Metro Jobs Report: Career Advice, Goldman Troubles and More
Let’s dig into the latest job news …
Career Advice: This is the Best Person to Try to be at Work | Mic
With a seemingly endless avalanche of career advice available in every corner of the internet, it’s easy to get lost. Do you follow the traditional clichés of “dressing for the job you want, not what you have” or do you simply be yourself and try not to force a false impression? New research, according to Mic, finds that being yourself may be the best option.
To really set yourself up for success, you should probably lean less on the example of others and more on your own instincts and character. At least that’s the conclusion of a series of recent studies about the importance of authenticity in the workplace. There are caveats, of course — over-confessional or over-indulgent social media posts come to mind.
From traditional wage-level employment, to higher-end MBA careers, being yourself, not setting overly ambitious goals and using perceived weaknesses as strengths might be the best methods to move forward in a new role.
Read more career advice from Mic here …
Why Goldman’s Slip Is Worse Than Bank of America’s | Bloomberg
Even with marginal second-quarter profits and revenue beyond previous estimates, a minimal slip in net-interest margin of $300 million left Bank of America investors a bit concerned. But the slip, according to Bloomberg columnist Gillian Tan, isn’t as concerning as what has transpired over at Goldman Sachs Group Inc.
Tan notes, “Over at Lloyd Blankfein’s Goldman Sachs, investors were disappointed by its fixed-income, currencies and commodities (FICC) trading arm, which posted its lowest revenue in any single quarter since 2008. The tumble—40 percent since the same period last year—was somewhat offset by better-than-expected equities trading and decent advisory fees, but it is a reason for apprehension. It was also the worst quarter for Goldman’s commodities business, ever.”
Tan suggests downsizing may be in the immediate future for Goldman Sachs, which is now running virtually identical fixed income, currencies and commodities trading figures to Morgan Stanley.
Read more about Goldman’s recent troubles here …
Wealthy Investors Are Leaving Hedge Funds for Real Estate | Bloomberg
Recent spikes in valuation and an uncertain geopolitical environment is causing a surprising wave in hedge funds. According to a recent Bloomberg report, a slew of investors are moving portfolios to real estate.
“They [investors] had 33 percent of their portfolios on average in real estate at the end of the second quarter, according to a survey by Tiger 21 released Tuesday. That’s a record since the group of high net-worth investors started measuring aggregate allocations in 2007.”
Hedge funds are at the lowest figure of total allocation since 2008—during the height of the recession. Tiger 21 founder Michael Sonnenfeldt, speaking with Bloomberg, noted that “Our members are most comfortable with assets they can have direct ownership of. They can own a building or a part of a small company. When you have such a low ability to produce returns you go to income-producing assets.”
Read more about the dip in hedge funds here …
The economy is still all about—who else?—Boomers | USA Today
Despite mammoth advertising investments targeting Millennials, Boomers still control the majority of the consumer marketing share—and it’s only increasing.
According to federal data, corroborated by Moody’s, in the first quarter of 2017 “Americans 55 and older accounted for 41.6 percent of consumer spending, up from 41.2 percent late last year and 33.5 percent in early 2007.” That share jumps to 50 percent if you only add 53 and 54-year-old Americans. But that hasn’t changed marketing strategies as of yet.
Speaking with <em>USA Today, NPD Group Chief Industry Analyst Marshal Cohen highlighted the potential mistakes advertisers are making.
“’The fastest-growing segment is the Boomer consumer,’ Cohen says.’And they have a higher level of discretionary spending power.’ Marketers ‘still tend to put all their eggs in one basket.”’
Read more about the Boomer market economy here …
About the Author
Matthew Korman
Matthew Korman is a writer on MetroMBA. Since graduating from Rowan University with a degree in journalism and political science, Matthew has worked as a music industry writer and promoter, a data analyst, and with numerous academic institutions. His works have appeared in publications such as NPR and Sports Illustrated.
