How Risk Aversion Affects Those in the Financial Industry

How Risk Aversion Affects Those in the Financial IndustryHow Risk Aversion Affects Those in the Financial IndustryRisk aversion is the manifestation of an individuals general preference for certainty over uncertainty. Such a partie will almost always attempt tominimize the magnitude of the worst possible outcomes to which he or she might be exposed. Risk aversion is highly influenced by an individuals experiences, particularly the economic environment they experienced during their childhood. People who grow up in different economic climates tend to manage money very differently. How Risk-Averse People Behave in the Work Force A risk-averse person might prefer to work as a low-paid employee with a great deal of job security rather than strike out on her own and become a self-employed entrepreneur- even if an entrepreneurship would likely result in earning a large sum of money. With the opportunity for more income comes the risk of losing her investment in time or money. Technicall y, it could go either way. Risk-averse people tend to bet on sure things. Theyre not gamblers, even if rolling the dice just a little might result in greater rewards. Many risk-averse people make choices by putting excessive weight on the worst possible scenario in a situation, far beyond the actual probability that such a scenario will actually occur. Likewise, a risk-averse person would prefer a low but sure rate of return when investing her money, such as that provided by a bank savings account or a certificate of deposit rather than attempt a much higher fhigkeit rate of return on equities. After all, equities are highly variable and can potentially provide a negative result. Risk Aversion in the Financial Industry Financial advisors, financial planners or insurance sales agents are all examples of financial professionals who must understand their clients as well as possible in order to best serve them. Just understanding the time and place in which a client welches born can offer useful- although hardly infallible- insights. These insights can aid in client retention because a risk-averse individual will most likely go elsewhere if they feels pushed or pressured to take an action that they do not feel comfortable with. The goal is to help them within their own personal constraints. Examples Consider a child who never knew for certain when they would eat again compared to one who was lavished with the most recent and expensive fads in toys. As an adult, the first child would most likely want to be very sure where their next meal was coming from as an adult. Hed want to know that the money for that meal was safely in the bank, and they would not risk it on a situation of uncertain outcome even if the odds of success were in their favor. Another classic example is people who grew up during the Great Depression of the 1930s. As a group, these people tend to be very conservative about money and very risk-averse about a job or career changes. Many of t hem avoid stocks, given memories of the Great Crash of 1929. But many spendthrifts grew up during the Great Depression, too. Many siblings develop radically different attitudes about money even when theyre raised in identical circumstances. A more recent and famous example would be that of hedge funds, who place bets against their main holdings in a process called contrarian investing. Most funds operate on an 80-to-20 ratio, where 80 percent is their core holding, and 20 percent is used to hedge their bets.

Fatigues to Pinstripes Interview and Resume Tips to Land Ex Military Jobs

Fatigues to Pinstripes Interview and Resume Tips to Land Ex Military JobsFatigues to Pinstripes Interview and Resume Tips to Land Ex Military JobsHow to land a civilian or contractor job as ex militarySizing up the leap from a military career to the private sector? Take some tips on how to land ex military jobs from Mark Henderson, a retired Army colonel and one of the founders of Palladian International, an executive-search firm based in Waynesboro, Va.Bottom line Dont narrow your search too quickly, and dont try too hard to translate your experience into civilian terms.Know what you want and make sure you know whats out there.A lot of people leaving the service, particularly retirees, focus on the defense industry for employment, Henderson said. Thats valid, but they overlook the fact that theres a commercial world out there where the sky is the limit. They sometimes overlook what they could go after if they looked at the commercial world and thought about what they bring to the p late.Translate into terms businesses will understand But dont overdo it. When it comes to building the resume the biggest thing is translating military experience into commercial words, Henderson said. And that goes beyond the acronyms - you have to convert what you did in each role you had to business terms. However, he said, dont push your luck trying to convert military titles to equivalent corporate ones. (A company commander is not a CEO.)Dont just list responsibilities sell your accomplishments.Just listing off the responsibilities you held wont explain to a potential employer your value to a business, and it wont set you apart from the crowd. To do that, you need to talk about what you achieved, in business terms.In the military, were taught to be humble, Henderson said. But you need to explain things by accomplishments - how you innovated. Everyone in the military has a story like that.An interview goes both ways.Preparing for an interview means doing research on the co mpany youre interviewing with and being prepared to ask questions yourself that show youre prepared. An interview is a lot more detailed than standing up and answering questions, Henderson said.A frequent mistake in interviews is failing to follow through on telling your story about your accomplishments. Many candidates think that if they put it on their resume, thats good enough, Henderson said. Be prepared to talk about your achievements, and tell your story in a way that resonates with the interviewer.

