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Joslin Rowe

Business, Career, Financial, Financial Management, Financial Services, Money

The Latest Joslin Rowe Research Shows Investment Management Firms Resist Credit Crunch And Continue To Recruit

According to new research from Joslin Rowe, a City recruitment consultancy, whilst the investment banking sector has been hit hard by the credit crunch, investment management firms have suffered less from market volatility.

The figures from the latest Joslin Rowe research shows that despite the difficult financial climate, there are still a number of pockets of hiring, particularly within performance analysis jobs.

“There’s been a real surge in performance measurement jobs and there just aren’t enough job seekers in the market to satisfy demand”, commented Ms Jalpa Chandarana, manager of the Joslin Rowe investment management job recruitment division, “For every 10 performance analysis jobs on the market, there are just 2 candidates.”

According to the research, the demand for performance analysts is having a positive impact on the length of the recruitment process, salaries on offer and progression opportunities. The premium for a performance analyst to move jobs is, on average, at least £5,000 more which is exceptionally competitive.

Ms Chandarana explained, “This is a big rise. Most employers in other sectors just can’t offer this and even within the investment management world, which is doing comparatively well, there still needs to be some caution – so salaries are remaining steady. So it’s clear just how in demand candidates are for performance analysis jobs, if this is the increase on offer.”

Hiring time is also much faster across performance analysis jobs than within other finance jobs and investment management roles at around 2-3 weeks rather than 4-5 weeks. Investment managers are also keen to tempt new jobs seekers to their firms with better than usual career progression prospects – particularly moves from performance analysis into more front office positions.

“Moving from a performance analysis job to the front office is usually very tricky. Investment managers realise this so are trying to build clearer progression plans between the two areas to tempt people on board”, Chandarana confirmed.

Another area feeling the benefits of increased demand across the investment management industry are business analysis contractor roles. The position of investment management firms in the overall financial services space means it’s an attractive proposition for contractors.

James Guttridge, the head of Joslin Rowe’s interim recruitment offering, explained,“The asset management and global custody clients are a lot busier than banks. Any interim jobs coming in from the banking community are generally project related, whereby the client is conducting preparatory analysis of existing processes or systems to determine whether a project should go ahead – or they have already committed to implementing a new system, and the position is focused on the planning, delivery and post-implementation phases of that new system.”

According to Joslin Rowe, the difference on the investment management side, is that whilst many contractor jobs are again project implementation related, business analyst contractor jobs have also come in that focus more on market research and product development.

“Where organisations are looking to use this time to stabilise and maintain their assets under management, they also see this as a good time to find seek out market opportunities for the future,” explained Guttridge, “Put simply, business analyst contractors and project managers are really in demand.”

About Joslin Rowe
Established in 1982, Joslin Rowe is one of the leading UK banking jobs and financial services recruitment firms and a Randstad company. In 2008, the company won the UK Recruiter award for “Best Secretarial Recruitment Agency”

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Banks, Career, Financial, Financial Management, Financial Services, Money

The Number Of Compensation Analyst And Compensation Manager Jobs Increase As Banks Rush To Revamp Remuneration Plans

According to new research from City HR recruitment consultancy Joslin Rowe, while August may have been a damp squib weather wise, in the HR jobs market recruitment activity has been boiling over.

The latest figures show that demand for good HR professionals, especially for compensation and benefit jobs has actually increased – despite the credit crunch and the usual seasonal summer slowdown.

Daniel Cooper, senior consultant with Joslin Rowe, reflected, “The ongoing banking crisis is actually fuelling the volume of compensation analyst and compensation manager jobs. The current market conditions mean that employers are focusing evermore on their bottom line and staff remuneration is an enormous part of this. Banks need to pull off the tricky balancing act between retaining the best talent but within the most cost-effective reward structures. Put simply, companies are keener than ever to build robust compensation platforms for the future and they know to do that they must hire the very best compensation people in strategic compensation analyst and compensation jobs to do this.”

