Someone, somewhere, is receiving multiple offers.
According to the latest missive from recruiters Robert Walters, multiple offers are still happening in the world of 'investment management finance.' Here, there are not only loads of jobs and plentiful offers but people able to negotiate, "favourable packages."
In particular, Robert Walters says there's an abundance of hiring in hedge funds, where there's lots of demand for people who can work across products in positions which are "unfunctionalised in nature" (sic).
This sounds good, because according to another recruiter it's precisely those non-specific- hedge-fund-operational-type roles which facilitate much desired moves from middle to front office.
"We are very, very busy," says Barry Seath, managing director of hedge fund recruiters Mirage Recruitment. "Hedge funds with 1-5bn in assets under management are particularly interested in hiring people with 2-3 years' experience to work in all-encompassing operational roles."
Heath says hedge funds are especially eager to hire people who can do everything from trade support to prime broker liaison, to liaison with administrators, NAVs, reconciliations and settlements.
Ex-product controllers are usually seen as the ideal candidates.
"A lot of former-product controllers move into these kinds of hedge fund roles because they provide more exposure to the front office than you typically get in an investment bank," Seath informs us. "You have far more chance of being noticed if the fund manager sits 12 feet away from you and you're not up against 200 other people internally who also want to move forward."
He says pay tends to be comparable with an investment bank. A product controller with 2-3 years' experience can expect 50-60k in terms of salary.
The bonus will vary depending upon the fund, but Seath says people don't tend to move for the money anyway: "The real lure is the exposure."
Don't all apply at once.