In theory the summer is a dead zone for finding a new financial services job. Key decision makers are on holiday, particularly those in HR. If you’re trying to find a new position at French bank, forget it.
Disappointed bankers usually move after possibly disappointing bonuses from January to March, or towards the end of the year when it’s obvious that their payout will be diminutive and they’re looking for a new challenge before the new year rush.
You could be missing a trick, however. Recruiters Randstad Financial and Professional analysed when nearly 15,000 financial services professionals, primarily in investment banking, went looking for nearly 3,500 vacancies over the course of 12 months.
The results suggest that the ratio of candidates to jobs is best during from May to August – namely, the summer months when most people are thinking of their next trip to the beach rather than their next job. The jobs don’t fall away, but the number of candidates does. The margins are small, but every little helps.
This reiterates the point that the best way to grab a recruiter’s attention is when it’s least palatable to apply for a job. Our own research suggests that Friday is the best day of the week to apply for a new position – recruiters are still looking, but job-seekers aren’t applying.
Similarly, financial services recruiters are most likely to be receptive to your CV in the hours immediately after lunch, when you’re least likely to be productive and probably have deadlines looming.