Some just breaking Good News: Korn/Ferry Int., a leading Executive Recruitment firm, saw their third quarter 2004 earning soar...as financial services companies and oher businesses sought new executive talent!

What’s the big news in NYC this week?
2,500 employees will soon be coming loose from Marsh

(Thank you Eliot Spitzer!)

Marsh is going through a major upheaval; the reasons for the job cutbacks have nothing to do with the quality or job performance of these people, it is, instead, all about the changing economy, overall soft business conditions, the fines and penalties imposed by the legal system, and the lingering after-effects of 9-11.

Here’s the right way to look at this major event: A highly skilled, talented and very employable group of people from one of America’s most prestigious firms are suddenly available for hire!

From our perspective, here’s the (bullish) prognosis for those 2,500 some soon-to-be ex-Marsh people:

1. The Big Producers (new business oriented) will be scooped up quickly by rival brokers.
2. Mid-level managers will find new jobs in 3 to 6 months.
3. Secretarial. These jobs are available and the Marsh group will find jobs relatively easily.

Marsh only hired top-drawer people; these high-quality employees are always in demand. Yes, this will sometimes require relocation, particularly with the top people. Mid-level managers may end up in Philadelphia or New Jersey or White Plains. Those at the secretarial level will mainly be absorbed in the NYC market.

Salaries will range from "the same" to slightly less in most cases. There is continuing pressure on costs and employers are watching their pennies more than ever.

The economy in NYC is trending up...not dramatically, but the city is continuing to recover from 9-11 and is slowly but surely adding back the lost jobs.

Of course Marsh was one of the companies that suffered the worst loses on that awful morning.

How 40 Plus can help. Our focus is on the Over 40 Executive, which has been our niche since our founding back in 1939 (when America was still recovering from the Great Depression, which hit Wall Street particularly hard).

But any employee of any age can benefit tremendously from 40+.