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PDF Editor FAQ

California has seen more than 15 consecutive years of net resident losses to other states. Will this trend continue?

I’m surprised that their numbers only go back to 2000. The California exodus started in the late 1990s with a highly coordinated, concerted effort by Republican governors to lure California businesses away to their states. Two governors were very good at this: Jeb Bush in Florida, and George W. Bush in Texas. This is one reason why Florida was a swing state for the past 20 years, because of the influx of left-leaning tech workers.This is to say nothing of the revolving door of corporate entities moving from Silicon Valley and Southern California to places like Boston and the NY and Washington DC suburbs in an attempt to chase better and better tax situations. These corporate entities take a lot of their workers along with them, and that’s the primary reason why more college-educated workers leave.But California doesn’t experience a net loss. Births exceed deaths here more than in most other states. Immigration is at a high enough level and immigrants are at a high enough educational level to replace those workers who leave with their companies. And unlike the rest of the country, California welcomes immigrants and immigrant communities. You guys want to flee the state because you don’t think the quality of life is worth the price tag? Don’t let the door hit you on the way out. And don’t let those new places you’re moving to hit you on the way in either, because the if the culture shock doesn’t get you, the lifeless bland food will.I suspect the trend will continue. But we are seeing some reversals. Companies that had moved out before are moving back in, high profile examples being Websense and Teradata. But we lost Bowie knives and WD-40. Sad. Oh, no, wait, WD-40 is still here. Sorry.

What investment banks offer pre-internship programs?

All of them, or none of them--depending on what you consider to be a "pre-internship." Like many things: it's simple, but simple doesn't mean easy.Pre-internship Step 1:Work your personal and extended networks to identify people who are working in the job already. Talk to them. Take them out to coffee, try to pay for the coffee and insist they can pay the next time you meet up. Learn from them, stay in touch with them. Understand what they do and from time to time provide them with information that adds value to their job or to their life otherwise.Pre-internship Step 2:Create a LinkedIn page. A Premium account is very helpful but not at must. Make sure there are trigger words in your account Summary geared toward your target: "markets," "finance"etc. These triggers will ping your account when HR folks are searching for candidates. Get your Education and Work history up there. Make sure to use extra functionality to note Volunteer interests, Courses you took, and Projects you've participated in. Put a link to this profile in your email signature. Ask your friends with the job already to give you feedback on this accounts, and write Recommendations!Pre-internship Step 3:You're already reading the Wall Street Journal every day, and Financial Times when you have time, if your goal is banking. And Barron's on weekends. You're reading everything you can and have an opinion about where markets are going in equities, rates, currencies, and commodities. Doesn't matter if you're right but you have an opinion. You can speak about how political and macro forces and well as micro forces are going to move these markets. Start a blog and write thoughts down to keep yourself organized and share with others. As your friends for feedback on your new blog. Post the blog to your Linked-In page.Pre-internship Step 4:Pick a company in an industry that interests you and where you've had experience and try to see if there's a business or a part of a business ready for an investible event like an acquisition or divestiture. It would help if it's a public company as you'll have access to filings and audited numbers. These are available for free online through each company's Investor Relations page. It would also help if this is an industry like tech or healthcare that is growing and recruiting people like crazy.Pre-internship Step 5:Set up a Google Alert for news coming from this company and industry. Read industry periodicals--think "Industrial Lubricants Monthly" if you're looking at WD-40 (a great company, btw!). Especially if you're near a big city, see if there are industry trade shows in your area to attend related to your company. If your studying a consumer products or services company, buy the product or service! From different people, in different places. Ask shopkeepers and sales staff about the product or service. Listen carefully as this information can be incredibly helpful.Pre-internship Step 6:Read Wall Street analyst reports on your company or related company. These reports are sometimes difficult to obtain unless you have access to Thomson Investex, FactSet, or Bloomberg, but many public libraries (especially in cities) will provide access. These reports can be daunting, filled with acronyms, shorthand descriptions, and verbiage, but read them with Google open and learn, learn, learn them. Read a report from a reputable bank like Wells Fargo, Morgan Stanley or the like.Pre-internship Step 7:Begin to compose an analyst report. It would be great if this included a financial model, but doesn't have to IF you have really, really excellent/novel drivers, comparable company analysis, industry analysis, competitive positioning/ SWOT, and investment risk analysis. (btw there is excellent modeling templates and technical interview questions to prepare on sites like Macabacus, with lots [not tons] of good videos on YouTube) If you don't know any of those terms above, Google them. You can also Google student analyst reports being written by university business students to get an idea how yours should look.Pre-internship Step 8:Especially if you're without a valuation or financial model, the formatting and presentation of your report should be beautiful and immaculate. Don't skimp on this. Post this beautiful report on your amazing LinkedIn profile that you've been updating with blog posts and LinkedIn posts.Pre-internship Step 9:All the while you're writing this report, not only have you been keeping up with previous contacts in your network, but you've been asking them to set you up with friends or colleagues. You've been doing this politely and have been making a good impression and so your network has been expanding. Now your interviews are transitioning from informational discussions to "I have an actionable idea [your decent report] and I need your feedback on how to refine this."Pre-internship Step 10:Skip the job boards and very, very politely continue to network with people in areas where you know hiring is happening. You should now be pitching your ideas in discussion with contacts. You'll be rusty at first, and the report won't be very good. Have thick skin, get feedback, refine the report, go back and pitch again. As you gain confidence, you should be able to transition to: "I have an actionable idea [your increasingly-awesome report] and I need to find a place at a great firm with a great team and put this into use."--If the above is too much work? You're in trouble because bankers are pulling 80 hour work weeks and you could do the above gradually with 10 or so hours a week over several months. The most important part of what you're demonstrating by following the above? You're learning how to learn. That is, you can 1) teach yourself, 2) leverage resources creatively, 3) be consistent, 4) show passion... all the things that bankers are paid huge money to do.

