Wednesday, June 27, 2007
Help
On the other hand, I have continued with my crazy job process with Bank of America and HSBC. Let's see. For HSBC, the process was as follow: (1) Career Fair; (2) Interview with Financial Advisor in Queens; (3) Interview with Regional Manager; (4) Interview with Financial Advisor in Manhattan. Step 4 was today. I have been nailing interviews. Everyone was so recessive and timid that it seemed as if I was the one hiring for the position. Now, I wait for phone call from the regional manager - a guy who made 6-figures when he was 24. Soon, I will FINALLY find out how much my salary is.
As for Bank of America, the process was as follow: (1) Applied online; (2) Questionnaire; (3) Brief Phone Conversation; (4) Assessment; (5) Survey Questions; (6) Phone Interview. Step 6 was today also. I did horribly. I mean, I nailed the interview, but it sounded terribly. What happened was that I scheduled the interview with HSBC and Bank of America too closely with one another. As a result, I failed to find a quiet place in Manhattan (after my interview with HSBC) to take the phone call with Bank of America. So, I had a half-hour phone interview with a tremendous amount of background noise. The recruiter kept asking if everything was okay, because it sounded as if I was in the middle of some major construction. Now, I have to wait for a background check. I am scheduled to call her next Wednesday to see if I make it to the final interview.
Now, the dilemma. If given both offers, which job should I take? Both jobs are so different.
HSBC is a sales assistant to a Financial Advisor job. I will not be in the Banking side of HSBC; instead, I will be in the Securities side. I will have a set salary (which is unknown at this time). They will sponsor for my licenses. I will be doing clerical/sales things in assistance to 2 Financial Advisors in Chinatown, Manhattan. (I was chosen to be placed there because of my language skill... duh.) After a few years of experience, I would be promoted as a Financial Advisor. As a FA, it is the fastest way to make 6-digit. However, either you're good at it or you're not. It usually takes 2 years to differentiate. The BIGGEST problem is... there is no salary (apparently). My income would be entirely based on commission. As you can see, it is an extremely unstable job. Although I strongly believe in succeeding in the profession, the economy plays an important role on your income as well.
In the so-called "Asian Market" of HSBC in NYC, all of the FA makes a range of $60k (for FA starters) and $500k. They make an average of $100k, with most of the FAs making above that mark. Generally, it is extremely rewarding.
Commuting to Chinatown is definitely unpleasant. Originally, they were to place me at a branch that was only 15 minutes away from home. However, because of my inability to speak Mandarin fluently and my fluency in Cantonese, they are placing me at Chinatown (a 50 minute commute). If you know NYC Chinatown, it's dirty, loud, and croweded. My plan is to never walk more than 2 minutes in Chinatown. The subway station is right in front of the HSBC branch (literally within 5 steps). So, jump in, jump out.
Bank of America's position is a Assistant Manager Associate position. I will start as a unlicensed personal banker. In 1-2 yrs, I will be promoted as an Assistant Manager. It is a stable position with a set salary. However, promotion after Assistant Manager is extremely difficult in the competitive banking industry. The salary is average for entry-level, but it is extremely low in my standard. Even when I am promoted as an Assistant Manager, the salary remains the same. So, raise and promotion is nearly non-existence.
At last, I think I am pretty set that I would take the HSBC job instead of the BOA job... if given the opportunity. The problem is... do I take the offer? Or, do I wait and continue to apply to other jobs? I think the salary (if I EVER find out) for HSBC will make the decision easier.
Sunday, June 10, 2007
Friday, June 08, 2007
When will I ever get a job?
In case I don't get this position, I have taken the necessary steps to secure other positions. So, I finally contacted the recruiter for Bank of America's Assistant Manager Associate. I was suppose to set up a phone interview a few weeks ago, but I was forgotten. I spoke to the recruiter on the phone, and she was extremely informative. I found out about the salary, bonuses, work schedule, advancement opportunities, etc.
If I get the job, I will start out as a personal banker. I will be getting licenses (I think, or take classes) to sell CDs, credit cards, etc. If successful, the next step will be Assistant Manager within an average of 12-24 months. Strangely, both positions pay the same. The only difference is the bonuses. I spoke to the recruiter about my career path. It will definitely still be able to become a Financial Advisor. I will get the necessary experience, and the inernal "connection." The good thing about this position is that I don't need the years of experience to become a personal banker as required by other banks.
