head hunter vs. direct application
Does anyone here have any experience applying through headhunters vs. directly or through connections? I will start applying for FT positions at the end of the summer. This is for quantitative roles (focus HF,PT). Have been contacted by some HHs recently. As far as I understand it, they get a commission as a certain percentage of starting salary - wondering if this discourages some firms from going through them. Any insight into what types of firms the good HHs usually represent would be appreciated.
Personally, I seeked the help of a headhunter. Having a headhunter will make your job search easier but the downside of this is that you have to pay them. http://www.headhunt.com.sg/about-us/
Headhunters in the US do not charge their candidates, they charge the hiring company. This is important to remember: the company is the client, not you.
On the other hand, it is 100% better to be brought in to a firm by a good headhunter than go in alone. A lot of companies treat direct inbound resumes as spam from marginal candidates desperate to leave their current jobs, and get so many they don't pay attention. A good headhunter will pitch you, get you noticed, and get you an interview. If a company has brought the headhunter into the hiring engagement, they will virtually never care about paying the contingency fee. What you don't want, however, is for a less reputable headhunter with weak client relationships to go blasting your resume all over Wall Street. This will not give you any benefit and will make it harder for a good headhunter to introduce you to those firms.
When you meet with a headhunter, remember that their #1 concern is that you are a relevant candidate who will show well with the client and will very likely accept an offer if one is given to you. Generally it's best to express an interest in one particular industry with any given headhunter (don't say hedge funds or private equity, for instance, pick one). Don't grumble about your current role, but do express a strong interest in exploring new opportunities. You can leverage a headhunter as an intermediary in negotiations, but remember that they represent the interests of the other side, so you have to know when to cut out the headhunter and manage the process.
Thanks guys. This is for campus hire out of grad school rather than experienced. Headhunters tend to be less common in that case, but not unheard of for quant positions. I've found it pretty difficult to get reliable/consistent information on which headhunters are reputable and which ones suck.
Couple of ways to try and vet a headhunter. If they have an exclusive on the engagement that's a good thing (but not critical). Also, ask them to tell you about the team you'll be working with. The good headhunters know the hiring manager personally, and can tell you about them. The lesser headhunters are only getting postings from HR, and have no real connection to be able to sell you to the actual decision-maker.
Headhunters -- are they worthwhile? (Originally Posted: 11/13/2010)
I made this thread: //www.wallstreetoasis.com/forums/finance-jobs-how-do-i-even-begin and received a lot of great input from you guys. I have learned that I have to wait until next July to begin applying to MBA programs (if that's what I want to do to try to go for an associates position afterwards) or I have to wait until next October for the Boston bilingual job fair (I am interested in a financial job in Tokyo).
About me: I ultimately desire to work in finance in Tokyo, Japan but I am willing to work somewhere else or do an MBA if it means it will help my career in the long run. I have no financial work experience.
I graduated in 2008 from a top 5 liberal arts school with a degree in Economics. These last two years, I started and managed several companies that specialized in website promotion but have decided to move on to pursue my dream of working in ibanking/finance (dream since high school).
Right now I am sitting at my home in Philadelphia with nothing to do and little knowledge about how to get started on my path towards ibanking/finance.
In the thread I mentioned above, a few different people said that I should hunt down companies and cold call asking about internships or I should contact a headhunter like Robert Walters or Robert Half.
I checked out the websites of these headhunting companies and I noticed that they have sections for Japanese financial jobs as well as financial jobs in the US (and worldwide of course). At this point, I do not care where I work as long as I can get my foot in the door with ibanking/finance. I know that after I gain some experience or get an MBA, I will have a better chance of landing my dream job in Tokyo. However, maybe these headhunting companies can get me an entry level job in Tokyo to begin with... I do not know.
Does anyone have any experience with headhunters or have any advice for me on what I should do? Should I try contacting these headhunters or is it a waste of time?
Like I said before, at the moment I am sitting at my home in Philadelphia with nothing so I am willing to do whatever it takes to get out of this rut I am in. I am also open to working at places away from Philadelphia if it means I can get my foot in the door.
Any advice would be greatly appreciated. You guys gave a ton of good advice before so thank you so far.
it would be extremely rare for a headhunter to work with a fresh college grad (they rarely work with fresh MBA grads, especially for finance positions in this market). start/continue networking, get an internship with a smaller shop
Thanks for your reply. Okay, I will scratch the headhunters off my list.
It seems the advice I keep hearing consistently here is: - network - get an internship at a smaller firm or some other job to get your foot in the door and work your way up
So, I will look more into these routes. Thanks again for the help.
Networking internally w/ alumni VS Head Hunter (Originally Posted: 08/20/2012)
I'm currently networking with alumni and actively looking for FO roles on the buy-side. I've done a lot of networking over the past year (I've read the WSO networking guide as well as the behavioral interview) connecting with a a number of receptive alumni who have been helpful. I recently utilized a few head hunters in the process.
