This Recruiter Has More Bad News For Mid-Level Bankers Who Have Lost Their Jobs

Photo: Getty/ Mark Kolbe

The finance sector, like other industries, is not immune to lay-offs as it goes through change.

For bankers used to high salaries, who possess a specific skill-set, getting a job in another industry could prove difficult.

Executive recruitment specialist Kevin Wallis, speaking to the Australian Financial Review about executive unemployment, said this:

“It also takes a very game employer to take on mid-level executives from one of the big four banks in a role in a different industry that’s totally culturally so different; you’re moving them from George Street [in the city centre] to Silverwater [in the western suburbs],” he said.

“And it’s the number of them. Not only is it so hard to get roles but there’s so much competition.”

“You also have quite a few kids who aren’t going back to private schools the next term because their parents reach the point [where] they have been out of work for so long and they’re not sure where they’ll find work.”

Read more here.

Now read: Here Are The 6 Types Of People You’ll Encounter On Your Office Intranet

Follow Business Insider Australia on Facebook and Twitter

NOW WATCH: Executive Life videos

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.