A Free, Modern, Beautiful Way to Write Your Resume Well

A Free, Modern, Beautiful Way to Write Your Resume WellA Free, Modern, Beautiful Way to Write Your Resume WellWe launched the worlds best resume writer this morning. Based on our decade-plus of experience helping Americas top professionals, weve put all of our best thinking into Resume Builder, available here at www.theladders.com/resume-builder.Since Ladders launched in 2003, weve assessed millions of resumes, filmed HR people scanning your resumes, and even hand-written tens of thousands of resumes for members like you.We made Resume Builder in order to capture all of that knowledge in a wonderfully easy and effective productEasy to followwell walk you through a step-by-step process, that buildsyourresume based onyourexperience, not canned templates that make your resume sound generic.Achievement-focusedwe help you quantify your past accomplishments so that future employers can immediately start seeing you as a problem-solver who will contribute to their success.Modern planour clea n formatting attracts employer attention and maximizes readability - both for humans and for computers.Inline assistancetips as you type help you craft effective responses that align with resume best practices.Heres an example built with our new toolIn combination with its companion product, Resume Reviewer, our Ladders suite of resume products represent the free, modern, beautiful way to write your resume well.Visit Resume Builder to get your gorgeous, free resume today.Im rooting for you

What to do when you feel left out of the office tribe

What to do when you feel left out of the arbeitszimmer tribeWhat to do when you feel left out of the office tribeFeeling left out in the office is no fun. Being left off of emails and not told about meetings,can make youfeel paranoid andout of the loopsometimes.An article in the Harvard Business Review called What to Do When a Colleague Excludes You touches on the effects of being ostracized at workand provides advice on how to get through painful periods caused by it.Being left out of office conversations causes us physical painOstracism can take a toll on your well-being.A metastudyon negative attention in the office made a clear distinction between ostracism and harassment, but shed light on a confusing office dynamic while quiet ostracism is more painful, colleagues tend to believe that belittling someone openly is the worst you can do to them.To some, workplace ostracism may intuitively be perceived as a more mundane form of mistreatment than harassment. Indeed, on the surface, harassing behaviors that directly demean, insult, belittle, or humiliate someone seem particularly more belligerent and threatening than behaviors that simply deny a person social connection and attention, the study says.But that doesnt mean you shouldnt take this treatment seriously.The same study found that, contrary to lay perceptions of ostracism as relativelyharmless, our studies found that ostracism, compared with harassment, is more strongly related to negative outcomes for employees.According to a write-up of the study by The University of British Columbia, that means that being neglected in the office is worse for physical and mental well-being than harassment or bullying.So who youre surrounded by can have a huge impact on how you feel.The Harvard Study of Adult Development has been going on for almost 80 years, andhas shown that having a strong community helps longevity. Robert Waldinger, director of the study and a professor of psychiatry at Harvard Medical School, told the Harvard Gazette about the importance of having healthy connections with others.The surprising finding is that our relationships and how happy we are in our relationships has a powerful influence on our healthTaking care of your body is important, but tending to your relationships is a form of self-care too. That, I think, is the revelation, Waldinger told the Harvard Gazette.Office tribesCo-workers workers often find themselves in a social group like a tribe.Dave Logan, Ph.D and Halee Fischer-Wright, M.D, authors of Tribal Leadership Leveraging Natural Groups to Build a Thriving Organization (along with John King) told Gallup about this concept in a 2008 interview.Dr. Logan defined a tribe as a group usually composed of 20 to 150 people, but what marks it is that it forms naturally.But theyre not always a bad thing- Dr. Fischer-Wright said thata lot of positive outcomes are associated with tribes.Office tribes also last, even years after all the participants work elsewhere.Tribe s form all the time. What makes workplace tribes a little different is their staying power. Even if you leave a company, youll probably keep in touch with some of the people you worked with, Dr. Logan told Gallup.So feeling out of place with a large group of those you work with can be harrowing.What to doThere are steps you can take to feel better if youthink youre being purposely leftout in the office.The authors of the Harvard Business Review article make some recommendations for people who think they are in this position, including that they shouldchallenge any assumptions that could make themthink they are to blame, to seek social support, and to document whats happening.Taking action could also help.In an article in The Muse, Lynze Wardle Lenio writes that if you have FOMO, or fear of missing out at work, that you should be honest about the skills you bring to the table and your behavior, to be engaged, (get to know your co-workers), and be persistent by talking with your manag er if you feel like youre being passed over for workplace opportunities, among other tips.Feeling ignored at work isnt easy, but you can overcome it.

