It has been almost a month since I have written my investment banking recruiting article, which was a deliberate hiatus on my part. First and foremost, I felt that more relevant information needed to hit your inboxes, Facebook pages, groups, and other social media outlets. Unlike many recruiters I did not put my head in the sand. Instead I proactively reached out to my candidates and clients to reassure them that firms are still hiring. There are still public finance jobs out there! It is critical to realize that the public finance industry is probably one of the safest industries for job retention. I have heard of few layoffs and furloughs; however, I have seen firms ask their professionals to take reduced compensation for a short period of time.
Good News: Placement Success Still Occurs For Public Finance Jobs
During the month of April, I was fortunate enough to move over 8 people in various positions and industries throughout the United States. To be more specific: 2 three person bond counsel teams, two public finance professionals and one institutional salesperson. Many of you that know me will understand I am the last person to share my individual accomplishments with the marketplace. It felt necessary, especially in this last month, that I show available public finance jobs and successful placements. Firms have learned how to negotiate post COVID-19 hiring’s, without personal visits. Video interviewing is taking the place of in-person meetings and company visits. Is this a trend that will continue? Only time will tell. For now, it is not inhibiting people from getting hired.
Interviewing Trends During COVID-19: Video Communication
Candidates are learning the ins and outs of video interviewing, which is a new skill for 2020 that we all need to be familiar with. Firms are learning how to conduct video interviews, conferencing with numerous individuals that are instrumental in the hiring process. The advantage to the video interviews is that calls can be scheduled easily. Since travel is no longer an issue, schedules can mesh much easier and decisions can be made by both candidates and firms quicker than ever before. A major advantage to the video interview is the immense cost savings. The traditional interview where you fly out a candidate, wine and dine them and spend an entire day with them, are no longer an option. I believe that video interviews will continue as they will screen out applicants that you do not need to spend a significant amount of capital on (both time and resources) in order to determine whether you want to hire them for the public finance jobs or not.
Working Remote With Public Finance Jobs
Another observation is that candidates as well as firms are now learning that remote situations can be exceptionally effective. One benefit I have witnessed is that firms are realizing that they do not need somebody in their geographical footprint when looking for their next hire. This was an unintended consequence for public finance jobs, but I believe a very good one. I have seen firms grow in their openness to conversing with strong candidates that may not end up working at the existing, physical office locations.
My Own New Hire
I am pleased and excited to share that I have hired Jennifer Crosset to assist me in the recruiting of public finance jobs and professionals, more specifically bond counsels. Jennifer and I worked together numerous years at previous firms. She is a consummate professional who is a student of public finance and understands our industry. Many of you have had the pleasure of working with Jennifer in the past, and I know you will enjoy her knowledge and experience as she joins the ranks of H. Friedman Search LLC. She can be reached at our main number of 760-477-1284 or e-mailed directly at [email protected].
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.