eFinancialCareers

The market for investment consulting jobs in Chicago is strong, with the institutional market holding steady and jobs for consultants who can serve individual clients growing rapidly in both retail and boutique firms. "The job market for investment consultants has been increasing," says Erin Polczynski, division director in the Chicago office of Robert Half International, an executive search firm specializing in financial services. "We have a quite a few positions for... Read more

While compliance jobs at all levels abound in New York, San Francisco and other parts of the U.S., in Chicago the market remains sluggish. "Some (financial) firms are adding on the compliance side, but things are moving slower in Chicago," says Stuart Rosenthal of Legend Global Search, a New York-based recruiting firm which specializes in compliance and legal placement. Rosenthal, who does considerable business in Chicago, adds, "A lot of searches... Read more

Changing technology is pushing Chicago's financial companies - particularly trading firms - to compete for engineers. In demand are professionals with network expertise, software programming skills and financial engineering backgrounds. "There is a tremendous amount of activity in Chicago right now, even compared to two years ago" says Rich Moss, president of Atlanta-based Moss Search, a recruiting firm which focuses on placing IT, trading and quantitative professionals within hedge fund... Read more

With the economy and markets still on uncertain ground, the financial job market in Chicago remains mixed. According to Jim Geiger, an executive recruiter with Analytic Recruiting Inc., in New York, the general mood in Chicago is uneven, with high demand in some fields but continued layoffs in others. Areas such as trading and risk management show demand, but hiring in structured products and asset management is slow to non-existent.... Read more

Chicago has opened up as a market for operations professionals as the city's small and mid-sized financial firms manage to grow despite the markets' recent turbulence. Erin Polczynski, division director of Robert Half Finance & Accounting there, says "the majority" of the searches she's seen over the last two months have been for operations positions. While roles exist in traditional firms, operations specialists are particularly needed at trading and hedge fund... Read more

Recruiters and accounting firm insiders report a strong demand for accountants and CPAs in public accounting, the corporate market, and financial services and alternative investment firms in Chicago. "If you're an accountant in the Chicago area, it's a great marketplace," says one of them, Dave Falardeau of 10k Financial Recruiters. Indeed, Chicago is no exception to the nationwide shortage of accounting talent. Despite the slowdown in hiring in many industries... Read more

While many financial professionals are concerned about job security and plummeting compensation, at least one segment remains healthy: quantitative analytics. Mid- to high-level professionals with advanced degrees in quantitative fields and work experience are a hot commodity in Chicago, says Jim Geiger, vice president at Analytic Recruiting, a New York-based firm with a strong presence in the lake-front city. "Someone with a Ph.D. in a quant science is very attractive... Read more

Chicago-area asset management firms are cautiously hiring experienced professionals in service and high-level back office jobs. Industry insiders say there is still demand for client service, investor relations, compliance and legal positions as firms work to keep existing clients from jumping ship during rocky economic times. "The service side is still surprisingly active," says one senior executive with a top tier Chicago recruiting firm. In this volatile environment, he says, firms know... Read more

Despite the tight market, opportunities remain at mid-market firms, especially for M&A specialists. As bulge bracket firms continue to announce layoffs, Chicago-area investment banking job openings are relatively few and the competition for them is fierce. But despite the tight market, there are still opportunities at mid-market firms, especially in M&A. "There is definitely less activity than we saw last year," says Stephan Renken, director of the Chicago office of Michael Page... Read more

Recruiters and wealth management executives in Chicago say that while hiring is on hold right now, private banking as an industry will see rising demand at all levels in coming years. "Private banking in general is experiencing a slowdown, and Chicago is no exception," says a senior wealth management recruiter who asked not to be identified. Indeed, her firm's placement of C-level executives and senior individual contributors is off by 50... Read more

The hedge fund job market is robust in the Chicago area, particularly for mid-level professionals in due diligence, risk management and hedge-fund administration. Experienced professionals with Ph.D.s in sciences or math are also in demand. "So far this year, there is still strong hiring," says Scott Ruoti, Vice President at Harmer Associates, a Chicago-based recruiting firm. His firm is seeing a "surprising amount" of hedge-fund hiring activity, he says. Industry insiders agree... Read more