I am very badly depressed now. I have lost hope. What should I do?

That's ok. Not a problem. You will get past this.Ten rejections, so what; you know the famous anecdotes that: "Angry Birds" was Rovio's 52nd attempt. WD-40 oil was so named because the previous 39 prototypes did not work. Overnight success equals hard work topped with unflinching determination!Within a couple of years you will look back and wonder why you let these minor things bother you. It does not matter how many companies say no, it only matters that one company (eventually) says yes. That simple. Don't get distracted from that reality.(FYI, someone who studied engineering in Ireland with me but did not graduate was working at Microsoft's European Software Center in Dublin within 18 months. Within 10 years noone cared whether he'd finished college. I work with several people who never even went to college - but they can code. Take the positive out of your college experience - what did you learn about yourself, your interests, your work style, your personality, your aptitudes? Which topics did you love?)I emphatically disagree with the others here that you should massmail your resume. Waste of time and it only annoys employers and gets ignored or maybe blacklisted. Well maybe you could get a crap short-term contract job with a really bad employer. But you can do so much better than that, unless you have urgent money pressures and mouths to feed, which you don't.So: Would you hire yourself today? Probably not. So just take a short couple of months to develop some mad skillz and put up an online portfolio (github, etc.), first. If your parents give you grief tell them Google/Facebook/whoever asked you to do a little interview portfolio for your application.So here is the guerilla attitude to jobhunting:Figure out your general area of interest. Mobile games? Messaging? Social media? SaaS? Databases? CAD? or whatever your heart desires (as long as there's some market).Get on Stack Overflow. Figure out the languages, packages and frameworks you should be using. (Tip: start looking at Django, flask, SQLAlchemy, celery, Pylons/Pyramid etc.)Download and watch videos from PyCon and other conferences. Better still, watch and discuss them at a user group meeting.Join your local Python User Group. If there isn't one, form it, already! Start a Newbie Night.Start writing code. Enter the online code-competition challenges StackOverflow, TopCoder, SPOJ, CodeChef, whatever. Use a pseudonym if you're shy. With StackOverflow, just lurk in readonly mode until you figure out your niche interest (subscribe to those), and learn StackOverflow's, ahem, robust culture. Subscribe to things like Quora: Competitive Programming: I want to devote 2 months to competitive coding. Which site should I devote most of my time to? Ask anon questions.Coding: Start at the basics. Where we all started. There is no shame. Keep at it. Every day a little more. If you are 'in the zone', then push yourself. Deploy your first Django site. Or whatever. Never ever ever give up [- Steve Jobs]. Believe in yourself when all around you don't. Your sheer force of self-belief is the fuel that will propel you to success and happiness.Start reading code. Quality code. The source code of top Python projects. As Raymond Hettinger advises. Learn good idiom. Volunteer with some open-source project. Tasks where volunteers are always needed: testing and documentation. So offer. Do a good job.Read good blogs; avoid bad ones. Both coder blogs, career, tech, marketing, whatever. Set time limits on this though.Make a LinkedIn profile. Doesn't need to list your univ experience. Just say something bland e.g. "four years coding Python, experienced with X,Y,Z". On LinkedIn you can add up to three links on your profile, so link to your best competition site profile, your github account and any portfolio site you might have. (As well as the main purpose, this drives SEO. Also, recruiters these days scrape or lurk on coder sites like that.)Avoid the majority of recruiters and recruiting sites. Subscribe to non-bullshit publications like Ask The Headhunter, JibberJabber.com, What Color is Your Parachute/ JobHuntersBible.com. You would find Keith Ferrazzi's Never Eat Alone inspirational. The distillation of all their advice is to apply directly to engineers/hiring managers, network your way towards that end, be genuinely grateful and altruistic, return favors. Always try to avoid applying through recruiters or jobs@company where avoidable. Ask a friend-of-friend for a referral.Self-appraisal: everyone has aptitudes, figure out what are yours? Take some tests, ask your friends, read blogs or biographies. Are you good at demystifying technical detail to non-technical people? Working in a team? or lone wolf? Skim through What Color is Your Parachute/ JobHuntersBible.com - it's #1 for a reason. Learn how to briefly explain your university experience, in an upbeat way that says what you learned.Generic tips on getting through trying times:Motivation, a daily routine, exercise and sleep, nutrition, taking breaks, pursuing other things that interest you, treat yourself regularly, surround yourself with a small core of supportive friends (avoid anyone who tells you you can't do it), stimulating yourself whether that's learning a language, climbing a mountain, yoga, archery, poetry, volunteering, mentoring schoolchildren or whatever. (You can beat depression. Challenge yourself by exposing yourself to new experiences and see what delights you. You will learn new things about yourself.) Like some people's brain does not switch on until a morning run and two cups of coffee. Other people are night owls. Mix your daily routine up: don't be sitting all on your own hunched up staring at a screen for 8+ hours a day, or you'll go f***ing nuts. Timebox your day, mix things up, break your routine, try working from other locations (library/internet cafe/etc.), factor in exercise and social stuff too, it is vital to recharge the creative batteries. Monitor yourself, your moods, your energy level, your productivity, the people you associate with, see what works and doesn't work, and adjust. Do not beat up on yourself. Stay positive. Read Tips and Hacks for Everyday Life. If some day your heart is not in it and you can't concentrate, or you're feeling down, then switch off and go do something energizing or relaxing. But come back when you're reenergized, whether that's an hour, a day or a week later.By now you are slowly acquiring skillz. Young Jedi. Start answering questions on StackOverflow. Present a nugget/ lightning talk/ tutorial at your Python User Group. Put video of it online. Review other people's code. Record a short video of yourself on LinkedIn/JibberJobber/whatever. Maybe you will find you are a gifted presenter. Or teacher. Or trainer. Or something else. Use Stack Overflow Careers 2.0, list your skills.Networking. Stay in touch with your classmates, friends, neighbors - some people will turn their noses up at you, who cares, they are no loss. Value the ones who stay in touch. Be a good friend. Go to user groups, conferences etc. (A good way to get to those free is to volunteer to do the unglamorous tasks like registration, administrative, gofer stuff). Join ACM and/or IEEE. Get active in local professional groups. Have a business card. Buy a domain name and distinctive email (just a little branding!) Pick more inspiring than [email protected]. Dot-com/dot-net/dot-biz can be gotten. Swap contacts/business cards/connect on LinkedIn, but only when people are interested and don't be a pest about it.Parents. Just. Don't. Understand. So only tell them about your successes (yea though they be little), like you got a phonescreen from company X, you ranked in the top 25% on coding competition Y, your online tutorial on Z got 10,000 hits. Filter out all the other stuff. Ask them to be supportive and have faith. Remind them about Steve Jobs and Angry Birds. And for God's sake don't let them fret about marital prospects. All in due course.And remember where would this highly-strung unemployed software guy be if he had closed the windows, pulled up the bedsheets, and let a few roadblocks just erode his sense of self:You can do it! Now come back and give us an update in 3,6,12,24 months!

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