Photo: essG via flickr
The jobs outlook on the financial industry has been grim—banks had over 200,000 job cuts last year and hedge funds are closing as soon as they’re opening. But for those who’re still willing to weather it out in the world of finance and investing, it might be helpful to learn how hiring and job openings have changed and evolved amid a time of rapid changes in the financial industry.That’s exactly what Bob Olman, a managing director at executive search firm Alpha Search Advisory Partners, has studied and summarized. In a release obtained by Business Insider, Olman ran through three key points of how the jobs environment is changing in the hedge fund industry. It contains two parts of good news (where hedge funds may be hiring!), and one part bad news.
- Expect to find more openings in investor relations. After a tumultuous 2011, hedge funds are doing all they can to keep their current clients. Thus, more funds are being allocated to client services such as marketing and investor relations.
- Staff focused on operational risk could expand. One chief risk officer told Olman that losses in hedge funds are coming from operations, not bad trades. So there’s a chance that more hedge funds will be expanding their risk teams.
- Debbie downer: Qualified professionals could be flocking to hedge funds in search of more stability as the banking sector faces extensive reforms and changes, those individuals are also preferring a stable job in lieu of a bigger paycheck… so expect some increased competition to work with.