It's Just Money

New Job, an update on my life

Whoa, two posts in one week?  I better not strain myself.  It's like the first time you return to the gym after sitting on your couch for two months.  Better take it slow there, big fella.

So, before I went on what we will call a sabbatical, maybe too strong a word.  We'll call it a hiatus from blogging.  Anyway, before I disappeared, there were a couple of things that I had been discussing.  I don't want to try to give updates on everything (wedding plans, Hilton Honors points, net worth, misc personal finance), after all, better take it slow there, big fella.  What I do want to update you on is my career status.

I found a new job, and I am very excited for my future there.  As usual, I can't go into too much detail, as I am still opting to remain anonymous.  However, even that may change.  Whoa!  Wouldn't that be weird?

About the new job.

I have been interviewing for jobs

No, I'm not unemployed.  And no, my current employer does not know that I am in the process of interviewing for jobs.  Thus the importance of anonymity on this blog.  So far I have only been on a couple of interviews.  One was with a large national broker/dealer, the other with a boutique financial planning/wealth management firm.  I think the opportunity at the boutique firm would be tremendous.

I would work along side the owner/founder, and see first hand everything that it takes to build, run and operate a firm such as this.

I have found that the process of interviewing for a new job is always one of considerable self introspection.  It is so easy for most of us to get caught in the routine of the day to day,that we rarely stop to consider what we really wish to be doing, whether we are currently doing it, or how we can get there.  A new job presents the opportunity to pick and choose what makes the most sense for you.  It's a time of great change.  So, why make an insignificant change.  Unless you are abundantly happy, change is warranted.  But if you are abundantly happy, why look for a new job?

I am currently reading 48 Days to the Work You Love.  It leans heavily on the Bible and religion.  More than my liking, but oddly enough, I don't find it distracting to the core of the content.  Franky the FSA would likely disagree.  I may do a full review when I'm done.

American Idol is Ruining America

I'll admit it.  I watched the opening night of America Idol on Tuesday.  But let's face it, if the numbers are accurate, so did you.  An estimated 37.5 million Americans tuned in for some nails on the chalkboard singing, followed by "What the bloody hell was that?" "No Dawg, wasn't feeling it" and "Sorry Sweetie, it's a no."

It's not Super Bowl numbers, but for a show where we already know what is going to happen, it's rather astonishing.  But it's not the fact that so many are watching that is ruining America.  I mean, perhaps there's a dumbing down factor, but I'm not so worried about that.  After all, I opened this post with my own admission that I watched.

There is another factor, and it has directly targeted America's youth, intentionally or not.  It is a condition that I think we can simply call "overblown expectations."  Today's 15-24 year olds may someday, if not already, be referred to as the American Idol Generation, or the Reality TV Generation.  They are a generation who grew up witnessing Kelly Clarkson blossom from American Idol winner to bona fide pop music star.  Survivor Alum Elisabeth Filarski Hasselbeck married NFL quarterback Tim Hasselbeck, and currently co-hosts The View along side actual celebrities (like them or not) Barbara Walters and Rosie O'Donnell.  What about Bob the Bachelor?  Booted on the Bachelorette, goes on to be the man in the next Bachelor and hosts VH-1's "I Love the 90s."

Here's a Profession That I Don't Get, Pharmaceutical Salesperson

I'll admit, I'm in a profession that many think is unnecessary.  I work in the investment management business.  Many, in fact many personal finance bloggers, believe that my profession creates extra expenses and adds no value.  I understand this perspective, and obviously disagree, but that's not the point of this post.  I'm here to pick on others, not myself!

I was in the lobby of my client, who is a doctor, when another suit enters.  He looks at me, knowing that I am not a client, and says, "Oh, hi there.  Who do you represent?"  I can see his briefcase bursting with pharmaceutical samples, and realize that we are there for two completely different reasons.  As we wait for the doctor, we begin to chat.  You know, "how long you been doing this?  How do you like it?"  The usual stuff.

Are frugal, personal finance minded individuals less ambitious?

This questions was prompted by a recent conversation with a friend.  His theory was that greed is ok, good even (been watching a little too much Gordon Gekko) because it motivates you.  He explained that he likes "nice things" and will work hard to get them.  If that's considered greed, so be it.  But I think he missed the point.  It's not a question of greed, which to me conjures images of hoarding, rather than lavishly spending.  It's a question of materialism.  He didn't say that he wants a lot of money, so that motivates him to work hard.  He said that he likes "nice things."

