Suddenly, economists are HOT. As we reported earlier this week, global macro hedge funds are said to be hiring. And Citigroup has apparently told investors to follow the pronouncements of its economists rather than its equity analysts if they want to call the end of the bear market.
Does this mean that economists are receiving more recruitment calls? Sadly not.
“It’s very slow,” says one senior economist at a European bank.
“It’s a macro moment, and demand for what we have to say has clearly gone up,” says another.
However, he’s hesitant to call a hiring rush without drawing up a few charts: “The market for economists is probably holding up better than for other financial services professionals, but it would be hard to say for certain without looking at some stats…”
Lee Thacker of search firm Silvermine Partners says economist jobs tend to be few and far between anyhow. “There are only one or two chief economists at each bank. They tend to come from academia and to stay in their roles for a very, very long time.”