eFinancialCareers

Fluctuating stockmarkets might be fortuitous for equity strategists, who advise traders on the future direction of the market. But their star – in terms of jobs and pay – hasn’t risen yet. Edmund Gill, executive business director at recruiter Hays, says there is always demand for strategists, and the recent gyrations of global stock markets haven’t made much difference. "Everyone’s looking for direction – there is so much hunger for future... Read more

Tied in to your existing employer? You’re not alone. A survey conducted by Ernst & Young has found leading employers are opting to defer the payment of short-term incentives such as bonuses in a bid to keep their best executives for longer. The survey found that 40% to 50% of larger companies, including banks and financial services groups, were now likely to defer bonuses – which in the case of leading investment... Read more

Oz banks are tuning in to the need to woo different generations of staff in different ways. St. George Bank, one of the country’s largest retail banks, is among those pandering to generational idiosyncrasies. It recently unveiled an enhanced set of benefits tailored for its Generation X, Y and Baby Boomer employees. Who got what? For Generation X, said to be those born between 1961 and 1978, there was extended parental leave,... Read more

Professional women who have chosen to opt out of the workforce to have children have long wished they could ease themselves back into professional ranks through part-time or short-term consultancy work. It seems that employers in the financial services sector are finally coming to the party. Ben Derwent, managing director of recruitment firm Derwent Executive, says banks and accountancy firms, in particular, are looking to bring in people on a short-term... Read more

What makes working for Goldman Sachs (or Goldman Sachs JBWere) quite so lucrative? Here’s our verdict… 1. It makes more money. Net revenues per head in 2006 were US$1.4m (AU$1.8m). This compared to US$678k at Lehman Brothers, for example. At 43.7% as a proportion of revenues, compensation costs were lower than at most other banks on the Street (shareholders are not being fleeced). 2. It works on bigger... Read more

Do you want next year’s bonus ahead of time? Hiring banks are said to be increasingly willing to buy out the bonuses of the staff they’re hiring. Given that US banks have only just paid out their bonuses, it may be a little early in the year for US bank employees to have their bonuses bought out for the whole of 2007. But if you work at the likes of Mitsubishi... Read more

Australia’s banks are trying to make new recruits feel at home as quickly as possible, for fear of losing them to homelier rivals. It’s known as ‘onboarding,’ according to Trevor Bradley, regional director of the recruitment firm Chandler Macleod, and is intended to convince new hires they’ve made the right choice. How can you tell if you’re being onboarded? Bradley says the process is all about integrating new employees into an organisation’s... Read more

“It’s a black art," says a banker who doesn’t want to be named. “Propeller heads," says a recruiter. Quants really know how to frighten people. It’s no wonder when you see the job specs: “Strong mathematical/modelling skills, theoretical mathematical concepts, excellence in numerical techniques, derivatives modelling, discriminant analysis." And these jobs are breeding. “We’ve got heaps of quant jobs," says Emma Cassidy at recruiter Bluefin. "They’re mostly for risk management in investment... Read more

Macquarie Bank, Australia’s biggest recruiter in the banking and financial services sector over the last few years, doesn’t expect to slow down its hiring boom at all in 2007, although it does admit that competition for staff is toughening up. The Sydney-based bank has added another 1,200 staff in the past 10 months, taking its total to 9,400, nearly double the number of just three years ago. Its international numbers have quadrupled... Read more

With banks only recently dishing out big bonuses, the next downturn may be the last thing on your mind. But is this really wise? It wasn’t that long ago that economists were predicting there would be a slip in 2007, and some bankers may be wondering how long the good times will last. The word from recruiters is that if you’re on the debt side of the employment ledger, assessing credit and... Read more

‘Ask and you shall have’ is becoming the mantra for banking and finance employees, as major banking groups agree an increasingly broad range of perks in a tight labour market. The extended offer spans everything from hot-desking to home working, but is particularly focused on the requirements of new parents: increased maternity leave and 'baby' incentives – including gift certificates, share options, and straight cash – are all the rage. NAB, ANZ,... Read more

It’s bonus time for many investment banks in Australia, and that means it’s poaching time as well. As the very top performers form a queue outside the Ferrari dealerships of Melbourne and Sydney – looking for ways of spending their AU$2m-plus bonuses, banking recruiters say others who might have been disappointed with their payment are more likely to be dusting off their CVs. “Around this time of the year, you’ll see... Read more

Thinking about finding a new job? One headhunter shares his tips on how not to go about it. Rule 1: Money isn’t everything “Make a move for the right reasons,” says Kevin Yeung, a search consultant specialising in real estate, private equity and hedge funds at the Whitney Group in Hong Kong. “Executives need to carefully consider why they’re going and to spend quality time really evaluating what they hope to... Read more

Time to move East? Financial services jobs and pay in India are soaring. “The market here is on fire,” says Ronesh Puri, managing director of the New Delhi office of search firm Executive Access. “Salaries are rising anything from 30% to 40% a year – it’s not unusual for someone to receive two, or even three pay rises in a 12-month period.” Goldman Sachs recently announced plans to grow its Indian broking... Read more

The lure of high-paid, tax-free work in Dubai is proving too much to resist for some Australian bankers. It’s a long way from Australia to the Middle East, but Rick Jansz, BSI People managing consultant for IT and financial markets, says candidates who might previously have moved to Asia are now considering Dubai, thanks to alluring pay and the range of jobs on offer. Tax-free packages of US$250k plus bonus are... Read more

Ever wanted to go back and work somewhere you’ve worked before? Australia’s banks and accounting firms are implementing corporate alumni programmes. In current tight market conditions it’s all part of a move to regain employees who’ve left to work elsewhere. “Mature-age people might leave a job for another opportunity or a change of environment, but may later be willing to consider a return to the security and rewards of a familiar role,”... Read more