Generally, summer is not the season during which individuals can expect to find a job in the financial services sector. This is the case for several reasons, including the fact that prospective recruiters-such as those working in the HR department-are typically on holiday during this time. For this reason, individuals hoping to find work at investment bank are likely to be disappointed.
In many cases, disappointed bankers make their hiring moves following lackluster bonuses between the months of January or March. In other cases, they are likely to make hiring decisions at the end of the year when they’re in search of new challenges prior to the start of a new year. However, research indicates that the aforementioned realities are not the end of the story with respect to the hiring tendencies of banking professionals. In fact, an analysis conducted by Randstad examined the time periods during which 15,000 financial services professionals sought out positions for almost 3,500 vacancies over a 12 month period. According to the study, the ratio of candidates to jobs was most favorable from the months of May to August. During this period, many people are making plans for summer vacations rather than concentrating on applying for a job. Thus while the number of jobs doesn’t decrease during this season, the number of applicants declines considerably.
In considering the aforementioned research, an important point becomes plain: the most effective way to catch and keep a recruiter’s attention is during a time when other people aren’t attempting to. This idea gains credence when you consider the research suggesting that Friday is the most favorable day to apply for a job since job-seekers tend not to apply on this day.