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| Ten ways to find work if you've been jobless for six months |
| Banks began making large-scale layoffs at the start of the global financial crisis, with the latest round of retrenchments kicking off several months ago. Meanwhile, the pool of unemployed bankers keeps expanding, with fresh redundancy victims from the likes of Morgan Stanley, Citigroup and Barclays. If you're one of the long-term unemployed, or are heading in that direction, here's how to approach your job search. |
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| Ten ways to tell someone they've got a bad bonus |
| If you're in charge of dishing out bonuses to your team, you may have a bunch of unhappy subordinates on your hands. Your bank is probably cutting bonus pools – especially if you're at the likes of Barclays or Morgan Stanley – leaving you to break the bad news to your team. Some may quit right away if they receive a low payment (or no payment), while others may bury their anger and walk out on you later when the market picks up. |
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| Barclays confirms that senior staff targeted for redundancies |
| Barclays' results are out, as are the details of its 'Transform' restructuring plan. Barclays is cutting 1,800 jobs from its investment bank, or around 7% of the total. Overall, 55% of the jobs will go in the front office, with the remainder going in the back office. |
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| From M&A head to pub landlord: life of an i-banking dropout |
| Rudolf Wötzel was a roaring success in investment banking. Until 2007, he was head of M&A for German-speaking countries at Lehman Brothers. He's also held senior roles at UBS and Deutsche Bank. Wötzel made up his mind to quit banking during an Alpine hike from Salzburg to Nice in 2007, shortly before the collapse of the US bank. Today Wötzel, 49, resides in a lodge near Klosters in the Swiss Alps, where he writes, gives seminars and runs a pub. We spoke with the dropout about his life in investment banking and why he left it all behind. |
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| Wall Street Crying in its Beer this Bonus Season |
| You're at a bar on Wall Street during happy hour, enjoying an after-work drink. A group of around two dozen well-dressed professionals in their early 30s saunter in and order a round of beers. Cheap beers – Bud Lights mostly. The mood is rather somber for a group this large. Under no circumstances would you believe that each of these people was just handed a six-figure bonus check. |
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