Wednesday, June 30, 2010

Coming Clean, Step By Step, Summer 2007

So the first thing I set out to do was to get another certification to my name. The examination was called the NYSE Series 14 Exam, which qualifies someone to be a Compliance Officer at a Securities firm. It's not an exam many people take, so there aren't a lot of study materials available.

I spent a good month preparing for this exam. I figured it would be a good way to segue into another area of the industry. I was what they call a "Floor Official" at the Exchange, which charges you with responsibility for trade compliance through consultation with Specialist firms and brokers from other Brokerage firms. I had hoped to make a transition to Compliance in-house at Merrill, but time ran out, obviously.

Well this was another instance of mistaken suppositions. I passed the exam on the first try, and thought that I'd be good to go. I was wrong. The first obstacle I hit was the one that vexes nearly every person who is seeking employment: The Experience Catch-22. No one is hiring anyone without three to five years' experience; can't get the experience if you don't have the job. Round and round.

I had my severance pay, but I know that was finite. I had three years' salary saved in addition to that. I thought I had prepared well.

Wrong again.


  1. Jimmy sounds like this was a very hard time for you ~ I look forward to reading more about what happened to you whilst seeking that elusive job ~ Ally x

  2. Hi Jimmy,
    Your story is shaping up to be what everyone dreads: To be discarded like a "used utensil" by an employer after years of dedicated service. Shame on Merrill Lynch. I know other people there who were let go during the same general timeframe and, if you ask me, the way they treat people just plain stinks.

  3. Okay Jimmy, my Lucrative Blog is now deleted... or about to be. So I'm off to
    HOPE to see you there!!



I love comments. I won't lie about that!