Attracting and securing the best talent in a competitive financial sector can be a headache with many variables to consider. Any number of potential challenges could prove to be barriers to your recruitment process, not least the potential impact of ‘bonus season’.
Here are some key pointers to factor in when looking to identify targets in the investment banking sector.
Get your timing right
Depending on which bank(s) you’re hoping to recruit from, you’ll need to ensure that your timescales are correct.
In order to recruit effectively, you’ll need to have conducted the appropriate research on when their bonuses are paid.
Obviously this is complex and time consuming to confirm, so it’s advisable to retain a search partner to free up your resources.
This level of specialist support will provide you with the precise information on the best times to recruit in relation to bonus season.
Ideally, you should start your process up to six months before this, depending on the typical length of your recruitment proceedings.
Know the numbers
Obviously, as a precursor to opening any negotiations or even introductory communications, an idea of your potential candidate’s remuneration helps.
This information may include what the bank’s bonus structure looks like, average payments and how these are paid.
You’ll also want to know the typical salary levels in the organisation you’re hoping to recruit from.
In particular, as accurate as you can be about less senior positions (from analyst to associate), the better informed you’ll be during the initial interview stage.
To gather this information (and be confident in its validity) can take considerable time and expenditure, especially if you’re hoping to recruit from multiple banks.
But you can conserve your resources by entrusting this fact finding to an experienced search organisation with a proven track record.
And of course, there may even be a chance that your retained recruitment partner already has access to such data due to previous undertakings.
Want to learn more?
Targeted recruitment from the investment banking sector (especially during bonus season) is a specialist and often intricate process.
While there are always going to be numerous factors involved in whether your efforts bear fruit, unsurprisingly the two most important are timing and money.
By retaining a search partner with relevant expertise and experience, you can access advantageous information on the timescales and totals involved.
If you’d like to talk about your business goals or ask any questions, please contact us today.