It is such a long process. At this rate, I'll never get a job. 1. I applied; 2. got a call for a phone interview; 3. completed questionnaires and I'm still being considered; 4. now, I have to take assessment tests online... then, 5. I'll have to wait to get a call back to see if I did well on the assessment; 6. I'll be referred to a hiring manager..... THEN, I'll get a formal interview. *sigh*
Thursday, May 31, 2007
Become a Financial Advisor?
Originally, I thought "Financial Analyst" was a glamarous title. Their job description is so technical. However, after some research, it seems like "Financial Advisor" is the better job that has the same compensation. Apparently, it is one of the top rated careers. It was ranked first a few years ago, and in 2006, it fell to 3rd place. In general, the job outlook is excellent. Job openings are increasing above average. Additionally, with the baby boomers and longer life expectancy, the need for financial advisors is increasing.
4 out of 10 financial advisors are self employed. Think of them as law consultants, but finance. Many Financial Advisors teach adult classes at night. This is their way to gain customer base. On the other hand, Financial Advisor retirees become professors as well.
To become a Certified Financial Planner (CFP), there is an approximate of $500 exam fee, a 10-hour exam, and 3 years of experience as a Financial Planner or Financial Advisor. To become a Financial Advisor, I'll need my 2-3 years of experience as a sales assistant.
Financial Advisor works 9-5 pm. Unlike Investment Analysts (who work 60-70 hours a week), Financial Analysts (who work overtime at night for research), etc.
The only down side is the "stress" that comes with any sales position. You'd need to sell products, services, and convince others to give you their 6-figure salary to manage. According to one of the advices I read, you shouldn't seek for a Financial Advisor unless you make a 6-digit salary.
As Rob puts it, as a Financial Advisor, you make the rich get richer. Heh. At least, I will be able to make me richer, too~
Wednesday, May 30, 2007
The Ladder
I love all of these licensing things. Originally, I wanted to go into the industry of actuary. Although I hate taking tests, passing each test increase their income in the actuary industry... as opposed to experience. I guess, obtaining these licenses, you are not as easily dispensable or replaceable.
On the other hand, I'm still confused in terms of structure. He is hiring a junior financial advisor. He does have a secretary. So, I know for a fact that I'm neither, but I definitely will learn to do his 6-figure job.
I have looked up the average salary for various positions in HSBC. HSBC's compensation is generally higher than average. In terms of "performance," I always thought it's really about whether or not your supervisor likes you. At least, I don't need to go out to get customers; they come to me. In the end, this seems to be the best opportunity that is out there for me now. I skipped my 4 years, and I didn't have to become a teller.
I like the Japanese's idea of "lifetime employment". Now that I found my way inside HSBC, I don't ever want to leave! (Of course, unless I'm offered a higher salary. lol)
Tuesday, May 29, 2007
A Job Soon?
Weeks before the day of the career fair, Rob and I joked about how she shouldn't invite anyone. This way, they'd have no one to choose but me. What happened was not far from what we wished. The day started out with me volunteering and running around to assist Rob's mom. Our goal was to get me recognized by giving them free lunch coupons, etc. Rob, on the other hand, was at the receptionist desk greeting the remaining employers that were late. When I returned, I learned that he was offered 2 jobs, sitting there in his jeans! Well, that's just not where his career is going. Too bad for them.
Sweats were literally dropped on my face, one by one. I was frustrated at first. So, I spent half an hour sitting, idling. Originally, I planned to visit Aflac's representative for their management trainee position. I am especially attracted to a management trainee program. After all, aside from Economics, I'm a business management major hoping to obtain my MBA degree. Unfortunately, they didn't show up that day. I also learned that John Hancock Financial was to attend the event; however, they, too, did not show.
The career fair was flooded with big corporations, government agencies, retail companies, and many companies with office in Flushing, NY, a town run by the Chinese community. In other words, MetLife, New York Life, and all of the insurance agencies blended in together. They all obviously wanted an insurance agent that can speak Cantonese and/or Mandarin. I was half delirious when I dropped my first resume with New York Life. I received a call from them, but I'm definitely not interested. After all, working in a Chinese community isn't really the most glamarous job.
