UBS Wealth Management has put a freeze on hiring rookies for the remainder of 2008, as reported by Annie Gasparro in the Wall Street Letter on April 28, 2008.
Their intent appears to be to continue hiring experienced financial advisors from other firms in order to grow their sales force. Of course the cost saving of about $15 million in training expenses is significant, but are they being shortsighted?
Read more on UBS Freezes Hiring of Rookie Financial Advisors…
Want that opportunity at a major Wall Street firm?
Here’s what we know about landing that position in today’s job market within the financial services industry:
Our successful candidates contact us because they know WE know what the industry is looking for. We have a “specialist” orientation approach; all of our recruiters have been there.
We’ve found that college graduates seeking to enter the financial services industry tend to be woefully ignorant about entry level compensation and benefits packages offered by Wall Street firms.
There is a tendency among candidates to overestimate their own abilities and focus strictly on the size of the salary they are offered.
Here’s what we are seeing in the past two months:
Today’s highly competitive job market demands job seekers within the financial industry to be “on top of their game” in every aspect.
As Financial Services Recruiters, we have experienced and seen how the demographics of our country have forced a fundamental shift in diversity attitudes. But, do these changing attitudes reflect what is actually happening in the financial institutions with their hiring practices?
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