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Category: Salary & Benefits

Intern Lawsuits: Round Two

Consider the ball officially rolling: another intern is suing. Lucy Bickerton, a former intern at the Charlie Rose show, worked 25 hours per week, without pay. Her law firm, Outten & Golden (the same one that's representing Xuedan Wang's suit with Hearst), is hoping to turn the suit into a class action for all the show's unpaid interns as far back as March 2006. Read More >

4 NYC Firms Romney Wants to Buy

Tonight, in the 667th GOP debate in the past five months, the remaining Republican presidential candidates (Newt Gingrich, Rick Santorum, Ron Paul, and Mitt Romney) will be on hand in Mesa, Arizona, to give us yet another glimpse into the inner workings of the greatest political minds in America. And, earlier today, in anticipation of what's sure to be an extremely heated contest, Mitt Romney unveiled his latest plans concerning the personal tax rate. Read More >

The Other Problem with Unpaid Internships

It goes without saying that unpaid internships offer no salaries or benefits. But did you know that unpaid interns have no basic protections under labor laws? This is something a lot of kids learn the hard way. I certainly did. I once worked a completely unpaid internship for three months, mainly for one special reward:  a reference (upon successful completion of the internship) from the owner of the company, an influential film producer. Read More >

Are Unpaid Internships Fair?

Xuedan Wang, a former intern at Harper's Bazaar, worked for the magazine from August 2011 to December 2011. The position was full time, with hours topping out at 55 hours per week, but Wang received no payment for her labor. Now, the former intern is suing the parent company, Hearst, for a violation of federal and state wage and hour laws. Let's take a look at her case, and the current laws governing unpaid internships. Read More >

Life After Facebook's IPO

As early as today, Facebook is expected to file for an estimated $10 billion IPO. This means that the world's most popular and controversial social media company will soon be a public and extremely wealthy one. It also means that at least 800 million people (the number of Facebook users) are wondering what a post-Facebook IPO world will look like. The answer to that question (at least in part) is below. 1. The tech geeks will finally inherit the earth. Read More >

What Makes a Company a Great Place to Work?

Here at Vault, we've long been aware that, when it comes to choosing a place to work, money isn't the most important factor: firm culture is.* (The reason we know this: our annual surveys of employees at leading professional services firms around the world.) That raises an obvious question: if firm culture is so important to employees, what makes a great culture? Read More >

Do You Fit Into Google’s Culture?

According to an article in yesterday's Wall Street Journal, "Companies are increasingly relying on social networks such as LinkedIn, video profiles and online quizzes to gauge candidates' suitability for a job. While most still request a resume as part of the application package, some are bypassing the staid requirement altogether. Read More >

3 Myths About Private Equity

Given all the coverage of private equity now that former big-time PE investor Willard Mitt Romney (yes, Willard is his first name) appears to be the eventual GOP presidential nominee, I thought I'd clear a few things up about the industry. Myth #1: Private equity investors like to fire people-and, in fact, that's the main part of their jobs. Untrue. Private equity firms (and thus their employees) are simply in the business of making money. That's it. They're not out to slash jobs. Read More >

Before You Quit: A Checklist

Your New Year's resolution may be to do better work or feel less stressed at the office. But what if the only way to do that is to find another job? In a month rife with new beginnings, it may make sense to reevaluate your career and whether it's time for a change. Many of us, with our eye on a promotion or our 401ks, are surprisingly unwilling to move on, even if we're miserable. Read More >

New Year's Resolutions for Your Career

In just over a week, that ball will drop again in Times Square, and the timer on your New Year's resolutions will begin ticking. Sure, you could stick with the same old diet and fitness resolutions. But while you work toward a smaller waistline, why don't you consider another part of your life that needs an overhaul: your career. If you're stuck in a dead-end job, are hoping to change careers, or are unemployed, make 2012 your year for career success. Read More >

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