Bailey McCann, Opalesque New York:
A new hiring trend in hedge funds is emerging in the wake of the ongoing economic crisis - job seekers are choosing stability over pay. Many are also looking for work at hedge funds for the first time. Beaten down by layoffs and collapses, financial job seekers are more willing now to take lateral moves or less money if it means a steady career trajectory according to my interview with Robert Olman, managing director, Alpha Search Advisory Partners, a US-based hedge fund recruiting and advisory firm.
"For the first time in recent memory, pay is taking a backseat to job stability. With major banks dissolving business units and mandates of Dodd-Frank yet to be rolled out, managers, analysts and others see more security and upside in hedge funds," Olman explains.
The new realities of the job market for financial professionals have created a 'priority list,' for job seekers making them less risk averse. This trend is also true for funds and banks in their hiring choices. New hires often have more diverse skill sets, longer track records and are of a higher caliber than those that have previously made it through the hiring process.
Hiring resources are going to new areas including investor relations, marketing and client services. "Investor demand for more information and transparency has increased the amount of resources organizations are putting into these areas. No......................
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