Recently, a head hunter contacted me about an ideal position at a target firm and am currently in the early stages of setting up a phone interview. I have networked with a couple of alumni at the same firm who are higher up (PM's, traders) and have been pretty good with providing advice and connecting me with people at other firms who might be hiring.
What is the best way to get the interview (and get through HR) and increase my odds of getting the position? Do I proceed with the head hunter or go through the alumni contact? It's a larger firm so I'm not sure if the position is in the PM's direct group or, rather, if the PM has any major pull at this level of hiring?
Any feedback would be helpful. I haven't really come across this situation in my "networking education".
Alumni, fuck head hunters, they are not to be trusted.
What Oreo said... Also, it's cheaper for the company if they don't have to pay the head hunter fee. Also the alumni can talk to HR and definitely get you an interview if he's senior up. Head hunters don't have nearly the same pull at a shop. If the head hunter has been getting you interviews though and already introduced you to the opportunity I might not burn that bridge. maybe you're the one person for whom head hunters work really well and if you are then you want to keep them happy.
Networking vs Headhunters? (Originally Posted: 03/12/2013)
Unlike banking recruiting, PE funds have headhunters that choose candidates to put on the interview list. That said, how effective are the networking strategies that one might use to break into banking (emailing alumni at PE funds, meeting up for coffee, etc) in a PE recruiting context? Does networking have as much weight or do they just fill interview slots with headhunter recommendations?
Also, if networking still is useful for making the jump, when is the best time to start talking to alumni?
Networking is always going to be important, its relevance to your career trajectory will never fade away. It's never to early to start.
Speaking from personal experience, networking is a huge part of the recruiting process (A cold email got me the intro to the job I'm in today). There were at least five different instances where a networking call/email got me on the interview list for a fund. The people I connected with either didn't use a recruiter or they instructed the recruiter to put me on the list. On a funny side note, a certain "prestige whore" recruiting firm once emailed me back saying that they mainly worked with BB firms and wouldn't have time to speak with me/show me any opportunities. Three months later, they called and emailed me several times to schedule a first round interview with one of their clients. I had a rather fun time calling the recruiting firm out about that one!
Networking is always important, dude. HR will always prefer to find an amazing candidate in their lap rather than pay a small fortune to a HH. That said, some firms deal exclusively with the standard analyst cattle drive. But really, why subject yourself to another level of screening if you don't have to?
networking is a must if you're not at a top group. If you are...then you'll get the interviews through headhunters
Is networking through LinkedIn the usual method, cold-calling, etc.? What has worked for you guys in the past?
Highest response rate is if you know someone in common, and ask if when you contact your target you can mention their name or ask them to introduce you directly (depending how close you are). Email then follow up with a call. Then come alumni databases/linkedin and use an email to contact them. That InMail shit is spotty. Personally, I found that by sending an email first you "warm" the call a bit. I know I would kind of be pissed off if someone just called me at the office, out of the blue, with an elevator pitch. Especially if it's a bad moment.
Thanks.
If recruiting is done through headhunters, does networking still help? (Originally Posted: 10/19/2011)
I go to a school with alumni at almost every major PE firm.
Going to be joining a BB after graduation as a first year banking analyst. Interested in PE after banking. Does it make sense to network with alumni the same way I did for banking positions or does it not matter because the headhunters are now the gatekeepers?
There are alumni at the big search firms too. Should I network with them?
Thanks for your help!
bump
any info on the importance of networking for pe recruiting would be greatly appreciated.
Yes, you definitely should. The headhunters are just one way to get in the door. Alums at different funds may be part of the recruiting process (so you can circumvent an HH directly). At the end of the day, it's the fund that's making the decision whether to hire you or not. The more people you can get to vouch for you, the better.
Definitely a good idea to go the networking route. I'm at the end of a process right now that started with me reaching out to network about 7 months ago. My contact told me then that they'll be raising a fund soon, and will be looking to bring in an Analyst once they hit a certain hurdle in the raise.
At this point, they're talking to my references, and haven't even advertised the position (hopefully they never have to)!
Absolutely. More than half of my firm's hires are through referrals, not through headhunters.
As usual, HerSerendipity speaks the truth! I'll go so far to say that we prefer referrals over headhunters.
The more people in your corner the better. At some point, many of the candidates look the same, especially at the junior level. Sometimes the difference is just someone saying "that dude seems pretty cool".
I know cold e-mailing/LinkedIn alumni was a mediocre strategy for getting IB internships/jobs but how effective is this for PE?
I would say that what you know is wrong. Networking is not a mediocre strategy to get into IB. When I was involved in the recruiting process, the first resumes I pulled were those applicants who had reached out and had strong credentials. If you weren't quite as strong but had made a good impression and demonstrated interest in my firm, I'd often make case for you over some other applicant who might be objectively stronger but had not reached out.
