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Ex-front office types not welcome in the back or middle office

Like hard-up housewives forced to downgrade from Waitrose to Lidl, a few very desperate ex-front office bankers are allegedly thinking the unthinkable and contemplating jobs in the back and middle office. They are not being well received.

The problem appears to be that back and middle-office hiring is just as depressed as the rest of the market. “The amount of operational and middle-office hiring is very, very limited indeed,” says Mike Hartwell of operations recruiters Hartwell Buck. “Organisations are still off-shoring and near-shoring operations functions to Hungary and India, and some banks are pulling out of entire product areas and making redundancies as a result.”

Steve Forro, finance manager at recruiters Indigo City, says banks aren’t hiring anyone – product controllers included. “It’s just a dead, dead market at the moment. There’s not a lot going on anywhere.”

Forro says there aren’t a lot of front-office bankers and corporate financiers queuing up to become bank accountants anyway: “It would be like flaying themselves with a birch. We never see it really.”

Comments (18)

  1. The main reason that there aren’t a lot of front-office bankers and corporate financiers queuing up to become bank accountants is the same reason that they’re struggling to find new jobs anywhere. They simply don’t have the requisite skills, experience and qualifications. Front-office banking is a classic tale of hyper-specialisation and non-transferrable skills.

  2. What’s the difference btw front office and back office in investment banking?

  3. Front office has really hot, foreign analyst girls.

  4. Front office generates revenue, back office is a support function.

  5. Never enter the back office.. no respect, no pay, 5th tier people who couldn’t get a decent front office job

  6. Bit like recruitment you mean?

  7. I would simply never do a middle/back office job, prefer to be out, end of story. boutique /prop firms is the future. I am not working for 50K base + 20k bonus and zero respect.

  8. quite sad how front office people dis-respect back/middle office… just imagine if all the BO/MO people went on strike…how well would your bank function mr front office??

  9. Ha, ha, just proves that “back office” is a dirty word in the investment banking industry…

  10. Personally I I do not disrespect at all. I have friends who are doing this type of job. I am simply stating the obvious truth, no good pay and zero respect from most people in the FO. I agree trade capture is essential and in fact all ALL banks (except probably goldman) have issues with this. Most FO people blame it on the MO personnel. but mainly is because traditionally senior management just DONT GET IT and they wont spend money in this kind of stuff. Anyway point is if you wan to make money from now on forge the banks and go to trade in a prop firm. I

  11. I’d rather work at Starbucks than in the middle / back office dungeons

  12. This FO/MO/BO hierarchy is looking out-dated. The FO’s claims to be the revenue generators don’t exactly ring true. Judged by who loses the company the least money, the MO and BO jobs are the ones taking the lead now.

  13. You need to have mad game to work in the MO. FO types cant spit it like we can. Mad props to ya….Sarah Butcher.

    MO Shot Caller Reply
  14. Reeeespect…Maybe it’s time for those hard working types in BO/MO to get their own back, G!

  15. Mic check one-two,
    Can you all hear me inside-the venue?
    Reppin’ MO ‘caus that’s where I’m from,
    Where’s the FO at? Oh wait, they’re all gone!
    They ain’t on our level, they reckon they’re all that,
    Shout out to all my Ops crew, we got all the chat.
    To all the FO, most of y’all don’t have a clue,
    That all “Ops” problems are mostly down to you! For Real…

  16. To Banker’s comment yesterday, the funny thing is whilst you will be searching for another job for the next 6 months, I will still be in a recruitment job and earning the same money as you did last year…

  17. ..but still in recruitment

  18. MO Baller has now been nominated for next year’s MOBO awards.

    OperationTrident Reply

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