A job market with an over-saturation of qualified individuals with financial experience—thanks to the recent bout of mass layoffs on Wall Street—doesn’t make it any easier for finance firms that are looking to hire.
Companies that want to to hire for mid to senior level positions want the most outstanding employees—and they probably aren’t going to hire someone who’s lost his or her job.
Bob Olman, a manager partner at executive search firm Alpha Search Advisory Partners, told Business Insider that when firms approach him about filling a position, he only reaches out to the best—and that usually means someone who’s still employed.
“Most of the people we end up placing—unfortunately for those who’re displaced in the industry—are employed and reasonably happy where they are,” Olman said.
“The ones that are happiest—they’re the best at what they do and get the best bonuses—those are the people we generally go after, those are the people our clients want access to.”
Sorry displaced Wall Streeters, you probably aren’t getting a headhunter call any time soon.
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