things are usually are more expensive in the city than they are in the suburbs. What could normally cost five dollars outside a city can cost twice as much in it. Finding the right budget to live in the city can prove difficult.

Schools: Should parents wish to put their child in a private school in the city, their cost of living will rise dramatically.

Smaller Space: Apartments come in all shapes and sizes but they can never offer the amount of space a house can. And with adjoining walls and a plethora of neighbors, there will always be people around. This can prove problematic for growing families who may not have the convenience of extra closet space and larger rooms.

The Suburbs

Pros

Space: There will always be more space outside the city. With less buildings and less traffic, this also means there is more space for backyards. Instead of apartments and crowded sidewalks, the suburbs can offer lawns and houses. For many with children, the opportunity to have a backyard that they can call their own far outweighs the public parks that are offered in the city.

Quietness: With this increase of space also comes another benefit, which is less noise. Without car horns, sirens, people and a myriad of other noises, the suburbs can offer one thing cities never can: silence.

Transportation: And although things may be farther away, getting there and back may actually be quicker. Instead of wading through crowds and subways, one can simply get in their car and drive the distance without the wait. It may be a little farther, but it could be much simpler.

Cons

Commute: Studies from the American Journal of Public Health and the American Journal of Health Promotion have linked suburban sprawl to rising obesity rates. Instead of walking to work or the store, people are getting in their cars and driving there, cutting down on the amount of exercise they are receiving. Additionally, a hard commute can have a negative effect on your mood, increasing negative health effects.

Expense: A recent article by the New York Times found that certain variables can cause living in the suburbs to actually be more expensive than living in the city. With owning and insuring a car, property taxes, as well as utilities and train passes, living in the suburbs can actually outdo the expenses of living in the city in the long run. Owning and maintaining a home takes a lot more money than owning or renting an apartment in the city does.

The list of pro and cons for city life or suburb life can go on and on. But we all have different priorities. Hopefully the list above can help you decide which is best for you.

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What Does The Dodd-Frank Act Mean for IROs?

iStock_000007832239XSmallBy Natalie Sabia (New York City)

What does the Dodd-Frank Bill mean to you? That’s the million dollar question that is being asked in every conversation centered on the economy. The 2,300 page bill that was recently passed, introduces the largest wave of changes in financial regulation since the turn taken after the Great Depression in 1930. It will enforce new rules among banks and financial institutions. No matter what side if the bill you’re on, it will continue to spark all angles of opinions and controversy.

The New York chapter of the National Investor Relations Institute (NIRI-NY) in cooperation with the Robert Zicklin Center for Corporate Integrity at Baruch College held a special session to discuss the Dodd-Frank bill and its provisions including issues on corporate governance, proxy access and executive compensation. The audience included investor relations personal, teachers, lawyers and representatives from financial firms.

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35 under 35, Molly McGregor, Director of Corporate Affairs, International Securities Exchange

IMG_0745By Jessica Titlebaum (Chicago)

It is Wednesday morning when I sit down to interview Molly McGregor, the Director of Corporate Affairs at the International Securities Exchange. McGregor is getting ready to attend a conference in Rhode Island as the representative of ISE’s Political Action Committee (ISE PAC) the upcoming weekend.

“That’s one thing that has changed,” said McGregor, “I used to throw a few items in my suitcase, and I was out the door. Now, I have to consider the baby’s needs as well – diapers, food, and formula. No more dashing off to the airport with a small carry-on bag. When possible, I try to bring my family with me to conferences, especially if they run through the weekend.”

As a new mother, Molly McGregor is just beginning to experience the trade-offs that come with a nine month old son and a full time job.

“The challenges change on a weekly basis as he grows and his needs evolve,” she said. Finding the right balance between commitment and flexibility is an issue McGregor struggles with. As someone who used to be able to devote whatever time was needed to the task at hand, she is realizing there are now things in her work life and home life that are non-negotiable, and everything else needs to be kept flexible.

“For example, my son’s day care had a picnic and instead of bringing homemade cupcakes, which I would have normally done and certainly wanted to do, I had to buy cookies at the store,” she said. “If I have to let go of something I will, but I was not going to miss that picnic.”

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Ask-a-Career-Coach: How to Get Focused on Your Future

AnnDalyHighRes-2Contributed by executive coach Ann Daly

There’s no way around it. Career advancement requires strategy: intentional, ongoing, long-term thinking and action. But today’s “on-demand” workplace conspires against full presence and total attention. It’s a challenge these days for anyone to look away from the current client crisis to focus on her own future.

But look away we must.

If you’re serious about giving your career the sustained attention it requires, here are three strategies for developing the habit of deep focus:

First, give up the myth of multitasking. It’s not a productivity tool. It’s an excuse for perpetual distraction. Our brain does not conduct its activities simultaneously. It works sequentially. When we think we’re multitasking, we’re actually zigzagging and backtracking between different tasks. This constant “switching,” it turns out, is terribly inefficient and even detrimental to higher-level activities such as strategic thinking. Your career strategy isn’t going to appear in the cracks between phone calls and text messages.

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