Downsizing at traditional investment banks, along with the merger of smaller investment funds and the stimulus package coming out of Washington make this a good time to pursue a job in alternative investments, writes Sandy Gross in Forbes Magazine online.
But you have to pick the right sectors, the ones that are expanding in this choppy market. He singles out the following:
Distressed Credit, where there’s currently a flurry in hiring. As the economy rebounds, this area could see a significant upside potential. Candidates with strong mergers and acquisitions, structuring and perhaps trading experience would be at the top of the list.
Compliance and Accounting. This area is hot because companies will need more people to handle an increasing regulatory burden, to monitor risk and help them comply with the SEC and FDIC demands. Candidates with corporate or operational accounting experience may qualify, providing they can build a strong case as to why their experience fits with compliance work.
Risk Management. For the reasons mentioned above, professionals who can deal effectively with the SEC and other regulators will be in high demand.
Securitization. Sure, some of these guys got blamed for the whole CDO mess. But there’s still a demand for professionals who understand these securities, and can value, structure and sell them.
Foreign Exchange. Forex pros continue to be high demand because of the shifting of capital markets around the world and the opportunities to make money in foreign exchange markets.
Global Macro. Firms will need economists who can analyze sudden shifts in global market conditions and explain these changes to portfolio managers and investors. To qualify, you’ll need a strong understanding of global economics, currency dynamics and risk assessment.
Rounding out the list, firms will need talented investor relations managers, who can help raise capital from new investors and firm up relationships with existing investors. This is more likely a job for a senior professional with an extensive network of contacts and proven track record in fundraising.