Daedalus_IHB
New member
Sorry to hear USC. I'm wondering how helpful the Marshall CRC is for alumni. Maybe shoot Pete an email?
How secure is your job?
- Thread starter stepping_up_IHB
- Start date
NEW -> Contingent Buyer Assistance Program
One of the wonderful things about living and working in CA is the lack of enforceability of non-compete agreements.
No, $450 is the max weekly for CA UI.
Do you have a compensation agreement that indicates you must be employed as of a particular date in order to be eligible for those bonuses SC? Many companies work enough language into comp agreements that they can get away without paying incentive bonuses upon termination.
Here's a link to the DLSE claim formif you need it. I have gone up against employees trying to collect on bonuses a few times and prevailed at each occurrence...
Good luck IPO. Sounds like whatever goes down you have the skillset to land on your feet.
Computer Science
If IPO goes down, I'll offer him a job to come over to my house and throw darts at stocks with me. Bonus if winners are picked.
http://www.speedysigns.com/images/decals/jpg/H/41/752.jpg
Then after market closes, he can join me and my Russian mobsters by lining up the CEOs of Bank of America, JP Morgan, Wells Fargo, Goldman and definately Lehman Bros. Bids for trophies start at $1.
http://rds.yahoo.com/_ylt=A0S020nAV...ttp://www.partytimeleisure.co.uk/stocks_2.jpg
Just my opinion of course, but I'd recommend the MBA over another computer degree. Being able to combine a technical degree and a general degree helps separate you from the crowd. Very few people can hop between a broad view of the world and the nitty gritty details. Getting two technical degrees in the same basic subject area really doesn't demonstrate a diversity of skills.
For the record, my undergrad is in Computer Science and I have an MBA with a concentration in Finance. It's worked well for me.
Having no comp agreement memorialized in writing could either help or hurt you... The burden will be on you to prove you earned that compensation. If a group/number of you were termed at the same time and no one got paid out, you could go with a joint suit to save on legal costs if the DLSE showed you no love.
Our agreements stipulate that you must be employed at the time of payment and the agreements stipulate the payment cycles, i.e. bonuses for Q3 are paid on the first payroll of the month following the close of the quarter. The agreement also indicate that the bonuses are discretionary and incentive-related and that the plans can be modified at any time by the company. We use that to differentiate the payments from wage compensation. If fundamentally everyone that does what you do works under a similar plan, it could probably be fairly easily argued that these type of compensation is regular, routine, and wage-like.
I can recommend a good employment attorney or two if you look to retain one. I have used them to represent me our company against terminated employees and I'm sure they work the other side of the complaint as well.
Rationalization of drug laws would knock the prison/law enforcement industrial complex on its ass.
Not bloody likely, but just envisioning how it could happen.
I have the MBA/Eng/IT combo. It's good, but I think the choice really depends on what you want to do.
If you are gearing to a VP/head of Engineering role, the MBA may be better. If your heading more CTO/Architect the MS-Eng
If you haven't already done management or don't like it, skip both programs and just focus on in demand skill training.
Both IT and Engineering are becoming more and more skill centric. Good skills in OOPs technologies or ERP platforms will open 100:1 opportunities at the $100K+ range to you compared to an MBA/MS.
While the high end for the MBA/MS runs higher, it's at the expense of opportunities and longer transition periods.
I got my MBA and it was a complete waste of money being flushed down the toliet. My opinion of course differs for other professional degrees like JD, MD, Masters in Engineering, and a CPA, which i consider REAL professional degrees and certificate. I wish that I had been smart like IPO and put that $60,000 of worthless MBA tuition towards a down payment of a detached condo in Irvine back in 2001. Better yet, put that $60,000 as seed money for pursuing your entrepeneurial ventures. Oh well, there is nothing i can do about my past, and only do my best to make the right choices for the future.
biscuitninja_IHB
New member
USC,
sorry to hear the troubles.... I'm sure there are opportunties for good guys like you. Now... maybe we can put together a loan company? :lol:
-bix
sorry to hear the troubles.... I'm sure there are opportunties for good guys like you. Now... maybe we can put together a loan company? :lol:
-bix
usctrojanman29_IHB
New member
Thanks for all the support guys. The writing was already kinda on the wall since we essentially stopped lending since the end of September so it didn't come as complete shocker. The first thing I did was file for unemployment after I got home. Are the maximum weekly benefits $410? They did not pay me the bonus that I earned for booking over $40MM in loans this year so I will be visiting the Labor Board.
Here's the interesting thing, I have a significant book of business (strong clients who need loans and will bring over deposits with them) that I can bring with me to another Bank/Lender. There are a few strong banks out there that I will be knocking the door on. Also, one of my clients mentioned to me that he's got some contract work that he can give me if I need it. I told him that the plan A is to knock on the doors of these decent banks so I can get his loans funded and I'll take him up on his offer if Plan A doesn't work out.
Here's the interesting thing, I have a significant book of business (strong clients who need loans and will bring over deposits with them) that I can bring with me to another Bank/Lender. There are a few strong banks out there that I will be knocking the door on. Also, one of my clients mentioned to me that he's got some contract work that he can give me if I need it. I told him that the plan A is to knock on the doors of these decent banks so I can get his loans funded and I'll take him up on his offer if Plan A doesn't work out.
ipoplaya_IHB
New member
usctrojanman29 said:
One of the wonderful things about living and working in CA is the lack of enforceability of non-compete agreements.
No, $450 is the max weekly for CA UI.
Do you have a compensation agreement that indicates you must be employed as of a particular date in order to be eligible for those bonuses SC? Many companies work enough language into comp agreements that they can get away without paying incentive bonuses upon termination.