How to Discover a New Career Path

How to Discover a New Career PathHow to Discover a New Career PathBecome an explorer to reevaluate your job goals and create a new career map.Tap into your childhood dreams. Nothing beats finding a way to turn your passion into a paycheck. If money didnt matter, what would you do with your life? Brainstorm ten different dream jobs and look for themes among behauptung ideal jobs. For instance, you may realize that your love of the arts or your entrepreneurial spirit keeps surfacing. If youre having trouble with this exercise, think back to when you were a child. What did you want to do when you grew up? Click on the following link for more job-goal exercises.Research career fields online.Luckily, there are a number of online resources available to help you explore various career tracks. While theyre mostly geared towards college students and entry-level professionals, they can also be helpful when youre considering a career change. My two favorite resources are WetFeets industry and c areer guides and The Daily Muses career path exploration section. Use these online tools to learn about the good, the bad and the ugly side to any industry and to understand the various career paths available within each field.Leverage your existing skill sets.In some instances, you may not be able to pursue your dream job as a career. It may be a little too late in life to suddenly become a prima ballerina. Or perhaps you were never blessed with the natural skill required for such a role. In these cases, search for a sttte that leverages your existing skill set and experience within an industry that interests you. For example, if you have a finance background, pursue corporate finance opportunities within the fine arts industry for organizations such as the American Ballet Theater (ABT) or Pointe Magazine.Seek outside counsel.I often advise clients making a career transition to highlight their transferrable skills. However, not everyone knows which skills to highlight. If youre str uggling to understand where your strengths can be applied in a different industry, talk to someone in that field. This is when informational interviews become useful. Leverage your network to find someone in your target industry and take them out for a cup of coffee to pick their brain. After explaining your work background, ask the person where your skills might fit within their field. This will help you understand which roles are most realistic for you to transition into and what skills you may first need to acquire before you can pursue such a role.Test-drive a career.Before you commit to making a career transition, take a career for a test drive. If you know someone who works in the industry, ask if you can shadow someone at their company for a day or longer to get a better understanding of the role and its daily responsibilities. Look for internships or volunteer opportunities related to your target field so you can build networking ties and practice your relevant skill sets. A lternatively, look for part-time work you can do in the evenings or on weekends so you can learn more about your desired field while maintaining your regular paycheck. Not only will these tactics make you a more attractive candidate, but it will help you decide if this path is right for you.

