Are the best recruiters former bankers?

28 January 2010

2 minute read

If you want a truly sympathetic, client-oriented, timely, and informed service from the person you're entrusting with your career, are you better off going to a former banker for it?

The likes of Adrian Ezra (Execuzen), David Reynolds (Scott Reynolds), Alex Tracey (Clifden Partners), Steven Hones (i-Search), or Logan Naidu (The Cornell Partnership) would probably say yes. All did their time in banking before moving into search/recruitment.

"I was talking to a trader the other day, and he was surprised that I actually understood the market," says one trader who's now reincarnated as a headhunter. "He finds most people in the recruitment industry really don't know what he's talking about."

Unfortunately, finding a former banker to deal with in a recruitment context may be hard until you reach VP level or above - away from managerial roles, there aren't many financial professionals in so-called 'contingency recruitment' firms. In most cases, you'll have to be headhunted to come across them.

The downside to dealing with a recruiter with an industry background will be that it's harder to beguile them with exaggerated tales of your outstanding performance. If they're operating in your area of specialism, the chances are that they know people you've worked with and can verify/falsify your claims.

The other downside is that they may be unduly judgemental. "They can come in with a lot of assumptions about people and almost too much knowledge about what they think's going on in the market," says the director of one recruitment firm.

AUTHORSarah Butcher

Global Editor

ex
ex recruiter
22 July 2011
Having been a recruiter for a number of years before making the transition into banking I can honestly say to those bankers with a superiority complex and think recruiting is easy and less pressured then banking are naive and stupid. My current job I do work longer hours but the work and pressure does not compare to that experienced as a recruiter. Many of my banking colleagues would not survive a month in recruitment before being fired.
It's funny because many bankers I work with were privately educated and everything was spoon fed. Some went to so called prestigious Universities and spoon fed some more. They really do believe that being a banker is special and requires intelligence. THE TRUTH BE TOLD ALMOST ANYBODY CAN DO A BANKERS JOB PROVIDED THEY HAVE A HIGH TOLERANCE TO BULL AND ABLE TO WORK HARD! Please note the same cannot be said for Sales and Trading of course. I do not particularly miss recruiting but I did work with some great people who I would consider real people. Not the two faced insecure individuals I have the pleasure of working with now.
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jo
john
1 February 2010
You are usually at a very low point in your career when you have to resort to visiting these recruitment folk. Best avoided.
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ma
martin
29 January 2010
I have never had any success in recruiting former bankers as recruiters. They tend to have a superiority complex and constantly mention their former bank in meetings as a justification for who they are ,which i find irritating.I tend to think of them as tyres , if you have a good car ,Making it run on retreads is never a good idea .
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da
daniele murphy
29 January 2010
I think the best recruitment consultants are graduates like myself, fresh of the boat and innocent. Our clients and candidates recieved the best service...because we don't have our heads stuck up out exit place. Bankers, failed idiots
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Eg
Egghead
29 January 2010
Market knowledge on the part of recruiters would be a be nice, but the most important quality for me would be something I *never* come across. I have been to second round interviews, after which the agents suddenly stop taking or returning calls/emails. I know this is a transactional business, but if you want to differentiate yourself, breaking the bad news in person is an easy and effective way to do it. Today's candidate could be tomorrow's client...
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