True when the phrase was first coined in the 1800’s by Jean-Baptiste Alphonse Karr and still true today. The Richest Man in Babylon written in the 1920’s leverages 4000-year-old parables that are still relevant. And now after 35 years of exposure to the financial services industry, I find within significant change, certain principles still hold true. Information that is not just relevant at a point in time, but are general principles that exist and have relevance in perpetuity. Having recently reflected on a “body of research” Zanetti Recruitment & Consulting completed in conjunction with Griffith University in 2016 and close to the completion of more valuable market research regarding new entrant pathways, there seems to be a consistency worthy of consideration. Below are two exerpts from the paper and my further comment. Excerpt 1 – Graduate transition into financial planning has been found to be difficult and expensive for both students and prospective employers: “It may take years for a new graduate to become worth more than an entry-level wage; therefore, the employer pays a wage in excess of the value actually contributed by the graduate. In addition, employers incur costs in the form of in-house training, certification and licensing, supervision, and turnover. Employers hope to recoup these expenses when the graduate becomes more productive by paying a wage that is lower than the value of the employee to the firm at that time, typically within two to three years. It is at this point that many employees leave their original mentors for greener pastures with employers more willing to recognize the current value of their newly acquired skills.... read more
