Vontropnats had an awesome post last week on the beginning of the recruitment season. The fact remains, however, that this could be one of the worst recruitment seasons ever. Layoffs are increasing and compensation is decreasing.
At the end of the day we can whine about the situation and circumstance of our job hunt all we want, but this just means that we need to have extra determination and effort to get our desired job. All the negatives mean one simple thing: The competition to get a job in banking and finance is tougher than ever. In addition to the extra work we may need to compromise on a few things:
Will this be another horrible recruiting season? What are you doing to set yourself apart from the masses? Will things get better after the election?
Pictured yourself in the big city? You may need to be more open to Houston, SF, Atlanta, Charlotte, Richmond, etc.
Wanted to work at a? You may need to be more open to Boutiques and MM firms.
Wanted a "Front Office" gig? You may have to settle for something "less prestigious."
Wanted to cruise through recruitment because you go to a fancy school?
You may need to do some extra preparation.
Wanted to transition into Finance with a limited finance/accounting/math/econ background? You may need to take a year or so and get yourself extra education.
Hopefully you will be saying this with job offer in hand at the end of the season. Good luck!