The Joslin Rowe data shows financial services firms are willing to pay a premium to secure the best compensation professionals at all levels of recruitment for current finance jobs – from analyst to strategic manager jobs.

“Recently, we assisted a compensation analyst on £40,000 to move employers for a new starting salary of £55,000. A 38% pay increase is phenomenal at the best of times – but the fact that it’s happened now in what continues to be a challenging environment shows just how in demand these skills are”, said Cooper.

This demand is filtering into a much faster recruitment process, according to the research. Joslin Rowe found that the average time to hire, which is defined as the period from vacancy notification to when someone completes their notice period and starts in that new role, is running at around 2 weeks less for compensation & benefit jobs. That’s an average recruitment process time of 6 weeks in comparison to 8 weeks for the rest of the HR jobs recruitment market – and it may become faster.

However the clock may be ticking. Currently the banks are desperate to get people on board now so that they can start looking at the 2009/10 budget period. As soon as a new compensation analyst CV appears, the banking jobs interview requests flood in.

Cooper concluded, “For good people with a great compensation & HR background, a solid CV and experience of making improvements to share schemes and benefit plans, there are no end of options. The compensation analyst jobs and compensation manager roles on offer are very strategic – after all most companies know they need to act now to make a real difference to business performance”.

About Joslin Rowe
Established in 1982, Joslin Rowe is one of the leading UK financial services recruitment firms in the UK. Joslin Rowe consultants, candidates and clients work together to achieve the best employment opportunities and long term relationships. Joslin Rowe recruits for jobs across London, Edinburgh and Glasgow including long-term contracts, temporary and permanent roles. Joslin Rowe is a Randstad company – the second largest HR services group globally.

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Banks, Business, Career, Financial, Financial Management, Financial Services

Joslin Rowe Recruitment Reports Banks Recruiting In High Volumes For Senior Business Unit Controllers Within Commodities

Pockets of high volume product control recruitment still exist within the City, despite wider doom and gloom. In particular, senior business unit control jobs within commodities are increasing.

Simeon Hall, a senior consultant in the Joslin Rowe senior accountancy and finance recruitment division, stated: “Commodities is one of the fastest growing product areas of the moment. As credit is down, commodities is up. A number of investment banks are rapidly expanding their desks, whilst others are effectively starting up a commodities division from scratch. This means excellent opportunities for senior product/business unit controllers.”

According to Joslin Rowe research, the commodities product control jobs on the market will appeal to those professionals looking for senior accountancy jobs, who are keen to shape the future of a new division and develop, from scratch, the product control infrastructure.

“These product control positions are highly desirable,” stated Hall, “You’re not inheriting the status quo and instead can implement new ideas with the support of strong resources, as banks pump money into the commodities arena. All the banks are keen to get the very top people on board to set up or expand their offering.”

This keenness is translating into the finance jobs recruitment process. Joslin Rowe‘s product control recruitment desk has seen the times to hire within commodities slashed by around 30% in comparison to product control jobs in other areas, such as equities. Salaries are also strong for those moving within the market. Senior product controllers are typically securing around 10-15% more – a big premium when most other remuneration packages are rising in small increments because of the credit crunch. In fact, according to Hall, recent salary jumps for the most in demand product controllers have been from £65,000 to £75,000, with a £10,000 sign-on bonus on top.

Hall also points to excellent career progression. “It’s really a chance to write your own job spec and an opportunity to rocket up the career ladder. In these start up divisions progression will revolve around success – not just dead man’s shoes. One of the most desirable aspects of these commodities product control jobs are their exposure to the front office. Being able to move out of business unit control and into a front office desk job is much more likely.

About Joslin Rowe
Established in 1982, Joslin Rowe is one of the leading UK financial services recruitment firms in the UK and Ireland. In April 2006, international staffing services company Vedior (headquartered in Amsterdam, the Netherlands) raised its stake in Joslin Rowe’s parent company, The Blomfield Group, from 18% to 70%. Joslin Rowe recruits for banking HR jobs across London, Edinburgh and Glasgow including long-term contracts, temporary and permanent roles.

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