15 June 2015
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 Mitchell Peskin, Partner and Executive Vice President of The Execu|Search Group’s Financial Services division, this season is one of the best times to look for a new job in financial services. “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 Mitch. “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. In conjunction with this development, the Bureau of Labor Statistics reported in their May Jobs Report that the financial activities sector continued its upward mobility trend, noting that the industry added 160,000 jobs to the market over the past year. According to Mitch, this trend can be attributed to the improving economy and the changing world of finance. “Due to the strong economy and increased regulatory oversight, companies have an overarching need for professionals to help adapt to changing business needs, while pushing the organization forward,” he says. “As we move into the summer months, we expect firms to get more aggressive with hiring and opportunities to be plentiful for finance professionals across specialties.” 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 Mitch. “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, standing out against the competition, and ultimately receiving that coveted job. 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!