Rob's mom had previously pointed out the branch manager for HSBC. Instead of waiting for her to introduce me to them, I visited their table. I spoke with a Vice President, Sales Manager of the branch in Flushing, NY. At that time, I thought he was the branch manager. He was somewhat informative. In the end, he just told me to give him my resume, and apply for a job he suggested on their website. If all fails, he told me to apply as a bank teller. Like every other applicants, I got a goodie bag. He included "A Brief History (of HSBC)" in my bag. He told me to study it, and I was the only person who received it. Minutes later, I asked Rob and my friend if he had received the same book. He said, everyone got it. Doh!
I rolled my eyes, and cursed the career fair. It was so pointless. All of the banking representatives adviced me to become a bank teller. I know what I am worth through other job offers and interviews. I definitely do not need to become a bank teller, especially when I'm getting an interview to become an assistant manager associate.
I forgot to mention that the career fair was filled with non-English speakers, Chinese elders asking me to translate what positions are offered, teeny boppers, and those who weren't even dressed appropriately. The only candidates that qualified was truly me, our friend, and his brother.
After 3 hours of chaos, the career fair ended. We ate our late lunch, and we went home. On our way back, HSBC called. A subordinate to the HSBC representative called to schedule an interview. So, today, I met him, a financial advisor for Securities, for an interview. The interview was half an hour long. I read that history book that I got, too! Apparently, as you probably can guess, HSBC stands for Hongkong Shanghai Banking Corporation. I always wondered if it was Hongkong Shanghai Bank of China or Heng Seng Bank of China. I guess I was wrong. Anyway, that book didn't help my interview.
So, the title for the Full Time position is Sales Assistant. The title definitely underrepresents the position. In general, my main responsibility is to assist the Financial Advisor. Apparently, an average financial advisor at that branch makes $120,000. That's a lot of dough! In terms of career path, ultimately, it prepares me to that 6-figure position.
Unlike the requirements below, mine was slightly different. I will be sponsored to take the courses and tests for a serie of licenses. I will have 3 months to obtain them, or else! 2-3 years down the path, depending on performance, more options will be available to me - one of which, of course, is to be a financial advisor. This branch at the Chinese community is much more prestigious than I imagined. Apparently, they have the top sales and revenue in the ENTIRE world! The financial advisor is one of the top sales in the whole world as well. His awards covered half of his desk. His subordinates have all turned out well. Keep in mind, he looked like he is in his 30s. One of his subordinate is "very pregnant," so despite the fact that she could have become a financial advisor already, she has chosen to become his secretary. Another subordinate of his has chosen the banking side; he became a premier banker - a top banker that handles high-end customers.
The position is very promising. It looks like I can learn a lot from the branch and the financial advisor. Most importantly, it's like the perfect job. I've always wanted a job in the glamarous investment banking industry. Then again, I didn't want to work 60-70 hours a week like them. With this, I'll be working in bank's business hours~
In terms of requirements, I am to manage assets professionally. i.e. Handle customers who are unhappy despite the fact that you made money for them. I am to speak Cantonese and (try to speak) Mandarin. Fortunately, Cantonese makes up around 60% of their customer base.
I was promised a second and final interview with his boss in Manhattan. It SEEMS like it's just a formality. Like, you really have to screw up to be rejected. I told them that my official availability date is not until the end of July. They are actually going to make arrangements to suit me. If I don't work at the Flushing Branch, they will send me to Manhattan. I guess, I'm fine with both. In the end, I think I will most definitely take the position as soon as it's offered.
Oh, I love large corporations! I can't wait until my MBA tuition gets reimbursed. I'm glad I went to the career fair. I definitely did NOT get any calls back by submitting my resume to their website! On the other hand, my salary has not been discussed yet. I suspect that it will be low... but I'm crossing my fingers.
And, hun, it looks like I'm closer to that 6-figure job! I'll let you be my secretary. *wink*
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Job Description
Must have your Series 7 and 63 to apply for this position. This sales assistant position directly supports 1 or 2 Financial Advisors.
The incumbent provides sales support to Personal Investment Advisors to contribute to development and expansion of investment-related Private Client Services (PCS) relationships. Coordinates activities to contribute to achievement of volume, quality and profit objectives.
