The European financial services market is undergoing significant shifts, with hiring trends evolving faster than ever. As the financial sector becomes increasingly globalized, changes in hiring practices, regulations, and talent mobility in Europe often ripple across to the USA markets. European insights also offer valuable perspectives on emerging skills and opportunities, fostering innovation and cross-border collaboration.
In our latest episode of the Searching Smarter podcast, Jesse Skaff (host) dives into these changes with Matt Nicholson, a seasoned professional with 15 years of experience at Selby Jennings Europe. Together, they explore emerging market trends, shifting talent dynamics, and key hiring opportunities that are shaping the future of the industry.
European market dynamics in 2024
While the banking sector has remained steady, the buy-side space—particularly hedge funds—has demonstrated resilience and growth, Nicholson explains. This sector is increasingly prioritizing professionals who offer a blend of technical expertise, leadership skills, and innovative thinking. Consequently, there is a sustained demand for quantitative specialists and corporate support roles, such as compliance and risk management. However, as the expectations for talent continue to rise, recruitment has become more complex, requiring a strategic approach but presenting highly rewarding opportunities for those who succeed.
Impact of bonus cap removal
Will the removal of the bonus cap lead to increased retention or drive more attrition? Matt shares how this compensation limitation has created a divide in the financial services sector in the UK. Some banks have embraced the change, aiming to retain high-performing talent, while others remain hesitant.
Looking ahead to next year
Matt predicts that as economic conditions improve, we'll see a resurgence in banking activity, increased hiring in investment banking, and sustained demand for technical talent. The emphasis on quantitative skills will remain critical, and professionals with a blend of technical expertise and leadership capabilities will be highly sought after.
Want to learn more?
At the Searching Smarter podcast, we speak to the brightest and boldest minds in financial sciences & services. From talent acquisition leaders and hiring managers to world-class professionals, we delve into all the ways they leverage top-tier talent to drive their businesses forward. Listeners will walk away with expert guidance on how to attract, acquire and retain high-performing teams, as well as what it takes to be a part of one.
It's available on Spotify, YouTube, Apple Podcasts, or wherever you get your podcasts. So listen, learn, and let us know what you think!
