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Recruitment review

Date: 01 May 2009

As we progress into Q3 (already!), we are definitely seeing a turning of the worm within financial recruitment. The big tangibles… Goldman’s proof that bonuses are not dead forever, increased activity across the market, including the so called ‘worst hit’ institutions, and HR teams are once again concerned with managing growth not ‘consolidation’. It is clear that we are still a considerable way from the bull markets of 2007, however encouraging signs are burning brightly that signify a positive outlook for candidates looking to advance their careers. Compensation being offered is competitive once again, with bonus expectations in most institutions a lot healthier than we have seen for some time. High calibre candidates able to add value are being snapped up, and there exist some really exciting opportunities to join teams that have benefited from the ‘trimming’ that has occurred. Evidence of this extends beyond the just Banks, with funds, private equity and VC now all looking to bring on board people that can help them take advantage of emerging opportunities in the new world of finance. There seems to have been a strong shift in the talent pool currently exploring opportunities in the market as well. The volume of people ‘looking for a job’ is not nearly as prevalent now, with a greater proportion looking intelligently at how they can ensure they are in the right role, in the right team, in the right location and in the right institution. There is not doubt that the market and sentiment has changed considerably, with a far greater focus on quality than volume amongst employers, and this is good news for candidates who are looking to be pioneers of new growth.

Tagged In: Selby Jennings
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