Here's a link to the DLSE claim formif you need it. I have gone up against employees trying to collect on bonuses a few times and prevailed at each occurrence...
OC_Boston_Bay_IHB
New member
ipoplaya said:
Good luck IPO. Sounds like whatever goes down you have the skillset to land on your feet.
OC_Boston_Bay_IHB
New member
WINEX said:
Computer Science
jbenko_IHB
New member
Boston2theBay said:
If IPO goes down, I'll offer him a job to come over to my house and throw darts at stocks with me. Bonus if winners are picked.
http://www.speedysigns.com/images/decals/jpg/H/41/752.jpg
Then after market closes, he can join me and my Russian mobsters by lining up the CEOs of Bank of America, JP Morgan, Wells Fargo, Goldman and definately Lehman Bros. Bids for trophies start at $1.
http://rds.yahoo.com/_ylt=A0S020nAV...ttp://www.partytimeleisure.co.uk/stocks_2.jpg
usctrojanman29_IHB
New member
There is no official compensation agreement for the commission bonuses )so there's nothing in writing stating that they wont pay a bonus out if there is a termination before the bonus payment date) but they are basically 10% of the loan fee income that bring in to the bank including extension fees. So if you bring in $250,000 in loan fees in 2008, the $25,000 bonus will be paid the second week of January 2009. From the two people that I spoke to, including one that went up again LaSalle Bank for shafting him on his bonus and winning, suggested that I get a lawyer and go after what I'm owed. The timing of the termination seemed fishy.ipoplaya said:
Boston2theBay said:
Just my opinion of course, but I'd recommend the MBA over another computer degree. Being able to combine a technical degree and a general degree helps separate you from the crowd. Very few people can hop between a broad view of the world and the nitty gritty details. Getting two technical degrees in the same basic subject area really doesn't demonstrate a diversity of skills.
For the record, my undergrad is in Computer Science and I have an MBA with a concentration in Finance. It's worked well for me.
ipoplaya_IHB
New member
usctrojanman29 said:
Having no comp agreement memorialized in writing could either help or hurt you... The burden will be on you to prove you earned that compensation. If a group/number of you were termed at the same time and no one got paid out, you could go with a joint suit to save on legal costs if the DLSE showed you no love.
Our agreements stipulate that you must be employed at the time of payment and the agreements stipulate the payment cycles, i.e. bonuses for Q3 are paid on the first payroll of the month following the close of the quarter. The agreement also indicate that the bonuses are discretionary and incentive-related and that the plans can be modified at any time by the company. We use that to differentiate the payments from wage compensation. If fundamentally everyone that does what you do works under a similar plan, it could probably be fairly easily argued that these type of compensation is regular, routine, and wage-like.
I can recommend a good employment attorney or two if you look to retain one. I have used them to represent me our company against terminated employees and I'm sure they work the other side of the complaint as well.
effenheimer_IHB
New member
Trooper said:
Rationalization of drug laws would knock the prison/law enforcement industrial complex on its ass.
Not bloody likely, but just envisioning how it could happen.
graphrix_IHB
New member
Man... this is starting to suck. It sucked when I watched two rounds of layoffs of friends at the builder I worked for. It sucked even more after each, and several subsequent phone calls about more layoffs. Now it sucks even more, that I am seeing more and more IHBers getting laid off. I know that I should have been prepared for it, as I have been ridiculed as a pessimist for nearly two years on warning about the underlying weakness in OC's job market. But, deep down I wish those who ridiculed me were right, and they could continue to ridicule me today. I really didn't want this to happen. I just saw what I saw, and I wanted to warn everyone to prepare for what I thought I saw. My only hope is that some did prepare themselves, regardless of whether they believed me or not. No one likes to be wrong, but being right can suck even more than being wrong.
Trojanman, so sorry to hear the bad news. You seem like a sharp guy, and it is the bank's loss, not yours. It sounds like you are already lining some things up, but don't forget to tap your alumni resources. I mean, that is what 98% of your tuition was for anyway.
Trojanman, so sorry to hear the bad news. You seem like a sharp guy, and it is the bank's loss, not yours. It sounds like you are already lining some things up, but don't forget to tap your alumni resources. I mean, that is what 98% of your tuition was for anyway.
OC_Boston_Bay_IHB
New member
WINEX said:
OC_Boston_Bay_IHB
New member
Thanks WINEX. I agree for today but was thinking the MS Eng may have more future value if our economy undergoes the transformation many are predicting.
No_Such_Reality_IHB
New member
Boston2theBay said:
I have the MBA/Eng/IT combo. It's good, but I think the choice really depends on what you want to do.
If you are gearing to a VP/head of Engineering role, the MBA may be better. If your heading more CTO/Architect the MS-Eng
If you haven't already done management or don't like it, skip both programs and just focus on in demand skill training.
Both IT and Engineering are becoming more and more skill centric. Good skills in OOPs technologies or ERP platforms will open 100:1 opportunities at the $100K+ range to you compared to an MBA/MS.
While the high end for the MBA/MS runs higher, it's at the expense of opportunities and longer transition periods.
PANDA_IHB
New member
Boston2theBay said:
I got my MBA and it was a complete waste of money being flushed down the toliet. My opinion of course differs for other professional degrees like JD, MD, Masters in Engineering, and a CPA, which i consider REAL professional degrees and certificate. I wish that I had been smart like IPO and put that $60,000 of worthless MBA tuition towards a down payment of a detached condo in Irvine back in 2001. Better yet, put that $60,000 as seed money for pursuing your entrepeneurial ventures. Oh well, there is nothing i can do about my past, and only do my best to make the right choices for the future.