The Russian hiring hotspots in volatile times
Financial services hiring in Russia isn't immune to the volatility in global markets.
Unsurprisingly, there's less recruitment than there used to be - but some areas are still hot.
Headhunters at Antal Russia say demand for mid-level investment bankers has fallen the most. "While the demand for investment bankers at VP or Director level has dropped, we are still seeing hiring for quality analysts and associates" says Daria Arkhincheeva, senior consultant with Antal Russia..
The firm's most recent salary survey puts the broad range of an analyst's salary between 60,000-210,000 RUB a month, while that of an associate can range from 125,000-250,000 RUB.
Russia's second largest bank, VTB, has just posted a first-half 2011 net profit of 53.6bn rubles- up 113% year-on-year, and has more than doubled its investment banking gains. Analysts have suggested that - despite a bumpy ride - investment banking revenues in emerging markets are overwhelmingly likely to continue to rise rapidly.
Oxana Feschenko, a partner at human capital consultancy RosExpert, says: "Given the recent trend of integration between the corporate and investment arms of wholesale banks, there is growing demand for bankers at senior MD level who have a strong reputation in the investment and corporate community for origination, as well as the ability to build an integrated organization."
Antal says players in financial services are also "using the current turbulence to access and build support functions which were stretched during the boom period. With new systems being implemented by the major players, senior middle and back office positions are opening up.
Finally, Antal says there's demand for derivatives specialists - in both structuring and sales. It's bleaker than it was. But not bleak everywhere.
