Happy Holidays to everyone. I wanted to extend a message of gratitude to everyone in our orbit for the long time support. Harrison Rush celebrates 15 years in January. I hope all readers are enjoying some time with friends and family.  

Recruiting Update: 

The fear index has been soaring in 2023.   People in finance worried about job security, layoffs or their bank imploding. It has been a decade since we have seen this level of instability at the banks. Others have spent the majority of 2023 unemployed. People who get fired generally end up in a better spot. It is not uncommon for people to say that getting fired was the best thing that happened to them. The transition from employment to unemployment and back to employment does not come without a lot of stress but ultimately people land in a better spot. 2024 will see the markets moving from fearful to greedy. Markets move quickly these days. Look for a robust recruiting market in 2024.

Recruiting Tips: 

Resume review services are a scam 

Do not pay for a recruiter. Resume review services are a scam. There are plenty of free resources out there. Recruiters who are trying to sell resume review services are not placing candidates and are desperately trying to make money of the unemployed. Do not bite. If you are reading this email you are smart enough to create your own resume. 

Recruiter vs Direct 

If you have a good contact at a bank it can be better to go directly and not through a recruiter. The caveat is how good your relationship is with the contact and how good the recruiters relationship is with the bank. Banks do not want to pay recruiting fees if they do not have to. It will also help to go direct and through a recruiter simultaneously, if the recruiter has a good relationship with the bank. It is imperative to drill down with the recruiter and gain an understanding of how good the relationship they have with the bank truly is. Ask them the following questions: “How long have you been working with XYZ bank?” “How many people have you placed there?” “Do you deal with HR or the MD?” Recruiters are dying for fees, and many will spray your resume all over Wall Street. Recruiters are scared right now and a frightened recruiter does not have your best interest first. You are nothing but a fee to many recruiters so be careful.

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