But if he is motivated to work harder, be more ambitious, advance his career to gratify his materialistic desires (as well as practical ones), is the opposite true?  If I have low materialistic desires, am I less motivated to work hard and advance my career?

Ways your personal life can hurt your professional life, or Don't Be Tom Cruise

Can you blame Sumner Redstone for severing Paramount Pictures' ties with Tom Cruise.  I mean, do you know anyone who doesn't think Tom has gone completely crazy?  But to lose a deal with Paramount Pictures probably worth hundreds of millions of dollars? 

Despite lower than expected domestic ticket sales, Mission Impossible III and War of the Worlds went on to gross $393 million and $591 million respectively in global sales.  So, it doesn't appear to be a business decision.  Redstone was quoted as saying, "As much as we like him personally, we thought it was wrong to renew his deal.  His recent conduct has not been acceptable to Paramount."  That's corporate speak for, "Tom has gone looney toones, and we don't want anything to do with him."

So, I began to wonder.  What can you do in your personal life that could hurt your professional life?  Here's a list of things I came up with.  Feel free to add anything I forgot.

Where do you see yourself in five years?

It's a classic interview question.  Not the most creative question ever, but you may still get it.  Do you have a response prepared?  Whether or not you are in the process of interviewing for a new job, it's a question you should be asking yourself on a regular basis.  The intent behind the question is very different from the interviewer's perspective than it should be from your own.

The interviewer is trying to understand a couple of things about you. 

How I got started on my career path...

Credit goes to Financial Freedumb for this topic idea.

I knew I was interested in business and finance from sometime in high school.  I suppose it was around the time my guidance counselor, teachers and parents were on me to "figure out what I was going to do with my life."  They knew I was college bound, and at some point someone put the idea in my head that I would make a good accountant.

Worst>Job\Ever^

This post inspired by Nickel, at FiveCentNickel.

I sold life insurance.

Yuck!  I'm a freaking pariah!  I mean, I might as well have become a used car salesman, or a personal injury lawyer.

So young and so naive.  I wanted desperately to get into the field of financial planning.  I had some experiences teaching friends about the basics of banking, insurance and investments, and knew that I wanted to do that for a living.  At a career fair on campus I met a recruiter for Northwestern Mutual Life.  I went on the interviews, talked to the top agents, and made very clear that I was interested in the whole process, not just the insurance.

"Of course!" they responded,  "we want you to get licensed for investments, and take care of the entire picture for your clients."

Would we be surprised at how much you make?

Driving home last night I heard this topic on the radio. It was on the Conway and Whitman show on 97.1 FM Talk. There were some interesting responses. For example:

In N’ Out Manager makes $120k/year. For those of you who don’t know, In N’ Out is a burger joint, very popular in Southern California.  They are a 50s throwback, privately owned, with a simple menu of burger, cheeseburger, double double (two patties, two slices of cheese), shakes, cokes, and fries. You think managers at McDonald’s and Burger King make six figures?

Strip Club DJ makes $1k/night. You know the guy, “Gentlemen, welcome to the stage, Chastity! Now, don’t move a muscle unless you’re reaching for that wallet!” This guy works Friday and Saturday night, and makes $2k/weekend. That’s six figures on two nights per week!

Dog Groomer, 90k. This is a business owner. I’m sure not all dog groomers make this much.

Bouncer at a popular Hollywood night club makes over $1k per night on the weekend. Much like our Strip Club DJ, he’s pulling in six figures with his Monday through Friday totally free. Somehow, I think this is the more demanding job.

Ambulance Driver, $7.50 per hour. This is barely above minimum wage. At 40 hours per week, and 52 weeks per year (assuming either no vacation, or paid vacation) the folks saving our lives are getting paid $15,600 per year. It takes our Strip Club DJ eight weeks to make that much. Our In N’ Out Manager does this in less than seven weeks.

How about you? Would we be surprised at how much you make? Why do you think jobs that seem to add zero value to our society, such as Hollywood Bouncer makes more than double the national average household income, yet, guys racing around to save our lives are under the poverty line?

Since we’re on the topic, I’ll tell you what I make. I work on a commission basis, much like everyone else in this industry. Last year I made about $125k. Is what I do more important than manning the door of a hot club on the Sunset Strip? I guess it depends on whom you’re asking.