Speculations and casual soothsaying about the markets abound. Seasoned finance recruiter Kathy Graham puts her job forecast down in writing, in five pages of detail. The 2008 installment of her annual Financial Services Job Forecast (now in its seventh year) examines upwards of a dozen indicators to produce a sector-based analysis of the likely developments this year in financial services employment.
The overall picture for hedge funds jobs in 2008 is down, with the exceptions of accounting and compliance positions. (This site has also reported on sales and client service as possible strong areas.) Since the Forecast covers the financial services industries broadly, hedge fund employment is only one of many areas discussed. But the big picture should be of interest. First, for someone who hasn’t yet broken into the industry, how to best position oneself never stops being a consideration. Second, someone who finds himself out a hedge fund job this year has to consider what to do while waiting for another shot.
The Forecast not only describes the leading positive and negative indicators and their import for various sectors, but also discusses personal strategy in a section entitled, “What To Do If You’re In A Potential Non-Growth Area.” As Kathy writes: “Winter can be a lovely season if you’re prepared for it…” Key points: review your resume and rethink your employment history; consider whether additional training or education will be an asset; consider where your skills can transfer; network, network, network.
Kathy Graham (kathy at hqsearch.com) is a financial recruiter and consultant via her several Chicago-based firms: Highest Quality Search, HQ Seminars, HQ Scripts, and HQ Services. The complete version of the 2008 Financial Services Job Forecast is available via her website, www.hqsearch.com, or from Kathy by email.