As we head into the final months of this year, I am repeatedly asked, “Can I still get a job for 2020 or should I wait for the new year to start my search in earnest? Are firms hiring in 2020 still?” The answer has to be determined by asking another question. Do you currently have a position? If you don’t, then the answer is yes! You should be looking for a job every day till the end of the year. But if you have a job, should you still be looking now with the hopes of starting this year? Or should you be putting your job search on hold until after the first of the year? That is the question we are going to discuss within this blog.
Unemployed & Looking
As I clearly stated above, if you do not have a position then your responsibility every day should be looking for a new firm or bank to join. Use your time wisely since there are still firms hiring in 2020. Anybody that is not spending a good portion of their day seeking new employment is only fooling themselves. It is unhealthy to think that the phone is going to ring one day – out of the blue – with a firm reaching out to you in hopes of hiring you. It is your responsibility to put yourself in front of as many firms as you can if you are in the unfortunate position of looking for a new job. On the other hand, if you are currently employed, time is clearly on your side.
Employed & Looking
Saying that, however, begs the question, “Is time really on your side?” If you remember at the beginning of this month, I addressed the endless cycle. The cycle happens when you’re ready to make a move, then you bring in a new deal and all of a sudden you delay the move. That is something that you must be very aware of. But let us address the question: are there still firms hiring in 2020 with a start date before 2021? The answer is still yes! Firms are looking at exchanging seats all the way through the end of the year. If you are fortunate enough not to have a garden leave, there is absolutely no reason why a firm cannot hire you prior to the new year. Typically speaking, it takes about 30 to 45 days from start to finish (from initial interview to start date). As we still have more than 45 days left in the year, it means you can start at a new firm in 2020. But the window is definitely closing, which means you want to take advantage of any interview situation that you can arrange.
What Your Garden Leave May Look Like With Firms Hiring In 2020
For those firms that are requiring the adherence to an existing garden leave, you want to be in a position that you are able to resign in 2020. With firms hiring in 2020, hopefully you can get as close as possible to finishing up your garden leave prior to the end of the year or just after the first. You will be in a position to start right after the first of the year or when your garden leave expires. Since we are getting to a time in the year where issuance is projected to slow down, many firms may choose not to enforce the full 90-day garden leave. Why? They may not want to pay for an employee for the month of November and December where there is not expected to be much business. If you are in a situation like that, you may want to try to negotiate with your existing firm for a shorter garden leave.
Firms To Consider For A Quick Hiring Process
If it is clearly your desire to negotiate a new position in 2020, you may want to focus on non-bulge bracket firms, smaller investment banking firms, financial advisory firms and/or boutique law firms to be able to get hired quicker (in addition to the above information). These firms tend to have less of a bureaucratic structure. With the advent of zoom interviews, time frames for being hired have been significantly reduced. You are now able to have numerous interviews on consecutive days. All without worrying about the logistics that went with traditional hiring practices. This is an advantage to both candidate and client to be able to expedite the hiring process by getting somebody on board in 2020. We have firms hiring in 2020, so reach out to us if this is a goal you would like to attain.
Conclusion
If you would like to discuss your options, please reach out to me for a confidential conversation at 760-477-1284 or email me at [email protected]. He can also be reached on LinkedIn.
About Harlan Friedman, JD & Founding Member, H. Friedman Search LLC. Harlan is a thirty-year veteran Public Finance Banker turned recruiter who specializes in the placement of all level Public Finance Bankers, Health Care Bankers, Municipal Financial Advisors, Compliance Officers, Issuers, and Bond Counsels.