2017 Q1 Summary
Hiring has continued apace in 2017. In some ways, it feels like the market is leaning back towards the Sell-side for career advancing opportunities.
Buy-side hiring is idiosyncratic depending on the performance of each company, but the general trend is down as hedge funds continue to face headwinds. Eton Park Capital’s recent announcement that they are shutting down after a single down year is telling.
Peak in regulatory hiring
Hiring for regulatory related positions has been one of the few bright spots since the Credit Crisis. However, regulatory related hiring has likely peaked as much of the work has been done, and the current administration looks to roll regulations back. AML/KYC expertise continues to be in demand.
Web tech replacing C# for front-ends – it’s official
How to get ahead
Theo Epstein became baseball’s youngest GM ever at the age of 28 in 2004. He has since broken both Boston and Chicago’s championship curses. I thought this advice from Theo was incredibly insightful: "Whoever your boss is, or your bosses are, they have 20 percent of their job that they just don't like. So if you can ask them or figure out what that 20 percent is, and figure out a way to do it for them, you'll make them really happy."
What does it take to get hired by an ultra-exclusive group?
This article outlines the screening process and expectations for Goldman’s exclusive Strats group and touches on the financial rewards that can be realized by top producers in that group. In our experience, it’s quite accurate. Top hedge funds have similar if not higher expectations, and in some cases the process is significantly harder than Goldman’s.
Note that not all Strats groups are created equal. This article is required reading if you read the previous one.
I find it interesting that in 2017 to date, the response rate from Goldman Sachs employees to our LinkedIn outreach far and away exceeds that of any other company:
Have you thought about doing something else?
We’ve commented many times that the market is very difficult for mid-senior technology managers in capital markets. An executive director at a major Japanese bank was recently downsized. The first thing his outplacement consultant asked him was, “Have you thought about doing something else?” This segment continues to be extremely challenging.
- Senior data web apps developer
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- Java developer, Securities Lending – Contract