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12/21/2009 04:32 PM

Wall Street Worker Confidence On The Rise, Study Shows

By: Asa Aarons

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Despite layoffs, terminations, downsizing and cutbacks, many Wall Street workers say things are looking up.

That's the conclusion of OneWire.com, an employment research firm that surveys tens of thousands of present, former and hopeful Wall Street workers to better understand upcoming trends.

“In the last year and a half, they cut to the bone,” explains Skiddy von Stade, chief executive officer of OneWire.com. “Now we are seeing the economy stabilizing, investment banks and the hedge funds are starting to hire again, and that’s a great sign.”

According to the study, 58 percent of Wall Streeters expect the total compensation of their next position to be the same or higher than their most recent position, while 57 percent would consider accepting a position that pays less than their most recent position and 39 percent are willing to settle for anything related to their field.

Confidence among some though is waning, with 41 percent not believing that finance is as desirable a career path as they thought just two years ago.

Almost 80 percent of the respondents readily acknowledged their search was taking longer than expected, but still expressed optimism.

Von Stade calls it cautious optimism.

“Most people out there want to stay in finance. These people are incredibly competitive, well educated and for the most part they want to stay in those positions,” he said.

And many are optimistic about allied fields.

“If you've been looking for a job for a year and a half, going the corporate route and helping a corporation with its financing might be a way to go,” said Von Stade.

He advises those on the lookout for a Wall Street position to sharpen up interviewing skills.

“If you are looking for a job, don’t lose faith, be disciplined, network,” he said. “Talk to people and remember you worked before, you will work again.”