The principal accountabilities will be to serve as primary liaison with Financial Advisors (FA), Personal Investment Advisors (PIA), branches, customers and internal departments via in-person meetings or phone for marketing-related support, quality control monitoring and other performance-related disciplines required to expand, retain and attract further PCS sales-related activities. Assist in acquisition and maintenance of qualified clients; assist in the delivery of sales and investments. Work independently and in conjunction with the FA and PIA in identifying and acquiring new clients as well as maintaining existing accounts.
Coordinate the application process by ensuring collection and organization of all necessary application information for trade processing and/or higher management. Work with FA/PIA and customer to obtain information needed on a regular basis to audit, certify and update client files. Ensure policy exceptions are routed to the appropriate channels to ensure timely action. Generate and analyze specialized reports on sales activities as well as analytical and administrative support for the budgeting, forecasting and commission payment processes.
Adhere strictly to compliance and operational risk controls in accordance with Company and regulatory standards, policies and practices; report control weaknesses, compliance breaches and operational loss events. Complete other related duties as assigned, including coordinating relationships with external vendors supporting Private Client Services. Support the Company’s Diversity programs.
•Minimum of an Associate's Degree in Business, related field or equivalent experience
•Minimum of four years proven private client services sales and/or support experience or equivalent
•Series 7, 63 and Life and Health Insurance licenses
•Proven analytical, decision-making, interpersonal, communications, customer service, sales, problem-solving, multi-tasking and organizational skills
•Knowledge of brokerage products and services, operations supporting them and pertinent regulations affecting their delivery
•Proficiency with personal computers as well as pertinent mainframe systems and software packages
Sunday, May 27, 2007
Etymology
In high school, I had to look up the meaning of my name. In short, the name Stephanie means crown.Now that I am home, I have been digging through things, cleaning, and organizing things that have been long neglected. I found telephone bills from 2002. I also came across the above greeting card from Uncle Paul and Auntie Patricia. Although the card is as old as I am, I am actually quite familiar with it. Anyway, I thought it was interesting so I took a picture.
This is the greeting card on how I received my English name. Long story short... my cousins in the US decided on a name for me; subsequently, my aunt decided to include it on their card. And bam, I was named Stephanie by my cousins who have probably never even met my parents. Luckily, they didn't name me Madonna or something. In fact, I'm pretty satisfied with their decision.
The origin of my Chinese name is not any different. I got my Chinese name from family friends~
Monday, May 21, 2007
Graduation
Now that we have graduated, Rob has to study for his Dental Admission Test (and possibly Optometry Admission Test). I will be working part-time at home. Meanwhile, I should be working out to lose weight before the Bahamas. My family and I all got supersized over the winter.
My favorite picture and guy:

Behind is the apartment that we lived in. I'm going to miss cooking together everyday~
Our self-decorated caps
Sunday, May 20, 2007
Final Days on Campus
Below is part of a water fountain that our campus spent $3 million on. (Or, something like that). There is a silver tower to the left. Even today, I still don't know what it is. This is what you can do when you're rich - build something useless. (A man, by the name of Charles B. Wang, donated it.)

Here is one of the libraries that you go to socialize and not study.
Wednesday, May 09, 2007
Job Search (Continued)
I'm getting a phone interview with the Bank of America this week. The position is Assistant Manager Associate. I would start off as a personal banker and work my way (approx. 1-2 yrs) to become an Assistant Manager at a branch. I was really happy, until I read forums that Bank of America's salary is extremely low. It is almost half of what I was offered at Dai-Ichi Life.
Third, I received a staffing firm email for an accounting position at a large telecommunication firm. She asked me what my target salary is. Because I wasn't that interested to begin with, so I said $50k. (Just in case the high salary may change my mind about this undisclosed firm.) She said she would get back to me, because the employer wants someone to start in a week, and I won't be available until the end of June. Now, I am questioning if I should have aimed lower.
At last, another staffing firm has a 3-month temp position for Merrill Lynch. Ultimately, that's what I'm aiming for. It pays $24/hr or $29/hr bill rate. According to them, 8 out of 10 temps will acquire full time position at the investment banking department at Merrill Lynch. Then again, they told me to get back to them when it is closer to my official available date.
