13 February 2015
The beginning of 2015 has brought frigid temperatures and inclement weather, and while many companies within the Financial Services space are still fine-tuning their hiring budgets on top of outlining new business initiatives, many financial professionals are choosing not to pursue new opportunities as they await their much anticipated bonus. While the early months of the year are historically slower in the Financial Services industry, Mitchell Peskin, Partner-Executive Vice President of The Execu|Search Group’s Financial Services division, sees this as the perfect opportunity for financial professionals to jumpstart their job search before Q2 and get their foot in the doors of prospective employers while there is less competition in the market. “As a financial professional, it can be easy to sit back and countdown the days until you receive your bonus before jumpstarting your job search,” says Mitch. “However, time and time again, I’ve seen job seekers have the most success landing interviews when there is less competition in the market.” Therefore, waiting until Q2 to start your job search will automatically put you in a larger talent pool, thus making it more difficult to stand out against your competition. “Don’t let your job search go into hibernation mode—take advantage of the current marketplace and stay ahead of the curve by starting your job search before Q2 is in full swing,” advises Mitch. It’s understandable to be apprehensive to start your job search around this time of year because you don’t want to risk losing out on your bonus simply for pursuing new opportunities. Luckily, companies have taken notice of this trend by job seekers and are utilizing new hiring strategies to attract seasoned financial professionals. “An increasing number of companies are aware of the risks associated with looking for new opportunities and are prepared to make up for these through offering extended start dates,” highlights Mitch. In other words, prospective employers are willing to work with your schedule to ensure you can still receive your bonus with your current employer and make a smooth transition into your new role without burning bridges. Avoid the steep competition in Q2 and increase your odds of landing your next opportunity by doing your due diligence now (i.e., upgrade your resume, brush up on interview skills as well as the technical skills most in-demand in your industry, network with the right professionals, etc.) to position yourself ahead of the competition. If you take the time out now to get your job search on track, when you receive your bonus and an offer, you’ll be glad you beat the Q2 rush!