When you’re searching for a new job in investment banking, working with a skilled recruiter can make all the difference. A recruiter can help open doors, provide feedback on your resume and deal sheet, and coach you on what works and doesn’t work during interviews for a specific client — all things that can be extremely valuable during your job search. Here are some of my top tips when working with an experienced recruiter.
Be Responsive
If a recruiter is trying to reach you to discuss an opportunity, they will (most likely) want to talk to you as soon as possible. If you are hard to reach or unresponsive, they will probably move on to another candidate. Speed is one of the most critical factors when working with a recruiting firm, especially contingency recruiters. Telling a recruiter that you will reach back out in a week or so conveys the message that you are “not that serious” about making a move. The hotter the market, the more responsive you need to be. Depending on the role, recruiters may only want to show in a couple of qualified candidates in hopes of a quick placement.
Be Respectful of the Recruiter’s Time
Recruiters are often working on several search assignments at the same time. Most recruiters get paid when they make a placement. Be mindful of the recruiter’s time when you make contact. Reaching out to talk about your long-term career progression is probably not a top priority for the recruiter. Recruiters are interested in filling their open roles. Be forthright. Recruiters would much rather know that you are not interested in a job via email versus hopping on the phone. A bait and switch is never a good thing. Luring a recruiter onto a call only to tell them that you are not interested is a waste of everyone’s time.
Fix Your LinkedIn Profile
Recruiters, sometimes called sourcers, know how to find qualified candidates, even the candidates who are working in jobs they love. However, you can make their jobs easier by publishing a robust LinkedIn profile, joining relevant industry or function-related groups, building a strong LinkedIn network, and ensuring your profile is set to public viewing. DO NOT PUT “Seeking New Opporunties” in your profile. It looks super weird and desperate.
Be Specific about Your Career Requirements
If you are looking for a position, be up front with the recruiter about the type of work, type of company, salary expectations, and so on that you need to have to explore opportunities further. The recruiter’s goal is to fill open positions. The more information you can provide about your non-negotiables and on what you are willing to compromise, the less likely you will be to frustrate a recruiter who has worked very hard on your behalf in positioning you to the wrong company.
Don’t Lie
I’ve said this before. Seriously, don’t lie. Let your recruiter know when you are working with another recruiter. If two contingency recruiters submit you as a candidate to the same firm, you may not be considered by the client company at all, even if you are a perfect match. Companies don’t want to mediate an argument between recruiters about who “owns” the candidate (and, consequently, who would receive the commission if the successful placement is made).
Understand How Recruiters Earn Their Fees
If you are working with a recruiter, don’t apply for the same positions you are being submitted to as a candidate. You may end up inadvertently disqualifying yourself because the employer does not want to risk having a recruiter claim a commission if you are hired directly. If you see a position advertised and are contacted by a recruiter for the same opportunity, you can decide whether you want to apply directly or be submitted as a candidate by the recruiter. Recruiters can often reach hiring managers directly.
How Can PRP Help?
We understand the financial recruiting landscape and have extensive experience working with hiring managers at Bulge bracket banks, Elite Boutiques and Private Equity firms. We can help you pinpoint what went wrong and help you course correct so that it doesn’t happen again.
PRP Services
- Clean-up, reformat and retarget your resume so that you can secure more interviews
- Linkedin profile analysis
- Sample mock interview questions
- Sample technical interview questions
- How to Break into Banking Networking Tips and Tricks
- Target Company recommendations
- Target Company Prep Exercises
- Mock-interviews
- Develop a customized networking strategy
- General guidance and support
We know the banks and know what they are looking for. With our guidance and support we will help you navigate this ultra-competitive job market and land your dream role.