The Job Market "Recovery": 344 Applicants For Job At Moody's
Daniel Drew, 4/13/2015
Nothing says "recovery" like 344 people applying for one job. This is for an analyst job at Moody's, which is currently under investigation by the Department of Justice for their role in creating the housing bubble. In 2011, the bipartisan Financial Crisis Inquiry Commission said the credit rating firms were "essential cogs in the wheel of financial destruction."
Now, with any luck, you too can participate in the next scam in an industry defined by conflict of interest. When the security issuer pays an agency to rate their offerings, what could go wrong? Just imagine if your boss paid you $250,000 to objectively "rate" him. Triple A all the way. That price is the going rate at the big credit rating agencies.
If you're discouraged by the 344 to 1 odds for having the privilege to engineer the next financial meltdown, you might be thinking it's time to go back to school for yet another degree. Think again. A market microstructure researcher job that requires a Ph.D. has 95 applicants.
Why bother with getting a Ph.D. for 95 to 1 odds? For a few bucks, anyone can go to the race track and bet on the 100 to 1 horse.
When the race track gives you better odds than the job market, you can be confident that the "recovery" has finally arrived.