The only way you'll get a front office job this summer

If you've decided to devote the summer to finding a job rather than sunning yourself and you want to work in the back or middle office, fine. Recruitment continues, buyouts aren't an issue, and back and middle office recruiters and line managers aren't necessarily absent until September 6th.

If you want to work in the front office, however, it's a little different. Front office recruitment has pretty much ground to a halt. There really is not a lot of activity.

This does not mean to say that it's impossible to land a front office job over the next four weeks, but in order to do so the following (improbable) stars must all be aligned.

1) You must be applying for a job which has been open for a while, has had full headcount approval for a long time, and hasn't been filled yet

At this stage of the year, most banks are unwilling to grant approval for new headcount. "It's got to be a job that's been pre-approved and where there's a real business need that hasn't been met," says Zaheer Ibrahim at Kennedy Associates. "These are pretty difficult to find."

2) The line manager must not be on holiday

"There's a reason most headhunters go on holiday during August," says the head of one search boutique (from his holiday): "Nothing gets done."

3) You must be out of the market or willing to forego a guarantee

If you're in employment and have a three month notice period, a bank which buys you out now won't benefit from your services until November. This may seem barely worth it given they could have waited until bonuses are paid early next year and got you cheaper then.

"It's not that hiring stops during August," says Russell Clarke at Mantis Partners, "it's just that people's expectations can be too high. It is easier to get placed if you're willing to accept a verbal guarantee of inclusion in the bonus pool," he adds.

4) You must be in sales

Clarke says there's often an appetite to bring salespeople on board before the busy first quarter gets underway.

"If you're hiring someone for a sales role, it's a good idea to bring them in during the third or fourth quarter so that they have time to get up to speed with clients before the end of January and February when there's most liquidity in the market," he says.

5) You must be in equity research

Equity research seems to be defying any form of hiring slowdown. Citigroup, Deutsche, Morgan Stanley and mid cap boutiques are all said to be hiring.

"The market is very, very good," says one equity research headhunter, "even though it's August and a lot of people are away."