Fifty-two blogs are done, which means that the year is now concluding. This year has certainly been one for the books. I am not necessarily referring to only our industry but more so to the entire hiring community throughout the United States. As we headed into the last six months of the year, a term that I had never heard before rearing its ugly head: the great resignation has begun. What a sad state of our economy. When people have opted to not fully engage with their career but sit home and collect subsidies. This is not meant to be a political blog by any stretch of the imagination, but as a recruiter summing up this year, I would be remiss if I did not even raise this issue. But how does it look for our cottage-like industry? Have we lost the candidate’s market that we once had?
Our Industry Status: Did We Remain A Candidate’s Market?
Here is the good news: this is not occurring in our industry. The people that have moved this year, whether through me, through other recruiters, or on their own, have all moved in their mind to better themselves. This year has turned out to be more of a candidate’s market rather than an employer’s market. This means that there are more positions available than candidates can fill, which gives the candidate the upper arm in the process. At the junior level in both bond counsel and public finance banking, we have seen a drastic need to fill this void and will be continuing into 2022.
Our End-Of-The-Year Survey: What Is The Future Of A Candidate’s Market For 2022?
The end-of-the-year survey is something I look forward to, especially in the month of December. Today in a candidate’s market, it is intriguing to see the numbers of how people answer any polls regarding our industry. As many of you have noticed, within the last week or so I have provided surveys to get a much better understanding of where you (the candidate) and the employer think 2022 will come out. I am pleased to be able to offer you the results of this survey. The only proviso is that the number of responses was a minimal amount; therefore, I can only guesstimate what a larger pool of responses would have yielded. For those of you who have not read the survey, I am going to provide below the seven questions that have been answered. In addition, I will provide the percentage of yes’ and no’s for each question, and you (my reader) can draw your own conclusions on the future and the state of our candidate’s market. However, before I present the questions and answers I would like to take this opportunity to thank you my loyal reader once again for your continued dedication to this blog. It has now become a true labor of love as I share with you my thoughts over each week from conversations that I have had with many of you.
Now for the results of the survey & our thoughts on a candidate’s market:
1. Do you think issuance will be greater, lesser, or the same as 2021 in 2022?
- Greater – 31.58%
- Lesser – 21.05%
- Same – 43.75%
2. Do you see more or less taxable transactions then in 2021?
- Greater – 30.43%
- Lesser – 69.47%
3. Do you see more or less firms in the industry as of the end of 2021, including public finance firms and bond counsel firms?
- More – 26.09%
- Less – 73.91 %
4. Do you see a greater or lesser need for Public Finance Bankers?
- Greater Need – 60.87%
- Lesser Need – 39.13%
5. Do you see a greater or lesser need for Bond Counsel?
- Greater Need – 59.09%
- Lesser Need – 40.91%
6. Do you see a greater or lesser need for Institutional Sales People?
- Greater Need – 56.52%
- Lesser Need – 43.48%
7. Do you feel that you personally will have a better year in 2022 than in 2021?
- Yes! – 59.09%
- No, but hoping I will be wrong! – 40.91%
In conclusion, we are optimistic about the future of our professions and a candidate’s market! I wish each and every one of you a happy, healthy and prosperous new year. I look forward to collaborating with you all again very closely in 2022.
If you would like to discuss your options, please reach out for a confidential conversation at 760-477-1284 or email at [email protected]. He can also be reached on LinkedIn. Subscribe to our monthly newsletter here, which is a compilation of our weekly blogs, so you never miss one. You can find our listing in the “supplier and services” section of the Red Book under the title of “executive recruiting”.
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 levels Public Finance Bankers, Healthcare Bankers, Municipal Advisors, Compliance Officers, Issuers, and Bond Counsels.