Facts, Fiction and Resume Writing Tips

Facts, Fiction and Resume Writing Tips You might need to fill out a web-based form, attach your resume and cover letter, or finish a quick questionnaire. On any typical resumes, you will probably be able to chance upon an Objective statement at the top few lines of the very first paragraph. If you can create your resume more than merely a word document, it is going to be certain to help you distinguish yourself from the crowd. You dont wish to risk your work simply because you didnt pay appropriate attention to the formatting and lay out of the resume contents. Whispered Resume Writing Tips Secrets Career Summary provides a succinct synopsis of your identity and skilled profile. Resumes have changed, which means you need to make sure that youre keeping up with the most recent trends and standards. Presentation is critical. Ensure you discuss the positive things youve done in your prior work, and if there were any negative circumstances, find the positive side inside them i n case youre asked. Rather than including everything in detail, the ideal strategy is to incorporate the essential points and data that would make you the ideal candidate for a work profile. If you own a lot of experience applicable to the job that you are applying for, do what you could to fit it in. If you dont think you own a lot of that, then maybe you should get a job which is more relevant to your experience. On the off probability that youre a fresh graduate looking for work, or simply do not have a lot of expertise in the area in which youre applying for. In any event, a bit of research goes a ways towards making you seem like a terrific candidate. Bear in mind, your resume doesnt need to tell your life story. Needless to say, you dont really have enough time to do that nor do you need to. Resumes are currently changing to reflect the worth and qualities of the candidate seeking work. Resumes are now designed to supply a value statementnormally a couple of small par agraphsthat illustrates a candidates finest attributes and abilities, and then validates them in some manner. Identify their differences and their particular application before you choose the career resource which best suits you. Before you commence writing your tailor made resume, run through all of the job specification information and criteria youre able to find. Though it is probable your possible employer is going to have already printed a copy of your resume from your on-line application in preparation for the interview its a great rule of practice to bring a clean expert copy alongside you. Alas, many candidates elect to attempt to hide the gap by putting all their data in a functional format. Hiring managers may want to understand what youve already done for your former employers. Professionals are now able to make and email a resume to a number of different prospective employers simultaneously. Employers are the saatkorn manner. Employers and job descriptions can fluctuate tremendously, requiring an emphasis on unique abilities and experience. Your CV will seem more qualitative if its quantified. Resumes have to be targeted. Amazing resumes begin with good planning. Trust me, thick resumes arent that attractive. Life After Resume Writing Tips The reader will most likely not get that far and you may discuss your very last position during your interview. Below are few of the most significant things you have to keep in mind when writing a resume. Resume writing is likewise an important part for a thriving career. Pick the most suitable format before you begin resume writing to hit the work market. Resume Writing Tips - Is it a Scam? Youve got to choose what works the very best for you. After youve built up your resume with a couple jobs based in Canada, you might discover that it becomes simpler to connect with the roles you truly want. You have to present your positions their correct titles or ones that mean the exact same thing like Manager and Supervisor which may be used interchangeably. The Ideal Approach for Resume Writing Tips Browsing through the resumes of men and women in your preferred field can be quite helpful. Include personal and company references, professional memberships you hold, or another information you feel you should include. Make sure contact information are available easily Dont forget your contact number Mentioning all contact information enables the hiring manager get in contact with you easily. Ideas, Formulas and Shortcuts for Resume Writing Tips There isnt any reason to place a one-size-fits-all objective on your resume All the keyword phrases and knowledge you will need is on the work description. Think about the kind of job that youre searching for, then choose the information which seems most relevant. Possessing a well-formatted, clean and professional resume will make a fantastic first impression and pave the best way to landing a job which you truly want. Ment ion that you would like to use your previous experience but at the very same time, enhance you knowledge to the advantage of the business. Hone in on the specific abilities and go through the provider is searching for. Whenever you apply to get a customer service job you may pull this up and make changes as essential. You are going to have a chance to make it better later on.

