Who’s getting hired in 2024? This question makes it sound like a continuing theme as we wrap up the year. However, this is a question I am consistently getting asked. Is there going to be hiring in public finance next year? Are they going to add more positions or are we going to see fewer positions in the industry? These are all excellent questions, and the true answer is I just don’t know. As for who is going to get hired, I also do not know. So, why do I start with a title like this one? The answer is I do know the type of banker or bond counsel that is going to be in demand. That never changes nor will it change as long as there is infrastructure that is deteriorating or new projects to be built. Public finance is here to stay!
Two Evergreen Characteristics For Getting Hired In 2024
With that broad statement, let’s look at the characteristics that a banker or an attorney needs to display to continue to be in demand and get hired in 2024. It all comes down to two concepts, revenue production and expense protection. If you can put yourself into these categories, at least one–two almost assume you will be able to be treated like you found the golden ticket as Charlie did in the series of Willy Wonka and the Chocolate Factory. Let’s look at these two words in depth. What do revenue producing and expense protecting have in common? The answer is they both help the company you are working for a great deal, or they protect the company you are working for. Either way, both drop to the bottom line of any firm. In times of certainty, you will be in demand.
The words sound obvious. Revenue producing means you bring money into the firm. Now that you know the revenue-producing characteristic is in demand, how do you shape your executive summary to reflect this? Why do I mention an executive summary? For this very reason resumes and CV’s usually do not delve into this area with much detail. Sure, most people’s resumes will say that they were part of large projects, but that is not going to get you hired. It’s what you did for the big names that need to be detailed. Also, big names do not impress hiring managers as much as they used to. Because everyone is going after the “big dogs.” The scrappy banker who is not relying on the use of a name on his/her card, they are the banker and the counsel who is going to get hired in 2024 (as I have shared over the last couple of blogs). It’s the details that count. Details are the ones that need to be emphasized, which cannot be done effectively in a one or even two-page resume. As you prepare for next year, and you want to “kick the tires”, it’s a strong executive summary that will help you propel yourself forward.
Expense protection is also the same. However, in this case, you are looking at protecting the firm from a loss at the least, and at the greatest, you are showing the firm how to reduce expenses through actions that you have taken at other firms. Again, this needs to be shared in an executive summary rather than on just a resume to get hired in 2024. Expense protection is actually the harder of the two to demonstrate. Why? Because you have to actually show it was through your efforts that these expenses were reduced, or in the case of legal that you were able to keep the firm out of a pending litigation due to your compliance reviewed. Expense protection is just as important as revenue production if explained and demonstrated the right way.
A Word To The Juniors
If you are a junior person, try to start to focus on one of these two areas as you plan out your career trajectory. Take these two ideas thoroughly into your thought pattern as you prepare to see if you are the type of candidate that can and will be hired in 2024.
You don’t need a resume to chat with us! 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. Harlan publishes a blog every Thursday here. 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.