With the pandemic behind us, we’re seeing an enormous demand for jobs across the board in the hedge fund, private equity, and asset management space. If you are a finance professional contemplating making some sort of career change in the near future, don’t let your job search fall to the wayside now that summer is here! Why? According to Paul Herman, Vice President of The Execu|Search Group’s Financial Services division, there is no better time to capitalize on the demand for talent in the marketplace than now.
“There’s a common misconception amongst finance professionals that summer is not the right time to look for a job, however, this simply isn’t true,” explains Paul. “We actually expect this season to be one of our busiest ones in terms of job orders from clients across the industry. As a result, whether it is a buy-side or sell-side opportunity you are looking for, candidates who start taking their search seriously during the summer months can actually create a powerful competitive advantage over those who have a more relaxed attitude.”
In fact, over the past couple of months, The Execu|Search Group’s Financial Services division has experienced a significant uptick in demand for candidates across the sector. “The current demand for talent within the alternative space outweighs the supply, resulting in strong offers and competitive compensation packages,” says Paul. Candidates who take advantage of the market this summer will have multiple opportunities to choose from, and can take their time to make a career decision that aligns with their long term goals.
In other words, if you are even contemplating making a job change within the next 6 months, now is the best to start exploring your options. “Being proactive doesn’t necessarily mean that you have to make a move if you aren’t ready to,” notes Paul. “It does, however, allow you to understand your value – a key aspect of remaining competitive in today’s evolving financial services landscape.”
Another factor to take into consideration is that as summer winds down, finance professionals who believe the myth that hiring is not a priority for firms during the summer will begin to pick up their searches again, en masse. At that point, it will be much more difficult to distinguish yourself from other professionals with similar backgrounds. On the other hand, if you deviate from this trend and start interviewing while others haven’t even begun to think about it, you will have an easier time landing interviews, and ultimately more options to choose from.
If you’re in the market for a new job, don’t get lured into a false sense of security that major hiring decisions won’t be made until September, or even the new year. While other job seekers might be taking a summer vacation, ramp up your search and leave your competition at the beach!