New York, NY, March 19, 2010 --(PR.com
)-- With continued uncertainty in the Structured Products field this may be one area within the banks still considering layoffs. One Structured Product professional has used his talent to structure trades to make a deal on his future.
Taking time off to complete a Masters in Banking and Regulation James Ferris hopes to cover the cost of his tuition by selling an option to a major bank to hire him at a fixed cost after the completion of his degree.
On his blog (optiontohireme.blogspot.com) he describes the process he plans to carry out to attract a suitable bidder.
"Before preparing to take a year out to study Law (the Law of Structured Products no less) I am selling one last option. The option to hire me in September 2011 for the bargain base salary of the Average New York Workers salary at the time of execution. Not the average bankers salary, lawyers salary, exotic structured sales specialist salary... but the wage the average New Yorker gets paid (as defined by the Bureau of Labor Statistics.) Full term sheet and prospectus (CV) on request. Backtesting (References) and Scenario Analysis (Interview) also available to interested parties."
Options to buy are common in financial markets. One party may offer a second party the option to purchase a stock at a set price at a future date. In return the option buyer pays an upfront Premium to the seller.