It seems that we are very close to good times of getting hired by financial industry. Many of my friends (and I - as you remember I started in BarCap) found good jobs in recent months (in CS, Sig, MS etc). Many companies are still very cautious (JPMorgan in particular), but the the situation is definitely getting better (especially in NYC)...
I definitely think that 2010 will be a good year to be hired in good job in Financial Services. For me really good hiring atmosphere will come if S&P500 goes up by10 more percent - people will then get confidence that the recovery is sustainable.
It seems that particularly good demand will be there for junior and mid-level hires. The season for MD hiring is already there - hiring at the junior end needs to catch up.
I also think that this is a very good time to start with MBA or CFA. If you do this at this stage of the economy you maybe almost sure that by the end of the program you will enter the hot job market and you would be able to get a decent return on your educational investment .
My (subjective) timeline of hiring:
If you agree with this expectations or your don't please discuss in comments.
I definitely think that 2010 will be a good year to be hired in good job in Financial Services. For me really good hiring atmosphere will come if S&P500 goes up by10 more percent - people will then get confidence that the recovery is sustainable.
It seems that particularly good demand will be there for junior and mid-level hires. The season for MD hiring is already there - hiring at the junior end needs to catch up.
I also think that this is a very good time to start with MBA or CFA. If you do this at this stage of the economy you maybe almost sure that by the end of the program you will enter the hot job market and you would be able to get a decent return on your educational investment .
My (subjective) timeline of hiring:
- 2Q-3Q 2010 - Hiring in M&A divisions of investment banks.
- 3Q-4Q 2010 - Hiring in Equities in Banks that didn't rebuild their Equity Groups yet
- 4Q 2010 - Hiring in Wealth Management Divisions
- 2H 2010- Hiring for Emerging Markets roles
- 1H 2011 - Restaffing of Hedge Funds and Private Equity Companies
- 2011 - Poorer year for Fixed Income Markets
If you agree with this expectations or your don't please discuss in comments.
7 comments:
i m a student of cfa level 1. READING YOUR COMENT ON CFA I M VERY HAPPY TO LEARN THAT i HAVE SELECTED A RIGHT OPTION FOR MYSELF.
thats very timely.
I'm graduating from an MBA program at UCLA and actually considering expediting graduation by 1 quarter so i can focus solely on looking for a job.
I've also just started CFA prep classes for the June level 1 exam. I'm interested in macro trading/investing funds, lets hope I don't have to wait a year to find a job.
hi there, i am currently in my final year undergrad degree in commerce and i am now thinking if i should skip honors and do CFA. Can u provide me with some advice? thanks!
Hi.. I just rolled into your blog from somewhere and found it to be very useful for me.Thanks for that.
I have a few questions which could be answered only by an experienced yet experiencing person like u. I am a BA english, who is currently doing MBA. I will finish the course by Sep and planning to take CFA in December... What do u think about this decission? I want to be a financial analyst. so Is CFA a good option?.... I have no experience in this section so what will be my job opportunities after Dec..what kind of roles should i apply and what will be the salary range.... Please advise... thanks so much..
Hi, I am an IIT graduate with 4 year of technical experience but I am thinking of switching to finance as career. Plausible options which I have thought are MS in Fin + some work exp + mba /Phd in fin. / MS in fin+Phd in economics. I have excellent grades and planning to write GRE in Aug 2010. I just want to know about possible options after completion of studies in above subject and scenario of scholarships.
I am doing B.com computers, what would be the next best choice mba or m.com?
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Great Post!
Thanks..
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