Has anyone looked at jobline lately? Seems there are pretty slim pickens… even the postings in the financial hubs look sparse (only 9 listings in NY?).
Now that I have the charter and somewhat decent experience, I’m hoping to switch jobs and relocate in the next 7-12 months. I hope this is not a true reflection of the hiring, and things improve… especially for those more urgently looking
Speaking as someone in a similar situation and who has lived their entire life in NYC, the job market is absolutely horrid. The only transitions I’ve heard of are folks who are already in and are getting offers from competitors (e.g, GS to MS) or kids going through campus recruiting. Prior experience pretty much trumps everything else at the moment.
This is true. We are in a long-term secular bear market for high finance jobs. It is not going to get better any time soon. Now is one of the worst times in history to be trying to break into the industry. Sorry for the bad news, but that’s the reality. I know some very highly skilled people with great experience at top firms and they have trouble moving around right now – several in fact. Between election year + SEC registration for hedge funds + Europe + generally shitty low volume market, not that many funds are doing a lot of hiring at the moment.
You also have a historically high imbalance of supply vs. demand for these jobs with many laid off people trying to get back in. It wouldn’t be uncommon to post a new job offering for a buy side firm and see 400 replies within the first 12-24 hours. The industry is shrinking and there’s going to be more blood on the floor before it stops.
It’s possible, but you will have to be dedicated and patient and lucky.
Don’t you have to pay for jobline? I seem to remember trying to look at it but losing all interest when it started talking about dollar charges
It’s free if your charter is active.
The industry has been contracting for 5 years now. If you have friends still studying, encourage them to study in a more promising industry.
^^
That’s the problem though, what industries are there that pay well and don’t require deep background in science/engineering/medicine?
Jobline is good though. If you have the money, you should exhaust that opportunity. LinkedIn is also good.
A lot of techy stuff does not require a deep engineering background.
But I think the question is not that relevant anyway. Success on the buy side is harder than any of the categories you mentioned except very high end theorhetical science / research. It’s not the concepts in finance that are killer, it’s the breadth and the obscurity in applying them in real world situations with millions on the line.
Sure success on the buy side is hard, but apart from the guys who are trying to make megabucks, even low to mid tier finance jobs (think working at an RIA or investment consulting) can be quite well paying compared to other industries, like say engineering.
I agree, running a successful RIA is can be very lucrative. My (poorly phrased) point was that success in finance requires a deep / broad understanding too even if some of the math in science / engineering is much harder. Finance is “easy” to learn and very hard to master.