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Six reasons why using a recruiter is actually a good idea

Sometimes using recruiters works better than applying directly to banks. And if you put in extra effort when choosing your consultants, your career could benefit. Here are some reasons why.

1) Screen and select

There's a limited number of banks in Australia and it's difficult to look into the quality of their internal hiring teams. But recruitment firms are comparatively plentiful, so you should at least be able to find a few respected recruiters in your field. Don't spam out your CV. Do plenty of due diligence (e.g. check their experience online, get references from friends) and when you've screened out the cowboys, approach two or three top consultants.

2) More jobs, less time

It's a simple equation: those three recruiters give you access to a range of banks and they know the hiring managers there too, not just the HR people. When you go direct, it's one HR department at a time.

3) Industry insight

The recruitment industry is full of former financial services professionals who've made a career change. If you can find someone who's worked in your job function before, he or she will be able to understand your exact career needs and won't be confused if you use technical terms. Although HR people do (of course) work at banks, they are less likely to be former bankers.

4) Career coaching

Try to milk as much information as possible from your recruiter. He or she wants to make the placement and pick up a fee, so take advantage of that and ask for interview tips that will help you secure the role. By contrast, if you're applying directly, you can hardly ask for handy hints - HR must remain neutral.

5) Negotiation

Once you have a job offer, it's often more difficult negotiating terms directly because banks tend to give blunter, yes/no replies. A good recruiter should act as a middleman between the client firm and you in an effort to seal the deal.

6) Long-term love

Establishing and maintaining a good relationship with a recruiter can pay off years down the line when you want to change jobs. You'll be tipped off about any upcoming opportunities and you won't have to go through the arduous process of finding a new recruiter.

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AUTHORSimon Mortlock Content Manager
  • st
    still looking
    1 June 2011

    I've had to approach recruiters for the first time in 10 years just recently. I've found the quality shocking (maybe 1/12 is professional & genuinely trying to place you). You have to constantly hound them to find out what is happening and they put you forward for roles that are not what you want to get more commission.

  • Jo
    John
    30 May 2011

    Australian recruiters don't care about placing candidates in appropriate roles. All they are interested in is collecting their commission using the least amount of effort possible. They are like visiting a GP - write a prescription and get you out the door ASAP.

  • Lu
    Lu
    30 May 2011

    Which ones are the most suitable recruiters I should go for? Especially, if I don't have much experience. Thanks

  • fu
    funkybacardibanker
    30 May 2011

    Recruiters work well in bull markets. In bear markets firms dont want to pay their often ridiculous fees at 20-30% of salary.

    Use one at your peril... ithat is f you have high expectations.

  • Jo
    Jose de Beuno Tempo
    30 May 2011

    Is this real ? An Efinancial article that doesn't suggest that recruiters are the devil incarnate. Someones finally bought the editor a few beers!

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