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Networking groups put job seekers
among like-minded

By Roni F. Noland, Globe Correspondent, 2/9/03

Need advice about managing your career or your workplace? The Job Doc can help. Our specialists can answer your questions on topics ranging from career transitions to management issues. E-mail queries to jobdoc@globe.com, or send letters to Job Doc, c/o the Boston Globe, P.O. Box 2378, Boston, MA 02107-2378. Letters may be edited for clarity and length.

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I am seeking employment and would like to find a support group in my area to keep my spirits up and share strategies. I would prefer that it is free, but will consider a paying group. Can you advise?

You are wise to seek a support group to share job search strategies, and as a way to prevent your spirits from sagging while you are searching for employment. It is far too easy for job seekers to become isolated, with daytime soap opera stars and computer chat rooms their only ''companions.''

In response to high unemployment, a number of churches and synagogues in Greater Boston have instituted job search support groups intended primarily for their members but sometimes open to the public. Your best chance of identifying a free support group is to canvas churches and synagogues in your area.

If you are writing from outside Greater Boston, check out the Riley Guide for Career Information, www.rileyguide.com, which includes a directory of selected support groups throughout the country.

Two ongoing groups in Greater Boston that charge a nominal weekly fee of $5 are The Monday Network and the Friday Networking Group sponsored by The Career Place, on eof the state's One Stop career centers.

The Monday Network meets Mondays at 8 a.m. in Needham; for more information, go to www.mondaynetwork.org. In addition to the in-person meetings, this grass-roots organization sponsors a free online Yahoo! forum, as a community service.

Chartered by the Metro North Employment Board, and managed by Middlesex Community College, The Career Place hosts a weekly job search support group that meets at the Radisson Hotel in Woburn. A feature of every 3-hour meeting is called ''needs and leads,'' when participants can ask for help or offer job leads and information. For more information and directions to the meeting, go to www.careerplacejobs.com, or call 1-888-273-WORK.

A for-profit organization, WIND, or Wednesday Is Networking Day, has been offering ''a weekly forum for professionals in job transition'' in several Greater Boston locations since 1990. Only one of the groups still meets on a Wednesday - WIND/North; the other groups - WIND/East, WIND/Seacoast, WIND/West and WIND/South - meet on other days. For locations and additional information go to www.windnetworking.com. The registration fee for newcomers is $15, with a weekly fee of $10 thereafter. Included in the registration fee is access to a database of network contacts.

There's one final group I want to mention that is different from the others in that it is a ''closed group'' - the number of participants is limited (in this case six to eight); the same people come week to week; and the group has a definite start and end date. The ''Success Group'' is offered through Jewish Vocational Service, a nonprofit, nonsectarian agency, and it runs for five consecutive weeks; the fee is $95. Call Martha Plotkin at Career Moves of Jewish Vocational Service, 617-451-8147, for additional information about the group starting March 13. (In the interest of full disclosure, I should mention that I worked at the JVS.)

These are just a few examples. To learn about others, check the ''Around Town'' section of BostonWorks.

You may have several groups to choose among, depending on where you live and which times and locations are most convenient for you. In the beginning, you may wish to visit more than one group, to get a better feel for how it operates, the moderator(s), the number and type of participants, the format of the group, etc.

Several individuals with whom I have worked have shopped around until they found the group that best fits their personality and needs. Some people regularly attend more than one weekly meeting. But one caveat: some unemployed individuals have so much fun socializing at networking groups that they lose sight of their goal of finding work!

Transition from music to finance

Through managing my own retirement accounts I've become interested in the field of finance. What type of training would a company be looking for from someone interested in research and analysis of companies? I currently work in the music field as a freelance classical musician and private instructor. My undergraduate degree was in music education, and I have a master's in performance.

Discovering that you enjoy performing an essential job-related function of a new field is a fine start in contemplating a career change. Let us look at some of the realities of the field you are considering, the skill set of the individuals in the field, and the training requirements.

Financial analysts - also known as securities analysts or investment analysts - perform the function that you describe in your question. Using spreadsheets and statistical software packages, financial analysts assess the economic performance of companies and industries, identify trends, and make investment recommendations for firms and institutions with money to invest.

One in four financial analysts works for securities and commodities brokers, exchanges and investment service firms, many of which are headquartered in New York City, according to the 2002-03 edition of the Occupational Outlook Handbook, compiled by the Bureau of Labor Statistics, part of the US Department of Labor. To become an analyst for a firm that builds investment portfolios is an extremely difficult, competitive journey, with 80-90 hour work weeks the norm, but with a highly lucrative payoff.

One in five financial analysts work for banks, credit institutions, mortgage bankers and brokers. The remainder work primarily for insurance carriers, computer and data processing services, and management and public relations firms, according to the Bureau of Labor Statistics.

For a career changer like you, one option might be a master's degree in finance or an MBA degree with a concentration in finance. Locally, Bentley and Boston College are two institutions with this program. Employers are looking for individuals with coursework in subjects such as statistics, economics, accounting, and financial analysis.

The work of a financial analyst requires excellent mathematical, computer, analytical and problem-solving skills. Many musicians are mathematically oriented, and I have known a number who have transitioned relatively painlessly into the computer field.

Another route to consider - which was suggested by someone in the financial services industry - is to talk with people in both large and small investment companies to see if there is an opportunity to be trained on the job and to learn the business from the ground up. If your interest in the field continues to grow, then you could take some academic evening courses to supplement what you are learning on the job.

Although not required for a financial analyst to practice, certification is highly recommended and highly regarded. To become a certified financial analyst, an individual needs to pass a series of tests. For more information on certification, visit the Association of Investment Management and Research at www.aimr.org.

A related job title is a personal financial adviser or financial planner or financial consultant. Personal financial advisers draw on their knowledge of investments, tax laws, and other products such as real estate and insurance to recommend financial options to individuals. Like financial analysts, financial planners gather information, analyze it and make recommendations; unlike financial analysts, their clients are individuals rather than institutions.

Planners assist clients on their short-term and long-term goals, such as saving for children's college tuition and retirement planning. Some advisers buy and sell financial products, which require the acquisition of the appropriate license, such as a Series 6 or Series 7. Others sell their time and expertise and refer clients to others for financial transactions.

Approximately one-fourth of all personal financial advisers are self-employed, and need to have good marketing, promotion and communication skills in addition to their financial knowledge. The remaining 75 percent of personal financial advisers are salaried and can work for institutions such as securities and commodities brokers, investment service firms, commercial banks, insurance agencies, and credit unions, according to the Bureau of Labor Statistics.

Although a bachelor's degree in economics, accounting, business, or finance can provide good preparation for a career as a personal financial adviser, many financial planners are career changers, most often from a related field, but sometimes like yourself, from an unrelated field. For more information about a career in financial planing, please see the website of the Financial Planning Association, www.fpanet.org.

Locally, Boston University offers a certificate program in financial planning, with frequent orientation sessions. There are two routes for certification in this field: one as a certified financial planner, offered by the Certified Financial Planner Board of Standards (www.cfp-board.org), and the other as a chartered financial consultant, through The American College (www.amercoll.edu).

Whichever route you choose, please be certain that you have thoroughly assessed your own interests, skills, personality and values, and that you have researched your options before embarking on a career change. A career counselor can be an invaluable guide as you explore the transition from music to finance.

Roni F. Noland is a career counselor and coach in private practice with over 20 years of experience helping people find meaningful work. She can be reached at RoniNoland@attbi.com.

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