Finding a job in the Finance and Banking Sectors in Europe: not a mission impossible

Finding a job in the Finance and Banking Sectors in Europe: not a mission impossible

Looking into the recruitment trends this year it appears that companies in the finance and banking sectors would remain rather conservative with regards to the hiring of new people, especially in Europe.

Although there has been quite some talk among professionals in the financial fields that institutions might be ready to hire, HRs insists that things are not going to be easy. Many predict that most of front office positions in investment banking will remain under a hiring freeze. While there might be some movement for employment in the middle office and back office staffing.

The main functions that banks and financial institutions would be looking to fill out would be corporate banking and regulatory specialists. Additional knowledge in the new and illiquid markets is of particular interest along with familiarity with new and changing trading legislation. Further demands would be that for creative and flexible project managers who to drive the necessary changes for the institutions to adopt a more modern and flexible business strategy. Other positions which would be sought after, according to credible sources, would be those of operation risk managers and OTC derivatives. Another void that needs to be filled is that of what is now referred to as "second jobbers" for operational positions.(A second jobber is the recruitment industry term used to describe university graduates with up to one or two years of industry experience.)

Other banks would focus on recruiting experienced personnel for their commodities desks as oil and gas seem to be regaining their market strength. The most extensive hiring programs this year in Europe in these fields are planned in Citi, Deutsche Bank, and UBS.

In essence, the job market situation with respect to the finance and banking sectors is not so gloomy. For example, Citi has recently announced plans to increase its investment banking franchise activities for the needs of which they would be searching for 20 senior investment managers in Europe alone along with double the number in junior M&A specialists.

The Growinfinance.com Team

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The BRIC countries and Africa offer competitive packages but lack qualified candidates

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