If you're looking for a financial services or investment banking job in London now, where are you most likely to meet with success? Where are the skills shortages, the talent tightening and the opportunities to reinvent yourself in an area where experienced candidates seem to be tight? Conversely, which jobs are completely oversubscribed and likely to leave your CV languishing in a pool of other people with very similar work histories who are all chasing the same thing?
We have some answers. Based upon the ratio of jobs currently advertised in the UK on the eFinancialCareers jobs site to CVs recently uploaded in the UK on the eFinancialCareers CV database, it looks like there are some roles for which candidates are comparatively hard to come by. By comparison, there are many others for which candidates seem far too abundant. You probably want to be pitching yourself in the first category.
Given the preponderance of financial services regulation coming into effect, it's hardly surprising that regulatory change is a hot area. Basel III, Solvency II, MiFID II, and Dodd Frank are all partially implemented or due for implementation soon. Unsurprisingly, jobs are appearing for regulatory change specialists, but there appear to be relatively few people to fill them. Over the past three months we have only had 3.3 UK CVs citing the words 'regulatory change' loaded into our system for each UK-based regulatory change job currently advertised.
This seems a little more perverse. It hasn't been a great year for M&A and all the indications are that M&A bankers are likely to lose their jobs in the second half. Credit Suisse, for example, is 'delayering' its M&A business. Others are likely to do the same.
Despite this, our research suggests there may be a shortage of junior M&A bankers to fill the jobs available. Over the past three months, we've only had 3.5 UK M&A analyst CVs loaded into our system for each UK M&A analyst job currently advertised.
Despite reports that banks are less interested than they used to be in hiring newly qualified ACAs, it seems product controllers are still comparatively hard to come by. We've had only 3.8 product controller CVs loaded into our CV since May for each product control job that's being advertised in the UK now.
Anecdotally, finance change jobs are hard to fill, although they were apparently far harder to fill two years ago. Banks continue to tighten their financial control systems and need finance change managers to push the alterations through. Many jobs are on a project basis. The ratio of recently uploaded to CVs to currently advertised finance change jobs in the UK is: 4.6:1.
The ratio of recently uploaded equity sales CVs to currently advertised equity sales jobs (in the UK) isn't great. Right now, we have 27.2 CVs per job. It's good if you're hiring in equity sales, less good if you're a candidate looking for work.
Private equity has been a growth area for jobs this year. Unfortunately, that doesn't make it any easier to get a job as a junior private equity professional. We have 23 recently uploaded CVs for private equity analysts for each available job.
Equity researchers are also fairly abundant. In the past 3 months 18.4 equity research CVs have been uploaded in the UK for each currently available equity research job. Self-reinvention may be required.