The Platinum Pacific Partners webinar was organised with the purpose of providing career insights at a time where the pandemic has shifted many people's perspectives. Victoria Biggs and Meredith Joran have succinctly summarised the recruitment environment and outlook in a post-COVID world.
Highlights of the webinar have been summarised below:
Recruitment outlook: The beginning of this year was strong with many roles in financial services being recruited for but COVID triggered a short and sharp correction, which then created a two-speed approach. One approach was cautious and firms consolidated as necessary whilst the other approach by firms was to remain opportunistic and keep growing.
Hiring momentum continues: new roles will continue to become available. Some firms remain committed to hiring but the time frame has shifted. Meanwhile, new boutiques are being established or are growing, which is likely to create some interesting roles.
Areas of opportunity: new roles likely to be created include the following areas: distressed credit, special situations and turnaround private equity.
Compensation levels: professional services were affected at the beginning of the COVID shock but many people have now been restored to their base salaries. For the funds environment, there was no impact on base salaries and new salaries are not at lower levels but bonuses are also likely to be lower.
Sydney vs Melbourne: Super consolidation will continue and this is likely to see more mergers and a change in strategy and direction for the mega super funds. As these mega super funds become more sophisticated, the compensation will also increase as they look for more specialised skills set.
Interview skills: Use this lockdown period as a time for self improvement by contacting recruiters, networking, staying up to date with industry news, updating CVs and improving interviewing skills.
Thank you to Meredith and Victoria for their time for the webinar. If you would like to contact them to discuss your situation, please reach out to them using the details below:
Victoria Biggs (PE, VC, Unlisted assets, Strategy, Investment Banking roles)
Meredith Jordan (Listed equities, Superannuation, Asset consultants, Distribution roles)
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