UK
Sector: Graduates & Internships
Mixed redundancy messages: Ask the Expert
A: Quite possibly, they can. The main legal recourse you could have is if you can prove unfair or wrongful dismissal. For example, if you were able to argue that your job wasn’t really redundant (and they were using redundancy as a pretext for getting rid of you), or that you had been unfairly selected [...]
Consultants keep pay on the level
Few people may be familiar with the names of McLagan Partners, MG Management Consulting and the Monks Partnership but it could be a good idea to become better acquainted: they play an important role in determining investment banking remuneration. They are specialists in pay benchmarking. They collect salary and bonus data from banks and sell [...]
How to face a disciplinary process: Ask the Expert
A. Go to the HR department today and lodge a written appeal against your disciplinary warnings. Then tell them that you are following your doctor’s advice to take time off work for depression, and that you will be sending them a medical note to this effect. Go home! Don’t worry about “compromising your position”. The [...]
How to get the most out of a recruiter
A. Ah, the dreaded “headhunters”. Love them or hate them, we do crave their attention and advice. To get the best from your relationship with an agency, you need to understand the different types of operators out there. At the top end of the market you have executive search consultants, the proper headhunters, who go [...]
Recruiters suffer the pain of poachers
Thanks to an alignment of mutual self interest, the beginning of the year is usually a good time to be a headhunter. Bankers with bonuses in their pockets are keen to move, while banks with replenished recruitment budgets are equally eager to hire. However, this year, following a spate of staff poaching as search firms [...]
Banking and investment industries face aftermath of US tragedy
Institutions have also been working hard to keep their investment banking and trading operations up and running, kick-starting disaster recovery operations and transferring dealing to non-US financial centres. Morgan Stanley and the Cantor Fitzgerald brokerage appeared to be the hardest hit by the disaster. Morgan Stanley had 2,500 employees in the south tower of the [...]
How to move with your team
The first major issue is the restrictive covenants clauses in the candidate’s original contract that say if you leave you cannot encourage, take or persuade another member of staff to go with you. Most contracts these days, particularly at senior levels, include such clauses. Recent experiences in the City suggest that investment banks are more [...]
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