I’ve noticed an uptick both in client work and taps from recruiters and interviews recently that seems to be more than just seasonal. I’m wondering if anyone else has noticed this. It seems to be the first time since the financial crises when it feels like the market for employment is truly gettting less glacial.
I’ve been wondering the same thing. From what I’ve seen, I would characterize the improvement as being modest but steady. It’s encouraging for people that are looking to get into front office roles. There’s been a slight improvement in hedge fund hiring activity, but a more noticeable improvement in sell-side roles.
3 recruiters hitting me up last 4 days. i really hate them btw lol shady fuks
That’s because many SS shops have been screwing people so much on comp. that people are realizing it’s not worth it, and quitting or exiting to industry jobs that basically pay about the same with far better work/life balance.
^ Interesting insights. From what you’ve seen, how much did bonuses decline y/y vs. last year? Any insight into what that would look like at coverage analyst level (VP) vs. associates? Based on the data points I have, discretionary comp was basically flat – not that it was great in 2012 but didn’t sound like things had gotten materially worse. However, one thing that does come up a lot is that teams are being asked to do much more, i.e. roll out more aggressively on coverage while basically getting similar comp packages.
Recruiters hit me up like cray, some are good, some are so shitty.
some assclown keeps calling me at wrok. how freaking unprofessional is that
I’m in Minneapolis and it seems like the job market is definitely loosening up. Lots of linkedin contacts in finance are showing upward mobility the last couple months. I finished an MBA program in December and after my review in February had put out some feelers. So far I’ve gotten more calls and done more interviewing than previous attempts, but I’m not sure how much of that is opportunity and how much is a marginal increase in the attractiveness of my experience/education. I’m currently seeing more openings posted internally than I have in a long time, and my wife, working at a competitor sees the same thing. Working in asset management for a bank with a huge retail arm it’s tough to know the exact state of the market. Our AM group is killing it, retail banking, consumer lending, not so much.
Judging by history, we should see the same north of the border in 18 months (“the rest of the developed world employment lag index”).
bad time to be going back to business school? hope it improves even more by the time I graduate 
^ You can’t time things like that. Do what you feel is necessary.
Yea, I’m pretty set on going anyway. I think it will help me down the line… hopefully I get lucky during recruiting time and an improving economy would help.
cfa > mba
Recruiters seem to be bugging me more often lately wanting to talk about IB as well as corporate jobs. No thanks. Good for now… I noticed on my linkedin just now, 5 views in the past 2 days - all from the blocked/anonymous people.
I think I have noticed more turnover within my linkedin network as well. Some long tenured people at several companies have made moves, many of them promotions (at least better titles). It could be confirmation bias, but I think I notice what bchad and others are talking about. I hope so!
I have this same problem, only I call the people co-workers.
Since the start of the year, seeing a very modest seasonal uptick in inbound employment inquiries in the hedge fund inustry, but everyone seems to be trying to lowball on comp. For example, I had a headhunter call me about a job that I had interviewed for a couple years ago that recently became open again, and the employer had really liked me and had asked the headhunter to reach out to me.
I said I was happy where I was but would entertain a conversation if they could guarantee a total comp that would be 1.33x my current comp. the headhunter goes “that’s crazy, no one is going to pay up that much in this market for a lateral move.” I reiterated my comment from two seconds earlier where I was happy where I was and had no interest in moving for a nominal increase in salary. I thought it was hilarious that they thought they could lowball me out of a good, secure job and expect me to jump at the privilege.
The epilogue to the story was that my year end bonus was an upside surprise that ended up getting me to that 1.33x number anyway. So now if anyone came calling my new price would be 2x; as far as i’m concerned, the onus would be on the market to catch up with my comp, not the other way round.
^ That usually happens in an employee market, where employers are forced to fight with others and raise their payroll.
I’ve noticed the same thing with people I know all over the country.