The Finance Whisperer

New Study on Sitting at your Desk

Do you go crazy sitting at your desk all day? You body may be telling you something important!  We always knew sitting at your desk and staring at a computer screen all day wasn’t great for your physical or mental health, but a recent study determined just how bad it is.  According to researchers at the University of Sydney, people who sit for between eight and 11 hours a day are 15 percent more at risk of death…from all causes!  Researchers compared the health of people who sat for eight to 11 hours a day to those who sat for four to eight hours a day.  Even worse, people aged 45 and over who sit for 11 hours have a 40 percent increase in their chances of death.

So how do we reverse this trend? Apparently not through exercise!  The study determined that exercise cannot improve the situation—the only solution is to sit for fewer hours of the day.  Many offices are beginning to implement standing desks, which are said to help.  Prolonged sitting is simply not good for you.  So if you’re concerned about your health, make some time in the day to get up and walk around!  Take a walk during lunch or submit a proposal to human resources for standing desks.  Or, if you’re searching for a new job, look into companies that have more casual or flexible work environments, where you may not feel so chained to your desk. 

CEOs at Asset Management Firms Earn More

In the past few years, Wall Street banks have had some trouble staying afloat amidst regulations and turbulent financial markets.  However, it seems asset and wealth management firms have been doing just fine.  While CEOs’ bonuses shrunk considerably at the country’s top investment banks, bonuses at some top asset management firms actually rose.  It was recently reported that the total compensation for the chief executives at Federated Investors Inc., Franklin Resources Inc., and T. Rowe Price Group (three of the U.S.' top seven asset management firms) increased by 28% in 2011.  This success can be primarily attributed to the fact that asset management firms are able to avoid a lot of market volatility managing steady mutual funds.  Bonuses also improved for asset and wealth management firms’ general employees.  In 2011, bonuses were expected to increase by 5% for asset management, while they were expected to fall by 20% to 40% for U.S. commercial and investment banks. 

More Jobs in Finance and Accounting

Wall Street seems to be making a comeback!  Last month, the finance sector added 6,000 jobs, compensating for the 5,000 jobs lost in January.  In addition, the unemployment rate in the industry decreased from 6.9% in January to 5.3% in February.  There’s also been tremendous growth in accounting jobs, which increased by 12,500 in January and 7,300 in February.   Virtually all employers require accountants who can assist with taxes, audits, and regulation, so they are in high demand.  Other industries that are doing well include real estate, which gained 5,400 jobs in February and commercial banking, which added 2,800 jobs.  Hopefully we will see even better figures for March!

Best Cities to Get a Job this Spring...and Worst

The job market seems to be looking better and better these days, and a recent survey by ManpowerGroup just reported some more good news!  The survey determined that employers in all 50 U.S. states are planning to increase hiring between now and June.  These expectations were the most positive that the ManpowerGroup had seen since 2008!  The survey was also able to determine which U.S. cities will be the best and the worst for jobs this spring.  Here are the best:

1.    Greenville-Mauldin-Easley, South Carolina
Projected net employment: 24%
Knoxville, Tennessee (tie)
Projected net employment: 24%

2.    Syracuse, New York
Projected net employment: 21%

3.    Oklahoma City, Oklahoma
Projected net employment: 20%
Tulsa, Oklahoma (tie)
Projected net employment: 20%

4.    Portland-South-Portland-Biddeford, Maine
Projected net employment: 19%

5.    Bridgeport-Stamford-Norwalk, Connecticut
Projected net employment: 18%

And here are a few of the worst:

1.    Jacksonville, Florida
Projected net employment: 2%

2.    Scranton-Wilkes-Barra, Pennsylvania
Projected net employment: 3%

3.    Sacramento-Arden-Arcade-Roseville, California
Projected net employment: 3%

Keep them in mind if you’re looking for a new job this spring!

Job Search Tips for Upcoming Graduates

Summer is fast approaching, when college seniors graduate and begin their first jobs—are you taking advantage of all the job search resources available to you?  Here are some that you may be overlooking:

1. Your school’s career center.  Many students are resistant to it, but according to a survey by the National Association of Colleges and Employers, in 2010, 71% of college seniors who received job offers used their career centers at one point.  Many career services offices don’t stop at resume and cover letter advice—they can set up meetings with alumni, offer mock interviews, and introduce you to interested employers. 
2. Informational interviews.  Everyone has been where you are, and the vast majority of the time, people are happy to help you out.  Informational interviews give you the chance to learn about a particular career path without the added pressure of an actual interview.  Both parties feel much more at ease in this setting.  If you hit it off, there’s a chance the professional will think of you if an opportunity becomes available at his or her company. 
3. Your own accomplishments!  Sometimes students can forget about their own successes, especially when they need to access them the most (such as during an interview).  Start keeping a record of your achievements, whether they are awards, projects, or experiences.  Keep track of the positive feedback you receive as well.   

Watson Computer from Jeopardy Hired By Citigroup

Look out Wall Street—your jobs may be in JEOPARDY!  Watson, the computer game show champion created by IBM, has been hired by Citigroup to help analyze customer needs, as well as process financial, economic, and client data for the development of digital banking.  IBM claims that Watson’s ability to comprehend and process natural language, combined with the immense quantity of information it contains will service the finance industry well.  Watson will offer insight primarily into portfolio risk management, as opposed to stock picking.  Its services will be offered in the cloud, working directly with healthcare and finance industries.  IBM anticipates billions in revenue by 2015.  Be sure to keep an eye on technology if you’re in financial services!

New Ways to Communicate in International Business

Interested in becoming a successful international businessman? There may be a new skill that could help you get there! Former international vice president of marketing at IBM, Jean-Paul Nerrière, recently invented Globish. Globish a new language involving simplified English to help professionals from different countries to communicate. The language consists of approximately 1,500 English words that Nerrière believes are all you need to communicate. You can learn the language by purchasing his e-books or an online course. Globish is intended to help businessmen in particular and is described as an “economic phenomenon.” While English may eventually dominate in professional circles, it may be a long time before everyone can speak it with ease. In the meantime, Globish could be quite useful!