Anyhow, I have learned to negotiate with these staffing firms. I'm just worried that my carelessness in these negotiating process will take away everything. Heh~ On a positive note, my current supervisor likes me so much that she is allowing me to work "for as long as I like" at home. So, I will be working on my own schedule, and watching TV while I "work". Additionally, she's giving me a raise! =)
In the meantime, Rob and I are going on a cruise to the Bahamas for 7 days! We will be going on June 1oth. Pictures to come~
Monday, April 30, 2007
Eek!
Today, the recruiter called me and told me that Dai-ichi Life had contacted them before they were able to reject the offer. They were extremely interested and wanted a second interview. Unfortunately, I won't be taking the job.
On a positive note, the recruiter said she has a lot of confident in finding me another interview (based on the feedback of this employer). So, as long as she's confident in me, she'll hopefully give me good finance positions. I told her that my minimum salary requirement is what they offered me for Dai-ichi Life. HaHa. Let's hope she finds one in the finance field. *Cross Fingers*
.... If only I can bargain with Dai-Ichi Life and tell them to pay me $5-10k more. I'll probably give in after that. I guess I shouldn't be so greedy~
Saturday, April 28, 2007
Interview & Broadway
First, I had the interview with 第一生命. Despite the fact that I went on the wrong elevator, came down, and went back up to the 28th floor, I was early for 15 minutes. I rang the bell, and I was escorted by a Japanese receptionist. If I hadn't know, I would have thought she was a mute. Before I told her that I have an interview with Mr. Yamashita, she just waved me to the conference room. Anyway, they gave me a test on accounting and math. The math was all 3 digits/2 digits addition, subtraction, multiplication, division. LOL. I refused to use the worksheet that they gave me. So, I did it in my head.
Anyway, they asked me the following questions:
What are your strengths? - I couldn't shut up here.
What are your weaknesses? - It took me a long time before I could answer that one.
What are the differences between Japanese and Americans? You don't want to know what racist comment I made.
If the Japanese executive were to come to NY, which Chinese restaurant would you take him? As stereotypical as this sounds, I said the soupy Shanghai dumplings (as Mei had presented in class) or Peking Duck. Haha.
What is your salary requirement?
Etc. Overall, I did well. I made them laugh a few times. It's hard to explain. The environment is very different. Dai-ichi Life in New York only has an accounting and research department. As for accounting, it's run by a small group of people. I met with 2 vice presidents - 1 for human resource, and the other for accounting. Anyway, I don't think I will take the job if I were given the opportunity. There's something Japanese that I don't like about the company. In short, the place seemed to be runned by men. Also, there is little to no growth/advancement opportunity.
Secondy, I had an interview with a second Japanese recruiting firm. I had my excel test there, and scored a 83%. Like the other recruiter, she wanted to test my Japanese. Everyone has to keep stop asking me why I took on Japanese! Because there isn't a more specific answer, I keep telling them it's because I used to read Doraemon. Either way, Japanese people seem to like that answer. Anyway, the Japanese conversation went well. It was flawless besides the fact that I forgot the counter for books - satsu.
After 2 interviews, I met up with Rob. A cop driving a limousine and a white van crashed literally 20 feet away. To the point, the both of us and everyone else saw the collision approaching us and stopped. Anyway, we survived. Stupid cop. Then, we went to Simply Pasta for dinner. The restaurant was BEAUTIFUL. At 8 pm, we went to see Rent.
Now, like everyone who had seen Rent, Seasons of Love is stuck in my head. At least, I remember how many minutes are in a year now~
Five hundred twenty five thousand six hundred minutes. How do you measure a year in a life?
Saturday, April 21, 2007
2nd Interview
As for this one, I wouldn't need to speak Japanese. And, they didn't test my Japanese like the previous recruiter. Anyway, they forwarded my resume to the company, and now, they want to meet me next Friday.
As for my past interview, it went well. They will match me with Japanese companies in the finance/marketing industry. I don't think they are capable of offering me anything better than what I am offered from the other recruiting company.
Wednesday, April 18, 2007
"Do you mind if I test your Japanese skill?"
