It's not hot-off-the-press news, but the Yahoo! dealings have been making the papers on a daily basis. The basic story: first, Microsoft made an unsolicited bid for the internet staple, which Yahoo! mostly rejected. From that point until now, Yahoo! has been examining other options, including using Google advertising. Check out some of the stories from the Wall Street Journal
On a nice side note: if you're interested in business, finance, or just the world, you should read the Wall Street Journal. It has the best business coverage and fair coverage of the mainstream news, except for the right-leaning editorial section. They offer student discounts and I honestly enjoy reading this paper. I'm not on their payroll; this is a personal recommendation. I originally subscribed because the paper was required reading for a class. Now, I extended my amazing discount for the rest of the calendar year. Most important tip: Read the two columns on the left side of the front page. These are the most informative and if you have no time for the entire paper everyday, read these columns.
WSJ (must be subscribed) Yahoo Studies Alternatives to Microsoft
Some antitrust implications: USA Today
Keep up with the story: Google News
My WSJ advice aside, the rest of today's edition is really more of a question. Namely, what would you do if your company was heading towards a likely merger or acquisition? Would it be different if you worked for a giant media/online giant like Yahoo!? Working for a small company seems to have the risk of changing corporate structure inherent in the job, but we all saw Yahoo! an an internet tradition.
I've heard some stories about Yahoo! employees leaving, but I'm not sure if that would be my initial response. I guess it's one of those things that you don't know until it happens to you. Share any of your thoughts in the comments below.
What if it was you?
80,000
A few weeks ago I wrote about the economic stimulus package designed by Congress to slow this recession. Well, according to the New York Times, things are still heading downhill. The paper reported a loss of 80,000 jobs in the month of March alone. It doesn't seem like we can mince words anymore; if this isn't a recession, then what is?
Back on the idea of an economic stimulus, in response to the 80,000 figure, Speaker of the House Nancy Pelosi suggested a second economic stimulus package. I just wonder where the first one went?
People are desperately looking for new jobs and, like many of you, I'm looking for my first one. My search is still moving along at the same constant and slow pace. I had a phone interview with one campaign organization the other day, but other than that, I'm still sending out applications and waiting to hear back. As I've mentioned before, I also have my networking contacts helping out. Every time I submit an application I check with a few people to see who they know, always looking for inside tips and contacts.
For all of us looking for a job, I'm continuing a highlight of the etiquette videos online. Today, with this focus on getting a job, we have a nice focus on the little things that matter; the thank you.
In this time of job loss and an economic downturn, the little things are maybe even more important than normal. If you want the coveted job, well you better make yourself standout in every single way possible. And very important: did you hear the tip on time? Send your thank you notes within 48 hours. That's the details of the details.
I've already admitted I'm not the expert, but if you have questions about anything in the finance world, from specific jobs, certain industries, government intervention, or general career questions, please post them below as a comment. I'll take a look and give me thoughts and pass your question onto a real expert for a more thorough response.
Finance Questions Continued
Today we have some more thoughts on individual questions. Remember, these are just my thoughts and opinions and someone with 5 years in the accounting or other finance-related industry probably has a different answer than I do. And someone with 25 years probably has a third answer. So use the information below, collect many opinions, and compile a decent cross section of thought. Then, hope for the best.
Question: I am getting an M.B.A in finance. I got a job offer at an insurance company where they sell insurance and mutual founds. They job is by commission. Will this job help me towards my financial career? --Miguel, IL
This question actually relates to the previous question about experience in the job market. How do you get the needed experience to land a job when the job is what you need to get the experience? Miguel actually hit on an idea I didn't mention specifically that fits the needed criteria. A commissioned job is a beautiful chance to take a position where most responsibilities are on sales. Therefore, the management can put some trust in you for that task because if you fail, you don't pull down the whole business and they can easily replace you with another new team member.
That worse cast scenario said, I think the opportunity it presents is exactly what you need to break into your career. Because its a commission based position, the company only pays you if you sell! That is, they only pay you if you do good work for the company. Thus, success in a commissioned position is both an indication to the employer that you can handle your job and perhaps more responsibility, and a signal to other employers that may have had doubts if you had walked int the door with a slim resume.
A commission sales position might be that foot in the door that breaks the experience/job cycle. A big company may think "why not give this one a chance" and hire numerous sales people, only to retain the best. Its like a free test for the company, and they always win. I know one friend who graduated with a bachelor's degree and went to work as a commissioned sales intern for a basketball team. It was a competitive program to get into in the first place and after accepting about 20 people for one year, only 2 were offered full-time position.
I say yes: a commissioned position will help your career in general. I can't say whether or not a specific commissioned position with insurance or mutual funds will help if you want to go into investment banking or something specific--it can't hurt, but I'm saying it might not be the best entry when other options are available.
