To make your move post-bonus or not
Recent weeks have seen a return of the annual phenomenon of musical chairs once the bonus is banked. But recruiters warn against moving once too often.
For some people who have moved post-bonus, this is their second such exit in as many years.
For example, Malik Chaabouni, who last month left Merrill Lynch for Deutsche Bank, previously quit JPMorgan for Merrill after receiving his bonus in 2005. Similarly, James Perryman, who recently left Merrill Lynch for UBS, joined UBS from Citigroup less than a year before.
Recruiters say people who move too frequently get a bad reputation in the market. "Once you do it once or twice, employers get wise to it," says Simon Vaughan Edwards at search firm Alexander Mann. "Now that there are fewer banks and the market is less frothy, it's becoming increasingly usual to spend a decent amount of time at a single company," he says. "You need a CV that displays solidity and continuity."
Jonathan Evans at search firm Sammons Associates says moving more than every two years is viewed with suspicion. However, he says it's also not a good idea to stay where you are until you collect your pension. "If you stay where you are for more than five years you may also be viewed suspiciously," he warns. "People tend to get headhunted because they have done a good job."