It believe I am getting hits on my resume because of my language skill - I put "fluent" for Cantonese, "knowledgable" for Mandarin, and I indicated the number of years I have studied for Japanese. I didn't apply to any of the phone messages or emails, until I came across the name - Fujisaki. Never have I imagined having to speak Japanese for work - until now.
I missed the company's phone call in the morning. In the afternoon, I found the email from Ms. Fujisaki. After I googled the company, I replied to the email. The company that she represents is a recruiting company for bilingual and non-bilingual jobs in various industries such as sales, marketing, etc. By "bilingual," they really just mean Japanese and English. Of course, I did not want them to think that I am fluent. As a result, I clearly stated that in my email.
Within the next hour, Ms. Fujisaki called me. She had the typical Japanese speaking fluent English accent. When I continually clarified that my Japanese conversational skill is minimal, she was in disbelief because of the number of years I have studied Japanese. She asked me if I can use my Japanese at work / to deal with clients over the phone. I said, NO! She then asked, "How about with some practice?" I shrugged, and said, "I guess..." Then, SHE WANTED TO TEST MY JAPANESE!
First of all, I haven't spoken in Japanese for ages. The last phone conversation I had with Eun-Jung was chaos. I woke up from my nap, my mouth opened wide and nothing came out. So, Ms. Fujisaki asked me some basic questions. I feel like I was having my oral proficiency exam in one of the classes in Japan. She asked, "How did you like the lifestyle in Japan?" / "What did you study in Japan?" / "In what ways did you study for Japanese in the classes at Chiba University?" / "Are you fluent in Cantonese/Mandarin?"
Despite the fact that my words were so colloquial, she kept applauding my language skills. I understood everything she said. However, I did not respond with the most polite form.
In the end, she wants to interview me. Therefore, I am meeting with her at her company on Park Ave on Friday. She asked me what industry I would like to work in (since she has a long list to choose from). I said no to her suggestion for Sales, and settled to her next suggestion for Marketing. According to their website, they have many employers from the Fortune 500 list. Now that I know what I am doing, I will probably see if she can put me in a Fortune 500 company for finance.
Monday, April 16, 2007
Black Out
Each year, each student experiences at least 1 black out. Yesterday, there was all kinds of warnings - coastal flood, heavy wind (30-50 mph), heavy rain, flood, etc. And, what happened? A black out before we showered, cooked, or ate.
It was 9 pm. Rob has a test the next day at 8 pm, and he had yet to start studying. After we cooked and ate on the other side of the campus where there was power, it was already 12 am. Power outage usually lasts for 2 hours. However, it was 3 hours, and still no power. Fortunately, we had a dozen of tea light candles. (Thanks to Cori~)
After studying an hour or two at the hallway with the emergency light, I HAD to sleep before waking up for work the next day at 8:30am. Rob returned to the room and attempted to study in the room. He used the illumination from my laptop, which lasted no more than 3 hours.
At around 6 am, I was half awake from my sleep - Rob had finished studying for the day. Not to mention, we spent a long time debating where to study, when to sleep, and how to study. After reading 3 chapters of 5 or some chapters, he blew out the candles. And, what happened? At the instant the room became pitch dark, the power came back on.
Poor guy!
Thursday, April 05, 2007
Sunday, April 01, 2007
Yikes!
She's so lucky that I wouldn't do anything with those information. She trust people a little too much... especially in New York. Keep in mind, I only worked for her for less than 2 months.
Naturalization Interview
Anyway, I passed. I'm glad I came back to NY when I was in Japan. They would have given me a lot of problems if I wasn't in the country for more than 6 months at a time. There were 10 questions, and they were:
1. Who was the first president?
2. How many stars are there in the US flag?
3. Who signs bills into laws?
I forgot the other ones, but I aced it - 10/10. I must admit, I studied for 20 minutes the night before. xP
Now, I am qualified for even more jobs. Whew~
Job Offers
In the end, things didn't work out. It turns out that I would only be able to get reimbursement for only one course per year or semester. And, the only other incentive is that they can deduct my tuition from my paycheck. This way, I wouldn't have to pay as much taxes.
Since we couldn't work things out with that option, we totally abandoned it. She's trying to set up a meeting for me with a vp at a very prestigious investment bank. Then again, do I really want to work 60 hours a week? (No!)