As for PE recruiting, I would say that it's a lot more variable. With some firms, it doesn't matter how much you've networked - you HAVE to go through the headhunters. On the other hand, many other PE firms recruit 100% through referrals (don't have to pay the headhunters), so you can get in through networking or sometimes through a senior banker pulling for you.
So in short, yes networking helps, but maybe more so at some firms over others. At the very least, it can't hurt, so go for it!
It really depends. Networking helps if you're not in a group that historically gets a lot of PE interviews, or if there is a particular PE firm you're really interested in.
If you're in a really crappy group, you'll need to network not only with PE firms but headhunters as well.
If you're at a BX/GS TMT/MS M&A type group, you'll get most of the interviews anyways, so networking becomes less useful. If there's a particular firm that's your absolute top choice you just have to let the right headhunter know.
I have met with all of the main HHs, is that what you mean by networking with the HHs? I have not been asking for specific firms from the HHs though is that too aggressive? Also, is it worth it to cold e-mail or LinkedIn alumni at the PE shops I'm interested in?
Also curious. Is it helpful to email alums in PE shops I'm intersted in, or is this not generally done?
Apply directly or work with a recruiter? (Originally Posted: 02/03/2018)
Hi to all!
I have 3+ years of experience working for a quant hedge fund as a researcher. For personal reasons I want to move to a different location (country) and I've started wondering whether it's better to use the services of recruiters or apply via funds' websites. Wouldn't the latter make me look desperate ?
Also, there are few companies I am interested in that don't seem to be on the radar of the few recruiters that I know. What's your advice? Apply directly or look for recruiters with mandates from said companies?
Thanks in advance!
Im just a college senior but heres my opinion: Don't use a recruiter or the online applications. Emailing/calling for unadvertised or advertised positions seems to be the best avenue for getting job offers.
Although I've never used a recruiter I have heard mostly negative feedback about how they are just useless, waste of money, and don't live up to their promises. Website applications are a black hole and who knows if your resume will ever see the light of day.
Could anyone from the industry put in his/her two cents?
Cold-calling / recruiter / applying via websites?
I do know someone whom I worked with before and who's now working for one of my target companies. Pursuing this path, but then again there's plenty of other companies I'm interested in as well.
These options are not mutually exclusive. You can connect with recruiters, apply directly, and, GASP, even cold email. All simultaneously.
Headhunter vs direct application for FT? (Originally Posted: 05/23/2016)
Hi everyone,
I am a 22 year old Masters student at a target uni in the UK. I've done an internship at a solid BB before, and will be interning at a tech firm this summer (business role). I interviewed with various MBB's for an internship, but didn't land anything. I'm looking to apply for FT again next year. I attended various events, and am on good terms with various consultants and recruiters at each of the MBB.
I have also been contacted by a recruiter. When I apply for FT, would I benefit from going through a recruiter? I am not worried about getting interviews, due to my connections at each of the firms. Rather wondering if I will get a special edge by going through a recruiter.
No special edge. In fact, I don't even think MBB's accept recruiter submissions when they are doing university hiring.
How about in terms of exit opps post-consulting? Is there any advantage to using a headhunter/recruiting firm? If so, what are some of the better firms you've heard of and their advantages?
I personally did not use recruiting firms, though I have heard good things about Egon, Heidrick, etc. My reason was that I had a strong enough network from McK in the places I wanted to focus that I didn't feel the need to go that direction.
There will be headhunters that have your interests in mind and there are some that will call everyone in the world because they are just trying to fill a spot. Discerning the difference can be difficult.
Iusto doloribus corporis id numquam possimus hic maiores. Illo quia modi ipsam et tempore saepe vel aut. Quos facilis et cupiditate laborum dolorum.
Assumenda qui fugiat eum consequuntur dolores fuga. Qui quia et sunt rem unde et rerum. Repellat incidunt exercitationem qui repudiandae quis aut facilis blanditiis. Ea labore sint sequi nostrum sed.
Officia deserunt sed aliquid ullam. Cupiditate vel esse similique aliquam beatae corrupti. Accusamus incidunt suscipit asperiores harum dolorum eius.
Omnis voluptatem expedita cumque ea. Aperiam iure tenetur est dicta quibusdam est reiciendis. Neque quia nulla illo.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...
Beatae perferendis harum autem qui officia vel ab. Distinctio saepe architecto non magni aut inventore. Dolorum quod enim eligendi eos ad dicta consequatur. Explicabo atque consequuntur maxime odit commodi et.
Rerum reprehenderit consequatur iure dolores laboriosam eveniet et. Quas velit est unde nobis et voluptates. Eius omnis culpa provident ducimus.
Fugit sunt rerum sed vero placeat. Sunt voluptas sapiente architecto dolor nesciunt sit suscipit. Labore labore laborum aut qui dignissimos. Ut qui modi beatae non.
Vero non occaecati quia sunt. Et in ipsam distinctio quis. Excepturi illum magnam ea ratione.