The Woodstock legacy

The Woodstock legacy The Woodstock legacyPosted October 13, 2011, by Josie Chun August 15th marks the 40th anniversary of Woodstock, the four-day music festival that came to epitomise an entire generation. Nearly half a million people attended the rain-soaked festival that took place on a dairy farm in Bethel, New York. The historic auffhrung became a celebration of sex, drugs and rock and roll, and welches the apotheosis of the peace-and-love generation. Australia may have been on the other side of the world but Woodstock still caused reverberations here, especially when the 1970 documentary film Woodstock hit the screens and Australians were able to binnensee some of the memorable performances for themselves with a line-up that included Janis Joplin, Jimi Hendrix, The Who and Crosby, Stills, Nash and Young, amongst others. For many Australians, watching behauptung performers had a lasting and galvanising effect. Jimi Hendrix plays his famous rendition of The Star-Spangled Banne r at Woodstock 1969 Many, however, soon abandoned the hippie ideal and went on to settle down into family life and careers instead of moving to Nimbin and spending the rest of their days smoking dope and doing tantric meditation. But does this necessarily mean that they sold out and abandoned their youthful ideals? The Woodstock generation are all around you just look around your office. They may have swapped their paisley shirts for business shirts and more conservative attire, but you probably work with many who were shaped by that unique time if youre not one of those yourself. Heres what a few Australians from the Woodstock era have to say about the legacy of Woodstock. Maris, early 60s, former diplomat I would have loved to have been at Woodstock but I had to settle for Australias Woodstock, Sunbury 72, a few years later. I was working for the government at the time and of course when I was at work I had to be very serious and very public servant. But on weekends I was a hippie and wore this sheepskin coat I got in South-East Asia. The women loved it I did the done thing and took a trip down the hippie trail from Bali to Kathmandu. It was the best year of my life I had no responsibilities to anyone, I was a free spirit, on my own. I could go anywhere, no itinerary It was very Woodstock and I was a hippie. Im not into hippie ways anymore. When you get older and have kids, you realise that you were a hedonist and just lived for the senses. When I met my wife I changed as I realised that there was something called love, which was much more than just physical attraction and it was binding. James, 52, director of sales I think the event itself was secondary to the idea of the event that is, it was one of the first times that the youth of the day could unite in their own way (versus school or political or even socioeconomic tribes). A more recent view I am developing is that Woodstock and similar events the Monterey Pop Festival, Glastonbury, etc may be the root of a sickness that is hurting western society, ie. the cult of the individual. Certainly it was wonderful to break out of the stultifying 50s but I fear that the resultant f**k the world, I will take what I want and to hell with the rest of you attitude may be the aberrant child of the free love, free expression movement that these events championed. Dont get me wrong, I love the founding principles but I just feel that subsequent generations, in a bid to match or even outdo the Woodstock culture, have now got to a point where f**k you is the norm and the us generation is now secondary to the me generation. Free expression didnt mean whatever I say is right and if you challenge it I will hurt you. Peter, 58, local government manager Woodstock 1969 how I wished at the time I could go there. To those like me who had imbibed a hippie dream since reading of the summer of love in Haight-Ashbury in 1967, we could see that it would be more than just the biggest music eve nt the world had ever seen. We could see that it would be a test of whether the hippie dream an amaterialist, mass communal, peaceful gathering could become a successful reality. Alas for me, an 18 year old stuck in a humdrum and low-paid public service job in my first year out of school, going to the east coast of the United States was as remote a possibility as walking on the moon as Armstrong and co had done a few weeks before the festival. As enticing as the hippie dream was, I did not believe in it enough to shake off my conditioning to finish school, get a secure job and build a career, and abandon all that for an exciting but uncertain life on the road. So Woodstock came and went while I (and many others like me) looked on wistfully from afar. In my own case, there was a lingering effect. I was a fringe hippie. The Woodstock event was part of the catalyst for my wanting to embrace an alternative lifestyle, but I didnt get serious about doing that for some years after the event. Five years ago my wife and I bought a place in the mountains that we love but our city lives have prevented us from living there. We hope to move there in 18 months or so and adopt a quiet, simple life close to nature. The last remnant of the Woodstock dream is still alive in me. When it is viewed in the hindsight of 40 years, what was Woodstock? Great music, certainly. The reflection of hopes for a new social paradigm, yes. Have the hopes been realised? Given that the Woodstock generation are the ageing materialists, the politicians and the warmongers of today, you would have to say, largely not. But then the dream of a complete transformation of the social order was always too ambitious. The dream survives in the environmental movement, those who envision a simpler way of living with a smaller footprint on the earth. And somehow that dream still has a foothold. What did Woodstock mean to you? Were you lucky enough to attend? Leave a comment and tell us about it Resourc esMy first resumeCover letter for my first jobCareer Insider StoriesShelley Lask - Body Positive Health & FitnessInterested in becoming a?Human Resources OfficerGeneral ManagerBusiness ManagerAccountantOffice Administrator CoursesBachelor of Social WorkEnquire angeschlossen Enquire OnlineCertificate III in Health AdministrationEnquire Online Enquire OnlineBachelor of Criminal JusticeEnquire Online Enquire OnlineCertificate III in Allied Health AssistanceEnquire Online Enquire OnlineJosie ChunRelated ArticlesBrowse moreCareer progressionNetworkingHow To Follow Up With A New Networking Contact An Email TemplateNetworking is all about the follow-up. But theres no denying that it can be pretty awkward reaching out to someone youve met only once. So, if youve struck gold and found someone you want to keep in touch with, heres how to reach out to them.BusinessEntrepreneurshipMBAs the most bang for your educational buckIn an increasingly competitive labour market and one where higher educa tional qualifications are becoming the norm, its important for aspiring executives to set themselves apart from the rest of the pack.GraduatesPay/SalaryThe grad stats are out - and here are the biggest earnersGraduate Careers Australias annual Australian Graduate Survey results were released last night with good news for student satisfaction, wildwestfilm Australians and health graduates. Read on for a run down.