Will the Job Market Be THAT Bad?

22 January 2008

1 minute read

Maybe not. At least that's what most users of eFinancialCareers believe, according to our latest poll. Where do you stand?

Just more than half - 52.5 percent - said they think 2008 is going to be an average year, with skilled people able to land new positions. Only 11.8 percent said it's going to a great year - let's call them the galloping optimists. More than 22 percent believe no one's going to hire. The rest - 13.2 percent - said they weren't sure.

Of course, we all know the truth is never simple. While layoff news is all the rage right now, there are reports of hiring in some pockets as banks re-tune their approach to focus on promising sectors.

So, what's it all mean? Certainly more than we can discern from a simple poll. Tell us what YOU think is in store for 2008, and what your plans are. Post your comment below.

AUTHORMark Feffer

Insider Comment

5 comments

An
Andrew
12 February 2008
Am an EM banker looking for a relocation to UK and US since 2003...never got a chance! And now I believe I wont get even a call....bad??? what is next than worst?
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Ba
Backspan
28 January 2008
Hi, I'm from a large Northeast Metropolis.
As a skilled Accountant, I wish to become a
Financial Analyst. This change (hopefully)
will occur in June, when I earn my MBA
from my Part-Time program. Given that
there is great overlap between Accounting
and Finance, I don't foresee any major
problems. Does anyone agree or disagree
with my opinion. I appreciate all answers.
Reply
Ta
Tara
25 January 2008
how are accountants faring? Does anyone know?
Reply
Bo
BostonQuant
25 January 2008
At least from the asset mgt side (and the headhunter calls I still get), things are fine. Asset mgt firms still need the same number of people whether markets are up or down. You can't tell your clients you let 1/3 of your staff go because markets are down. You'll certainly lose more than 1/3 of your assets if you pull that stunt. Sell side is another story.
Reply
Do
Dontpanic
23 January 2008
I think the FI people are the ones that have to worry. The street didn't over-hire in the equities divisions. The layoffs will be where the losses are, and thats in CDO's, structured finance, and other FI kind of areas.
Reply