Happy And Succeeding: For Those Who Have Blind Ambition To Achieve Great Things
Our Weekly Roundup
U.S. Workers Will Not Switch Jobs For Less Than Nearly $80k, Fed Survey Finds
What is the minimum wage you would require to make a job switch? According to a new survey by the Federal Reserve Bank of New York, the median minimum salary Americans would need to accept a new job—the average reservation wage—is just under $80,000. Data from the Fed’s July 2023 Survey of Consumer Expectations reveals that the wage floor for people in the United States has skyrocketed by $6,000 to $78,645 since last year.
Wall Street Is Going South And Taking $1 Trillion In Assets With It
Wall Street financial services firms are moving out of the Big Apple and relocating to the Sun Belt—a region of the United States generally considered stretching across the Southeast and Southwest—and taking nearly $1 trillion in assets under management with them, according to Bloomberg. The flight out of New York has been underway since before the pandemic. Wall Street executives previously relocated thousands of jobs to states outside of New York, in an effort to cut costs.
Fear Over The Job And Stock Market Grows, As Fed Reports Americans Have Spent Their Pandemic Savings
Consumers have spent nearly all of their excess savings from the Covid-19 pandemic, and that money is likely to dry up in the third quarter of 2023, according to research from the Federal Reserve Bank of San Francisco. The stimulus checks, enhanced unemployment benefits, student loan payment moratoriums and eviction protections during the pandemic made American consumers feel flush with money, as they were in a position to have excess discretionary income and savings. Many people changed the way they spent their newly gained money.
The Blind Ambition Podcast
The Blind Ambition with Jack Kelly provides a candid look into the top companies in business and tech. Go behind the scenes with industry and workplace leaders and explore work culture, what it takes to land a role at these companies, and how to build, scale and thrive in your career. Hosted by Jack Kelly and Rick Chen and presented by the professional social network Blind.
Goldman Sachs Cancels ‘Summer Fridays,’ Wants Staff In Office Five Days A Week
Goldman Sachs boss David Solomon, who has drawn derision from the rank and file over the company’s back-to-work edict, has pulled the plug on Summer Fridays. The Wall Street investment giant recently told staffers the firm will crack down on those who aren’t at their desks five days a week. “While there is flexibility when needed, we are simply reminding our employees of our existing policy,” human resources chief Jacqueline Arthur said in a statement to The Post.
Pay For New Hires Is Dwindling, Workers Being Pressured To Take Pay Cuts
As the job market cools, salaries for new recruits are dwindling as companies are no longer competing to fill pandemic-induced labor shortages. In a survey conducted in July where ZipRecruiter asked 2,000 employers about their wage offerings, nearly half said they were reducing pay for recent job openings. And according to ZipRecruiter’s most recent new hire survey, 35% of US workers who started a new job within the last quarter took a pay cut, about 5 percentage points more than staffers who took a trimmed-down salary to start a new gig in the first quarter.
SEC Makes Biggest Overhaul Of $20T Private Equity, Hedge Fund Industry In Years
The Securities and Exchange Commission on Wednesday voted to overhaul rules for private equity and hedge funds, but in a victory for the industry did not make it easier for investors to sue fund managers and also did not ban arrangements that make it easier for some investors to cash out than others. The securities regulator’s five-member panel voted 3-2 in favor of a series of changes aimed at increasing transparency, fairness and accountability in the private funds industry, which has more than doubled its assets over the past decade. The industry manages around $20 trillion in assets.
Coachero: Career Advising
As the CEO, founder and executive recruiter at one of the oldest and largest global search firms in his area of expertise, Jack Kelly has diligently worked placing top-tier professionals for the last 20 years. As a proponent of career growth, Jack is thrilled to have the opportunity to personally share career-advancing advice with you in an honest, straightforward, no-nonsense manner. As your career coach, Jack will help you with every aspect of your job search or career growth plan, offering real support and professional guidance.
Book Jack Kelly As Your Next Keynote/Guest Speaker
Contact us if you would like to book Jack Kelly for your next in-person or virtual corporate event, seminar or conference.
Media Inquiry
Jack Kelly is available to discuss a broad range of topics, including, but not limited to: the job market, the state of recruiting, trending news stories and career advice. He has appeared on CNBC, MSNBC, NBC, FOX, CBS, BBC and NPR. Jack has been quoted in the the Wall Street Journal, Washington Post, Economist, INC., New York Post and more.
About Jack Kelly
Jack Kelly is the CEO, founder, and executive recruiter at one of the oldest and largest global search firms in his area of expertise. He has personally placed thousands of professionals with top-tier companies over the last 20-plus years. Jack is passionate about advocating for job seekers. In doing so, he founded a start-up company, WeCruitr, at the beginning of the Covid-19 pandemic. The mission of WeCruitr is to help people in need and make the job search more humane and enjoyable. As a proponent of career growth, Jack shares his insider interviewing tips and career advancement secrets as a Senior Contributor for Forbes. He also covers timely topics related to corporations, high-profile people, Wall Street, politics and other important matters. The pieces offer insight into the news and how it may impact your career. Jack is the author of Happy and Succeeding in Your Job Search and How To Get A Job In Tough Times, as well as the co-host of the Blind Ambition podcast.